Bond Rating and Bond Price in Indonesia Stock Exchange

摘要

Research on bonds is still limited compared to research on stocks in Indonesia. Bonds can be one type of asset that is quite interesting, because the bond is able to provide fixed income for investors who do not like the risk and can be used as an alternative investment in addition to stocks. This study aims to determine the difference between the price of bonds with high ratings and bonds with low ratings on the Indonesia Stock Exchange. Testing research hypothesis used independent t test independent sample, with tools SPSS application version 13.0. The results showed that there was a significant difference between the price of bonds with high rank (AAA) and the price of low-rated bonds (BBB). The average price of high-rated bonds (AAA) is higher than low-priced bond prices (BBB). The results of this study can provide empirical evidence of bond rating factors that affect bond prices, and for investors interested in investing in bonds, this study is expected to provide even input guidance to invest in bond instruments so as to choose an appropriate bond and provide benefits the maximum.