Pengaruh Leverage, Liquidity, Profitability, Growth Ratio terhadap Peringkat Obligasi dengan Manajemen Laba sebagai Variabel Moderasi pada Perusahaan Manufaktur yang Terdaftar di BEI Tahun 2019–2023

Abstract

The purpose of this study is to analyze the moderating influence of earnings management leverage, liquidity, profitability, and growth ratioon the bond ratings listed on the IDX in 2019-2023.

The population of this study is all manufacturing companies listed on the IDX that publish bonds, publish complete annual financial reports and ranked by PEFINDO and that publish bonds have not matured in 2019-2023, totaling 165 companies. The sampling technique used purposive sampling, so that the sample used was 14 companies for 5 years in 2019 - 2023. The analysis method used in this study is panel data regression analysis with the help of Eviews 10 software.

The results of the study showed that leverage and growth ratio effect the bond ratings of manufacturing companies listed on the IDX, liquidity and profitability does not effect the bond ratings of manufacturing companies listed on the IDX, earnings management only moderates the effect leverage on the bond ratings of manufacturing companies listed on the IDX, while the effect liquidity, profitability and growth ratio on bond ratings is not moderated by earnings management in manufacturing companies listed on the IDX.