文章基本信息

标题：ANALISIS PERILAKU INDIKATOR DEBT MARKET
本地全文：下载
作者：Peter Jacobs ; Arlyana Abubakar ; Tora Erita Siallagan 等
期刊名称：Bulletin Ekonomi Moneter dan Perbankan
印刷版ISSN：1410-8046
电子版ISSN：2460-9196
出版年度：2011
卷号：13
期号：3
页码：339-366
DOI：10.21098/bemp.v13i3.265
出版社：Bank Indonesia
摘要：This paper analyze the debt market, focusing on the behavior of soverign yield and Credit Default Swap (CDS). We build several empirical models to test the factors determine these two indicators and apply them using the Indonesian and peers data. The result confirm the significance impact of foreign reserves and VIX index on the bond yield in Indonesia and its peers country. On the composite sovereign bond, the result shows that the real effective exchange rate (REER) and the debt service ratio (DSR) significantly affect the yield, while on the corporate bond yield, the significant explanatory variables are return on equity (ROE), inflation, the current ratio (CR) and net profit margin (NPM). However, there is an anomaly where the impact of the last two variables (CR and NPM) are contrary to the theory.