Pengaruh Nilai Penerbitan Obligasi Syariah (Sukuk), dan Rating Obligasi Syariah (Sukuk) terhadap Reaksi Pasar Modal

Abstract

The current sukuk or syariah bonds become one of the investment instruments that become the consideration of the investors. Unlike conventional bonds, sukuk implements sharia principles in their implementation. Investors base their decision on investing in signals given by the company. In this case, the value of issuance of syariah bonds and the rating of Islamic bonds can be important information for investors in making investment decisions. This study aims to determine the effect of issuance of syariah bonds against cummulative abnormal return, rating of syariah bonds against cummulative abnormal return. This research used descriptive method with survey technique with secondary data analysis using quantitative method. The analytical tool used is multiple linear regression with the help of SPSS program (statisticals product and service solution). The results of the research show that the issuer of Islamic bonds has an effect on cummulative abnormal return, and the rating of Islamic obliquity influences the cummulative abnormal return, and simultaneously the issuance of Sharia bonds and Sharia bond rating have an effect on the cummulative abnormal return