| Popis: |
The purpose of this research is to examine the effect of characteristics of bonds on the bond characteristics on the return of bonds in the sector of property, real estate, and building construction in 2013-2016. This research also aims to find out the relationship of macroeconomic factors to bond return in the sector of property, real estate, and building construction in 2013-2016. Data processing and analysis in this research use the panel data regression techniques. The data used are secondary data selected using purposive sampling with the bonds criteria issued by companies from the property, real estate and building construction sectors which are actively registered during the 2013-2016 period and not yet due, and the bonds ratings are listed in the Pefindo. The research results stated that duration has a positive effect on returns in the property, real estate, and building construction sector. Macroeconomics variable is: inflation and interest rate have a negative effect on bond return in property, real estate, and building construction sector. Other macroeconomic variables are: the exchange rate and IHSG have no effect on bond return. The price of gold as a substitution investment of bonds has a positive effect on bond return in property, real estate, and building construction sector. However, the world’s oil prices have no effect on returns. |
