Citation:

Rama Juni Tambunan, Hakiman. "Determination of Bond Yield to Maturity, Inflation as a Moderator" International Research Journal of Economics and Management Studies, Vol. 4, No. 3, pp. 198-201, 2025.

Abstract:

This study analyzes the factors influencing the Yield to Maturity (YTM) of bonds in the financial sector listed on the Indonesia Stock Exchange (IDX), with inflation as a moderating variable. The examined factors include bond maturity, bond ratings, the Bank Indonesia benchmark interest rate (BI Rate), and firm size. Data is sourced from financial reports and official publications by the Financial Services Authority (OJK) and IDX. Using multiple linear regression analysis with a moderation approach, the findings reveal that only bond ratings significantly affect YTM. Furthermore, inflation strengthens the influence of bond ratings on YTM. These results highlight the importance of considering bond ratings and inflation conditions in bond investment decision-making.

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Keywords:

BI Rate, Bond Ratings, Firm Size, Inflation, Yield to Maturity.