Pengaruh Leverage Operasi, Leverage Keuangan, dan Karakteristik Perusahaan terhadap Risiko Sistematik Saham: Studi Empirik pada Emiten Sektor Pertambangan di Bursa Efek Indonesia
Abstract: Systematic risk or
beta is a risk that considered by investor as relevant risk in investing stock.
Therefore, factors that influence beta remark important. The aim of this
research is to know the impact of operating leverage, financial leverage, and
firm’s characteristic on the systematic risk of mining sector stocks. Firm
characteristic is proxied by qualitative dummy variable with two categories.
First category consists of LQ45 index constituent mining companies and the
second is excluding group of LQ45 index constituent mining companies. This
research employs ANCOVA model with pooled data. The result states that
operating leverage and the financial leverage have no impact on systematic
risk. Firm characteristic is positively impact on systematic risk. In other
words, the systematic risk of LQ45 index constituent mining companies group is
higher than the excluding group of LQ45 index constituent mining companies.
Keywords: Systematic risk,
Firm characteristic
Penulis: Bram Hadianto, Lauw
Tjun Tjun
Kode Jurnal: jpakuntansidd090053
