摘要：This research has two objectives. The first objective is to analyze the impact of seven fundamental factors (Dividend Payout, asset growth, leverage, liquidity, asset size, earnings variability, accounting beta) to the bussiness risk. Bussiness risk are measured by using Single Index Model (Beta) and four lag and four lead Fowler and Rorke Method (Corrected Beta). The sample was taken by using purposive sampling method. the taken sample consist of 37 companies. The research period devide in two sub period : before crisis Period (1992 up to 1996) and after crisis period (1997 up to 2001). The research result show that from the seven factors assumed to influence on beta, there are four factors which partially show positive influence in before crisis period : Dividend Payout, liquidity, asset size, earnings variability, and there are six factors : Dividend Payout, asset growth, leverage, liquidity, asset size, accounting beta in after crisis period. The other result show that from seven factors assumed to influence on the corrected beta, there are five factors which partially show positive influence in before crisis period : Dividend Payout, asset growth, liquidity, asset size, earnings variability on before crisis period, and Five factors too: Dividend Payout, leverage, liquidity, asset size, accounting beta in after crisis period. The result on the Chow test indicated that the effect of fundamental factor on bussiness risk are significantly different between before crisis period and after crisis period.
其他摘要：This research has two objectives. The first objective is to analyze the impact of seven fundamental factors (Dividend Payout, asset growth, leverage, liquidity, asset size, earnings variability, accounting beta) to the bussiness risk. Bussiness risk are measured by using Single Index Model (Beta) and four lag and four lead Fowler and Rorke Method (Corrected Beta). The sample was taken by using purposive sampling method. the taken sample consist of 37 companies. The research period devide in two sub period : before crisis Period (1992 up to 1996) and after crisis period (1997 up to 2001). The research result show that from the seven factors assumed to influence on beta, there are four factors which partially show positive influence in before crisis period : Dividend Payout, liquidity, asset size, earnings variability, and there are six factors : Dividend Payout, asset growth, leverage, liquidity, asset size, accounting beta in after crisis period. The other result show that from seven factors assumed to influence on the corrected beta, there are five factors which partially show positive influence in before crisis period : Dividend Payout, asset growth, liquidity, asset size, earnings variability on before crisis period, and Five factors too: Dividend Payout, leverage, liquidity, asset size, accounting beta in after crisis period. The result on the Chow test indicated that the effect of fundamental factor on bussiness risk are significantly different between before crisis period and after crisis period. Keywords : Dividend Payout, Asset Growth, Leverage, Liquidity, Single Index Model
关键词：Dividend Payout;Asset Growth;Leverage;Liquidity;Single Index Model.
其他关键词：Dividend Payout; Asset Growth; Leverage; Liquidity; Single Index Model; faculty economic unissula; universitas islam sultan agung; unissula
