Main Article Content

Farah Margaretha
Hartanti Hartanti


Through invesment emiten and investor will get risk which cannot predicted. Where from the risk, there are risk able to lessen by diversified (unsystematic risk) and there also risk which cannot lessen (systematic risk). This research is doing to know how R&D invesment affect to systematic risk along with its component, there are business risk, DOL. DFL, and operating risk at manufacturing listed companies in Jakarta Stock Exchange during the six period of time (1999-2004). Hypothesis testing is used in this research. Independent variable which used in this research is R&D invesment, while dependent variables are systematic risk, business risk, DOL, DFL, and operating risk. This research is using analyse multivariat and regression and also data analysis SPSS data 11.5 program. The result of this research shows that R&D invesment have significant affect to systematic risk and its component, there are business risk, DOL, and operating risk. Manajerial implication in this research is destined to emiten, in expection of investing its capital is more paying attention to systematic risk, DOL, business risk, and operating risk to be obtained.



Download data is not yet available.

Plum Analytics

Article Details



Bodie, Zvi; Alex Kane; Alan J. Marcus. (2005). Investment, Sixth Edition. USA : McGraw Hill Companies.

Brigham, Eugene F. and Phillip R. Daves(2004). Intermediate Financial Manage

ment, Edisi Kedelapan. South Western : Thomson Corporation.

Brigham, Eugene F. and Michael C. Ehrhardt. (2005). Financial Management; Teori And Practice, Tenth Edition. Orlando : Harcourt Inc.

Chung, Kee H. and Charlie Charoenwong. (1991). Investment Option, Assets In

Place, and The Risk of Stocks, Financial Manage»ient, 20: 21-33.

Deng, Z., B. Lev and F. Narin, 1999. Science and Technology as Predictors of Stock Performance, Financial Analyst Journal 55, 20-32.

Gitman, Laurence J. (2006). Principal of Managerial Finance, Eleventh Edition. USA : Pearson Education.

Ho, Yew K.; Zhenyu Xu; Chee M. Yap. (2004). R&D Investment and Systematic Risk, Accounting and Finance, 44: 393-418.

Jones, Charles Parker. (2002). Ivestment Analysis and Management, Ninth Edi-tion. USA : John Wiley and Sons Inc.

JSX Monthly Statistic (1999-2004). Financial Data and Ratio, Jakarta : Bursa Efek Jakarta.

Reily, Frank K. and Keith C. Brown. (2003). Contemporary Financial Management, Ninth Edition. USA : South-Western

Ross, Stephen A; Randolph, Westerfield W.; Bredford, Jordan. (2003). Fundamen-tals of Corporate Finance, Sixth Edition. USA : McGraw-Hill Companies.

Sharpe, William F.; Gordon J. Alexander; Jefferey U. Bailey. (1999). Investment, Sixth Edition. New Jersey : Prentice Hall Inc.

Titman, Sheridan and Roberto Wessels. (1988). The Determinant of Capital Struc-ture Choice, The Journal of Finance, Vol. XLIII, No. 1.

Usman, Muhammad. (2001). Pengaruh Cyclicality, Operating Leverage, Financial Leverage, dan Asset Size Terhadap Resiko Bisnis. Ekoma Vol.1 No.1 .

Van Horne, James C. (2002). Financial Investment and Policy, Twelveth Edition. New Jersey : Prentice Hall.

Van Horne, James C. and John M. Marchwizc. (2002). Fundamental of Financial Management, Ninth Edition. New Jersey : Prentice Hall Inc.

Wilson, Clive and Bruce Keers. (2003). Financial Manage»tent Principles and Apilications, Forth Edition. Australia : Prentice Hall Inc.