PENGARUH OPASITAS LABA, ASIMETRI INFORMASI, DAN KEINFORMATIFAN LABA TERHADAP BIAYA EKUITAS DI PERUSAHAAN MANUFAKTUR

Jurnal Akuntansi Trisakti Pub Date : 2019-08-16 DOI:10.25105/JAT.V6I1.4918

M. Malau, Etty Murwaningsari, Sekar Mayangsari, Titik Aryati

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引用次数: 4

Abstract

This study aims to examine and analyze whether earnings opacity, information asymmetry, earnings informativeness have effect to the cost of equity. The method used in this study is panel regression analysis. The sample used in the study was 900 observations consisting of 500 observations in Indonesia and 400 observations in the Philippines using data from manufacturing companies for the period 2013-2017. Cost of equity is measured by a three-factor model. Earnings aggressiveness, loss avoidance, and income smoothing as a proxy for earnings opacity. Information asymmetry is measured by the bid-ask spread. Earnings informativeness are measured by discretionary accruals. The result shows that earnings opacity has a significant positive effect on the cost of equity. Information asymmetry has a significant positive effect on the cost of equity. Earnings informativeness have a significant negative effect on cost of equity.

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利润不透明度、信息不对称和利润报偿对制造业的公平成本的影响

本研究旨在检验和分析盈余不透明、资讯不对称、盈余资讯性是否对权益成本有影响。本研究采用的方法是面板回归分析。研究中使用的样本是900个观测值，其中包括印度尼西亚的500个观测值和菲律宾的400个观测值，使用了2013-2017年期间制造公司的数据。权益成本由三因素模型来衡量。盈余侵略性，避免损失和收入平滑作为盈余不透明的代理。信息不对称通过买卖价差来衡量。盈余信息是由可自由支配的应计项目衡量的。结果表明，盈余不透明度对权益成本有显著的正向影响。信息不对称对股权成本有显著的正向影响。盈余信息性对权益成本有显著的负向影响。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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Jurnal Akuntansi Trisakti

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