THE DETERMINANT FACTORS OF EARNINGS QUALITY AND ECONOMIC CONSEQUENCES
DOI:
https://doi.org/10.24034/j25485024.y2012.v16.i1.150Keywords:
Kualitas earning, faktor bawaan, risiko perusahaan, risiko industri, varians residual sekuritasAbstract
Penelitian ini bertujuan untuk mendiskusikan faktor-faktor penentu kualitas laba dan konsekuensi ekonomi di pasar modal Indonesia. Faktor-faktor tersebut adalah bawaan, kinerja, risiko perusahaan, dan risiko industri. Kualitas earning diukur menggunakan atribut kualitas akrual, persistensi, prediktabilitas, kelancaran, dan kualitas earning faktorial, sedangkan konsekuensi ekonomi diukur menggunakan varians residual sekuritas. Penelitian ini menggunakan data sekunder berupa laporan keuangan perusahaan mulai tahun 2005 hingga 2010. Penelitian menggunakan tiga langkah pengujian, yaitu (1) pengujian atribut kualitas earning yang berbeda satu sama lain, (2) menganalisis faktor-faktor penentu kualitas earning dan (3) menguji pengaruh kualitas earning di pasar saham dalam konteks hubungan antara informasi asimetris dan kualitas earning. Hasil pengujian pertama menunjukkan bahwa semua dari empat atribut kualitas earning berbeda satu sama lain. Analisis faktor-faktor penentu menunjukkan bahwa variabel leverage memiliki hubungan yang signifikan dengan lima atribut kualitas earning, daripada penjualan dan ukuran perusahaan yang menunjukkan hubungan signifikan dengan empat atribut kualitas informasi earning. Variabel lain seperti siklus operasi, kinerja, dan klasifikasi industri menghasilkan dua atribut kualitas earning. Pengujian konsekuensi ekonomi menghasilkan tiga atribut kualitas laba yang memiliki hubungan signifikan dengan varians residual sekuritas yaitu atribut kualitas akrual, kelancaran, dan kualitas laba faktorial.
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