PENGARUH INFORMATION RISK TERHADAP COST OF CAPITALBADAN USAHA NON-KEUANGAN YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2012-2014
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Keywords:
Accrual Quality, Cost of Equity, Cost of Debt
Abstract
Abstract- The purpose of this research was to know the influence of information risk (accrual quality, beta, leverage, size, growth, ROA, interest coverage, and NIBE) as an independent variable to cost of debt and cost of equity as a dependent variable to company listed in Bursa Efek Indonesia period 2012-2014. There were total 249 observations in this research that consist of 83 companies, which were listed in Bursa Efek Indonesia period 2012-2014. The result of this research showed that accrual quality and leverage had a positive influence towards cost of equity, beta and size were negative towards cost of equity, while growth was not significant towards cost of equity. More results showed that accrual quality and size were positive towards cost of debt, while interest coverage and NIBE were negative; leverage and ROA were not affected by cost of debt of a company.
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Yusintha, P., Suryandari, E,2010, Analisis Faktor-Faktor Yang Mempengaruhi Struktur Modal,Jurnal Akuntansi dan Investasi, Vol.11 No.2, pp 179-188
Francis, J., LaFond, R., Olsson, P. dan Schipper, K, 2005, The market pricing of accruals quality, Journal of Accounting and Economics, Vol. 39 No. 2, pp. 295-327.
Ghozali, I., 2009, Aplikasi Analisis Multivariate Dengan Program SPSS, 4th Edition, Universitas Diponegoro
Gitman, L.j., 2006, Principles of Managerial Finance,4th Edition, Addison Wesley, Pearson Education Inc.
Gray, P., Koh, P.S. and Tong, Y.H, 2009, Accruals quality, information risk and cost of capital: evidence from Australia, Journal of Business Finance & Accounting, Vol. 36 Nos 1‐2, pp. 51-72.
Gujarati dan Porter, 2012, Dasar_Dasar Ekonometrika, 2nd Edition. Jakarta : Salemba Empat.8
Hadianto, Bram dan M. Sienly Veronica Wijaya,2008, Pengaruh struktur aktiva, ukuran, likuiditas, dan profitabilitas terhadap struktur modal Emiten Sektor Ritel di Bursa Efek Indonesia: Sebuah pengujian Hipotesis
Pecking Order, Jurnal Ilmiah Akuntansi, Vol.7 No.1
Halim, C.,2017, Pengaruh Karakteristik Perusahaan Terhadap Biaya Utang Badan Usaha Yang Terdaftar Di Bursa Efek Indonesia 2011-2015, Skripsi, Universitas Surabaya
Hanniarsa, P. A., 2013, Pengaruh Nilai Pasar Ekuitas dan Risiko Sistematis Terhadap Cost of Equity Capital, Disertasi, Universitas Negri Padang
Haruman, T., 2008, Pengaruh Struktur Kepemilikan terhadap Keputusan Keuangan dan Nilai Perusahaan, Simponium Nasional Akunransi XI, Pontianak.
Hasibuan, M.S.P, 2004, Dasar-Dasar Perbankan, Jakarta: PT.Bumi Aksara Hutapea, Herti Diana, 2010, Pengaruh Beta saham dan return saham terhadap biaya modal ekuitas (cost of equity capital) (studi pada perusahaan manufaktur yang terdaftar di bursa efek indonesia), Skripsi, Universitas HKBP NOMMENSEN
Jerzemowska, M, 2006, The Main Agency Problem and their Consequences
Laughlin,R dan S.Zeff, 2007, Board Effectiveness: Investigating Payment Asymmetry Between Board Members and Shareholders, British Accounting Association Confrence
Megginson,William L., 1997, Corporate Finance Theory, Addison-Wesley Educational Publishers Inc.
Megginson, William L.,Smart, S.C., dan Lucey, B.M, 2008, Introduction to Corporate Finance
Modigliani, F., dan Miller, M.H., 1963, Corporate Income Taxes and The Cost of Capital: A Correction, The American Economic Review, Vol. 53: 433- 443.
Murhadi, W. R., 2010, Study on Dividend Policy: Antecedent and Its Impact On Share Price, Disertasi, Universitas Surabaya
Murhadi, W.R., 2011, Determinan Struktur Modal: Studi di Asia Tenggara, Jurnal Manajemen dan kewirausahaan, UK Petra, Terakreditasi DIKTI, September 2011.
Murhadi, Werner R., 2013, Analisis Laporan Keuangan: Proyeksi dan Valuasi Saham, Jakarta:Salemba Empat.
Purba,I..B.G.I.W.dan P, Yadnya ,2015, Pengaruh Ukuran Perusahaan Dan Leverage Terhadap Profitabilitas Dan Pengungkapan Corporate Social Responsibility, E-Jurnal Manajemen Unud, Vol. 4 No. 8
Rebecca,Y. dan S.V.Siregar, 2014, Pengaruh Corporate Governance Index, Kepemilikan Keluarga, dan Kepemilikan Institusional Terhadap Biaya Ekuitas dan Biaya Utang, Disertasi, Universitas Indonesia
Ross, S.A, 1997, The determination of Financial Structure: The Incentive- Signalling Approach, The Bell Journal of Economics, Vol. 8 No.1, pp 23- 40
Safdar, Racheel and C,Yan, 2016, Information Risk, stock return, and the cost of capital in China, China Finance Review International, Vol. 6 Iss 1 pp.77-95.
Santosa, Christian Edward, 2008., Hubungan antara Pengungkapan Sukarela, Kualitas Laba, dan Biaya Modal, Skripsi Tidak Dipublikasikan, Fakultas Ekonomi Universitas Diponegoro Semarang.
Skaife, H.A., Collins,D.W., Jr. Kinney,W.R. dan Lafond,R, 2006, The Effect of SOX Internal Control Deficiencies on Firm Risk and Cost of Equity, Journal of Accounting Research
Wang, K., dan G. Shailer, 2012, Government Control and Performance Criteria for Chinese Listed Corporations, 2012 AFAANZ Annual Conference, Melbourne, Australia.
Wiyadi., Putra.H.B.D., Trisnawati. R., dan Sasongko. N, 2016, Cost of Equity Capital and Real Earning Management on Listed Companies in LQ-45 and Jakarta Islamic Index, South East Asia Journal of Contemporary Business, Economics and Laq, Vo.11
Yulistina, Maya, 2011, Pengaruh Pengungkapan Intellectual Capital Terhadap Cost of Equity Capital, Skripsi, Universitas Diponegoro
Yulistina, M., dan Achmad,T, 2011, Pengaruh Pengungkapan Intellectual Capital Terhadap Cost of Equity Capital, Skripsi, Fakultas Ekonomi Universitas Diponegoro Semarang.
Yusintha, P., Suryandari, E,2010, Analisis Faktor-Faktor Yang Mempengaruhi Struktur Modal,Jurnal Akuntansi dan Investasi, Vol.11 No.2, pp 179-188
Published
2018-03-01
Section
Bidang Manajemen (M)
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