The Effect of Earnings Opacity on Cost of Equity with Earnings Persistence as Moderating Variable

Authors

  • Dervien Listionargo University of Sultan Ageng Tirtayasa
  • Lia Uzliawati University of Sultan Ageng Tirtayasa
  • Iis Ismawati University of Sultan Ageng Tirtayasa

DOI:

https://doi.org/10.54408/jabter.v1i5.95

Keywords:

Earnings Opacity, Earnings Aggressiveness, Earnings Smoothing Earnings Persistence, Cost of Equity

Abstract

The purpose of this study was to determine the effect of earnings opacity as measured by earnings aggressiveness and earnings smoothing on the cost of equity with earnings persistence as a moderating variable. This research focuses on manufacturing companies listed on the Indonesia Stock Exchange in 2017-2021. The population used in this study amounted to 16 manufacturing companies using purposive sampling method based on certain criteria. This research uses associative technique with quantitative methodology. The technique used in collecting data is by using library research derived from the company's annual financial statements. The hypothesis test used is the Multiple Linear Regression Test and Moderated Regression Analysis using the SPSS 25 program. The results of this study show a significant positive effect of earnings aggressiveness on the cost of equity, earnings smoothing has a positive effect on the cost of equity but is not significant, earnings persistence is able to weaken the relationship between earnings aggressiveness and the cost of equity, and earnings persistence is not able to moderate the relationship between earnings smoothing and the cost of equity.

Downloads

Download data is not yet available.

References

Amelia, V., & Yadnyana, I. (2016). Pengaruh Good Corporate Governance, Kepemilikan Keluarga Dan Kepemilikan Institusional Pada Biaya Ekuitas Perusahaan Manufaktur. E-Jurnal Akuntansi, 16(2), 1264–1289.

Andriani, L., & Afriyenti, M. (2019). Kualitas Akrual Memoderasi Earnings Opacity Terhadap Biaya Ekuitas. Jurnal Eksplorasi Akuntansi, 1(3), 1363–1375.

Beidleman, C.R. 1973. Income Smoothing: The Role Of Management. The Accounting Review 48: 653-667.

Bhattacharya, U., H. Daouk, dan M. Welker. 2003. “The World Price of Earnings Opacity.” The Accounting Review, Vol. 78, No. 3: 641–678.

Candra, E. R. S. dan E. Ekawati. 2015. “Analisis Kualitas Akrual pada Biaya Modal Perusahaan.” Simposium Nasional Akunmtansi XIX.

Ekawati dan Hansen. 2016 “Peristensi Laba Pada Perusahaan Dan Industri Dalam Kaitannya Dengan Volatilitas Arus Kas Dan Akrual.” Simposium Nasional Akuntansi XIX, Lampung 2016.

Delita, I., & Mulyani, E. (2018). Pengaruh Earnings Aggresiveness Terhadap Cost of Equity Dengan Persistensi Laba Sebagai Variabel Moderating (Studi Empiris Pada Perusahaan Manufaktur yang Terdaftar di BEI Tahun 2014-2016). Wahana Riset Akuntansi, 6(1), 1193.

Fanani, Z., Ningsih, S., & Akuntansi, D. (2010). Faktor-faktor penentu kualitas pelaporan keuangan dan kepercayaan investor. SNA XII Palembang.

Francis, J., R. LaFond, P. Olsson, dan K. Schipper. 2004. “Cost of Equity and Earnings Attributes.” The Accounting Review, Vol.79, No.4: 967–1010.

Gamayuni, Rindu. 2012. “ Relevansi kinerja keuangan, kualitas laba, Intangible Asset. Dengan Nilai Perusahaan.” Trikonomika, Volume 11, No. 2, desember 2012. ISSN 1411-514X.

Ghozali, Imam. (2016). Aplikasi Analisis Multivariete Dengan Program IBM SPSS 23 (Edisi 8). Cetakan ke VIII. Semarang: Badan Penerbit Universitas Diponegoro.

Jensen, M. C. dan W. H. Meckling. 1976. “Theory of the Firm: Managerial Behavior, Agency Cost and Ownership Structure.” Journal of Financial Economics, Vol. 3, No. 4, October: 305–360.

Kurnia, L., & Arafat, M. Y. (2015). Pengaruh Manajemen Laba dan Ukuran Perusahaan terhadap Biaya Modal Ekuitas pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia. Jurnal Ilmiah Wahana Akuntansi, 10(1), 45–70.

Malau, M., Murwaningsari, E., Mayangsari, S., & Aryati, T. (2019). Pengaruh Opasitas Laba, Asimetri Informasi, Dan Keinformatifan Laba Terhadap Biaya Ekuitas Di Perusahaan Manufaktur. Jurnal Akuntansi Trisakti, 6(1), 43. https://doi.org/10.25105/jat.v6i1.4918

Marpaung, E. I. & Herawati, V. (2020). The Influence Of Earnings Aggresiveness And Smoothing On The Cost Of Equity. South East Asia Journal Of Contemporary Business, Economic And Law, Vol. 22(1), 2289-1560.

Rachmawati, Dkk. 2016 “Kualitas Akrual Memoderasi Earnings Opacity Terhadap Biaya Ekuitas.” Simposium Nasional Akuntansi XIX, Lampung 2016.

Sunarto. (2016). Kualitas Akrual Memoderasi Earnings Opacity Terhadap Biaya Ekuitas. Simposium Nasional Akuntansi XIX, Lampung, 2016.

Wijayanti, Handayani Tri. (2006). Analisis Pengaruh Perbedaan Antara Laba Akuntansi Dan Laba Fiskal Terhadap Persistensi Laba, Akrual, Dan Arus Kas. Simposium Nasional Akuntansi IX, Padang.

Downloads

Published

2022-06-24

How to Cite

Listionargo, D. L., Uzliawati, L., & Ismawati, I. (2022). The Effect of Earnings Opacity on Cost of Equity with Earnings Persistence as Moderating Variable. Journal of Applied Business, Taxation and Economics Research, 1(5), 506–514. https://doi.org/10.54408/jabter.v1i5.95

Issue

Section

Articles