PENGARUH PRAKTIK PERATAAN LABA TERHADAP COST OF EQUITY CAPITAL (Pada Perusahaan Manufaktur yang Terdaftar di BEI)

SAPUTRA, ANGGA (2009) PENGARUH PRAKTIK PERATAAN LABA TERHADAP COST OF EQUITY CAPITAL (Pada Perusahaan Manufaktur yang Terdaftar di BEI). Other thesis, Universitas Sebelas Maret.

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    Abstract

    The purpose of this paper is to provide empirical evidence the effect of income smoothing on cost of equity capital. Income smoothing measured as the negative correlation of a firm’s change in discretionary accruals with its change in pre-managed earnings.Cost of equity capital, as dependent variable, measured using EBOmodel,introduced by Edwards andBell (1961), Ohlson (1995), Feltham and Ohlson (1995), also Abarbanell and Bernard (1994)as used by Botosan and Plumlee (2000). The population is manufacturer listed in Indonesian Stock Exchange (BEI), during 2003–2007, with 66 firms samples this research consist of 330 observations. This research uses multiple regression analysis with SPSS ® for Windows ® ver.15.00as statistical software. The result shows that firm’s size, bookto market, leverage, income smoothing in aggregate significantly influence cost of equity capital at 45,7%. Partially, the result also indicates that (1) firm’s sizeis significantly negative (2) book to market ratio is significantly negative, (3) leverage is significantly negative, (4) income smoothing is significantly negative to cost of equity capital. Keywords: income smoothing, cost of equity capital, discretionary accruals proxy, EBOmodel, prediscretionary income, Modified Jones Model

    Item Type: Thesis (Other)
    Subjects: H Social Sciences > HG Finance
    Divisions: Fakultas Ekonomi > Akuntansi
    Depositing User: Lia Primadani
    Date Deposited: 18 Jul 2013 15:55
    Last Modified: 18 Jul 2013 15:55
    URI: https://eprints.uns.ac.id/id/eprint/6162

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