ANALISA PENGARUH MANAJEMEN LABA DAN ASIMETRI INFORMASI TERHADAP COST OF EQUITY CAPITAL (Studi pada Perusahaan Manufaktur yang. Pengaruh Voluntary Disclosure, Manajemen Laba terhadap Cost Of Equity Capital dengan Asimetri Informasi Jurnal Akuntansi dan Keuangan, 5(2): of Equity. Capital dengan Asimetri Informasi sebagai Variabel Intervening. adalah statistik deskriptif dan analisis jalur (path analysis). Hasil penelitian Asimetri. Informasi berpengaruh signifikan positif terhadap Cost of Equity Capital.

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Los resultados de este trabajo tienen una importancia considerable tanto para los legisladores como para las empresas. Penelitian ini menguji hubungan antara asimetri informasi dan cost of equity capital.

Yudi Partama Putra; This study aims to 1 determine the effect of asymmetry of information on costs of equity at manufacturing companies listed in Indonesia Stock Exchange period2 know the effect of earnings management on equity capital costs at manufacturing companies listed on the Stock Exchange in3 determine the effect of information asymmetry and earnings management simultaneously on the cost of equity capital in manufacturing companies listed on the Indonesian Stock Exchange A Test Using Path Analysis.

Perusahaan yang diambil sebagai sampel dalam riset ini sebanyak 2 13 perusahaan yang terdaftar di Bursa Efek Jakarta sebelum tahun Riset empiris f telah banyak menunjukkan bahwa disclosure perusahaan akan menurunkan asimetri informasi.

Keywords Earnings Management, asymmetry of information, the size of the company, Cost of Equity Capital.

Skip to main content. This research examines the association between an information asymmetry and cost of equity capital. User Username Password Remember me. Lebih jauh, riset ini mencoba menguji perbedaan tingkat penurunan cost of equity capital sebagai akibat penurunan asimetri informasi antara perusahaan besar dan perusahaan kecil. This study aims to determine the influence of voluntary disclosure and earnings management to cost of equity capital with information asymmetry as intervening.

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This fact makes it possible to separate the hypothesis between a large company and a small one. But when the two inputs are complements, then either a marginal capital rationing or a marginal leniency could be the optimal response.

Cost of equity capital Research Papers –

Indeed, corporations located into emerging countries are perceived asimetdi being riskier; therefore, investors require higher returns which increase the financing costs The empirical research is based on companies listed in the French SBF stock market index. As expected, the research showed u p the existence of a positive relationship between information asymmetry and cost of equity capital.

This paper presents the theoretical background concerning capital budgeting techniques and cost of capital estimation and a literature review on cost of capital estimation practice applied by key European corporations as dann to Asian and American firms. Journal of Finance, 38 Desember: Cost of equity capital is one caiptal in assessing an investment.

As for measuring earnings management, researchers used a specific aqrual model and for information asymmetry was measured using spreads. Descriptive statistical analysis used in this study to provide a picture or description, the maximum value, minimum value, average value mean and standard deviation to the asymmetry of information, management of earnings and cost of equity capital. Our results, therefore, provide an explanation for why firms may employ a capital rationing for a project that may increase manufacturing complexity and hence may reduce managerial labor productivity, yet employ a less strict criterion for evaluating a productivity-enhancing project.

An empirical research indicated more disclosure will reduce information asymmetry.

Asimetri Informasi dan cost of equity capital

Hasil uji beda koefisien antara perusahaan besar dan kecil menunjukkan bahwa penurunan cost of equity capital pada perusahaan besar lebih besar dibandingkan perusahaan kecil. This paper studies corporate exposure to country risk from the perspective of the cost of equity. Log In Sign Up. The impact of intellectual capital disclosure on cost of equity capital: Jurnal Akuntansi dan Keuangan, 5 2: Disclosure Level and the Cost of Equity Capital. Lessons from Latin America.


The findings confirm our hypotheses that stipulate the existence of a significant and negative association between intellectual capital disclosure with its two components human capital, structural and the cost of equity.

Juniarti dan Frency Yunita. The output is measured with an additive noise. This results implied that the companies have to improve the quality of their disclosure with the intention that the information asymmetry happening among the market players will declines and so will the cost of equity capital. Evidence on Best Practice. These results indicate that the size of the earnings management behavior does not determine the increase in the cost of equity capital.

Penelitian ini mencoba untuk menguji apakah penurunan asimetri informasi sebagai akibat adanya disclosure dapat menurunkan cost of equity capital. Cost of Capital Estimation for Major Corporations.

Cost of equity capital

Vol 6 No 1 This result contrasts with earlier results where only a capital rationing is shown to be optimal. Asimetri Informasi dan Cost of Equity Capital. Lebih lanjut, penelitian ini juga menguji perbedaan besaran penurunan cost of equity capital untuk perusahaan besar dan perusahaan kecil.

The measures for pre-SOX are compared to the measures. The quality of earnings is measured by two proxies, namely discretionary accrual and income smoothing.

A controlled-variable, NPSR, also brought effects on the number of cost of equity capital significantly. Click here to sign up. Empirical Perspective on Corporate Cost of Equity. Results of the study found that the information asymmetry positive and significant impact on the cost of equity capital.

Litigation and the value of tobacco companies.