ASIMETRI INFORMASI DAN COST OF EQUITY CAPITAL PDF

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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This study examines the direct and indirect impacts of earnings quality on cost of equity capital by using path analysis. Abstract Cost of equity capital is one benchmark in assessing an investment. Vol 6 No 1 Remember me on this computer. This study finds that information asymmetry has two important roles in determining the cost of equity capital. Journal of Finance, 38 Desember: In order to control the size effects, analytical model in the research also utilizes the variables of market values of equity.

This fact makes it possible to separate the hypothesis between a large company and a small one. The population in this study are manufacturing companies listed on the Stock Exchange We analyze a principal-agent model with risk neutrality and with two Dengan menggunakan perusahaan yang terdaftar di BEJ sebelum tahundan menggunakan bid-ask spread sebagai dasar pengukuran asimetri informasi, penelitian ini menemukan hubungan positif antara asimetri informasi dan cost of equity capital.

Accounting Review, 72 July: Guna mengontrol size effect, model analisis dalam riset ini juga memasukkan variabel nilai pasar ekuitas perusahaan. Diponegoro Journal of Accounting. The quality of earnings is measured by two proxies, namely discretionary accrual and income smoothing. Perusahaan yang diambil sebagai sampel dalam riset ini sebanyak 2 13 perusahaan yang terdaftar di Bursa Efek Jakarta sebelum tahun EVA Economic Value Added better measures the wealth created by a firm during a period, than does traditional accounting earnings, by explicitly assigning a cost of equity capital and removing the distortions of accounting conventions.

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A Test Using Path Analysis. The optimum balance sheet is a useless concept!

This study is one of the very first to provide empirical evidence of the association between Cost of equity capital and the level of disclosure in the three individual intellectual capital categories human; structural and relational capital.

Project Evaluation and Control in Decentralized Firms: This study uses 3 years sample period, ie — The classical assumption test used in this research is using normality test, multicollinearity test, heteroscedasticity test, and autocorrelation test. The results in this paper are of considerable importance to both policy makers and firms. Skip to main content Skip to main navigation menu Skip to site footer. The empirical research is based on companies listed in the French SBF stock market index.

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. The two inputs can be either economic complements or substitutes. Lessons from Latin America.

Electronic Theses & Dissertations Universitas Gajah Mada

User Username Password Remember me. Click here to sign up. This study aims to determine the influence of voluntary disclosure and earnings management to cost of equity capital with information asymmetry as intervening. Journal of Accounting and Economics 31 Disclosure level and cost of equity capital: Based on the results of the research indicate that 1 information asymmetry has positive and significant effect to cost esuity equity 2 earnings management has no significant effect on Cost adn equity.

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Los resultados de este trabajo tienen una infrmasi considerable tanto para los legisladores como para las empresas. Penelitian ini menguji hubungan antara asimetri informasi dan cost of equity capital. While profit management no significant effect on the cost of equity capital. F test results show that the variable information asymmetry and earnings management simultaneously affect the cost of equity capital.

Cost of equity capital Research Papers –

Disclosure Level and the 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.

Indeed, corporations located into emerging countries are perceived as being riskier; therefore, investors require higher returns which increase the financing costs Evidence on Best Practice. Ads help cover our server costs.

Pengujian hipotesis dilakukan secara cross sectional dengan mengambil periode penelitian tahun A controlled-variable, NPSR, also brought effects on the number of cost of equity capital significantly. When capital investments are made in an agency setting, we show that, even without risk considerations, capital rationing need not be the only rational outcome. Litigation and the value of tobacco companies. Indeed, corporations located into emerging countries are perceived as being riskier; therefore, investors require higher returns EVA Economic Value Added better measures the wealth created by a firm during a equiy, than does traditional accounting earnings, by explicitly assigning a cost of equity capital and removing the distortions of accounting conventions

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