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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Riset empiris f telah banyak menunjukkan bahwa disclosure perusahaan akan menurunkan asimetri informasi. Lessons from Latin America.

Cost of equity capital Research Papers –

The agent has pre-contract private information about his own type. Penelitian ini mencoba untuk menguji apakah penurunan asimetri informasi sebagai akibat adanya disclosure dapat menurunkan cost of equity capital.

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The output is measured with an additive noise. Large companies experience a greater declining captial of equity than small companies, therefore, a large company earned a greater benefit resulting from a greater disclosure, compared from a small company. The two inputs can be either economic complements or substitutes. Nevertheless, there is no significant direct and indirect relationship between earnings quality and the cost of capital when earnings quality was measured by income smoothing.

Los resultados de este trabajo tienen una importancia considerable tanto para los legisladores como para las empresas. The measures for pre-SOX are compared to the measures.

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Cost of Capital Estimation for Major Corporations. The results of the analysis show that voluntary disclosure and earnings management have a effect on information asymmetry and cost of equity capital, but based on the analysis of the voluntary disclosure path and earnings management will have a greater effect on cost of equity capital if tested directly, rather than through information asymmetry with Analysis of data used to test the hypothesis is multiple linear regression analysis techniques.


The number of companies taken as samples in the research cover about companies, listed at Jakarta Stock Exchange before Firstly, information asymmetry affects positively to cost of equity capital, and secondly, information asymmetries serve as mediator between earnings quality measured by discretionary accrual and the cost of equity capital.

This study uses 3 years sample period, ie — This result contrasts with earlier results where only a capital rationing is shown to be optimal.

The population in this study are manufacturing companies listed on the Stock Exchange 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.

Anda dapat mengecek ketersediaan versi cetak dari penelitian ini melalui petugas kami dengan mencatat nomor inventaris di atas apabila ada Ketentuan Layanan: Secara umum diasumsikan bahwa perusahaan yang memiliki pengungkapan yang lebih besar akan mampu menurunkan cost of equity capital.

Litigation and the value of tobacco companies. This fact makes it possible to separate the hypothesis between a large company and a small one. Skip to main content. Penelitian ini menguji hubungan antara asimetri informasi dan cost of equity capital.


Is Capital Rationing Always Optimal? Results of the study found that the information asymmetry positive and significant impact on the cost of equity capital. The conventional wisdom, it is generally assumed that a company which has a disclosure at a greater extent will reduce the cost of equity capital.

As expected, the research showed u p the existence of a positive relationship between information asymmetry and cost of equity capital.

Why do entrepreneurs use franchising as a financial tool? A controlled-variable, NPSR, also brought effects on the number of cost of equity capital significantly. Journal of Finance, 38 Desember: Abstract This study aims to examine and provide analysis related to the effect of the relationship Profit Management and Information Asymmetry of the Cost of Equity Capital.

These results indicate that the size of the earnings management behavior does not determine the increase in the cost of equity capital. Help Center Find new research papers in: The fundamental premise of 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 opposed to Asian Controllability analysis of modified Petlyuk structures.