Ernawati, Eva (2014) Pengaruh Mekanisme Corporate Governance Terhadap Cost Of Equity Capital: Pengujian Efek Kualitas Laba Sebagai Variabel Mediasi. Magister thesis, Universitas Brawijaya.
Abstract
Penelitian ini bertujuan untuk menguji pengaruh mekanisme corporate governance terhadap cost of equity capital dengan kualitas laba sebagai variabel mediasi. Mekanisme corporate governance diproksikan dengan komposisi komisaris independen dan ukuran komite audit. Penelitian ini menambahkan variabel kontrol berupa pengungkapan intellectual capital dan asimetri informasi. Populasi dalam penelitian ini adalah perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia pada tahun 2012. Sampel penelitian dipilih dengan menggunakan metode purporsive sampling dengan kriteria yang digunakan berdasarkan judgment sampling dan diperoleh 91 perusahaan yang memenuhi kriteria penelitian. Metode analisis yang digunakan adalah path analysis. Hasil penelitian menunjukkan bahwa komposisi komisaris independen dan ukuran komite audit berpengaruh positif terhadap kualitas laba. Hal ini dikarenakan komposisi komisaris independen dan ukuran komite audit memiliki peran dalam melakukan fungsi pengawasan terhadap kinerja manajemen dalam menghasilkan laporan keuangan perusahaan khususnya laba perusahaan. Akan tetapi, komposisi komisaris independen dan ukuran komite audit tidak memengaruhi cost of equity capital secara langsung. Hal ini disebabkan kinerja komposisi komisaris independen dan ukuran komite audit tidak mampu menjamin kinerja manajemen dalam menurunkan cost of equity capital. Dalam penelitian ini tingkat cost of equity capital perusahaan dipengaruhi oleh kualitas laba. Kualitas laba berhasil memediasi secara penuh pengaruh komposisi komisaris independen dan ukuran komite audit terhadap cost of equity capital. Hasil penelitian dari variabel kontrol pengungkapan intellectual capital dan asimetri informasi berpengaruh positif terhadap cost of equity capital.
English Abstract
This research aimed to test influence of corporate governance mechanism on cost of equity capital, with earnings quality as intervening variable. Corporate governance mechanism was proxied by independent commissioner and audit committee. This research added control variables such as intellectual capital and information asymmetry. population of this research was manufacture enterprises listed in Indonesia Stock Exchange on 2012. Research samples were determined by purposive sampling method and considering judgment sampling criteria which resulted in 91 companies fulfilled research criteria. Analysis method used was path analysis. Research results showed that independent commissioner and audit committee have positive influence on earnings quality. It is because independent commissioner and audit committee had roles supervison function to management work in producing company financial report, especially company profit. However, independent commissioner and audit committee did not effect to cost of equity capital directly. It was because independent commissioner and audit committee were not able to ensure management work in reducing cost of equity capital. In this research, level of company cost of equity capital was influenced by earnings quality. Earnings quality succeeded to mediate completely impact of independent commissioner composition and audit committee size against cost of equity capital. Whereas control variables which were intellectual capital and information asymmetry positively impacted cost of equity capital.
| Item Type: | Thesis (Magister) |
|---|---|
| Identification Number: | TES/658.4/ERN/p/2014/041500291 |
| Subjects: | 600 Technology (Applied sciences) > 658 General management > 658.4 Executive management |
| Divisions: | S2/S3 > Magister Ilmu Ekonomi, Fakultas Ekonomi dan Bisnis |
| Depositing User: | Endang Susworini |
| Date Deposited: | 13 May 2015 09:17 |
| Last Modified: | 13 May 2015 09:17 |
| URI: | http://repository.ub.ac.id/id/eprint/159565 |
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