PENGARUH MANAJEMEN LABA, ASIMETRI INFORMASI DAN PENGUNGKAPAN SUKARELA TERHADAP BIAYA MODAL EKUITAS PERUSAHAAN SEKTOR PROPERTY DAN REAL ESTATE YANG TERDAFTAR DI BEI PERIODE 2015- 2017
Daftar Isi:
- DEANISSA RAFI’I. The influence of Earning Management, Information Asymmetry, and Voluntary Disclosure on The Cost of Equity Capital in Property and Real Estate Sector Listed on Indonesian Stock Exchange (IDX) in 2015-2017. The purpose of this research is to analyze the influence of profit management, information asymmetry, and voluntary disclosure on the cost of equity capital. Period used are three, from 2015 to 2017. This study using secondary data from the annual report of the property and real estate sector company published in IDX, the company's stock price data from yahoo finance, and the company’s bid-ask stock data from The Capital Market Institute (TICMI). The techniques used for sampling is purposive sampling, hence 24 samples of property and real estate sector company with total 72 observation of property and real estate sector company. The Cost of Equity Capital as the dependent variable is measured by the CAPM method. While the independent variable are earning management which is measured by discrectionary accrual using Jones Model 1995, information asymmetry which is measured by the bid ask spread, and Voluntary Disclosure is measured by Disclosure Index from voluntary disclosure items. The influence of the third variable are tested by using multiple regression analysis. T- test result showed that the earning management has insignificant influence on the cost of equity capital. While the information asymmetry and voluntary disclosure has a influence on the cost of equity capital. Key Words: Cost of Equity Capital, Earning Management, Information Asymmetry, Voluntary Disclosure