MANAJEMEN LABA, KUALITAS AUDIT, DAN BIAYA MODAL EKUITAS (Studi pada Perusahaan Manufaktur Sektor Industri Barang Konsumsi yang Terdaftar Di Bursa Efek Indonesia Periode 2014-2016)
Jacobus Widiatmoko, MG. Kentris Indarti, dan Frisnanto Bagas Lazuardi
Fakultas Ekonomika dan Bisnis Universitas Stikubank (UNISBANK) Semarang
Abstract
ABSTRACT This study aims to examine the effect of earnings management and audit quality on the cost of equity capital using leverage and firm size as control variables. Earnings management is proxied using accrual specifics, audit quality is proxied by a dummy variable that is value 1 for Big Four KAP and value 0 for Non Big Four KAP, and cost of equity capital is estimated by Ohlsons model. The population in this study are manufacturing companies in the consumer goods industry sector which were listed on the Indonesia Stock Exchange during 2014-2016. The research sample was obtained by purposive sampling technique and analyzed using multiple linear regression. The results showed that earnings management had a positive effect on the cost of equity capital. Meanwhile, audit quality does not affect the cost of equity capital.
Keywords: earnings management, audit quality, cost of equity capital, leverage, firm size.
Topic: Manajemen Keuangan