Pengaruh perataan laba dan pengumuman informasi laba positif terhadap reaksi pasar dengan mekanisme tata kelola perusahaan sebagai variabel pemoderasi = The effect of income smoothing and positive earnings information announcements on market reaction with corporate governance mechanism as moderating variable

Sebastian, Danny (2018) Pengaruh perataan laba dan pengumuman informasi laba positif terhadap reaksi pasar dengan mekanisme tata kelola perusahaan sebagai variabel pemoderasi = The effect of income smoothing and positive earnings information announcements on market reaction with corporate governance mechanism as moderating variable. Bachelor thesis, Universitas Pelita Harapan.

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Abstract

Penelitian ini dilakukan untuk menguji pengaruh perataan laba dan pengumuman informasi laba positif terhadap reaksi pasar dengan mekanisme tata kelola perusahaan sebagai variabel pemoderasi. Populasi pada penelitian ini adalah perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia (BEI) periode 2013-2017. Pemilihan sampel menggunakan teknik purposive random sampling method dengan jumlah sampel sebesar 380 sampel selama 5 tahun penelitian. Teknik pengumpulan data ialah dengan studi dokumentasi (data berupa laporan tahunan perusahaan). Analisis data yang digunakan yaitu analisis data deskriptif, uji asumsi klasik, uji kelayakan model dan pengujian hipotesis menggunakan teknik analisis regresi linier berganda pada SPSS versi ke 25. Berdasarkan hasil penelitian, diketahui bahwa (1) perataan laba tidak berpengaruh signifikan terhadap reaksi pasar, (2) pengumuman informasi laba positif berpengaruh positif terhadap reaksi pasar, (3) jumlah dewan komisaris dan kepemilikan manajerial memperkuat hubungan antara perataan laba dengan reaksi pasar, (4) klasifikasi akuntan publik memperlemah hubungan antara perataan laba dengan reaksi pasar, (5) jumlah dewan komisaris dan CEO duality memperkuat hubungan positif antara pengumuman informasi laba positif dengan reaksi pasar. Sedangkan, hipotesis terkait mekanisme tata kelola lainnya tidak terbukti menjadi variabel moderasi pada hubungan antara perataan laba dan pengumuman informasi laba positif terhadap reaksi pasar. / This research aims to examine the effect of income smoothing and positive earnings information announcements on market reaction with corporate governance mechanism as moderating variable. The population for this research is manufacturing companies listed on Indonesia Stock Exchange for 2013-2017 period. The technique for choosing samples is purposive random sampling method with sample size of 380 samples for 5 years of research period. Technique that are used for collecting data is study documentation (data in the form of company annual reports). Data analysis used in this research includes descriptive data analysis, classical assumption tests, tests of goodness of fit and hypothesis tests using multiple regression analysis techniques in the SPSS (25th version). The result of this research shows that (1) income smoothing doesn’t have a significant effect on market reaction, (2) positive earnings information announcement has a positive effect on market reaction, (3) the number of board of commissioners and managerial ownership strengthen the relationship between income smoothing and market reaction, (4) classification of public accountant weakens the relationship between income smoothing and market reaction, (5) the number of board of commissioners and CEO duality strengthens the positive relationship between positive earnings information announcements and market reactions. Whereas, other hypotheses related to other corporate governance mechanisms do not appear to be a moderating variable in the relationship between income smoothing and positive earnings information announcements on market reactions.

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