ANALISIS PENGARUH CASH HOLDINGS, LEVERAGE, DAN DIVIDEND POLICY TERHADAP EARNINGS QUALITY DENGAN CORPORATE GOVERNANCE MECHANISM SEBAGAI VARIABEL MODERASI.

Wijayanti, Sherlin (2023) ANALISIS PENGARUH CASH HOLDINGS, LEVERAGE, DAN DIVIDEND POLICY TERHADAP EARNINGS QUALITY DENGAN CORPORATE GOVERNANCE MECHANISM SEBAGAI VARIABEL MODERASI. Bachelor thesis, Universitas Pelita Harapan.

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Abstract

Penelitian ini bertujuan untuk menganalisis pengaruh cash holdings, leverage, dan dividend policy terhadap earnings quality, dengan corporate governance mechanism sebagai variabel moderasi. Earnings quality, diukur melalui kualitas akrual, menjadi fokus utama untuk menggambarkan keakuratan laba dalam laporan keuangan dan sebagai prediktor laba masa depan. Dalam konteks ini, cash holdings, diukur dengan cash and cash equivalents to total assets, memberikan pengaruh positif terhadap earnings quality. Begitu pula dengan leverage, diukur melalui debt to asset ratio, yang juga memiliki pengaruh positif terhadap earnings quality. Sementara dividend policy, diukur dengan dividend payout ratio, tidak terbukti memiliki pengaruh signifikan terhadap earnings quality. Corporate governance mechanism, diproksikan dengan CEO duality dan institutional ownership, digunakan sebagai variabel moderasi. Hasil penelitian menunjukkan bahwa institutional ownership berperan sebagai moderasi antara dividend policy terhadap earnings quality. Namun, institutional ownership tidak mampu memoderasi pengaruh cash holdings dan leverage terhadap earnings quality. Begitu juga, CEO duality tidak berhasil memoderasi pengaruh cash holdings, leverage, dan dividend policy terhadap earnings quality. Penelitian ini menggunakan data sekunder dari 121 perusahaan di industri Information Technology di Jepang dari tahun 2017 hingga 2021 dengan metode purposive sampling./This research aims to analyze the influence of cash holdings, leverage, and dividend policy on earnings quality, with corporate governance mechanism as moderating variables. Earnings quality, measured through accrual quality, is the primary focus to depict the accuracy of profits in financial statements and as a predictor of future earnings. Cash holdings, measured by cash and cash equivalents to total assets, exhibit a positive influence on earnings quality. Similarly, leverage, measured by the debt-to-asset ratio, also has a positive impact on earnings quality. Dividend policy, measured by the dividend payout ratio, has not been proven to have a significant effect on earnings quality. Corporate governance mechanism, proxied by CEO duality and institutional ownership, are used as moderating variables. Research results indicate that institutional ownership acts as a moderation between dividend policy and earnings quality. However, institutional ownership is unable to moderate the influence of cash holdings and leverage on earnings quality. CEO duality does not successfully moderate the impact of cash holdings, leverage, and dividend policy on earnings quality. This study utilizes secondary data from 121 companies in the Information Technology industry in Japan from 2017 to 2021 using purposive sampling.

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