PENGARUH KUALITAS AKRUAL TERHADAP BIAYA UTANG DAN BIAYA EKUITAS (Studi Empiris pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia Tahun 2010-2015)

Febri Yentine - Jurusan Akuntansi Fakultas Ekonomi UNP

Abstract


The purpose of this study is to investigate the effect of accruals quality on costs of debt and cost of equity. Accruals quaality divided into two component, which are innate accruals quality and discretionary accruals quality. This study focused on manufacturing company listed on Indonesia Stock Exchange through 2010-2015 which selected by purposive sampling method. There are 196 datas in this observation during four years. Accruals quality is measured using accruals quality model form Francis et al.(2005). The results indicate that accruals quality has no significant effect on costs of debt and cost of equity. The other result is there was no different significant effect between innate accruals quality and discretionary accruals quality to costs of debt and cost of equity it means neither good nor bad accrual quality affected companies cost of debt and cost of equity.

Keywords : Accruals Quality, Innate Accruals Quality, Discretionary Accruals Quality Cost of Debt, Cost of Equity

Full Text:

PDF

References


Anderson, R. C., S. A, Mansi, dan D. M. Reeb. (2002). “Founding the Family Ownership and the Agency Cost of Debts’. Journal of Financial Economics, 68: 263-285.

Arifin, Chairil Aditya. 2012. Analisis Anomali Akrual Pada Peristiwa IPO. Skripsi : Universitas Indonesia.

Brigham, Eugene dan Gapenski C, Louis. 2000. Financial Management Theory and Practice. Diterjemahkan oleh Suharto, Dodo, Wibowo, dan Herman. 2000. Manajemen Keuangan. Jakarta : Erlangga

Candra, Emy Rosiana S dan Erni Ekawati. 2015. Analisis Kualitas Akrual Pada Biaya Modal Perusahaan. Simposium Nasional Akuntansi XVIII. Medan.

Cohen, Daniel A. 2003. Quality of Financial Reporting Choice : Determinants and Economic Consequences. a Paper Presented at London Business School Accounting Symposium.

Dechow, P. & Dichev, I., 2002. The Quality of Accruals and Earnings: The Role of Accrual Estimation Error. The Accounting Review, 77 (1), 35-59.

Francis, J., R. Lafond, P. Olsson and K. Schipper. 2005. The Market Pricing of Accruals Quality. Journal of Accounting and Economics, Vol 39, No.2, pp. 295-327.

Givoly, D., C. Hayn, and Katz, P. Sharon. 2010. Does Public Ownership of Equity Improve Earnings Quality?. The Accounting Review. Vol 85, No.1 : pp 195-225.

Gray, P., Koh Ping-Sheng, dan Tong Yen H. 2009. The Accruals Quality, Information Risk, and Cost of Capital : Evidence from Australia. Journal of Business Finance and Accounting, 36 (1) & (2), 51-72.

Ifonie, Regina Reizky. 2012. Pengaruh Asimetri Informasi dan Manajemen Laba Terhadap Cost of Equity Capital Pada Perusahaan Real Estate yang Terdaftar di Bursa Efek Indonesia. Jurnal Ilmiah Mahasiswa Akuntansi. Vol 1, No.1.

Ikatan Akuntan Indonesia. 2009. Pernyataan Standar Akuntansi Keuangan (PSAK). Jakarta : Ikatan Akuntan Indonesia.

Jensen, M., dan W.H. Meckling. 1976. Theory Of The Firm: Magerial Behavior, Agency Cost And Ownership Structure. Journal Of Financial Economics 3. Hal. 305 - 360.

Juniarti dan A. A. Sentosa. 2009. Pengaruh Good Corporate Governance, Voluntary Disclosure terhadap Biaya Utang (Cost of Debt). Jurnal Akuntansi Keuangan, Vol. 11, No. 2, November, 88-100.

Kieso, Donald E., Jerry J. Weygandt., Terry D. Warfield. 2011. Intermediate Accounting. Edisi 14 John Wiley and Sons, Inc.

Rebecca, Yulisa dan Sylvia Veronica Siregar. 2012. Pengaruh Corporate Governance Index, Kepemilikan Keluarga, dan Kepemilikan Institusional terhadap Biaya Ekuitas dan Biaya Utang : studi Empiris pada Perusahaan Manufaktur yang Terdaftar di BEI. Simposium Nasional Akuntansi XV. Banjarmasin.

Scott, William. R. 2015. Financial Accounting Theory, Seventh Edition. Pretice Hall Canada Inc. Scarborough, Ontario.

Soewardjono. 2005. Teori Akuntansi Perekayasaan Pelaporan Keuangan, Edisi Ketiga. BPFE : Yogyakarta.

Sondang, Maria. 2012. Pengaruh Akrual Terhadap Premi Resiko Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia Tahun 2006-2009. Skripsi : Universitas Indonesia

Triningtyas, Irine Ayu dan Silvya Veronica Siregar. 2014. Pengaruh Kualitas Akrual Terhadap Biaya Utang dan Biaya Ekuitas: Studi pada Perusahaan yang Terdaftar di Bursa Efek Indonesia Tahun 2005-2011. Simposium Nasional Akuntansi XVII. Mataram, Lombok.

Utami,Wiwik. 2005. Pengaruh Manajemen Laba Terhadap Biaya Modal Ekuitas. Simposium Nasional Akuntansi VIII. Solo.

Windarti, Esti. 2016. Analisis Perbedaan Kualitas Accrual Antara Sebelum dan Sesudah Pengadopsian International Financial Reporting Standard (IFRS) pada Perusahaan Manufaktur Di Indonesia (Studi Empiris Pada Perusahaan Manufaktur Yang Terdapat Di Bursa Efek Indonesia Tahun 2009-2014). Tesis : Universitas Muhammadiyah Surakarta.