PENGARUH INTELLECTUAL CAPITAL, KUALITAS AUDIT, MANAJEMEN LABA, RETURN SAHAM TERHADAP FUTURE STOCK RETURN (Studi Empiris Pada Perusahaan Manufaktur Periode 2016-2019)
Abstract
The purpose of this study was to determine Intellectual Capital (IC) and its effect on the future stock returns of manufacturing companies, Audit Quality (KA) on the future stock returns of manufacturing companies, Earnings Management (ML) on the future stock returns of manufacturing companies, and Stock Returns (RS ) to the future stock return of manufacturing companies. The population used in this study are manufacturing companies listed on the Indonesia Stock Exchange from 2016 to 2019. The sample in this study was 30 companies sampled in 2016 to 2019. The research method used to analyze the multiple linear regression test with t as a hypothesis tester. The results of this study prove that simultaneously Intellectual Capital, Audit Quality, and Stock Return simultaneously have a positive and significant effect on future stock returns, while partially Earnings Management has a negative and significant effect on future stock returns.
Keywords: Intellectual Capital, Audit Quality, Earnings Management, Stock Return, Future Stock Return.
Full Text:
PDFReferences
Acheampong, P., Agalega, E. dan Shibu, A.K. 2014. “The Effect of Financial Leverage and Market Size on Stock Returns on the Ghana Stock Exchange: Evidence from Selected Stock in the Manufacturing Sector.†International Journal of Financial Research,
Aiisiah, Nurul. 2012. “Pengaruh Kualitas Audit, Kondisi Keuangan Perusahaan, Opini Audit Tahun Sebelumnya, Pertumbuhan Perusahaan dan Ukuran Perusahaan Terhadap Kecenderungan Penerimaan Opini Audit Going Concernâ€. Skripsi. Universitas Diponegoro:Semarang.
Aisyah, Istiqomah dan Desi Adhariani. 2017. â€Pengaruh Manajemen Laba Terhadap Stock Return Dengan Kualitas Audit Dan Efektivitas Komite Audit Sebagai Variabel Moderasiâ€. Universitas Indonesia, Depok.
Bontis, N. 1998. “Intellectual capital: an exploratory study that develops measures and modelsâ€, Management Decision, Vol. 36 No. 2, p. 63.
Brennan, N. dan Connell, B. 2000, “Intellectual capital: current issues and policy implicationsâ€, Journal of Intellectual Capital, Vol. 1 No. 3, pp. 206-40.
Chen, M.Y., Lin, J.Y., Hsiao, T.Y. dan Lin, T.W. (2010). Invested resource, competitive intellectual capital, and corporate performance. Journal of Intellectual Capital, vol. 11, no 4, pp. 433-450.
Cohen, D., A. Dey, dan T. Lys. (2008). "Real and Accrual Based Earnings Management in the Pre and Post Sarbanes Oxley periods." The Accounting Review 83 (2008): 757–87.
Daito, Apollo. (2011).â€Pencarian Ilmu Melalui Pendekatan: Ontologi, Epistimologi, Aksiologiâ€., Jakarta: Penerbit Mitra Wacana Media.
Davis, James L., (1994) "The Cross-Section of Realized Stock Returns: The Pre- Compustat Evidence," Journal of Finance 49: 1579-1593.
DeAngelo, L.E 1981.â€Auditor independence, low balling, and disclosure regulation. Journal of Accounting and Economicsâ€. Aug. 113-127.
Febrianti, F.R. 2017, “Pengaruh Konservatisme Akuntansi, Real Earnings Management dan Information Asymetry Terhadap Return Sahamâ€. Universitas Islam Negeri Syarif Hidayatullah Jakarta. Jakarta.
Firer, S dan Williams, M. 2003. “Intellectual Capital and Traditional Measures of. Corporate Performanceâ€. Journal of Intellectual Capital. Vol. 4 No. 3, pp. 348-.
Grant, R.M., 2002. “The Resource-Based Theory of Competitive Advantage: Implications for Strategy Formulation. California Management Reviewâ€; 33, (3), pp. 114–135.
Graham, J. R., C. R. Harvey, and S. Rajgopal. (2005). â€The Economic Implications of Corporate Financial Reportingâ€. Journal of Accounting and Economics 40: 3- 73.
Gumanti, T. A. 2004. “Earnings Management: Suatu Telaah Pustaka. Jurnal Akuntansi dan Keuanganâ€, 2(2), 99-104.
Hastuti, S. 2011. “Titik Kritis Manajemen Laba pada Perubahan Tahap Life Cycle Perusahaan: Analisis Manajemen Laba Riil dan Manajemen Laba Akrualâ€. Simposium Nasional Akuntansi XIV Aceh. Universitas Syiah Banda Aceh.
Healy, P.M., and J.M. Wahlen. 1999. “A Review of The Earnings Management. Literature and Its Implications for Standard Settingâ€. Accounting Horizons. Vol. 13 (4) : 365-383.
Indah dan Warganegara.(2013). â€Pengaruh Intellectual Capital Terhadap Kinerja Keuangan Pada Sub Sector Restaurant, Hotel and Tourism Perusahaan yang Terdaftar Di Bursa Efek Indonesia Tahun 2007 – 2011â€.
Indrayanti, Ni Putu Ayu Desy dan Made Gede Wirakusuma. “Pengaruh Manajemen Laba Pada Return Saham Dengan Kualitas Audit Dan Corporate Governance Sebagai Variabel Pemoderasiâ€. E-Jurnal Akuntansi Universitas Udayana, Bali.
Irmawati, Dinar. 2010. “Pengaruh kualitas audit terhadap kemampuan memprediksi laba dengan model Collins et.al (1994)â€. Skripsi. Universitas Diponegoro.
Jackson, E., dan Schuler, R. 1995. “Understanding Human Resource Management in the Context of Organizations and Their Environmentâ€, Annual Review Psychology 46 , 237-264
Jensen, M. C and Meckling, W.H. 1976. “Theory of the Firm: Managerial Behavior ,Agency Costs and Ownership Structureâ€. Journal of Financial Economics, Oktober, 1976, V. 3, No. 4, pp. 305-360.
Kinantya Komala Nur Shabrina dan Fuad. 2013. “Pengaruh Kualitas Audit Terhadap Kemampuan Investor Memprediksi Laba Di Masa Depanâ€. Universitas Diponegoro, Semarang.
Mayangsari. 2004. “Bukti Empiris Pengaruh Spesialisasi Industri Auditor Terhadap Earnings Response Coefficientâ€. Jurnal Riset Akuntansi Indonesia 7 (2), hal. 154- 178.
Nurrohman dan Zulaikha. 2013. “Pengaruh Earning Per Share, Return Saham, Kualitas Audit, dan Hasil Laba terhadap Return Saham Satu Tahun Ke Depanâ€.. Diponegoro Journal of Accounting 2(3): 1-9. ISSN (online) : 2337-3806.
Purnomosidhi, Bambang. 2006. “Praktik Pengungkapan Modal Intelektual pada. Perusahaan Publik di BEJ.†Jurnal Riset Akuntansi Indonesia. Vol 9, No.1.
Rahayu dan Darmawati. 2011. “Pengaruh Kualitas Audit Terhadap Hubungan Earnings Management Dan Return Sahamâ€, Media Riset Akuntansi, Auditing & Informasi, Vol.11 No.2.
Refbacks
- There are currently no refbacks.
e_Jurnal Ilmiah Riset Akuntansi is indexed by:
