Abstrak Penelitian ini bertolak dari pentingnya profesionalisme akuntan sebagai human capital pada kantor akuntan sebagai perusahaan jasa. Penelitian ini dimaksudkan untuk mempelajari pengaruh human capital terhadap kinerja auditor pada KAP yang ada di Bandung dengan mengajukan hipotesis penelitian bahwa, human capital berpengaruh positif terhadap kinerja auditor, baik secara parsial maupun secara simultan. Beberapa dimensi sebagai sub variabel yang membentuk human caputal yang akan dipelajari direpresentasikan oleh faktor-faktor individual capability, individual motivation, leadership, the organizational climate, dan workgroup effectiveness. Adapun kinerja auditor diukur dengan tiga faktor yangmembentuk kinerja yaitu (l) faktor individual, (2) faktor psikologis, dan (3) faktor organisasi. Penelitian dilaksanakan pada kantor akuntan yang berlokasi di Bandung. Dari jumlah populasi diambil sampel secara random yang terdiri dari akuntan senior dan akuntan yunior sebagai responden. Teknik pengumpulan data yang digunakan adalah dengan menggunakan angket. Sesuai dengan skala pengukurannya, data yang telah terkumpul diuji validitas dengan rumus korelasi Rank Spearman dan reliabilitasnya dengan Alpha Cronbach. Data yang telah diuji dan dinyatakan valid dan reliable selanjutnya dianalisis dengan anaiisis korelasi dan regresi. Berdasarkan hasil analisis korelasi dan regresi untuk menguji hipotesis diperoleh temuan hasil penelitian bahwa human capital secara simultan memiliki hubungan yang cukup erat dengan kinerjanya. Sedangkan dari analisis regresi multiple diketahui bahwa setiap dimensi memberikan kontribusi beragam terhadap kinerja auditor dan signifikan pada p:0,05, sehingga dari hasil uji signifikansi, baik secara parsial maupun simultan dapat disimpulkan untuk menerima hipotesis penelitian, yaitu human capital berpengaruh positif terhadap kinerja auditor. Kata Kunci human capital, kinerja auditor Pendahuluan Setiap organisasi memiliki tujuan dan untuk mencapai tujuan tersebut memerlukan sumber daya. Penggunaan sumber daya tersebut harus dikelola secara efektif dan efisien sehingga dapat meningkatkan nilai organisasi tersebut. Pengelolaan sumber daya organisasi yang baik juga diperlukan untuk menjamin kepercayaan berbagai pihak yang berkepentingan seperti investor, kreditor, pemerintah, masyarakat luas dan lain sebagainya. Sehubungan dengan hal tersebut, laporan penggunaan sumber daya suatu organisasi, seperti halnya laporan keuangan suatu perusahaanharus diperiksa terlebih dahulu kebenarannya sebelum disajikan untuk pihak-pihak yang berkentingan tersebut. Pemeriksaan B9

Purpose:  This paper aims to examine the determinants of capital structure.   Theoretical framework: There is an essential gap in modern finance theory on the issue of corporate debt policy, where contemporary theory cannot explain the company’s choice of capital structure composition (Myers, 1977). Myers (1984) claimed that we have a limited understanding of capital structure. We have no idea how corporations determine whether debt, equity, or hybrid securities to issue. Furthermore, Thies & Klock (1992) claimed that capital structure is one of the most divisive topics in finance.   Design/methodology/approach: A hundred and three companies were observed 618 times, applying multiple regression to find out the determinants of capital structure in manufacturing companies in Indonesia from 2011 to 2017.   Findings: This study disclosed that five capital structure determinants (firm size, profitability, debt tax shield, growth, and liquidity) significantly affected capital structure. Firm size, debt tax shield, and growth positively correlated with capital structure, while profitability and liquidity negatively correlated with capital structure. Firm size was inequivalent with expectations, indicating that managers take advantage of firm size to increase their debt. Likewise, growth was not analogous with expectations, indicating that the company was taking advantage of its growth opportunities to increase debt. On the other hand, profitability, debt tax shield, and liquidity had the desired direction of the relationship. Furthermore, the other two variables, firm age and business risk, had no significant effect on capital structure, alluding that they were improper variables to explain variations in the sample companies’ capital structure.   Research, Practical & Social implications: The study focused on manufacturing companies listed on the Indonesia Stock Exchange, consisting of various industrial sectors and sub-sectors or heterogeneous. Thus, recruiting homogenous samples is recommended to generalize Indonesians’ sub-sector companies. In addition, the findings suggested that the management needed to pay attention to firm size, profitability, debt tax shield, growth, and liquidity to determine the composition of its capital structure.   Originality/value: Manufacturing companies listed on the Indonesia Stock Exchange were recruited as the sample of the study. However, the controversies and inconsistencies of the results are still debatable.

This study intends to test of: first, the effect of earnings, residual income, economic value added, and Operation Cash Flow simultaneously on returns received by shareholders manufacturing companies listed on the Indonesia Stock Exchange and second the effect of earnings, residual income, economic value added, and Operation Cash Flow partially on returns received by shareholders manufacturing companies listed on the Indonesia Stock Exchange. This study uses linear regression to see the contribution of each independent variable in influencing stock returns. The population in this study are all manufacturing companies listed on the Indonesia Stock Exchange (BEI) in 2008-2011. Being sampled in this study was determined using purposive sampling method. With purposive sampling method found 40 companies that meet the criteria and deserves to be sampled. Based on the analysis it can be concluded simultaneously Earnings, Economic Value Added, Residual Income and Cash Flow Operation significant effect on the return. In partially, only Earnings and Cash Flow Operation significant effect on the return.

One of the essential aspects of corporate policy is the decision on dividend payments as this dividend policy affects the value of the company. This study aims to determine whether there is a possible association between dividend policy, ownership structure, and corporate governance of Indonesian financial firms. This study offers empirical evidence on the relationship between variables in the context of Indonesia, which is a frontier market. The sample includes financial firms listed on the Indonesia stock exchange during the period between 2011 and 2017. Data analysis techniques were performed by using ordinary least square regression. Based on the result of 242 observed data analyses, it was found that while managerial ownership has no significant but positive effect on the dividend payout ratio, institutional ownership has significant and negative effects on dividend policy for sample firms. This positive relationship reflects that increasing the percentage of managerial ownership at one particular point, will make managers think that there is no longer any benefit in increasing dividend payout. Moreover, the total number of directors has a significant negative effect on dividend payout and the percentages of an independent members of directors have a positive but not significant effect on dividend policy. This result reflects that the independent board has an essential role in directing management to protect stakeholders' interest in the company. The study also reclaimed that dividend policy is positively and significantly influenced by profitability but inversely proportional to capital structure.

The purpose of this study is to examine the effect of Return on Assets (ROA)