Dampak Internet Financial Reporting dan Kualitas Laba pada Peningkatan Nilai Perusahaan

Abstract

Firm value is a perception of the condition of the company which is usually associated with stock prices, the higher the stock price, the higher the company value. This study aims to determine a) the effect of internet financial reporting as measured using the disclosure index; and b) earnings quality as measured by the proportion of operating cash flow to net income; on firm value as measured using Tobin's Q. And firm size is used as a control variable. The research population is the manufacturing sector listed on the Indonesia Stock Exchange for the 2017-2020 period. Total population of 225 companies, and based on predetermined criteria 58 companies were selected as samples. Data analysis used multiple linear regression analysis and the type of data used was secondary taken from the company's annual report. The research findings are a) internet financial reporting (IFR) has no effect on firm value; b) earnings quality has no effect on firm value. Although various literatures acknowledge that IFR and earnings quality are part of important factors, these findings indicate that IFR and earnings quality are not able to explain their effect on firm value. Next, c) the control variable firm size (SIZE) has a positive effect on firm value. This finding contradicts the signal theory which states that good information regarding company performance, both financial and non-financial, can provide a positive signal to interested parties.

Peran Kualitas Laba Terhadap Nilai Perusahaan: Komisaris Independen dan Kualitas Audit sebagai Variabel Pemoderasi

“…Permintaan dan penawaran pasar saham menentukan harga saham yang mengindikasikan nilai suatu perusahaan, yang mencerminkan persepsi masyarakat terhadap kinerja perusahaan (Lumoly et al 2018). Naiknya nilai suatu perusahaan tentu menarik minat investor dikarenakan dapat meningkatkan kesejahteraan pemegang saham (Susilawati et al 2022). Kesimpulannya bahwa penilaian perusahaan didasarkan pada pandangan investor tentang entitas perusahaan, berkaitan dengan harga saham yang berlaku di pasar saham.…”

“…Laba memiliki kualitas tinggi, terutama earnings yang dilaporkan sehingga dapat dipakai oleh pengguna untuk menerangkan harga suatu saham dan membentuk keputusan yang terbaik. Teori keagenan menjadi pengaruh terhadap informasi kualitas laba sehingga dapat diterapkan investor untuk penilaian perusahaan dan percaya kepada manajemen (Susilawati et al 2022). Sejauh mana surplus perusahaan dapat mempengaruhi pengambilan keputusan sehingga informasinya disediakan bagi publik.…”