Hubungan Antara Pengungkapan, Informasi Asimetri Dan Biaya Modal

Abstract

<table class="NormalTable"><tbody><tr><td width="550"><span class="fontstyle0">This study intends to investigate the relationship between disclosure, asymmetry<br />information and cost of capital. The samples of this study cover about 40 manufacturer companies listed at the Jakarta Stock Exchange in 2004 that selected using purposive random sampling. The analysis method used to test is simple regression, Kolmogorov-Smirnov and P-Plot. The study result were as follows, first hypothesis show there is no relationship between disclosure and asymmetry information. Second hypothesis result show that there is a positive relationship between asymmetry information and cost of capital. Third hypothesis, there is a relationship between disclosure and cost of capital.</span></td></tr></tbody></table>

Pengaruh Audit Tenure, Auditor Spesialis Dan Pengungkapan Sukarela Terhadap Asimetri Informasi Dengan Komite Audit Sebagai Variabel Moderasi

“…Dengan demikian hipotesis pertama (H3) ditolak, artinya pengungkapan sukarela tidak berpengaruh terhadap asimetri informasi. Hasil penelitian ini konsisten dengan penelitian Nuryatmo (2007), Yenibra (2014) yang menyatakan bahwa pengungkapan sukarela tidak berpengaruh terhadap kepercayaan investor atas laporan keuangan. Penelitian ini tidak konsisten dengan penelitian Mardiyah (2002), Murni (2004) dan Benardi (2009).…”

Does Intellectual Capital Disclosure Enhance Organization Governance? Evidence from Indonesian Biggest Organizations

“…Information asymmetry is a condition where a party has information that is known by no other parties that certain consequences will only be known by one party without the knowledge of others who actually also need the information (Nuryatno, Nazir, and Rahmayanti 2007). The information gap between the company and users of financial statement can be bridged by the expansion of public disclosure of information and specific information about the company.…”

“…Voluntary disclosure is a disclosure outside of required disclosures or information disclosure which beyond the minimum requirements of the prevailing capital market regulations (Nuryatno, Nazir, and Rahmayanti 2007;Nuswandari 2009). The theory which underlines the voluntary disclosure is signaling theory (Suwardjono 2006).…”

“…Where there is a great uncertainty about the "real" parameter when the information received by the investors is low (Diamond and Verrecchia 1991;Botosan 1997). Nuryatno, Nazir, and Rahmayanti (2007) and Diamond and Verrecchia (1991) statet that the voluntary disclosure can reduce information asymmetry occurs between the informed investors and those less informed. The decreasing of asymmetry can reduce bid-ask spread and increase the stock liquidity which are characterized by the high trading volume and the high demand for the company's stock from big investors.…”

Cost Of Capital, Corporate Tax Plannings, And Corporate Social Responsibility Disclosure

“…Research on the determinants of the cost of capital, the cost of debt and equity, generally involves variables that describe management policies, such as earnings management (Atmaja, 2020;Febrininta and Siregar, 2014;Febriyanto and Firmansyah, 2018;Kim and Charlie, 2013), asymmetric information (Nuryatno et al, 2019), corporate social responsibility disclosure (Firmansyah et al, 2021;Suto and Takehara, 2017;Yeh et al, 2020), corporate governance (AlHares, 2020;Firmansyah et al, 2021), tax avoidance (Chun et al, 2019;Febriyanto and Firmansyah, 2018;Goh et al, 2016;Kovermann, 2018;Shin and Woo, 2018;Sikes and Verrecchia, 2020;Wardani et al, 2019), tax risk (Hutchens & Rego, 2017;Kovermann, 2018). In addition, the determinants of the cost of capital can be seen from the company's external perspective, such as vulnerability to climate change which increases financial constraints (Kling et al, 2021).…”