The Influence of Accounting Conservatism, Ownership Concentration, and Debt Maturity on Investment Efficiency

Abstract

This study aims to examine the influence of accounting conservatism, ownership concentration, and debt maturity on investment efficiency. This research uses quantitative methods with multiple linear regression models using the SPSS program. The data used in this study are the annual financial statements of companies on the Indonesia Stock Exchange. The population in this study were 122 non-classical consumer companies listed on the Indonesia Stock Exchange. After purposive sampling, the final sample consisted of 42 companies so that the total sample was 126 data. The results of multiple linear regression testing show support for the hypotheses of this study: (1) accounting conservatism has a significant effect on investment efficiency, (2) ownership concentration has a significant effect on investment efficiency, and (3) debt maturity has no effect on investment efficiency. In conclusion, these findings highlight the importance of accounting conservatism and ownership concentration in influencing investment efficiency. However, debt maturity does not appear to have a significant impact on investment efficiency. These insights can guide policymakers and practitioners in making informed decisions to enhance investment practices and optimize resource allocation.