Volatilitas Arus Kas, Tingkat Utang, Book Tax Differences Dan Dampaknya Terhadap Persistensi Laba

Abstract

The purpose of this research is to investigate cash flow volatile, debt level, book tax differences and its impact to earning persistence. This research using companies listed in Indonesia Stock Exchange as sample. Sample selected by purposive sampling method. Data type used in this study is quantitative data and analyzed using multiple regression analysis to analysis dependent variable, earning persistence, and independent variable, cash flow volatile, debt level and book tax differences. The result of the research revealed cash flow volatile and debt level have negative and significant effect to earning persistence because higher volatile of cash flow and higher debt level, the earning resulted less persistence. Book tax differences has no effect to earning persistence. Investors see that the differences between earning reported as accounting income and taxable income as the common process resulted by the differences of the rule in recognition of income and expenses which has no effect in earning persistence.

The Determinant Factors of Earnings Persistence

“…Signaling theory predict the company will report the information more open and natural about company earnings and conditions (Soly & Wijaya, 2018). Signaling theory states that all the earnings information that comes from the company can be a good signal for the external parties (Holly, 2019). The external parties can get the prediction about whether the company earnings are persistent.…”

“…Based on signaling theory, the information in financial statement that made by company's management will give a signal to financial statement users. The stability of cash flow is positive signal information for company's earnings persistence (Holly, 2019).…”

“…There is a negative influence between cash flow volatility on earnings persistence (Holly, 2019). It means when the cash flow volatility is high, then the earnings persistence will become low.…”

Book Tax Difference dan Volatilitas Arus Kas terhadap Persistensi Laba dengan Ukuran Perusahaan sebagai Variabel Moderasi

“…Hal ini penting bagi pihak internal maupun eksternal perusahaan karena umumnya pihak -pihak berkepentingan akan melakukan analisa guna mengetahui kondisi perusahaan. Dari segi manajemen perusahaan yang bertindak sebagai pengendali, pastinya manajemen perusahaan akan membuat kebijakan -kebijakan untuk meningkatkan kinerja dari perusahaan (Holly, 2019). Indikator kinerja instansi bisa ditinjau berdasarkan keuntungan yang diperoleh berulang-ulang dalam jangka panjang atau disebut dengan istilah Persistensi Laba.…”

“…TINJAUAN PUSTAKA DAN PERUMUSAN HIPOTESIS Teori Keagenan Teori keagenan dikemukakan oleh Jensen dan Meckling, (1976) menyatakan bahwa pemegang saham (principal) memberikan kewenangan kepada manajemen (agent) untuk mengelola perusahaannya untuk kepentingan yang berbeda dengan pemilik sehingga menimbulkan masalah keagenan (agency problem). Selain itu, teori keagenan ini dapat menjelaskan pengguna insentif manajemen yang berguna untuk meningkatkan laba perusahaan (Holly, 2019).Penelitian ini terkait dengan teori keagenan karena variabel persistensi laba merupakan salah satu unsur kualitas laba (Khasanah & Jasman, 2019). Dengan demikian, semakin tinggi persistensi laba maka semakin investor mampu menggunakan informasi laba untuk memprediksi laba tahun yang akan datang sehingga semakin mengurangi masalah keagenan.…”