Pengaruh Modal Intelektual Dan Manajemen Laba Riil Terhadap Future Stock Return
Keywords:
Intellectual Capital, Real Earnings Management, Future Stock ReturnAbstract
In assessing the ability and performance of a company before making investment decisions, investors need information on future stock returns. One of the disclosures that is useful in assessing the returns obtained by investors is earnings information and company intellectual disclosures. However, in reality the disclosure of intellectual capital in Indonesia is still low even though it has been stipulated in PSAK No. 19 (Revised 2010). This is due to the low awareness of Indonesian companies on the importance of intellectual capital in creating and maintaining competitive advantage. This research to examine the effect of Intellectual Capital and Real Earnings Management on Future Stock Returns. The population of this research is 182 manufacturing companies listed on the Indonesia Stock Exchange during the 2017-2019 period. Based on the purposive sampling method, the total of research sample is
44 companies. Hypothesis testing used in the research used multiple linear regression analysis with the help of SPSS software version 25.The results showed that Intellectual Capital has an effect on Future
Stock Return with the significance level of intellectual capital 0.048, (2) Real Earnings Management has
an effect on Future Stock Return with the significance level value of real earnings management 0.011.
References
Abidin, Sawarjuwono dan Kadir (2003).“Intellectual Capital Disclosure
Commitment : Myth or Reality?”, Journal of Intellectual Capital, Vol.
, No. 1, hal. 39-56
Daat, S. C. (2019). Pengaruh Pengungkapan Relational Capital Pada Kinerja Keuangan Perusahaan (Studi Empiris Pada Perusahaan High-Ic Intensive Industries Yang Terdaftar Di Bursa Efek Indonesia). Nominal: Barometer Riset Akuntansi Dan Manajemen, Vol. 8, No. 2, hal. 256-271.
Dhawan.Rajeev.2001. Firm Size And Productivit : from a panel of US Firms.
Journal of Economic Behavior and Organization. 44, 269-293.
Djamil, A. B., Razafindrambinina, D., & Tandeans, C. (2013). The Impact of Intellectual Capital on a Firm’s Stock Return: Evidence from Indonesia. Journal of Business Studies Quarterly, Vol. 5, No.2, hal. 177-183.
Fahmi, M., & Prayoga, M. D. (2018). Pengaruh Manajemen Laba terhadap Nilai Perusahaan dengan Tax Avoidance sebagai Variabel Mediating. Jurnal Pendidikan Akuntansi, Vol. 1, No.3, hal. 225-238
Fajryamantika,S. (2018). Pengaruh Intellectual Capital, Kualitas Audit, Manajemen Laba, Dan Return Saham Terhadap Future Stock Return. Jurnal Ekonomi dan Keuangan, Vol. 20, No.2, hal. 12-21
Ferdiansyah dan Purnamasari, D. 2012. Pengaruh Manajemen Laba Terhadap Return Saham dengan Kecerdasan Investor sebagai Variabel Moderating. Jurnal Sains Manajemen & Akuntansi. Vol. 6, No. 2, hal.15-37
Graham, J.R., C.R. Harvey, and S. Rajgapol.2005. The Economics Implications of Corporate Financial Reporting. Journal of Accounting Economic. Vol. 40, No.1-3, hal. 3-73.
Miller, J. C., dan R. H. Whiting. 2005. Voluntary disclosure of intellectual capital and the ‘hidden value’. In AFAANZ Conference, Melbourne.
Purnomosidhi, B. 2006. Praktik Pengungkapan Modal Intelektual pada Perusahaan Publik di BEJ. Jurnal Riset Akuntansi Indonesia. Vol. 9, No.1, hal.65-72
Roychowdhury,S.2006.Earnings management through real activities manipulation. Journal of Accounting and Economics. Vol.42, No.3, hal
-370
Soputra, A. A., & Atmadja, A. S. (2017). Pengaruh Intellectual Capital terhadap Stock Return dengan Mediasi Return On Assets. Business Accounting. Vol. 5, No.2. hal. 15-22.
Suhardjanto, D., & Wardhani, M. (2010). Praktik Intellectual Capital
Disclosure Perusahaan. Jaai. Vol. 4, No.1, hal.45-57.
Uswati, L., & Mayangsari, S. (2012). Pengaruh Manajemen Laba Terhadap Future Stock Return Dengan Asimetri Informasi Sebagai Variabel Moderating. Jurnal Ekonomi Dan Keuangan. Vol. 20, No.2, hal. 242-
Utami, W. (2005). Pengaruh Manajemen Laba Terhadap Biaya Modal Ekuitas (Studi Pada Perusahaan Publik Sektor Manufaktur). Simposium Nasional Akuntansi VIII.
Wato, T. (2016). Pengaruh Modal Intelektual Terhadap Manajemen Laba Riil Dan Future Stock Returns. Media Riset Akuntansi, Auditing Dan Informasi. Vol.16, No.2, hal. 25-44
Williams, S.M. 2001. Is Intellectual Capital Performance and Disclosure
Practise Related? Journal of Intellectual Capital, Vol. 2, No. 3, hal.
-203.
WIPO. (2017). WIPO indicators 2017. In World Intellectual Property Organization Economics and Statistics Series Economics and Statistics Series.
