scholarly journals The effect of risk disclosure on the cost of equity capital and firm value (An empirical study of manufacturing companies listed on the Indonesia Stock Exchange period 2015-2017)

2019 ◽  
Vol 9 (2) ◽  
pp. 133
Author(s):  
Eka Sri Sumardani ◽  
Rr Sri Handayani
Keyword(s):  
Firm Value ◽  
Stock Exchange ◽  
Equity Capital ◽  
Manufacturing Companies ◽  
Cost Of Equity Capital ◽  
Risk Disclosure ◽  
Cost Of Equity ◽  
Net Profit ◽  
The Cost ◽  
Corporate Risk

This study examines the effect of corporate risk disclosure on cost of equity capital and firm value. It uses the ratio of market value to book value, the ratio of leverage, consumer price index, growth, firm size, independent audit committee, and net profit during the study period and net profit in the previous year as control variables. The population consists of all manufacturing companies listed on the Indonesia Stock Exchange for the period 2015 - 2017. The sample was taken using a purposive sampling method, with the total sample of 99 companies. The data were analyzed using multiple regression analysis to test the hypothesis. The results indicate that corporate risk disclosure has a negative effect on the cost of equity capital but corporate risk disclosure has a positive effect on firm value.

PENGARUH KEPEMILIKAN INSTITUSIONAL, KEPEMILIKAN MANAJERIAL TERHADAP NILAI PERUSAHAAN DAN DAMPAKNYA TERHADAP COST OF EQUITY CAPITAL. (Studi Pada Emiten Manufaktur Di Bursa Efek Indonesia)

2014 ◽  
Vol 1 (2) ◽  
Author(s):  
Elviza
Keyword(s):  
Path Analysis ◽  
Firm Value ◽  
Stock Exchange ◽  
Institutional Ownership ◽  
Equity Capital ◽  
Managerial Ownership ◽  
Manufacturing Companies ◽  
Cost Of Equity Capital ◽  
Cost Of Equity ◽  
The Cost

              The purpose of this study was to examine and analyze the influence of institutional ownership and managerial ownership on firm value and its impact on the cost of equity capital either partially or simultaneously at the Stock Exchange listed companies manufacturing in Indonesia. This type of research is verification research with census method.The population of this study is that all manufacturing companies in Indonesia Stock Exchange that owns shares of managerial and institutional. Having selected the target population totaled 59 issuers. The analytical method used was path analysis (path analysis). Data used in this research is secondary data, obtained from audited financial statements for the fiscal year ended December 31, 2005 and as of December 31, 2008, and the stock price data during the observation period, issued by manufacturing companies and published by the Reference Center Capital Markets (PRPM) found on the Indonesian Stock Exchange (BEI).The results of this study indicate that, (1) institutional ownership and managerial ownership simultaneously affect firm value, (2) institutional ownership, managerial ownership and firm value simultaneously affect the cost of equity capital (3) Institutional Ownership partially give effect weak value of the firm (4) Managerial ownership partially provide a weak effect on the value of the firm (5) Institutional Ownership partially affect the cost of equity capital (6) Managerial ownership partially affect the cost of equity capital (7) value company partially affect the cost of equity capital. Keywords: institutional ownership, managerial ownership, corporate value and   cost of equity capital.

scholarly journals PENGARUH ASIMETRI INFORMASI DAN MANAJEMEN LABATERHADAP BIAYA MODAL EKUITAS PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA (BEI) TAHUN 2013-2015

2018 ◽  
Vol 6 (1) ◽  
Author(s):  
Yudi Partama Putra
Keyword(s):  
Earnings Management ◽  
Information Asymmetry ◽  
Stock Exchange ◽  
Equity Capital ◽  
Manufacturing Companies ◽  
Cost Of Equity Capital ◽  
Cost Of Equity ◽  
Capital Costs ◽  
The Cost ◽  
Variable Information

Yudi Partama Putra; This study aims to (1) determine the effect of asymmetry of information on costs of equity at manufacturing companies listed in Indonesia Stock Exchange period 2013-2015, (2) know the effect of earnings management on equity capital costs at manufacturing companies listed on the Stock Exchange in 2013- 2015, (3) determine the effect of information asymmetry and earnings management simultaneously on the cost of equity capital in manufacturing companies listed on the Indonesian Stock Exchange 2013-2015. The population in this study is manufacturing company listed on the Indonesia Stock Exchange. While the sample selection is taken by using purposive sampling method. The classical assumption test used in this research is using normality test, multicollinearity test, heteroscedasticity test, and autocorrelation test. Analysis of data used to test the hypothesis is multiple linear regression analysis techniques. Based on the results of the research indicate that (1) information asymmetry has positive and significant effect to cost of equity (2) earnings management has no significant effect on Cost of equity. F test results show that the variable information asymmetry and earnings management simultaneously affect the cost of equity capital. The result of determination coefficient test with R square shows that variable information asymmetry and earnings management influence cost equity capital equal 10,7%, while the rest 89,3% influenced by other variables.Key Words: Information Asymetry, Earnings Management, and Cost Of Equity.

scholarly journals DOES ECO-EFFICENCY REDUCE THE COST OF EQUITY CAPITAL? EMPIRICAL EVIDENCE FROM INDONESIA

2016 ◽  
Vol 29 (3) ◽  
Author(s):  
Lisa Alviani ◽  
Mahfud Sholihin
Keyword(s):  
Stock Exchange ◽  
Environmental Accounting ◽  
Equity Capital ◽  
Iso 14001 ◽  
Company Size ◽  
Manufacturing Companies ◽  
Cost Of Equity Capital ◽  
Cost Of Equity ◽  
Book To Market Ratio ◽  
The Cost

The objective of this study is to examine the effect of eco-efficiency on the cost of equity capital. The study hypothesizes that the implementation of eco-efficiency reduces the cost of equity capital. Using manufacturing companies listed on the Indonesian Stock Exchange for the period 2010-2012 as data, and controlling for beta, company size, Book to Market ratio, and leverage; the study finds that the implementation of eco-efficiency may reduce the cost of equity capital. The findings suggest that companies should implement ecoefficency.Keywords: cost of equity capital; eco-efficiency; ISO 14001; environmental accounting

scholarly journals Pengaruh Siklus Hidup Perusahaan Dalam Memoderasi Hubungan Manajemen Laba Dan Cost Of Equity Capital

2019 ◽  
Vol 1 (3) ◽  
pp. 1013-1032
Author(s):  
Indri Adelina Rizal ◽  
Nurzi Sebrina
Keyword(s):  
Life Cycle ◽  
Earnings Management ◽  
Stock Exchange ◽  
Linear Regression Analysis ◽  
Equity Capital ◽  
Manufacturing Companies ◽  
Cost Of Equity Capital ◽  
Cost Of Equity ◽  
The Cost ◽  
The Relationship

This study aims to provide empirical evidence whether earnings management can influence the cost of equity capital and whether the company's life cycle can strengthen or weaken the relationship between earnings management and the cost of equity capital. Profit Management in this study was measured using a discretionary accrual proxy. The company's life cycle is measured using the company's cash flow pattern and the cost of equity capital measured using measurements from Ohlson's (1995) model modified by Utami (2005). This study is classified as causative research. The population in this study are manufacturing companies listed on the Indonesian Stock Exchange period of 2013 to 2017.By using purposive sampling method, there were 60 companies as the research’s sample. The type of data used is secondary data obtained from www.idx.co.id. The analysis used in this study is multiple linear regression analysis. The results of this study are that earnings management has no significant positive effect on the cost of equity capital and the company's life cycle is not able to strengthen or weaken the relationship of earnings management with the cost of equity capital.

scholarly journals LUAS PENGUNGKAPAN SUKARELA, ASIMETRI INFORMASI,DAN BIAYA MODAL EKUITAS

2017 ◽  
Vol 27 (1) ◽  
pp. 59
Author(s):  
Novita Adeliana Darma
Keyword(s):  
Information Asymmetry ◽  
Voluntary Disclosure ◽  
Stock Exchange ◽  
Equity Capital ◽  
Manufacturing Companies ◽  
Cost Of Equity Capital ◽  
Cost Of Equity ◽  
Analysis Model ◽  
The Cost ◽  
Path Analysis Model

This study examines the effect of voluntary disclosure on the cost of equity capita lwith information asymmetry as an intervening variablein manufacturing companies listed in Indonesia Stock Exchange in the period of 2008-2012. The total population of this study were 203 companies. The research hypotheses were tested using path analysis model with unbalanced panel data. The study concluded that the voluntary disclosure had indirect effect on the cost of equity capital by the information asymmetry as an intervening variable.Keywords: Voluntary Disclosure, InformationAsymmetry, Cost Of EquityCapital

scholarly journals Pengaruh Konservatisme Akuntansi Terhadap Biaya Ekuitas Dan Peran Komite Audit Sebagai Moderasi

2020 ◽  
Vol 2 (2) ◽  
pp. 2659-2672
Author(s):  
Olvie Andellsi ◽  
Mayar Afriyenty
Keyword(s):  
Audit Committee ◽  
Stock Exchange ◽  
Total Sample ◽  
Equity Capital ◽  
Accounting Conservatism ◽  
Manufacturing Companies ◽  
Cost Of Equity Capital ◽  
Cost Of Equity ◽  
The Cost

This study was conducted to examine the effect of accounting conservatism on cost of equity capital and the role of the audit committee as moderation. This research is a type of causal associative research with quantitative approach. The population in this study are manufacturing companies listed on the Indonesia Stock Exchange (IDX) in 2014-2018. Samples were selected using a purposive sampling method with a total sample of 280 samples. Cost of equity capital is measured using the Ohlson (1995) model. Accounting conservatism is measured by the Givoly and Hayn (2000) model. The role of the audit committee is measured through the experience and capabilities possessed in the field of accounting and finance. The results showed that accounting conservatism had a significant negative effect on the cost of equity capital. In addition, the role of the audit committee is able to moderate the relationship between accounting conservatism and the cost of equity capital. For further research is expected to expand the object and year of research because in this study only examined manufacturing companies for the 2014-2018 observation year. In addition, further research can look for other independent variables if you want to do the same research.

scholarly journals Pengaruh Kualitas Laba Dan Pengungkapan Sukarela Terhadap Cost of Equity Capital

2019 ◽  
Vol 1 (3) ◽  
pp. 883-905
Author(s):  
Novia Yolanda ◽  
Erly Mulyani
Keyword(s):  
Voluntary Disclosure ◽  
Stock Exchange ◽  
Earnings Quality ◽  
Equity Capital ◽  
Manufacturing Companies ◽  
Cost Of Equity Capital ◽  
Cost Of Equity ◽  
Panel Data Regression ◽  
The Cost ◽  
Positive Effect

This study aims to determine and analyze the effect of earnings quality and voluntary disclosure on cost of equity capitalin manufacturing companies listed on the Indonesia Stock Exchange for the period 2015-2017 both simultaneously and partially. The data analysis method used is panel data regression analysis. Using a purposive sampling method to get a sample of 71 companies from 213 manufacturing companies. Based on the results of the study it is known that the expertise of earnings quality and voluntary disclosure simultaneously influence the cost of equity capital. But partially, earnings quality has a positive effect on the cost of equity capitaland voluntary disclosure has a positive effect on the cost of equity capitalin manufacturing companies listed on the Indonesia Stock Exchange for the period 2015-2017

scholarly journals The Effect of Information Asymmetry and Business Diversification on Cost of Equity Capital

2021 ◽  
Vol 5 (1) ◽  
pp. 104-112
Author(s):  
Nurul Intan Okci Pratiwi
Keyword(s):  
Information Asymmetry ◽  
Positive Impact ◽  
Stock Exchange ◽  
Linear Regression Analysis ◽  
Secondary Data ◽  
Equity Capital ◽  
Cost Of Equity Capital ◽  
Cost Of Equity ◽  
Quantitative Research Methods ◽  
The Cost

This study aims to examine the effect of information asymmetry and business diversification on the cost of equity capital in mining companies listed in the Indonesia Stock Exchange with a sample of 14 companies for the 2017-2019 period. Data analysis used descriptive research with quantitative research methods in the form of secondary data. Information asymmetry is measured using the bid-ask spread and diversification is measured using the Herfindahl Index proxy while the cost of equity capital is measured using the Ohlson model. Hypothesis testing is carried out using multiple linear regression analysis to see how much influence information asymmetry and diversification have on the cost of equity capital. The result indicated that information asymmetry had a positive impact on the cost of equity capital and business diversification had a positive impact on the cost of equity capital.

The Cost of Equity Capital in Stock Portfolios Listed on the Warsaw Stock Exchange Using the Classic CAPM

e-Finanse ◽  
2019 ◽  
Vol 15 (2) ◽  
pp. 48-62
Author(s):  
Stanisław Urbański
Keyword(s):  
Real Options ◽  
Stock Returns ◽  
Cost Of Capital ◽  
Stock Exchange ◽  
Bootstrap Method ◽  
Equity Capital ◽  
Cost Of Equity Capital ◽  
Cost Of Equity ◽  
Warsaw Stock Exchange ◽  
The Cost

AbstractThis work is an attempt to estimate the cost of equity capital characteristic among portfolios of companies listed on the Warsaw Stock Exchange in the years 1995-2017. To this end, the classic CAPM is used to estimate the cost of risk. Model tests are based on 252 monthly returns. In order to assess the errors of cost of capital estimation, the bootstrap method is used. The estimated cost of capital refers to the project portfolio with real options on these projects. Stock returns are generated not only by the companies implementing projects but also through real options modifying these projects. The estimated cost of capital can be a valuable indicator for portfolio managers. Also, it can be an approximate indicator for making decisions on the implementation of new investment projects. The estimated cost of capital assumes the highest values for value portfolios. The estimated cost of capital assumes the small values for growth portfolios.

Pengaruh Kualitas Corporate Governance Terhadap Cost Of Equity Perusahaan Manufaktur Di Indonesia

2018 ◽  
Vol 13 (1) ◽  
Author(s):  
Fiki Kartika
Keyword(s):  
Corporate Governance ◽  
Risk Premium ◽  
Manufacturing Industry ◽  
Equity Capital ◽  
Manufacturing Companies ◽  
Cost Of Equity Capital ◽  
Cost Of Equity ◽  
Ex Ante ◽  
The Cost ◽  
The Impact

This research aims to determine the impact of Good Corporate Governance (GCG) on the cost of equity for manufacturing companies in Indonesia. The sampling technique uses purposive sampling, namely companies listed on the Indonesia Stock Exchange. The analysis was carried out in the Manufacturing industry sector in 2013 - 2015. The GCG index was measured using five dimensions adopted from Black et al. (2003) and Cost of Equity is measured by the ex ante cost of equity capital using the Price Earning Growth (PEG) proxy. The reason for using ex ante cost of equity capital is ex-ante is more describing the role of investors in seeing the risk of a company. The results of this study indicate that GCG negatively affects on the cost of equity. GCG limits managerial opportunism and reduces agency conflicts between owners and agents. Therefore, shareholders are willing to accept a lower risk premium, effectively reducing equity costs.

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