scholarly journals FAKTOR–FAKTOR YANG MEMPENGARUHI SENSITIVITAS LABA PADA INDUSTRI BARANG KONSUMSI DI INDONESIA

2014 ◽  
Vol 2 (2) ◽  
Author(s):  
Candra Romanda
Keyword(s):  
Life Cycle ◽  
Default Risk ◽  
Financial Statements ◽  
Dividend Payout ◽  
Earnings Response Coefficients ◽  
Earnings Growth ◽  
Earnings Response Coefficient ◽  
Response Coefficient ◽  
Earnings Response ◽  
Corporate Life Cycle

Candra Romanda, S.E., M.SiSTIE Rahmaniyah SekayuE-mail: [email protected] purpose of this study was to analyze the influence of conservative financial statements, thecompany’s life cycle, earnings growth, dividend payout ratio, default risk and size of the company’searnings response coefficients in the Consumer Goods Industry in Indonesia. The populationsare 32 consumption industrial enterprises which are listed in Indonesia Stock Exchange 2007 –2010. Respondent are 20 companies which were chosen by using purposive sampling. To knowwhether simultaneously the independent variables affect to earnings response coefficient usedthe F test and individually the t test. The results shown by the first model that conservatism didnot affect the financial statements of earnings response coefficients. In addition, there were nosignificant differences in market response to the tendency of financial reporting either a conservativeor optimistic. The company’s life cycle has positive and significant impact on earningsresponse coefficients and earnings response coefficients are the differences between the categoriesof corporate life cycle. Earnings growth has positive and significant impact on earningsresponse coefficients. Dividend payout ratio has no effect on earnings response coefficients,Default risk has no effect on earnings response coefficients, and company size has no effect onearnings response coefficients.Keywords: Earnings response coefficient, Financial Conservatism, Corporate Life Cycle, IncomeGrowth, Dividend Payout Ratio, Size of the Company, Default Risk.

Revisiting the Relation between the Default Risk of Debt and the Earnings Response Coefficient

1999 ◽  
Vol 74 (4) ◽  
pp. 509-522 ◽  
Author(s):  
Bruce K. Billings
Keyword(s):  
Default Risk ◽  
Bond Ratings ◽  
Earnings Response Coefficients ◽  
Negatively Associated ◽  
Earnings Growth ◽  
Earnings Response Coefficient ◽  
Equity Risk ◽  
Earnings Response ◽  
Two Measures ◽  
Expected Earnings

Theory suggests that earnings response coefficients (ERCs) are positively associated with expected earnings growth and negatively associated with equity risk. Dhaliwal and Reynolds (1994) (DR) hypothesize that equity beta fails to capture a default risk component of equity risk and demonstrate that ERCs are negatively associated with two measures of default risk—bond ratings and debt/equity ratios—in a regression model that contains equity beta. Bond ratings and debt/equity ratios are associated with expected earnings growth. This paper examines how the association between ERCs and default risk is impacted by the inclusion of expected earnings growth in the model. The relation between ERCs and bond ratings is not significant, while the association between ERCs and debt/equity ratios is weakened but is still significant. These findings suggest part of the reason for the negative association between ERCs and default risk in DR is that their default risk proxies also reflect expected earnings growth. In fact, there is no incremental association between ERCs and default risk when equity beta, bond ratings, and expected earnings growth are in the model.

scholarly journals PRINCIPLES OF PRUDENTIAL IN IFRS FINANCIAL STATEMENTS AND ITS EFFECT ON EARNINGS RESPONSE COEFFICIENT AND PROFIT MANAGEMENT

2017 ◽  
Vol 16 (2) ◽  
Author(s):  
Arna Suryani ◽  
Eva Herianti
Keyword(s):  
Earnings Management ◽  
Precautionary Principle ◽  
Financial Statements ◽  
Significant Positive Effect ◽  
Earnings Response Coefficients ◽  
Earnings Response Coefficient ◽  
Response Coefficient ◽  
Earnings Response ◽  
Positive Effect

<p>The purpose of this study is to determine the effect of prudential principle of financial statements in IFRS on earnings response coefficients and profit management of manufakturing companies. This study uses analytical methods Partial Least Square (PLS) through analisys software called Smart PLS 2.0 M3. The object of this research is manufacturing companies in Indonesia with a total of 57 analysis unit manufacturing company during the period from 2013 to 2015.</p><p>Based on the results of the study, it is obtained the following findings: the precautionary of financial principle is proven to have a significant positive effect on the earnings response coefficient. The prudential financial principle is proven to have significant harmful impact on earnings.Manajemen is proved to have significant positive effect on banking principles prudential reports. Then, precautionary principle financial statements have greater direct influence on earnings response coefficients.</p><p>This study has implications both theoretically and manajerial. The theoretical implication, the study makes an important contribution in the development of the theory of the precautionary principle financial statements, earnings response coefficients and earnings management. Managerial implications, this research has implications for users of financial statements in taking decision that is not only based on accounting figures, but also need to look at the quality of earnings presented. The precautionary principle financial statements required to reduce opportunistic earnings management so as to improve the quality of earnings and designated by increased earnings response coefficients.<br /> <br /> <strong>Keywords</strong>: Principle of Prudence, Financial Statement, Earnings Response Coefficient, Profit Management</p>

scholarly journals Analisis Pengaruh Beta, Leverage, Dividend Payout Ratio, dan Earnings Persistence terhadap Earnings Response Coefficient pada Indeks Kompas 100

2014 ◽  
Vol 1 (02) ◽  
pp. 121-135
Author(s):  
Dwi Husiano ◽  
Suratno Suratno
Keyword(s):  
Stock Prices ◽  
Systematic Risk ◽  
Jel Classification ◽  
Earnings Persistence ◽  
Growth Opportunities ◽  
Dividend Payout ◽  
Earnings Response Coefficient ◽  
Response Coefficient ◽  
Earnings Response ◽  
The Relationship

ABSTRACT Earnings response coefficient (ERC) reflects the strength of the relationship between income with stock prices. This study aimed to analyze the determinants of the ERC. The population was 100 companies included in the Kompas 100 Index. Tests carried out by multiple regression test. The results show that the leverage, dividend payout ratio affects the ERC, while systematic risk and growth opportunities not significant effect on the ERC. The results are expected to contribute to the issuer, that the consideration of investors to invest in the stock market especially Kompas 100 Index shown to be affected by the level of risk and ividend payout ratio. ABSTRAK Earnings response coefficient (ERC) mencerminkan kekuatan hubungan antara laba dengan harga saham. Penelitian ini bertujuan untuk menganalisis faktor-faktor penentu ERC. Populasi adalah 100 perusahaan yang masuk dalam Indeks Kompas 100. Pengujian dilakukan dengan uji regresi berganda. Hasil pengujian menunjukkan bahwa leverage, dividend payout ratio berpengaruh terhadap ERC, sementara systematic risk dan growth opportunities berpengaruh tidak signifikan terhadap ERC. Hasil penelitian diharapkan yang dapat memberikan kontribusi kepada emiten, bahwa pertimbangan investor untuk berinvestasi di pasar modal khususnya saham yang Indeks Kompas 100 terbukti dipengaruhi oleh tingkat resiko dan rasio pembayaran deviden. JEL Classification: G14, G30

scholarly journals PENGARUH STRUKTUR MODAL, UKURAN PERUSAHAAN, DAN KEBIJAKAN DIVIDEN TERHADAP KOEFISIEN RESPON LABA

ETIKONOMI ◽  
2015 ◽  
Vol 13 (2) ◽  
Author(s):  
Nana Novianti
Keyword(s):  
Regression Analysis ◽  
Data Analysis ◽  
Capital Structure ◽  
Firm Size ◽  
Dividend Policy ◽  
Accounting Conservatism ◽  
Earnings Response Coefficients ◽  
Earnings Response Coefficient ◽  
Response Coefficient ◽  
Earnings Response

The aim of this research is to empirically examine the influence of the capital structure, firm size and dividend policy of the earnings response coefficients and the influence of conservatism accounting as moderation variable. Techniques of data analysis in this study used moderated regression Analysis. The results of this study showed that partially results of the study showed that capital structure and firm size had negatif and significant effect on earnings response coefficients, but the dividend policy had not significant effect on earnings response coefficients. Capital structure had does not affect accounting conservatism moderated the earnings response coefficient; firm size moderated accounting  conservatism and dividend policy had an affect on moderated  accounting conservatism effect on earnings response coefficientsDOI: 10.15408/etk.v13i2.1882

scholarly journals PENGARUH ALOKASI PEMBEBANAN PAJAK PENGHASILAN ANTAR PERIODE TERHADAP KOEFISIEN RESPON LABA

2009 ◽  
Vol 9 (1) ◽  
pp. 1
Author(s):  
Endang Kiswara
Keyword(s):  
Income Tax ◽  
Stock Exchange ◽  
Financial Statements ◽  
Going Public ◽  
Taxable Income ◽  
Earnings Response Coefficient ◽  
Response Coefficient ◽  
Before And After ◽  
Earnings Response ◽  
Deferred Tax

<p><em>Abstract Inter period tax allocation is noise factor of earnings content of financial statements. Earnings is important component of taxable income assessment that difference from accounting treatment. This research investigate effect of inter period tax allocation toward earnings response coefficient (ERC). Research conducted for 38 samples companies from any industries that going public at Indonesia Stock Exchange 1997 to 2004. Data is analyze by multiple regression, and t-test. Output of this research stated that ERC before and after tax allocation based on PSAK 46 are the same, at significance value 0,404. This implied that inter period tax allocation is not having impact on ERC, at significance value 0,489. This researchfound that usefulness of accounting for income tax based on PSAK 46 is not difference with the non applicant.</em></p><p><strong><em>Keywords: </em></strong><em>Earnings Response Coefficient (ERC), inter period tax allocation,</em></p><p><em>deferred tax expense, deferred income tax.</em></p>

PENGARUH CSR DISCLOSURE, KESEMPATAN BERTUMBUH DAN RISIKO KEGAGALAN PERUSAHAAN TERHADAP EARNINGS RESPONSE COEFFICIENT

Wahana ◽  
2019 ◽  
Vol 21 (2) ◽  
pp. 54-65
Author(s):  
Lely Indriaty ◽  
Della Tania
Keyword(s):  
Significant Influence ◽  
Default Risk ◽  
Linear Regression Analysis ◽  
Sample Collection ◽  
Growth Opportunities ◽  
Purposive Sampling ◽  
Earnings Response Coefficient ◽  
Response Coefficient ◽  
Earnings Response ◽  
Csr Disclosure

The aims of this research are to know the influence of CSR disclosure, growth opportunities and default risk to earnings response coefficient in the manufacturing company of pharmaceutical sub sector listed on the Indonesia Stock Exchange period 2010-2015. This research belongs to quantitative research. Sample collection technique used purposive sampling. Using purposive sampling technique, 6 companies is used as research sample. The analysis method of this research used multiple linear regression analysis. The results showed that: (1) CSR disclosure has positive and significant influence to earnings response coefficient (sig t 0.0002 < 0.05), (2) Growth opportunities has positive and significant influence to earnings response coefficient (sig t 0.0169 < 0.05), (3) Default risk has negative and significant influence to earnings response coefficient (sig t 0.0045 < 0.05). Simultaneously, CSR disclosure, growth opportunities, and default risk has significant influence to earnings response coefficient (sig f 0.000000 < 0.05).

Discussion—The Role of “Other Information” in the Valuation of Foreign Income for U.S. Multinationals

2005 ◽  
Vol 20 (4) ◽  
pp. 379-383
Author(s):  
Suresh Radhakrishnan
Keyword(s):  
Research Design ◽  
Value Relevance ◽  
Future Research ◽  
Earnings Response Coefficients ◽  
Earnings Response Coefficient ◽  
Foreign Earnings ◽  
Earnings Components ◽  
Response Coefficient ◽  
Other Information ◽  
Earnings Response

The value-relevance of earnings components is an important issue for accounting regulators because it can help them assess the benefit of mandating disclosures with respect to value-relevant earnings components (see, e.g., Barth et al. [2001]). Hope and Kang (hereafter HK) examine the value-relevance of earnings components—specifically, foreign and domestic earnings—by building on Bodnar and Weintrop (1997; hereafter BW). BW show that while both domestic and foreign earnings are value- relevant, the foreign earnings response coefficient is higher than the domestic earnings response coefficient. They also find that the foreign earnings response coefficient is higher than the domestic earnings response coefficient because of higher growth opportunities in foreign operations relative to domestic operations. The objective of HK is to provide an alternative explanation for BW's finding. Specifically, they argue that BW's result could be a statistical artifact due to the omission of an explanatory variable that is correlated with the foreign earnings in BW's research design. HK make the case for the omission of “other information” that is correlated with foreign earnings in BW's research design. They include a variable for “other information” based on analysts' future earnings forecasts in BW's research design and find that the foreign and domestic earnings response coefficients are similar in magnitude. My discussion centers, first, on certain limitations of the research design and proxy for other information employed by HK; second, I will then interpret the results in light of these limitations. For highlighting the limitations of the research design and proxies employed, I begin by providing a simple framework of stock valuation that provides insights into the drivers of earnings response coefficients. Finally, I will state my conclusions and suggest future research directions.

scholarly journals The effect of company size, company growth, earnings growth, and capital structure on earnings response coefficient

2020 ◽  
Vol 10 (1) ◽  
Author(s):  
Ratih Tri Indah Sari ◽  
Nuraini Rokhmania
Keyword(s):  
Capital Structure ◽  
Firm Growth ◽  
Sampling Technique ◽  
Company Size ◽  
Manufacturing Companies ◽  
Earnings Growth ◽  
Earnings Response Coefficient ◽  
Response Coefficient ◽  
Earnings Response ◽  
Company Growth

Profit & Loss Statement becomes a consideration for investors in making stock transactions. Earnings response coefficient shows the attitude of an investor’s transaction in profit expectancy before or after the publication of the company’s financial statement. The purpose of this study is to examine factors that affect earnings response coefficient. The object of this research is consumer goods manufacturing companies listed on the Indonesia Stock Exchange during 2013-2017. The independent variables used are company size, company growth, earnings growth, and capital structure, while the dependent variable used is earnings response coefficient. The sampling technique used in this research is purposive sampling. Data analysis is done using multiple regression analysis. The results of this study show that earnings growth has a positive effect on earnings response coefficient, but firm size, firm growth, and capital structure have no effect on earnings response coefficient.

scholarly journals Earnings Response Coefficient : CSR Disclosure, Audit Committe and Default Risk

2020 ◽  
Vol 4 (3) ◽  
pp. 414-422
Author(s):  
Miftah Kamal Nuriyanto ◽  
Annisa Nurbaiti ◽  
Wiwin Aminah
Keyword(s):  
Default Risk ◽  
Audit Committee ◽  
Sampling Technique ◽  
Observation Time ◽  
Earnings Response Coefficient ◽  
Response Coefficient ◽  
Analysis Technique ◽  
Earnings Response ◽  
Statistical Analysis Technique ◽  
Csr Disclosure

An investor needs to collect financial information as a matter of consideration in making his economic decision by using earning response coefficient. The value of ERC that appears will be goodnews when the value is raised high and will be badnews when the value of ERC is low. This research aims to test how the influence of CSR Disclosure, Audit Committee and Default Risk to Earnings Response Coefficient. The research was conducted on the basic and chemical industry sectors list on the IDX from 2015 to 2018. By using pusposive sampling technique obtained as many as 23 companies with 4 years observation time obtained amount 92 observations. Outliers performed 11 observations so that the number of observations used was 81 observations with Non-probability sampling. This research uses a descriptive statistical analysis technique and a data panel regression method. Results showed that the CSR Disclosure, Audit Committee, Default Risk simultaneously, has an influence on the earnings response coefficient. Partially, audit committee has a negative affect on the earnings response coefficient. While the CSR Disclosure and Default Risk has no affect on the earnings response coefficient.

scholarly journals PENGARUH KETEPATAN WAKTU PELAPORAN, DEFAULT RISK, DAN POLITICAL CONNECTION TERHADAP KUALITAS LABA

2020 ◽  
pp. 811
Author(s):  
Fera Anastasia Lungkang ◽  
Muhamad Muslih
Keyword(s):  
Default Risk ◽  
Political Connection ◽  
Purposive Sampling ◽  
Earnings Response Coefficient ◽  
Response Coefficient ◽  
Earnings Response

Kualitas laba merupakan gambaran laba yang tidak memiliki gangguan. Informasi laba yang berkualitas merupakan informasi yang dapat mempengaruhi keputusan investor. Kuatnya reaksi pasar yang merupakan respon investor akan tercermin pada tingginya nilai dari earnings response coefficient (ERC) yang menggambarkan kualitas laba suatu perusahaan. Tujuan dari penelitian ini yaitu untuk menguji berpengaruhnya ketepatan waktu pelaporan, default risk, dan political connection terhadap kualitas laba yang dilakukan baik secara simultan dan parsial. Metode penelitian yang digunakan adalah purposive sampling dengan perolehan data berjumlah 115 sampel dari 23 perusahaan dengan periode penelitian tahun 2014-2018. Model regresi yang digunakan dalam penelitian adalah regresi data panel. Penelitian ini memperoleh hasil bahwa ketepatan waktu pelaporan, default risk, dan political conncetion berpengaruh secara simultan terhadap kualitas laba. Political connection secara parsial berpengaruh negatif terhadap kualitas laba.

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