Pengaruh Financial Leverage, Arus Kas Bebas, Profitabilitas Dan Struktur Kepemilikan Institusional Terhadap Manajemen Laba

Penelitian ini bertujuan untuk menguji pengaruh financial leverage, arus kas bebas, profitabilitas dan struktur kepemilikan institusional terhadap manajemen laba. Sumber data penelitian ini adalah data sekunder yang berupa laporan keuangan tahunan perusahaan yang diperoleh dari website Bursa Efek Indonesia. Sampelnya adalah perusahaan makanan dan minuman yang terdaftar di Bursa Efek Indonesia (BEI) periode 2014-2019 dengan menggunakan teknik purposive sampling dan diperoleh 14 perusahaan sebagai sampel dengan 84 data amatan. Metode analisis data yang digunakan adalah analisis regresi linier berganda. Hasil penelitian ini menunjukan bahwa variabel profitabilitas berpengaruh positif terhadap manajemen laba, variabel arus kas bebas berpengaruh negatif terhadap manajemen laba. Sedangkan variabel financial leverage dan struktur kepemilikan institusional tidak memiliki pengaruh terhadap manajemen laba. This research aimed to examine the effect of financial leverage, free cash flow, profitability and institutional ownership structure on earnings management. This research's data source is secondary data in the form of company annual financial report obtained from the Indonesia Stock Exchange website. The samples are food and beverage companies listed on the Indonesia Stock Exchange during 2014-2019. The sample selection used purposive sampling technique and obtained 14 companies as samples with 84 observational data. The data analysis method used multiple linear regression analysis. This study indicates that the profitability variable has a positive effect on earnings management, the free cash flow variable has a negative effect on earnings management. While, financial leverage and institutional ownership structure variable don't affect earnings management.

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PENGARUH FREE CASH FLOW DAN FINANCIAL LEVERAGE TERHADAP MANAJEMEN LABA DENGAN GOOD CORPORATE GOVERNANCE SEBAGAI VARIABEL MODERASI

SIMAK ◽

10.35129/simak.v18i02.149 ◽

2020 ◽

Vol 18 (02) ◽

pp. 118-134

Author(s):

Jihana Safira Tualeka ◽

Tenriwaru Tenriwaru ◽

Ummu Kalsum

Keyword(s):

Corporate Governance ◽

Earnings Management ◽

Cash Flow ◽

Stock Exchange ◽

Sampling Technique ◽

Free Cash Flow ◽

Financial Leverage ◽

Purposive Sampling ◽

Good Corporate Governance

This research aimed to examine whether free cash flow and financial leverage affected profit management and whether good corporate governance as a moderating variable moderated the effect of free cash flow and financial leverage on profit management on textile and garment companies listed on the Indonesia Stock Exchange in the period 2016-2018. This study used sample of 16 companies from the textile and garment listed on the Indonesia Stock Exchange for the period of 2016-2018, and used a purposive sampling technique. Based on the results of research conduct shows that free cash flow has a negative and significant effect on earnings management. Financial leverage has a negative and not significant effect on earnings management. Good corporate governance can moderate or strengthen the influence between free cash flow and profit management. And good corporate governance can moderate or strengthen the influence between financial leverage and profit management.

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Pengaruh Struktur Kepemilikan, Free Cash Flow terhadap Kebijakan Dividen pada Perusahaan Asuransi yang Terdaftar di BEI Tahun 2013-2017

Jurnal Ekonomi Akuntansi dan Manajemen ◽

10.19184/jeam.v17i2.9513 ◽

2018 ◽

Vol 17 (2) ◽

pp. 94

Author(s):

Deaninda Sekar Pembayun ◽

Subarjo Subarjo

Keyword(s):

Cash Flow ◽

Ownership Structure ◽

Dividend Policy ◽

Stock Exchange ◽

Linear Regression Analysis ◽

Institutional Ownership ◽

Free Cash Flow ◽

Managerial Ownership ◽

Insurance Company ◽

Beta Coefficient

This study aims to find out the Effect of Managerial Ownership Structure (MNJR), Institutional Ownership Structure (INST), Free cash flow (FCF), and the Ownership Structure on Dividend Policy of Insurance Company Registered on the Indonesia Stock Exchange 2013-2017. The population in this study amounted to 55 insurance companies listed on the Indonesia Stock Exchange in 2013-2017. The samples taken were 11 companies with purposive sampling techniques. Hypothesis testing is carried out using multiple linear regression analysis. The results of the study showed that (1) Managerial Ownership Structure does not affect the Dividend Policy as evidenced by the beta coefficient (B) of 0,000, t = -0,064 <t = 2,008, significance probability of 0,0950> 0,05 (2) ownership structure Institutional effect on Dividend Policy is proven by beta coefficient (B) of 0.020, t = 3.053> t = 2.008 and significance probability value of 0.004 <0.05 (3) Free cash flow does not affect Dividend Policy as evidenced by beta coefficient (B) 0,001, t = 1,904 <t = 2,008 and significance probability value of 0,063> 0,05 (4) probability Managerial Ownership Structure, Institutional Ownership Structure, Simultaneous Cash Flow affect the Dividend Policy as evidenced by the value F = 5,031> F = 4,238 , the significance probability value is 0.009 <0.05. Keywords: Managerial Ownership, Institutional Ownership, Free cash flow and Dividend Policy.

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PENGARUH KEPEMILIKAN MANAJERIAL, KEPEMILIKAN INSTITUSIONAL, FREE CASH FLOW DAN UKURAN PERUSAHAAN TERHADAP KEBIJAKAN HUTANG (Perusahaan Manufaktur Sektor Industri Kertas yang Terdaftar di BEI)

Jurnal Riset Mahasiswa Akuntansi ◽

10.21067/jrma.v6i2.4220 ◽

2020 ◽

Vol 6 (2) ◽

Author(s):

Nurul Puspitasari ◽

Abdul Halim ◽

Rita Indah Mustikowati

Keyword(s):

Cash Flow ◽

Stock Exchange ◽

Linear Regression Analysis ◽

Sampling Technique ◽

Institutional Ownership ◽

Multiple Linear Regression Analysis ◽

Free Cash Flow ◽

Managerial Ownership ◽

Company Size ◽

Debt Policy

This study aims to examine and explain the effect of managerial ownership, institutional ownership, free cash flow, and company size on debt policy in the paper manufacturing sector companies listed on the Indonesia Stock Exchange in 2010-2015. The type of research used is explanatory research, by testing classic assumptions, and analyzed using multiple linear regression analysis and using the t test for partial testing. The number of samples in this study amounted to 5 companies, and the sampling technique used purposive judgment sampling. This research variable consists of managerial ownership, institutional ownership, free cash flow, company size as an independent variable and debt policy as the dependent variable. The results showed that managerial ownership, free cash flow and company size influence debt policy. While institutional ownership has no effect on debt policy.

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PENGARUH FREE CASH FLOW, FINANCIAL DISTRESS, DAN INVESTMENT OPPORTUNITY SET TERHADAP MANAJEMEN LABA

Jurnal Akuntansi Bisnis ◽

10.30813/jab.v14i1.2458 ◽

2021 ◽

Vol 14 (1) ◽

Author(s):

Sally Irawan ◽

Prima Apriwenni

Keyword(s):

Earnings Management ◽

Cash Flow ◽

Financial Distress ◽

Stock Exchange ◽

Total Sample ◽

Free Cash Flow ◽

Investment Opportunity ◽

Purposive Sampling ◽

Investment Opportunity Set ◽

Positive Effect

ABSTRACT : Stakeholders pay attention to the earnings report, thus encouraging company managers to plan strategies to produce reports expected by stakeholders. Earnings management is one way that can be done. Managers can intervene the earnings management by increasing or decreasing profit in order to achieve a certain level of profit which benefits himself or the company. This study aims to determine the influence of free cash flow, financial distress, and investment opportunity set on earnings management. The research sample consisted of 11 infrastructure, utility, and transportation companies listed on the Indonesia Stock Exchange in 2014-2018 with the total sample of 55 data. This study used a purposive sampling method and was tested with SPSS 22.0 Software. The results show that the data have met the pooling test, classical assumptions and established criteria. The results of the F test show that the earnings management variable is affected simultaneously by free cash flow, financial distress, and investment opportunity set variables. The t test results show that the free cash flow and investment opportunity set have a significant positive effect on earnings management, whereas financial distress does not. In sum, there is enough evidence that free cash flow and investment opportunity set positively affect earnings management, but financial distress does not have enough evidence to influence earnings management.Keywords: Earnings Management, Free Cash Flow, Investment Opportunity Set, Financial Distress. ABSTRAK: Laporan laba menjadi perhatian para stakeholders sehingga mendorong manajer perusahaan melakukan perencanaan strategi untuk menghasilkan laporan yang diharapkan stakeholder. Manajemen laba adalah salah satu cara yang dapat dilakukan. Intervensi manajer untuk melakukan manajemen laba dengan cara menaikkan atau menurunkan laba guna mencapai tingkat laba tertentu untuk menguntungkan dirinya sendiri atau perusahaan. Penelitian ini bertujuan untuk mengetahui pengaruh free cash flow, financial distress, dan investment opportunity set terhadap manajemen laba. Sampel penelitian ini adalah perusahaan infrastruktur, utilitas, dan transportasi yang terdaftar di Bursa Efek Indonesia periode 2014-2018. Total sampel yang digunakan adalah 11 perusahaan dengan data observasi yang diperoleh sebanyak 55. Teknik pengambilan sampel yang digunakan adalah non-probability sampling dengan menggunakan metode purposive sampling dan pengujian yang dilakukan dengan bantuan software SPSS 22.0. Hasil penelitian dari data yang digunakan, untuk uji pooling dan asumsi klasik telah lulus uji dan sudah memenuhi kriteria yang ditetapkan. Hasil uji F menunjukkan bahwa variable manajemen laba dipengaruhi secara simultan oleh variable free cash flow, financial distress, dan investment opportunity set. Dari hasil uji t memperlihatkan hasil bahwa free cash flow dan investment opportunity set mempunyai nilai signifikan positif terhadap manajemen laba, tapi untuk financial distress tidak mempunyai nilai signifikan terhadap manajemen laba. Kesimpulan dari penelitian ini adalah free cash flow dan investment opportunity set berpengaruh positif terhadap manajemen laba, sedangkan financial distress tidak berpengaruh terhadap manajemen laba.Kata Kunci: Manajemen Laba, Free Cash Flow, Investment Opportunity Set, Financial Distress

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Analysis the Effect of Financial Distress, Leverage and Free Cash Flow on Earnings Management

GATR Journal of Accounting and Finance Review (AFR) Vol. 4 (4) Oct-Dec 2019 - GATR Accounting and Finance Review ◽

10.35609/afr.2021.6.3(1) ◽

2021 ◽

Vol 6 (3) ◽

pp. 111-119

Author(s):

Rifka Aulia Inayah ◽

Amiruddin Amiruddin ◽

Grace T. Pontoh

Keyword(s):

Earnings Management ◽

Cash Flow ◽

Financial Distress ◽

Stock Exchange ◽

Linear Regression Analysis ◽

Total Sample ◽

Multiple Linear Regression Analysis ◽

Jel Classification ◽

Free Cash Flow ◽

Company Value

Objective - This study aims to determine and analyze the effect of financial distress, leverage, free cash flow on earnings management. Methodology/Technique – The object of this research is all companies listed on the Indonesia Stock Exchange with an observation period of 2019. The sample determination uses the purposive sampling method and a total sample of 124 companies is obtained. The analysis technique used is multiple linear regression analysis. Findings - The results show that financial distress has no significant effect on earnings management. Leverage and free cash flow have a negative and significant effect on earnings management. Novelty - This research contributes to signalling theory, which is used by company managers who have better information about their company will be encouraged to convey this information to potential investors where this is intended so that companies can increase company value by sending signals through financial statements of companies listed on the IDX. Type of Paper: Empirical. JEL Classification: G32, M21, M41, M42. Keywords: Financial Distress; Leverage; Free Cash Flow and earnings Management

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Effect of Bid Ask Spread, Profitability, and Free Cash Flow on Earning Management

Jurnal Akuntansi ◽

10.24912/ja.v23i3.613 ◽

2020 ◽

Vol 23 (3) ◽

pp. 449

Author(s):

Nurainun Bangun

Keyword(s):

Earnings Management ◽

Cash Flow ◽

Sampling Method ◽

Stock Exchange ◽

Free Cash Flow ◽

Earning Management ◽

Manufacturing Companies ◽

Purposive Sampling ◽

Bid Ask Spread

The purpose of this study was to determine the effect of bid ask spread, profitability, and free cash flow on earnings management. The population in this study are manufacturing companies listed on the Indonesia Stock Exchange in 2016-2018. The sampling method used was purposive sampling with predetermined criteria. Earning management is determined by the accruals method. The results of this study stated that the bid ask spread did not have a significant effect on earnings management, while profitability and free cash flow had a significant effect on earnings management.

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Model Pembiayaan Syariah Untuk Perkembangan Perkebunan Kopi di Kabupaten Bener Meriah

Liquidity ◽

10.32546/lq.v7i1.171 ◽

2018 ◽

Vol 7 (1) ◽

pp. 1-6

Author(s):

Ali Muamar ◽

Jafril Khalil ◽

Manager Nasution ◽

Arief Safari ◽

Riawan Amin ◽

...

Keyword(s):

Cash Flow ◽

Stock Exchange ◽

Sampling Technique ◽

Institutional Ownership ◽

Free Cash Flow ◽

Manufacturing Companies ◽

Flow Ratio ◽

Employee Welfare ◽

Analysis Technique ◽

Equity Ratio

This study was conducted to examine the effect of Free Cash Flow Ratio, Debt Equity Ratio (DER), Institutional Ownership, Employee Welfare and Price Earning Ratio (PER) to Divident Payout Ratio (Parliament) partially on manufacturing companies listed on Indonesia Stock Exchange period 2011-2015. In addition, to test the feasibility of regression model, the influence of Free Cash Flow Ratio, Debt Equity Ratio (DER), Institutional Ownership, Employee Welfare and Price Earning Ratio (PER) to Divident Payout Ratio (DPR) simultaneously at manufacturing company listed on Bursa Indonesia Securities period 2011-2015. The population in this study are 146 manufacturing companies that have been and still listed in Indonesia Stock Exchange period 2011-2013. The sampling technique used was purposive sampling and obtained sample of 42 companies. Data analysis technique used is by using multiple linear regression test. The results showed that Free Cash Flow Ratio, no significant effect on Divident Payout Ratio (DPR). Debt Equity Ratio (DER) has a negative and significant influence on Divident Payout Ratio (DPR), Institutional Ownership has a significant positive effect on Divident Payout Ratio (DPR), Employee Welfare and Price.

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Pengaruh Free Cash Flow dan Pertumbuhan Perusahaan Terhadap Kebijakan Utang Pada Perusahaan Sektor Manufaktur yang Terdaftar di Bursa Efek Indonesia Kategori LQ 45 Tahun 2013 – 2017

Neraca : Jurnal Akuntansi Terapan ◽

10.31334/neraca.v1i1.646 ◽

2020 ◽

Vol 1 (1) ◽

pp. 43-54

Author(s):

Nur Fadilla ◽

Fika Aryani

Keyword(s):

Cash Flow ◽

Stock Exchange ◽

Statistical Tests ◽

Linear Regression Analysis ◽

Sampling Technique ◽

Multiple Linear Regression Analysis ◽

Free Cash Flow ◽

Coefficient Of Determination ◽

Significance Level ◽

Debt Policy

This study aimed to analyze the effect of the Free Cash Flow and Company Growth on Debt Policy. This study was classified quantitative research. The population in this study were manufacturing sector companies listed on the Indonesia Stock Exchange in LQ 45 category 2013 - 2017. The sampling technique was saturated sampling with a population of 9 companies and 40 samples. The analysis used was descriptive statistics, statistical tests and multiple linear regression analysis to see the coefficient of determination, the statistical F value and the statistical t value used in the hypotheses test. The results of this study showed that free cash flow has a partially positive and significant effect on debt policy, with a significance level of 0.004 < 0.05. The company's growth has no effect on debt policy with a significance level of 0.125 > 0.05. The two variables Simultaneously affect debt policy. This was based on the value of F count 5.642 > F table 3.25 with a significance level of 0.007 < 0.05. Predictive ability of the two variables on debt policy is 19.2% while the remaining 80.8% is affected by other factors not included in the research model.

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EARNINGS MANAGEMENT : Empirical Study of LQ45 Companies Listed

Management and Entrepreneurship Research Review ◽

10.35899/merr.v1i1.79 ◽

2020 ◽

Vol 1 (1) ◽

pp. 8-14

Author(s):

Risma Agustiani ◽

Ridwan Maulana ◽

Wita Wahyuni Subangkit

Keyword(s):

Earnings Management ◽

Management Practices ◽

Stock Exchange ◽

Linear Regression Analysis ◽

Sampling Technique ◽

Coefficient Of Determination ◽

Company Size ◽

Research Subjects ◽

Financial Leverage ◽

Significance Level

Purpose- This study aims to explore earnings management in LQ45 companies listed on the Indonesia Stock Exchange in 2011-2015. The factors tested in this study are profitability, financial leverage and company size as the independent variable, while earnings management as the dependent variable. Design/Methodology/Approach- The population in this study consisted of 45 companies included in LQ45 on the Indonesia Stock Exchange in the 2011-2015 period. The research sample consisted of 22 companies using a sampling technique that is purposive judgment sampling. The data used is secondary data. The analytical method used in this research is multiple linear regression analysis. The conclusion of the hypothesis is done by observing the coefficient of determination by considering the results of the significant test that is the t-test and F-test significance level of 5%, which first have been tested classical assumptions such as normality test, multicollinearity test, heteroscedastity test, and autocorrelation test. All statistical calculations in this study were carried out using SPSS version 21.0. Findings- Based on the results of the study showed that partially only financial leverage variables that significantly influence earnings management, while profitability and company size variables did not significantly influence earnings management. Simultaneously profitability, financial leverage and firm size significantly influence earnings management. Research Limitations/Implications- This study has several limitations, including the following: 1) Research subjects are limited to companies included in LQ45 companies listed on the ID. 2) The research year is limited only during the 2011-2015 period. 3) The research variables only use three independent variables, namely profitability, financial leverage, and company size. Practical Implications- The advice that researchers can convey based on the results of research that has been done is: 1) For the company, it is suggested that the company be more effective and efficient in carrying out company activities in order to reduce earnings management practices so that the company can demonstrate its performance appropriately. 2) For investors, the results of the study show that earnings management practices can be influenced by the amount of financial leverage. It is therefore recommended to consider ratios in investment decision making. Originallity / Value- The results of this study are not in accordance with the study which states that simultaneous company size, profitability, and financial leverage do not have a significant effect on the dependent variable, namely earnings management.

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THE INFLUENCE OF DIVIDEND PAYOUT RATIO AND FREE CASH FLOW TO DEBT TO EQUITY RATIO

Jurnal Dinamika Akuntansi ◽

10.15294/jda.v8i1.9116 ◽

2017 ◽

Vol 8 (1) ◽

pp. 23

Author(s):

Yurizki Wida Hapsari ◽

Isharijadi Isharijadi ◽

Purweni Widhianningrum

Keyword(s):

Cash Flow ◽

Stock Exchange ◽

Linear Regression Analysis ◽

Sampling Technique ◽

Multiple Linear Regression Analysis ◽

Free Cash Flow ◽

Manufacturing Companies ◽

Dividend Payout ◽

Analytical Technique ◽

Dividend Payments

This study aimed to analyze the effect of dividend payout ratio and free cash flow to the debt to equity at the manufacturing companies which listed in the Indonesia Stock Exchange. The population of this study is manufacturing companies which listed in Indonesia Stock Exchange during the year 2010, 2011, 2012, and 2013 a number of 128 companies. Purposive sampling is used for sampling technique, as many as 33 companies. Data analytical technique in the study is multiple linear regression analysis. The results of this study proved that the dividend payout ratio had significant negative effect on the debt to equity. It showed that the dividend payments appeared as a substitute for debt in the capital structure at the company. Free cash flow positively and significantly influenced debt to equity. It was due to the investment in working capital of the company was greater than the company's operating cash flow.

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