Pengaruh IFR dan Tingkat Pengungkapan Informasi terhadap Nilai Perusahaan dengan Relevansi Nilai sebagai Variabel Intervening
DOI:
https://doi.org/10.32493/JABI.v4i1.y2021.p53-72Keywords:
IFR, vaule of the firm, value relevance, disclosure.Abstract
Abstract
This research is conducted to investigate Internet Financial Reporting (IFR) and the level of information disclosure on firm value with the value relevance of accounting information as an intervening variable. This research used secondary data for the period 2008-2019 on banking companies listed on the Indonesia Stock Exchange. The sampling technique used saturated sampling. Tools for processing data using SPSS 22. Data analysis using path analysis. The results showed that IFR and the level of information disclosure had a positive effect on value relevance when tested simultaneously. The higher the application of IFR and the level of information disclosure the higher the value relevance. Meanwhile, IFR and the level of information disclosure have a negative effect on firm value. The results show that the application of IFR is good and the level of disclosure of the information is fair disclosure, but the market reaction is down, as evidenced by the value of the stock market value is smaller than the book value (undervalue). Value relevance has no effect on firm value. The results showed that the value relevance is high, but the market value is low. So that it has no value for investors in the company to get capital gains. This means that accounting information has lost its function to influence investors in making decisions. However, value relevance itself is a variable that intervenes between IFR and the level of information disclosure simultaneously on firm value.
Keywords: IFR; value of the firm; value relevance; disclosure.
Abstrak
Penelitian ini bertujuan untuk menguji pengaruh Internet Financial Reporting (IFR) dan tingkat pengungkapan informasi terhadap nilai perusahaan dengan relevansi nilai informasi akuntansi sebagai variabel intervening. Penelitian ini menggunakan data sekunder periode tahun 2008-2019 pada perusahaan perbankan yang terdaftar di Bursa Efek Indonesia. Teknik pengambilan sampel menggunakan sampling jenuh. Alat untuk mengolah data menggunakan SPSS 22. Analisis data menggunakan analisis jalur atau path analysis. Hasil penelitian menunjukkan IFR dan tingkat pengungkapan informasi mempunyai pengaruh positif terhadap relevansi nilai bila diuji secara simultan. Semakin tinggi penerapan IFR dan tingkat pengungkapan informasi semakin tinggi pula relevansi nilainya. Sedangkan IFR dan tingkat pengungkapan informasi memiliki pengaruh negatif terhadap nilai perusahaan. Hasil penelitian menunjukan bahwa penerapan IFR nya baik dan tingkat pengungkapan informasinya pun fair disclosure, namun reaksi pasar nya turun, ini terbukti dari nilai nilai pasar saham lebih kecil dari nilai bukunya (under value). Relevansi nilai tidak memiliki pengaruh terhadap nilai perusahaan. Hasil penelitian menunjukan bahwa relevansi nilai tinggi, namun nilai pasarnya rendah. Sehingga tidak mempunyai value bagi investor di perusahaan untuk mendapatkan capital gain. Hal ini berarti informasi akuntansi telah kehilangan fungsinya mempengaruhi investor dalam pengambilan keputusan. Namun relevansi nilai sendiri merupakan variabel intervening antara IFR dan tingkat pengungkapan Informasi secara simultan terhadap nilai perusahaan.
Kata kunci: IFR; nilai perusahaan; relevansi nilai; disclosure.
References
Aly, D., Simon, J., & Hussainey, K. (2009). Determinant of Corporate Internet Reporting: Evidence from Egypt. Managerial Auditing Journal, 25(2): 182:2002.
Anis Chariri dan Imam Ghazali. (2003). Teori Akuntansi. Semarang: Badan Penerbit Universitas Diponegoro.
Barth, M. E., Beaver, W. H., dan Landsman, W. R. (2008). The Relevance of the Value Relevance Literature for Financial Accounting Standard Setting: Another View. Journal of Accounting and Economics, 31(1-3), 77-104.
Brigham, E.F. dan Gapensi, Louis C. (1996). Intermediate Finance Management, 15th ed. J. harbor Drive, the Dryden Press.
Brigham, Eugene F., & Houston, Joel F. (2013). Dasar-dasar Manajemen Keuangan, Edisi 11 buku 2. Jakarta: Salemba Empat.
Darmawati, D. Khomsiyah, dan R.G. Rahayu. (2004). Hubungan Corporate Governance dan Kinerja Perusahaan. Artikel Simposium Nasional Akuntansi (SNA) VII Denpasar, 382-398.
Emrinaldi, Nur. Dan Enny Susilowati. (2015). Perbandingan Tingkat dan Ruang Lingkup Pengungkapan Pelaporan Kuangan Basis Internet Terhadap Harga Saham. Jurnal Keuangan dan Perbankan, Vol. 19, No. 2. Mei 2015: 252-262.
Fama, Eugene F. (1990). Term Structure Forecast of Interest Rates, Inflation, and Real Return. Journal of Monetary Economics, 25, 59-76.
Francis, Jeniffer and Katherine Schipper. (1999). Have Financial statement Lost Their Relevance. Journal of Accounting. 37.p.319-352.
Jones, Charles P. 2009. Investments analysis and management, (10th Ed.). New Jersey: John Wiley & Sons, Inc.
Lai, S.C., C. Lin, H.C. Li, dan F.H. Wu. (2009). An Empirical Study of The Impact of Internet Financial Reporting on Stock Prices. The International Journal of Digital Accounting Research. 10(1): 1-26.
Lev, Baruch, and Paul Zarowin. (1999). The Boundaries of Financial Reporting and How to Extend Them. Journal of Accounting Research, Vol. 37, 353-385.
Murtanto dan Elvina. (2005). Pengaruh Karakteristik Perusahaan terhadap Pengungkapan Sukarela dalam Laporan Tahunan Perusahaan yang Terdaftar dalam BEJ. Ekonomi dan Bisnis UNISSULA, Vol. 6, No. 1, 47-57.
Pinasti, Margani. (2004). Faktor-faktor yang Menjelaskan Variasi Relevansi-Nilai Informasi Akuntansi: Pengujian Hipotesis Informasi Alternatif, Simposium Nasional Akuntansi VII.
Rosmaini, S., Ariff, M., Kamil, M., Hancock, D.R. (2009). Business Reporting on the Internet: Development of a Disclosure Quality Index. International Journal of Business and Economics, Vol. 8, No.1: 55-79.
Salvatore, Dominick. (2005). Ekonomi Manajerial dalam Perekonomian Global. Jakarta: Salemba Empat.
Santoso, Singgih. (2010). Panduan Lengkap Menguasai Statistik dengan SPSS 17. Jakarta: Penerbit PT. Elex Media Komputindo.
Soemarso, S.R. (2003). Akuntansi Suatu Pengantar (Buku 2). Jakarta: Salemba Empat.
Sugiyono. (2012). Metode Penelitian Kuantitatif Kualitatif dan R&B. Bandung: Alfabeta.
Suwardjono. (2005). Teori Akuntansi. Edisi 3. Yogyakarta: BPFE.
Alteza, M. (2007). Efek Hari Perdagangan Terhadap Return Saham: Suatu Telaah atas Anomali Pasar Efisien. Jurnal Ilmu Manajemen Vol.3, No. 1, 31-42.
Downloads
Published
Issue
Section
License
Authors who publish with this journal agree to the following terms:- Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.
- Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.
- Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See The Effect of Open Access)
