ANALISA DETERMINAN PRAKTIK PERATAAN LABA DAN DAMPAKNYA TERHADAP NILAI PERUSAHAAN (Studi Empiris pada Emiten BUMN Tahun 2016-2019)

MULYATI, SRI (2021) ANALISA DETERMINAN PRAKTIK PERATAAN LABA DAN DAMPAKNYA TERHADAP NILAI PERUSAHAAN (Studi Empiris pada Emiten BUMN Tahun 2016-2019). S2 thesis, Universitas Mercu Buana Jakarta.

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Abstract

The purpose of this research was to determine the effect of leverage, firm size and sales growth on income smoothing and its implication to the firm value. The population used on this research was 24 state-owned companies listed on Indonesia Stock Exchange. The samples were determined using purposive sampling method and there were 19 companies which selected as the samples. The analytical method used on this research was statistic descriptive and panel data regression. The Adjusted R-squared for each model are 24,92% (the first model), 14,49% (the second model), and 4,42% (the third model). The result of this research showed that leverage which measured by debt to equity ratio have positive and insignificant effect on firm value and negative and insignificant effect on income smoothing, firm size have negative and significant effect on both firm value and income smoothing, sales growth have positive and significant effect on firm value and negative and significant effect on income smoothing, and last but not least income smoothing was found to have positive and significant effect on the firm value. Keyword: firm value, income smoothing, leverage, firm size, sales growth Penelitian ini bertujuan untuk menguji pengaruh leverage, firm size, dan sales growth terhadap perataan laba serta implikasinya terhadap nilai perusahaan. Populasi penelitian ini adalah emiten BUMN tahun 2016-2019. Data dikumpulkan dengan menggunakan metode purposive sampling dan berdasarkan kriteria yang digunakan terpilih 19 perusahaan yang dijadikan sampel. Metode analisis yang digunakan ialah statistik deskriptif dan analisis regresi data panel. Berdasarkan hasil pengujian, ditemukan nilai Adjusted R-squared sebesar 24,92% untuk model pertama, 14,49% untuk model kedua dan 4,42% untuk model ketiga. Hasil pengujian menunjukkan bahwa leverage yang diukur dengan debt to equity ratio berpengaruh positif tidak signifikan terhadap nilai perusahaan dan berpengaruh negatif tidak signifikan terhadap perataan laba, firm size berpengaruh negatif signifikan tehadap nilai perusahaan dan perataan laba, sales growth berpengaruh positif signifikan terhadap nilai perusahaan dan berpengaruh negatif signifikan terhadap perataan laba, serta perataan laba berpengaruh positif signifikan terhadap nilai perusahaan. Kata kunci: Nilai perusahaan, perataan laba, debt to equity ratio, firm size, sales growth

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