Pengaruh Manajemen Laba terhadap Stock Return dengan Kualitas Audit dan Efektivitas Komite Audit sebagai Variabel Moderasi

Aisyah Istiqomah; Desi Adhariani

doi:10.9744/jak.19.1.1-12

DOI: https://doi.org/10.9744/jak.19.1.1-12

Pengaruh Manajemen Laba terhadap Stock Return dengan Kualitas Audit dan Efektivitas Komite Audit sebagai Variabel Moderasi

Aisyah Istiqomah, Desi Adhariani

Abstract

Penelitian ini bertujuan untuk menganalisis pengaruh manajemen laba terhadap imbal hasil saham (stock return), dengan kualitas audit dan efektivitas komite audit sebagai variabel pemoderasi. Manajemen laba diukur dengan akrual diskresioner menggunakan model Modified Jones. Stock Return diukur dengan menggunakan imbal hasil saham kumulatif. Kualitas audit diproksi dengan variabel dummy Big 4 atau non Big 4; dan efektivitas komite audit diukur dengan jumlah rapat yang dilakukan dalam satu tahun. Penelitian ini dilakukan dengan sampel perusahaan manufaktur yang terdaftar pada Bursa Efek Indonesia untuk periode 2012-2014. Hasil penelitian menunjukkan bahwa manajemen laba memiliki pengaruh negatif terhadap imbal hasil saham. Kualitas audit dan efektifitas komite audit ditemukan mampu memperlemah hubungan negatif tersebut, yang mengindikasikan bahwa kedua mekanisme pengawasan tersebut berfungsi dengan baik dalam memitigasi dampak negatif manajemen laba terhadap imbal hasil saham.

Keywords

Manajemen laba; imbal hasil saham; kualitas audit; efektivitas komite audit.

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