RELEVANSI NILAI INFORMASI AKUNTANSI, INTELLECTUAL CAPITAL, CORPORATE GOVERNANCE, PERSISTENSI LABA DAN ASIMETRI INFORMASI

  • Claudya Hutauruk Universitas Bung Hatta
  • Dwi Fitri Puspa Universitas Bung Hatta
Keywords: value relevance, intellectual capital, corporate governance, earnings persistence, information asymmetry

Abstract

Value relevance of accounting information is the ability of accounting information to explain or describe company values ​​that will assist information users in understanding and making financial decisions. This study aims to empirically examine the effect of intellectual capital, corporate governance (as measured by managerial ownership, institutional ownership, independent commissioners and audit committees), earnings persistence and information asymmetry on value relevance (as measured by stock prices) in basic materials companies listed on the Indonesia Stock Exchange in 2017 – 2021. Using the purposive sampling method, a sample of 36 companies was obtained. The type of data used in this research is secondary data obtained from www.idx.co.id.  Hypothesis testing was carried out using multiple linear regression analysis using eviews 12 software. The results showed that book value per share, earnings per share, intellectual capital, and managerial ownership had a negative and significant effect on stock prices. Institutional ownership has a positive and significant effect on stock prices. Independent board of commissioners, audit committee, earnings persistence and information asymmetry have no effect on stock prices.

References

A. Prasetyantoko. (2013). Corporate Governance. PT Gramedia Pustaka Utama. https://books.google.co.id/books/about/Corporate_Governance.html?id=sqNLDwAAQBAJ&redir_esc=y

Alex, F. U., Putri, N. K., & Fitriana, N. (2022). Pengaruh Earning Per Share, Roe, Der Dan Bvs Terhadap Harga Saham Pada Bank Pemerintah Yang Terdaftar Di Bursa Efek Indonesia. Jurnal Kompetitif, 11(1), 65–71. https://doi.org/10.52333/kompetitif.v11i1.904

Alfraih Mishari M. (2017). The value relevance of intellectual capital disclosure : empirical evidence from Kuwait. Journal of Financial Regulation and Compliance : An International Journal, 25, 22–38. https://doi.org/10.1108/JFRC-06-2016-0053

Ardian, A., Lukman, H., & Henny. (2018). Faktor-Faktor Yang Mempengaruhi Persistensi Laba Pada Perusahaan Properti Dan Real Estate. Jurnal Multiparadigma Akuntansi Tarumanagara, 1(1), 1–10.

Ardiyani, I., & Armereo, C. (2016). Pengaruh Suku Bunga, Inflasi, Nilai Buku Terhadap Harga Saham Perusahaan Indeks Lq45 Yang Terdaftar di Bursa Efek Indonesia (BEI). Jurnal Ilmiah Orasi Bisni, 15, 44–64. https://jurnal.polsri.ac.id/index.php/admniaga/article/view/633

Arora, A., & Sharma, C. (2016). Corporate governance and firm performance in developing countries: evidence from India. Corporate Governance (Bingley), 16(2), 420–436. https://doi.org/10.1108/CG-01-2016-0018

Aryo Bimo Setya Permana. (2015). Pengaruh Relevansi Nilai Terhadap Keputusan Investor. 3, 1–20.

Astuti, P., Sari, Y. L., & WA, A. R. (2018). Analisis Pengaruh Return On Equity, Earning Per Share, Price To Book Value, Book Value Per Share, Price Earning Ratio dan Kepemilikan Institusional terhadap Harga Saham Perusahaan. Jurnal Ekonomi, 20(2), 170–183.

Barth, Mary E., William H. Beaver, W. R. L. (2001). The relevance of the value relevance literature for financial accounting standard setting: another view. The Relevance of the Value Relevance Literature for Financial Accounting Standard Setting: Another View, 31(1-3), 77–104. https://doi.org/10.1016/S0165-4101(01)00019-2

Baruch Lev & Stefano Zambon. (2003). Intangibles and intellectual capital: an introduction to a special issue. European Accounting Review, 12(4), 597–603. https://doi.org/10.1080/0963818032000162849

Cahyani, A. (2017). Pengaruh kepemilikan institusional, dewan komisaris independen,komite audit dan kualitas audit terhadap tax avoidance. Seminar Nasional Dan The 4th Call for Syariah Paper, 1(4), 76–89. https://publikasiilmiah.ums.ac.id/xmlui/handle/11617/9217

Chasanah, C., & Kiswara, E. (2017). Pengaruh Laba Per Lembar Saham , Nilai Buku Per Lembar Saham , dan Transaksi Abnormal Pihak Berelasi Terhadap Relevansi Nilai Dengan Mekanisme Tata Kelola Perusahaan Sebagai Variabel Moderasi. Diponegoro Journal of Accounting, 6(3), 1–10.

Darmawan Putra, D. R. A. (2018). Analisis Pengaruh Kepemilikan Institusional dan Kepemilikan Manajerial Terhadap Kinerja dan Nilai Perusahaan. Studi Akuntansi Dan Keuangan Indonesia, 1(1), 1–24. https://doi.org/10.21632/saki.1.1.1-24

Dwi Agung Kristanto dan Ari W. (2012). Pengaruh modal intelektual terhadap harga saham melalui ROA (pada perusahaan perbankan yang go public di Bursa Efek Indonesia) [Universitas Negeri Malang]. In Repositori Universitas Negeri Malang. http://repository.um.ac.id/id/eprint/36513

Dwina Widianing Putri. (2016). Dampak Asimetri Informasi dan Mandatory Disclosure terhadap Relevansi Nilai Informasi Sebelum dan Sesudah Implementasi Ifrs (Studi Empiris pada Perusahaan Manufaktur yang Terdaftar di BEI). https://etd.umy.ac.id/id/eprint/25480/11/Naskah Publikasi.pdf

Fanisa, Y. (2021). Pengaruh Konservatisme Akuntansi, Good Will To Asset Ratio, Ukuran Komite Audit Dan Other Comprehensive Income Terhadap Value Relevance. http://repo.bunghatta.ac.id/id/eprint/5159

Faradilla, N. C., Shodiq, N., & Junaidi. (2017). Pengaruh Persistensi Laba, Growth Opportunities, dan Ukuran Perusahaan Terhadap Relevansi Nilai Laba Akuntansi (Studi Empiris Pada Perusahaan Manufaktur Yang Terdaftar Di BEI Selama Periode. 1, 1–15. http://www.riset.unisma.ac.id/index.php/jra/article/view/341

Fiador, V. O. (2013). Corporate governance and value relevance of financial information: Evidence from the Ghana Stock Exchange. Corporate Governance (Bingley), 13(2), 208–217. https://doi.org/10.1108/14720701311316689

Firmansyah, A., & Yusuf, Y. (2020). The Value Relevance of Corporate Disclosures: Social Responsibility, Intellectual Capital, Corporate Governance. Assets: Jurnal Akuntansi Dan Pendidikan, 9(1), 61. https://doi.org/10.25273/jap.v9i1.5128

Handayani, S., dan Putra, A. (2013). Dampak Asimetri Informasi Dan Manajemen Laba Terhadap Relevansi Informasi Akuntansi Pada Berbagai Tingkat Pengungkapan Laporan Keuangan Perusahaan Manufaktur Di Indonesia. Simposium Nasional Akuntansi XVI Manado.

Hayati, M., Yurniwati, & Putra, A. R. (2015). The Effect of Intellectual Capital to Value Relevance of Accounting Information Based on PSAK Convergence of IFRS (Manufacture Firms in Indonesia). Procedia - Social and Behavioral Sciences, 211, 999–1007. https://doi.org/10.1016/j.sbspro.2015.11.133

Houtmand P Saragih. (2022). Laba Naik 100%, Saham INCO Malah Mentok Kena ARB. CNBC Indonesia. https://www.cnbcindonesia.com/market/20220510100506-17-337698/laba-naik-100-saham-inco-malah-mentok-kena-arb

Irfani, R., & Anhar, M. (2019). Pengaruh Profitabilitas, Leverage, Kepemilikan Manajerial, Dan Kepemilikan Institusional Terhadap Harga Saham (Studi Empiris : Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia (BEI) Tahun 2015-2017). Jurnal STEI Ekonomi, 28(01), 150–151.

Jalil, M. R. (2013). Pengaruh persistensi laba, growth opportunities , dan ukuran perusahaan terhadap relevansi nilai laba akuntansi. Jurnal Akuntansi, September, 1–29.

Jennifer Francis and Katherine Schipper. (1999). Have Financial Statements Lost Their Relevance? Journal of Accounting Research, Vol. 37, N, 319–352. https://doi.org/10.2307/2491412

Jensen, M. C., & Meckling, W. H. (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure. In Journal of financial economics, 3 (4) (pp. 305–360).

Kieso, Weygandt, dan W. (2011). Akuntansi Intermediate. https://www.researchgate.net/publication/321794073_Intermediate_Accounting_11th_Canadian_Edition

Labiba, azkafiras mas rasmini nanden kostini. (2021). Pengaruh Earning Per Share dan Deviden Per Share terhadap Harga Saham. Jurnal Riset Akuntansi, 1(2), 76–81. https://doi.org/10.29313/jra.v1i2.417

Lestari, & Munandar, A. (2017). Pengaruh Intellectual Capital & Kepemilikan Institusional Terhadap Nilai Perusahaan. Jurnal Dinamika Ekonomi & Bisnis, 14(1), 17–39.

Lindra, F. R., Suparlinah, I., Ayu, R., Wulandari, S., Sunarmo, A., Akuntansi, J., Soedirman, U. J., Manajerial, K., Institusional, K., Independen, D. K., & Audit, K. (2022). Pengaruh Good Corporate Governance Terhadap Manajemen Laba. Jurnal Ekonomi, Bisnis Dan Akuntansi (JEBA), 24(2), 1–16.

Martin Clarke, Dyna Seng, and, & Whiting, R. H. (2011). Intellectual capital and firm performance in Australia. Journal of Intellectual Capital, 12(4), 505–530. Intellectual capital and firm performance in Australia

Mo’o, O., Mangantar, M., & Tulung, J. E. (2018). Pengaruh struktur modal, kepemilikan manajerial dan kebijakan dividen terhadap harga saham (studi kasus pada perusahaan manufaktur subsektor food and beverages yang terdaftar di BEI periode 2012-2016). Jurnal EMBA: Jurnal Riset Ekonomi, Manajemen, Bisnis Dan Akuntansi, 6(3), 1138–1147.

Naimah, Z. (2014). Relevansi Nilai Informasi Akuntansi: Suatu Kajian Teoritis. Jurnal Buletin Studi Ekonomi, 19(1), 105–117.

Ntim, C.G. and Soobaroyen, T. (2013). Corporate Governance and Performance in Socially Responsible Corporations: New Empirical Insights from a Neo-Institutional Framework. An International Review, 468–494. https://doi.org/10.1111/corg.12026

Nugroho, N. A., & Hatane, S. E. (2017). Pengaruh Board Independent Terhadap Value Relevance Dengan Intellectual Capital Disclosure Sebagai Variabel Mediasi Pada Perusahaan Manufaktur Di Indonesia. Business Accounting Review, 5(2), 577–588. http://publication.petra.ac.id/index.php/akuntansi-bisnis/article/view/6634/6016

Pertiwi, D. B., & Suhardianto, N. (2016). Relevansi Nilai Selisih Loans Book Value dan Loans Fair Value, Book Value Per Share, Earnings Per Share dan Ukuran Perusahaan. Jurnal Akuntansi Dan Keuangan, 17(2), 82–90. https://doi.org/10.9744/jak.17.2.82-90

Pratama, R. F., & Ismawati, K. (2021). Pengaruh Dewan Direksi, Dewankomisaris Dan Komite Audit Terhadap Harga Saham Perusahaan Manufakturyang Terdaftardi Bei Periode2016-2018. Surakarta Accounting Review (SAREV), 3 No. 1 Ju(1), 11–17.

Puspa, D. F., Minovia, A. F., & Zaitul. (2022). Relevansi Nilai Informasi Akuntansi, Pengungkapan Upaya Digitalisasi dan Modal Intelektual Dengan Modal Manusia Sebagai Variabel Moderasi. 22(1), 19–40.

Puspa, D. F., Nazaruddin, I., M, R. Y., & Minovia, A. F. (2023). Relevansi Nilai Laba, Nilai Buku dan Arus Kas Operasi pada Perusahaan Manufaktur di Indonesia. Jurnal of Accounting and Invesment. https://doi.org/10.18196/jai.v24i1.16193

Putri, D. A. R., Rahmawati, E., & Sofyani, H. (2018). Asimetri Informasi Dan Mandatory Disclosure Konvergensi International Financial Reporting Standard: Efek Terhaadap Relevansi Nilai Informasi Laba Dan Nilai Buku. Media Riset Akuntansi, Auditing & Informasi, 18(1), 1–18. https://doi.org/10.25105/mraai.v18i1.2807

Putri, S. E., & Panggabean, R. R. (2020). the Effects of Corporate Governance, Firm Size, Profitability, and Growth Opportunities on the Value Relevance of Accounting Earnings – a Study of the Indonesia Stock Exchange. Ultimaccounting : Jurnal Ilmu Akuntansi, 12(2), 174–193. https://doi.org/10.31937/akuntansi.v12i2.1702

Rahma Nurul Aida dan Evi Rahmawati. (2015). Pengaruh Modal Intelektual dan Pengungkapannya Terhadap Nilai Perusahaan: Efek Intervening Kinerja Perusahaan. Jurnal Akuntansi & Investasi, 16, 96–109.

Rahmadewi, P. W., & Abundanti, N. (2018a). Pengaruh Eps, Per, Cr Dan Roe Terhadap Harga Saham Di Bursa Efek Indonesia. E-Jurnal Manajemen Universitas Udayana, 7(4), 2106. https://doi.org/10.24843/ejmunud.2018.v07.i04.p14

Rahmadewi, P. W., & Abundanti, N. (2018b). Pengaruh EPS, PER, CR, Dan ROE Terhadap Harga Saham. E-Jurnal Manajemen Unud, 7(4), 2106–2133.

Randy Kuswanto, Prima Aprilyani Rambe, S. R. (2017). Relevansi Nilai Informasi Akuntansi Dengan Model Valuasi Ohlson. Jurnal Ilmiah Akuntansi Dan Finansial Indonesia, 1(1), 45–58. https://doi.org/10.31629/jiafi.v1i1.1238

Robert S. Kaplan, D. P. N. (2004). The strategy map: guide to aligning intangible assets. 32, 10–17. The strategy map: guide to aligning intangible assets

Rosalita Rachma Agusti & Aulia Fuad Rahman. (2011). Relevansi Informasi Akuntansi : Peran Pengungkapan Corporate Social Responsibility Dan Dewan Komisaris Independen. JAAI, 15, 121–129.

Safira, I. F., & Dillak, V. J. (2021). Pengaruh Eva, Retention Ratio, Dan Proporsi Dewan Komisaris Independen Terhadap Harga Saham. Jurnal Ilmiah MEA (Manajemen, Ekonomi, Dan Akuntansi), 5(1), 1000. www.koran-jakarta.com

Santoso, G. (2015). Determinan Koefisien Respon Laba. Accounting Analysis Journal, 5(1), 69–85.

Sari, E. P., Handajani, L., & AM, S. (2016). Corporate Governance dan Relevansi Nilai Dari Penghindaran Pajak: Bukti Empiris Dari Pasar Modal Indonesia. Jurnal Dinamika Akuntansi Dan Bisnis, 3(2), 33–48. https://doi.org/10.24815/jdab.v3i2.5385

Simbolon, H. A. (2010). Value Relevance. https://akuntansiterapan.com/2010/06/16/value-relevance/

Sondokan, N. V, Koleangan, R., Karuntu, M. M., Dewan, P., Independen, K., Direksi, D., Komite, D. A. N., Sondokan, N. V, & Karuntu, M. M. (2019). Pengaruh Dewan Komisaris Independen, Dewan Direksi, Dan Komite Audit Terhadap Nilai Perusahaan Yang Terdaftar Dibursa Efek Indonesia Periode 2014-2017. Jurnal EMBA: Jurnal Riset Ekonomi, Manajemen, Bisnis Dan Akuntansi, 7(4), 5821–5830.

Sri Mulyani, Nur Fadjrih Asyik, A. (2007). Faktor – Faktor Yang Memengaruhi Earnings Response Coefficient. Jurnal Paradigma Akuntansi, 11(1), 35–45. https://doi.org/10.24912/jpa.v4i1.17016

Subramanyam, K. R. (2014). Financial Statement Analysis (11th ed.). https://omidfa.ir/uploads/files/K.R._Subramanyam_-_Financial_Statement_Analysis-McGraw_Hill_(2014).pdf

Sunardi, N. (2019). Relevansi Intelectual Capital terhadap Harga dan Retun Saham di Industri Perbankan Pemerintah di Indonesia. Jurnal Ilmiah Manajemen Forkamma, 3(1), 95–108.

Sutedi, A. (2011). Good Corporate Governance. https://opac.perpusnas.go.id/DetailOpac.aspx?id=814014#

Udayana, I. M. D., & Miartana, I. P. (2018). Komisaris Independen, Komite Audit, Struktur Modal, Profitabilitas dan Harga Saham. Jurnal Manajemen Dan Bisnis, 15(2), 1–17.

Widyatama, J., & Hatane, S. E. (2017). Pengaruh Board Structure dan Ownership Structure Terhadap Value Relevance of Accounting Information Melalui Intellectual Capital Disclosure Sebagai Variabel Mediasi. Business Accounting Review, 5(2), 145–156. http://publication.petra.ac.id/index.php/akuntansi-bisnis/article/view/6544

Published
2023-04-30
Section
Articles
Share |