PENGARUH KUALITAS LABA TERHADAP COST OF EQUITY CAPITAL DENGAN ASIMETRI INFORMASI SEBAGAI INTEGRASI VARIABEL INTERVENING DAN MODERATING (STUDI PADA PERUSAHAAN TERDAFTAR DI BEI PERIODE TAHUN 2007-2016)

Abstract

This study aims to determine the direct effect of Profit Quality on Cost Of Equity
Capital , the direct influence of Profit Quality on Information Asymmetry, Direct
Influence Asymmetry Information on Cost Of Equity Capital , the influence of Profit
Quality through Information Asymmetry against Cost Of Equity Capital and
influence moderation Asymmetry Information against the relationship between Profit
Quality and Cost Of Equity Capital in Consumer Goods Industry company listed on
BEI period 2007-2016. The study was conducted for 1 month, from April 2018. The
object of this research is a manufacturing company engaged in the field of consumer
goods industry listed on the IDX period 2007-2016 as many as 27 companies. The
data used are secondary data sourced from the financial statements of issuers of
annual financial reports (annual report) for the period 2007 to 2017 obtained from
the BEI website. Data analysis techniques use path analysis using Smart-PLS
software (Partial Least Square) starting from model measurement (outer model),
model structure (inner model) and hypothesis testing. The results of testing the first
hypothesis in this study indicate that the Quality of Profit significantly influence the
Cost Of Equity Capital. The results of the second hypothesis show that there is no
significant influence between the Quality of Profit on Information Asymmetry.
Because the percentage of magnitude of the effect is only 0.04%. Then the results
of the third hypothesis Asymmetry Information significant effect on Cost of Equity
Capital. The magnitude of the effect is a percentage of 1.23%. Further the fourth
hypothesis shows that there is no effect of Profit Quality against Cost of Equity
Capital through Information Asymmetry. Because the percentage of magnitude of
the effect is only 0.01%. As well as the results of the fifth hypothesis concluded that
moderation interactions Asymmetry Information on the Quality of Profit against Cost
Of Equity Capital. But the percentage of the magnitude of the effect is only 0.41% so
it is not enough role in improving the influence of Profit Quality against Cost of
Equity Capital.