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This Author published in this journals
All Journal Indonesian Financial Review
Muliyani Muliyani
University of Pamulang
Economics, Econometrics & Finance

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The Impact of Information and Firm Size on Earnings Management in Indonesia’s Primary Consumer Sector Companies Muliyani Muliyani; Syamsudin Syamsudin
Indonesian Financial Review Vol. 5 No. 1 (2025)
Publisher : Yayasan Pendidikan Penelitian dan Pengabdian Al-amsi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55538/ifr.v5i1.50

Abstract

This study examines the influence of information asymmetry and firm size on earnings management in Indonesian listed firms. Using panel data analysis, the research evaluates both individual and joint effects of these variables. Descriptive statistics indicate a moderate level of earnings management, with firms exhibiting both income-increasing and income-decreasing adjustments. The results of hypothesis testing reveal that information asymmetry alone does not significantly affect earnings management (p = 0.1764), while firm size has a significant negative effect (p = 0.0001), suggesting that larger firms engage in less opportunistic reporting. However, the F-test shows that information asymmetry and firm size jointly have a significant impact on earnings management (p = 0.036), explaining 34.72% of the variation in the dependent variable. These findings align with agency theory, which emphasizes managerial discretion under information imbalance, and signaling theory, which highlights the strategic use of earnings to communicate firm performance. The study underscores the importance of governance and monitoring mechanisms in mitigating earnings manipulation in Indonesian firms.
Investigating the Impact of Stock Trading Volume, Market Capitalization, and Dividend Policy on Stock Returns: Challenges and Strategic Insights Andini Amelia Putri; Muliyani Muliyani
Indonesian Financial Review Vol. 5 No. 2 (2025)
Publisher : Yayasan Pendidikan Penelitian dan Pengabdian Al-amsi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55538/ifr.v5i2.154

Abstract

This study examines the influence of trading volume, market capitalization, and dividend policy on stock returns of LQ45 companies listed on the Indonesia Stock Exchange from 2019 to 2023. Using a quantitative approach with purposive sampling and panel data regression analysis, the study analyzes 65 observations from 13 firms based on annual reports. The results indicate that all variables jointly affect stock returns. Partially, market capitalization has a significant positive effect, trading volume is not significant, and dividend policy has a significant negative effect. These findings suggest that stock returns in Indonesia are predominantly driven by firm fundamentals rather than market activity indicators. Trading activity may reflect short-term speculative behavior rather than fundamental value. By integrating signaling theory, market efficiency theory, and asset pricing theory, this study provides a comprehensive explanation of stock return determinants.
Co-Authors Andini Amelia Putri Syamsudin Syamsudin