Pengaruh Pengungkapan Sukarela pada Cost of Equity Capital dengan Asimetri Informasi sebagai Intervening Variable

Armadi, H ( Fakultas Ekonomi Unswagati, Cirebon)
Anggraeni, Mariska Dewi ( Fakultas Ekonomi Unswagati, Cirebon)

Trikonomika: Jurnal Ekonomi
Vol 9, No 1 (2010): Edisi Juni 2010

This research investigates the influence of voluntary disclosure to the cost of equity capital with information asymmetry as intervening variable to 137 sample firms listed in Jakarta Stock Exchange on 2005. Based on previous agency theory perspective, the voluntary disclosure and information asymmetry influence the cost of equity capital. The result of research by using path analysis are that voluntary disclosure influences cost of equity capital significantly negative, voluntary disclosure could directly influence the cost of equity capital and also could indirectly influence from voluntary disclosure to information asymmetry (as intervening) to cost of equity capital. Because of the coefficient of direct context was greater than coefficient of indirect context, it could be concluded that the true context is direct.