Pengaruh Profitabilitas, Leverage, dan Kebijakan Dividen terhadap Kualitas Laba: Studi Empiris pada Perusahaan Consumer Non-Cyclicals Periode 2021-2024

Muhammad Rafito Kirana Putra (University of Pembangunan Nasional Veteran Jawa Timur)
Gideon Setyo Budiwitjaksono (University of Pembangunan Nasional Veteran Jawa Timur)

MUQADDIMAH: Jurnal Ekonomi, Manajemen, Akuntansi dan Bisnis
Article in Press

Earnings presented in financial statements must possess high quality as a reliable basis for economic decision-making; however, high market demands often trigger conflicts of interest and opportunistic behaviors aimed at artificially managing financial records. In response, this current paper analyzes how profitability, leverage, and dividend payout policies affect on the quality of earnings among consumer non-cyclical firms registered on the Indonesian Stock Exchange between 2021 and 2024. Employing a quantitative approach with purposive sampling, panel data regression analysis was conducted on 47 sample companies, totaling 188 observations. The findings reveal that the quality of earnings is not significantly influenced by profitability, leverage, or dividend policy. These findings suggest that profit margins, debt proportions, and routine dividend distributions cannot be used as primary benchmarks representing the purity of operational earnings. Consequently, this emphasizes the importance for investors to broaden their investment evaluations by reviewing actual cash flows and corporate governance effectiveness to avoid information bias.