PENGARUH SET PELUANG INVESTASI DAN FINANCIAL LEVERAGETERHADAP RETURN SAHAM YANG DIMEDIASI OLEH MANAJEMEN LABA (Studi Pada Perusahaan Manufaktur Periode 2010–2013 yang Terdaftar di Bursa Efek Indonesia)

Agustina, Islahuddin, Muhammad Arfan.

Jurnal Administrasi Akuntansi : Program Pascasarjana Unsyiah
Vol 4, No 3: Agustus 2015

Abstract: This purpose of this study is to determine the effect of investment opportunity set, financial leverage on earnings management as well as to determine the influence of investment opportunity set, financial leverage and earnings management on return share, both simultaneously or partially. This studies conducted in 69 companies listed on the Indonesia Stock Exchanges (IDX) during the years observation period 2010-2013 using purposive sampling and panel data is unbalanced. The method of data analysis used is multiple linear regression with path analysis and hypothesis testing. The results of studyshow that: the investment opportunity set to the effect on earning management, financial leverage effect on earning management, investment opportunity set influence on return share, financial leverage effect on return share, earning management influence on return share, as well as earnings management mediating the effect of the set of investment opportunities on return share, earnings management mediating the effect of financial leverage on return share. Keywords : Investment opportunity set, financial leverage, earning management, return share. Abstrak: Penelitian ini bertujuan untuk mengetahui pengaruh set peluang investasi, financial leverageterhadap manajemen laba serta untuk mengetahui pengaruh set peluang investasi, financial leveragedan manajemen laba terhadap returnsaham, baik secara simultan maupun parsial. Sampel penelitian dilakukan pada 69 perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia (BEI) selama periode pengamatan tahun 2009–2013 dengan menggunakan metode purposive samplingdan data panel tidak seimbang. Metode analisis yang digunakan adalah regresi linear berganda dengan analisis jalur dan pengujian hipotesis. Hasil penelitian menunjukkan bahwa: set peluang investasi berpengaruh terhadap manajemen laba, financial leverageberpengaruh terhadap manajemen laba, set peluang investasi berpengaruh terhadap returnsaham, financial leverageberpengaruh terhadap returnsaham, manajemen laba berpengaruh terhadap returnsaham, serta manajemen laba memediasi pengaruh set peluang investasi terhadap returnsaham, manajemen laba memediasi pengaruh financial leverageterhadap returnsaham. Kata kunci: Set peluang investasi, financial leverage, manajemen laba, return saham.