The Influence of Accounting Conservatism and Economic Value Added on Corporate Equity Assessment.

Abstract

This research was intended to examine the influences of Accounting Conservatism and Economic Value Added toward Equity Valuation on manufacturing companies listed in Indonesia Stock Exchange. The independent variables used in this research were Accounting Conservatism and Economic Value Added. This research used secondary data that was obtained from the Indonesia Stock Exchange official website, which has been published in 2011 until 2013. The technique that was used to gather the sample was purposive sampling and there were 18 companies. Which all sample (N) in three years was 54 samples. Those 54 samples would analyse further in this research. The method used in this research was multiple linear regression analysis. The result of t-test showed that the first variable, accounting conservatism, had a negative and significant effect to equity valuation. The second variable, which was Economic Value Added, showed a positive and significant effect to equity valuation. The result of f-test accounting conservatism and Economic Value Added showed that both of them give simultaneously and significant effect to equity valuation. 
 
 Key Words: Equity Valuation, Price Book Value, Accounting Conservatism, and Economic Value Added

The Effect of Earning Per Share, Price to Book Value, Dividend Payout Ratio, and Net Profit Margin on the Stock Price in Indonesia Stock Exchange

“…These findings follow the Signal Theory that dividend payment information is useful information to influence the stock price. The results of this research are supported by (Bulutoding et al, 2018;Devi et al, 2016;Ermiati et al, 2019;Fauza & Mustanda, 2016;Hakami, 2018;Ningrum, 2017;Nugraha & Sudaryanto, 2016;Salam & Rohaida, 2019;Silalahi & Manik, 2019;Sulistyowati, 2011) that PBV had a significant impact on the stock price.…”

“…Third, the Dividend Payout Ratio (DPR) significantly affects the stock price (Bailia, Tommy, & Baramulli, 2016;Bulutoding, Parmitasari, & Dahlan, 2018;Devi, Mardani, & Salim, 2016;Ermiati, Amanah, Harahap, & Siregar, 2019;Fauza & Mustanda, 2016;Hakami, 2018;Ningrum, 2017;Nugraha & Sudaryanto, 2016;Salam & Rohaida, 2019;Silalahi & Manik, 2019;Sulistyowati, 2011). However, it is different from the research results the DPR has no significant effect on the stock price (Bailia et al, 2016;Girsang et al, 2019;Hanryono, Riwoe, & Setiawan, 2017).…”

“…Information published as an announcement will provide a signal for investors in investment decision-making. If the announcement contains a positive value, it is expected that the market will react at the time the announcement is received by the market (Novalia & Nindito, 2016). If the financial information has a good rating, then the investor's information is good news so that the investor is interested in trading shares and leads to changes in the share price.…”

Pengaruh Kandungan Informasi Arus Kas, Dividend Payout Ratio Dan Economic Valued Added Terhadap Volume Perdagangan Saham Dengan Size Dan Growth Sebagai Variabel Kontrol

“…Informasi yang diungkapkan dan disediakan dalam laporan keuangan tahunan dapat berupa informasi akuntansi yang menyediakan informasi yang memiliki kaitan dengan laporan keuangan dan informasi non-akuntansi yaitu informasi yang tidak memiliki kaitan dengan laporan keuangan. Dalam laporan tahunan seharusnya terdapat informasi yang relevan serta mengungkapkan informasi yang dianggap atau dipandang penting untuk diketahui oleh pengguna laporan baik bagi pihak dalam maupun bagi pihak luar (Novalia et al, 2016).…”

“…Dalam hubungan keagenan manajer memiliki asimetris informasi terhadap pihak eksternal atau luar perusahaan, seperti investor dan kreditur, hal ini sebagai akibat dari manajer sebagai pihak yang memiliki akses dan kewenangan langsung terhadap informasi yang ada dalam perusahaan, (Novalia et al, 2016). Teori Agensi dapat diterapkan pada kegiatan operasional perusahaan contohnya seperti strategi akuisisi dan diversivikasi, pembiayaan, pemberian kompensasi, struktur keprincipalan, hubungan dewan direksi dan inovasi (Ang et al, 2000 ;Barnea et al, 1985 ;Bergen et al, 1992) dalam (Kurniawansyah & Kurnianto, 2018).…”