Pengaruh voluntary disclosure terhadap invesment opportunity set (IOS) berbasis investasi, harga, dan varian

WIDAYANTI, Isti, Prof. Dr. Zaki Baridwan, M.Sc

2008 | Tesis | S2 Magister Akuntansi

Penelitian ini bertujuan menguji pengaruh voluntary disclosure terhadap investment opportunity set (IOS) berbasis investasi, harga, dan varian. Hipotesis yang diajukan adalah: (1) Voluntary disclosure berpengaruh secara positif pada Investment Opportunity Set (IOS) berbasis investasi; (2) Voluntary disclosure berpengaruh secara positif pada Investment Opportunity Set (IOS) berbasis harga; (3) Voluntary disclosure berpengaruh secara positif pada Investment Opportunity Set (IOS) berbasis varian. Sampel adalah perusahaan manufaktur yang terdaftar di BEJ sejak tahun 2002 sampai 2007dan dipilih menggunakan metode purposive sampling. Perusahaan yang terpilih sebagai sampel berjumlah 68 perusahaan. Metode statistik yang digunakan adalah ordinary least square regression. Hasil penelitian menunjukkan bahwa terdapat pengaruh yang signifikan antara voluntary disclosure terhadap investment opportunity set berbasis investasi, harga, dan varian.

The aimed of this study was to examine the influence of voluntary disclosures toward investment opportunity sets. Voluntary disclosure practice used by the management to reduce asymmetry information and cost of capital. Dependent variables are measures of investmet opportunity based investment, price, and variance. The study was using 68 companies listed in Jakarta Stock Exchange, with a period between 2003-2007. The hypothesis was tested using ordinary least square regression. The first hypothesis was used to examines the influence of voluntary disclosure toward investment opportunity set based investment. The second hypothesis was used to examine the influence of voluntary disclosure toward investment opportunity set based price. The Tirth hypothesis was used to examine the influence of voluntary disclosure toward investment opportunity set based variance. The result of this study showed that voluntary disclosure have significant influence to investment opportunity sets proxy based on investment, price, and variance.

Kata Kunci : Voluntary disclosure,Investment opportunity sets,Asymmetry information,Cost of Capital, voluntary disclosure, investment opportunity sets, asymmetry information, cost of capital.