The Effect of Profit Management, Change Dividend, and Tax Avoidance Against Stock Returns with Good Corporate Governance as a Moderating Variable in Manufacturing Companies Registered on the Stock Exchange Period 2011-2015

Main Article Content

Intan Novia Astuti

Abstract

The objective of the research was to find out and analyze the influence of profit management, dividend change and tax avoidance on stock return with institutional ownership as the moderating variable. This is causal associative research using quantitative data. This research used secondary data sourced from site www.idx.co.id, particularly the annual report of companies in 2011, 2012, 2013, 2014, and 2015. The population was all manufacturing companies listed on the Indonesian Stock Exchange in the period from 2011 until 2015 i.e. 49 companies. The whole population with observation years from 2011 until 2015 was taken as the samples; thus, there were 245 observations in the research. The data analysis employed multiple linear regression model, residual testing and classic assumption testing consisting of normality, multicollinearity, heteroscedasticity and autocorrelation testing. The results of the research demonstrated that (1) simultaneously profit management, dividend change, and tax avoidance had an influence of stock return; partially only dividend change had an influence on stock return while profit management and tax avoidance did not have any influence on stock return; (2) that institutional ownership could not moderate the influence of profit management on stock return, that institutional could not moderate the influence of dividend change on stock return, and institutional ownership could not moderate the influence of tax avoidance on stock return.

Downloads

Download data is not yet available.

Article Details

How to Cite
Astuti, I. N. (2019). The Effect of Profit Management, Change Dividend, and Tax Avoidance Against Stock Returns with Good Corporate Governance as a Moderating Variable in Manufacturing Companies Registered on the Stock Exchange Period 2011-2015. Jurnal EMT KITA, 3(1), 1–6. https://doi.org/10.35870/emt.v3i1.70
Section
Articles
Author Biography

Intan Novia Astuti, Sekolah Tinggi Ilmu Ekonomi Sabang (STIES) Banda Aceh

Sekolah Tinggi Ilmu Ekonomi Sabang (STIES) Banda Aceh

References

Cahyonowati, Nur. (2014). “Pengaruh Tax avoidance Jangka Panjang terhadap Nilai Perusahaan dengan Kepemilikkan Institusional sebagai variabel pemoderasiâ€. Diponegoro Journal Of Accounting, 3, No.3, 1-13.

Fahmi, I. (2012). Pengantar pasar modal: panduan bagi para akademisi dan praktisi bisnis dalam memahami pasar modal Indonesia. Penerbit Alfabeta.

Fahmi I. 2014. Pengantar Manajemen Keuangan (Teori dan Soal Jawab). Bandung (ID): Alfabeta.

Hanlon, M., & Slemrod, J. (2009). What does tax aggressiveness signal? Evidence from stock price reactions to news about tax shelter involvement. Journal of Public Economics, 93(1-2), 126-141.

Iranto P. 2014. Pengaruh konvergensi international financial reporting standard (IFRS) terhadap manajemen laba akrual dan riil (studi empiris pada perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia pada tahun 2009 dan 2012). Semarang Universitas Diponegoro.

Munawir, M. (2018). Analisis Penilaian Kinerja Terhadap Rasionalitas Dosen pada 114 Perguruan Tinggi Swasta (PTS) Wilayah Kopertis XIII Provinsi Aceh dengan Metode Technique for Order Preference by Similarity to Ideal Solution (TOPSIS). Jurnal JTIK (Jurnal Teknologi Informasi dan Komunikasi), 2(1), 20-33.

Mukhtar, M., & Munawir, M. (2018). Aplikasi Decision Support System (DSS) dengan Metode Fuzzy Multiple Attribute Decission Making (FMADM) Studi Kasus: AMIK Indonesia Dan STMIK Indonesia. Jurnal JTIK (Jurnal Teknologi Informasi dan Komunikasi), 2(1), 57-70.

Purnomo, B. S., & Pratiwi, P. (2009). Pengaruh Earning Power Terhadap Praktek Manajemen Laba (Earning Management). Jurnal Media Ekonomi, 14(1), 1-13.

Subramanyam, K.R. & John, J.Wild. (2013). Analisis Laporan Keuangan. Salemba Empat. Jakarta.

AlTroudi, W., & Milhem, M. (2013). Cash dividends, retained earnings and stock prices: Evidence from Jordan. Interdisciplinary Journal of contemporary research in Business, 4(12), 585-599.

Uswati, L., & Mayangsari, S. (2018). Pengaruh Manajemen Laba terhadap Future Stock Return dengan Asimetri Informasi sebagai Variabel Moderating. EKUITAS (Jurnal Ekonomi dan Keuangan), 20(2), 242-259.

Wahab, N. S. A., & Holland, K. (2012). Tax planning, corporate governance and equity value. The British Accounting Review, 44(2), 111-124.