ABSTRAK
Penelitian ini bertujuan untuk meneliti pengaruh Firm Size, Leverage dan
Profitability terhadap Earnings Response Coefficient (ERC) dengan Voluntary
Disclosure sebagai variabel intervening pada perusahaan non keuangan yang
terdaftar di Bursa Efek Indonesia tahun 2010 hingga tahun 2013. Pengambilan sampel menggunakan metode purposive sampling, diperoleh perusahaan sampel sebanyak 146 perusahaan dari populasi 429 perusahaan dengan total observasi 584 unit analisis. Metode pengumpulan data teknik dokumentasi data sekunder berupa laporan keuangan dan laporan tahunan yang dipublikasikan melalui
website
gabungan. Metode analisis data melalui regresi linear berganda dan PATH analysis. Hasil penelitian ini menunjukkan bahwa firm size, leverage, profitability,
dan voluntary disclosure secara simultan berpengaruh signifikan terhadap
Earnings Response Coefficient pada perusahaan non keuangan yang terdaftar di Bursa Efek Indonesia tahun 2010-2013. Firm size, profitability dan voluntary disclosure secara parsialberpengaruh positif signifikan terhadap ERC, sedangkan variabel leverage berpengaruh negatif signifikan terhadap ERC. Hasil pengujian secara parsial firm size dan leverage berpengaruh positif signifikan terhadap
voluntary disclosure, namun variabel profitability berpengaruh tidak signifikan terhadap voluntary disclosure. Pengaruh langsung variabel firm size, leverage dan
profitability terhadap ERC, lebih besar dari pengaruh tidak langsung dan nilai t hitung uji Sobel lebih kecil dari t tabel untuk masing-masing variabel independen. Hasil uji hipotesis menyatakan bahwa secara tidak langsung firm size, leverage
dan profitability tidak berpengaruh signifikan terhadap Earnings Response Coefficient melalui voluntary disclosure sebagai variabel intervening.
ABSTRACT
The objective of to analyze the influence of Firm Size, Leverage, and Profitability on Earnings Response Coefficient (ERC) with Voluntary Disclosure ass the intervening variable in non-financial companies listed in the Indonesia Stock Exchange ion the period of 2010-2013. The population was 429 companies with the total observation of 584 analytical units, and 146 of them were used as the samples, taken by using purposive sampling technique. The data were gathered by conducting documentary study which consisted of financial statement and annual report publicized through www.idx.co.id, and stock market price and composite stock price index. The data were analyzed by using multiple logistic regression analysis and PATH analysis. The result of the research showed that firm size, leverage, profitability, and voluntary disclosure simultaneously had significant influence on Earnings Response Coefficient in the non-financial companies listed in the Indonesia Stock Exchange in the period of 2010-2013. Partially, firm size, profitability, and voluntary disclosure had positive and significant influence on ERC, while the variables of firm size and leverage had negative but significant influence on ERC. The result of the research, partially, firm size and leverage had positive and significant influence on voluntary disclosure, but the variable of profitability had insignificant influence on voluntary disclosure. The variables of firm size, leverage, and profitability had direct influence on ERC, more than indirect influence and tcount of Sobel test was
smaller than ttable for each independent variable. The result of the hypothesis test
showed that indirectly firm size, leverage, and profitability had insignificant influence on Earnings Response Coefficient through voluntary disclosure as intervening variable.
