i ABSTRAK
PENGARUH FREE CASH FLOW, STRUKTUR KEPEMILIKAN, DAN LEVERAGE TERHADAP EARNINGS MANAGEMENT PADA
PERUSAHAAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA
PERIODE 2010-2014
Penelitian ini bertujuan untuk meneliti dan memperoleh bukti empiris pengaruh free cash flow, kepemilikan manajerial, kepemilikan institusional, dan leverage terhadap manajemen laba pada perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia. Manajemen laba diukur dengan discretionary accruals menggunakan Modified Jones Model. Populasi pada penelitian ini adalah 142 perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia periode 2010-2014. Berdasarkan beberapa kriteria, sampel yang diperoleh sebanyak 21 perusahaan. Metode analisis yang digunakan adalah metode analisis regresi berganda dengan Eviews.
Hasil penelitian ini menunjukkan bahwa struktur kepemilikan manajerial berpengaruh negatif signifikan terhadap manajemen laba. Free cash flow, struktur kepemilikan institusional, dan leverage tidak berpengaruh secara signifikan terhadap manajemen laba.
Kata kunci: Manajemen Laba, Free Cash Flow, Kepemilikan Manajerial, Kepemilikan Institusional, Leverage.
ii ABSTRACT
THE EFFECT OF FREE CASH FLOW, OWNERSHIP STRUCTURE, AND LEVERAGE ON EARNINGS MANAGEMENT OF
MANUFACTURING SECTOR COMPANIES LISTED IN INDONESIAN STOCK EXCHANGE
PERIOD 2010-2014
This research aims to analyze the effect of free cash flow, ownership structure, and leverage on earnings management of manufacturing sector companies listed in Indonesian Stock Exchange. Earnings management is measured by discretionary accruals using the Modified Jones Model. The population in this research are 142 companies listed in Indonesia Stock Exchange in 2010-2014. Based on a few criteria, the sample is obtained as many as 21 companies. The analytical method used is multiple regression analysis with Eviews program.
The result of this research indicate that the structure of managerial ownership has a negative effect and significantly on earnings management. Free cash flow, the structure of institutional ownership, and leverage didn’t have significant effect on earnings management.
Keywords: Earnings Management, Managerial Ownership, Institutional Ownership, and Leverage.
