Progress Conference Volume 2 Number 2, August 2019| 186
Influence Profitability, Liquidity Against Timeliness of Financial Reporting In Manufacturing Vendor Listed in Indonesia Stock Exchange
Fenny Eka Ellyta Sari1, Wimbo Wiyono2, Agus Salim3 STIE Widya Gama Lumajang, East Java
Abstract
This study aims to find evidence of profitability, liquidity to the timeliness of financial reporting in manufacturing companies listed on the Indonesia Stock Exchange (IDX). The population in this study was taken from manufacturing companies listed on the Indonesia Stock Exchange for the period of 2016-2017 items, namely 147 companies. The method used is a purposive sample method where companies that meet the criteria are 106 companies. The results of this study conclude that profitability has a significant effect on the timeliness of corporate financial reporting, and liquidity does not Affect the timeliness of corporate financial reporting.
Keywords: Profitability, Liquidity, and Timeliness of Financial Reporting.
INTRODUCTION
The development of capital markets in the future to experience rapid growth for the investment business. In the capital market financial statements presented must report that go public. Every publicly traded company is required to always submitted their financial statements in accordance with Financial Accounting Standards have been defined previously, as well as to follow the provisions in force in the capital markets.
Timeliness is an important role in a presentation of information. Information will be much more useful if the information can be memanilisirkan timeliness for decision-makers before. The faster the information in reporting, the faster the information obtained so as to produce the relevant data.
Timeliness in financial reporting has been regulated in Law Number 8 of 1995 states that every company listed in the stock market is obliged to report his report to Bapepam. Bapepam replaced the function of supervisors in charge. Bapepam is the capital market regulatory body which is set in the Act are authorized to organize and revoke the institution for violating regulations.
Compliance with the timely submission of financial statements of public companies in Indonesia have set in the Financial Services Authority regulation number 29 / POJK.04 / 2016 Article 7 concerning submission of an annual report stating that the issuer or public company is required to submit annual reports to the Authority.
According to Samryn (2015: 424)"Profitability is a model in the form of comparative analysis of financial data so that the financial information becomes more meaningful." The better the company generates profit company, the better the level of profitability of the company ".
According Samryn (2015: 416) "Liquidity is a comparison between the total current assets to total current liabilities". Companies that have a high level of liquidity which indicates that the company can meet its short-term liquidity well.
Progress Conference Volume 2 Number 2, August 2019| 187 Several studies have addressed the relationship between variables. However, there are some research there are inconsistencies of these results, which are based on research conducted byAditya
& Muncar (2015), Mellyana & Astuti (2005), Wijayanti (2009), Awalludin & Savitri (2011), Dwiyanti (2010), Utari & Amin (2011), Nasution (2013),
METHODS
The method used in this research is descriptive research with the object of research is the variable profitability, liquidity and timeliness of financial reporting. This study uses secondary data, wherein the type of data used is quantitative data derived from the annual financial statements at companies that were sampled during the study peiode accessed through the websitewww.idx.com, Population taken by researchers that all manufacturing companies listed in Indonesia Stock Exchange in 2016- 2017, amounting to 147 companies, while the samples used were 106 companies taken through purposive sampling technique. The data analysis used multiple linear regression analysis method, before it must first be tested classical assumptions, then test the research hypothesis.
RESEARCH RESULT
Classic assumption test conducted in this study are shown in the table - the table below:
Table 1
Normality Test Results Kolmogorov-
Smirnov Z
Asymp. Sig. (2-
tailed) Alpha (α) Information
.060 1.325 0.05 Normal Data
Source: Data Olah, 2019
Table 1 shows that the value Asymp. Sig. (2-tailed)amounted to 1.325 (> 0.05) so that it can be concluded that the data are expressed in normal distribution and the regression model fit for use.
Based on the scatterplot graph in Figure 1. seemed that the distribution of the data does not form a clear pattern, point - of data points spread above and below the number 0 on the Y axis This indicates that there is no heteroscedasticity in the regression model.
Table 2
Autocorrelation Test Results
N d1 dU 4 - dU Information
106 1.6452 1.7220 2.3548 Not Happen autocorrelation Source: Data Olah, 2019
In Table 2 can be seen the Durbin-Watson test results show that the value d1 of 1.6452 lies between 1,722dan 2.3548 (1.7220 <1.6452 <2.3548) thus concluded that there is no positive or negative autocorrelation in regression models this research.
Table 3
Test Results Multicollinearity
variables tolerance VIF Information
profitability 0.956 1,046 Non Multicollinearity
Liquidity 0.956 1,046 Non Multicollinearity
Dependent variables : Timeliness of Financial Reporting Source: Data Olah, 2019
Progress Conference Volume 2 Number 2, August 2019| 188 Table 3 shows that all independent variables with tolerance values above 0.10 and VIF is less than 10. In this case, it can be concluded that there are no symptoms of multicollinearity in regression models this study.
According to the table and the picture above, we can conclude that this research data passes classical assumption test so that it can proceed to the next stage to be processed in a multiple linear regression analysis.
Results of linear regression analysis to the equation can rgresi diliat in Table 4 as follows:
Table 4
Koefisisien Regression variables
Coefficients unstandardized standardized Coefficients
beta Std. Error beta
Constant .716 0,023
Profitability (X1) -0.033 0,014 -0.234
Liquidity (X2) 0,041 0,029 .140
Dependent Variables: Timeliness of Financial Reporting Source: Data Olah, 2019
Based on Table 4 it can be concluded that the regression equation in this study are:
Y = 0.716 to 0.033 X1 + 0.041 X2
From the results of multiple linear regression equation are known constants of 0.716 means that the profitability (X1), liquidity (X2) value is 0, then the timeliness of financial reporting (Y) value is 0.716.
The regression coefficient profitability variable (X1) of 0.033 means that if another independent variable value is fixed and profitability rose 1%, the timeliness of financial reporting (Y) will be decreased by 0,033. The coefficient is negative it means there is a negative relationship between profitability and timeliness of financial reporting, getting down the profitability of the declining timeliness of financial reporting.
Liquidity variable regression coefficient (X2) of 0.041 means that if another independent variable value and liquidity increased 1%, the timeliness of financial reporting (Y) will increase by 0,041.
The coefficient is positive happen artiya positive relationship between liquidity with the timeliness of financial reporting, the rising liquidity increases the timeliness of financial reporting.
Table 5
Hypothesis Test Results
Independent variables Sig. Alpha (α) Information
profitability 0,018 0.05 Take effect
Liquidity 0.155 0.05 No effect
Dependent variables: Timeliness of Financial Reporting Source: Data Olah, 2019
Progress Conference Volume 2 Number 2, August 2019| 189 Results of testing the first hypothesis stated that profitability affect the timeliness of financial reporting. Under the table 4:14 can be explained that for the variable profitability showed sig at 0.018. This value is smaller than the value of α = 0.05, which means that H0 rejected and H1 accepted. It can be concluded that the profitability affect the timeliness of financial reporting.
Results of testing the hypothesis 2 states that the liquidity effect on the timeliness of financial reporting. Under the table 4:14 can be explained that for liquidity variables show sig of 0.155. The larger value of α = 0.05, which means that H0 and H1 rejected. It can be concluded that liquidity does not affect the timeliness of financial reporting.
Discussion
Based on the research results have been analyzed, then there are things to note about the influence of the timeliness of financial reporting. Here we will discuss some of the results of research is conducted:
Effect of profitability on the timeliness of financial reporting. According to Hery (2015: 226) Profitability ratio is a ratio used to measure a company's ability to generate profits of an enterprise of the business activity.
Test results in the company's profitability, measured by return on assets, shows that the profitability of a significant effect on the timeliness of financial reporting. Results of research on the relationship of the profitability of the timeliness of financial reporting is to support the results of research conducted by Yan Christin and Br. Semburing (2010-2012) shows that profitability affect the timeliness of financial reporting. The underlying reasons of this research that a healthy financial condition will affect the desired result and a positive signal for the company's interests.
These results are consistent with the logic of the theory in which the earnings announcement contains good news tends to be accelerated and the bad news tends to be delayed. This shows that the performance of the company in accordance with what they want the principal to be trusted to manage the company in the long-term period.
Effect of liquidity to the timeliness of financial reporting. According to Hery (2015: 175) Liquidity ratio is a ratio showing the company's ability to meet obligations or pay short-term debt. Test results in the company's liquidity as measured by the Current Ratio, indicates that liquidity does not affect the timeliness of financial reporting. The results of this study are not consistent with research conducted by Yan Christin and Br. Sembiring (2010-2012) which shows that the liquidity effect on the timeliness of financial reporting. This shows that the ratio of current assets to current liabilities greater, meaning the higher the company's ability to cover short-term liabilities, and is good news for companies that tend to timely submission of financial statements.
However, the results of this study obtained results that liquidity does not affect the timeliness of financial reporting. This shows that companies with a high level of liquidity is not always timely submission of financial statements to the Indonesia Stock Exchange and does not necessarily companies with low liquidity level will be late in meyampaikan financial statement to the Indonesia Stock Exchange.
CONCLUSIONS
This study aims to prove that the effect of profitability, liquidity on the timeliness of financial reporting on manufacturing companies listed in Indonesia Stock Exchange (BEI) in 2016- 2017.
Progress Conference Volume 2 Number 2, August 2019| 190 The conclusion that can be drawn from the results of this study as follows Profitability has an influence on the timeliness of financial reporting on manufacturing companies listed in Indonesia Stock Exchange period 2016- 2017. Liquidity has no influence on the timeliness of financial reporting on manufacturing companies listed in Indonesia Stock Exchange period 2016- 2017.
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