CORPORATE GOVERNANCE AS A MODERATING VARIABLE INFLUENCE OF STOCK TURNOVER, EXTENSIBLE BUSINESS REPORTING LANGUAGE AND AUDIT QUALITY ON INFORMATION ASYMETRIES

Arthur Simanjuntak, Christina Verawaty Situmorang, Duma Megaria Elisabeth, Mitha Christina Ginting, Lamria Sagala

Abstract


The purpose of this study was to determine the role of corporate governance as a moderating variable effect of stock turnover, extensible business reporting language and audit quality on information asymmetry. The population of this research is all companies in the retail sector that are listed on the IDX for the 2019-2021 period, totaling 25 companies. The sample of this study adopted a purposive sampling method, so that the samples taken were 11 companies. The analysis technique used in this research is panel data regression analysis and moderation test. The results showed that stock turnover and extensible business reporting language had a significant positive effect on information asymmetry. On the other hand, audit quality has no significant effect on information asymmetry. Simultaneously, stock turnover, extensible business reporting language, and audit quality have a significant effect on information asymmetry. The role of corporate governance can strengthen the effect of stock turnover on information asymmetry. The role of corporate governance can weaken the extensible business reporting language against information asymmetry. Meanwhile, the role of corporate governance is not able to moderate audit quality on information asymmetry.

Keywords: Stock Turnover, Extensible Business Reporting Language, Audit Quality, Information Asymmetry, Corporate Governance.


Full Text:

PDF

References


Abad, D., Lucas-Pérez, M. E., Minguez-Vera, A., & Yagüe, J. (2017). Does gender diversity on corporate boards reduce information asymmetry in equity markets? BRQ Business Research Quarterly, 20(3), 192–205. https://doi.org/10.1016/j.brq.2017.04.001

Afridah, N., & Yanto, H. (2015). Determinan Asimetri Informasi di Seputar Pengumuman Laporan Keuangan Tahunan. Accounting Analysis Journal, 4(2), 1–6. http://journal.unnes.ac.id/sju/index.php/aaj

Alles, M., & Piechocki, M. (2012). Will XBRL improve corporate governance? A framework for enhancing governance decision making using interactive data. International Journal of Accounting Information Systems, 13(2), 91–108. https://doi.org/10.1016/j.accinf.2010.09.008

Choi, Frederick D. S. Dan Gary K. Meek. 2010. International Accounting. Jakarta: Salemba Empat

Christiani, I., & Nugrahanti, Y. W. (2014). Pengaruh Kualitas Audit Terhadap Manajemen Laba. Jurnal Akuntansi Dan Keuangan, 16(1), 52–62. https://doi.org/10.9744/jak.16.1.52-62

Cormier, D., Dufour, D., Luu, P., Teller, P., & Teller, R. (2018). The Relevance of XBRL Voluntary Disclosure for Stock Market Valuation: The Role of Corporate Governance. Canadian Journal of Administrative Sciences, 36(1), 113–127. https://doi.org/10.1002/cjas.1483

Geiger, M. A., North, D. S., & Selby, D. D. (2014). Releasing information in XBRL: Does it improve information asymmetry for early U. S. Adopters? Academy of Accounting and Financial Studies Journal, 18(4), 66–83. http://scholarship.richmond.edu/cgi/viewcontent.cgi?article=1032&context=accounting-faculty-publications

Haß, L. H., Vergauwe, S., & Zhang, Q. (2014). Corporate governance and the information environment: Evidence from Chinese stock markets. International Review of Financial Analysis, 36(C), 106–119. https://doi.org/10.1016/j.irfa.2014.03.010

Hartono Jogiyanto. (2010). Teori Portofolio dan Analisis Investasi. Edisi Ketujuh. BPFE: Yogyakarta.

Li, X., & Yang, H. I. (2016). Mandatory financial reporting and voluntary disclosure: The effect of mandatory IFRS adoption on management forecasts. Accounting Review, 91(3), 933–953. https://doi.org/10.2308/accr-51296

Liu, C., Wang, T., & Yao, L. J. (2014). XBRL’s impact on analyst forecast behavior: An empirical study. Journal of Accounting and Public Policy, 33(1), 69–82. https://doi.org/10.1016/j.jaccpubpol.2013.10.004

Mahardika, S. A., & Harahap, S. N. (2018). Analisis Pengaruh Adopsi Xbrl Terhadap Asimetri Informasi Dengan Corporate Governance Sebagai Pemoderasi (Analysis of Xbrl Adoption’S Impact on Information Asymmetry, With Corporate Governance As Moderating Variable). Jurnal Akuntansi Dan Keuangan Indonesia, 15(2), 217–236. https://doi.org/10.21002/jaki.2018.12

Rusmin, R. (2010). Auditor quality and earnings management: Singaporean evidence. Managerial Auditing Journal, 25(7), 618–638. https://doi.org/10.1108/02686901011061324

Scott, R. Wiliam.(2015). Financial Accounting Theory Seventh Edition.United States :Pearson. Canada Inc.

Simanjuntak, A., Situmorang, C. V., & Elisabeth, D. M. (2020). Peran Partisipasi Masyarakat, Akuntabilitas, Dan Transparansi Dalam Mewujudkan Good Governance Terhadap Pembangunan Desa. Jurnal Ilmu Keuangan Dan Perbankan (JIKA), 9(2), 131–142. https://doi.org/10.34010/jika.v9i2.2985

Situmorang, C. V., & Simanjuntak, A. (2019). Pengaruh Good Corporate Governance Terhadap Kinerja Keuangan Perusahaan Perbankan Yang Terdaftar Di Bursa Efek Indonesia. JURNAL AKUNTANSI DAN BISNIS : Jurnal Program Studi Akuntansi, 5(2), 160. https://doi.org/10.31289/jab.v5i2.2694

Situmorang, C. V., & Simanjuntak, A. (2021). Pengaruh Strategic Management Accounting dalam Memediasi Pengaruh Orientasi Pasar, dan Kualitas Pimpinan terhadap Kinerja Keuangan. JURNAL AKUNTANSI DAN BISNIS : Jurnal Program Studi Akuntansi, 7(2), 100–108. https://doi.org/10.31289/jab.v7i2.4312

Tandiontong, Mathius. (2016). Kualitas Audit dan Pengukurannya. Bandung: Alfabeta.

Tangngisalu, J., & Jumady, E. (2020). Good Corporate Governance Sebagai Pemoderasi: Hubungan Asimetri Informasi Terhadap Manajemen Laba Pada Perusahaan Lq 45. JMBI UNSRAT (Jurnal Ilmiah Manajemen Bisnis Dan Inovasi Universitas Sam Ratulangi)., 7(1), 81–91. https://doi.org/10.35794/jmbi.v7i1.28373

Tessema, A. (2020). Audit quality, political connections and information asymmetry: evidence from banks in gulf co-operation council countries. International Journal of Managerial Finance, 16(5), 673–698. https://doi.org/10.1108/IJMF-01-2020-0027

Wijaya, K. N., Putu Eka Widiastuti, N., & Pembangunan Nasional Veteran Jakarta, U. (2020). Pengaruh Extensible Business Reporting Language (XBRL), Ukuran Perusahaan dan Leverage Terhadap Kualitas Informasi. PROSIDING BIEMA Business Management, Economic, and Accounting National Seminar, 1, 1043–1058. https://conference.upnvj.ac.id/index.php/biema/article/view/955/559

Yi F, T., L, F., C, S.-H., & C, K.-L. (2016). Does XBRL Adoption Imporve Information Asymmetry? Evidence from Taiwan Public Companies. Journal of Global Economics, 04(01), 1–11. https://doi.org/10.4172/2375-4389.1000172

Yoon, H., Zo, H., & Ciganek, A. P. (2011). Does XBRL adoption reduce information asymmetry? Journal of Business Research, 64(2), 157–163. https://doi.org/10.1016/j.jbusres.2010.01.008




DOI: https://doi.org/10.37403/financial.v9i1.493

Refbacks

  • There are currently no refbacks.


Copyright (c) 2023 FINANCIAL: JURNAL AKUNTANSI

Financial: Jurnal Akuntansi is indexed by:

  

PUBLISHER:

Program Studi Akuntansi, Sekolah Tinggi Ilmu Ekonomi Sultan Agung
Jalan Surabaya No 19, Telp (0622) 25626, Fax (0622) 21432
Pematangsiantar 21118 – Sumatera Utara, Indonesia
email: financial@stiesultanagung.ac.id

OAlogo

 Creative Commons License

Financial: Jurnal Akuntansi by STIE Sultan Agung is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.