FINANCIAL PERFORMANCE AND FIRM VALUE: DOES INTERNET FINANCIAL REPORTING MODERATE THE RELATIONSHIP IN INDONESIAN MANUFACTURING COMPANIES?
Abstract
Good financial performance of the company is the primary consideration by investors in making investment
decisions.
Improved financial performance is expected to increase
the firm
value, so that the higher
financial performance, the higher the firm value. The firm value for investors and creditors are very important
and they are increasingly selective in investing or providing credit to the
company.Therefore accurate information about the condition of the company is needed, one of them by Internet Financial
Reporting (IFR). The
disclosure of financial information in the IFR will give
a good or bad signal to investors, so that investors are
interested and believe to invest their fortune to the
company. The purpose of this study was to analyze the effect of the financial
performance on
firm value moderated by Internet Financial Reporting (IFR.). The
populations were the entire manufacturing companies listed in Indonesia Stock
Exchange in 2014-2015. The sampling technique used purposive sampling and
selected 92 companies. The data were analyzed using descriptive statistical
analysis and Structural Equation Modeling using Partial Least Squares (PLS-SEM). The results showed that IFR capable of strengthening the effect of financial performance on firm value. When the company use IFR to transfer positive signal to the
investors, and they responded positively by invest into the company, so the
effect of financial performance on firm value becomes stronger. The results of this study indicated that IFR in Indonesia has able to provide the benefits in transferring the company's positive signal
to investors.
Further research can use different types
of company due to obtain a more real description.
References
- Agustina, Linda. (2008). Pengaruh Karakteristik Perusahaan terhadap Luas Pengungkapan Informasi Keuangan pada Website Perusahaan. Jurnal Dinamika Akuntansi Vol 1, N0. 2, September 2009, pp. 133-144. Almilia, L.S. (2008). Faktor-Faktor Yang Mempengaruhi Pengungkapan Sukarela Internet Financial And Sustainability Reporting. Jurnal Akuntansi dan Auditing Indonesia, Vol. 12, No. 2, Desember 2008. Andri, Rachmawati dan Hanung Triatmoko. (2007). Analisis faktor - faktor yang mempengaruhi kualitas Laba dan Nilai Perusahaan, SNA X Makasar, Hal 1-26. Craven, B.M. and C.L. Marston.(1999). Financial Reporting on the Internet by Leading UK Companies. The European Accounting Review. Vol. 8. Iss. 2. pp:.321 – 333. Fitriana, Meinar Rakhma. (2009). Analisis Pengaruh Kompetisi dan Karaktristik perusahaan terhadap Luas Pengungkapan Informasi Keuangan dalam website Perusahaan. Skripsi Tidak Dipublikasikan , Program Sarjana Fakultas Ekonomi Universitas Diponegoro. Ganto. (2008). Pengaruh Kinerja Keuangan Perusahaan Terhadap Return Saham di Bursa Efek Indonesia. Media Riset Akuntansi, Auditing, dan Informasi. 8(1): 85-96. Jensen, Michael C. and Meckling, William H. (1976). Theory of The Firm: Managerial Behaviour, Agency Cost and Ownership Structure. Journal of Fiancial Economics 3 (1976) 305-360. Kusumawardani, Arum. (2011). Analisis Faktor-Faktor yang Mempengaruhi Pelaporan Keuangan Melalui Internet (Internet Financial Reporting) dalam Website Perusahaan. Skripsi. Semarang: Universitas Diponegoro. Mahendra, Alfredo.(2011). Pengaruh Kinerja Keuangan terhadap Nilai Perusahaan (kebijakan Dividen Sebagai Variabel Moderating) Pada Perusahaan Manufaktur Di BEI. Universitas Udayana. Oyelere, P. B., F. Laswad, dan R. Fisher. (2003). Corporate Financ ial Repor tin g: Firms Characteristic and the Use of Internet as a Medium of Communication. Commerce Divisio n Disc usion Paper. 2003 Puspitaningrum, Ayu dan Prastiwi, Arum. (2012). Pengaruh Karakteristik Perusahaan terhadap Pengungkapan Internet Financial and Sustainability Reporting (IFSR)(Stud pada Perusahaan yang Terdaftar di Bursa Efek Indonesia). Jurnal Ilmiah Mahasiswa FEB 1.2 (2012). Putri, Deasy R. (2013). Analisis Faktor-faktor yang Mempengaruhi Indeks Pelaporan Keuangan Melalui Internet. Jurnal Reviu Akuntansi dan Keuangan. ISSN: 2088-0685 Vol. 3 No.1, April 2013 pp 383-390. Rahayu, Sri. (2010). Pengaruh Kinerja Keuangan Terhadap Nilai Perusahaan Dengan Pengungkapan Corporate Social Respocibility dan Good Corporate Governance Sebagai Variabel Pemoderasi. Universitas Diponegoro, Semarang. Tedjo, Pauline P. (2012). Peranan Leverage Keuangan, Ukuran, Profitabilitas, dan Tipe Kepemilikan Perusahaan terhadap Pengungkapan Sukarela Perusahaan dalam Media Internet. Berkah Ilmiah Mahasiswa Akuntansi Wardoyo dan Theodora Martina Veronica.(2013). Pengaruh Kinerja Keuangan, Good Corporate Governance dan Corporate Social Responsibility terhadap Nilai Perusahaan. Jurnal Dinamika Manajemen Vol. 4, No. 2, 2013, pp: 132-149 Wolk et al. (2000). Accounting Theory: A Conceptual Institutional Aproach Fifth Edition. South Western College Publishing.
Abstract
References
- Agustina, Linda. (2008). Pengaruh Karakteristik Perusahaan terhadap Luas Pengungkapan Informasi Keuangan pada Website Perusahaan. Jurnal Dinamika Akuntansi Vol 1, N0. 2, September 2009, pp. 133-144. Almilia, L.S. (2008). Faktor-Faktor Yang Mempengaruhi Pengungkapan Sukarela Internet Financial And Sustainability Reporting. Jurnal Akuntansi dan Auditing Indonesia, Vol. 12, No. 2, Desember 2008. Andri, Rachmawati dan Hanung Triatmoko. (2007). Analisis faktor - faktor yang mempengaruhi kualitas Laba dan Nilai Perusahaan, SNA X Makasar, Hal 1-26. Craven, B.M. and C.L. Marston.(1999). Financial Reporting on the Internet by Leading UK Companies. The European Accounting Review. Vol. 8. Iss. 2. pp:.321 – 333. Fitriana, Meinar Rakhma. (2009). Analisis Pengaruh Kompetisi dan Karaktristik perusahaan terhadap Luas Pengungkapan Informasi Keuangan dalam website Perusahaan. Skripsi Tidak Dipublikasikan , Program Sarjana Fakultas Ekonomi Universitas Diponegoro. Ganto. (2008). Pengaruh Kinerja Keuangan Perusahaan Terhadap Return Saham di Bursa Efek Indonesia. Media Riset Akuntansi, Auditing, dan Informasi. 8(1): 85-96. Jensen, Michael C. and Meckling, William H. (1976). Theory of The Firm: Managerial Behaviour, Agency Cost and Ownership Structure. Journal of Fiancial Economics 3 (1976) 305-360. Kusumawardani, Arum. (2011). Analisis Faktor-Faktor yang Mempengaruhi Pelaporan Keuangan Melalui Internet (Internet Financial Reporting) dalam Website Perusahaan. Skripsi. Semarang: Universitas Diponegoro. Mahendra, Alfredo.(2011). Pengaruh Kinerja Keuangan terhadap Nilai Perusahaan (kebijakan Dividen Sebagai Variabel Moderating) Pada Perusahaan Manufaktur Di BEI. Universitas Udayana. Oyelere, P. B., F. Laswad, dan R. Fisher. (2003). Corporate Financ ial Repor tin g: Firms Characteristic and the Use of Internet as a Medium of Communication. Commerce Divisio n Disc usion Paper. 2003 Puspitaningrum, Ayu dan Prastiwi, Arum. (2012). Pengaruh Karakteristik Perusahaan terhadap Pengungkapan Internet Financial and Sustainability Reporting (IFSR)(Stud pada Perusahaan yang Terdaftar di Bursa Efek Indonesia). Jurnal Ilmiah Mahasiswa FEB 1.2 (2012). Putri, Deasy R. (2013). Analisis Faktor-faktor yang Mempengaruhi Indeks Pelaporan Keuangan Melalui Internet. Jurnal Reviu Akuntansi dan Keuangan. ISSN: 2088-0685 Vol. 3 No.1, April 2013 pp 383-390. Rahayu, Sri. (2010). Pengaruh Kinerja Keuangan Terhadap Nilai Perusahaan Dengan Pengungkapan Corporate Social Respocibility dan Good Corporate Governance Sebagai Variabel Pemoderasi. Universitas Diponegoro, Semarang. Tedjo, Pauline P. (2012). Peranan Leverage Keuangan, Ukuran, Profitabilitas, dan Tipe Kepemilikan Perusahaan terhadap Pengungkapan Sukarela Perusahaan dalam Media Internet. Berkah Ilmiah Mahasiswa Akuntansi Wardoyo dan Theodora Martina Veronica.(2013). Pengaruh Kinerja Keuangan, Good Corporate Governance dan Corporate Social Responsibility terhadap Nilai Perusahaan. Jurnal Dinamika Manajemen Vol. 4, No. 2, 2013, pp: 132-149 Wolk et al. (2000). Accounting Theory: A Conceptual Institutional Aproach Fifth Edition. South Western College Publishing.
Details
| Journal Section | Articles |
|---|---|
| Authors | |
| Publication Date | April 30, 2017 |
| Submission Date | April 28, 2017 |
| Published in Issue | Year 2017Volume: 3 Issue: 7 |
Cited By
Applying data mining techniques to predict the market performance of publicly traded companies
International Journal of ADVANCED AND APPLIED SCIENCES
https://doi.org/10.21833/ijaas.2023.07.003
Contact: ijasosjournal@hotmail.com
The IJASOS Journal's site and its metadata are licensed under CC BY
Published and Sponsored by OCERINT International © 2015- 2024