PENGARUH KUALITAS LABA PADA YIELDS OBLIGASI DENGAN CORPORATE GOVERNANCE SEBAGAI VARIABEL PEMODERASI
ABSTRACT: The objective of
this research is to study the effect of earnings quality to bond yields, and
whether the effect of earnings quality to bond yields can be moderated by
corporate governance. In this paper, earnings quality was proxied by
discretionary accruals. Yield to maturity approximation was used to count the
bond yields. The proxies of corporate governance are institutional ownership
and outside director. This research is using purposive sampling method to
choose the sample. From six years observation period, 153 observation bonds
obtained. To test the hypothesis, this research using logistic regression. This
research indicated that model of logistic regression is fit, although the
result for hypothesis examination not significant. The lowest Nagelkerke’s R2
value indicated that other variables which not include in this research may
have contribution for the research model. Result of this research could be
happened because of the naive behavior from investor it-self, the
characteristic of bond market, less familiarity of corporate governance
regulation, or may be from the lack of variable used in the research model.
Keywords: Earnings quality,
bond yields, corporate governance, institutional ownership and outside director
Penulis: ELIADA HERWIYANTI dan ZAKI BARIDWAN
Kode Jurnal: jpakuntansidd080027
