PENGARUH PENGUNGKAPAN SUKARELA MELALUI WEB SITE TERHADAP NILAI PERUSAHAAN PADA PERUSAHAAN YANG TERDAFTAR DI BURSA EFEK JAKARTA
ABSTRACT: The objective of
this study is to investigate empirically whether the disclosure of financial
information through the web site has positive effect on the value of the firm.
In this study, the sample consists of 107 firms which are listed in the Jakarta
Stock Exchange in 2005. The independent variable which is used to measure the
level of web site voluntary disclosure is the web site voluntary disclosure
index and the dependent variable which is used to measure the value of the firm
is Tobin’s Q Ratio. This study uses four control variables, which are size,
liquidity, profitability, and leverage of the firms. The study’s findings
revealed that the value of the firm is positively and significantly affected by
the web site voluntary disclosure. Then, the effect of voluntary disclosure not
through the web site on the firm value is different compared to the effect of
voluntary disclosure not through the web site on the firm value. Finally, this
study also provides evidence that the value of the firm which discloses of
financial information through the web site is higher than the value of the firm
which discloses of financial information not through the web site.
Keywords: The value of the
firm, Tobin’s Q Ratio, and web site voluntary disclosure
Penulis: Wahid Afifurrahman, Dody
Hapsoro
Kode Jurnal: jpmanajemendd080033
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