PENGUNGKAPAN NON FINANCIAL MEASURES: PENILAIAN VALUE RELEVANCE BAGI INVESTOR DAN PENGARUHNYA TERHADAP COST OF EQUITY DAN PERFORMANCE BAGI PERUSAHAAN PUBLIK
ABSTRACT: Research has called
for increased demand of non-financial measures (NFM) disclosure. This research
examines the association between firm characteristics and the extent of NFM
disclosure. Furthermore, we investigate the value relevance of NFM disclosure and
its effects to cost of equity and firms performance. The results of this
research are: (1) firm strategy (prospector/ defender), regulatory factors,
firms ’ age and foreign ownership are significantly positively associated with
the level of NFM disclosure (2) NFM disclosure is a good signal for investors,
which is relevant for earning persistency valuation. (3) the level of NFM
disclosure is significantly negatively associated with cost of equity (4) the
level of NFM disclosure is significantly positively associated with firm
performance.
Penulis: Ludovicus Sensi
Wondabio
Kode Jurnal: jpakuntansidd070042
