PENGARUH MASALAH KEAGENAN ALIRAN KAS BEBAS DAN KOMISARIS INDEPENDEN TERHADAP RELEVANSI NILAI INFORMASI AKUNTANSI

Aulia Fuad Rahman, Rizka Fitriasari

Abstract


Abstract: The effect of Free Cash Flow Agency Problem and Independent Board of Director on Accounting Information Value Relevance. This study assesses the value relevance of earnings and book value and the effect of agency problem caused by FCF. Further, this study also investigates the role of independent board of director on the relationship between FCF agency problem and value relevance of accounting information. Results show that earnings and book value are value relevant and agency problem caused by FCF, reduces the value relevance of earnings. However, FCF agency problem does not have an impact on the value relevance of book value. The independent board of director does not seem to function well as a mitigating role to the negative impact of FCF agency problems.

 

Abstrak: Pengaruh Masalah Keagenan Aliran Kas Bebas dan Komisaris Independen Terhadap Relevansi Nilai Informasi Akuntansi. Penelitian ini mengkaji relevansi nilai earnings dan nilai buku serta pengaruh masalah keagenan yang disebabkan oleh FCF. Lebih lanjut, penelitian ini juga menginvestigasi peran komisaris independen atas hubungan antara masalah keagenan FCF dan relevansi nilai informasi akuntansi.  Hasil menunjukkan bahwa earnings dan nilai buku memiliki relevansi nilai sedangkan masalah keagenan yang disebabkan FCF mengurangi relevansi nilai dari earnings. Walau demikian, masalah keagenan FCF tidak memiliki pengaruh pada relevansi nilai buku.  Komisaris independen tidak secara nyata berfungsi sebagai pemitigasi dalam menangani pengaruh negatif masalah keagenan FCF.


Keywords


value relevance; free cash flow agency problem; independent board of director

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DOI: http://dx.doi.org/10.18202/jamal.2012.04.7141

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