KEPEMILIKAN INSTITUSIONAL DAN KUALITAS AUDIT TERHADAP PENGUNGKAPAN INFORMASI DAN FUTURE EARNINGS RESPONSE COEFFICIENT
Fakultas Ekonomi Universitas Trisakti
Jl. Kyai Tapa No.1 Grogol-Jakarta Barat, 11440, Indonesia.
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The objectives of this research were to analyze the direct effects of institutional ownership and audit quality towards future earnings response coefficient, as well as their indirect effects towards future earnings response coefficient through disclosure as intervening variable. This research used secondary data from manufacturing companies listed in Indonesia Stock Exchange (IDX) between 2002-2011. The number of samples used in this research were 111companies. The method used in this research was Structure Equation Model (SEM) processed using AMOS 6. The results of this research demonstrated that institutional ownership and disclosure had positive significant effect while audit quality had negative significant effects towards future earnings response coefficient. On the other hand, institutional ownership had positive significant effect while audit quality had negative significant effects towards disclosure. Further testing proved that indirect effect was very weak. Control variable which had positive significant effect was profitability towards disclosure while leverage and long term investment had negative significant towards future earnings response coefficient. Liquidity variables were proven that they had no effect towards disclosure.
Key words: audit quality, disclosure, future earnings response coefficient (FERC), institutional ownership