Analisis Peran Moderasi Siklus Hidup Perusahaan dalam Hubungan antara R&D Expenditures terhadap Performa Masa Depan Perusahaan dan Earnings Uncertainty pada Perusahaan Sub Sektor Farmasi di Bursa Efek Indonesia

Abstract

The purpose of this research was to analyze the effect of Firm Life Cycle as a Moderating Variable on the relationship between R&D Expenditures, Future Performance, and Earnings Uncertainty in Pharmacy Sub Sector Listed Companies on the Indonesia Stock Exchange Period 2014-2019. The type of the research is associative research and using quantitative data obtained from the annual reports of the companies in question on Indonesia Stock Exchange and their own company websites. The population of this research are companies listed in Pharmacy Sub Sector on Indonesia Stock Exchange for 2014-2019 period and booked Research and Development expenses in their Financial Statement. Sample in this research amounted to 7 companies using purposive sampling technique. This research used panel data multiple linear regression The result of this research shows that R&D Expenditure has positive and significant effect on Future Performances and also has negative and significant effect towards Earnings Uncertainty. Firm Life Cycle also successfully moderating the relationship between R&D Expenditures on both Future Performances and Earnings Uncertainty.