Pengaruh Likuiditas, Leverage, Profitabilitas, Growth Opportunities, Firm Size, dan Pertumbuhan Laba terhadap Earning Response Coefficient dengan Kepemilikan Instutisional sebagai Variabel Moderasi (Studi Kasus pada Perusahaan Manufaktur Sub Sektor Makanan dan Minuman yang Terdaftar di Bursa Efek Indonesia Tahun 2016-2020)

Abstract

Globalization that occurs in the economic field results in controlled free competition meaning it is free but within the limits of WTO (World Trade Organization) regulations including in the manufacturing sector. One way that companies can do to meet their capital needs is to offer shares to the public (go pablic). Earning response coefficient as a way to identify and describe response of the market to earnings information. Variables that affect market response to the earnings response coefficient come from the external and internal environment. Internal variables are liquidity ratios, leverage ratios, profitability ratios, growth opportunities, firm size, profit growth and institutional ownership

The research aims to determine how the development of liquidity ratios, leverage ratios, profitability ratios, growth opportunities, firm size, profit growth institutional ownership, and earnings response coefficients. In addition, this research also examines effect of each variable on the liquidity ratio, leverage ratio, profitability ratio, growth opportunities, firm size, and profit growth on the earnings response coefficient with ownership as a moderating variable

The research uses a quantitative method and has the objective of being a descriptive verification research. The population in this study is the food and beverage sub-sector manufacturing companies listed on the Indonesia Stock Exchange (IDX) in 2016-2020 The purposive sampling method is used as the sampling technique resulting in 18 food and beverage companies that met the criteria. The data analysis technique is performed by panel data regression analysis using fixed effects, and the hypothesis is tested with the 1 test.

The results show that the liquidity ratio has a negative and insignificant effect on the earning response coefficient with a significance value of 0.9234, leverage ratio and profitability have a positive and significant effect on the earning response coefficient with a significance value of 0.1143 and 0.0040 respectively Growth opportunities, firm size and profit growth have a negative and insignificant effect on the earnings response coefficient with significance values of 0.3899, 0.0712 and 0.1407 respectively. Furthermore, the research results show that institutional ownership is able to moderate the correlation between liquidity ratios, leverage ratios, profitability ratios, growth opportunities, firm size, and profit growth on earnings response coefficients