Abstract
The purpose of this research is to examine the relevance of fair value hierarchy information and the effect of institutional ownership on the relevance of fair value hierarchy information. This research is a causal associative research with a quantitative approach. Research conducted on banking companies listed on the Indonesian Stock Exchange period 2015-2018, which were determined by purposive sampling method so that 37 companies were selected as samples. The hypotheses were tests using multiple regression. The results indicate that the fair value level 2 is more relevant than the level 1 and 3, this research proves that the fair value level 2 is relevant for decision making of investor. In subsequent tests, institutional ownership does not have a positive effect on the relevance of fair value level 1, level 2 and level 3.
Highlights
The purpose of this research is to examine the relevance of fair value hierarchy information and the effect of institutional ownership on the relevance of fair value hierarchy information
The results indicate that the fair value level 2 is more relevant than the level 1 and 3, this research proves that the fair value level 2 is relevant for decision making of investor
Research Journal of Finance and Accounting, 5 (12), 45-154
Summary
METODE PENELITIAN Jenis Penelitian Jenis penelitian ini adalah penelitian kuantitatif kausatif. Kriteria pemilihan sampel dalam penelitian ini adalah perusahaan perbankan yang terdaftar di BEI dan mempublikasikan laporan keuangan tahunan berturut turut dari tahun 2015-2018. Rumus untuk menghitung persentase kepemilikan institusional berdasarkan penelitian Sartono (2010:487) adalah sebagai berikut: Kepemilikan institusional = Jumlah saham institusional x 100% Jumlah saham beredar b) Variabel Dependen Variabel dependen pada model 2 dalam penelitian ini adalah relevansi informasi hierarki nilai wajar yang di dapat dari pengujian hipotesis 1 pada model 1. Untuk menguji pengaruh kepemilikan Institusional terhadap relevansi nilai informasi hierarki nilai wajar (H2) pada model 2 adalah sebagai berikut. Hal ini dikarenakan kepemilikan institusional diinteraksikan terhadap relevansi nilai informasi hierarki nilai wajar yang merupakan hasil dari interaksi nilai wajar level 1,2 dan 3 dengan harga saham close price pada hari publikasi laporan keuangan. Hipotesis diterima apabila nilai adjusted 2 meningkat yang berarti kepemilikan institusional meningkatkan nilai relevansi informasi hierarki nilai wajar
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