Abstract
This study aims to examine the effect of the quality of financial reporting and the level of debt maturity on investment efficiency. This research is a causative research. The population in this study are manufacturing companies listed on the Indonesia Stock Exchange in 2015-2017. Using the purposive sampling method, there are 88 companies as research samples. The investment efficiency variable is measured using growth opportunities, the financial reporting quality variable is measured by the accrual quality model, and the debt maturity variable is measured by the short-term debt ratio. The type of data used is secondary data obtained from www idx.co id. The analytical method used is panel regression analysis. The results of this study indicate that the quality of financial reporting has a positive and significant effect on investment efficiency, and the level of debt maturity has a positive and significant effect on investment efficiency.
Highlights
Tempo Utang Terhadap Efisiensi Investasi (Studi Empiris pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia (BEI) Tahun 2015-2017)
Abstrack: This study aims to examine the effect of the quality of financial reporting and the level of debt maturity on investment efficiency
The results of this study indicate that the quality of financial reporting has a positive and significant effect on investment efficiency, and the level of debt maturity has a positive and significant effect on investment efficiency
Summary
Nilai rata-rata menunjukkan bahwa Sementara itu, standar deviasi menunjukkan angka yang lebih besar dari pada rata-rata, yaitu 0.2362. Hal ini berarti terdapat variasi data dalam variabel efisiensi investasi dan nilai rata-rata tidak dapat merepresentasikan keseluruhan data efisiensi investasi dengan baik. Variabel independen pertama dalam penelitian ini adalah pengukuran kualitas pelaporan keuangan yang memiliki nilai terendah 0.0003 dan nilai tertinggi sebesar 0.3652. Standar deviasi menunjukkan angka yang lebih besar dari pada rata-rata, yaitu 0.0475. Hal ini berarti terdapat variasi data dalam variabel kualitas pelaporan keuangan. Variabel independen yang selanjutnya adalah tingkat jatuh tempo utang. Variabel tingkat jatuh tempo utang memiliki nilai terendah 0.0449 dan nilai tertinggi 0.9923. Standar deviasi variabel tingkat jatuh tempo utang adalah sebesar 0.2192. Berdasarkan hal tersebut dapat disimpulkan bahwa nilai standar deviasi lebih rendah dari pada rata-rata variabel.
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