Abstract
This study examines the relevance of fair value of assets and liabilities and mechanisms of good corporate governance as a moderating variable by using a sample banking companies listed in Indonesia Stock Exchange from 2012 to 2014 year. The sampling method using purposive sampling and analysis of research data using Eviews. Mechanism of Good Corporate Governance in the study visits of the independent board, institutional investors and the audit committee of the company. Furthermore, this research also investigates the value relevance of accounting information such as book value, earnings, the fair value of financial assets and liabilities with a view influence on stock prices and stock returns. Ohlson Model (1995) into the measurement model used in this study, and this study examines both the measurement model Ohlson is the pricing model and the model returns to see the consistency of the study. Significant results indicate that the book value, earnings, the fair value of assets and liabilities fair value has relevance value. So we can conclude all variables affect stock prices and stock returns. In addition, Good corporate governance mechanisms able to moderate over the value relevance of book value, earnings, fair value of financial assets and liabilities fair value.
Highlights
This study examines the relevance of fair value of assets and liabilities and mechanisms of good corporate governance as a moderating variable by using a sample banking companies listed in Indonesia Stock Exchange from 2012 to 2014 year
Nilai buku per lembar saham (Book Value Per Share) dapat mencerminkan berapa besar jaminan yang akan diperoleh oleh pemegang saham apabila perusahaan penerbit saham dilikuidasi
Didukung Pinasti (2004) dalam penelitiannya, harga saham merupakan salah satu faktor alasan investor untuk mengambil keputusan investasinya, dengan didasarkan pada laba per saham yang merupakan kekuatan laba perusahaan ketika menghitung per lembar saham yang akan mempengaruhi ekuitas perusahaan
Summary
Teori Relevansi Nilai (Value Relevance Theory) Teori relevansi nilai merupakan turunan dari teori clean surplus. Mekanisme corporate governance dalam penelitian in digunakan untuk memoderasi nilai wajar dengan harga saham dan return saham mengacu pada Song et al (2010), yang menemukan bahwa pengukuran nilai wajar asset dan lialibiltas keuangan memiliki relevansi nilai atau dengan kata lain berpengaruh terhadap harga saham. Penelitian ini akan menguji relevansi nilai atas nilai wajar aset dan liabilitas sesuai PSAK 55 dengan mekanisme corporate governance sebagai variabel moderasi.Dimana pengukuran nilai wajar bertujuan untuk mencapai harga dengan transaksi yang wajar terjadi antar pelaku pasar pada tanggal pengukuran. Nilai wajar atas aset dan liabilitas dalam laporan keuangan sesuai PSAK 55 digunakan untuk pengambilan keputusan mengenai instrumen keuangan dan harga pasar saham melalui mekanisme corporate governance. Berdasarkan masalah penelitian yang telah disampaikan dalam rumusan masalah, maka dikembangkan hipotesis sebagai berikut
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