Pengaruh Risiko, Leverage, Peluang Pertumbuhan, Persistensi Laba dan Kualitas Tanggung Jawab Sosial Perusahaan terhadap Earning Response Coefficient pada Perusahaan High Profile

Abstract

This study aimed to investigated empirically effect of risk, leverage, peluang pertumbuhan, earning persistence and Corporate Social Responsibility (CSR) quality on earning response coefficient at high profile company that listed on Indonesian stock exchange in 2009-2011. This study using risk, DER, MB, PL and dummy variable by ISRA categorize to measured independent variable. Earning response coefficient (ERC) as dependent variable is measured by regression of abnormal return with unexpected earning (+/-) 5 day at window period from the date of publication of annual report. This study uses multiple regression analysis with the object 140 high profile companies. By purposive sampling method there is 72 annual report which according to specified criteria. The result showed that risk, leverage, growth opportunities, earning persistence and CSR diclossure have silmutaniously effect to ERC. In partial test showed that risk, leverage and CSR quality have negative effect on ERC. Furthermore growth opportunities and earning persistence haven’t effect to ERC.
Keywords: risk, growth opportunities, leverage, earning response coefficient, high profile.