FAKTOR-FAKTOR YANG MEMENGARUHI LUAS PENGUNGKAPAN DAN IMPLIKASINYA TERHADAP ASIMETRI INFORMASI

FAKTOR-FAKTOR YANG MEMENGARUHI LUAS PENGUNGKAPAN DAN IMPLIKASINYA TERHADAP ASIMETRI INFORMASI

Meliana Benardi K.

(STIE Tanjung Selor)

Sutrisno

Prihat Assih

(Fakultas Ekonomi Universitas Brawijaya)

ABSTRACT

The aim of this research is to analyze the factors that influence disclousure extend and its implications to information asymetry. Disclousure extend in this research related to firm characteristics measured by some factors, that is firm’s structure, firm’s performance, and firm’s market. This research using 40 manufacturing companies listed at Indonesian Stock Exchange in the period of 2005-2007. The tools analysis used in this research are multiplelinear regression and simple-linear regression.

The result of this research show that characteristics related to structure only firm size variable is positively significant associated with variation of annual report disclousure extend, whereas leverage variable and the portion of stock owned by public investors are not significant. Characteristics related to performance which measures with liquidity and profitability variables are not effect the variation annual report disclousure extend. Characteristics related to market which measures with auditors size and scope of bisnis variable are significant positively associated with variation annual report disclousure extend. Finally, disclousure extend enable decrease information asymmetry.

Keyword : Firm characteristics, Annual Report Disclousure, Information Asymmetry.

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