(Studi Empiris Pada Perusahaan Manufaktur yang terdaftar di BEI Periode 2017-2018)

  • Derwin Juan Sagrim UNCEN
  • Syaikhul Falah UNCEN
  • Bill J. C. Pangayow UNCEN
Keywords: investment opportunities set, board independence, free cash flow, earning management firm value


This research has aim to examine the influence of investment opportunities set, board
independence, and free cash flow toward firm value with earning management as the intervening
variable in manufacturing companies listed on Indonesian Stock Exchange for period 2017 to
2018. This study used a sample of 43 companies with 6 years’ time period. The method of
analysis is multiple regression model with further done with path analysis using SPSS 23. These
results indicate that investment opportunities set and free cash flow have a significant direct
effect on the value of the firm, while investment opportunity set and board independence have the
indirect effect. Investment opportunities set, board independence, free cash flow and earning
management simultaneously affect the firm value with adjusted R- squared 55.3%. Overall this
study indicates that earning management has important role as the intervening variable between
investment opportunities set, board independence & free cash flow relating to firm value.


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How to Cite
Sagrim, D., Falah, S., & Pangayow, B. (2019). DETERMINAN EARNING MANAGEMENT DAN PENGARUHNYA TERHADAP NILAI PERUSAHAAN. Jurnal Akuntansi Dan Keuangan Daerah, 14(2), 56-79. Retrieved from

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