PENGARUH KUALITAS PELAPORAN KEUANGAN DAN JATUH TEMPO UTANG TERHADAP EFISIENSI INVESTASI

Abstract

The aim of this study is to examine the influence of financial reporting quality and short-term debt maturity on investment efficiency. This study also examine how short-term debt maturity moderates the effect of financial reporting quality on investment efficiency. The control variable in this study are LnSales, Tang, StdCFO, StdSales, Qtobin, Z, and CFO_ATA. The population in this study consists of all listed firm in Indonesia Stock Exchange in year 2012. Sampling method used is purposive sampling. A criterion for firm is non financial services firm. Another criteria is the firm pusbilsh financial reports a year before and after 2012. Total data of this study is 128 data. Multiple regression withOrdinary Least Square(OLS) method used to be analysis technique. The empirical result of this study show that financial reporting quality and short-term debt maturity have positively sifnificant influenced on investment efficiency. In addition, there no significant effect on the level of use of short term debt on financial reporting quality and investment efficiency.