PENGARUH RISIKO BISNIS DAN STRUKTUR MODAL TERHADAP EARNINGS PER SHARE DAN MANAJEMEN LABA RIIL SEBAGAI VARIABEL INTERVENING
ABSTRACT: This study aims to
examine the effect of direct and indirect business risk and capital structure
to earnings per share (EPS). In this study, researchers used realearnings
management activity as a mediating variable based on the model Roychowdhury
(2006) with proxymeasurement of abnormal operating cash flow (CFO), abnormal
production costs (PROD), and abnormaldiscretionary expenses (DISEXP). This
study used 25 companies included in the real estate industry and the propety
selected by purposive sampling in the periodof 2010-2013. This study tested the
hypothesis usingregression analysis Structural Equation Modeling of Partial
Least Square (PLS-SEM) with WarpPLS 3.0 software. Researchers found that the
risk of business and capital structure had signifcant positive effect onEPS.
The results showed that of the three mediating variables are used, abnormal
production costs is themost capable of mediating variables mediating that could
mediated the effect of independent variables on the dependent variable. This is
becaused abnormalproduction costs could mediate the effect of business risks
and capital structure of EPS.
Keywords: business risk,
capital structure, earnings per share, abnormal operating cash flow, abnormalproduction
costs, abnormal discretionary expenses
Penulis: Ajeng Wijayanti
Kode Jurnal: jpakuntansidd160591
