Analysis Quality of Financial Reporting, Free Cash  Flow, Asset Tangibility, and Liquidity of Investment  Efficiency With In Moderation To Debt Maturity

Dinda Ayu Septiana; Harjum Muharam; Wisnu Mawardi

Analysis Quality of Financial Reporting, Free Cash Flow, Asset Tangibility, and Liquidity of Investment Efficiency With In Moderation To Debt Maturity

*Dinda Ayu Septiana - Universitas Diponegoro, Indonesia

Harjum Muharam - Universitas Diponegoro, Indonesia

Wisnu Mawardi - Universitas Diponegoro

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Abstract

This study aims to analyze the role of free cash flow, asset tangibility, liquidity, and thequality of financial reporting which is moderated by debt maturity in investment efficiency.This study takes State-Owned Enterprises companies listed on the Indonesia Stock Exchangefrom 2011 to 2017 as a population. The purposive sampling method is used as a sampling inresearch. The number of companies that can meet the criteria is 17 companies. This studyuses data from the company's annual financial statements listed on the Stock Exchange,which consists of total investment, free cash flow, asset tangibility, liquidity, and debtmaturity. There are five hypotheses in this study, and analyzed using multiple regression withSPSS tools. The results of this study indicate that the quality of financial reporting has apositive and significant effect on investment efficiency. In addition, the quality of financialreporting moderated by debt maturity has a positive and significant effect on investmentefficiency. For free cash flow, asset tangibility, and liquidity do not have an effect oninvestment efficiency.

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Keywords: Quality of Financial Reporting, Free Cash Flow, Asset Tangibility, Liquidity, Debt Maturity, Investment Efficiency

Article Info

Section: journal

Language : ID

In Volume 9, Nomor 1, Tahun 2020

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