Company Value and Other Factor Influence Income Smoothing with Firm Size as Moderating Variable
Keywords:
Cash Holding, Profitability, Financial Leverage, Dividend PolicyAbstract
The purpose of this study is to provide empirical evidence regarding the effect of the Cash Holding, Profitability, Financial Leverage, Dividend Policy, and Company Value as independent variables and also Firm Size as moderating variable that affect income smoothing as dependent variable. The study used population of cyclical and non-cyclical and also transportation and logistic companies listed on the Indonesia Stock Exchange from 2017 to 2022, with sample consisting of 35 companies selected through purposive sampling method. The analysis method used was purposive sampling. The research results showed that cash holding, profitability, dividend policy, company value, and firm size have no significant effect on income smoothing while financial leverage has positive significant effect on income smoothing and also firm size doesn’t moderate profitability and dividend policy effect on income smoothing, while firm size weakens financial leverage effect on income smoothing.
References
Abogun, S., Adigbole, E. A., & Olorede, T. E. (2021). Income Smoothing and Firm Value in A Regulated Market: The Moderating Effect of Market Risk. Asian Journal of Accounting Research, 6(3), 296–308. https://doi.org/10.1108/AJAR-08-2020-0072
Alexander, N. (2019). The Effect of Ownership Structure, Cash Holding and Tax Avoidance on Income Smoothing. GATR Journal of Finance and Banking Review, 4(4), 128–134. https://doi.org/10.35609/jfbr.2019.4.4(3)
Apriliyani, I. B., & Farwitawati, R. (2021). Income Smoothing Sektor Pertambangan di Bursa Efek Indonesia (BEI). Jurnal Ilmiah Ekonomi Dan Bisnis, 18(2), 189–194. https://doi.org/10.31849/jieb.v18i2.7295.
Bobby, Firmansyah, A., Herman, & Trisnawati, E. (2022). Kebijakan Utang, Kebijakan Dividen dan Income Smoothing: Peran Moderasi Ukuran Perusahaan [Debt Policy, Dividend Policy and Income Smoothing: The Moderating Role of Firm Size]. Jurnal Pajak Dan Keuangan Negara (PKN), 4(1S), 357–367. https://doi.org/10.31092/jpkn.v4i1S.1831
Fauziah, N. A. N., & Adi, S. W. (2021). Pengaruh Profitabilitas, Financial Leverage, Nilai Perusahaan, dan Dividend Payout Ratio Terhadap Income Smoothing (Studi Empiris pada Perusahaan Manufaktur Sektor Industri Barang Konsumsi yang Terdaftar di Bursa Efek Indonesia (BEI) Tahun 2016 - 2019) [The Influence of Profitability, Financial Leverage, Company Value, and Dividend Payout Ratio on Income Smoothing (Empirical Study on Manufacturing Companies in the Consumer Goods Industry Sector Listed on the Indonesia Stock Exchange (IDX) in 2016 - 2019)]. Jurnal Kajian Ekonomi Dan Kebijakan Publik (JEpa), 6(2), 502–509.
Ghazali, O. (2014). Variabel-Variabel yang Berpengaruh terhadap Praktik Perataan Laba pada Perusahaan Non Keuangan yang Terdaftar di Bursa Efek Indonesia [Variables Influencing Income Smoothing Practices in Non-Financial Companies Listed on the Indonesia Stock Exchange]. JURNAL BISNIS DAN AKUNTANSI, 16(2), 17–28. https://doi.org/10.34208/jba.v14i2a.266.
Godfrey, J., Hodgson, A., Tarca, A., Hamilton, J., & Holmes, S. (2010). Accounting Theory (7th ed.). John Wiley & Sons Australia, Ltd.
Gunawati, M. N., & Susanto, Y. K. (2019). Faktor - Faktor yang Mempengaruhi Perataan Laba Pada Perusahaan Non Keuangan [Factors Affecting Income Smoothing in Non-Financial Companies.]. JURNAL BISNIS DAN AKUNTANSI, 21(1a-1), 73–82. http://jurnaltsm.id/index.php/JBA
Handoyo, S., & Fathurrizki, S. (2018). Management Dysfunctional Behaviour toward Financial Statements: Income Smoothing Practice in Indonesia’s Mining Industry Sector. Jurnal Keuangan Dan Perbankan, 22(3), 429–442. https://doi.org/10.26905/jkdp.v22i3.1820
Hastuti, R. T., Andrew, R., & Prajogi, M. B. (2021). Profitability Effect on Smoothing of Income with Size of Firm as Moderating Variable in Manufacturing Corporates. Advances in Economics, Business and Management Research, 653, 80–86. https://doi.org/10.2991/aebmr.k.220501.014.
Herdjiono, I., Hayon, P. P., Roempoembo, A. B. B., & Ilyas, I. (2019). Income Smoothing Determinants in Indonesia Banking Industry. Advances in Social Science, Education and Humanities Research, 305, 36–41. https://doi.org/10.2991/icebess-18.2019.6.
Jensen, M. C., & Meckling, W. H. (1976). Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure. Journal of Financial Economics, 5(4), 305–360. https://doi.org/10.1016/0304-405X(76)90026-X.
Kusmiyati, S. D., & Hakim, M. Z. (2020). Pengaruh Ukuran Perusahaan, Profitabilitas, Cash Holding, Debt To Equity Ratio Dan Net Profit Margin Terhadap Perataan Laba (Studi Empiris Pada Perusahaan Manufaktur Sektor Industri Barang Konsumsi yang Terdaftar di Bursa Efek Indonesia Tahun 2014-2018) [The Influence of Company Size, Profitability, Cash Holding, Debt to Equity Ratio and Net Profit Margin on Income Smoothing (Empirical Study on Manufacturing Companies in the Consumer Goods Industry Sector Listed on the Indonesia Stock Exchange in 2014-2018)]. Profita: Komunikasi Ilmiah Akuntansi Dan Perpajakan, 13(1), 58–72. https://doi.org/10.22441/profita.2020.v13i1.005
Mahendra, P. R., & Jati, I. K. (2020). Pengaruh Ukuran Perusahaan, DER, ROA, dan Pajak Penghasilan terhadap Praktik Income Smoothing [The Influence of Company Size, DER, ROA, and Income Tax on Income Smoothing Practices]. E-Jurnal Akuntansi, 30(8), 1941–1956. https://doi.org/10.24843/eja.2020.v30.i08.p04
Maotama, N. S., & Astika, I. B. P. (2020). Pengaruh Profitabilitas, Ukuran Perusahaan, dan Kepemilikan Manajerial terhadap Praktik Perataan Laba (Income Smoothing) [The Influence of Profitability, Company Size, and Managerial Ownership on Income Smoothing Practices]. E-Jurnal Akuntansi, 30(7), 1767–1779. https://doi.org/10.24843/eja.2020.v30.i07.p12
Megarani, N., Warno, & Fauzi, M. (2019). The Effect of Tax Planning, Company Value, and Leverage on Income Smoothing Practices in Companies Listed on Jakarta Islamic Index. Journal of Islamic Accounting and Finance Research, 1(1), 139–162. https://doi.org/10.21580/jiafr.2019.1.1.3733
Mulyati, S., & Mulyana, B. (2021). The Effect of Leverage, Firm Size, and Sales Growth on Income Smoothing and Its Implication to The Firm Value (Study on State-Owned Companies Listed in Indonesia Stock Exchange 2016-2019). International Journal of Engineering Technologies and Management Research, 8(9), 9–18. https://doi.org/10.29121/ijetmr.v8.i9.2021.1015
Nurdiansyah, D. H., Pardistya, I. Y., Mahpudin, E., & Nophiansah, D. (2021). The Empirical Evidence of The Effect of Company Size, Leverage and Profitability On Income Smoothing. Accounting, 7, 1805–1812. https://doi.org/10.5267/j.ac.2021.2.016
Palupi, A. (2020). The Effect of Corporate Governance and Income Tax on Income Smoothing. EQUITY, 23(1), 19–30. https://doi.org/10.34209/equ.v23i1.1307
Paramita, R. W. D., & Isarofah, -. (2016). Income Smoothing: Apakah Ukuran Perusahaan Memoderasi? Journal of Research and Applications: Accounting and Management, 2(1), 55. https://doi.org/10.18382/jraam.v2i1.93
Pradipta, A., & Susanto, Y. K. (2019). Journal of Finance and Banking Review Firm Value, Firm Size and Income Smoothing. Journal of Finance and Banking Review, 4(1), 01–07. https://doi.org/10.35609/jfbr.2019.4.1(1).
Putri, C. A. (2020). Kacau! BPK Sebut Jiwasraya Manipulasi Laba [Chaos! BPK Says Jiwasraya Manipulated Profits]. CNBC Indonesia. https://www.cnbcindonesia.com/market/20200108162637-17-128611/kacau-bpk-sebut-jiwasraya-manipulasi-laba
Ramadhani, D., Sumiati, A., & Handarini, D. (2022). Pengaruh Profitabilitas, Financial Leverage, Kepemilikan Publik, dan Ukuran Perusahaan terhadap Perataan Laba [The Influence of Profitability, Financial Leverage, Public Ownership, and Company Size on Income Smoothing]. JURNAL AKUNTANSI, PERPAJAKAN DAN AUDITING, 2(3), 579–599.
Safitri, O. V., & Mulatsih, E. S. (2022). Cash Holding, dan Struktur Kepemilikan Terhadap Income Smoothing Pada Perusahaan Manufaktur Yang Terdaftar Di BEI Tahun 2015 - 2019. Jurnal Media Akuntansi, 4(2), 224–234. https://doi.org/10.31851/jmediasi.v4i2.7864.
Sekaran, U., & Bougie, R. (2016). Research Methods for Business: Vol. Seventh Ed. John Wiley & Sons Australia, Ltd. www.wileypluslearningspace.com
Suhartono, S., & Hendraswari, V. (2020). Analisis Determinan Perataan Laba : Pendekatan Indeks Eckel [Income Smoothing Determinant Analysis: Eckel Index Approach]. Jurnal Akuntansi Dan Pajak, 21(1), 152–163. https://doi.org/10.29040/jap.v21i1.1064
Sumani, S., Roziq, A., & Annisa, W. (2017). Praktik Income Smoothing pada Perusahaan Sektor Pertanian Di BEI [Income Smoothing Practices in Agricultural Sector Companies at the IDX]. EKUITAS (Jurnal Ekonomi Dan Keuangan), 5(1), 118–137. https://doi.org/10.24034/j25485024.y2021.v5.i1.4801
Tarigan, M. T., & Utami, N. (2021). Analysis of The Influence of Cash Holding, Profitability, and Stock Price On Income Smoothing. South East Asia Journal of Contemporary Business, Economics and Law, 24(1), 8–14.
Tiana, S., & Harjanto, K. (2021). The Determinants of Income Smoothing: Study of Indonesian Manufacturing Companies. ADI International Conference Series, 3(2), 50–61. https://doi.org/10.34306/conferenceseries.v3i2.577.
Wijaya, H., Mauren, & Cahyadi, H. (2020). Factors Influencing Income Smoothing Practices with Firm Size Moderation. Jurnal Akuntansi, 24(2), 250–265. https://doi.org/10.24912/ja.v24i2.695
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2025 International Journal of Interdisciplinary and Sustainability (IJIS)
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
บทความที่ได้รับการตีพิมพ์เป็นลิขสิทธิ์ของ
ข้อความที่ปรากฏ
