Selasa, 11 Januari 2011

EQUITY RISK PREMIUM PERUSAHAAN YANG TERDAFTAR DI BURSA EFEK INDONESIA DAN FAKTOR-FAKTOR YANG MEMPENGARUHINYA

Language : Indonesia - SNA 13 PURWOKERTO  2010
Pages : 35 Halaman
Release Date : 2010

Harga : Rp. 20.000,- (softcopy CD) - Belum Ongkir


Penelitian bertujuan menguji pengaruh masa penugasan auditor, ukuran perusahaan, rasio book to market equity, leverage, beta, dan kualitas laba terhadap Equity Risk Premium.


Saiful
Uvi Elin Erliana
 (Universitas Bengkulu)


 ABSTRACT 
The purpose of this study is to examine the impact of tenure, company’s size, book to market equity, leverage, beta and earnings quality on company’s equity risk premium. Sample was taken based on purposive sampling method from Manufacture companies that listed in Indonesia Stock Exchange in the year 2005 to 2008. The final samples consist of 45 companies. This study found that book to market equity and leverage positively and significantly influence equity risk premium, while beta negatively and significantly influence equity risk premium. These findings indicate that equity risk premium increase as book to market equity increase, because the highest book to market equity ratio show that companies is not growth, so company’s risk will be high. Meanwhile, the highest leverage ratio show that companies have financial distress and its will increase the company’s risk. In contras, higher beta lead to lower equity risk premium, it may be effected by emerging market in Indonesia feature. 


Keywords: Capital Asset Pricing Model, Auditor Tenure, Book to Market equity, Leverage, beta, and Equity Risk Premium.

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