Electronic Theses and Dissertation

The effects of institutional ownership, foreign ownership, and audit committee financial expert on investment efficiency with accounting conservatism as a mediator in nonfinancial firms on the indonesia stock exchange by : cut danisha razki npm : 1801203010024 supervisors : 1. dr. muhammad arfan, s.e., m.si., ak., c.a. 2. dr. mulia saputra, s.e., m.si., ak,, c.a. abstract this study is intended to investigate the effects of institutional ownership, foreign ownership, and audit committee financial expert on investment efficiency with accounting conservatism as a mediator. the population in this study is nonfinancial firms listed on the indonesia stock exchange for the period of 2018 to 2020. a sample of 102 companies was selected using the stratified random sampling technique. the data used for the study were secondary data collected from the annual reports of the companies and were analyzed using the path analysis method. the empirical findings showed that institutional ownership, foreign ownership, and audit committee financial expert respectively had a positive effect on accounting conservatism. in addition, foreign ownership and accounting conservatism respectively had a positive effect on investment efficiency, whereas institutional ownership and audit committee financial expert respectively had no significant effect on investment efficiency. further analysis showed that accounting conservatism appeared to have a mediating effect on the relationship between institutional ownership, foreign ownership, and audit committee financial expert on investment efficiency, respectively. keywords: investment efficiency, accounting conservatism, institutional ownership, foreign ownership, audit committee financial expert.

PENGARUH KEPEMILIKAN INSTITUSIONAL, KEPEMILIKAN ASING, DAN KOMITE AUDIT AHLI KEUANGAN TERHADAP EFISIENSI INVESTASI DENGAN KONSERVATISME AKUNTANSI SEBAGAI PEMEDIASI PADA PERUSAHAAN NONKEUANGAN DI BURSA EFEK INDONESIA Oleh : Cut Danisha Razki NPM : 1801203010024 Pembimbing : 1. Dr. Muhammad Arfan, S.E., M.Si., Ak., C.A. 2. Dr. Mulia Saputra, S.E., M.Si., Ak,, C.A. ABSTRAK Penelitian ini bertujuan menguji pengaruh kepemilikan institusional, kepemilikan asing, dan komite audit ahli keuangan terhadap efisiensi investasi dengan konservatisme akuntansi sebagai pemediasi. Populasi dalam penelitian ini adalah perusahaan nonkeuangan yang terdaftar di Bursa Efek Indonesia tahun 2018 hingga 2020. Sampel berjumlah 102 perusahaan yang dipilih dengan menggunakan teknik stratified random sampling. Data yang digunakan dalam penelitian ini merupakan data sekunder yang diperoleh dari laporan tahunan perusahaan dan dianalisis menggunakan metode analisis jalur. Hasil empiris menunjukkan bahwa kepemilikan institusional, kepemilikan asing, dan komite audit ahli keuangan berpengaruh positif terhadap konservatisme akuntansi. Kepemilikan asing dan konservatisme akuntansi juga berpengaruh positif terhadap efisiensi investasi, sementara kepemilikan institusional dan komite audit ahli keuangan tidak berpengaruh terhadap efisiensi investasi. Hasil analisis lanjutan menunjukkan bahwa terdapat pengaruh mediasi oleh konservatisme akuntansi pada pengaruh kepemilikan institusional, kepemilikan asing, dan komite audit ahli keuangan terhadap efisiensi investasi. Kata kunci: Efisiensi investasi, konservatisme akuntansi, kepemilikan institusional, kepemilikan asing, komite audit ahli keuangan.