Electronic Theses and Dissertation

Penelitian ini dilakukan untuk melihat peran moderasi variabel corporate governance yang di proksikan dengan female board of commissioners dan independent board of commissioners, terhadap pengaruh free cash flow dan financial leverage pada manajemen laba dengan konteks two-tier governance system. Dilatarbelakangi oleh meningkatnya perusahaan non keuangan yang melakukan manajemen laba. Objek penelitian yaitu perusahaan non keuangan yang terdaftar di Bursa Efek Indonesia periode 2022 sampai dengan 2024, metode penelitian yang digunakan yaitu moderated regression analysis (MRA) dan analis regresi data panel, dengan jumlah sub sampel 46 perusahaan yang positif melakukan manajemen laba dengan menaikan laba. Hasil penelitian ini yaitu, financial leverage terbukti mempengaruhi manajemen laba secara positif, free cash flow tidak terbukti mempengaruhi manajemen laba, female board of commissioners terbukti memoderasi dengan memperkuat pengaruh positif financial leverage terhadap mnajemen laba, tetapi tidak memoderasi hubungan free cash flow terhadap manajemen laba, dan independent board of commissioner tidak terbukti memoderasi hubungan free cash flow dan financial leverage terhadap manajemen laba.

This study was conducted to examine the moderating role of corporate governance variables, proxied by female board of commissioners and independent board of commissioners, on the influence of free cash flow and financial leverage on earnings management within the context of a two-tier governance system. This research is motivated by the increasing number of non-financial companies engaging in earnings management. This study was conducted on non-financial companies listed on the Indonesia Stock Exchange from 2022 to 2024. The research method used was moderated regression analysis (MRA) and panel data regression analysis, with a subsample of 46 companies that positively engaged in earnings management by increasing profits. The results of this study are: financial leverage is proven to positively influence earnings management, free cash flow is not proven to influence earnings management, female board of commissioners is proven to moderate by strengthening the positive effect of financial leverage on earnings management, but does not moderate the relationship between free cash flow and earnings management, and independent board of commissioners is not proven to moderate the relationship between free cash flow and financial leverage on earnings management.