Determinants of Earnings Quality in LQ45 Companies: The Role of Investment Opportunity Set, Earnings Persistence, Liquidity, and Dividend Payout Ratio
DOI:
https://doi.org/10.33062/ajb.v11i01.194Keywords:
Investment Opportunity Set, Earnings Persistency , Liquidity ., Dividend , Payout Ratio , Earnings QualityAbstract
This study aims to examine the effects of the investment opportunity set, earnings persistence, liquidity, and dividend payout ratio on earnings quality among companies listed on the LQ45 Index of the Indonesia Stock Exchange for the period 2020–2024. This study employs a quantitative approach using secondary data sourced from companies’ annual financial reports. The population consists of 45 LQ45 companies, and the sample was selected using purposive sampling, resulting in 23 companies with five years of observation data, yielding 115 observations. After outlier detection using boxplots, 106 final data observations were obtained. The analysis employed multiple linear regression using SPSS version 27. The results of the simultaneous test indicate that all independent variables have a significant effect on earnings quality. Partially, the investment opportunity set and liquidity have a significant positive effect on earnings quality, while earnings persistence and the dividend payout ratio do not have a significant effect. These findings indicate that companies with high investment opportunities and good liquidity tend to generate high-quality earnings, making them more reliable for stakeholders in economic decision-making.
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