ojs2 has produced an error Message: WARNING: Invalid argument supplied for foreach() In file: /home/jab1/public_html/lib/pkp/classes/core/Core.inc.php At line: 149 Stacktrace: File: /home/jab1/public_html/lib/pkp/classes/core/Core.inc.php line 149 Function: PKPApplication->errorHandler(2, "Invalid argument supplied for foreach()", "/home/jab1/public_html/lib/pkp/classes/core/Core.inc.php", 149, Array(6)) File: /home/jab1/public_html/lib/pkp/classes/core/PKPRequest.inc.php line 463 Function: Core->isUserAgentBot("Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)") File: /home/jab1/public_html/plugins/generic/usageEvent/UsageEventPlugin.inc.php line 353 Function: PKPRequest->isBot() File: /home/jab1/public_html/plugins/generic/usageEvent/UsageEventPlugin.inc.php line 106 Function: UsageEventPlugin->_buildUsageEvent("TemplateManager::display", Array(5)) File: (unknown) line (unknown) Function: UsageEventPlugin->getUsageEvent("TemplateManager::display", Array(5)) File: /home/jab1/public_html/lib/pkp/classes/plugins/HookRegistry.inc.php line 89 Function: call_user_func(Array(2), "TemplateManager::display", Array(5)) File: /home/jab1/public_html/lib/pkp/classes/template/PKPTemplateManager.inc.php line 332 Function: HookRegistry->call("TemplateManager::display", Array(5)) File: /home/jab1/public_html/pages/article/ArticleHandler.inc.php line 224 Function: PKPTemplateManager->display("article/article.tpl") File: (unknown) line (unknown) Function: ArticleHandler->view(Array(1), Object(Request)) File: /home/jab1/public_html/lib/pkp/classes/core/PKPRouter.inc.php line 362 Function: call_user_func(Array(2), Array(1), Object(Request)) File: /home/jab1/public_html/lib/pkp/classes/core/PKPPageRouter.inc.php line 220 Function: PKPRouter->_authorizeInitializeAndCallRequest(Array(2), Object(Request), Array(1), False) File: /home/jab1/public_html/lib/pkp/classes/core/Dispatcher.inc.php line 134 Function: PKPPageRouter->route(Object(Request)) File: /home/jab1/public_html/lib/pkp/classes/core/PKPApplication.inc.php line 178 Function: Dispatcher->dispatch(Object(Request)) File: /home/jab1/public_html/index.php line 64 Function: PKPApplication->execute() Server info: OS: Linux PHP Version: 5.6.40-38+ubuntu18.04.1+deb.sury.org+1 Apache Version: N/A DB Driver: mysql DB server version: 5.7.33-0ubuntu0.16.04.1-log
The Effect of Earnings Quality to Bond Yields with Credit Risk as Moderating Variable | Sari | Jurnal Akuntansi dan Bisnis

The Effect of Earnings Quality to Bond Yields with Credit Risk as Moderating Variable

Ratna Candra Sari

##article.abstract##


Statement of Financial Accounting Concepts (SFAC) No. 1 (1978) has specified investors and creditors as the primary users of financial reporting. SFAC No.1 implies that earnings are useful to bondholders, but previous empirical research on the informativeness of earnings has focused on stock market rather than bond market. The objective of this research was to study the effect of earnings quality to bond yields and whether the effect of earnings quality to bond yields at high credit risk is higher than the effect of earnings quality to bond yields at low credit risk. Research has done in three years from 2001 to 2004. This is empirical research conducted on 82 corporate bonds chosen from a purposive sampling. The data obtained from the research are analyzed in a multiple regression analysis with interaction effects. The research finding show that the effect of earnings quality to bond yields was significant and the effect of earnings quality to bond yields at high credit risk is higher than the effect of earnings quality to bond yields at low credit risk. It is consistent with the hypothesis. Earnings quality is important to bondholders although bondholders was fixed claimant. This finding is important given the lack evidence about the usefulness of earnings quality to bondholders.



DOI: http://dx.doi.org/10.20961/jab.v9i1.86

Jurnal Akuntansi dan Bisnis (JAB)
ISSN 1412-0852 (print), 2580-5444 (online)
Published by Accounting Study Program, Faculty of Economics and Business, Universitas Sebelas Maret, Indonesia


Creative Commons License
JAB on http://jab.fe.uns.ac.id/index.php/jab is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License

Visitor Statistic