Dina Juliani, Ratna Wardhani


Abstract: This research aim to exmine the effect conservatisme on investment efficiency and agency cost as a moderating variable. This research is conducted on public companies doing mergers and acquisitions in Indonesia, Singapore, Malaysia, Vietnam, Philippines and Thailand from 2012-2016. The results show that conservatism has a positive effect on investment efficiency and agency cost strengthens the positive influence of conservatism on investment efficiency

Keywords: conservatism, investment efficiency, agency cost

Abstrak: Penelitian ini bertujuan untuk menguji dampak konservatisme terhadap efisiensi investasi dan agency cost sebagai variabel moderasi. Penelitian ini dilakukan pada perusahaan publik yang melakukan merger dan akuisisi di Indonesia, Singapura, Malaysia, Vietnam, Filipina dan Thailand pada tahun 2012-2016. Hasil penelitian menunjukkan bahwa konservatisme berpengaruh positif pada efisiensi investasi dan agency cost memperkuat pengaruh positif dari koservatisme terhadap efisiensi investasi.

Kata kunci: konservatisme, efisiensi investasi, agency cost

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