Multiple Regression Analysis Analysis and Discussion 1.

63 The result of multiple regression analysis has been explained in table 4.16. The result of multiple regression analysis with using significance 5 obtained the following equation: Y = 107.257 + 2.687X 1 -0.496X 2 -8.991X 3 -0.231X 4 -0.169X 5 - 0.053X 6 -15.271X 7 +ε From the multiple linear regression equation above, it can be explained for each variable as follows: 1. Constant at 107.257 units stated that if there is no influence or change in audit committee independence, audit committee expertise, audit committee size, audit committee meeting, company size, external auditor, and profitability then the value of firm value will be 107.257. 2. Regression coefficient of Audit Committee Independence X1 marked positive at 2.687. It shows that the influence of Audit Committee Independence on the Audit Lag is positive, which means that if the value or number of Audit Committee Independence is increased by one point, then Audit Lag will increase by 2.687 or on the contrary, with assumption variables X2, X3, X4, X5, X6 and X7 remain or unchanged. 3. Regression coefficient of Audit Committee Expertise X2 marked negative at -0.496. It shows that the influence of Audit Committee Expertise on the Audit Lag is negative or opposite direction, which means that if the value or number of Audit 64 Committee Expertise is increased by one point, then Audit Lag will decrease by -0.496 or on the contrary, with assumption variables X1, X3, X4, X5, X6 and X7 remain or unchanged. 4. Regression coefficient of Audit Committee Size X3 marked negative at -8.991. It shows that the influence of Audit Committee Size on the Audit Lag is negative or opposite direction, which means that if the value or number of Audit Committee Size is increased by one point, then Audit Lag will decrease by -8.991 or on the contrary, with assumption variables X1, X2, X4, X5, X6 and X7 remain or unchanged. 5. Regression coefficient of Audit Committee Meeting X4 marked negative at -0.231. It shows that the influences of Audit Committee Meeting on the Audit Lag is negative or opposite direction, which means that if the value or number of Audit Committee Meeting is increased by one point, then Audit Lag will decrease by -0.231 or on the contrary, with assumption variables X1, X2, X3, X5, X6 and X7 remain or unchanged. 6. Regression coefficient of Company Size X5 marked negative at -0.169. It shows that the influence of Company Size on the Audit Lag is negative or opposite direction, which means that if the value or number of Company Size is increased by one point, then Audit Lag will decrease by -0.169 or on the 65 contrary, with assumption variables X1, X2, X3, X4, X6 and X7 remain or unchanged. 7. Regression coefficient of External Auditor X6 marked negative at -0.053. It shows that the influence of External Auditor on the Audit Lag is negative or opposite direction, which means that if the value or number of External Auditor is increased by one point, then Audit Lag will decrease by -0.053 or on the contrary, with assumption variables X1, X2, X3, X4, X5 and X7 remain or unchanged. 8. Regression coefficient of Profitability X7 marked negative at -15.271. It shows that the influence of Profitability on the Audit Lag is negative or opposite direction, which means that if the value or number of Profitability is increased by one point, then Audit Lag will decrease by -15.271 or on the contrary, with assumption variables X1, X2, X3, X4, X5 and X6 remain or unchanged. 66 a. Simultaneous Significance Testing F- Test Test of F statistic is basically indicates whether independent variables altogether can influence the dependent variable. In this research, F test done by seeing probability value. Table 4.15 Result of F-Test ANOVA b Model Sum of Squares df Mean Square F Sig. 1 Regression 6299.146 7 899.878 17.275 .000 a Residual 14585.323 280 52.090 Total 20884.469 287 a. Predictors: Constant, ROA, ACE, ACM, EA, CS, ACI, ACS b. Dependent Variable: AL Based on table 4.16 above, the result of F test shows that value of F is 17.275 and probability value is 0,000 0,05 sig. F 0.05. This result indicates that the variable of audit lag is simultaneously influenced by audit committee independence, audit committee expertise, audit size, audit committee meeting, company size, external auditor, and profitability. b. Partial Significance Test t- Test Test of t statistic performed to determine the effect of one independent variable towards the dependent variable. In this research, t test done by seeing probability value. 67 Table 4.16 Result of t-Test Coefficients a Model Unstandardized Coefficients Standardized Coefficients t Sig. B Std. Error Beta 1 Constant 107.257 5.724 18.737 .000 ACI 2.687 1.726 .152 1.556 .121 ACE -.496 .587 -.046 -.845 .399 ACS -8.991 1.674 -.550 -5.371 .000 ACM -.231 .089 -.142 -2.596 .010 CS -.169 .195 -.046 -.864 .388 EA -.053 .943 -.003 -.057 .955 ROA -15.271 3.802 -.206 -4.016 .000 a. Dependent Variable: AL Source: Output SPSS 20.0 Based on table 4.17 above, the result of t test can be concluded based on probability value value Significance error rate α=0.05 = Ho is rejected, which will be explained as below: 1. Audit Committee Independence ACI Based on table 4.17 above, the result of t tests toward variable of audit committee independence measured by the number of independence members of the Audit Committee shows that probability value is 0.121 p 0.05. It means that audit committee independence does not have influence tothe audit lag. Thus, the first hypothesis H1, which states that audit committee independence has influence to audit lag, is not accepted. 68 2. Audit Committee Expertise ACE Based on table 4.17 above, the result of t tests toward variable of audit committee expertise measured by the number of expert members of the Audit Committee shows that probability value is 0.399 p 0.05. It means that audit committee expertise does not have influence to the audit lag. Thus, the second hypothesis H2, which states that audit committee expertise has influence to audit lag, is not accepted. 3. Audit Committee Size ACS Based on table 4.17 above, the result of t tests toward variable of audit committee size measured by the number of members of the Audit Committee shows that probability value is 0.000 p 0.05. It means that audit committee size has influence to the audit lag. Thus, the third hypothesis H3, which states that audit committee size has influence to audit lag, is accepted. 4. Audit Committee Meeting ACM Based on table 4.17 above, the result of t tests toward variable of audit committee meeting measured by the meeting of the Audit Committee held in a year shows that probability value is 0.010 p 0.05. It means that audit committee meeting has influence to the audit lag. Thus, the forth hypothesis H4, which states that audit committee meeting has influence to audit lag, is accepted. 69 5. Company Size CS Based on table 4.17 above, the result of t test toward variable of company size natural logarithm of total asset shows that probability value is 0.338 p 0.05. It means that company size does not have influence to the audit lag. Thus, the fifth hypothesis H5, which states that company size has influence to audit lag, is not accepted. 6. External Auditor EA Based on table 4.17 above, the result of t test toward variable of external auditor represented by dummy variable by classifying the Big Four public accounting firm and non-Big Four public accounting firm shows that probability value is 0.955 p 0.05. It means that external auditor does not have influence to the audit lag. Thus, the sixth hypothesis H6, which states that external auditor has influence to audit lag, is not accepted. 7. Profitability ROA Based on table 4.17 above, the result of t test toward variable of profitability measured by ROA shows that probability value is 0.000 p 0.05. It means that profitability has influence to the audit lag. Thus, the seventh hypothesis H7, which states that profitability has influence to audit lag, is accepted. 70

4. Coefficient of Determination Test R

2 Determination Coefficient Testing done to determine the magnitude contribution of independent variables toward the dependent variable with sees the value of R 2 . Table 4.17 Result of Determination Coefficient Test Model Summary b Model R R Square Adjusted R Square Std. Error of the Estimate Durbin- Watson 1 .549 a .302 .284 7.21737 2.019 a. Predictors: Constant, ROA, ACE, ACM, EA, CS, ACI, ACS b. Dependent Variable: AL Based on table 4.15 above, the result shows that the correlation coefficient R for 0.549, which means that the correlation between the dependent variable with the independent variables are strong based on the value of R is above 0.5. Adjusted R Square value or coefficient of determination is 0.284 or 28.4. It means that magnitude contribution of independent variables toward the dependent variable is 28.4, while 71.6 firm value can be explained by other variable that is not included in this regression analysis such as audit committee assessment, and independent commissioner. 5. Interpretation Based on multiple regression analysis as described in the previous section, the interpretation of the results is presented in seven sections. The first section discusses the influence of audit committee independence to 71 audit lag H1. The second section discusses the influence of audit committee expertise to audit lag H2. The third section discusses the influence of audit committee size to audit lag H3. The fourth section discusses the influence of audit committee meeting to audit lag H4. The fifth section discusses the influence of company size to audit lag H5. The sixth section discusses the influence of external auditor to audit lag H6. The seventh section discusses the influence of profitability to the audit lag H7. The explanation is as follow: a. The influence of audit committee independence to audit lag. The results using multiple regression analysis obtain results that audit committee independence does not have influence to audit lag. It can be seen from the calculated value by hypothesis testing where the significant level of audit committee independence is 0.121 at significant level 5 which means value 0.121 0.05. Thus, this research cannot accept hypothesis H1, which states that audit committee independence has influence to the audit lag. Regression coefficient value is 2.687, which means that there is positive relationship between audit committee independence and audit lag. If the number of audit committee independence is increased, audit lag will increase. The result of this hypothesis is consistent with research that been done by Nor, Shafie, and Hussin 2010 in Wijaya and Rahardja 2012 who found empirical evidence that there are no

Dokumen yang terkait

THE IMPACT OF GENDER ON EARNINGS MANAGEMENT (Empirical study of the Manufacturing Companies listed on Indonesia Stock THE IMPACT OF GENDER ON EARNINGS MANAGEMENT (Empirical study of the Manufacturing Companies listed on Indonesia Stock Exchange during th

0 2 14

INTRODUCTION THE EFFECTS OF GOOD CORPORATE GOVERNANCE ON COMPANY PERFORMANCE (Empirical study on the Manufacturing Companies listed on Indonesia Stock Exchange During the Period 2007-2009).

0 2 8

THE INFLUENCE OF EARNINGS MANAGEMENT ON THE COST OF DEBT (AN EMPIRICAL STUDY ON LISTED CONSUMER GOODS COMPANIES IN INDONESIA STOCK EXCHANGE).

0 4 37

THE INFLUENCE OF COMPANIES' INTERNAL AND EXTERNAL FACTORS ON AUDIT DELAY (EMPIRICAL STUDY AT MANUFACTURING COMPANIES LISTED IN INDONESIA STOCK EXCHANGE).

0 0 6

THE INFLUENCE OF AUDIT QUALITY, COMPANY FINANCIAL CONDITION, PRIOR AUDIT OPINION, COMPANY'S GROWTH ON GOING CONCERN AUDIT OPINION (Empirical Study of Indonesia Manufacturing Company Listed on IDX from 2004 until 2006).

0 0 6

ANALYSIS OF FINANCIAL PERFORMANCE ISO 9000 CERTIFIED COMPANY (Empirical Study on the Manufacturing Companies Listed on the Stock Exchange)

0 0 20

The effect of financial performance on stock prices on banking companies listed on the stock exchange of Indonesia

0 0 10

The Effect of Good Corporate Governance on Financial Performance of The Company (Empirical Study on Manufacturing Company of Consumer Goods Sector Industry Listed On Indonesia Stock Exchange Year 2015- 2016)

0 0 9

Characteristics Influence of Corporate Governance and Firm Performance Against Tax Avoidance (Empirical Study On Dan Baverage Company Listed on the Indonesia Stock Exchange Year 2012 to 2015)

0 0 10

The Effect of Audit Quality Attributes on the Cost of Equity Capital (Empirical Study on Manufacturing Companies Listed In Indonesia Stock Exchange Year 2014-2016)

0 0 9