The Influence of Information Asymmetry and Intellectual Capital Disclosure to Cost of Equity Capital with Managerial Ownership and Institutional Ownership as a Moderating Variable (Banking Sector Issuers listed on Stock Exchange 2013 - 2016)

Abstract

This study aim to examines the relationship between Information Asymmetry, Intellectual Capital and Cost of Equity Capital moderated by Managerial Ownership and Institutional Ownership. Using a sample of banking companies listed on the Indonesia Stock Exchange from 2013 to 2016, this study uses multiple linear regression. This study result there is a significant positive effects Asimetry Information on Cost Of Equity. Then a significant positive effects between Intellectual Capital Disclosure to Cost of Equity Capital. For Moderation Variables there are negative effects are moderation variables 1a and 1b. Namely Information to Cost of Equity Capital moderated by Managerial Ownership and Information Asymmetry to Cost of Equity Capital moderated by Institutional Ownership. While the Control Variables no effect.

Keyword: Information Asymetrry, Intellectual Capital,Cost Of Equity Capital, Managerial Ownership, Institutional Ownership.