Table 1 The measurement of operating... | Emerald Publishing

Table 1

The measurement of operating variables

Variable	Formula measurement	Scale
Dependent variable by using the future market value variable estimation indicator measurement	The Estimated Price_d = Div_t+1 + Div_t+2 + … + Div_t+5 + Price_TV (1 + k)^t+1 (1 + k)^t+2 (1 + k)^t+5 (1 + k)^t+5 Future Market Value On Equity = Equity _t / The Estimated Price _t+1 Future Market Value On Earnings = Earnings _t / The Estimated Price _t+1	Ratio
Independent variable with innate accruals quality measurement = (absolute predictive value j, t.) X – 1	(Accruals Quality)_j,t = σ (ε_j,t) σ (ε_j,t) = α + λ1 Log (Size)_j,t + λ2 σ (Cash Flow Operational)_j,t + λ3 σ (Cash Flow Operational) _j,t+1 + λ4 σ (Account Receivables)_j,t + λ5 σ (Account Payables)_j,t + λ6 (Margin Profit)_j,t + λ7 (Modal Kerja)_j,t + λ8 σ (Fixed Asset)_j,t + υ_j,t	Ratio
Moderation variable using the dividend policy indicator	Dividend _t = Dividend _t / Net Income _t-1 Measurement of Period Dividend Policy t and Net Income period t-1	Ratio
First control variable with size	Book Value = Value Total Asset current period Size = Log (Natural Book Value)	Ratio
The second control variable with sales growth	Delta Sales = Sales period t - Sales period t-1 Sales Growth _t = Delta Sales / Sales _(t)	Ratio
Third control variable with risk (debt-to-equity ratio)	Total Debt = Short-term Debt + Long-term Debt Then the formula was developed Debt to Equity Ratio = Total Debt Value / Equity Value	Ratio

Variable	Formula measurement	Scale
Dependent variable by using the future market value variable estimation indicator measurement	The Estimated Price_d = Div_t+1 + Div_t+2 + … + Div_t+5 + Price_TV (1 + k)^t+1 (1 + k)^t+2 (1 + k)^t+5 (1 + k)^t+5 Future Market Value On Equity = Equity _t / The Estimated Price _t+1Future Market Value On Earnings = Earnings _t / The Estimated Price _t+1	Ratio
Independent variable with innate accruals quality measurement = (absolute predictive value j, t.) X – 1	(Accruals Quality)_j,t = σ (ε_j,t)σ (ε_j,t) = α + λ1 Log (Size)_j,t + λ2 σ (Cash Flow Operational)_j,t + λ3 σ (Cash Flow Operational) _j,t+1 + λ4 σ (Account Receivables)_j,t + λ5 σ (Account Payables)_j,t + λ6 (Margin Profit)_j,t + λ7 (Modal Kerja)_j,t + λ8 σ (Fixed Asset)_j,t + υ_j,t	Ratio
Moderation variable using the dividend policy indicator	Dividend _t = Dividend _t / Net Income _t-1Measurement of Period Dividend Policy t and Net Income period t-1	Ratio
First control variable with size	Book Value = Value Total Asset current periodSize = Log (Natural Book Value)	Ratio
The second control variable with sales growth	Delta Sales = Sales period t - Sales period t-1Sales Growth _t = Delta Sales / Sales _(t)	Ratio
Third control variable with risk (debt-to-equity ratio)	Total Debt = Short-term Debt + Long-term DebtThen the formula was developedDebt to Equity Ratio = Total Debt Value / Equity Value	Ratio