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Earnings Management and Managerial Ownership Moderate the Influence of Profitability on Firm Value

This research was aims to get an empirical evidence about the ability of earnings management and managerial ownership in moderating the influence of profitability on firm value. The firm value in this research was measured using the Tobin's Q model developed by Prof. James Tobin (1967). Earnings management in this study is real earnings management which is proxied by cash flow operation, production cost and discretionary expenses; managerial ownership is measured by the percentage of share ownership owned by directors and commissioners, and profitability is measured by ROE (return on equity), which is the ratio of net income and equity of common stock. The sample in this research is 51 companies that conducted in manufacturing companies listed on the Indonesia Stock Exchange. Observation period during 2014 until 2016. The method of determining the sample has using purposive sampling. The technique of analysis was used Moderated Regression Analysis (MRA). The results showed that earnings management can not be able to weakness the influence of profitability on firm value and managerial ownership can not be able to strengthen the effect of profitability on firm value.