?url_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Adc&rft.title=FAKTOR-FAKTOR+YANG+MEMPENGARUHI+MANAGEMENT%0D%0ADISCUSSION+AND+ANALYSIS+(MD%26A)+SERTA+PENGARUHNYA%0D%0ATERHADAP+REAKSI+PASAR&rft.creator=Nana+%2C+Umdiana&rft.subject=300+Ilmu+sosial&rft.subject=330+Ekonomi&rft.description=Penelitian+ini+bertujuan+untuk+mengidentifikasi+faktor-faktor+yang%0D%0Amemengaruhi+pengungkapan+Management+Discussion+and+Analysis+(MD%26A)+serta%0D%0Adampaknya+terhadap+reaksi+pasar+dan+pertumbuhan+laba+perusahaan.+Masalah%0D%0Autama+yang+diangkat+adalah+rendahnya+kualitas+dan+konsistensi+pengungkapan%0D%0AMD%26A+di+Indonesia%2C+yang+berpotensi+menimbulkan+asimetri+informasi+antara%0D%0Amanajemen+dan+pemangku+kepentingan.+Penelitian+ini+menggunakan+pendekatan%0D%0Akuantitatif+dengan+metode+regresi+data+panel%2C+melibatkan+124+perusahaan%0D%0Amanufaktur+yang+terdaftar+di+Bursa+Efek+Indonesia+selama+periode+2015%E2%80%932021.%0D%0AVariabel+independen+dalam+penelitian+ini+meliputi+financial+target+(ROA)%2C%0D%0Atingkat+utang%2C+dan+efektivitas+pengawasan+(effective+monitoring)%2C+serta+variabel%0D%0Akontrol+seperti+ukuran+dan+umur+perusahaan%2C+dan+frekuensi+rapat+pengurus.%0D%0ASementara+itu%2C+variabel+dependen+terdiri+atas+tingkat+pengungkapan+MD%26A%2C+return%0D%0Asaham%2C+dan+pertumbuhan+laba.Hasil+penelitian+menunjukkan+bahwa+financial+target%0D%0Adan+effective+monitoring+berpengaruh+positif+signifikan+terhadap+pengungkapan%0D%0AMD%26A%2C+sedangkan+utang+berpengaruh+negatif+signifikan.+Namun%2C+pengungkapan%0D%0AMD%26A+tidak+berpengaruh+signifikan+terhadap+return+saham+dan+pertumbuhan+laba.%0D%0ATemuan+ini+menunjukkan+bahwa+meskipun+MD%26A+tidak+secara+langsung%0D%0Amemengaruhi+kinerja+pasar+dan+keuangan%2C+transparansi+informasi+non-keuangan%0D%0Atetap+penting+dalam+membangun+kepercayaan+investor+dan+tata+kelola+perusahaan%0D%0Ayang+baik.%0D%0AKata+Kunci+%3A+MD%26A%2C+Reaksi+Pasar%2C+Asimetri+Informasi%2C+Efektivitas+Pengawasan%0D%0A%0D%0AThis+study+aims+to+identify+the+factors+that+influence+the+disclosure+of%0D%0AManagement+Discussion+and+Analysis+(MD%26A)+and+its+impact+on+market+reactions%0D%0Aand+earnings+growth.+The+main+issue+addressed+is+the+low+quality+and+inconsistency%0D%0Aof+MD%26A+disclosures+in+Indonesia%2C+which+potentially+creates+information%0D%0Aasymmetry+between+management+and+stakeholders.+The+research+employs+a%0D%0Aquantitative+approach+using+panel+data+regression%2C+involving+124+manufacturing%0D%0Acompanies+listed+on+the+Indonesia+Stock+Exchange+from+2015+to+2021.%0D%0AIndependent+variables+include+financial+targets+(ROA)%2C+debt+levels%2C+and%0D%0Aeffective+monitoring%2C+with+control+variables+such+as+firm+size%2C+firm+age%2C+and+board%0D%0Ameeting+frequency.+The+dependent+variables+are+the+level+of+MD%26A+disclosure%2C%0D%0Astock+returns%2C+and+earnings+growth.The+findings+indicate+that+financial+targets+and%0D%0Aeffective+monitoring+have+a+significant+positive+effect+on+MD%26A+disclosure%2C+while%0D%0Adebt+has+a+significant+negative+effect.+However%2C+MD%26A+disclosure+does+not+have+a%0D%0Asignificant+effect+on+stock+returns+and+earnings+growth.+These+results+suggest+that%0D%0Aalthough+MD%26A+may+not+directly+influence+market+and+financial+performance%2C+the%0D%0Atransparency+of+non-financial+information+remains+essential+in+building+investor%0D%0Atrust+and+enhancing+corporate+governance.%0D%0AKeyword+%3A+MD%26A%2C+Market+Reaction%2C+Asymetry+Information%2C+Effective+Monitoring&rft.publisher=FAKULTAS+EKONOMI+DAN+BISNIS&rft.date=2025-05-26&rft.type=Disertasi&rft.type=NonPeerReviewed&rft.format=text&rft.identifier=http%3A%2F%2Fdigilib.unila.ac.id%2F88441%2F1%2FABSTRAK.pdf&rft.format=text&rft.identifier=http%3A%2F%2Fdigilib.unila.ac.id%2F88441%2F2%2FDISERTASI-FULL.pdf&rft.format=text&rft.identifier=http%3A%2F%2Fdigilib.unila.ac.id%2F88441%2F3%2FDISERTASI%2520TANPA%2520BAB%2520PEMBAHASAN.pdf&rft.identifier=++Nana+%2C+Umdiana++(2025)+FAKTOR-FAKTOR+YANG+MEMPENGARUHI+MANAGEMENT+DISCUSSION+AND+ANALYSIS+(MD%26A)+SERTA+PENGARUHNYA+TERHADAP+REAKSI+PASAR.++%5BDisertasi%5D+++++&rft.relation=http%3A%2F%2Fdigilib.unila.ac.id%2F88441%2F