Influence of proprietary cost, agency cost and financing incentive toward differences of earning growth segment (Empirical study on state owned enterprises listed on Indonesia stock exchange between 2009 and 2015)

This study was done to determine the influence of proprietary cost, agency cost and financing incentive toward differences of earning growth segment in state owned enterprises listed on the Indonesia Stock Exchange between 2009 and 2015. The study used quantitative research. The data resources consisted of financial statement, annual report and sustainability report. The study samples were 105 companies that was listed in ISE between 2009 and 2015 which were selected through purposive sampling method. The data were analyzed using multiple regression analysis. The results showed that the attained constant value was 1.830. On the other hand the proprietary regression coefficient attained was 0.482. The agency cost regression coefficient attained was 0.987. In addition, financing incentive regression coefficient attained was 0.020. Thus, based on this result, it is deduced the growth rate of profit variations is influenced by proprietary costs, agency costs, financing incentives and showed positive significant influence toward segment profit growth variation.