Pengaruh Kepemilikan Manajerial dan Kepemilikan Institusional terhadap Audit Report Lag: Studi Empiris Pada Perusahaan Sektor Energi yang Terdaftar di Bursa Efek Indonesia

Late publication of audited financial statements remains a persistent problem in Indonesia's capital market and is especially relevant in the energy sector, where capital-intensive operations and exposure to commodity price and policy shocks make audits more complex. Evidence on whether ownership structure shortens audit report lag is inconsistent across countries and sectors, and few studies have tested it in this sector. Drawing on agency theory, managerial ownership (an alignment mechanism) and institutional ownership (a monitoring mechanism) are tested as determinants of audit report lag, with firm size, profitability, leverage, and auditor type as controls. Multiple linear regression is applied to 140 firm-year observations from 28 energy-sector firms listed on the Indonesia Stock Exchange during 2020–2024, with extreme audit report lag values winsorized to address non-normality. Neither managerial ownership nor institutional ownership has a significant partial effect on audit report lag, whereas higher profitability and engagement of a Big Four auditor are associated with shorter lag. The model explains only a limited share of the variation in audit report lag, so the results are best read as associations within this sample rather than conclusive evidence. The study contributes evidence from a capital-intensive, rarely examined sector showing that ownership structure alone does not account for reporting timeliness, while profitability and auditor characteristics appear more relevant.