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PENGARUH CORPORATE GOVERNANCE DAN KONSENTRASI KEPEMILIKAN TERHADAP DAYA INFORMASI AKUNTANSI

Language : Indonesia - SNA 13 PURWOKERTO  2010
Pages : 24 Halaman
Release Date : 2010
Harga : Rp. 20.000,- (softcopy CD) - Belum Ongkir

Penelitian ini bertujuan untuk menguji pengaruh corporate governance dan konsentrasi kepemilikan terhadap daya informasi akuntansi. Secara khusus, penelitian ini menguji pengaruh komisaris independen dan komite audit sebagai struktur corporate governance dan konsentrasi kepemilikan terhadap daya informasi akuntansi.

ANDI WAWO 

Universitas Islam Negeri Alauddin Makassar 

Abstract 

The objective of this research will test the effect of corporate governance and concentrated ownership on the informativeness of accounting. Especially, this research will test the effect of independent commissioner and audit committee as corporate governance mechanism and concentrated ownership on the informativeness of accounting. Independent directors are proportion independent director in board of director. Audit committee is presence of independent audit, while ownership data are proportion of biggest shareholder in company. This research samples are public companies listed on the Indonesian Stock Exchange for the period in 5 years which is in period of 2003 to 2007 with exception of bank and financial institutions. Hypothesis test by method which is used by Fang and Wong (2002) with independent variable consist of independent directors, audit committee and concentrate ownership, while control variable in this research use market to book ratio, leverage, and fixed effect. The result research can be summarized as following; First, independent commissioner has a positive effect on the informativeness of accounting but audit committee does not have effect on the informativeness of accounting. Second, concentrated ownership at immediate level has a negative effect on the informativeness of accounting at cut-off 10%, 20% and 30% but concentrated ownership does not has effect on the informativeness of accounting at level 40% and 50%. Third, the immediate of concentrated ownership at cut-off 10% as moderating variable on associated between independent commissioner and the informativeness of accounting can not support. This result supported by sensitivity test on cut-off point 20%, 30%, 40% and 50% are not effect. 

Key words: Cumulative of Abnormal Return (CAR), the informativeness of accounting, independent directors, audit committee, concentrated ownership.

KEPEMILIKAN MANAJEMEN, KEPEMILIKAN INSTITUSI, LEVERAGE DAN CORPORATE SOCIAL RESPONSIBILITY

Language : Indonesia - SNA 13 PURWOKERTO  2010
Pages : 28 Halaman
Release Date : 2010
Harga : Rp. 20.000,- (softcopy CD) - Belum Ongkir


Penelitian ini berusaha menguji pengaruh kepemilikan manajemen, kepemilikan institusi, dan leverage terhadap CSR. Sedangkan total Asset, nilai pasar terhadap nilai buku, perubahan return dan firm age dalam penelitian ini sebagai variabel kontrol.

Rawi

Munawar Muchlish

ABSTRACT 

The objective of this study was to analyze the influence of management ownership, institution ownership, and leverage on Corporate Social Responsibility (CSR). The analysis used control variable of total asset, market value upon book value, return change, and factory’s age. Using the control variables, it was hoped that the analysis result could eliminate the mistakes in drawing the conclusion. The sample used here was the secondary data from Bursa Efek Indonesia (BEI/Indonesia Exchange Stock), i.e. the annual report of manufacturers listed in 2005 to 2007 in BEI. The sample was taken using the method of purposive sampling, and those meeting the selection criteria were also taken. The sample used was of 81 manufacturers. The statistics method used here was multiplied analysis linear regression, with hypotheses testing of statistic t and F tests. The result of analysis based on the use of all control variables suggested that the management ownership had significant influence on CSR, and the institution ownership and leverage, on the other hand, had no significant influence on CSR. 

Keywords : Corporate Social Responsibility, Management Ownership, Institution Ownership; Leverage.

KARAKTERISTIK PRIBADI KOMITE AUDIT DAN PRAKTIK MANAJEMEN LABA

Language : Indonesia - SNA 13 PURWOKERTO  2010
Pages : 26 Halaman
Release Date : 2010
Harga : Rp. 20.000,- (softcopy CD) - Belum Ongkir

Penelitian ini dilakukan untuk mengetahui bagaimana dampak penerapan komite audit, dengan proksi berupa karakteristik dari komite audit, sebagai sebuah aplikasi penerapan good corporate governance, terhadap praktik manajemen laba dalam perusahaan. Penelitian ini meneliti dampak dari karakteristik pribadi komite audit (yang dilihat dari karakteristik pribadi ketua komite audit) yang diukur dengan menggunakan beberapa ukuran seperti umur, latar belakang akuntansi dan keuangan, pengalaman bekerja di KAP, pernahnya menjadi bagian dari manajemen perusahaan, tingkat pendidikan, terhadap praktik manajemen laba.

Dr. Ratna Wardhani 

Herunata Joseph

 ABSTRACT 

This study aims to determine the relationship between audit committee characteristics with the practice of earnings management in a company. This research examined the characteristics of the chairman of the audit committee as part of the most influential in an audit committee. Characteristics of the audit committee that investigated in this study include the age of the chairman of the audit committee, financial and accounting background, the experience became a partner in the accounting firm, experience of being part of internal management and education level. While earnings management calculated with discretionary accruals. Discretionary accruals values calculated using the Kaznik model. The results showed that the accounting and financial background variables are related negatively to earnings management. Another variable that has significant impact is the experience of being a partner at accounting firm which is positively related to earnings management. Several control variables in the study, namely firm size and growth opportunity, also proved to have an influence on earnings management. Firm size has a positive relationship, while the growth opportunity has a negative relationship. 

Keywords: audit committee, characteristics, earnings management, corporate governance

IMPLIKASI INTELLECTUAL CAPITAL TERHADAP FINANCIAL PERFORMANCE, GROWTH DAN MARKET VALUE; STUDI EMPIRIS DENGAN PENDEKATAN SIMPLISTIC SPECIFICATION

Language : Indonesia - SNA 13 PURWOKERTO  2010
Pages : 29 Halaman
Release Date : 2010
Harga : Rp. 20.000,- (softcopy CD) - Belum Ongkir


Penelitian sebelumnya masi menunjukkan hasil yang kontradiktif tersebut, maka menarik untuk dikaji ulang dengan melakukan penelitian mengenai Modal Intelektual. Penelitian ini berusaha mereplikasi penelitian yang pernah dilakukan Chen et.al (2005) dengan beberapa modifikasi dan penyesuaian dengan kondisi di Indonesia. Selanjutnya penelitian ini bertujuan untuk membuktikan secara empiris pengaruh pengaruh Modal Intelektual terhadap kinerja keuangan, pertumbuhan, dan nilai pasar perusahaan.

Badingatus Solikhah, S.E.1

Dr. H. Abdul Rohman, M.Si, Akt 2

Wahyu Meiranto, M.Si., Akt 3

ABSTRACT

Intellectual Capital has been examined in several countries, but in Indonesia Intellectual Capital study which related to market value is limited. The results in previous research also show to different findings. The purpose of this study is to investigate the influence of Intellectual Capital of firm toward their financial performance, growth and market value. Furthermore, the purpose of this study is to investigate differensiation of Intellectual Capital Performance in each industry. The Value Added Intellectual Coefficient (VAICTM) methode is used to measure of Intellectual Capital. This study uses data from 116 publicly listed companies in Indonesian Stock Exchange between the years 2006 to 2008. It is an empirical study using Partial Least Square (PLS) and one-way ANOVA for the data analysis. The results show that: Intellectual Capital influences positively to financial performance and growth; Intellectual Capital doesn’t influence firm’s market value. The  Performance of Intellectual Capital is differs by industry. But this differenciation is low because the samples in this study are only in manufacturing sectors which have same characters.

Key words: Intellectual Capital, financial performance, growth, firm’s market value, Partial Least Square (PLS)

HUBUNGAN ANTARA KESALAHAN PREDIKSI LABA MANAJEMEN DAN AKRUAL DENGAN KETIDAKPASTIAN LINGKUNGAN SEBAGAI VARIABEL MODERATING

Language : Indonesia - SNA 13 PURWOKERTO  2010
Pages : 33 Halaman
Release Date : 2010
Harga : Rp. 20.000,- (softcopy CD) - Belum Ongkir


Penelitian ini bermaksud untuk meneliti apakah kesalahan dalam prediksi manajemen tentang laba tahun berikutnya (didefinisikan sebagai perbedaan antara prediksi laba dan akrual) memiliki hubungan positif dengan akrual tahun berjalan. Penelitian ini berfokus pada prediksi laba manajemen sebagai pengganti bagian yang lain dari pemberitahuan sukarela karena untuk mencerminkan proyeksi manajer tentang prospek perusahaan...

Ratna Narulitasari

Munawar Muchlish Elvin Bastian

ABSTRACT 

This research aims to test empirically the association between errors in management forecast of subsequent year earnings and current year accruals, and investigate the influence of uncertainty environment in the association between management earnings forecast errors and accruals. This is an empirical research whose Purposive Sampling as collecting data’s method. Data’s obtained by take the secondary’s data from non financial companies which listing in Indonesia Stock Exchange (IDX). The hypothesis was analysed using Structural Equation Model (SEM) with the program PLS (Partial Least Square). The result indicate that there is a positive association between errors in management forecast of subsequent year earnings and current year accruals, and the uncertainty environment can’t moderated a positive association between management earnings forecast errors and accruals. 

Keyword : Voluntary Disclosure, Management Earnings Forecast Errors, Accruals and Uncertainty Environment

Hubungan antara Growth Opportunity dengan Debt Maturity dan Kebijakan Leverage serta Fungsi Covenant dalam Mengontrol Konflik Keagenan antara Shareholders dengan Debtholders

Language : Indonesia - SNA 13 PURWOKERTO  2010
Pages : 25 Halaman
Release Date : 2010
Harga : Rp. 20.000,- (softcopy CD) - Belum Ongkir


Penelitian ini menggunakan growth opportunity sebagai proksi adanya konflik keagenan di Indonesia. Proksi ini diharapkan akan menghasilkan varian baru dalam penelitian konflik keagenan di Indonesia.

Rhini Fatmasari. M.Sc 

ABSTRACT 

Agency conflict is a phenomenon that occurs when a firm is doing its financing policies, especially of those related to the leverage strategies. Some of the former researches revealed some empirical evidence of the existence of a negative effect between growth opportunity, leverage, and debt maturity as one of the efforts in controlling the agency conflict between stockholders and bondholders. By using panel data regression model and data observation for over six years, this research found that firms with high growth opportunity tend to use low leverage policies with short maturity to control the agency conflict between stockholders and bondholders. On the other hand, firms with low growth opportunity tend to use higher leverage policies with a longer period of debt maturity. Moreover, covenant as a moderating variable, could lower the negative relation between growth opportunity and leverage, but it could not diminish the negative relation between growth opportunity and debt maturity. Debt maturity and covenant also could not be use as substitution variable to lessen the agency conflict. 

Keywords: growth opportunity, leverage, debt maturity, covenant, stockholders and bondholders conflicts.

EQUITY RISK PREMIUM PERUSAHAAN YANG TERDAFTAR DI BURSA EFEK INDONESIA DAN FAKTOR-FAKTOR YANG MEMPENGARUHINYA

Language : Indonesia - SNA 13 PURWOKERTO  2010
Pages : 35 Halaman
Release Date : 2010
Harga : Rp. 20.000,- (softcopy CD) - Belum Ongkir

Penelitian bertujuan menguji pengaruh masa penugasan auditor, ukuran perusahaan, rasio book to market equity, leverage, beta, dan kualitas laba terhadap Equity Risk Premium.

Saiful

Uvi Elin Erliana

 (Universitas Bengkulu)

 ABSTRACT 

The purpose of this study is to examine the impact of tenure, company’s size, book to market equity, leverage, beta and earnings quality on company’s equity risk premium. Sample was taken based on purposive sampling method from Manufacture companies that listed in Indonesia Stock Exchange in the year 2005 to 2008. The final samples consist of 45 companies. This study found that book to market equity and leverage positively and significantly influence equity risk premium, while beta negatively and significantly influence equity risk premium. These findings indicate that equity risk premium increase as book to market equity increase, because the highest book to market equity ratio show that companies is not growth, so company’s risk will be high. Meanwhile, the highest leverage ratio show that companies have financial distress and its will increase the company’s risk. In contras, higher beta lead to lower equity risk premium, it may be effected by emerging market in Indonesia feature. 

Keywords: Capital Asset Pricing Model, Auditor Tenure, Book to Market equity, Leverage, beta, and Equity Risk Premium.

EFEK ENTRENCHMENT DAN ALIGNMENT PADA MANAJEMEN LABA

Language : Indonesia - SNA 13 PURWOKERTO  2010
Pages : 26 Halaman
Release Date : 2010
Harga : Rp. 20.000,- (softcopy CD) - Belum Ongkir

Bagaimana efek kepemilikan perusahaan terhadap manajemen laba?? Kepemilikan terkonsentrasi bisa jadi mendorong pemegang saham pengendali untuk melakukan ekspropriasi. Ekspropriasi adalah suatu proses penggunaan hak kontrol atau kendali seseorang untuk memaksimalkan kesejahteraan sendiri dengan distribusi kekayaan dari pihak lain....

I Putu Sugiartha Sanjaya 

Universitas Atma Jaya Yogyakarta 

Abstract 

The objective of this research is to investigate whether controlling shareholder manages earnings. The issue is most important to be revealed because ownership of public companies is concentrated and low protections for noncontrolling shareholders in Indonesia. Therefore, controlling shareholder is motivated to manage earnings. This research also investigates whether control rights of controlling shareholder positively influence earnings management. The issue relates to entrenchment effect. This research also investigates whether cash flow rights reduce earnings management. The issue relates to alignment effect. This research used data of ultimate ownership and financial statement. The data are collected from Indonesia Stock Exchange during 2001 to 2007. There are 786 year companies during seven years. This study documents that the control rights motivate the controlling shareholder to manage earnings. Control rights entrench controlling shareholder to manage earnings. It implicates the entrenchment effect. Cash flow rights negatively influence earnings management. It implicates the alignment effect. 

Keywords: entrenchment, alignment, control rights, cash flow rights, and earnings management

CORPORATE SOCIAL RESPONSIBILITY (CSR) DAN KINERJA PERUSAHAAN

Language : Indonesia - SNA 13 PURWOKERTO  2010
Pages : 28 Halaman
Release Date : 2010
Harga : Rp. 20.000,- (softcopy CD) - Belum Ongkir


Akhir-akhir ini topik mengenai Corporate Social Responsibility (selanjutnya disingkat CSR) banyak di bahas. Perusahaan di dunia maupun di Indonesia juga semakin banyak yang mengklaim bahwa mereka telah melaksanakan tanggung jawab sosialnya. Bagaimana kaitannya dengan kinerja perusahaan??

Kartika Hendra Titisari 

Eko Suwardi 

Doddy Setiawan 

ABSTRACT 

This research investigates the effects of Corporate Social Responsibility (CSR) on the firm performance. We analyse CSR based on the parameters: community, environment and employment and we use CAR as proxy of firm performance. Samples of this research consist of 32 annual reports of the companies which vulnerable to environment and joined the Company’s Environmental Performance Rating Program of the Ministry of Environment from 2005 to 2006. The results of the descriptive statistics show that there is an increase in the CSR index trend; if seen from its parameters, the CSR activities are much more done in the field of environment and community. Based on the correlation analysis, the variables of environment and community have a positive correlation with CAR; this indicates that information regarded by the investors to have effect on the corporate performances. On the other hand employment has a negative correlation with CAR, because this information is thought by the investors to be the corporate expenditures, which causes the damage of value in the stockholders. But, using regression analysis we do not find significant impact of CSR as well as community and environmental on the stock return. On the other hand, we find significant effect of employment on the stock return.

 Keyword : CSR, environment, community, employment, stock return, firm performance 

CORPORATE CONTROL AND FIRM PERFORMANCE: DOES THE TYPE OF OWNERS MATTER?

Language : Inngris - SNA 13 PURWOKERTO  2010
Pages : 24 Halaman
Release Date : 2010
Harga : Rp. 20.000,- (softcopy CD) - Belum Ongkir


Apakah struktur kepemilikan perusahaan berpengaruh terhadap mekanisme governance dan kinerja perusahaan? hal inilah yang dibahas dalam penelitian ini...

Muhammad Agung Prabowo* 

Universitas Sebelas Maret, Surakarta, Indonesia 

Abstract: 

The paper extends the ownership study by examining the different types of large shareholders in relation to its impact on organizational outcome in Indonesia using a dataset consisting of 190 non-financial companies listed in Jakarta Stock Exchange in 2002. The study investigates the effect of family ownership, foreign blockholder, domestic institutional shareholders, and the board of directors on firm performance. The results confirm the different impact of different large shareholders type on firm performance. Controlling family ownership is more likely to exacerbate agency problems while the presence of foreign investor is related to superior firm performance. Domestic blockholders is insignificantly related to firm performance. However, the interaction effect between family and domestic blockholders ownership is negatively related to firm performance, offering empirical evidence to the existence of interlocking blockholders in Indonesia to deprive minority shareholders from their rights. 

Keyword: Corporate Governance, Large Shareholders, Board Structure, Firm Performance

Analisis Pendekatan Nilai Wajar dan Nilai Historis Dalam Penilaian Aset Biologis Pada Perusahaan Agrikultur: Tinjauan Kritis Rencana Adopsi IAS 41

Language : Indonesia - SNA 13 PURWOKERTO  2010
Pages : 38 Halaman
Release Date : 2010
Harga : Rp. 20.000,- (softcopy CD) - Belum Ongkir

Saur Maruli dan Aria Farah Mita

Universitas Indonesia

This study discusses about the analysis of application of fair value and historical cost 

approaches used by agricultural companies in valuing their biological assets. The term of 

biological assets in this study refers to the biological assets possessed by agricultural 

companies specifically plantation companies. Due to IFRS convergence process done by IAI 

to adopt IAS 41, this study tries to give initial description by comparing both groups which

use different approaches in valuing the biological assets. The comparison is intended to figure 

out the existence of significant differences for the value of assets, return on assets, revenue 

and earnings for each group which uses two different approaches, respectively. The study also 

tries to prove the existence of larger income smoothing propensity in the group of companies 

using fair values approach instead of historical cost approach. Eventually, the study tries to 

prove the influence of the application of fair value approach to earnings volatility which is 

indicated to be higher than if we use the application of historical cost approach. By using 

statistical tests, analysis of variance and analysis of regression, we reach the result and  

conclusion that there is no significant differences in the value and volatility of the assets, 

return on assets, revenue and earnings for both different groups. The result and conclusion  

also explain that there is no significant influence of the application of fair value approach to 

the volatility of company’s earnings.

Key words:

Biological Assets, Fair Value, Historical Cost, IAS 41, Plantation