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
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