The Indonesian Journal of Accounting Research
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Analisa Free Cash Flow dan Kepemilikan Manajerial Terhadap Kebijakan Utang pada Perusahaan Publik di Indonesia
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Pengaruh Emosi Negatif dalam Pemilihan Alternatif Investasi Modal: Perbandingan Keputusan Individu dan Kelompok (Studi Eksperimen pada PTS di Surabaya)
No full textOne kind of managerial decision that affect organization's viability is capital investment decision. This decision needs long-term commitment from organization resources. Traditionally, managers choose capital investment project which give the highest expected financial return. This research will be conducted for two purposes. First, to test the effect of negative emotions (as one kind of non-financial factors) in capital investment decisions, and second, to test the effect of group decision in controlling the negative emotions' effect. A 2x2 mixed-subjects experimental design will be conducted to test Faculty of Economics' undergraduate students in randomly assignment. Between-subject factor is cases with and without emotional trigger events, while within-subjects factor is individual and group judgment task. Analyzed data using non-parametric statistical tests supported both hypotheses. This result consistent with prior research that suggests decision makers should consider both financial data and affect reactions when evaluating investment alternatives. Furthermore, management should also consider the effectiveness of group decisions
Analisis Komparasi antara Model Concern for Information Privacy dan Model Internet User's Information Privacy Concern: Konsekuensi untuk Proses Penyelarasan Managemen Database (Studi Empiris di Jogyakarta)
No full textThis research compares two models in information privacy domain. The research intends to find a refined model for behavioral dimensions of database management systems. The first model is Concern for Information Privacy (CFIP) and the second one Internet Users Information Privacy Concern (IUIPC). The research finds that both models do not fit for Indonesian users. This study finds empirical evidence that CFIP has medium-fit level and IUIPC has lower-fit level. Therefore, this study concludes that IT managers should be concerned with the relevant dimensions. Consequently, this research provides a new model that is more suitable for Indonesian users. The new model combines the two models and eliminates the irrelevant dimensions. The new model suggests that two out of five dimensions affect behavioural intention. It means that Indonesian users prefer to present their personal information privacy without considering control and anxiety. In addition, the study does not find that trusting belief mediate nor intervene the direct relationship between personal information privacy and the behavioural intentions. Finally, this research infers that contingent situations of Indonesian users have consequences on the alignment process of database management in the Indonesian firms
The Effect of Attitude, Strategy, and Decentralization on the Effectiveness of Budget Participation.
No full textManagerial Knowledge Sharing Behavior in the Commercial Banking Sector
No full textThis study investigates the antecedents and consequences of knowledge sharing using a survey method. This study focuses on testing the relationship of learning organization and IT support for the knowledge sharing, innovation, and performance. The respondents are middle managers from commercial banks; however non-managers are investigated too as a comparison analysis. A component based SEM using SmartPLS is adopted to test the data. The findings indicate that managers and non-managers have different perceptions of knowledge sharing. Trust in the supervisor and other members is important for the presence of motivation to share. Middle managers need to have a clear, shared vision to consider engaging in sharing. IT support for knowledge management does not have a direct impact on knowledge sharing but it has significant direct impact on firm innovation. Overall, the findings suggest that to leverage knowledge sharing activity in the organization we need to understand the stakeholder characteristics and their job positions. Also, socialization of the IT purpose in the knowledge management context is needed
Pengaruh Manajemen Laba Terhadap Biaya Modal Ekuitas (Studi pada Perusahaan Publik Sektor Manufaktur)
No full textThe objectives of the research is to find out empirical evidence of the influence of earnings management on cost of equity capital.The population of this study was listed companies in the manufacturing sector at the Jakarta Stock Exchange, and the sample was determined based on the following criteria: (a) the annual report ended 31 December, and (b) book value of equity is positive. There were 92 companies meeting the criteria. Data analysis was carried out in terms of pool cross-section covering annual financial report during 2001–2002. Earnings management were measured by ratio of working capital accruals with sales, and cost of equity capital was estimated by Ohlson model. The research hypotheses were tested using multi regression with beta risk and size as control variables.The results of this research show that (1) earnings management had positive significant influence on cost of equity capital, and (2) sensitivity analysis of earnings management proxy show that ratio of working capital accruals with sales is the best proxy compared with Healy model, modified Jones model and Jones Model
Pengaruh Manajemen Laba, Kepemilikan Manajerial, dan Ukuran Perusahaan pada Kesejahteraan Pemegang Saham Perusahaan Target Akuisisi
No full textThe main accounting issue in this research which can trigger wealth transfer from acquiring company's shareholders to target company's shareholders is earning management that was done during the last publication before the acquisition. Therefore, the purposes of this research are: (1) to test whether the target company's management performed earnings management by increasing the amount of earnings which was reported in the last publication before the acquisition announcement, (2) to test whether the earnings management which was done by the target company benefit their shareholders, (3) to test whether managerial ownership affects earnings management and the wealth of the target company's shareholders, and (4) to test whether the relative size of target company affects the wealth of the target company's shareholders.Hypotheses in this research were developed using agency theory as the main theory, which was supported by earnings management theory with the same motivations as this research such as bonus plan motivation, chief executive officer (CEO) change motivation, and Initial Public Offering (IPO) motivation, and Efficient Market Hypothesis.The sample for this research are target companies undergone successful acquisition in Jakarta Stock Exchange from 1990 to 2005. The sample consists of 54 target companies. The dependent variable of target companies shareholders' wealth, is represented by cumulative abnormal return (CAR) as the proxy, calculated by using the Market Model. The independent variable of earnings management is calculated by Modified Jones Model. The Ownership managerial variable is calculated by management ownership percentage on target company' shares, and company size variable is calculated as target company equity market value ratio on acquiring company equity market value. The research hypothesis is tested by t-test and ordinary least square regression test.The result of this research is: (1) the target company is doing earnings management by increasing discretionary accrual for the last publication just before the acquisition, (2) the positive effect of earnings management on target company shareholders wealth at the last publication just before the acquisition is bigger and more significant statistically compared with the previous period, (3) managerial ownership does not affect earnings management which is done by target company at the last publication just before the acquisition, (4) managerial ownership has positive effect and statistically significant on target company shareholders' wealth during the last publication just before the acquisition, and (5) the negative effect target company size on target company shareholder' wealth during the last publication just before the acquisition is bigger and statistically significant compared to the previous period
Pengaruh Pemisahan Hak AliranKas dan Hak Kontrol terhadap Dividen
No full textThe expropriation of minority shareholders by those of controlling shareholders is the main agency conflict in firms with concentrated ownership. The expropriation is obvious when cash flow and control rights are separated through pyramiding and cross-holdings. The ultimate ownership concept is used to identify the separation and investigate its implications on dividend. By using sample of firms listed in the Jakarta Stock Exchange for the period from 2000 to 2004, empirical evidence shows that cash flow and control rights do not go together but have different implications. The cash flow right concentration is an incentive to avoid expropriation. This can be seen from evidences of positive effects of cash flow rights on dividend. On the other hand, control right concentration is an incentive to generate private benefits through expropriation. This conclusion is supported by evidence of negative effects of control rights on dividend. When control rights exceed cash flow rights, the controlling shareholders have higher incentive to expropriate by participating in firm's management. The controlling shareholders' participation in management makes them more free to generate private benefits. The incentive, how ever is lower when a firm has the second controlling shareholder. The second controlling shareholder can mitigate the controlling shareholder's incentive to expropriate
The Impact of Accounting Methods for Transaction Gains (Losses) on the Earning Response Coefficients: The Indonesian Case
No full textThe objective of this study is to investigate the impact of accounting methods for transaction gains (losses) on earning response coefficients (ERCs). This study investigates whether investors respond differently to three accounting methods of the transaction gains (losses). The first method, based on benchmark treatment of Statement of Financial Accounting Standard (Pernyataan Standar Akuntansi Keuangan) No. 10, treats transaction gains (losses) as revenue (expense). The second, based on alternative treatment of Statement of Financial Accounting Standard No. 10 (Interpretation of Financial Accounting Standard No. 4), treats gains (losses) as partially capitalized accounts. The third, based on Capital Market Supervisory Agency regulation No. VIII G10, treats them as fully-capitalized accounts.This study uses the sample of 225 firms listed in the Jakarta Stock Exchange (JSE), during 1993-1999. The hypotheses are tested by applying two empirical models. The first, cumulative abnormal returns are regressed on unexpected earnings and annual return to find ERCs variable, that is, the magnitude of coefficients of unexpected earnings. The second, earnings response coefficients are regressed on transaction gains (losses), earnings persistence, earnings growth, earnings predictability, beta risk, capital structure, firm size and industry effect. Transaction gains (losses) are measured by using absolute value of the average of total transaction gains (losses).The results of this study show that the impact of transaction gains (losses) on earnings response coefficients is statistically significant; and that investors respond indifferently on the firms recognizing different methods of transaction gains (losses). This study, hence, primarily contributes to regulations of Capital Market Supervisory Agency (No. VIII G10) and Financial Accounting Standard Committee of the Indonesian Institute of Accountant (Statement of Financial Accounting Standard No. 10 and Interpretation of Financial Accounting Standard No. 4)