The Indonesian Journal of Accounting Research
Not a member yet
325 research outputs found
Sort by
Transfer Informasi Intra Industri di Sekitar Pengumuman Dividen
No full textInvestors in companies in the same industry as the announcing firm do extrapolate information from the announcement to make inferences about industry-wide economic prospects. The purpose of this study is to examine empirically transfer information intra-industry around reporter’s dividend changes announcement that is indicated by abnormal return of nonreporter firm. This study used sample of 90 nonreporter for dividend decreased and 82 nonreporter for dividend increased during 1994-1996 time periods. The statistic methods used to test hypothesis are t-test and multiple regression analysis.The result of the study shows that dividend change announcement having informational value for other firms in the same industry as dividend reporter. Further, there is competitive effect for dividend-decreased announcement. That is dividend decreased reporter is reacted positively by nonreporter. While for dividend-increased announcement, there is contagion effect. Nonreporter react positively or the same direction as the reporter’s reaction. Another finding show that the magnitude of dividend change, size of nonreporter firm couldn’t explain the magnitude of the transfer information
Analisis Determinasi Kinerja Reksa Dana Pendapatan Tetap di Indonesia Periode 1999-2003 (Penggunaan Model Jensen dan Model Gudikunst)
No full textThe objective of this research is to evaluate Bond Mutual Fund Performance in Indonesia and determine some variables that can affect Mutual Fund Performance. Mutual Fund Performance can be measured by using Jensen Model (1968) and Gudikunst Model (1992). The information about bond selection and market timing ability can be measured by using Henriksson - Merton Model (1981). Using Philpot Model (1998), this research examine Mutual Fund attributes that can determine Mutual Fund Performance. Finally, the results show that Bond Mutual Fund have been unable to outperform the market index on a risk-adjusted return basis. The market excess return shows surprising strength relationship to the portfolio excess return. Generally the sample of Bond Mutual Fund in this research show that portfolio manager has arbitrage opportunity to increase portfolio excess return due to wide range in yield spread, manage in large total asset size and conduct with passive strategy in their portfolio management. This underperform of Bond Mutual Fund Performance can be happened because portfolio managers do not have superiority skills in market timing and bond selection and also the differences of each Bond Mutual Fund attributes
Pengaruh Moderasi Dinamika Lingkungan pada Sistem Kontrol Akuntansi dan Kinerja Perusahaan
No full textContingency theory posits a strong relationship between accounting control system and organizational performance. In the past empirical studies, there were some contextual factors that moderating those relationship. The current study postulates and tests the moderating effect of environmental dynamism on the accounting control systems and performance nexus. The study finds that estimation result supports the hypothesis that there is moderating effect of environmental dynamism on the accounting control system and firm’s performance
Integrasi Bursa Efek Jakarta dengan Bursa Efek di ASEAN (Setelah Penghapusan Batas Pembelian Bagi Investor Asing)
No full textThe purpose of this study is to investigate the integration of BEJ with other ASEAN capital markets (Philippines, Malaysia, Thailand, and Singapore), after the abolishing of government regulation on September 1987 on the maximum limit of stock purchased by foreign investors in BEJ.On the contrary to the results of the previous researches using the data prior 1987, this study, implementing the stock index data from January 1998 to December 2001, shows that BEJ is integrated with other ASEAN capital market. The use of Johansen procedure of error correction model indicates that IHSG, KLSE, PSE, SETI, and SSI are cointegrated and have different magnitude of adjusted EC-term. This study concludes that a comovement exists among ASEAN capital markets
Kesempatan Bertumbuh dan Manajemen Laba: Uji Hipotesis Political Cost
No full textIn this paper, we test political cost hypothesis in Indonesian market. Political cost hypothesis said that some firms that are more vulnerable to political cost than the others manage income downward to avoiding the attention of government and regulator. In this context we evaluate firms with high investment opportunity set (IOS). Firm with high IOS faces more political cost than firm with low IOS. So it is hypothesized that they will be lowering income to minimize the political cost, like increasing demand of labor union, government intrusion, antitrust regulator and the other. Consistent with previous study, we find that firm with high investment opportunity set manage accrual downward to counter the potential government intrusions and to reduce the political cost
Konsekuensi Ekonomik dari Regulasi Akuntansi Goodwill: Pengalaman Australia
No full textThis study focuses on revealing the economic consequences of goodwill accounting regulation in Australia. It attempts to achieve three main purposes: (1) to reveal the relationship between bonus compensation plans and managers’ agreement/disagreement with Australian goodwill accounting standard, AASB 1013, (2) to examine the relationship between acquisition made by companies and managers’ agreement/disagreement with the accounting standard, and (3) to test whether there is a significant difference between managers’ and public accountants’ agreement/ disagreement with the standard. Data of this research were gathered through mail survey. Respondents participated include 80 accounting managers of publicly listed companies and 70 public accountants which, altogether, represent 50% response rate. The quantitative approach (independent sample t-test and ANOVA) is used to address the research questions. This study reveals that the goodwill accounting regulation in Australia has had economic consequences which have been evident by the finding that managers with bonus compensation plan showed greater disagreement (compared with managers without bonus compensation plan) in the duration of twenty years allowed to amortize goodwill. This is supported by further evidence that managers have shown significantly stronger disagreement with the goodwill standard compared to public accountants which were less likely to be affected by the goodwill accounting regulation
Pengaruh Independensi Auditor Terhadap Manajemen Laba untuk KAP Big 5 dan Non Big 5
No full textThis research examines the effect of auditor’s independence on the relationship between audit quality and earnings management. This research is different from prior research because it examines whether two auditor’s independence measures: non audit-services and auditor’s tenure affect the relationship between audit quality and earnings management (which is measured by using absolute discretionary accruals). Audit quality is classified as prior research, that is Big sized and non-Big sized firms. A correlation analysis uses to determine the relationship between audit quality and absolute discretionary accruals. Further, auditor’s independence is used as a moderating variable to determine the effect of the relationship between the two other variables. Using a sample of 131 firms listed on the Jakarta Stock Exchange, in Indonesia over the period 1998 to 2001, a significant negative relation between audit quality and absolute discretionary accruals was found. This finding support the hypothesis and is consistent with result from prior research. Independent t-test is used to determine the effect of non audit services and auditor tenure. Both variables give significant effect on the relation between audit quality and absolute discretionary accruals. The existence of non-audit services increases the value of absolute discretionary accruals both for Big and non-Big audit firms. On the other hand, the long tenure decreases the value of absolute discretionary accruals both for Big and non-Big audit firms
Pengaruh Konsentrasi Kepemilikan, Penggeseran Risiko dan Pentransferan Sumber Daya Trhadap Ekspropriasi Pemegang Saham Minoritas Perusahaan Pengakuisisi: Pengujian Empiris Terhadap Pergeseran Konflik Keagenan
No full textThis study provides empirical evidence of agency conflict shifting (La Porta et al. 1998, 1999) by investigates the influence of ownership concentration, risk shifting and tunneling on expropriation of acquirers’ minority shareholders. Sample in this study consist of 40 non financial and banking companies which perform internal acquisition during 1993-2002. Consistent with earlier prediction, the higher risk shifting, the higher expropriation of acquirers’ minority shareholders. Conversly, the evindences that ownership concentration does not significantly influence on, and tunneling has significantly negative influence on expropriation of acquirers’ minority shareholders are not consistent with ealier predictions. Additional test of dividend payment show that firm decreased the paid dividend to shareholders after performing internal acquisition. One of cause the decreasing is the existence of specific boundaries in debt contract to fund internal acquisition. These support agency conflict shifting prediction
Keadilan, Komitmen pada Tujuan, dan Job-relevant Information dalam Penganggaran Partisipatif
No full textThe relationship between participative budgeting and management performance has interested many researchers. Prior empirical studies, however, find inconsistent evidence. Shields and Shields (1998) suggest that budgetary participation does not have a direct effect on performance, but is rather conditioned on other intervening variables. The current study is aimed to investigate the interrelationship of participative budgeting with managerial performance through social, motivational, and cognitive factors. Data are collected by sending questionnaires to managers of service and manufacturing companies throughout Java. Only eighty-nine respondents fill the questionnaires. Using structural equation models, the current study finds that: (1) the direct relationship between participative budgeting and management performance is not statistically significant; (2) procedural fairness, but not distributive fairness, and job-relevant information statistically significantly affect the relationship between participative budgeting and management performance; and (3) goal commitment does not statistically significantly affect management performance
Accounting Beta as Ex Ante Uncertainty Proxy in Initial Public Offering
No full textThe purpose of this study is to examine the relation between accounting measures of total firm risk and the level f underpricing of initial public offerings (IPOs). A number of studies have shown an association between market and accounting betas. However, most of the studies are performed using a sample of large established firms for which both accounting and market betas can be computed. In case of IPO firms, market betas cannot be computed due to the data limitations associated with private firms. Due to limited information available prior to IPO dates, in particular financial reports, one has to use a proxy to measure risk in an IPO. Accounting variables have been prominently known as potential proxy for ex ante uncertainty in an IPO.Using a sample of 90 IPOs that went public during 1991-1997 at the Jakarta Stock Exchange, this study finds that the level of underpricing is determined by accounting beta, price to book value ratio and price earnings ratio. The IPO issue size has negative but insignificant association with the level of underpricing