The Indonesian Journal of Accounting Research
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Anteseden dan Konsekuensi Tekanan Peran (Role Stress) pada Auditor Independen
No full textThis study examines antecedents to and consequences (outcomes) of role stress (role conflict and role ambiguity) experienced by independent auditors. Boundary spanning activities (BSA), perceived environmental uncertainty (PEU) and formalization are hypothesized to be antecedent to role conflict and role ambiguity, while job satisfaction, performance, job related tension and intent to leave are investigated as consequences of auditors’ role stress.The respondents are auditor independent. Data for the study were collected from 80 public accounting firms. The sampling method used is random sampling.In total 341 questionnaires were distributed, 91 were returned, for a response rate of 26,68 percent.Using Structural Equation Modeling of AMOS (Analysis of Moment Structure) Program, the result of this study indicates that BSA is a critical variable affecting role stress auditors experience on the job. PEU and formalization are not significant antecedent to independent auditors’ role stress. Role conflict and role ambiguity are related to several dysfunctional job outcomes. Role conflict is related to job satisfaction and job related tension, while role ambiguity is related to job performance, job satisfaction and intent to leave
The Effect of Management Compensation and Corporate Governance on Corporate Tax Management
No full textThis study investigates how corporate governance affects tax management behavior and contributes the literature on corporate governance. First, this study examines directors compensation and directors ownership, as corporate governance mechanism of a firm, in managing taxes to increase performance. Second, to the best of our knowledge, this is the first study in Indonesia investigating the link between managerial compensation to tax management. This study finds that directors ownership exhibits a significance relationship in reducing cash tax paid. But, directors compensation does not result lower taxes paid and it is seems not an effective mechanism in engaging tax management. Implementing corporate governance mechanism also will not result in lower taxes because corporate governance induces managers to be more careful in managing taxes
Analisis Hubungan Struktur Kepemilikan Manajerial, Nilai Perusahaan dan Investasi Dengan Model Persamaan Linear Simultan
No full textThe research is purported to observe the influence of managerial ownership and board size toward firm value and investment. The empirical examination is carried out in two regression model namely the ordinary least square which purpose to observe a non-monotonic relationship between the managerial ownership toward firm value and investment. The second regression model used a simultaneous equation system of the two-stage least square (2SLS) to observe if firm value and investment influenced by managerial ownership and board size.The results of empirical examination using OLS indicate that managerial ownership relationship and firm value are linear and negative and using 2SLS indicate a similar result with result of OLS regression. This result indicated that the managerial ownership constitute exogenous variable toward firm value. The next examination results in using OLS indicate managerial ownership cannot be predicting influence and using 2SLS the result is different by paramater estimation. The whole results gives evidence that managerial ownership constitute exogenous variable. The final examination result indicates that shareownership by board of director and a commissioner as exogenous variables toward firm value and investment
Kemampuan Laba dan Arus Kas dalam Memprediksi Laba dan Arus Kas Perusahaan Go Publik di Indonesia
No full textFinancial accounting information is used by potential users to make necessary economic decisions. Earnings and cash flow are some of the measure that show a firms successful management. Earnings are useful for measuring a firms performance, and estimating the representative earning, the risk of investing and the cash flow information key measures of liquidity. Accounting information, is not yet one of the fundamental analysis tools for trading in Indonesian Capital Market. However, with increased development, accounting information will be necessary for making important decisions in the capital market.The objective of the study was to test the relationship of the ability of financial information in predicting the benefit of equity investment that consists of earnings and cash flow. The first hypothesis is earning predictor is better than cash flow predictor to predict future earning. Second, earning predictor is better than cash flow predictor to predict future to predict future cash flow. Lastly, earnings have incremental prediction ability to cash flow.There were 288 financial statements of manufacturing firms for the period of 1989-1994 include as a sample. Earnings data used in the tests is from the period of 1989-1994 and cash flow data is from 1992-1994 period. The statistical method used in this research is linear regression. then T-test, regression coefficient, correlation determination and F-test on the 5% level significance. The autocorrelation tests show that there is no linear relationship between independent variables, and that there was no correlation between disturbance factors, because the Durbin Waston test shows value of 2.The statistical results show that earning predictor and cash flow predictor are both significant in predicting earning and cash flow one year ahead, The ability of earning predictor in predicting earning and cash flow is bigger than cash flow predictor, this is shown with the regression coefficient. Then is showed that a part from earnings being a tool for predicting earnings, it can be predict cash flows. The results of this research also show F-test is significant, which means that both predictors, earning and cash flow can be used for predicting earning and cash flow efficiently.Key Words: Auditors Ethical Orientation, Ethical Sensitivity, Professional Commitment, Organization Commitmen
The Role of Temporary Differences of Book Value and Tax-Based Earnings To Explain Earnings Persistence
No full textThe purpose of this study is to examine how temporary differencesof book value and taxes-based earnings explain earnings persistence.First, this study examines and showsthat temporary differences provide additionalinformation on earnings persistence.The study then examines twopotential causes of differencesofbook value and tax-based earnings, namelyearnings management and tax planning.This study concludes that firms suspectedof performing earnings management and having the differences inbook value and tax-based earnings, their earnings will be less persistent thanother firms. On the other hand, for firms suspected of performing taxplanning,their earnings will be more persistent. This study also examines themore dominant factor that causes differences of earnings forfirms in Indonesiaand found that the differences are more influenced by tax planningpractices rather than earnings management
Kebijakan Dividen Perusahaan yang Listing di Bursa Efek Jakarta (BEJ): Besaran, Strategi, dan Stabilitas Dividen
No full textThe objective of this research is to study the dividend policy in the Jakarta Stock Exchange (JSX) in lights of its magnitudes, strategy and stability. The magnitudes will be measured using simple descriptive statistic over 11 years (1992 – 2002) for each sector therein. Meanwhile a dividend payment strategy in conjunction with company’s earnings will be measured using multinomial logistic model. Finally the stability will be measured using Lintner Model (1956), utilizing panel data techniques. The result shows that over the observation periods, sector that pays dividend most out of its earnings is Consumption Goods Industry. On the other hand, sector that pays dividend less out of its earnings is Property and Real Estate. On the strategy side, the result on multinomial logistic model shows that when there is an increase in earnings, decrease in earnings, and negative earnings, most of the firms in JSX will follow the strategy of increasing, decreasing, and omitting dividends, respectively. Finally, using panel data on Lintner Model, firms in JSX generally follow unstable dividend policy, meaning that when there is a change in earnings, it will be immediately followed by a change in dividend payment. This results confirmed previous studies which conclude that firms in developing countries tend to follow an unstable dividend policy, while those in a well developed countries choose a stable dividend policy
Penggunaan Informasi Akuntansi untuk Memprediksi Return Saham: Studi terhadap perusahaan pemanufakturan dan nonpemanufakturan
No full textA set of financial statements (i.e. balance sheet, income statement, statement of retained earnings, and statement of cash flows) is not completely useful for users until they analyze the information contents in the financial statements in the forms of ratios analyses. O’Connor (1973) shows that financial ratio have a weak predicting power for estimating stock returns. Ou and Penman (1989) state that accounting information embodies fundamental information that is not captured by the market and reflected in stock prices. Machfoedz (1994) provides evidence that only several financial ratios are useful for predicting income no more than one year in advance. Zainuddin (1999) finds that certain financial ratios (some of which are used by Machfoedz) are not good predictors for estimating income growth one to two years foreward. The inconsistent results are due to the fact that dependent and independent variables are the outcomes of the same process (accounting process). These conflicting findings necessitate further investigation.The study examines whether financial accounting ratios are useful for predicting stock returns of manufacturing and nonmanufacturing companies one year to two years in advance. The contributions of this study are twofolds. First, the research provides valuable insights to investors concerning the usefulness of financial accounting ratios. The ratios are used in predicting stock returns or abnormal returns. Second, this study enrichs literature topics in the area of financial accounting.The results indicate that for manufacturing companies financial ratios are not useful for predicting stock returns one year foreward. However, several ratios are useful for predicting stock returns two years foreward. For nonmanufacturing companies the results show that financial ratios are not useful for predicting stock returns either one year or two years foreward.Other findings indicate that predictive power for two years in advance of financial accounting ratios are different between manufacturing and nonmanufacturing companies
Analisis Faktor-faktor yang Mempengaruhi Pilihan Perusahaan Terhadap Akuntansi Konservatif
No full textThe objective of this study is to investigate what factors influence firms selection of conservative accounting. The proposed hypotheses are: (1) The higher the firms ownership structure of the capital, the more likely the firms select a conservative accounting strategy, (2) The higher the frequency of the debt covenant abrogation, the more likely the firms select a less conservative accounting strategy, (3) The bigger expended political cost, the more likely the firms select a more conservative accounting strategy, and (4) Growing companies are more likely to select a more conservative accounting.The samples of the study are the manufacturing firms listed in Jakarta Stock Exchange. The data are collected using targeted sampling method. The number of the firms serving as the samples is 74 in 1995-2002.The results of the study indicate that in general Indonesian firms select conservative accounting method (76.9%). The influencing factors of the selection of the method are ownership structure, political cost and growth, while the debt covenant with the proxy of leverage is not the factor influencing the firms choice of it because the contract rarely takes place in the country.There are three conservative accounting proxies as suggested by Watts (2003), i.e. earning stock return relation measures, earnings accrual measures, and net asset measures. The study formulates assumed model based on the PSAK no. 14 (on stock), 17 (on depreciation), 19 (on amortization) and 20 (on R&D cost) to determine if the firms select conservative or optimistic accounting. Sensitivity analysis is made in the study to see the conservative proxy (Watt, 2003), which fits to the assumed model using t-test comparison coefficient across regression. Based on the results of the study, the net asset measures are the proxies that are appropriate to the assumed model proxy
Analisis Perataan Penghasilan (Income Smoothing): Faktor-Faktor yang Mempengaruhi dan Kaitannya dengan Kinerja Saham Perusahaan Publik di Indonesia
No full textThis research is designed to examine the income smoothing in Indonesia. Income smoothing can be defined as a means used by management to diminish the variabiity of a stream of reported income numbers relative to some perceived target stream by the manipulation of artificial (accounting) and real (transactional) variables (Koch, 1981). Two main isues investigated in this research were factors influencing income smoothing and the linkage between income smoothing and performance (return and risk) of public companies’ stocks in Indonesia.Seventy four listed companies in Jakarta Stock Exchange (JSX) selected using (purposive) judgement sampling method were used as research sample. The sample was then clasified into smoother and non smoother using Eckel’s model (1981). Eckel’s clasification uses three kinds of income as research objects: operating income, income before tax, and income after tax (net income). The result showed that there was income smoothing practiced by companies listed in JSX.Common and special statistical tests according to the hypothesis were used in this research. Common statistic includes descriptive statistics, normality data tests (with One Sample Kolmogorov Smirnov Test) and population tests (with Mann-Whitney U Test and t Test). All kinds of common statistical tests concluded that some data was distributed normally and the rest was not, eventhough those data came from the same population.The first hypothesis examined whether size, net profit margin, industrial sectors, and winner/losser stocks influenced income smoothing. Logistic regression was used to test this hypothesis and concluded that the first hypothesis cannot be rejected. The first conclusion stated that all factors hypothesized were not influence income smoothing. The second hypothesis examined whether there was return difference between smoother and non smoother. This hypothesis was tested with Independent Sample t Test and concluded that there was no return difference between smoother and non smoother. The third hypothesis examined whether there was risk difference between smoother and non smoother. This hypothesis tested with Independent Sample t Test. The last conclusion stated that there was no risk difference between smoother and non-smoother
Exploring the Presence of Beauty Cage in Accounting Education: Evidence from Indonesia
No full textAccounting education is presently trapped into reaching concepts of “beauty”. These represent masculinity and colonization. Currently, accounting education is regarded beautiful if it uses a masculine approach that relies greatly on rationalism and if it is used to control and maintain status quo through colonization. Paulo Freire’s dialogic education liberation, particularly coding as the first stage of reflection, namely Freirean Coding, is employed to define and explore the beauty cage. The article provides empirical evidence that such a cage exists in Indonesian accounting education. This research aims to awaken consciousness that accounting education must embark upon a change to liberate itself from the beauty cage