The Indonesian Journal of Accounting Research
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Value Relevance of Accounting Information and The Pricing of Indonesian Initial Public Offerings
No full textThe purpose of this study is to examine the relation between accounting measures of total firm risk and the value of firms making initial public offerings (IPOs). The existing explanations of the pricing of IPOs suggest that the value of IPOs is related to a number of fundamental accounting variables of the firms. A sample of 149 Indonesian IPO firms that went public during the period 1989-1997 is examined and is used to test the null hypothesis that the IPO’s price is not related to firm specific accounting risk measures.The results provide evidence that the IPOs’ accounting information is value relevant to the market price of the IPO. Earnings Per Share (EPS), Book Value of Equity (BVE), and financial leverage are significantly related to the level of offering price. The study concludes that the IPOs’ accounting information is value relevant about the offer and market prices of the IPO, which is in support to that of Kim et al. (1995) and Klein (1996)
Pengaruh Negosiasi dan Asimetri Informasi Terhadap Budget Outcomes : Sebuah Eksperimen
No full textAnggaran seringkali digunakan sebagai alat untuk perencanaan, koordinasi, alokasi sumberdaya dan juga digunakan untuk mengukur kinerja yang pada akhirnya digunakan untuk mengontrol dan mempengaruhi perilaku pihak-pihak yang terkait dengan penetapan dan pelaksanaan anggaran (yaitu superior dan subordinat). Di samping itu, banyak subordinat yang kompensasi insentifnya terkait secara langsung dengan anggaran dan pencapaian tujuan. Ketika insentif dan kompensasi terkait dengan anggaran, kecenderungan yang terjadi adalah munculnya perilaku opportunistik dari subordinat. Subordinat bisa memainkan budgeting games dalam upaya untuk memanipulasi informasi dan target guna mencapai bonus setinggi mungkin. Salah satu cara yang digunakan oleh subordinat dalam budgeting games adalah melalui proses partisipasi.Penelitian tentang dampak partisipasi anggaran terhadap kinerja subordinat telah banyak dilakukan. Satu hal yang belum dipertimbangkan adalah bahwa negosiasi merupakan salah satu konsekuensi logis dari partisipasi. Hal ini tampaknya sedikit sekali mendapat perhatian dikalangan peneliti. Dimotivasi oleh penelitian Fisher et al. (2000), secara khusus, penelitian ini bertujuan menguji pengaruh negosiasi dan asimetri informasi terhadap budget level dan kinerja subordinat yang diukur dari kesenjangan anggaran (budget slack) dan kinerja subordinat dalam menghasilkan output produksi.Hasil penelitian ini mengimplikasikan bahwa negosiasi dapat mempengaruhi subordinat dalam memegang komitmen organisasional dan kinerja mereka. Negosiasi juga merupakan sarana untuk melakukan transfer informasi dari subordinat ke superior sehingga memungkinkan superior untuk melakukan konsesi dalam proses negosiasi. Pengujian terhadap kinerja subordinat (yang diukur dengan kemampuan dalam menghasilkan produk) dalam 3 tingkatan asimetri informasi (high, low dan none) menunjukkan bahwa kinerja subordinat lebih tinggi secara signifikan ketika asimetri informasinya rendah (low) dibandingkan ketika asimetri informasinya tinggi (high)
Analysis of Factors That Affect Cost Consciousness in Non-Profit Organizations
No full textThe aim of this study is to examine the effect of formal authority structure,accounting information characteristics, work motivation and informal authoritystructure on cost consciousness mediated with manager behavior for decisioncontrol and decision management. The result of this study contributes to theorydevelopment, particularly with regard to behavioral accounting, and also contributesto managerial practices in improving expense effectiveness and efficiencythrough cost conscious behavior. The data of this study were taken from a nonprofit organization that provides educational services. The questionnaires weredistributed to middle managers and structural officers at the educational institutions.The data were collected by a contact person. There were 250 questionnairessent to respondents with a 62.8 percent response rate. Analysis was conducted byusing the Two Step Approach of the SEM technique with Amos. The result showsthat formal authority structure has been proven to positively affect manager behaviorin decision control and decision management. Accounting informationcharacteristics have a positive effect on manager behavior in decision control anddecision management. Work motivation is not shown to positively affect managerbehavior in decision control and decision management. Informal authority structureproved to positively affect manager behavior in decision control and decisionmanagement. Decision control and decision management proved to positively affectcost consciousness. Formal authority structure and informal authority structurehas not been proven to positively affect cost consciousnes
Tipe Lingkungan Pengendalian Organisasi, Orientasi Profesional, Konflik Peran, Kepuasan Kerja dan Kinerja: Suatu Penelitian Empiris
No full textExamining Mediating and Moderating Models on The Relationship Among Management Control Systems, Innovations, and Performance
No full textThe findings of previous research examining the relationship among management control system (MCS), innovation, and performance remain inconsistent (Bisble and Otley 2004; Chenhall et al. 2011, Dunk 2011). Davila et al. (2009) suggest that future research should focus on the empirical investigation of levers of control (LOC) theory to explain these inconsistent findings. In response to this suggestion, this study aims to examine the mediating and moderating model of the relationship among MCS, innovation, and performance. This study extends Bisble and Otley's study (2004) by using more comprehensive definition and measurement of research variables. Data are collected using mail and e-mail survey to controllers of manufacturing firms listed in the Indonesian Stock Exchange (IDX). Partial Least Square (PLS) is used to test the hypotheses due to its ability to test the presence of multiple dependence relationship of latent variables simultaneously (Hair et al. 2010; Kock 2011). The result of this study supports the mediation hypothesis that the MCS affects performance indirectly through innovation. Overall, this study contributes in explaining the inconclusive and contradictory findings of management accounting prior research
Capital Market Reaction to The Knowledge Management Initiatives; an Event Study
No full textFirms use knowledge management (KM) strategies to acquire, transfer, and share knowledge. Using an event study approach, this paper investigates the information content of three types of KM initiatives, and examines whether the 2000 stock crash affected the information content of those KM initiatives. The findings indicate that investors react positively to KM initiatives transferring knowledge across firms, and bringing expertise from external firms, but not KM initiatives related with the KM product awards. In addition, we find that the 2000 stock crash did not affect investors’ reactions to the KM initiatives announcements although the decrease of the reactions exists
Pelaporan Statistik Structural Equation Modeling:Temuan dari Tiga Jurnal Bisnis
No full textThere are extensive sets of statistics in structural equation modelling, particularly the covariance-based one. Researchers, therefore, may or may not report all these statistics due to some reasons. This paper aims to investigate the way these sets of statistics are reported in business journals. Data were collected from three business journals since 1998 until June 2003 editions. As a result, sample consisted of 12 papers were obtained, which then was analysed in two phases. Firstly, they were analysed in terms of the comprehensiveness of model fit report. Secondly, the report of other important statistics was also assessed. To conclude, this study indicates these papers present statistics of the structural equation modelling in many ways. Further, the findings call for more attention toward appropriate statistical reporting in this regard
Pengujian Efisiesni Pasar Bentuk Setengah Kuat Secara Keputusan: Analisis Pengumuman Dividen Meningkat
No full textThis research aims at examining the decisionally efficient market by analyzing dividend increase announcement at Jakarta Stock Exchange. The analysis includes three aspects: information content, speed of market reaction and accuracy of market reaction.The sample for this research is 132 firms during the period of 1992-1996. The analysis shows that on the announcement date market significantly gave positive reaction to dividend increase announcement. This reaction resulted in abnormal return of 0,3838%. This fact shows that the dividend increase announcement in Indonesia has an information content and market react quickly. To analyze the accuracy of market reaction, the sample is divided into 2 parts: growth and non-growth firms. The analysis then shows that market did not react significantly to growth firms and gave positive reaction to non-growth firms. Actually, market should give positive reaction to the growth firms only and negative reaction to the non-growth firms. Finally, the conclusion is that Jakarta Stock Exchange is not a decisionally efficient market
