The Indonesian Journal of Accounting Research
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The Impact of Perceived Performance Evaluation Formality on Managers' Behavior
No full textThis study examines the impact of perceived performance evaluation formality on subordinates' trust in a supervisor with three mediating variables: procedural justice, distributive justice, and feedback quality. In addition, this study examines the impact of a subordinate's trust in a supervisor on budgetary slack. Using a questionnaire survey method with 97 middle and lower level managers in an aerospace company as respondents, this study shows that procedural justice, distributive justice, and feedback quality do not mediate the relationship between the formality of the performance evaluation and subordinates' trust in their supervisors. However, this study finds that trust can reduce propensity to create budgetary slack
Analisis Hubungan antara Gabungan Proksi Investment Opportunity Set dan Real Growth dengan menggunakan Pendekatan Confimatory Factor Analysis
No full textThis study develops and makes composite observed variables from individual investment opportunity set (IOS) proxies into one latent variable using structural equation models with a confirmatory factor analysis approach. Three composite IOS proxies are then created based on some individual IOS proxies, namely price related IOS, investment related IOS and variance related IOS. These composite IOS proxies are correlated with the real growth to prove that the model has consistency and ability to predict the real growth.A confirmatory factor analysis results in all observed variables that make latent variables for each model at t+1 to t+4 show that they have a significant measurement model fit, except the composite IOS proxy based on variance.Correlation tests for all models show that the results are consistent with those of early studies that have positive corelation with real growth. Composite IOS proxy based on variance has strong positive dan significant correlation with real growth at t+1 and t+2. Composite IOS proxy based on price and investment have positive and significant correlation at t+1 to t+4
Ethical Judgment Manajer Terhadap Praktik Earnings Management
No full textEarnings management is an important, but controversial, issue in the business. While the majority of previous studies on the topic view from economic perspective, this current study investigates from ethical perspective. Specifically, this current study examines the ethical judgment of managers on various dimensions of earnings management practices.This study hypothesizes that difference types, materiality, periods of effect, consistency with generally accepted accounting principles, directions, and objectives of earnings management does not have effects on managers ethical judgment. The results, based on responses from managers studying at Master of Management Program, Gadjah Mada University, show that the types,materiality, and period of effect of earnings management have effects on the ethical judgment of the managers on the practice. On the other hand,a consistency with generally accepted accounting principles, directions, and objective of earnings management does not have effect on the judgment
The Examination of Reporting Channel Under Structural and Reward Model of Whistleblowing: An Experimental Approach
No full textThe objective of this research is to examine empirically the effectiveness of two different whistleblowing models (structural vs reward) in encouraging people to report wrongdoing or fraud. To achieve the objective, this study employs an experiment method, with 55 participants from two universities. The result shows that an anonymous channel under the structural model is more effective than a non-anonymous channel. Additionally, this study finds that the non-anonymous channel in the reward model is more effective than the anonymous channel
The Boom of Colonial Investment : Dutch Political Power in the History of Capital in Indonesia
No full textThe paper is historical. It seeks to explore an understanding of accounting in the range of social and political contexts. Michel Foucault’s theory of “power and knowledge” relations is used to analyse this historical contexts. It argues that the Foucaultian “power and knowledge” analysis could provide a richer way of looking and understanding an aspect of the development of accounting in social and colonial-political contexts in Indonesia. The paper focuses on the case of Indonesian accounting history under Dutch colonialism. It argues that during the period of radical change of the Dutch social and political administration in Indonesia, accounting policies were developed which supported its effect on the Dutch large capital domination and profit orientation in the Indonesian archipelago. The process of Dutch capital accumulation in Indonesia was not used to the welfare of indigenous Indonesians, instead the capital was accumulated to colonise economic territories and mass production
Hubungan Manajemen Laba Sebelum IPO dan Return Saham dengan Kecerdasan Investor sebagai Variabel Pemoderasi
No full textThe major purpose of this study is to investigate association be-tween earnings management before Initial Public Offerings (IPO) and stock's returns with investors sophistication as a moderating variable. Institutional ownership is used to proxy investors sophistication. The JSX's IPO companies from 1990 to 2002 were used as samples. The first sample was 75 companies which institutional ownership ? 40% and the second was 63 companies that institutional ownership ? 60%. Instrumental Variable Approach (Kang and Sivaramakrishnan, 1995) was used to detect earnings management.This study provides an evidence that issuers report unusually high earnings management around IPO (two years before and five years after IPO). Issuers used mean reversing strategy in two years before IPO period (income decreasing) for preparing earnings management in the next period (income increasing). Furthermore, this study documented a negative association between earnings management andstock's re-turns with investors sophistication as moderating variable. One inter-pretation of this finding is that high earnings management has substan-tial stock's returns consequences when investors sophistication factor was taken into account. This finding is consistent with the prior re-search developed by Balsam et al., 2002
Banking Acquisition : Acquirer's Aggressiveness and Stock Returns (A Case Study in the American Banking System)
No full textAkuisisi adalah salah satu strategi yang banyak diterapkan dalam upaya melakukan ekspansi. Perilaku ini secara teoritis memberikan suatu tanda (signal) kepada para pemegang saham. Sampai saat ini kesimpulan yang didapat tentang postif-negatif nya signal tersebut masih mendua. Akuisisi dapat memberikan signal yang positif, sehingga mendapatkan reaksi yang positif pula dari para pemegang saham, karena memberikan kesan bahwa perusahaan yang mengakuisisi berada dalam posisi yang sangat kuat. Sebaliknya, ia dapat pula memberikan signal yang negatif karena mendatangkan kekhawatiran akan beban baru perusahaan.Penelitian ini, dengan mengambil kasus di sektor perbankan di Amerika Serikat, bertujuan untuk mengetahui reaksi para pemegang saham terhadap agresivitas perusahaan (bank) dalam melakukan akuisisi. Dengan menggunakan prosedur event study, ditemukan bahwa segera setelah event (yakni pengumuman akuisisi), timbul abnormal return yang signifikan. Kemudian, dengan menggunakan analisis regresi berganda ditemukan bahwa tingkat agresivitas berhubungan positif (dan signifikan) dengan besarnya abnormal return
Pengaruh Orientasi Etika terhadap Komitmen dan Sensitivitas Etika Editor Pemerintah di Jakarta
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Set Kesempatan Investasi : Konstruksi dan Analisis Hubungannya dengan Kebijakan Pendanaan dan Dividen
No full textThe primary objective of this research is examining correlation of three kinds of IOS proxies with realized growth after period of measuring the IOS level (t+l until t+5). The three kinds of IOS proxies are single empirical rasio (market to book value of asset or MVABVA , market to book value of equity or MVEBVE, price to earning per-price or PER, capital expenditure to book value of asset or CAPBVA and capital expenditure to market value of asset or CAPMVA), instrumental variable (VIIOS) and factor score (Skor). The results of one tailed Spearman Rank Correlation analysis show that all of IOS proxies positively correlated with realized growth of sales t+l, book value of equity t+l and book value of asset t+1. The common indeks of IOS, VIIOS and Skor, in the average have higher correlation coeffisients than single ratio IOS level of a company has to be evaluated every one year, because realized growth t+2 and so on have not been able to be predicted yet exactly using all of alternates IOS proxies.All of alternates IOS proxies from the primary hypothesis are used to examine the explanatory power of IOS in financing and dividend policy model. The results show that the growth firms have lower financing (measured by ln market debt to equity) and dividend (measured by ln dividend yields) policy than non growth firms. Contracting cost hypothesis explains the empirical relationship between IOS level, financing and dividend policy.The size of growth companies measured by lg asset higher than non growth companies. Contracting cost and secured debt hypothesis explain that, large companies have higher debt financing policy (measured by ln market debt to equity) than little companies. My opinion is there is conversely explanation between contracting cost hypothesis about association between IOS and debt financing policy, contracting cost and secured debt hypothesis about association between size of companies and debt financing policy and the consistent phenomenon that the growth companies are the large companies. But the result about dividend policy is consistent with contracting cost and pecking order hypothesis that the growth (large) companies have lower dividend policy (measured by ln dividend yields) than non growth (little) companies