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Analisis Perbandingan Manajemen Laba Sebelum dan Saat Covid-19 Pada Perusahaan Manufaktur di Bursa Efek
Get PDFAbstrakMemasuki kuartal pertama tahun 2020, dunia digemparkan dengan adanya virus corona yang menyebabkan perekonomian di dunia menjadi menurun termasuk di Indonesia. Perusahaan banyak mengalami penurunan penjualan yang berujung pada pengurangan laba dan bahkan terjadi kerugian, sehingga memicu dilakukannya manajemen laba pada tahun pandemi. Tindakan manajemen laba dilakukan guna mempertahankan kinerja perusahaan supaya tetap terlihat baik pada kondisi pandemi sehingga penelitian ini memiliki tujuan untuk meneliti perbedaan manajemen laba sebelum dan saat pandemi Covid-19. Pengukuran manajemen laba yang digunakan adalah discretionary accruals. Objek penelitian menggunakan perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia periode 2019-2020, dimana 2019 untuk mewakili kondisi sebelum pandemi dan 2020 untuk mewakili kondisi pada saat pandemi. Teknik analisis data memakai uji beda sampel berpasangan atau uji wilcoxon signed rank. Hasil penelitian disimpulkan bahwa terdapat perbedaan manajemen laba sebelum dan saat pandemi Covid-19. Pandemi Covid-19 terbukti membuat manajemen laba yang dilakukan perusahaan berbeda karena dalam keadaan saat pandemi banyak terjadi penurunan pada penjualan dan laba sehingga membuat manajemen laba di masa pandemi meningkat dibandingkan sebelum pandemi. Keywords: manajemen laba, pandemi Covid-19, kinerja keuanganAbstractEntering the first quarter of 2020, the world is shocked by the coronavirus which affected to decreasing world economics including Indonesia. Many companies experience a decline in sales that leads to a decreasing in profits and losses, thus triggering earnings management in the pandemic. Earnings management actions are taken to maintain good company performance so that it still looks good in pandemic conditions, so this study aims to examine differences in earnings management before and during the Covid-19 pandemic. Measurement of earnings management which used are discretionary accruals. The object of research uses manufacture companies which listed on the Indonesia Stock Exchange in the period 2019-2020, where 2019 represents conditions before pandemic and 2020 represents conditions during pandemic. The data analysis technique used by different sample pair test or wilcoxon signed rank test. And then the results of this study state that Covid-19 pandemic make earnings management different. Throughout the pandemic there was a lot of decline in sales and profits, so that earnings management during the pandemic increased sightly compared to before the pandemic.Keywords: earnings management, pandemic Covid-19, financial performanc
ANALISIS PERBEDAAN TINGKAT KONSERVATISME SEBELUM DAN SESUDAH KONVERGENSI IFRS PADA PERUSAHAAN PROPERTI, REAL ESTAT, DAN KONSTRUKSI DI BURSA EFEK INDONESIA
Get PDFThe company, which is listed on the Indonesia Stock Exchange (IDX), are required to prepare financial statements based on accounting principles contained in the conceptual framework. One of the principles used is accounting conservatism. Before the convergence of IFRS, the measurement elements of financial statements based on historical cost, where the cost of that happened in the past is used as the basis for the present recording. After convergence of IFRS, these measurements changed using professional judgment in which the assessment is more optimistic because the company may recognize changes in the value of an element of financial statements in accordance with fair value. Therefore, this study aimed to analyze the differences in the level of conserva-tism before and after the convergence of IFRS on company property, real estate, and construction in the period 2006-2007 and 2012-2013 which is listed on the IDX. The results showed that there was no difference in the level of conservatism before and after IFRS convergence. IFRS allows companies to keep using conservatism if the method can produce the best information that can be achieved by the company. Currently the company is in a situation of high uncertainty, the company will tend to be more conserva-tive. Conservatism is also considered to be able to resolve agency problems that occur, namely the existence of information asym-metry in the preparation of financial statements that give rise to opportunities for companies to manage earning
FAKTOR-FAKTOR YANG MEMPENGARUHI DESAIN SISTEM PENGENDALIAN MANAJEMEN (Studi Empiris Pada Perusahaan Berstandar Nasional Indonesia)
Get PDFInformasi akuntansi berperan efektif dalam mendukung proses manajemen dan informasi akuntansi manajemen dan sistem pengendalian manajemen. Beberpa faktor situasional dapat mempengruhi desain sistem pengendalian manajemen Ada enam faktor yang mempengaruhi desain sistem pengendalian manajemen yaitu lingkungan bisnis, teknologi,struktur organisasi, ukuran organisasi, strategi bisnis, budaya yang sering disebut kontektual atau variable kontinjensi yang digunakan pada pendekatan enelitian ini ingin menguji apakah lingkungan bisnis, teknologi,struktur organisasi, ukuran organisasi, strategi bisnis, budaya mempengaruhi desan sistem pengendalian manajemen. Penelitian ini menggunakan sampel perusahaan manaufaktur yang memiliki sertfikat SNI di Indonesia. Penelitian ini merepresentasikan sampel penelitian secara random 26 manajer dari hasil mail survey. Hasil penelitian menunjukkan bahwa lingkungan bisnis, teknologi,struktur organisasi, ukuran organisasi, strategi bisnis, budaya mempengaruhi desan sistem pengendalian manajemen. Beberapa factor tesebut dapat menciptakan konflik pada desain sistem pengendalian manajemen Organisasi harus peka terhadap faktor situasional
PENERAPAN PSAK KONVERGENSI IFRS TERHADAP RELEVANSI NILAI INFORMASI AKUNTANSI DAN ASIMETRI INFORMASI PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BEI
Get PDFIFRS is an accounting standard that emphasizes the use of fair value. The use of fair value is a fulfillment of “relevance” qualitative characteristics, so IFRS can increase the value relevance of accounting information. Value relevance of accounting information is measured using price model and return model. IFRS also requires the “full disclosure”, so that the use of IFRS can reduce the information asymmetry. Currently, IFRS has been converged into PSAK. IAI establish that the convergence of IFRS which refers to IFRS effective January 1, 2009 was implemented on January 1, 2012. Therefore, the aim of this study is to examine and analyze whether the implementation of PSAK-IFRS convergence can improve the value relevance of accounting information and make a difference in information asymmetry. The research design for the value relevance of accounting information is descrip-tive. While for information asymmetry is qualitative with hypothesis. The object of the research is manufacturing companies listed on the Indonesian Stock Exchange in 2010-2013 with a sample of 50 companies selected by purposive sampling technique. Tech-niques of data analysis used are simple linier regression, multiple linier regression, and Wilcoxon test. The results showed that based on price model, the use of PSAK-IFRS convergence can increase the value relevance of accounting information. While based on the return model, the implementation of PSAK-IFRS convergence can not increase the value relevance of accounting infor-mation. The results of this study also showed that there is no information asymmetry difference before and after implementation of PSAK-IFRS convergence
ANALISIS PERBEDAAN RELEVANSI NILAI DAN ASIMETRI INFORMASI SEBELUM DAN SESUDAH KONVERGENSI IFRS PADA PERUSAHAAN MANUFAKTUR DI BURSA EFEK INDONESIA
Get PDFIFRS is an international standard which has two main characteristics, namely fair value and principle based. The use of fair value resulted in financial report’s relevance, which resulting any differences in the value relevance of accounting information. In addi-tion, the characteristic of the principle-based IFRS requires more extensive disclosure to produce financial statements that are more faithful representation and it would also inflict a difference in information asymmetry. IFRS convergence in Indonesia has been initiated since January 1st, 2009 and was implemented on January 1st, 2012. Therefore, this study is aimed to analyze the difference between the value relevance and information asymmetry on the stage before and after the IFRS convergence. The re-sults showed that there is a difference in the value relevance of accounting information on the stage before and after the conver-gence of IFRS. In addition, there are differences in the asymmetry of information before and after the convergence of IFRS, there-fore the convergence of IFRS proved to enhance the value relevance of accounting information and decrease the asymmetry of information on manufacturing companies listed in Indonesian Stock Exchange so that the convergence of IFRS can improve the quality of financial statements because it helps the financial statements to be more relevance and faithful representation
Creating Shared Value: Relationality Perspective
No full textCreating shared value shows that the company is able to align the company's competitive policy, profit-oriented businesses, while improving the social and economic welfare of the communities where the company operates by incorporating social issues into the company's strategy. This is a form of connection between the company and the society where the company's daily operations are related to the society so that the company has society welfare. This literature study discusses about the creation of shared value from a relationality perspective. A harmonious relationship between the company and the society will bring advantages and benefits to the company and society, where the company will gain a competitive advantage while increasing the welfare of the society and this can improve the company's image in the eyes of the society so that it can improve the company’s sustainability in the future.
Keywords: Creating Shared Value, Relationalit
PENGARUH KONTRAK UTANG, BIAYA POLITIK, DAN ASIMETRI INFORMASI TERHADAP KEPUTUSAN REVALUASI ASET TETAP
Get PDFThe revaluation model had been regulated in PSAK Number 16 and is believed to be more relevant as it presents the asset value according to its true value so it is expected to generate a market response due to an increase in asset value. Therefore this research aims to examine and analyze the effect of debt contracts, political costs, and information asymmetry on fixed asset revaluation decisions. Additional tests were conducted to analyze differences in market responses of firms that revalued fixed assets and did not revalue fixed assets. The research design is based on quantitative research using hypothesis and used quantitative data in the form of financial statements, announcement date of financial statements, closing prices, and Indonesia Composite Index. The research object is all manufacturing companies listed on the IDX in 2012-2016. Data analysis technique for the main model is logistic regression and data analysis technique for the additional test is the Mann-Whitney U test. The result of the research indicates that debt contract has no effect on fixed asset revaluation, political costs have a positive effect on fixed asset revaluation, and information asymmetry has a negative effect on fixed asset revaluation. The additional test proves that there is no difference in the market response of the company that did the revaluation and did not revalue because the increase in asset value was not due to the increase in performance so that the revaluation of the fixed asset is not considered as useful information
Asimetri Informasi, Corporate Social Responsibility, dan Intellectual Capital terhadap Nilai Perusahaan
Get PDFThe company aims to increase profits every year to show good company performance in order to attract investors. With the increase in profits, it is expected that the dividends distributed to investors will also increase, thus attracting other investors who have not invested their capital to look at the company's shares. Ultimately, the demand for shares from this company will increase, which of course will have an impact on increasing the company's share price and increasing the company's value as well. Company value is closely related to stock prices, when the company's share price increases, the company's value will also increase, and vice versa. This study aims to analyze the effect of information asymmetry, corporate social responsibility, and intellectual capital on company value. The objects of the study are companies listed on the LQ45 index on the Indonesia Stock Exchange. Data analysis uses multiple regression analysis. The results of the study indicate that information asymmetry has a negative effect on company value, while corporate social responsibility and intellectual capital do not affect company value.Perusahaan bertujuan meningkatkan laba setiap tahunnya untuk menunjukkan kinerja perusahaan yang baik agar menarik perhatian investor. Adanya peningkatan laba diharapkan dividen yang dibagikan ke investor juga meningkat sehingga memancing investor lain yang belum menanamkan modalnya untuk melirik saham perusahaan tersebut. Pada akhirnya, permintaan akan saham dari perusahaan ini akan meningkat yang tentunya akan berdampak pada meningkatnya harga saham perusahaan serta meningkatkan nilai perusahaan pula. Nilai perusahaan memiliki kaitan erat dengan harga saham, ketika harga saham perusahaan mengalami peningkatan maka nilai perusahaannya juga akan meningkat, demikian pula sebaliknya. Penelitian ini bertujuan untuk menganalisis pengaruh asimetri informasi, corporate social responsibility, dan intellectual capital terhadap nilai perusahaan. Objek penelitian adalah perusahaan yang terdaftar di indeks LQ45 di Bursa Efek Indonesia. Analisis data menggunakan analisis regresi berganda. Hasil penelitian menunjukkan bahwa asimetri informasi berpengaruh negatif terhadap nilai perusahaan, sedangkan corporate social responsibility dan intellectual capital tidak berpengaruh terhadap nilai perusahaan
Pengaruh Struktur Kepemilikan, Kinerja Keuangan, dan Ukuran Perusahaan terhadap Financial Restatement
Get PDFFinancial statements contain useful information for stakeholders regarding the company’s financial condition and are used as the basis for decision making. Therefore, financial statements must prepared appropriately, high quality and reflect the actual conditions of the company so that they can be relied on for users of financial statements. Financial restatements are presented on accrual basis so it can increase manager’s flexibility in recording economic events. This flexibility can cause misstatement of information in the financial statements caused by changes in accounting required by accounting standards and indications of management fraud to act opportunistically, causing the company to undertake financial restatements. Therefore, the aim of this study is to examine and analyze the effect of ownership structure, financial performance, and company size on financial restatement. The object of research is manufacturing companies listed on the Indonesia Stock Exchange (IDX) with the research period 2014-2018. The results showed that the ownership structure in the form of managerial ownership and institutional ownership had no effect on financial restatement, while foreign ownership had a negative effect on financial restatement. Financial performance in the form of profitability, leverage, and activities has no effect on financial restatement. Company size has a positive effect on financial restatement.Laporan keuangan berisi informasi yang berguna bagi pemangku kepentingan mengenai kondisi keuangan perusahaan dan digunakan sebagai dasar pengambilan keputusan. Oleh karena itu, laporan keuangan harus disusun dengan tepat, berkualitas, dan mencerminkan kondisi perusahaan yang sebenarnya sehingga dapat diandalkan bagi para pengguna laporan keuangan. Financial restatement disajikan dalam basis akrual sehingga dapat meningkatkan fleksibilitas manajer dalam mencatat peristiwa ekonomi. Fleksibilitas ini dapat menyebabkan salah saji informasi dalam laporan keuangan yang disebabkan oleh perubahan akuntansi yang dipersyaratkan oleh standar akuntansi dan indikasi adanya kecurangan manajemen untuk bertindak secara oportunistik sehingga menyebabkan perusahaan melakukan financial restatement. Oleh karena itu, tujuan dari penelitian ini adalah untuk menguji dan menganalisis pengaruh struktur kepemilikan, kinerja keuangan, dan ukuran perusahaan terhadap financial restatement. Objek penelitian adalah perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia (BEI) dengan periode penelitian 2014-2018. Hasil penelitian menunjukkan bahwa struktur kepemilikan berupa kepemilikan manajerial dan kepemilikan institusional tidak berpengaruh terhadap financial restatement, sedangkan kepemilikan asing berpengaruh negatif terhadap financial restatement. Kinerja keuangan dalam bentuk profitabilitas, leverage, dan aktivitas tidak berpengaruh terhadap financial restatement. Ukuran perusahaan berpengaruh positif terhadap financial restatement
EKSPROPRIASI PEMEGANG SAHAM MINORITAS DALAM KEPEMILIKAN ULTIMAT PENGARUH PEMISAHAN HAK ALIRAN KAS DENGAN HAK KONTROL TERHADAP NILAI PERUSAHAAN
Get PDFConcentrated ownership embedded in publicly-owned companies’ organizational structure could trigger the expropriation of mi-nority shareholders. Such expropriation happens when the control rights are bigger than the cash flow rights held. Separation between the two could be approached using a number of ownership mechanisms, such as pyramid ownership and cross-holding. Based on the concept of ultimate ownership, the objectives are to examine and analyse (1) the impacts of cash flow rights and control rights on the firm value, and (2) the extent to which the involvements of controlling shareholders in top management and the presence of second controlling shareholders as moderate variables influence the phenomena explained. The research design is quantitative. The target research population is Indonesian publicly-owned companies listed in the Indonesian Stock Exchange between the years 2007-2011. Samples are collected using purposive sampling technique accumulating to 1,895 observations with a 10% cut-off point on the control rights. Statistical evaluation are done through multiple regression tool. It was found that the controlling shareholders’ cash flow rights positively affect firm value, whilst control rights do not have any significant impact. The involvements of controlling shareholders in top management as moderate variable could amplify the negative effect of cash flow right leverage towards firm value, whereas calibration of those effect with the presence of second controlling shareholders as moderate variable does not yield significant results as was firstly hypothesized
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