abs trak

The 2nd Accounting Conference, 1st Doctoral Colloquium, and Accounting Workshop Depok, 4-5 November 2008

Bridging the Gap between Theory and Practice

AIS01

THE ADOPTION OF TAILOR-MADE IT-BASED ACCOUNTING SYSTEMS WITHIN INDONESIAN SMES FROM ACTOR NETWORK THEORY PERSPECTIVE

Samiaji Sarosa Atma Jaya Yogyakarta University

Abstract

This paper examines the adoption of tailor made computerized accounting systems within 11 SMEs. The analysis was conducted using theoretical framework proposed by Slappendel (1996) which is interactive process. Interactive process argues that adoption of innovation (IT in particular) should be viewed as an interactive process between individual member, organization, and its environment. One of the emerging theories within interactive process is Actor Network Theory (ANT) proposed by Latour, Callon, and Law (Callon 1986, 1999; Latour 1987, 1988, 1999; Law 1999). ANT defines adoption process as progressive constitution of a network in which both human and non-human actors assume identities according to prevailing strategies of interaction. Actors' identities and qualities are defined during negotiations between representatives of human and non-human actors. The most important of these negotiations is `translation`, a multi faced interaction in which actors: construct common definitions and meanings, define representatives, co-opt each other in the pursuit of individual and collective objectives. ANT classified adoption process as four stages process, namely problematisation, interrestment, enrolment, and mobilization. We used qualitative approach to gather data, analyze and draw conclusion. We argues that ANT is better in explaining the adoption of IT compared to other model due its ability to identified not only the factors but also the process of adoption.



AIS02

PENGARUH FAKTOR INFORMASI TERHADAP KEPUASAN KERJA DI KANTOR AKUNTAN PUBLIK (KAP)

Studi atas Faktor Nutrient Information dan Information Consciousness

Agnes Utari Widyaningdyah Universitas Widya Mandala Surabaya

Abstract

Accounting firms, as information provider, are directly impacted by the manner by which information is managed. Prior research was held in Australia, United States, and Japan indicates that information which measured by nutrient information and information consciousness construct impact job satisfaction among accountants in Accounting firms. This research investigates the influence of information factor was measured by nutrient information and information consciousness construct toward job satisfaction in accounting firms at Jakarta and Surabaya. Data was collected using questionnaire and 105 respondent was participate. The result after controlling for demographic factors, provide strong effect of nutrient information on job satisfaction, but information consciousness is not. This result means that accountants need information to increase their expertise via senior/supervisor’s feedback and recognition of performance achievement. On the other side, accounting firms are not facilitate their staff yet in order to access the information needs. Keywords: Accounting firm, Public accountant, Nutrient information, Information consciousness, Job satisfaction



AIS03

THE IMPACTS OF ENTERPRISE RESOURCE PLANNING (ERP) IMPLEMENTATION ON ACCOUNTING PROCESS: AN EXPLORATORY STUDY

Mahlindayu binti Tarmidi @ Tokhid Azwan bin Abdul Rashid

College of Business Management and Accounting Universiti Tenaga Nasional

Sultan Haji Ahmad Shah Campus

Abstract The rapid development in information technologies and increase in demand for up-to-date information had forced companies to shift their activities towards computer based processes. In order to accommodate high demand for instant information generation, enterprise resource system (ERP) is able to integrate numbers of different module to serve this requirement and able to offer lower operating cost and high customer satisfaction. This research is to examine how ERP systems have influenced the accounting process in a business. Through questionnaires to 181 publicly listed companies in Malaysia, the study is expected to determine the companies’ reasons for adopting ERP system and the changes that the system has brought in. The study also aims to lay down the benefits enjoyed by the companies as a result of the system implementation. The empirical evidence state that there are significant changes in the companies’ accounting process and practice after the implementation of the system.



TAX01

THE ABILITY OF DEFFERED TAX EXPENSE IN DETECTING EARNINGS

MANAGEMENT AT THE MANUFACTURE COMPANIES LISTED IN

THE JAKARTA STOCK EXCHANGE

Dr. Hj. Rahmawati

Mutiara Sholikhah

Universitas Sebelas Maret

Abstract

This research was intended to obtain an empirical evidence if deferred tax expense is able to detect the company probability in running the earnings management to avoid an earnings decline and to compare the ability of the deferred tax expense to the three accrual models (Total Accruals, Modified Jones Model, Forward looking Abnormal Accrual) as parameter of earnings management. The hypothesis which were presented by the researcher were (1) the deferred tax expense is useful to detect the company probability in running the earnings management to avoid an earnings decline, (2) the higher the company accrual is the higher the company probability in running the earnings management to avoid an earnings decline, (3) the factors causing earnings management can explain the deferred tax expense as a parameter of earnings management better than the accrual models. The research subjects are 43 manufacture companies registered in the Jakarta Stock Exchange, and publishing financial report audited consistently in 2000 – 2004. The data collecting was done with purposive sampling method. The statistical method applied was regression binary logit. The research result shows that deferred tax expense can be used to detect the company probability in running the earnings management to avoid an earnings decline. The three accrual models have positive and significant coefficient that means the higher the company accrual is the higher the company probability in running the earnings management to avoid an earnings decline will be. The factors causing the earnings management are not influential to the deferred tax expense. It also showed that only the variable of profitability (ROA) and the size of company which are significantly influential to the three accrual model.

Key Words: deferred tax expense, three accrual models, earnings management.



TAX02

SELF-ASSESSMENT SYSTEM DI INDONESIA: SUATU KAJIAN EKSPLORATIF TENTANG TAX NONCOMPLIANCE

PERUSAHAAN-PERUSAHAAN DI INDONESIA

Christine Siti Nuryanah

Universitas Indonesia

Abstract

Tax is one of the most important aspects in one country, both in developed countries and developing countries. In Indonesia, tax revenue plays a major role in financing the country’s development. Therefore, it is important to examine the tax aspects in one country’s system. The small number of tax research in Indonesia has encouraged the researchers to undertake an explorative study related to the tax non-compliance in Indonesia.

This paper examines the effectiveness of self-assessment tax system in Indonesia. It focuses on the specific research on accounts in taxpayer’s income statement that are frequently adjusted by the tax auditor during tax audit process. Furthermore, it also discusses the reasons that cause those audit adjustments.

Further, this paper finds that the tax non-compliance behaviours of taxpayers can be traced into some accounts. General and administrative costs are the accounts that are most frequently adjusted by the tax auditor during tax audit process. Next, costs of good sold and sales are the second and the third accounts frequently corrected by the tax auditor. Then, this paper reveals that the main reason why the tax auditors adjust the taxpayer’s income is because of the lack of evidence or supporting documents. The other tax adjustment’s reasons are an inadequate tax knowledge of the taxpayers, specific method of tax audit which leads to the different tax payable amount from the tax auditor’s sides, absence from arm’s length transaction, and no bookkeeping kept by the tax payer.

In addition, this paper also finds that the taxable income difference (i.e. the difference between the taxable amount calculated by the taxpayers and by the tax auditor) is significantly influenced by the amount of company’s turn over, listed/non-listed factor and type of industry (manufacture/non-manufacture). However, the amount of company’s assets does not significantly influence the taxable income difference. Keywords: Tax, self-assessment system, book-tax difference, tax non-compliance, tax payer, tax audit, tax auditor.



TAX03

FAKTOR-FAKTOR YANG MEMPENGARUHI VARIASI TARIF PAJAK EFEKTIF PERUSAHAAN:

Studi Terhadap Perusahaan Yang Terdaftar Di BEI Perioda 2002 – 2006

Gatot Soepriyanto Bina Nusantara University

Abstract

This paper analyzes the determinants of variability in corporate effective tax rates (ETRs) in a multivariate framework, using 2002 – 2006 Indonesian listed companies’ micro-level data. Specifically, I examined the association between effective tax rates (ETRs), firm size and variable proxying for firm’s capital structures and asset mix while controlling from profitability. This study’s present evidence that ETRs are associated with the asset mix (level of capital intensity and inventory intensity) and return on assets. However, results also show that ETRs are not associated with size and firm’s capital structure. Additionally, I controlled industry membership in sensitivity analysis because these firm specific characteristics might differ systematically by industry. To ensure the robustness of the result, diagnostic check was also performed. Related to the 2008 tax law amandement, this research can contribute to tax authority in order to identify firms that still have the potential to pay more taxes by looking at their capital intensity and inventory intensity. Keywords: Effective tax rates, firm size and asset mix



PSAC01

ANALISIS KARAKTERISTIK PEJABAT PENATAUSAHAAN KEUANGAN TERHADAP ETIKA PENYUSUNAN LAPORAN KEUANGAN

SATUAN KERJA PERANGKAT DAERAH (SKPD)

Zaenal Fanani Universitas Airlangga Surabaya

Rizka Mudyanti

Didied Poernawan Affandi Universitas Brawijaya

Abstract

The aim of this research is to examine and find out the empirical evidence of PPK SKPD characteristic analysis (locus of control, work experience, gender, the understanding of system and procedure, equity sensitivity) toward the financial report arranging ethic of SKPD of the local government of Jombang.

The population used in this research is the person of accounting function in local goverment of Jombang that consists of treasurer and PPK SKPD. The samples chosen are 47 PPK SKPD of the local government of Jombang in official department, committee, office subdistrict. The validity of the data was tested by implementing Pearson Product Moment. The reliability of the data was tested by implementing the Cronbach Alpha. The normality of the data was tested by implementing the Kolmogorov-Smirnov Goodness of Fit Test. Mann Whitney U-Test is used for hypothesis test. Statistic package for Social Sciences (SPSS version 15,0).

The result of the research shows that there is a significant difference between PPK SKPD with the internal locus of control and PPK SKPD with the external locus of control; there is no significant difference between senior PPK SKPD and junior PPK SKPD; there is no significant difference between the male and female PPK SKPD; there is a significant difference between PPK SKPD which are categorized as the benevolents PPK SKPD and the entitleds PPK SKPD toward financial report arranging ethic.

Key word: Locus of Control, Work Experience, Gender, Equity Sensitivity, Financial Report Arranging Ethic.



SAC02

FENOMENA ILUSI FISKAL DALAM KINERJA ANGGARAN PEMERINTAH DAERAH (Studi pada Kabupaten dan Kota se Jawa-Tengah)

Puspa Dewi Ekaristi1

Priyo Hari Adi2

Fakultas Ekonomi Universitas Kristen Satya Wacana Salatiga

Abstract

This study aimed to find the tendency the existence of fiscal illusion. Local governments do manipulations for not maximizing their own revenue(Pendapatan Asli Daerah) and increasing expenditures, in order to get central government transfer (Dana Alokasi Umum) in large amount.

The result of this study shows the existence of fiscal illusion after the implementation of local autonomy. Through income measurement analysis, fiscal illusions exist on incomes such as local taxation and indirect taxation. While through expenditure manipulation analysis, fiscal illusions exist on the ratio of national income which is given by central government to the local government. Key Words : Autonomy, fiscal illusion, central government transfer, expenditure manipulation.

1 Alumni Fakultas Ekonomi Universitas Kristen Satya Wacana Salatiga. Email : [email protected] 2 Staff Pengajar Fakultas Ekonomi Universitas Kristen Satya Wacana Salatiga. Email : [email protected]

mailto:[email protected]

mailto:[email protected]



PSAC03

VARIABEL ANTESEDEN DAN KONSEKUENSI PEMANFAATAN SISTEM INFORMASI

(Studi Empiris Pada Pemerintahan Kabupaten di Pulau Madura)

Denovita Dwi Ellyana Achyar Redy Ardi Hamzah

Universitas Trunojoyo

Abstract

The purpose of this research are (1) to gave to empirical evidence that performance expectancy, effort expectancy, sosial factors, fit to task and conditions which fasilitating user will effect level of usage of information system, and (2) to gave to empirical evidence that interest to usage of information system will effect using information system. The respondents of the research are employment that using information technology system in finishing it job. Data has gathered by questionnaires and documentation. Sample total is 50 respondent. The result of research with partial regression indicate that variables of antecedent namely performance expectancy, effort expectancy, and conditions which facilitating using information system significantly effect on interest using information system, while social factors and fit to task not significantly effect on interest using information system. The result of research with partial regression indicate that variable of consequence namely using information system significantly effect by interest using information system. Key words: performance expectancy, effort expectancy, social factors, fit to task, fasilitating user, usage of information system



MACC01

PENGARUH KOMITMEN, PERSEPSI, DAN PENERAPAN PILAR DASAR TOTAL QUALITY MANAGEMENT TERHADAP KINERJA MANAJERIAL

PADA BUMN MANUFAKTUR DI INDONESIA.

Hiras Pasaribu UPN Veteran Yogyakarta

Abstract

This research means to discover the influence of commitment of top management and the perception of division manager about total quality management (TQM) and the implementation of fundamental base of it toward the effectiveness of the quality cost control (QCC) and its implication to the managerial performance at manufacture based BUMN ( state’s company) in Indonesia. Survey Populate method is implemented to 28 manufactures in Indonesia. The using data consist of primary which taken by questionnaire and the secondary data which support this research. Then, the hypothesis tested by Path Analysis. Based on the result discovered that: (1) there are no correlations between the commitment of top management, the perception of division manager, and the implementation of fundamental base of TQM at manufacture based BUMN; (2) simultaneously and partially, the commitment of top management, the perception of division manager, and the implementation of fundamental base of TQM, they have influence toward the effectiveness of QCC; and (3) the implications of both simultaneously and partially of commitment of top management, the perception of division manager, and the implementation of fundamental base of TQM and the effectiveness of QCC have influence to the managerial performance. Keywords: Commitment, perception, TQM, quality cost, and performance.



MACC02

INTENSITAS KOMPETISI PASAR DAN BUDGET EMPHASIS PADA HUBUNGAN ANTARA PARTISIPASI DAN SENJANGAN ANGGARAN

Yulius Kurnia Susanto Sekolah Tinggi Ilmu Ekonomi Trisakti (Trisakti School of Management)

Abstract

The research examines the intensity of market competition and budget emphasis on the relationship between budgetary participation and slack. Forty four managers from hotel industry in Jakarta had participated in the research. The collecting data used a questionnaire survey via electronic-mail. Data were analyzed using a two-way analysis of variance. The results showed that the relationship between budgetary participation and slack were dependent on the intensity of market competition and budget emphasis. Under low levels of the intensity of market competition, budgetary participation had a positive effect on budgetary slack, but under high levels it had a negative effect. The higher budget emphasis, the more positive was the relationship between budgetary participation and slack. Keywords: Intensity of market competition, budget emphasis, budgetary participation and slack.



MACC03

PENGARUH JOB INSECURITY, KEPUASAN KERJA, DAN KOMITMEN ORGANISASIONAL TERHADAP KEINGINAN BERPINDAH KERJA

(Studi Empiris pada Staf Pengajar Akuntansi Perguruan Tinggi Swasta Kristen se-Jawa Tengah dan Daerah Istimewa Yogyakarta)

Intiyas Utami Nur Endah Sumiwi Bonussyeani

Universitas Kristen Satya Wacana Salatiga

Abstract

Lecture is claimed to execute Tri Dharma Perguruan Tinggi such as education and learning, research, and devotion to society. In executing the job, perhaps lecture the feels uncomfortable, nervous, insecure, worry, and powerless toward continuity his of job (job insecurity). The higher of job insecurity, the lower job satisfaction and organizational commitment become, so that it causes turnover intentions.

This research purpose to know the influence of job insecurity toward turnover intentions directly, the influence of job insecurity through job satisfaction and organizational commitment toward the turnover intentions. The taken sample as object research is the accounting lectures at Christian Universities of Central Java and Special District of Jogjakarta. Technical taken sample was convenience sampling, using survey method. This research uses simple regression method and multiple regressions to find out job satisfaction and organizational commitment as the intervening variable.

The results of the research show that job insecurity has positively and significantly influences toward turnover intentions, and the results also show that job insecurity through job satisfaction and organizational commitment significantly and negatively influence to turnover intentions. Keyword: job insecurity, job satisfaction, organizational commitment, and turnover intentions.



MACC04

KETERKAITAN ANTARA KEPUASAN KERJA, TURNOVER, PENINGKATAN KARIR, DAN SIFAT KEPRIBADIAN BERDASARKAN GENDER

DI KANTOR AKUNTAN PUBLIK

Zaenal Fanani Universitas Airlangga Surabaya

Oktarano Sazano

Badan Pemeriksa Keuangan RI Surabaya

Lilik Purwanti Universitas Brawijaya Malang

Abstract

Interest from an academic viewpoint in research in gender in accounting has grown since the mid-1980s from an initial focus on discrimination to a wider perspective on gender and accountancy. This experiment analyzes, compares, and describes how relationship between job satisfaction, turnover, career progression, and personality traits of male and female accountants in public accounting firms.

Descriptively, the result of this experiment shown that job satisfaction, turnover, career progression and personality traits relate to each other. It is also found the variable of sex stereotype of male and female accountants as significantly differ, while other variables i.e. job satisfaction, turnover, career progression, and career progression have no significant differences.

Thus, it could be conclude that there’s no difference as basically of Indonesian’s male and female accountants eventhough still the number of female accountant more than their male colleague in two lower level position in public accounting firm but for upper level the number of female accountant less than their male colleague. There are two main reasons they are renumeration and lower career progress. It is suggested that leaders of public accounting firm should pay attention on gender in public accounting firm if they do not want to lose their professional workers. Key Words: Gender, Job satisfaction, Turnover, Career progression, Personality Traits.



FACM01

KUALITAS PELAPORAN KEUANGAN: FAKTOR-FAKTOR PENENTU DAN KONSEKUENSI EKONOMINYA3

Zaenal Fanani Universitas Airlangga

Abstract

The research aimed to discuss the determinant factors of financial reporting quality and the economic consequences in Indonesian capital market. Those factors are innate, performance, company risk and industry risk. The financial reporting quality was measured attributes are relevance, timeliness, and conservatism as market-based, whereas the economic consequence was measured of assymetric information.

The research employed three steps of testing, namely (1) testing of the attributes of financial reporting quality were different from each other, (2) analyzing the determining factors of financial reporting quality and (3) testing the effect of financial reporting quality in the stock market in terms of the relationship between information asymmetric and the financial reporting quality.

The result of the first testing showed that all of the two attributes of financial reporting quality were different from each other. The analysis of determinant factors showed that sales volatility, firm performance, and classification of the industry had a significant relationship with two attributes of financial reporting quality. The other variables such as operation cycle, firm size, company risk, liquidity, and leverage, resulted in two attributes of financial reporting quality. The economic consequence testing resulted in two attributes of financial reporting quality that had a significant relationship with the assymetric information.

Key word: financial reporting quality, innate factors, performance, company risk, industry risk, asymmetric information.

3 This study is a part of my dissertation at Brawijaya University. I would like to express my deepest

thanks to my promotor Prof. Dr. Bambang Subroto, SE., MM., Ak., Prof. Dr. Sutrisno, SE., M.Si., Ak. And Dr. Prihatassih, SE., M.Si., Ak



FACM02

DETERMINAN KESALAHAN PERAMALAM LABA MANAJEMEN DAN HUBUNGANNYA DENGAN UNDERPRICING

Studi Empiris pada IPO Disclosure di Bursa Efek Jakarta

Florensia Yunita S Alumni Program Pascasarjana Ilmu Akuntansi FE UI

Yanthi Hutagaol *)

Fakultas Ekonomi Univesitas Kristen Indonesia

Irwan Ekaputra Magister Manajemen FE UI

Topic: Financial Management or Capital Market Research

*) Coresponding author



FACM03

HUBUNGAN ANTARA STRUKTUR MODAL DENGAN KINERJA PERUSAHAAN (Ditinjau dari Agency Cost hypothesis dan Efficiency-Risk Hypothesis

Vs Franchise-Value Hypothesis)

Arie Wibowo Pascasarjana Ilmu Akuntansi FE UI

Abstract

Purpose of this study is to examine agency cost theory on the impact of capital structure to firm performance using accounting data, Return on Asset (ROA) and examine efficiency-risk hypothesis and franchise-value hypothesis on the impact og firm performance to capital structure using 2-stage least square (2LS) because of considering causal relation and some control variables such as ownerships structure, firm size, growth and liquidity firm strategy. This paper find that Ordinary Least Square (OLS) model result much better than 2LS model, so OLS regression is used to be analyzed. In other words, capital structure influence firm performance but not at reverse, so this study cannot examine efficiency-risk hypothesis and franchise-value hypothesis but only agency cost hypothesis. The results are capital structure, firm performance and liquidity strategy are positively correlated with firm performance, but ownerships structure and growth strategy are not.

Keywords: capital structure, firm performance, agency cost, efficieny-risk, franchise-value, 2LS



FACM04

ANALISIS PENGARUH VOLATILITAS ARUS KAS, MAGNITUDE ACCRUAL, VOLATILITAS PENJUALAN, LEVERAGE, DAN SIKLUS OPERASI

TERHADAP KUALITAS LABA

Zaenal Fanani Universitas Airlangga

Angga Yudiwinata Putra

Arum Prastiwi Universitas Brawijaya

Abstract

This research is aimed to examine and find out empirical evidence of the influence of cash flow volatility, magnitude accrual, sales volatility, leverage, and operating cycle with earning quality. Samples used in this research are manufacturing companies listed in Indonesia Stock Exchange (BEI) in five years observation period 2001-2006. Total samples are 141 companies. The data are collected using purposive sampling method. Proxy of earning quality used is earnings persistence is measured using annual coefficient regression (AR1 model). Cash flow operation is measured using degree of variant cash flow or index of variant distribution cash flow. Magnitude accrual is measured using variant from earning minus cash flow operation and quotient by total asset. Sales volatility is measured using degree of variant sales or index of variant distribution sales. For leverage is measured using financing leverage that is, total liability quotient by total asset. And than for operating cycle is measured using receivables and inventory turnover for one period accounting. The analysis of this research used is double linier regression analysis. The results of path analysis shows that, first, cash flow volatility, magnitude accrual, sales volatility, leverage, and operating cycle according to simultaneous is influence of earning persistence. And the second is influence of cash flow volatility, magnitude accrual, sales volatility, leverage, and operating cycle according to partial or individual with earnings persistence. The variable of magnitude accrual, leverage, and operating cycle have negative and significant influence with earnings persistence. And for cash flow volatility the influence with earnings persistence is negative and not significant. For sales volatility the influence with earnings persistence is positive and not significant. Keywords: Cash Flow Volatility, Magnitude Accrual, Sales Volatility, Leverage, Operating Cycle, and Eanings persistence



FACM05

ANALISIS FAKTOR-FAKTOR YANG MEMPENGARUHI PENETAPAN ASUMSI AKTUARIA DAN PENGARUH ASUMSI AKTUARIA

DALAM IMBALAN KERJA KARYAWAN TERHADAP EARNINGS RESPONSE COEFFICIENT

Ludovicus Sensi Wondabio Tuti Yustiana Humairo


Abstract The objectives of this research are to examine the determinants that drive the choice of actuarial assumptions, primarily the discount rate and the future salary increase; and to examine the effects of actuarial assumptions choices on the earnings response coefficient (ERC) for companies listed at Indonesia Stock Exchange (IDX) in 2006. This research shows a big spread for actuarial assumptions determined by companies in IDX. Discount rate ranging from 6% until 13% while future salary increase ranging from 2% until 15%. However the results showed that no variables that have significant effect to the determinations of discount rate. While profitability has positive effect to the determination of future salary increase assumption. Furthermore, this study also showed that actuarial assumptions have negative effect to ERC. The result of the study indicate that investors ignore the actuarial assumptions disclosed in the financial report and Investors still respond to earnings information for their investment decisions. The results of this research would enhance our understanding of how these choices are made and can shed light on how firms behave in response to accounting regulation. Knowledge gained from a study such as this can offer valuable input to accounting standard setting to develop more restrictive accounting and auditing standards that would offer fewer opportunities for firms to manipulate pension data using these actuarial assumptions. Key Words: Actuarial assumptions, discount rate, future salary increase, cumulative abnormal return (CAR), earnings response coefficient (ERC).



FACM06

REVISITED: THE ROLE OF ACCOUNTING INFORMATION OF LQ45 FIRMS ON EQUITY VALUATION AFTER THE ASIAN ECONOMIC CRISIS

Yanthi Hutagaol Universitas Kristen Indonesia

BINUS Business School

Edwin Pranatio BINUS Business School

Abstract

This study aims to revisit the role of accounting information on equity valuation after the Asian economic crisis. The accounting information examined including earnings, cash flows, and book value of equity. The sample is the end of 2002 LQ45 listed in IDX during 2003-2007 period. The result shows that the accounting information plays a significant increasing role after the Asian economic crisis, in which earnings is to have a strong explanatory power, while book value of equity has a weaker value relevance. The analysis of change in cash flows shows mixed result.



FACM07

PENGARUH ARUS KAS OPERASI, INFLASI, SUKU BUNGA DAN PEERUBAHAN NILAI KURS VALUTA ASING TERHADAP RETURN SAHAM DENGAN

PERSISTENSI LABA SEBAGAI VARIABEL MODERATING

Adi Juardi Universitas Indonesia

Abstract

Penelitian ini mencoba untuk menggabungkan analisis fundamental perusahaan dengan ekonomi makro untuk menduga return saham perusahaan. Variabel fundamental perusahaan yang dipergunakan adalah Arus Kas Operasi dan Persistensi Laba sebagai variabel moderating. Sedangkan variabel ekonomi makro meliputi Inflasi, Suku bunga dan Perubahan Kurs USD terhadap Rupiah. Model yang dipergunakan adalah Pooled Data. Sedangkan data yang dikumpulkan adalah perusahaan-perusahaan terbuka dalam kelompok industri manufaktur mulai tahun 1999 sampai dengan 2004.

Penulis menggunakan 3 model, yaitu Model I dengan variabel bebas Arus Kas Operasi dan Persistensi Laba sebagai variabel moderating, Model II dengan variabel bebas ekonomi makro, dan model III penggabungan dari model I dan Model III. Hasil analisis data menunjukkan bahwa terdapat masalah multikolienaritas terhadap variabel Suku Bunga, karena itu, varaibel tersebut dikeluarkan dari model II maupun model III. Penggunaan Pooled Data, menunjukkan bahwa baik model I, mdel II maupun model III penggunaan Fixed Effect lebih sesuai.

Hasil penelitian menunjukkan bahwa pengaruh arus kas operasi terhadap harga saham dengan persistensi laba sebagai variabel moderating, sehingga hipotesis penelitian tidak mendapat dukungan empiris. Penggunaan variabel inflasi dalam menduga return saham perlu dicermati, karena pengaruhnya tidak konsisten. Dilihat dari Adjusted R-square, ternyata model III yang menggabungkan variabel fundamental perusahaan dengan variabel ekonomi makro lebih baik jika dibandingkan dengan model I atau model II. Kata Kunci : Fundamendal perusahaan, ekonomi makro, Arus Kas Oparasi, Persistensi Laba, Suku Bunga, Inflasi, perubahan Kurs USD terhadap Rupiah dan Pooled Data.



FACM08

DAMPAK STOCK SPLIT TERHADAP LIKUIDITAS SAHAM DI BEJ: Observasi Periode Juli 1998-Juni 2004

Ignatius Roni Setyawan Mahasiswa Program S3 FE-UI Jurusan Manajemen

Abstract This study has aim to re-exam the effectiveness of liquidity hypothesis in stock split. Liquidity hypothesis is defined as the returning stock price to the optimal trading range and the beginning many odd-lot investors become to round-lot investors. Based on model of Ekaputra & Putri (2006); which stressed on the association price, trading volume & volatility of stock toward relative spread, I begin to conduct this research. I guess model of Ekaputra & Putri (2006) was the most effective. Because not only it can prove the evidence of liquidity hypothesis in stock split of Indonesian Capital Market but also can make reconciliation about pros & cons at the previous research. My test of liquidity hypothesis consist two levels such as: 1) Paired t-test among stock price, trading volume, volatility and liquidity before and after stock split. 2) OLS-test focuses on the consistency at model of Ekaputra & Putri (2006). By supporting the study from Kim, et.al (2007) and Dyl & Elliot (2006), I include Amihud’s Illiquidity as an alternative proxy of liquidity and start to add the ratio of stock split in analysis. However I do not forget to bring the dummy variable of stock split as in model of Ekaputra & Putri (2006). Because I have motivation to expand the model of Ekaputra & Putri (2006) i.e. begin to consider and analyze the interaction between dummy variable of stock split and independent variables. According to paired t-test, I find generally alternative hypothesis of liquidity are accepted. Stock price and volatility has decreased after stock split, while trading volume was on the contrary. The liquidity of stock is almost decreasing, unless proxy of relative spread. My finding is consistent with Fatmawati & Asri (1999) and perhaps Conroy, et.al. (1990). Then in OLS-test; I indicate the effect of stock price and trading volume toward liquidity has the appropriate sign with the alternative hypothesis especially in data panel of decreasing of tick-size & the ratio of non 2:1. Volatility of stock has only significant effect toward Amihud’s illiquidity during stock split. I have an argument about this findings i.e. my proxy of volatility is different with Ekaputra & Putri (2006) and the uniqueness of relative spread that tend to increase after stock split. In analyzing from dummy variable of stock split and the interaction with independent variables based on Ekaputra & Basharat (2006); I find only significant impact in price variable at the decreasing tick-size group and ratio non 2:1. My result is consistent with Ekaputra & Putri (2006) that state event of stock split has more significant role toward liquidity in this group. The phenomenon of my study is liquidity of stock during stock split has been most-controlled by trading volume. Finally the implication is stock split can improve the level of relative spread as the better liquidity proxy than Amihud’s Illiquidity. Keywords: Stock Split; Liquidity Hypothesis; Relative Spread; Amihud’s Illiquidity



FACM09

PENGARUH JENIS INDUSTRI, NEGARA, AKTIVA TETAP, TINGKAT PERTUMBUHAN, GDP DAN INFLASI TERHADAP

PENGGUNAAN HUTANG PERUSAHAAN

Cynthia Afriani Utama Universitas Indonesia

Ahja Haziqo

Program Pascasarjana Ilmu Manajemen Fakultas Ekonomi Universitas Indonesia

Abstract The study investigates whether the level of financial leverage is affected by industry type, country characteristics, tangibility, growth opprotunities, the interaction between tangibility and growth opportunities, and macroeconomic factors (measured by the level of inflation and GDP per capita). The sample includes listed firms in the lodging and software industries and from Indonesia, Malaysia, and Singapore. The study finds that growth opportunities negatively affect the level of financial leverage, but this negative effect weakens as the use of fixed assets (i.e., tangibility) increases. Beside that, the lodging firms have more leverage than the software firms. Further, the study finds that higher GDP per capita and lower inflation rate translate to lower use of debt. Keywords : capital structure, lodging firms, software firms, tangibility, growth



FACM10

ACCOUNTING FOR RESTRUCTURING UNDER COMMON CONTROL ENTITIES: AN ANALYSIS OF THE IMPLEMENTATION OF ACCOUNTING STANDARD

Edi Eko Cahyono Desi Adhariani


Abstract

This paper addresses the issue of restructuring transaction under common control entities. Based on the Indonesian accounting standard, this transaction does not make any substantial changes in the economic ownership, even though ownership of shares, assets or liabilities or other instruments of ownership changes. Revision made in 2004 which is a revision to accounting standard number 38 year 1997 concerning restructuring accounting under common control entities is actually a move to improve the quality of financial statement in order to face transparency required in corporate management.

This paper analyses a series of cross ownership transactions done in PT X and Y. These transactions, using similar accounting standard, result in different implementation in the financial statements of the two companies. The analysis done includes the qualitative characteristics of the quality of the two companies’ financial reports. To compare the circumstances, similar analysis is also made to companies listed in the Jakarta Stock Exchange (JSE) making the same restructuring transactions. The status of government as common control entity is also taken into account, related to the control that the government has in the companies’ business activities.

The result of the research as well as the analysis shows that there is a weakness of The Indonesian Accounting standard number 38 (Revision of 2004), particularly related to the absence of transition regulations which results in different financial reports, both in the transaction of cross-ownership made by PT X as well as PT Y and by other listed companies in the Jakarta Stock Exchange. Different financial statements have reflected different performances, manifested in significant amount.



FACM11

PENGARUH PENGUMUMAN MERGER BURSA EFEK JAKARTA DAN BURSA EFEK SURABAYA

TERHADAP HARGA DAN VOLUME PERDAGANGAN

Ulfi Maryati Politeknik Universitas Andalas

Sylvia Veronica Siregar


Abstract

The aim of this paper is to investigate the effect of Jakarta Stock Exchange (JSX) and Surabaya Stock Exchange (SSX) merger announcement on abnormal return (AR) and trading volume activity (TVA). The announcement consists of three event dates: (1) SSX Extraordinary General Meeting of Shareholders agreed to merge with JSX on Desember 6 th, 2006, (2) signing the agreement of merger of SSX and JSX at Annual General Meeting of Shareholders on October 30, 2007, and (3) the first day operational of Indonesia Stock Exchange on Desember 3rd 2007. Our samples consist of 45 LQ-45 firms. The event window of the research is 11 days (t-5, t-0, and t+5) and 5 days (t-2, t-0, and t+2). The results using either 5 trading days or 11 trading days event window show that the market give a positive reaction (there is significant increase in AR and TVA after event date compared to before event date) regarding the merger announcement between SSX and JSX. Keywords: merger announcement, abnormal return, trading volume activity



FACM12

PENGARUH LEVERAGE TERHADAP VALUE OF THE FIRM PADA DIVERSIFIED FIRMS DAN SPECIALIZED FIRMS

( Studi Empiris di BEI )

M.F Christiningrum Universitas Indonesia

Abstract

Penelitian ini ingin melihat pengaruh leverage terhadap value of the firm pada perusahaan yang tergolong Diversified Firms dan Specialized Firms. Sampel penelitian terdiri atas 33 diversified firms dan 27 specialized firms (perusahaan yang tidak memiliki perusahaan induk dan anak yang multi segment). Periode pengamatan sampel dimulai dari tahun 2003 – 2005. Hasil penelitian atas 60 perusahaan yang tergolong dalam 12 industri di Bursa Efek Indonesia menunjukkan bahwa variabel profitabilitas ( yang diproksi dengan EBIT) memiliki hubungan negatif signifikan dengan excess value, hal ini menunjukkan bahwa semakin besar keuntungan perusahaan semakin memiliki kecederungan untuk menurunkan nilai perusahaannya. Hal ini sangat bertentangan dengan teori yang menyatakan bahwa Nilai Perusahaan sangat dipengaruhi oleh tingkat profitabilitas perusahaan tersebut. Adapun DUMMY yaitu proksi yang menunjukkan bahwa kelompok perusahaan yang terdiversifikasi memiliki kemampuan untuk meningkatkan value of the firm perusahaannya lebih tinggi dari kemampuan rata-rata perusahaan dalam kelompok specialized, meskipun hasil menunjukkan memiliki hubungan positif namun tidak signifikan. Tanda positif pada Size, PPE, CAPEX dan CFO juga konsisten dengan teori value of the firm, dimana perusahan akan memiliki kemampuan untuk meningkatkan nilainya sejalan dengan pertumbuhan Total Asset nya, belanja Investasi dan Kapital sebagai usaha untuk melakukan ekspansi usahanya. Dan ini terbukti berpengaruh dari arah positif yang dihasilkan penelitian ini.



EDU01

FAKTOR-FAKTOR YANG MEMPENGARUHI MINAT MAHASISWA AKUNTANSI UNTUK MENGIKUTI PENDIDIKAN PROFESI AKUNTANSI (PPAk)

(Studi empiris di Universitas Indonesia)

Riani Nurainah Lisnasari Fitriany

FEUI

Abstract

Penulisan ini bertujuan untuk mengetahui faktor-faktor yang mempengaruhi minat mahasiswa akuntansi Fakultas Ekonomi Universitas Indonesia (FEUI) untuk mengikuti PPAk dan untuk mengetahui apakah ada perbedaan minat mengikuti PPAk di antara mahasiswa pria dan mahasiswa wanita. Faktor-faktor tersebut yaitu motivasi kualitas, motivasi karier, motivasi ekonomi, motivasi gelar, motivasi mengikuti Ujian Sertifikasi Akuntan Publik (USAP), biaya pendidikan, serta lama pendidikan PPAk.

Hasil penulisan menunjukkan bahwa secara keseluruhan, motivasi karier dan motivasi mengikuti USAP merupakan faktor yang secara signifikan mempengaruhi minat mahasiswa untuk mengikuti PPAk. Hal ini bisa jadi karena gelar akuntan yang diperoleh dari PPAk merupakan syarat utama untuk dapat mengikuti USAP. Sertifikasi yang diperoleh tersebut merupakan syarat penting untuk dapat meniti karier di bidang akuntan publik.

Jika melihat faktor-faktor yang mempengaruhi minat mahasiswa mengikuti PPAk pada masing-masing program studi, terdapat perbedaan faktor yang mempengaruhi. Pada mahasiswa S1 akuntansi reguler, tidak ada satu pun faktor mempengaruhi minat mahasiswa untuk mengikuti PPAk. Pada mahasiswa S1 ekstensi, faktor-faktor yang mempengaruhi minat mahasiswa mengikuti PPAk yaitu motivasi karier, motivasi gelar, dan lama pendidikan PPAk. Pada mahasiswa PPAk, faktor-faktor yang mempengaruhi minat mahasiswa mengikuti PPAk yaitu motivasi karier dan motivasi mengikuti USAP.

Kata kunci: minat, mahasiswa, Pendidikan Profesi Akuntansi



AUD01

FAKTOR-FAKTOR YANG MEMPENGARUHI KELEMAHAN PENGENDALIAN INTERNAL: STUDI EMPIRIS PADA PDAM YANG DIAUDIT OLEH BPK

Benedicta Dhias Ayu Nita Sari Ronny Prabowo Intiyas Utami

FE UKSW Salatiga

Abstract This paper aims to analyze the influencing factors of internal control weakness.

There are four independent variables chosen for the analysis: size, age, growth, and profitability. Additionally, we also include two control variables: type of government (Kota or Kabupaten) and location of government (Java/ Bali and Outside Jaba/Bali). We select PDAM or local water supply firms as our research sample.

Our results show that firm size negatively affects internal control weakness and while growth positively affects internal control weakness. The result is the same even after including control variables.

Keywords : Internal control, Internals control weakness, state-owned enterprises (SOE)



AUD02

MODEL DISKRIMINASI UPAH DAN IMPLIKASINYA TERHADAP KEBERHASILAN KARIR AUDITOR

Dra Rina Trisnawati Fakultas Ekonomi / Akuntansi Universitas Muhammadiyah Surakarta

Abstract

Participation of Indonesian women in auditing professions has been increasing from year to year. Previous studies however, show the existence of wage differentials between male and female auditors. In most cases, female auditors receive lower wage as compared to male auditors. The main objectives of this study are to examine the exist of discrimination, determine the wages dicrimination model on auditor’s profession and examine the relationship between wage level and auditor`s career This study used Oaxaca-Wage Decomposition Model (Oaxaca 1 and 2), Reimers model, Cotton model and Neumark model ( Pooled Model) to identify factors that determine gender wage differentials and the discrimination existing .Bootsrap Analysis was used to determine the wages discrimination model on auditor`s profession. Correlations analysis was used to identify the relationship between wage level and auditor`s career. A total of 284 auditors were selected as respondents in this study. Among them, 183 were males and 101 were females. The study was conducted in Central Java and Jogyakarta, Indonesia. The study shows that human capital are the main factors that determine gender wage level among auditors. Age, and location of client’s firm are also the determinants of gender wage levels. Discrimination does exist and it is an important determinant factor for gender wage differentials. Oacaxa 2 is the selected model of wages discrimination model on auditor`s career. Regardless of auditors’ gender, this study finds that there is no relationship between wage level and auditors careers. Auditing firms should be fairly in assigning jobs to their auditors. Firms should also provide conducive job environments and proper reward system to enhance auditors’ careers. Government on the other hand should formulate policies that can facilitate and encourage the professional women to participate in labour market. Keywords: auditor, wages discrimination, Oacaxa analysis



AUD03

IDENTIFIKASI POTENSI PEMBERIAN JASA NONASSURANCE OLEH AKUNTAN PUBLIK BAGI USAHA KECIL DAN MENENGAH

(Studi Empiris pada UKM di Kota Semarang)

Intyas Utami Aprilia Zulfika

Universitas Kristen Satya Wacana

Abstract

The potencies of small and medium enterprises (SMEs) have motivated various parties to run such of developing activities, which are able to increase the business capacity of this business unit. On the other way, several problems that are possessed by the SMEs become the barrier of those developing activites realization. The accounting capability and the management capacity limitation will become the set of problems in this research, because they provenly obstruct SMEs, particularly for the funding access point of view from the existing financial institutions. This research aims to indentify the potency of nonassurance service implementation, that consist of the accounting and bookkeeping service and the management consultation service, by the certified public accountant (CPA) for the SMEs. Both of the two services relevant to solve the accounting capability and the management capacity limitation of the SMEs.

The data which are used in this research are the primary data that are obtained through the interview with 13 SMEs as the samples, which are determined by utilizing purposive sampling method. The indicators, which are used to measure the accounting capability of the samples, are developed by the European Commission’s Recommendation of 16 May 2002 about Statutory Auditor’s Independence in the EU: A Set of Fundamental Principles, while the management capacity indicators are developed by Priyanto (2002), and Rougoor et al. (1998), as cited in Priyanto (2002).

Statistically and base on the interview, the result of this research shows that the samples of the SMEs have the tendency to possess bad accounting capability. Whereas, even the statistic output of the 13 samples of the SMEs have the tendency to possess good management capacity, but the interview result explain that they have weaknesess of planning, implementing, and controlling the business activities. This research concludes the existance of high potency of nonassurance service implementation by the CPA for the SMEs, which are used as the samples in this research. Keywords : Small and Medium Enterprises (SMEs), Certified Public Accountant (CPA), Nonassurance Service.



AUD04

SISI BAIK KEWAJIBAN ROTASI KANTOR AKUNTAN PUBLIK (KAP), PEMBUKTIAN DI INDONESIA

Arie Wibowo Pascasarjana Ilmu Akuntansi FE UI

Abstract

Purpose of this study is to explore the effects of mandatory audit firm rotation on Indonesia audit market share that will affect audit quality of auditor to their clients by doing empirical research. The methodology is using t-test and Wilcoxon test to compare before and after appliance of mandatory audit firm rotation rule in Indonesia on 2003. Audit market share is proxies by audit client market share and revenue market share of Big 4/5 firm. The paper finds that mandatory audit form rotation have substantial effects on Indonesia audit market share by declining of Big 4/5 firm market share. The paper assumes that the declining of Big 4/5 audit market share will improve audit quality which stated by Yardley et all (1992) that the domination of big firms will protect competition that raise concerning if the competition is broken then it would harm independence and lower audit quality, but there no test again Yardley et all proposition. Keywords: Independence, Audit quality, Mandatory audit firm rotation, Audit market share



AUD05

PENGARUH TURNOVER INTENTIONS, SELF RATE EMPLOYEE PERFORMANCE, DAN SELF ESTEEM TERHADAP PENERIMAAN DYSFUNCTIONAL BEHAVIOR IN AUDIT

DALAM PRESPEKTIF GENDER (Studi pada Kantor Akuntan Publik Se - Jawa Tengah)

Falikhatun Universitas Sebelas Maret Surakarta

Abstract

The objective of this research are: first, examining the effect of turnover intentions, self rate employee performance and self esteem on acceptance of dysfunctional behavior in audit, and second tested the differences on acceptance of dysfunctional behavior in audit for male and female auditor. Hypotheses that proposed are turnover intentions and self esteem will have positive effect on acceptance of dysfunctional behavior in audit, while, self rate employee performance will has negative effect on acceptance of dysfunctional behavior in audit. The next hypotheses is the difference of acceptance of dysfunctional behavior in audit for male and female auditor.

The population is auditors working in public accountant firm located in Central Java. Purposive random sampling used to take the samples. Data collection method that used is mail questionnaires method. Data analyze method is validity and reliability analysis, classic assumption analysis and hypotheses analysis that used multiple regression and independent sample t test.

The results are all variables valid and reliable and fulfil classic assumption. The result of hypotheses analysis show that self rate employee performance will has positive significantly effect on acceptance of dysfunctional behavior in audit, while turnover intentions, and self esteem have insignificant positive effect on acceptance dysfunctional behavior. For gender prespective, acceptance of dysfunctional behavior in audit for male and female auditor isn’t different.

Keywords: turnover intentions, self rate employee performanc, self esteem, acceptance of dysfunctional behavior in audit, gender.



AUD06

ANALISIS PENGARUH OPINION SHOPPING TERHADAP PENERIMAAN PARAGRAF PENJELAS MENGENAI KEMAMPUAN ENTITAS DALAM

MEMPERTAHANKAN KELANGSUNGAN HIDUPNYA*

Wa Ode Tiara Armaliya Sri Opti Novita

STEKPI, School of Business and Management

Abstract

The prediction on issuing going concern opinion has been major concern for auditor or shareholders. Today, auditor responsibility is winding, not only in judging the financial report or detecting fraud, but also they have to judge the company ability to maintain company going concern. That happens because there is demand from the shareholders to give the early warning information about company prospect that influence the investing decision of the shareholders. The goal of this research are to predicting the influence of opinion shopping that exercise by the company ability with the change of receiving going concern opinion.

This research use manufacture company that listed in Jakarta Stock Exchange (JSX) between 2003 to 2007 as the sample. The method that been used to analyses the correlation between variable are binary logistic regression method, with the using of two type of regression : first, the correlation between opinion shopping with going concern and the others, is the correlation between opinion shopping with auditor switching. This regression method refer to the research that done by Mirna Dyah Praptitorini and Indira Januarti (2007) which adapted to the research that done by Lennox (2002).

From the result, can be conclude that opinion shopping indicate the difference way with hypothsis, this thing could be happened because of the condition in Indonesia are different with other country, company in other country more likely prefer to replace their auditor to get good opinion in going concernThe other result from this research is going concern in auditor’s opinion more often happen during normal year (after crisis), this thing occur because of politics factors between year of 2003 to 2007 not stabile that effect the economy of Indonesia. Keywords : Going Concern Assumption, Opinion Shopping, Altman Z Score, Audit Lag, Prior Opinion and Auditor Switching *Makalah ini merupakan tugas akhir penulis dalam meraih gelar Sarjana Akuntansi di STEKPI



GOV01

PENGARUH MEKANISME CORPORATE GOVERNANCE TERHADAP KUALITAS LABA DENGAN MANAJEMEN LABA SEBAGAI VARIABEL INTERVENING

(Studi Empiris pada Industri Perbankan di Indonesia dengan Menggunakan Path Analysis)

Astri Dyah Kartikasari4 Doddy Setiawan

Universitas Sebelas Maret

Abstract

This research tried to explain phenomenon of the accounting information quality, especially the informativeness of earnings that is determined by factors of earnings management and corporate governance mechanism, namely board of commissioner composition, the existence of audit committee, managerial ownership, and institutional ownership.

The purpose of this research is to examine empirically the influence of both corporate governance mechanism and earnings management to the informativeness of earnings, which measured as earnings response coefficient (ERC). More specifically, we use the informativeness of earnings to investors as a measure of earnings quality.

Population of this research was the firms that are included in the categories of banking industry. Purposive sampling method was used to determine research sample. Sample used in this research was the public bank companies existed in Indonesia in the year of 2001-2005 which were listed in Indonesia Stock Exchange. In this research, specific accrual model are used to decomposition accrual total in to discretionary and non-discretionary accrual. The existence of earnings management in banking industries is indicated by discretionary accrual that not equal to zero.

By using path analysis, we examine causal association between exogenous and endogenous variable. We find that board of commissioner composition, the existence of audit committee, managerial ownership, and institutional ownership are simultaneously and significantly affect the earnings management, but the effect was weak. Only institutional ownership that partially and significantly affects the earnings management. We also find both corporate governance mechanism and earnings management are simultaneously and significantly affect earnings quality, the effect was quite strong. Additionally, we find that the existence of audit committee, managerial ownership, institutional ownership, and earnings management are partially and significantly affect the earnings quality, whereas board of commissioners do not significantly affect the earnings quality. Keywords: corporate governance, board of commissioners, audit committee, managerial ownership, institutional ownership, earnings management, specific accrual model, earnings quality, the informativeness of earnings, earnings response coefficient. 4 Contact authors: [email protected]/[email protected]



GOV02

PENGARUH CORPORATE GOVERNANCE TERHADAP KEBIJAKAN DIVIDEN

Doddy Setiawan Universitas Sebelas Maret

Abstract This research aims at examining the impact of corporate governance on the dividend policy. The authors use Transparency and Disclosure Index (TDI) as a proxy of corporate governance. There are two theories about the relation between corporate governance and dividend policy: outcome theory and substitution theory. Outcome theory argues the positive relation between corporate governance and dividend policy while substitution theory argues the negative relation between corporate governance and dividend policy. The samples of this research 248 firms from Indonesian Stock Exchange during 2004-2006. The authors find that TDI Indonesian firms are low, only 32% from the maximum scores. This score mean that Indonesian corporate governance still low. The results show that there is negative relation between corporate governance and dividend policy in Indonesia. Thus, the Indonesian companies pay more dividends when corporate governance practice is low. Keywords: corporate governance, dividend policy, substitution theory



GOV03

INVESTOR PROTECTION, REAL ACTIVITY MANIPULATION AND ACCRUAL MANIPULATION: ASIAN COMPARISON

Ratna Candra Sari Ph.D Student Gadjah Mada University

Universitas Negeri Yogyakarta

Abstract

This paper examines systematic differences in earnings management through real activity manipulation and accrual manipulation across 5 Asia countries. We predict that in economies with high investor protection, manager prefer to manage earnings through real activity manipulation rather than through accrual manipulation. Because accrual manipulation is more likely to draw auditor or regulator scrutiny than real decisions about pricing and production. Our findings are consistent with our prediction. Despite being in economies with high investor protection, manager still have bigger discretion in managing earnings through real activities rather than accrual manipulation. Keyword: earnings management, real activity manipulation, investor protection



GOV04

PENGARUH KARAKTERISTIK PERUSAHAAN TERHADAP PENGUNGKAPAN CORPORATE SOCIAL RESPONSIBILITY (CSR)

DAN DAMPAKNYA TERHADAP REAKSI INVESTOR (Studi pada Perusahaan yang Terdaftar di Bursa Efek Indonesia)

Rita Yuliana Fakultas Ekonomi Universitas Trunojoyo

Bambang Purnomosidhi Eko Ganis Sukoharsono

Fakultas Ekonomi Universitas Brawijaya

Abstrak

Akhir-akhir ini muncul wacana tanggung jawab sosial perusahaan atau corporate social responsibility (CSR). Wacana tersebut muncul dilandasi pemikiran bahwa keberadaan perusahaan tidak lepas dari lingkungannya. Pada intinya CSR adalah kewajiban organisasi bisnis untuk mengambil bagian dalam kegiatan yang bertujuan melindungi dan meningkatkan kesejahteraan masyarakat secara keseluruhan. Kenyataannya, praktik pengungkapan CSR telah banyak diterapkan oleh perusahaan publik di Indonesia. Pada laporan tahunannya, perusahaan telah menyebutkan aspek pertangungjawaban sosial walaupun dalam bentuk yang relatif sederhana. Selanjutnya, rumusan masalah yang diajukan dalam penelitian ini adalah (1) Apakah karakteristik perusahaan yang meliputi ukuran perusahaan, profitabilitas, profile, ukuran dewan komisaris, dan konsentrasi kepemilikan berpengaruh terhadap tingkat keluasan pengungkapan CSR, dan (2) apakah tingkat keluasan pengungkapan CSR berpengaruh terhadap reaksi investor melalui pengujian abnormal return dan volume perdagangan saham.

Tipe penelitian ini dari sudut pandang kerangka berpikir tergolong penelitian kuantitatif. Populasi penelitian adalah seluruh perusahaan yang mengungkap program CSR di Bursa Efek Indonesia. Metode pengambilan sampel dalam penelitian ini adalah pengambilan sampel bertujuan (purposive sampling). Berdasarkan seleksi yang telah dilakukan diperoleh 116 perusahaan sebagai sampel penelitian. Metode statistik yang digunakan dalam penelitian ini adalah Partial Least Square (PLS).

Berdasarkan hasil analisis data, dari 6 hipotesis yang diajukan, terdapat 3 hipotesis yang diterima dan 3 hipotesis yang ditolak. Berdasarkan hasil pengujian hipotesis terlihat jelas bahwa penelitian ini menemukan bukti bahwa karakteristik perusahaan yang mempengaruhi tingkat keluasan pengungkapan CSR adalah profile dan konsentrasi kepemilikan, sedangkan ukuran perusahaan, profitabilitas, dan ukuran dewan komisaris terbukti tidak berpengaruh terhadap tingkat keluasan pengungkapan CSR. Penelitian ini juga membuktikan bahwa tingkat keluasan pengungkapan CSR berpengaruh terhadap reaksi investor. Kata kunci: karakteristik perusahaan, pengungkapan CSR, reaksi investor



GOV05

PENGARUH DIVERSIFIKASI TERHADAP CORPORATE GOVERNANCE DAN NILAI PERUSAHAAN

(Studi Empiris pada Perusahaan yang Terdaftar di Bursa Efek Jakarta dengan Struktural Equation Model)

Istianingsih Pascasarjana Ilmu Akuntansi Fakultas Ekonomi Universitas Indonesia

Abstract

The objective of this study is to examine the efect of diversificstion and insider ownership on firm value. Sample used of this study is 95 firm’s annual report from companies listed in Jakarta Stock Exchange in 2005. Structural Equation Approach used in this study to examine the effect of diversification and the other variable together on the firm value and the corporate governance.

The result of this study show that diversification significantly affect the insider ownership. Furthermore, bussines diversification negatively significant affect the firm value. On the other hand, I find no evidence the effect of diversification on corporate governance index. The result of this study is different from the previous studies in other country. The different result may caused by the different international corporate governance practice. Keywords: Diversification, Insider Ownership, Corporate Governance, Firm Value.



GOV06

PENGARUH CORPORATE GOVERNANCE SERTA PENGALAMAN INTERNASIONAL DAN GENDER DEWAN DIREKSI PERUSAHAAN PUBLIK DI INDONESIA

TERHADAP PENGUNGKAPAN SOSIAL

Sari Atmini Yeney Widya Prihatiningtias

Jurusan Akuntansi Fakultas Ekonomi Universitas Brawijaya Malang

Abstract

The objectives of this research are to empirically examine the effects of independent commissioner, audit committee characteristics (number of member, competencies, independency and frequency of meeting), board of directors characteristics (size, international experiences and gender) and structure of ownership (managerial and blockholder ownership) to social disclosure. The sample of this research was determined using purposive sampling method. There are 24 companies categorized as high profile companies fulfill the criteria. Data were analyzed using multiple regression analysis. The results of this research show that independent commissioner, audit committee characteristics (number of member, competencies, independency and frequency of meeting), board of directors characteristics (size, international experiences and gender) and structure of ownership (managerial and blockholder ownership) do not affect social disclosure. Keywords: independent commissioner, audit committee, board of directors, international experiences, gender, managerial ownership, blockholder ownership, social disclosure



GOV07

HUBUNGAN CORPORATE GOVERNANCE, CORPORATE SOCIAL RESPONSIBILITIES DAN CORPORATE FINANCIAL PERFORMANCE

DALAM SATU CONTINUUM

Etty Murwaningsari Fakultas Ekonomi Universitas Trisakti

Abstrak

This research aims to identify the influence of Good Corporate Governance, represented by institutional ownership and managerial ownership, on Corporate Social Responsibility and Corporate Financial Performance, and also to observe the possible influence of Corporate Social Responsibility on Corporate Financial Performance.

This research examines 126 manufacturing companies which are listed in Indonesian Stock Exchange (ISX) and have issued an audited financial statement for 2006. The statistical method used to test the hypothesis is Path Analysis.

The result suggests that Good Corporate Governance influences both the disclosure of Corporate Social Responsibility and Corporate Financial Performance and that Corporate Social Responsibility significantly influences Corporate Financial Performance. The result also suggests that CEO Tenure, the controlling variable, holds a significant influence on the disclosure of Corporate Social Responsibility. Yet, there is no strong evidence to support the type of industries as an influencing factor of Corporate Social Responsibility. Furthermore, we found that the latter condition would also apply when we analyze the influence of Corporate Secretary and Nomination and Remuneration Committee on Corporate Financial Performance. Keyword: corporate governance, corporate social responsibilities, corporate financial performance, Tobin’s Q, institutional ownership, managerial ownership, CEO tenure, type of industries, corporate secretary, nomination and remuneration committee.



GOV08

CORPORATE SOCIAL RESPONSIBILITY AND FIRM PERFORMANCE: SUSTAINABILITY REPORTING POLICIES

Linda Rika Nurlela

FE Unsyiah

Abstract

Sustainability Reporting in Indonesia is not yet mandatory but voluntary, therefore the existence of a policy is needed for company to implemate. Theoritical model about supply and demand has still debated, whether this social reporting will improve, reduce or have no the impact on the firm performance. The purpose of this research are to discover the difference between the firm performance that reported sustainability reporting and do not report, and how their relationship between Corporate Social Responsibility (CSR) and firm value. The result shows that the significant, financial performance of company that reported the Sustanainability Reporting difference from that do not report. And there is relationship between CSR and firm value. This condition identified the existence of supply and demand supported each other to make Sustainability Reporting have a strong impact on firm performance. Keywords: Sustainability Reporting, Voluntary, Mandatory, Supply, Demand, Corporate Social Responsibility and Firm Value



GOV09

SLACK RESOURCES, CORPORATE PHILANTHROPY DAN KINERJA PERUSAHAAN DENGAN PENDEKATAN STRUCTURAL EQUATION MODEL

Nur Kholifah

Progam Pasca Sarjana Ilmu Akuntansi Universitas Indonesia

Chaerul D. Djakman Universitas Indonesia

Abstract

The objective of this study is to examine the influence of slack resources, corporate philanthropy and firm financial performance. The slack resources, corporate philanthropy and firm financial performance are conceptually interrelated and to examine them using structural equation modeling with 71 Indonesian listed companies in 2006 that have donation reported on their annual report. Cash flow represents slack resources measurement because it shows the uncommitted money that are available for charity and other discretionary purposes. In this study, the firm’s donation represents corporate philanthropy. While cummulative abnormal return represents firm’s financial performance measure because that measuring is based on its total stock market return is particular describe the effect of corporate philanthropy. This study is based on Seifert et al (2004) and to prove are the Indonesian companies consistent with Seifert’s et al (2004) hypothesis. The result suggests that cash flow does not impact on firm donation, on the other hand the donation has a significant effect on firm financial performance. This finding supports the view of corporate philanthropy as discretionary social responsibility that would increase firm image and finally enhance firm financial performance. Keyword : slack resources, corporate philanthropy and firm financial performance.



GOV10

PENGARUH KONSENTRASI KEPEMILIKAN, UKURAN PERUSAHAAN, DAN MEKANISME CORPORATE GOVERNANCE TERHADAP PENGUNGKAPAN SUKARELA5

Nuryaman Universitas Widyatama, Bandung

Abstract The background fenomena of this study is the fact that low of disclosure practice on the financial reporting. The objectives of the research are to find out empirical evidence of the effect of ownership concentration, firms size, and corporate governance mechanisms on voluntary disclosure. The corporate governance mecanisme of this research are composition of board of commissioner and audit quality. Audit quality were measure by industry specialize audit firm. This study is explanatory research. The target population was listed companies in the manufacturing sector at the Jakarta Stock Exchange. The sample determined based on purposive samping methode, andin conformity with the following criteria : (a) the annual report ended 31 December 2005 ; (b) book value of equity is positive. There were 101 companies meeting the criteria. The research hyphotesis were tested using multiple regression analysis.The result of this research show that: (1) ownership concentration had significantly positive influence on voluntary disclosure; (2) firms size had significantly positive influence on voluntary disclosure; (3) composition of board of commissioner had no influence on voluntary disclosure; (4) audit quality wich measured by proxy industry specialize audit firm had significantly positive influence on voluntary disclosure. Keywords : ownerships concentration, firms size, corporate governance mechanisms, voluntary disclosure.

5 Disajikan pada 2nd.Accounting Conference di Universitas Indonesia, November 2008.



GOV11

HUBUNGAN ANTARA STRUKTUR KEPEMILIKAN SAHAM, KARAKTERISTIK DEWAN KOMISARIS DAN KONSERVATISME

Safrida Rumondang Parulian Mahasiswa Program Pascasarjana Ilmu Akuntansi

FEUI

Abstract

Agency theory explained the existence of conflict of interests between parties, especially managers, shareholders and bondholders, found in many studies. This conflict tells and warns the opened opportunity for manager to make decisions benefiting themselves, and sacrificing others interests and could finally lowering the value of the firms. Conservatism in financial reporting is believed as one of many solutions to this conflict. Other solution for this conflict could be the good corporate governance practiced by firms. The objective of this study is to examine if ownership structures (ownership by institutional investors, managers/director and block ownership), and the existence of independent commissioners significantly associated to the level of conservatism in firms. Using two models for conservatism, this study found that institutional investor has significant association to conservatism, but without consistent direction. Firms with more institutional investors tend to have financial numbers that are less conservative. But, this study failed to find significant association between conservatism and insiders or block ownership. The existence of independent commissioners is also not related to conservatism, in this study. Controlling the model with firms characteristics, firm size and leverage were found to be related to conservatism. A larger or a more leveraged firm, tend to be less conservative. Key words : conservatism, institutional ownership, block ownership, managerial ownership, good corporate governance



GOV12

PENGARUH KINERJA PERUSAHAAN TERHADAP CORPORATE GOVERNANCE REPORTING DENGAN VARIABEL MODERATING

CEO TENURE

Titik Aryati Universitas Trisakti Jakarta,

Mahasiswa PIA FEUI

Abstract

This study examines the relationship between CEO tenure, firm performance and corporate governance (CG) reporting. This study hypothesizes that (1) firm performance have positif relationship to CG reporting; (2) CEO tenure have negative relationship to CG reporting; (3) CEO tenure can possibly mitigate the relationship between firm performance and CG reporting. Data are collected from Indonesia Stock Exchange, with sample 30 companies on 2005. CG reporting use CG Index (Silveira & Barros, 2006), proxies firm performance are Return on Equity (ROE) and stock return and control variable are borrowing and firm’s age. The result show that firm performance have positif relationship to CG reporting but not significant, CEO tenure have negative significant relationship to CG Reporting. However, CEO tenure can not mitigate the relationship between firm performance and CG reporting. Keywords : Corporate governance reporting, CEO tenure, firm performance.



GOV13

ANALISIS DAMPAK PRAKTEK CORPORATE GOVERNANCE DAN LUAS PENGUNGKAPAN SUKARELA TERHADAP EARNINGS RESPONSE COEFFICIENT PADA PRAKTEK PERUSAHAAN YANG TERDAFTAR DI BURSA EFEK JAKARTA*)

Vinola Herawaty Dosen Universitas Trisakti sedang menempuh Program Doktor Ilmu Akuntansi Pasca Sarjana


Abstract This study extends the prior research on corporate governance and voluntary disclosure and examines whether corporate governance and voluntary disclosure have impacts to the informativeness of earnings, proxied by the earnings response coefficient. Corporate Governance Practice is proxied by Institusional Ownership, Independent Directors, Manajerial Ownership and Audit Quality. The hypothesis is that there is a positive association between corporate governance practice and the informativeness of earnings and there is a negative association between voluntary corporate disclosure and the value relevance of earnings. The sample consist of 63 firms year of companies listed on The Jakarta Stock Exchange in the year period of 2004-2006. To test the hypothesis, cumulative abnormal returns was regressed against current earnings changes , corporate governance practice and disclosures index level. The result suggests a positif association between ERC and two corporate governance practices: Independent Directors and Manajerial Ownership; and negative association between audit quality and ERC. On the other hand, there is no evidence suggesting association between ERC and the other corporate governance practice; Institusional Ownership and voluntary disclosure. It means that Institusional Ownership and Voluntary Disclosure have no effect on the value relevance of Earnings The posibble reason is that the market believes that institusional ownership of the company does not improve the monitoring ability to the management and do not reduce management’s ability to manipulate earnings.The other posibble reason for the insignificant association of that voluntary disclosures with earning response coefficient because in annual report insufficiently revealed the information about the future prospect of the company. Keyword : Corporate Governance, Earnings Response Coefficient, Voluntary Disclsure. *)sekarang Bursa Efek Indonesia



DC01

PENGARUH PRIVATISASI , AGENCY COST DAN KUALITAS LABA TERHADAP KINERJA:

Studi pada BUMN Go Public di Bursa Efek Indonesia

Endah Sri Wahyuni Universitas Indonesia

Abstract

The overall purpose of this study is to examine the effects of privatization, agency cost and earnings quality on performance. Privatization is examined by corporate governace, competition and rectructuring variables. Many recent studies of privatization have focused on the effect of privatization on performance by comparing pre and post privatization data, the initial return to investors in share issue privatization, the long returns to investors in share issue privatization. Meanwhile the results is not conclusive yet. This study will explore the direct and indirect effects between the variables specified at the thirteen Indonesia state-owned enterprises (SOEs) were listed at Jakarta Stock Exchange (JSX). Path analysis will be conducted to test the hyphotheses.



DC02

ANALISIS PENGARUH KETERLAMBATAN PENYAMPAIAN LAPORAN TAHUNAN TERHADAP NILAI PERUSAHAAN

Wing Wahyu Winarno Pascasarjana Ilmu Akuntansi FEUI

Abstract

Listed firms have an obligation to submit their annual report within 90 days after the financial-year end. There are a set of penalties for firms which unable to obey this requirement, from receiving warnings, paying fines, until stopping their trading. However, there are roughly 40-70 firms (out of more than 300 listed firms) each year which delay their report. The delays range from one to several months. This study will answer several research questions: (1) Do investors repond to late information?; (2) What are the determinant of untimeliness?; (3) Which one is better in measuring market response: SUE or EAR?; (4) Can we predict when firms will submit their annual report?. The data will be obtained from Indonesian Stock Exchange covering 2004-2006 period.



DC03

AKTIVITAS PELAYANAN PUBLIK dan PENGUKURAN KINERJA: EFISIENSI dan EFEKTIVITAS

(Pengujian Efisiensi dengan FRONTIER ANALYSIS)

Erwin Saraswati Program Pasca Sarjana Ilmu Akuntansi FEUI

Abstract

Pengukuran kinerja merupakan hal yang terpenting dalam suatu organisasi, demikian juga dalam suatu pemerintahan daerah. Dalam organisasi sektor publik, pengukuran kinerja relatif lebih sulit dan bersifat multidimensional, sehingga tidak ada pengukuran yang bersifat tunggal. Pengukuran kinerja dalam penelitian ini menggunakan efisiensi dan efektivitas untuk mengukur keberhasilan suatu aktivitas pelayanan publik. Pengukuran efisiensi dalam sektor publik dapat menggunakan analisa Data Envelopment Analysis (DEA) dan Frontier Analysis. Keduanya merupakan pengukuran efisiensi dengan input tertentu dan output yang beragam. Penelitian ini mencoba mengukur efisiensi dengan Frontier analysis. Hasil penelitian ini diharapkan dapat memberikan kontribusi, bahwa peranan untuk mempertimbangkan biaya-biaya , benchmarcking dan internal marketing dapat membantu meningkatkan kinerja efisiensi dan efektivitas suatu aktivitas pelayanan publik.



DC04

PENGARUH EFEKTIVITAS PERAN DEWAN KOMISARIS DAN KOMITE AUDIT, KEPEMILIKAN OLEH KELUARGA DAN PERAN KREDITUR SEBAGAI MEKANISME

CORPORATE GOVERNANCE, TERHADAP KANDUNGAN INFORMASI LABA PERUSAHAAN

Ancella A. Hermawan Program Pasca Sarjana Ilmu Akuntansi FEUI

Abstract



DC05

TAFSIR SOSIAL ATAS LABA AKUNTANSI:

KAJIAN SEMIOTIKA-DEKONSTRUKTIF DALAM PERSPEKTIF FILSAFAT JACQUES DERRIDA

Akhmad Riduwan Mahasiswa Program Doktor Ilmu Akuntansi Universitas Brawijaya

Abstract

The purposes of the study are: (1) to understand of interpretation of financial stetement preparers, readers and users on accounting earnings as a symbol (sign) used in communi-cation; (2) evaluate an understanding of financial statement preparers, readers and users on earnings concept used in accounting conceptual framework; (3) perform a searching of meanings (semiotics) through the deconstructive reading of accounting texts to explain the possibility of logoscentrism in accounting conceptual framework related with earnings determination. The deconstructive reading is performed based on the deconstruction philosophy of Jacques Derrida, the post-structuralist or postmodernist French philosopher.

Contributions expected of this study are bringing about deconstruction discourse in order to accounting texts, especially for accounting regulator, that are: (1) open the consciousness that economic reality represented by the accounting and it concepts not always symmetrical with the real world and users need; (2) open the consciousness that the fairness of economic reality based on recent accounting concepts not always understand in the same way by readers and users in the practice field.

This study is performed based on interpretive (hermeneutics) approach. Hermeneutics applied in this study not limited to conventional-hermeneutics (structuralism), but develope to radical-hermeneutics (post-structuralism). Informants selected of this study consist of: (a) accounting educators; (b) management accountants; (c) public accountants; (d) finance managers; (e) investment advisors/consultants; (f) individual investors; (g) credit analysts; (f) small enterpreuners; and (g) other members of society. In the stage of analysis and communication of it result, semiotics-deconstructive-rhetoric method will be applied. In this stage, using of the language is a part of an actor to bring about believeness for readers audience.

Keywords: Accounting earnings, Conceptual Framework, Symbol (Sign), Semiotics, Rhetoric, Logoscentrism, Deconstruction, Jacques Derrida.



DC06

PENGARUH PROTEKSI BAGI INVESTOR, DERAJAT KONVERGENSI STANDAR

AKUNTANSI LOKAL TERHADAP IFRS, IMPLEMENTASI CORPORATE GOVERNANCE,

DAN KUALITAS AUDIT TERHADAP KUALITAS LABA: ANALISIS PERBANDINGAN

ANTAR NEGARA DI ASIA

Ratna Wardhani

Pasca Sarjana Ilmu Akuntansi Fakultas Ekonomi Universitas Indonesia

Abstract

The objective of this research is to comprehensively investigate the effect of external factors

as investor protection, degree of convergence of local GAAP to IFRS, and audit quality and

internal factors of a company as corporate governance implementation and ownership to

quality of earnings. This research will add literature by several ways. First, this research

considers the implementation of corporate governance not only in firm level but also in

country level. Second, this research accommodates the effect of degree of convergence in

local GAAP to IFRS. Third, this research investigates indirect effect of investor protection to

earnings quality through accounting standard, corporate governance implementation, and

audit quality. Fourth, this research accommodates the effect of ownership structure to

relationship between investor protection and corporate governance with earnings quality.

Fifth, research about effect of investor protection, accounting standard and corporate

governance to earnings quality in Asia is very limited. With difference characteristics of Asian

countries this research will be interesting. The last is this research will investigate earnings

quality in comprehensive dimension.

Key Words: Earnings Quality, Investor Protection, Corporate Goverance, IFRS, Audit

Quality, Ownership

abs trak

Documents

adoption process

process of adoption

information provider

accounting conference

interactive process

accounting workshop

stages process

based accounting systems