Struktur Kepemilikan dan Model Manajemen Laba Short Term Discretionary Accrual Perusahaan Go Public di Indonesia
Keywords:
corporate governance, ownership structure, earnings management, short term discretionary accrual modelAbstract
Asymmetry information between agent and principal provides an opportunity for managers to act opportunistically by doing earnings management. Companies need to implement good corporate governance mechanisms in the company's control and management system to minimize earnings management action. This study aims to analyze the effect of ownership structure on earnings management on go public companies in Indonesia with approach short term discretionary accrual model period 2011-2015. The ownership structure used includes concentration of ownership, institutional ownership, foreign ownership, and family ownership. The short term discretionary accrual model used to measure earnings management. The sampling technique was done by purposive sampling, total of sample are 245 samples which have fulfilled classical assumption and analyzed by multiple regression analysis. The results provide empirical evidence that the ownership structure as measured by the concentration of ownership has a significant negative effect on earnings management on go public companies in Indonesia. While institutional ownership, foreign ownership, and family ownership have no effect on earnings management on go public company in Indonesia.
References
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Villangola, B dan R. Amit. 2006. How do family ownership, control and management effect firm value?.Journal of Financial Economics 80: 385-417.
Whelan, C., & McNamara, R. (2004).“The Impact of Earnings Management on the Value Relevance of Financial Statement Information”.Paper available from http://paper.ssrn.com tanggal 15 Mei 2017.
Wijayanti, A. dan A. Wiedodo. 2014. Kepemilikan Bisnis Keluarga, Manajemen Laba dan Financial Statement Fraud. Economics & Business Research Festival. ISBN:978-979-3775-55-5.
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Yeo, G., Tan, P., Ho, K., & Chen, S. 2002. Corporate ownership structure and the informativeness of earnings.Journal of Business Finance and Accounting 29(7): 1022–1046.
Andrianto, Rei & Indrianita Anis. 2014. Pengaruh Struktur Corporate Governance dan Kontrak Hutang terhadap Praktik Manajemen Laba. Proceeding Simposium Nasional Akuntansi XIII. Purwokerto.
Arifin, Z. 2003. Masalah agensi dan mekanisme kontrol pada perusahaan dengan struktur kepemilikan terkonsentrasi yang dikontrol keluarga = bukti dari perusahaan publik Indonesia. Disertasi. Pasca Sarjana FEUI.
Barontini, R., dan Caprio, L. 2005. The effect of family control on firm value and performance : Evidance from Continental Europe. SSRN Working Paper.
Chhibber, P.K. dan Majumdar, S.K., 1999, “Foreign Ownership and Profitability: Property Rights, Control and the Performance of Firms in Indian Industry.” Journal of Law and Economics, Vol. 42 (1). Pp. 209-238.
Cornett, M.M., Marcuss, A.J., Saunders, A., dan Tehranian, H., 2006, “Earnings Management, Corporate Governance, and True Financial Performance.” http://papers.ssrn.com tanggal 18 Juni 2017.
David, P., T. Yoshikawa, M. Chari, and A. Rasheed. 2006. Strategic investments in Japanese Corporations: Do foreign portfolio owners foster underinvestment or appropriate investment?Strategic Management Journal 27 (6) : 591-600.
De Bos, A., & Donker, H. (2004). Monitoring accounting changes: Empirical evidence from Netherlands. Corporate Governance, 12(1), 60–73. Douma S., George, R. and Kabir, R. (2006). Foreign and domestic ownership, business groups, and firm performance: evidence from a large emerging market, Strategic Management Journal, 27(7), 637-657.
Effendi, S. dan Daljono. 2013. Pengaruh Corporate Governance dan Kualitas Auditor Terhadap Manajemen Laba. Journal of Accounting Vol. 2 No.3
Espenlaub, Susanne, 1999, “Discussion of The Life Cycle of Initial Public Offering Firms”, Journal of Business Finance & Accounting, 26 (9) & (10), Nov./Des. 1999.
Gillan, S. dan Starks, L., 2003, “Corporate Governance, Corporate Ownership, and the Role of Institutional Investors: A Global Perspective”, Journal of Applied Finance, Vol. 13 (2), 4-22.
Gonzalez, Jesus Saenz and Emma Garcia-Meca. 2012. Does Corporate Governance Influence Earnings Management in Latin American Markets?.J Bus Ethics (2014) 121 : 419-440.
Grinblatt, M., and M. Keloharju. 2000. The Investment Behavior And Performance of Various Investor Types: A Study Of Finland’s Unique Data Set. Journal of Financial Economics 55 : 43-67.
Guo, Jun et. al. 2014.Foreign Ownership and Real Earnings Management: Evidence from Japan. American Accounting Association (AAA).JEL : M41; F23 ; G32.
Hastuti, Theresia Dwi. 2005. Hubungan antara Good Corporate Governance dan Struktur Kepemilikan dengan Kinerja Keuangan (Studi Kasus pada Perusahaan yang listing di Bursa Efek Jakarta). SNA VIII. Unika Soegijapranta, Surakarta.
Healy M Paul & Palepu. (2001) Information Asymmetry, Corporate Disclosure, and The Capital Markets: A Review Of The Empirical Disclosure Literature. Journal of Accounting and Economics. Vol 31.
Jiang, L. and J-B. Kim. 2004. Foreign equity ownership and information asymmetry: evidence from Japan. Journal of International Financial Management and Accounting 15 (3): 185-211.
Kim, J., & Yi, C. 2006. Ownership structure, business group affiliation, listing status and earnings management: Evidence from Korea. Contemporary Accounting Research 23(2): 427–464.
Kusumawati, Eny. 2015. Pengaruh Corporate Governance terhadap Manajemen Laba Riil (Studi Empiris pada Perusahaan yang Terdaftar di Bursa Efek Indonesia. Tesis. Universitas Muhammadiyah Surakarta, Surakarta.
Kusuma, Hadri. 2006. Dampak Manajemen Laba terhadap Relevansi Informasi Akuntansi : Bukti Empiris dari Indonesia. Jurnal Akuntansi dan Keuangan Vol.8.No. 1.
Lefort, F. 2007. Corporate governance in Latin America. In A. Chong & F. Lopez de Silane (Eds.), Investor protection and corporate governance firm level evidence across Latin America. Washington, DC: Stanford University Press.
Midiastuty, Pratana Puspa. Dan Mas’ud Machfoedz. 2003. Analisis Hubungan Mekanisme Corporate Governance dan Indikasi Manajemen Laba. Artikel yang Dipresentasikan pada Simposium Nasional Akuntansi 6 Surabaya tanggal 16-17 Oktober.
Nazir, Handhani. 2014. Pengaruh Kepemilikan Institusional, Kompisisi Dewan Komisaris Independen, Reputasi Kantor Akuntan Publik dan Kompensasi Bonus terhadap Manajemen Laba (Studi Empiris pada Perusahaan Finance yang terdaftar di BEI tahun 2008-2011). Artikel. Universitas Negeri Padang, Padang.
Patibandla, M. (2002). Equity Pattern, Corporate Governance and Performance: A Study of Indian corporate Sector, Copenhagen Business School, Working Paper.
Porter, G. (1992). Accounting Earnings Announcement, Institutional Investors Concentration and Common Stock Returns. Journal of Accounting Research, Vol.30, No. 1.p.146-155. Prakasa, Citra D. dan E. Ekawati. 2018. Analisis Manajemen Laba Rill dengan Kepemilikan Asing pada Level Spesifik Perusahaan. Makalah. Universitas Kristen Duta Wacana, 032.
Price, R., Roman, F., & Rountree, B. 2006. Governance reform, share concentration and financial reporting transparency in Mexico. SSRN Working Paper.Rice University.
Rebecca, Y. dan S. V. Siregar. 2012. Pengaruh Corporate Governance Index, Kepemilikan Keluarga, dan Kepemilikan Institusional terhadap Biaya Ekuitas dan Biaya Utang:Studi Empiris pada Perusahaan Manufaktur yang Terdaftar di BEI. Jurnal Akuntansi. Universitas Indonesia, Jakarta.
Sabien, M. 2010. The Impact of Institutional Ownership on Earnings Management in India.Scriptie Master.Faculty of Economics and Business University of Amsterdam MSc in Accountancy and Control (Control Track.). ARNO:374649 Santoso, A. F. dan E. Pudolaksono. 2013. Pengaruh Good Corporate Governance terhadap Earnings Management pada Badan Usaha Sektor Property dan Real Estate yang terdaftar di BEI Periode 2009-2012. Jurnal IlmiahMahasiswa Universitas Surabaya.Vol 2. No 2.
Sari, A.A Intan Puspita & I G.A.M Asri Dwija Putri. 2014. Pengaruh Mekanisme Corporate Governance pada Manajemen Laba. E-Jurnal Akuntansi Universitas Udayana ISSN: 2302-8556.
Ujiyantho, Muh Arief & Bambang Agus Pramuka. 2007. Mekanisme Corporate Governance, Manajemen Laba dan Kinerja Keuangan dalam Poceeding Simposium Nasional Akuntansi X. Makasar.
Villangola, B dan R. Amit. 2006. How do family ownership, control and management effect firm value?.Journal of Financial Economics 80: 385-417.
Whelan, C., & McNamara, R. (2004).“The Impact of Earnings Management on the Value Relevance of Financial Statement Information”.Paper available from http://paper.ssrn.com tanggal 15 Mei 2017.
Wijayanti, A. dan A. Wiedodo. 2014. Kepemilikan Bisnis Keluarga, Manajemen Laba dan Financial Statement Fraud. Economics & Business Research Festival. ISBN:978-979-3775-55-5.
Wiranata, Y.A. dan Nugrahanti, Y.W. 2013.Pengaruh Struktur Kepemilikan terhadap Profitabilitas Perusahaan Manufaktur di Indonesia. Jurnal Akuntansi dan Keuangan, Vol. 15, No. 1, Mei 2013, 15-26
Yeo, G., Tan, P., Ho, K., & Chen, S. 2002. Corporate ownership structure and the informativeness of earnings.Journal of Business Finance and Accounting 29(7): 1022–1046.
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2019-01-21
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Wiyadi, W., Fauziah, N. I., & Trisnawati, R. (2019). Struktur Kepemilikan dan Model Manajemen Laba Short Term Discretionary Accrual Perusahaan Go Public di Indonesia. Prosiding University Research Colloquium, 116–125. Retrieved from https://repository.urecol.org/index.php/proceeding/article/view/522
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Copyright (c) 2018 W Wiyadi, Nur Ismiyati Fauziah, Rina Trisnawati
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