Yosafat Pujo Lukito_Abstract_1712013

FAKTOR-FAKTOR YANG MEMENGARUHI PENGUNGKAPAN SUKARELA INTERNET FINANCIAL AND SUSTAINABILITY REPORTING
 
Yosafat Pujo Lukito
Yulius Kurnia Susanto
Sekolah Tinggi Ilmu Ekonomi Trisakti
Jl. Kyai Tapa No.20 Jakarta, 11440.

Korespondensi dengan Penulis:
Yulius Kurnia Susanto: Telp. +62 21 566 6717; Fax. +62 21 563 5480                           E-mail: yulius@stietrisakti.ac.id 

Abstract

Internet Financial and Sustainability Reporting (IFSR) was voluntary disclosure. With no specific regulations on IFSR, some companies disclosed its informations about financial, sustainability, products, etc at company’s website independenly. Its website could interest investor, creditor, and internet user to know more about the company. The objective of this research was to test and analyze the factors that affected the voluntary disclosure by IFSR Index. Firm size, return on equity, leverage, liquidity, company’s status, profitability, and outside ownership were the independent variables of this research. The samples of this research were 92 manufacturing companies listed at Indonesia Stock Exchange during 2008 till 2010 that had been selected by using purposive sampling method. The result of this research revealed that firm size and leverage influenced Internet Financial and Sustainability Reporting. Big companies had a good reporting information system and leaned to have the resources to produce more information.

Key words: company website, internet financial, sustainability reporting, voluntary disclosure

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Trudy Maryona Nussy_Abstract_1712013

CORPORATE GOVERNANCE DAN ETNISITAS TERHADAP PENGUNGKAPAN CORPORATE SOCIAL RESPONSIBILITY
 
Trudy Maryona Nussy
Politeknik Negeri Ambon
Jl. Ir. Putuhena Wailela Ambon, 97234.

Korespondensi dengan Penulis:
Trudy Maryona Nussy: Telp. +62 911 322 609; Fax. +62 911 343 591
E-mail: trudy.maryona@gmail.com

Abstract

The objective of research was to examine the effect of corporate governance and ethnicity on the disclosure of Corporate Social Responsibility (CSR). Corporate governance mechanisms used in this research were managerial ownership, institutional ownership, independent commissioner, and audit committee. Research was conducted against the companies listed in Indonesia Stock Exchange in the period of 2005 and 2011. Sampling technique was purposive sampling. Hypothesis testing was conducted by independent sample t-test and multiple regressions. Test and analysis were carried out separately in 2005 and 2011. The result of research indicated that there was a difference in the CSR disclosure rate. The use of CSR in Indonesia in 2011 was higher than that in 2005. The managerial ownership and the institutional ownership influenced CSR disclosure in 2005, while independent commissioner, audit committee and ethnicity did not influence CSR disclosure in 2005. The disclosure of CSR in 2011 was affected by institutional ownership, independent ownership and audit committee. The managerial ownership and ethnicity did not influence CSR disclosure in this year.

Key words:     audit committee, CSR disclosure, ethnicity, independent commissioner, institutional ownership, managerial ownership

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Lusye Corvanty Kumaat_Abstract_1712013

CORPORATE GOVERNANCE DAN STRUKTUR KEPEMILIKAN TERHADAP MANAJEMEN LABA DAN KINERJA KEUANGAN

Lusye Corvanty Kumaat
Politeknik Negeri Manado
Kampus Politeknik Kelurahan Buha Manado, 85254

Korespondensi dengan Penulis:
Lusye Corvanty Kumaat: Telp. +62 431 815 332
E-mail: lusyeckumaat@yahoo.com

Abstract

The research was aimed to examine the effect of corporate governance and ownership structure on profit management and financial performance. Corporate governance mechanisms that were used in this research were managerial ownership, independent commissioner and audit committee. Ownership structure that was used was concentrated ownership structure. Research was conducted on the manufacturing companies that were listed at Indonesia Stock Exchange in period of 2007-2011. Sampling technique was purposive sampling. Hypothesis testing tool was multiple regression. Earning management in this research was measured using Modified Jones Models, while financial performance was measured by cash flow return on assets (CFROA). Result of research indicated that managerial ownership, independent commissioner, and ownership structure was positively influencing profit management. Independent commissioner and ownership structure positively influenced financial performance, while managerial ownership negatively influenced financial performance. Audit committee was not influencing earning management and financial performance, and earning management was not proved as influencing financial performance.

Key words:     corporate governance, earning management, financial performance, ownership structure

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Indra Suyoto Kurniawan_Abstract_1712013

INTELLECTUAL CAPITAL TERHADAP KINERJA KEUANGAN PERUSAHAAN PUBLIK DI INDONESIA

Indra Suyoto Kurniawan
Fakultas Ekonomi Universitas Mulawarman Samarinda
Jl. Tanah Grogot No.1 Kampus Unmul Gunung Kelua, Samarinda, 75119.

Korespondensi dengan Penulis:
Indra Suyoto Kurniawan: Telp. +62 541 738 916, 738 915
E-mail: indra_kurniawan07@yahoo.co.id

Abstract

The purpose of this study was to examine the relationship between the efficiency of the value added to the company’s resources in the main components (physical capital, human capital, structural capital) and researchers are trying to add the market value of the three dimensions of a company’s financial performance is ROA, ATO, and GR. The data is taken from the 44 public companies engaged in non financial sector for 3 years (2009-2011). This study is an empirical study using PLS as a data analysis tool. The findings of this study suggest that having an IC on the financial performance of the company, the IC also has a positive effect on the financial performance of companies in the future. While the rate of growth for the company IC (ROGIC) within 3 years of observation there is a difference, where to ROGIC20092010 does not affect the financial performance in 2010, ROGIC2010-2011 positive effect on the financial performance for the year 2011. The findings suggest that human capital (VAHU) and physical capital (VACA) is an indicator of a positive effect IC for two years of observation, while the capital structure (STVA) has a positive effect only in 2010 while the market value (MV) effect only in 2011. While the ROA and the ATO as an indicator of financial performance consistent effect for three years of observation. And for the year 2010 was significant for all indicators either IC or financial performance.

Key words: asset turn over, human capital, intellectual capital, physical capital, return on assets, structural capital

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C.Erna Susilawati_Abstract_1712013

INFORMASI INTELLECTUAL CAPITAL DALAM LAPORAN ANALIS SEKURITAS:  BERMANFAATKAH BAGI INVESTOR?
 
 C. Erna Susilawati
Fakultas Bisnis Unika Widya Mandala Surabaya
Jl.Dinoyo 42-44 Surabaya, 60265

Korespondensi dengan Penulis:
C.Erna Susilawati: Telp./Fax.+62 31 567 8578
E-mail: erna_msi@yahoo.com

Abstract

The role of intellectual capital to increase value of the firm, prompting securities analyst to include information about that into securities analyst report. The value of analyst report explored by previous researchers. However, information about intellectual capital in securities analyst report is not widely studied. The purpose of this research to investigate the value of  intellectual capital information in the securities analyst report for investor and tries to explore the role of securities analyst to reduce asymmetry information. The result showed that intellectual capital information used by investor and thus effects the trading volume. The other findings show that intellectual capital information reinforces the influence of the revision of stocks recommendation to trading volume. Abnormal return of stock when the analyst reports contain intellectual capital information is higher than that do not contain such information. 

Key words: abnormal return, intellectual capital, securities analyst report

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Indri Erkaningrum_Abstract_1712013

INTERDEPENDENSI ANTARA INSIDER OWNERSHIP, KEPUTUSAN INVESTASI, DAN RISIKO BISNIS   

Indri Erkaningrum Florentina
ASMI Santa Maria Yogyakarta Jl. Bener No.14 Yogyakarta, 55243

Korespondensi dengan Penulis:
Indri Erkaningrum Florentina: telp. +62 274 585 836; Fax. +62 274 585 841            E-mail : indri_erkaningrum@yahoo.co.id    

Abstract:

Asymmetric information and agency issues made stockholders need to control business activities through optimalization insider ownership and investment decision. Optimalization of insider ownership and investment decision were expected to make business risk controlled. This research aimed at verifying empirically the influencing factors of insider ownership, investment decision, business risk, and finding the interdependency among insider ownership, investment decision, and business risk. The samples of this research were 90 real estate and property companies listed at Indonesia Stock Exchange from the year  of 2006 to 2010. Simultaneous equation model of three stage least squares (3 SLS) was applied to analyze the interdependency among insider ownership, investment decision, and business risk. The analysis result of interdependency among insider ownership, investment decision, and business risk showed that: there was interdependency between insider ownership and investment; there was interdependency between insider ownership and business risk; investment influenced business risk. The empirical evidence of interdependency among insider ownership, investment decision, and business risk helped the companies make financial policies.

Key words: business risk, insider ownership, investment decision 

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Windyastuti_Abstract_1712013

PENETAPAN TARGET TERHADAP STICKINESS COST

Windyastuti
Fakultas Ekonomi UPN “Veteran” Yogyakarta
Jl. SWK 104 (Lingkar Utara) Condongcatur, 55283.

Korespondensi dengan Penulis:
Windyastuti: Telp. +62 274 487 273; Fax. +62 274 486 255
E-mail:windyastuti.wijaya@gmail.com

Abstract

This study aimed to analyze the influence of manager targeting to the stickiness cost. The research data was a manufacturing company’s financial statements during 1999-2011 published at BEI. The research data included cost of sales, administration and general, net sales and Price Earnings Ratio (PER). This study used a dynamic panel data regression analysis. The results showed that cost of sales, administration and general were sticky. Furthermore, manager targeting caused the stickiness degree of sales, administration and general cost lower. Manager targeting changed the manager’s behavior. When the net sales declined, manager reduced the resource use drastically so the cost of Sales, Administration and General also decreased drastically.

Key words: administration and general, cost, cost of sales, net sales, price earnings ratio, stickiness.

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