Sigit Handoyo_191158697

EARNING MANAGEMENT, STOCK RETURN AND COMPANIES’ MERGER AND ACQUISITION

 Sigit Handoyo

Fitria Rahmadani Putri

Jurusan Akuntansi Fakultas Ekonomi Universitas Islam Indonesia Yogyakarta

Ringroad Utara, Condong Catur Depok Sleman, Yogyakarta, 55283, Indonesia.

  •  Korespondensi dengan Penulis:
  • Sigit Handoyo: Telp.+62 274 881 546; Fax.+62 274 882 589
  • E-mail: sihando@yahoo.com

Abstract

The purpose of this study was to find out the practice earning management before merger and acquisition announcement. It also aimed to examine the differences of stock return before and after merger and acquisition announcement among companies that were listed on Indonesia stock exchange. The samples were 35 companies that did merger and acquisition and listed in Indonesia Stock Exchange (IDX) period 2004–2013. Then, the data analysis was performed by computer statistic program SPSS. These samples were selected by using purposive sampling method. Analysis hypothesis used Independent sample t-test and Wilcoxon sign ranks test. The result of independent sample t-test showed that the companies tended to do earning management before merger and acquisitions. While the result of Wilcoxon signed ranks test showed that there was no difference between stock return before and after merger and acquisition announcement.

Keywords: acquisition, earning management, merger, stock return

191158697_SigitHandoyo (Full Text)

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Zaenal Fanani_Abstract_1822014

KARAKTERISTIK PERUSAHAAN DAN CORPORATE GOVERNANCE TERHADAP MANAJEMEN LABA: STUDI ANALISIS META

Zaenal Fanani

Prodi Akuntansi Fakultas Ekonomi dan Bisnis Universitas Airlangga

Jl. Airlangga No.4 Surabaya, 60286, Indonesia.

  • Korespondensi Penulis:
  • Zaenal Fanani: Telp. + 62 31 503 3642; Fax. +62 31 503 6584
  • E-mail: fanani_unair@yahoo.com

 Abstract

This study aimed to examine the factors influencing earning management in Indonesia, namely firm characteristics and good corporate governance. This study used META- analysis technique which was developed by Hunter & Schmidt (1990) and Lipsey & Wilson (2001) by using samples consisting of 12 journals which were accredited nationally minimal B. Empirical evidence found that good corporate governance represented by auditor quality, audit committee, management ownership, institutional ownership and independent commissioner, and firm characteristic represented by growth level, firm size, firm performance, firm book value, could be the predictor of earning management existence in a company while the other variable namely operation cash current could not be the predictor of earning management in a company.

Key words: firm characteristics, good corporate governance, META analysis, earnings management

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Reni Yendrawati_Abstract_1812014

TRANSAKSI PIHAK HUBUNGAN ISTIMEWA DAN MANAJEMEN LABA PADA PENAWARAN SAHAM PERDANA

Reni Yendrawati

Sophia Anggarda Paramitha

Jurusan Akuntansi Fakultas Ekonomi UII Yogyakarta

Jl. Prawirokuat, Condong Catur, Depok, Sleman, Yogyakarta, 55283.

Korespondensi dengan Penulis:

Reni Yendrawati: Telp. +62 274 881 546/ Fx. +62 274 882 589

E-mail: reni@fe.uii.ac.id

Abstract

This study was conducted with the background that many companies did earning management through transactions with a related party in Initial Public Offering (IPO). This study aimed to examine the influence of related party transaction about earnings management in IPO. The population in this study was companies listed in Indonesia Stock Exchange. The sampling method used for this study was purposive sampling. This study used 38 samples from non-financial firms that conducted IPO’s in the Indonesia Stocked Exchange in 2009-2011.Paired Sample t-test was used to examine the significant earnings management which was represented by ROA. Multiple linear regression used RP Sales, RP Purchases, and RP Liabilities to the effect of earnings management. The result of this study showed that there was no a significant change between ROAt=-1 and ROAt=0  IPO period. The related party sales transaction did not have a significant effect of earnings management. However, this study indicated that the related party purchases transaction had a significant negative effect  and related party liabilities transaction had a significant positive effect on earnings management.

Key words: earnings management, IPO, related party transaction

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Setiadi Alim_Abstract_1722013

ACCRUAL DAN REAL EARNING MANAGEMENT  DALAM MERESPON PENURUNAN TARIF PAJAK PENGHASILAN BADAN TAHUN 2010

  

Setiadi Alim Lim
Politeknik Universitas Surabaya
Jl. Ngagel Jaya Selatan No.169 Surabaya, 60284.

 

Korespondensi dengan Penulis:
Setiadi Alim Lim: Telp. +62 31 298 1180; Fax. +62 31 298 1182
E-mail: setiadi@ubaya.ac.id

 

Abstract

Research conducted by Guenther (1994) shows the behavior of management to conduct income decreasing earning management in the period of one year before the income tax rate reduction in order to obtain relief the burden of income tax paid. The research of Alim (2009) showed indications of income decreasing earning management in the 2008 financial statements of business entities in Indonesia Stock Exchange responding to a decrease in income tax corporate tax-payers in 2009. This study aimed to investigate whether there is an indication of income decreasing earning management and also on the 2009 financial statements of business entities in Indonesia Stock Exchange responding to reduced income tax rate for corporate tax-payers in 2010. To detect the presence of income decreasing earning management variables to discretionary accruals will be used to indicate the presence of accrual/accounting earnings management and abnormal variable cash flows from operations and abnormal discretionary expenses that may indicate the presence of real earning management. The results showed an indication of income decreasing earning management is detected through a variable discretionary accruals and abnormal cash flow from operations but not found through variable abnormal discretionary expenses.

Key words: earning management, income increasing, income decreasing, accounting/accrual earning management, real earning management

(Full Text. pdf)

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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Yanthi Hutagaol_Abstract_1632012

THE ACCURACY OF EARNINGS FORECAST AND POST-IPO EARNINGS MANAGEMENT

Yanthi Hutagaol
Dezie L. Warganegara
Christofer Wibisono
 School of Accounting & Finance BINUS Business School – BINUS University
Jl. Hang Lekir I No. 6, Jakarta, 10270.

Korespondensi dengan Penulis:

Yanthi Hutagaol: Telp. Telp. +62 21 720 2222; Fax. +62 21 720 5555
E-mail: yhutagaol@binus.edu

Abstract

Prior studies showed that before IPO, many companies conducted earnings management in order to attract potential investors through impressive earnings figures. This study aimed to investigate the tendency of earnings management practice post – IPO. This practice of earnings management was motivated to preserve managers’ reputation in achieving their earnings forecasts. Using a total of 165 IPOs in IDX during year 2000-2010, this study employed descriptive analyses to identify the earnings management differences within the sample. A cross-section analysis was conducted to test the difference of earnings management indicator among the forecasters. Then, controlling for audit quality, ownership, firm size, and firm leverage, a regression analysis was performed to test the impact of earnings forecasts accuracy on the earnings management. The result of this research showed that there was an indication that the forecasters conducted more earnings management than the non-forecasters. The study found that forecast accuracy was significantly related to managers’ behavior to manage post-IPO earnings. Further analysis showed that optimistic forecasters tended to engage more in more earning management than conservative forecasters. The cross section analysis confirmed that optimistic earnings forecast strengthened the relationship of forecast accuracy and post-IPO earnings management, while high audit quality failed to weaken it.

 Key words: earnings forecast, earnings management, initial public offering

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S.Remond Waworuntu_Abstract_1632012

EFFECTS OF CORPORATE GOVERNANCE VARIABLES ON EARNINGS MANAGEMENT IN INDONESIA

 Stephanus Remond Waworuntu

Marko Sebira Hermawan
Sheila Nerissa Hokardi
School of Accounting and Finance BINUS Business School, BINUS University
Jl. Hang Lekir I No.6, Jakarta, 10270.

  • Korespondensi dengan Penulis:
  • Stephanus Remond Waworuntu: Telp:  + 62 21 720 2222, Fax: +62 21 720 5555
  • E-mail: srwaworuntu@binus.edu

Abstract

To determine the effects of corporate governance on earnings management, this paper analyzed 171 annual reports from issued 2006 to 2009 by 57 non-financial, joint stock companies implementing GCG (Good Corporate Governance) practices, which were listed on the Indonesia Stock Exchange (IDX). Six corporate governance variables (board composition, independent commissioners, separate chairman/CEO roles, audit committee, managerial share ownership, and audit quality) as well as three control variables (leverage, size, and ROA) were used. The results showed that two corporate governance variables significantly influenced earnings management practices (separate chairman/CEO roles and managerial share ownership); the other variables had no effect because these companies used GCG practices only to follow regulations rather than to monitor and control.

  Key words: earnings management, working capital accruals, good corporate governance (GCG)

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