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SIMPOSIUM NASIONAL AKUNTANSI XXII PAPUA 2019
Pengaruh Intellectual Capital Dan Competitive Intensity Terhadap Financial
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SIMPOSIUM NASIONAL AKUNTANSI XXII PAPUA 2019
CORPORATE GOVERNANCE RECOMMENDATIONS, MECHANISMS, AND EXPROPRIATION AMONG INDONESIAN PUBLIC COMPANIES
Fitrianna Parahita Imam Subekti
Universitas Brawijaya Universitas Brawijaya
[email protected]
Bintang Kusucahyo Universitas Katolik Widya Karya
[email protected] ABSTRACT
The concentrated ownership structure in Indonesia led to agency conflicts between the controlling shareholder and minority shareholder which is known as agency problem type II. This problem will lead to expropriation used by the controlling shareholder to maximize their own interest against the minority shareholders. This research primarily aims to examine the effect of corporate governance recommendations and mechanisms on expropriation among Indonesian public companies. The population research is Indonesian public companies.
Samples are selected by purposive sampling method resulting 91 samples. The research results show that corporate governance recommendations, frequency of commissioner board’s meeting and frequency of audit committee’s meeting negative affect to the expropriation. While, number of independent commissioner board does not affect the expropriation. This study contributes to agency theory type II which solute conflicts between controlling and minority shareholders, which can be overcome by the use of corporate governance mechanisms.
Keywords: corporate governance recommendations, frequency of board commissioner’s meeting, frequency of audit committee’s meeting, related party transaction
ABSTRAK
Struktur kepemilikan perusahaan publik Indoensia adalah bersifat terkonsentrasi, kondisi dapat mengarah pada adanya konflik agensi antara pemegang saham minoritas dan pemegang saham pengendali. Konflik ini sering dikenal dengan problem agensi tipa II. Problem agensi ini dapat menimbulkan praktik ekspropriasi oleh pemegang saham pengendali untuk memaksimalkan kepentingannya dan akan merugikan pemegang saham minoritas. Tujuan penelitian ini adalah untuk menguji pengaruh rekomendasi dan mekanisma tata kelola perusahaan pada praktik ekspropriasi untuk perusahaan publik Indonesia. Sampel penelitian sebanyak 91 perusahaan dipilih berdasarkan pada metoda purposive sampling. Hasil penelitian menunjukkan bahwa rekomendasi tata kelola perusahaan, frekuensi rapat dewan komisaris, dan frekuensi rapat komite audit berpengaruh negatif pada ekspropriasi. Sementara jumlah dewan komisaris independen tidak berpengaruh pada praktik ekspropriasi. Hasil penelitian memberi kontribusi atas keberadaan teori Agensi Tipa II yang dapat digunakan untuk memberi solusi atas masalah/ konflik agensi antara pemegang saham minoritas dengan pemegang saham pengendali melalui mekanisma tata kelola perusahaan.
Kata Kunci: rekomendasi tata kelola perusahaan, frekuensi rapat dewan komisaris, frekuensi rapat komite audit, transaksi pada pihak berelasi.
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SIMPOSIUM NASIONAL AKUNTANSI XXII PAPUA 2019
MANAJEMEN LABA RIIL, NILAI PERUSAHAAN, DAN TATA KELOLA PERUSAHAAN
Melani Rahmayanti Imam Subekti
Universitas Brawijaya Universitas Brawijaya
[email protected] [email protected]
Endang Mardiati Universitas Brawijaya
[email protected] ABSTRACT
This study is conducted at the companies listed in Indonesia Stock Exchange. Aim of this study is to examine whether the manager engage in earnings management to avoid negative earnings or not, also to examine effect of earnings management on firm value which is moderated by corporate governance. The results of this study shows that earnings management is engaged to avoid negative earnings through increasing cost of production and discretionary cost. In addition, earnings management has negative effect on firm values. Corporate governance measured by independent commissioner proxy weakens effect of earnings management measured by abnormal operational cash flow on the firm value. Otherwise, corporate governance measured by managerial ownership and institutional ownership proxies strengthen effect of earnings management measured by abnormal cost production on the firm values.
Keywords: Real Earnings Management, Independent Commisioner, Managerial Ownership, Institusional Ownership, Firm Value
ABSTRAK
Penelitian ini dilakukan pada perusahaan public yang terdaftar di Bursa Efek Indonesia. Tujuan penelitian ini adalah untuk menguji apakah manajer melakukan manajemen laba untuk menghindari laba negative atau tidak, juga menguji pengaruh manajemen laba pada nilai perusahaan yang dimoderasi oleh tata kelola perusahaan. Hasil penelitian menunjukkan bahwa manajemen laba yang dilakukan oleh manajer bertujuan untuk menghindari laba negative. Manajemen laba yang dilakukan dengan cara memperbesar beban produksi dan beban diskresioner. Tata kelola perusahaan yang diukur dengan komisaris independen terbukti memperlemah pengaruh manajemen laba (yang diukur dengan abnormal arus kas operasional) pada nilai perusahaan. Sebaliknya, tata kelola perusahaan yang diukur dengan kepemilikan manajerial dan institusi memperkuat pengaruh manajemen laba (yang diukur dengan abnormal beban produksi) pada nilai perusahaan.
Kata Kunci: Firm Value, Kepemilikan Independen, Komisioner Independen, Manajemen Laba Riil
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SIMPOSIUM NASIONAL AKUNTANSI XXII PAPUA 2019
Profitabilitas, Leverage, Kebijakan Deviden, Struktur Modal, Ukuran Perusahaan dan Nilai Perusahaan
Jenis Sesi Paper: Full paper
Aranda Tomy Septyadenta Jurusan Akuntansi FEB Universitas Sebelas Maret [email protected]
Falikhatun Jurusan Akuntansi FEB Universitas Sebelas Maret [email protected]
Anis Wijayanto
Jurusan Akuntansi FEB Universitas Sebelas Maret [email protected]
Abstract: This study aims to explain the effect of profitability, leverage, dividend policy. and capital structure to firm value. The object of this research is manufacture company listed on the Indonesia Stock Exchange. Sampling method in this study using purposive sampling. Analytical techniques used in this study using multiple linear regression which include normality test, test classic assumptions and hypothesis testing. Using a sample of 502 firm year observations for the years 2014–2017, we report five findings.
We find that profitability, leverage, dividend policy and capital structure simultaneously affect the value of the firm but the firm size does not affect to value of the firm
Keywords: capital structure, firm size, firm value, dividend policy, leverage,
profitability
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SIMPOSIUM NASIONAL AKUNTANSI XXII PAPUA 2019