According to Jansen in Fatmasari (2010), firms with high investment opportunity experience enormous growth and active investigation. High investigation activities will respond the increasing of opportunity. When the opportunity is increasing, manager would manage the whole projects with high NPV. This is because other managers want to control big assets that suit their remuneration. This leads managers to choose projects which are suitable with managers’ wants, unfortunately the stockholders’ wants are not always the same as the managers. This leads to agency problem that can be reduced if the stockholder apply cross monitoring through private debt . As a result, the company with high investment would prefer to use private debt . Private debt usage is able to monitor every decision made by manager (Denis and Mihov, 2003; Krishnawarni, et al, 1998). From this explanation, it can be hypothesized that the growth opportunity seems to be positive relationship to private debt user.
However, some business fields are restricted to both domestic and foreign investment. According to Presidential Decree (Keputusan Presiden, KP) No. 96 of 2000 jo.118 of 2000, published by Indonesia’s Investment Coordinating Board, there are some “negative investment lists” to domestic and foreign investment. There are 11 sectors that are absolutely closed to all domestic private investment and foreign investment, while there are eight business fields that are closed only to foreign investment. Those closed business fields are germ plasma cultivation, concession for natural resources, contractors in the field of lumbering, taxi and/or bus transportation, small scale sailing, trading and trading supporting services, radio and television broadcasting services providers, and motion picture production industry (see detailed list in appendix I).
corporate ethics and social responsibility were affected by the Hofstede cultural dimension (Vitell et al., 2003). This suggests that cross-cultural studies of the issues addressed in the current paper may actually reveal differences in employees’ ethical decision-making process. Because of the direct effect of the independent variable (Machiavellianism) and mediating variable (PRESOR) did not significantly affect dependent variable (ethical perceptions), this current study did not find an empirical support for the indirect effect of ethical climate and Machiavellianism on ethical perception through the perceived importance of corporate ethics and social responsibility. However, this study found that the perceived importance of corporate ethics and social responsibility was influenced by ethical climate and Machiavellianism. Thus, the findings of the study have practical implications. If corporations take proactive steps to enhance the ethical climate in the organization, this may increase employees’ belief in the importance of corporate ethics and social responsibility to organizational success. Moreover, by enhancing ethical climate in an organization that encourages ethical behavior may lead employees to be more critical to earnings management. This study is subject to a number of limitations; consequently, the results should be interpreted with caution. First, the current study is that relied on a convenience sample obtained through a network of personal contact and corporate secretary. Therefore, future research may consider using probability sampling method in order to assess high external validity of the research findings. Second, as the study was restricted to private industry employees inIndonesia, further research is required in order to assess the generalisability of the result outside that territory. Finally, approximately nineteen instruments were discarded because of incomplete information given and completed by non-finance and accounting staffs. Thus, further research could confirm to the personal contact or corporate secretary when the instruments have already distributed in order to minimize discarded instruments. One possible avenue for future research could also expand on the model used in the current paper to simultaneously examine the effects of Machiavellianism, ethical climate, and other personal or environmental variables that have been found to influence ethical decision making such as cognitive moral development and code of ethics.
So far the analysis of the learning process in the college complex building structure is still dominated by a paradigm that states that a knowledge is the facts that must be memorized. In addition, the classroom situation is still largely focused on lecturers as the main source of knowledge, as well as the use of the lecture method as the primary choice of teaching and learning strategies. One of them by developing approaches, strategies, models, and existing learning methods. This is consistent with the fact that the majority of the teaching and learning process in the civil engineering department is still using the conventional method which is still limited to lecturer-oriented.
Early foreign language teaching has nowa- days become a trend inIndonesia. In many elementary schools English is taught as a com- pulsory subject ranging from grades 1 to 4. Everywhere, foreign language courses, kinder- gartens, and play groups offer special programs for young children and pre-school attendants. This is apparently a step in the right direction, since as a foreign language, English is learned almost exclusively in classrooms, where the very
In order to motivate state organizers require incentive. The financial incentive system as a reward is used to improve the organizational performance index (Silva et al. , 2013). Research on remuneration in the public sector still refers to implementation in the private sector. Vidyatmoko et al. (2009) conduct research on the factors that influence the remuneration of corporate execu- tives and their relationship to company perfor- mance. Research results proved that the company's ability to pay significant positive executive compensation to financial performance, customer performance, and internal business process performance. The results of this study are in line with Wayan and Utami research (2013) stating that the remuneration received by the Board of Directors has a positive effect on the company's market performance but does not affect the internal performance of the company.
Januarti and Fitrianasari (2008) stated that tenure is not significant, while according to Geiger and Raghunandan (2002), Gosh and Moon (2004), these variables significantly affect the going-concern opinion. Decision of the Chairman of Bapepam and LK No: Kep- 310/BL/2008 in Regulation No. VIII.A.2 about the independence of public accountants who provide services in the capital markets, suggests that public accounting firm shall have quality control with a sufficient level of confidence that the public accounting firm or its employees can maintain an independent attitude. But when the relationship between client and accounting firm has been going on for years, clients can be viewed as a source of income for the accounting firm, which potentially can reduce the independence of the accounting firm (Yuvisa et al., 2008).
The results of the test hypothesis 2 retrieved a value t calculate of significance value of 6.109 0.000, which means the value of the count of t these significant 6.109, then Ho denied and Ha is received. Thus it was concluded that the hypothesis that States "thought to exist between application of Islamic Accounting influence (X 2) against the wishes of the consumers to utilize the Sharia Financing" proved to be the truth and can be accepted.
Academic research has shown that social pensions are beneficial for the elderly, their families and, in particular, children residing in an elderly household. Case and Deaton (1996) show that extending pension coverage to poor black elderly in South Africa significantly improved the health of these elderly. Inchauste et al. (2012) find that increases in social pensions have been a main source of poverty reduction in Thailand. Costa (1997) for the United States and De Vos and Lee (1993) and Pal (2007) for South Korea and Taiwan find that extending pension coverage fulfils the wishes of the elderly to be able to sustain their own households for longer and to reduce the immediate need for family care. Likewise, Antman (2010) finds that since remittances from children seem to decrease to the elderly parents in societies with high migration rates, such as Indonesia, the elderly seem to be more in need of social assistance than they could have anticipated during their working lives, which leaves them without sufficient lifetime savings. Similarly, Maitra and Ray (2003) find that pension incomes relieve some poor families from having to make financial transfers to elderly persons that could have jeopardised their own welfare levels.
In comparison to the United States, much of continental Europe experienced almost the opposite situation in terms of the impact of the global financial crisis on employment and unemployment. Though the sovereign debt turmoil in 2011 is likely to change this scenario, the diverging patterns of adjustment during 2008-2010 are important in light of the “eurosclerosis” debate which blames a range of labour market institutions for the poor performance of job creation and high unemployment. Clearly, the situation varies within European countries, but, apart from Spain, Ireland and the Baltic States (the latter having very flexible labour legislation) unemployment rates in these countries have increased by far less during the global financial crisis, despite a more severe economic contraction. In this context, the resilience of the German labour market has understandably received considerable attention: GDP in Germany fell by an astonishing 4.7 per cent in 2009, but at the same time, unemployment increased by only 0.2 percentage points, from 7.3 per cent in 2008 to 7.5 per cent in 2009. Moreover, the German unemployment rate actually fell in 2010, reaching just 6.7 per cent in the third quarter of 2010 (versus 9.6 per cent in the US). Overall, the unemployment rate in the Euro-area increased by 1.9 percentage points over this period (from 7.1 per cent in 2008 to 9.0 per cent in 2009), before rising to 9.6 per cent in 2010. Those countries hit by their own collapsing housing bubbles, such as Spain, Ireland and the Baltic States, have also witnessed a massive surge in the number of jobless; in these economies, the unemployment rate increased by an average of 7.6 percentage points from 2008 to 2009, suggesting that the nature of the shock was another key determinant of labour markets outcomes.
1. The examined annual periods before IFRS convergence and after IFRS convergence is limited to only two years. The examination of a longer range of annual periods for each data population is expected to provide better evidence for the impacts of IFRS convergence.
Chang, J. & Lee, T.N. (2005). The Influence of Parents, Peer Delinquency, and School Attitudes on Academic Achievement in Chinese, Cambodian, Laotian or Mien , and Vietnamese Youth. Journal of Crime & Delinquency, 51, 238-264. University of California.
have received comparatively little attention in the marketing literature (Drumwright, 1994). Yet, the in¯uence of norms holds potential for ex- plaining the behaviour of sportsfans, which seems to be motivated beyond economic incentives. Many soccer clubs have a pool of loyal fans that ap- parently may be willing to literally share in their club Õ s success (Woodford et al., 1998). Therefore, shares have become an essential of the relationship marketing strategy by many soccer clubs. Such a strategy seems needed for the creation of loyalty. Research and business practices have shown that keeping customers through relationship-oriented eorts costs less than ac- quiring new customers (Reichheld & Sasser, 1990). Customer loyalty is not only limited to (re)buying intentions but also included positive word-of- mouth and a certain degree of tolerance (both related to price and perfor- mance) (Zeithaml, Berry & Parasuraman, 1996). Whereas Ô regular Õ publicly held companies interact with their shareholders by issuing ®nancial data and making announcements, the marketing of soccer club shares may require a very dierent approach.
Indonesian banks can offer foreign funds to sophisticated investors if they obtain a license to do so from OJK. However, such foreign funds must be registered before they can be so offered by the bank; to date, OJK has not established any procedures to accommodate registration of foreign funds.
There is, however, a logically prior question concerning the legitimacy of prescribing how parents should raise their children. An argument against such a prescription is that it entails an arrogant and classist judgment that some ways of parenting are better than others and that the practices deemed better invariably reflect the values of the dominant culture (see Pine, 1992). The fact that educated academics regard authoritative parenting as the preferable style and that high levels of education are associated with being an authoritative parent and with being a research scientist may be an example of this imposition of values by a higher-SES group on a lower-SES group. A related concern is the fact that the values attached to outcomes may vary as a function of SES. Although some outcomes, for example, the death of a child, are universally regarded as bad, others, for example, teen pregnancy, may not be. One potential solution is to allow that different values and practices may be appropriate adaptations to the social conditions that prevail within socioeconomic strata, while at the same time recognizing that some manners of parenting may better prepare children for participation in particular social niches (Laosa, 1980). This analysis suggests that generalizations from the literature should be limited to studies that identify aspects of parenting that are associated with universally valued outcomes, such as mental health, reproductive success, and successful socialization as a member of one’s culture. There is no doubt, however, that most research in the area of SES and parenting is aimed at identifying aspects of parenting that are associated with positive outcomes as defined by the majority culture, such as avoiding public assistance and succeeding in school.
At least, there are five genres stated in the textbook such as procedure, descriptive, recount, narrative, and report genre and each of them should provide linguistic feature, generic structure, and social function 7 as the demand of KTSP. However, the fact is hard to find the suitable textbooks that fulfill the requirements of KTSP. As a corollary, many publishers publish various textbooks to overcome it. Besides, as the users, English teachers have to be careful to find the suitable textbooks in order to encourage the textbook writers to produce the textbooks that can be used in the school properly. If one of those features, linguistic feature, generic structure, and social function, do not include on the genres, the students will face the difficulty to identify the reading texts.
Jensen. M.C. and W.H. Meckling, 1976.“Theory of The Firm : Managerial Behavior, Agency Costs and Ownership Structure”, Journal of Financial Economics 3 (1976) 305-360. University of Rochester, Rochester, NY. Ku Ismail, K.,& Chandler, R.(2004).The timeliness of quarterly financial reports
of variety. Performance is associated not with notional correlations between speci®c task con- tingencies, strategies, organisation and human resources, but with the capacity to integrate con- ceptually distinct and opposed task contingencies and strategy elements. Thus, performance arises from the combination of what has been conceived of as distinct alternatives: cost leadership and dif- ferentiation in the product range; production e- ciency and product quality; ¯exibility and productivity improvement; economies of scale and scope; mechanistic and organic forms. Sorge (1991, p. 184) argues that ``wider societal arrange- ments have an important function within this framework . . . they allow actors to combine see- mingly contradictory or con¯icting elements''. As such, economically central organisational patterns vary in structurally signi®cant detail between mature industrialised countries. Beyond this, it is not evident along any conventional measure of economic eciency or eectiveness that one parti- cular national pattern is more viable than another. The societal eects perspective is concerned more with the systematic analysis of ``choice-con- straint dialectics'' (Sorge & Warner, 1986, p. 13) than with notions of unidirectional causation sub- scribed to by the structural contingency and cul- turalist frameworks discussed above. It does not presuppose the notion that goal de®nition must precede means selection, nor that choice is in practice legitimated ex-ante rather than ex-post. Under conditions of social change, organisational structuring is seen as emergent and analysed in the context of societal, economic and institutional in¯uences which form a ``complex tangle of impacts'' (Sorge & Warner, 1986). This is relevant in the context of comparative management control research as it is recognised that control systems designers within organisations do not simply cre- ate systems of control which are fully re¯ective of their intended ideal in practice (Hopwood, 1987b). Rather, planned structures have both intended and unintended eects upon the perspectives and expectations of organisational actors (Green & Murphy, 1996; see also Hopwood & Miller, 1994). The focus of interest of the societal eects approach is on correspondences between organi- sation structure and societal context, whilst
Using 125 samples obtained from the IDX, i.e. firms that manage to survive the crisis and at least have existed since 1996 until 2001, the author utilised the piecewise-linear regressions model developed by Basu (1997). By adopting this method, the author was able to investigate whether stock returns could lead earnings, whether stocks with negative returns had higher magnitudes compared to the positive ones, and whether accruals more promptly in reflecting bad news after the crisis relative to cash flows.
Alipour, M. (2011). Working capital management and corporate profitability: Evidence from Iran. World Applied Sciences Journal, 12(7), 1093 – 1099. Ambarita, M. (2009). Pengaruh Perputaran Piutang terhadap Return On Asset (ROA) pada Perusahaan Makanan dan Minuman yang Terdaftar Di Bursa Efek Indonesia. Jurnal Akuntansi.