The effect of market pricing accrual, foreign ownership, financial distress, and leverage on the integrity of financial statements

The purpose of this research is to analyse the effect of market pricing accrual, foreign ownership, financial distress, and leverage on the integrity of financial statements, using multiple regression analysis and logistic regression. The research uses 363 samples, comprising the data of 121 manufacturing companies listed on the Indonesia Stock Exchange over three years, from 2013 to 2015. The results show that market pricing accrual has a significant positive influence on the integrity of financial statements, while a company?s leverage has a significant negative influence. Bankruptcy and foreign ownership have no significant effect on financial statements? integrity. Based on the research results, when assessing the integrity of financial statements a company?s stakeholders should pay most attention to market pricing accrual and the company?s leverage. In addition, regulators should produce standards or guidelines governing the company?s remit and responsibilities regarding financial statements.

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PERAN PEMODERASI TRANSPARANSI INFORMASI : PENGHINDARAN PAJAK DAN NILAI PERUSAHAAN (Studi Empiris pada Perusahaan Manufaktur di Indonesia)

Fokus Ekonomi : Jurnal Ilmiah Ekonomi ◽

10.34152/fe.14.2.407-418 ◽

2019 ◽

Vol 14 (2) ◽

pp. 407-418

Author(s):

Andi Kartika ◽

Sri Sudarsi ◽

Moch Irsad

Keyword(s):

Firm Value ◽

Stock Exchange ◽

Tax Avoidance ◽

Financial Statements ◽

Positive Influence ◽

Annual Reports ◽

Manufacturing Companies ◽

Effective Tax Rate ◽

Tax Rate ◽

Significant Positive Influence

This study aims to examine and obtain empirical evidence about the effect of tax avoidance on firm value with transparency as a moderating variable in manufacturing companies listed on the Stock Exchange in 2013-2017. The data used is archived data in the form of annual reports and financial statements of manufacturing companies listed on the IDX. The results of this study indicate that tax avoidance as measured by the Effective Tax Rate (ETR) proxy which has a significant positive influence on firm value measured using Tobins' Q ratio and transparency can weaken the moderation between the effect of tax avoidance on firm value

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Corporate Governance Structures and Probability of Financial Distress: Evidence From Indonesia Manufacturing Companies

International Journal of Financial Research ◽

10.5430/ijfr.v12n1p174 ◽

2020 ◽

Vol 12 (1) ◽

pp. 174

Author(s):

Maria Goreti Kentris Indarti ◽

Jacobus Widiatmoko ◽

Imang Dapit Pamungkas

Keyword(s):

Corporate Governance ◽

Financial Distress ◽

Audit Committee ◽

Stock Exchange ◽

Institutional Ownership ◽

Negative Influence ◽

Audit Committees ◽

Managerial Ownership ◽

Manufacturing Companies ◽

A Company

This study aims to examine the effect of four variables, which include independent commissioners, audit committees, institutional ownership and managerial ownership as a proxy for the corporate governance mechanisms on financial distress. This was carried out on the manufacturing companies listed on the Indonesia Stock Exchange (IDX) in 2016-2018. The samples were selected using the purposive sampling method and 224 data were obtained. The hypothesis in this study was tested using logistic regression. The results showed that independent commissioners have a negative influence on financial distress, while the audit committee, institutional ownership and managerial ownership have no effect. This implies that an independent commissioner functions as an effective supervisory mechanism to prevent a company from experiencing financial distress. Furthermore, two control variables used in this study, namely leverage and profitability, were able to produce results as predicted. It was discovered that a higher leverage level leads to a greater possibility of experiencing financial distress and conversely, the higher the profitability of a company, the lower the probability of experiencing financial distress.

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Struktur Kepemilikan, Profitabilitas, dan Nilai Perusahaan: Mediasi Kebijakan Deviden

Jurnal Inspirasi Bisnis dan Manajemen ◽

10.33603/jibm.v4i1.3362 ◽

2020 ◽

Vol 4 (1) ◽

pp. 1

Author(s):

Christina Heti Tri Rahmawati

Keyword(s):

Firm Value ◽

Quantitative Research ◽

Stock Exchange ◽

Institutional Ownership ◽

Negative Influence ◽

Positive Influence ◽

Manufacturing Companies ◽

Dividend Payout ◽

Insider Ownership ◽

Significant Positive Influence

Abstract. This research aims to investigate the influence of insider and institutional ownership, profitability towards firm value through dividend payout ratio as the intervening variable. The research method was quantitative research. The samples employed were the manufacturing companies registered in Indonesia Stock Exchange 2016-2018. The statistic method was analyzed by path analysis. The results of this research showed that insider ownership brought significant negative influence towards the firm value; the profitability brought significant positive influence towards the firm value and the dividend payout ratio brought significant positive influence towards the firm value. The intervening testing results proved the dividend payout did not intervene in the influence of the insider and institutional ownership towards the firm value, and the dividend intervened in the influence of profitability towards the firm value. The research implication for investors includes the drastic increase in profit and benefits. Meanwhile, for companies, they could enhance the insider share ownership and performance to earn optimum profitability and dividend that could boost the firm’s value and grab more investors. Keywords: Insider Ownership; Institutional Ownership; Profitability; Firm Value; Dividend Payout Ratio. Abstrak. Penelitian ini bertujuan menguji pengaruh kepemilikan manajerial, kepemilikan institusional dan profitabilitas terhadap nilai perusahaan melalui kebijakan deviden sebagai variabel mediasi. Metode penelitian yang digunakan adalah penelitian kuantitatif. Sampel yang digunakan adalah perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia tahun 2016-2018. Metode statistik untuk menguji hipotesis menggunakan analisis jalur. Hasil penelitian menunjukkan kepemilikan manajerial berpengaruh negatif signifikan terhadap nilai perusahaan; profitabilitas dan kebijakan deviden berpengaruh positif signifikan terhadap nilai perusahaan serta kebijakan deviden berpengaruh positif signifikan terhadap nilai perusahaan. Sedangkan hasil uji mediasinya membuktikan kebijakan deviden tidak memediasi pengaruh kepemilikan manajerial dan kepemilikan institusional terhadap nilai perusahaan;serta kebijakan deviden memediasi pengaruh profitabilitas terhadap nilai perusahaan. Implikasi penelitian ini bagi investor dapat memilih perusahaan dengan tingkat laba yang tinggi sehingga menerima keuntungan tinggi. Sedangkan bagi perusahaan dapat meningkatkan kepemilikan saham manajerial dankinerja perusahaan agar menghasilkan profitabilitas yang optimal serta dividen yang tinggi, sehingga meningkatkan nilai perusahaan dan menarik investor. Kata kunci: Kepemilikan Manajerial; Kepemilikan Institusional;Profitabilitas; Nilai Perusahaan; Kebijakan Deviden.

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THE PROFITABILITY, FIRM’S SIZE, DIVIDEND PAYOUT RATIO AND FIRM’S VALUE: CAPITAL STRUCTURE INTERVENTION

Jurnal Ekonomi Bisnis dan Kewirausahaan ◽

10.26418/jebik.v9i3.39765 ◽

2020 ◽

Vol 9 (3) ◽

pp. 218

Author(s):

Christina Heti Tri Rahmawati

Keyword(s):

Capital Structure ◽

Large Scale ◽

Stock Exchange ◽

Scale Up ◽

Negative Influence ◽

Positive Influence ◽

Manufacturing Companies ◽

Dividend Payout ◽

Significant Positive Influence ◽

The Capital Structure

This research aims to investigate the influence of profitability, firm’s size, and dividend payout ratio towards firm’s value with the capital structure as the intervening variable. The samples employed were the manufacturing companies registered in Indonesia Stock Exchange from 2016-2018. The statistic method used to investigate the hypothesis was a path analysis. The result of the hypothesis investigation proved that the profitability brought significant negative influence towards capital structure, the firm’s size and dividend payout ratio brought insignificant influence towards capital structure; the profitability, firm’s size, dividend payout ratio, and capital structure brought significant positive influence towards the firm’s value. On the other hand, the intervening testing results proved that the capital structure intervened in the influence of the profitability towards the firm’s value, and the capital structure did not intervened in the influence of the firm’s size and dividend payout ratio towards the firm’s value. Being able to pick stocks with profitability value and high dividend payout ratio and choosing a large-scale company are the research implications for investors to scale up the firm’s value. Furthermore, companies can increase profitability, pay higher dividend, and choose a large-scale company by balancing the capital structure, so that firm’s value increases.

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ANALYSIS OF THE INFLUENCE OF INTEREST RATE, EXCHANGE VALUE, WORLD GOLD PRICES, DOW JONES INDEX, AEX INDEX, DAX INDEX, AND SHANGHAI INDEX ON LQ45 INDEX IN INDONESIA STOCK EXCHANGE 2012 – 2018

JABE (Journal of Applied Business and Economic) ◽

10.30998/jabe.v7i2.7824 ◽

2021 ◽

Vol 7 (2) ◽

pp. 135

Author(s):

Andini Nurwulandari ◽

Hasanudin Hasanudin ◽

Ari Jatmiko Setiyo Budi

Keyword(s):

Exchange Rate ◽

Interest Rate ◽

Stock Exchange ◽

Negative Influence ◽

Positive Influence ◽

Gold Price ◽

Jones Index ◽

Exchange Value ◽

The Interest Rate ◽

Significant Positive Influence

This research aims to find out the influence of interest rate, exchange rate, world gold price, Dow Jones Index, AEX Index, DAX Index, and Shanghai Index on the LQ45 Index at the Indonesia Stock Exchange from 2012 through 2018 using the ARCH/GARCH model as the method of analysis. The result of the test shows that the exchange rate had a significant negative influence, Dow Jones Index, AEX Index, and DAX Index had a significant positive influence on the LQ45 index, while the interest rate and world gold price had a non-significant negative influence and the Shanghai Index had a non-significant positive influence on the LQ45 index.

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PENGARUH FIRM SIZE, FINANCIAL DISTRESS, DEBT LEVEL, DAN MANAGERIAL OWNERSHIP TERHADAP KEPUTUSAN HEDGING PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA

JMM UNRAM - MASTER OF MANAGEMENT JOURNAL ◽

10.29303/jmm.v9i1.484 ◽

2019 ◽

Vol 9 (1) ◽

Author(s):

Husna Anniyati ◽

Hermanto Hermanto ◽

Siti Aisyah Hidayati

Keyword(s):

Data Analysis ◽

Firm Size ◽

Financial Distress ◽

Sampling Method ◽

Stock Exchange ◽

Financial Statements ◽

Managerial Ownership ◽

Manufacturing Companies ◽

Debt Level ◽

Analysis Technique

This study aims to analyze the influence of firm size, financial distress, debt level, and managerial ownership on hedging decisions on manufacturing companies listed on the Indonesia Stock Exchange. This type of research is associative-causality research. The population of this research is all the go pubic manufacturing companies on the Indonesia Stock Exchange, which are 170 companies. The number of samples used was 81 companies, which were taken using a purposive sampling method. Data collection techniques use documentation techniques obtained from the annual financial statements of manufacturing companies. The data analysis technique uses the logistic regression analysis method. The results of data analysis show that: (1) firm size and managerial ownership variables have a positive and significant effect on hedging decisions and (2) financial distress and debt levels have a negative and insignificant effect on hedging decisions.Keywords:hedging, firm size, financial distress, debt level, managerial ownership

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Influence analysis of ownership structure on manufacturing company's performance in Indonesia 2012 - 2013

The Accounting Journal of Binaniaga ◽

10.33062/ajb.v4i2.341 ◽

2019 ◽

Vol 4 (2) ◽

pp. 47

Author(s):

Darwin Marasi Purba ◽

Jhon Herlan Sianturi

Keyword(s):

Firm Performance ◽

Ownership Structure ◽

Stock Exchange ◽

Control Variable ◽

Institutional Ownership ◽

Foreign Ownership ◽

Manufacturing Companies ◽

Analysis Model ◽

Return On Assets ◽

A Company

The purpose of this study is to analyse the effect of ownership structure on profitability in the manufacturing sector listed in Indonesia Stock Exchange (BEI). Independent variables used for this study consist of institutional ownership, foreign ownership, and pubic ownership. Profitability is measured by ROA (Return On Assets). While leverage as firm size is used as the control variable. This research uses secondary data, namely the annual financial statements of listed manufacturing companies in Indonesia Stock Exchange for the years 2012, and 2013. The sampling method used was purposive sampling and data analysis model used was multiple regression analysis. Results from this study indicate that institutional ownership in a company has a positive and significant effect on firm performance. Meanwhile, the foreign ownership and public ownership has no a positive effect on firm perforrmance in a company. Keyword: Ownership structure, Return on assets (ROA), Firm performance.

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PENGARUH KECAKAPAN MANAJERIAL, PENERAPAN CORPORATE GOVERNANCE, KOMPENSASI BONUS DAN LEVERAGE TERHADAP MANAJEMEN LABA DENGAN UKURAN PERUSAHAAN SEBAGAI VARIABEL MODERASI (PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BEI 2015-2017)

Jurnal Magister Akuntansi Trisakti ◽

10.25105/jmat.v5i2.5072 ◽

2019 ◽

Vol 5 (2) ◽

pp. 165

Author(s):

Binsar Simajuntak ◽

Lucky Amirullah Anugerah

Keyword(s):

Corporate Governance ◽

Earnings Management ◽

Firm Size ◽

Stock Exchange ◽

Negative Influence ◽

Positive Influence ◽

Company Size ◽

Manufacturing Companies ◽

Managerial Skills ◽

Positive Effect

The purpose of this study was to examine the effect of Managerial Skills, Corporate Governance, Bonus Compensation, Leverage on Earnings Management with Company Size as a moderating variable. Managerial ownership is measured using Confirmatory Factor Analysis, Corporate Governance is measured based on the Asean Corporate Governance Balance Scorecard, Bonus Compensation is measured by the company's dummy compensation bonus, Leverage is measured using the debt to equity ratio, Company Size is measured using Log Natura of total assets, and Profit management is measured by using the Stubben model with the Conditional revenue model proxy.Hypothesis testing is done by using multiple regression models by first performing a classic assumption test. The population and sample used in this study were 80 companies with a total of 181 observation samples of manufacturing companies listed on the Indonesia Stock Exchange in the 2015-2017 period. The results of this study are (1) Managerial skills do not have a positive effect on earnings management (2) Corporate governance does not negatively affect earnings management (3) Bonus compensation has a positive effect on earnings management (4) Leverage has a positive effect on earnings management (5) Size company has a negative effect on earnings management (6) Company size does not weaken the positive influence of managerial skills on earnings management (7) Firm size does not weaken the negative influence of corporate governance on earnings management (8) Firm size weakens the positive effect of bonus compensation on earnings management (9) Company size weakens the positive influence of leverage on management.

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Impact of Good Corporate Governance on Financial Distress in the Consumer Goods Sector Company

Summer - GATR Journal of Finance and Banking Review ◽

10.35609/jfbr.2017.2.4(6) ◽

2017 ◽

Vol 2 (4) ◽

pp. 46-55

Author(s):

Sri Marti Pramudena

Keyword(s):

Corporate Governance ◽

Consumer Goods ◽

Financial Distress ◽

Stock Exchange ◽

Secondary Data ◽

Institutional Ownership ◽

Annual Reports ◽

Manufacturing Companies ◽

Good Corporate Governance ◽

A Company

Objective - Financial distress is referred to as a condition in which a company's operations result in insufficient funds to meet its obligations (insolvency). The success or failure of a company greatly depends on the corporate governance of the company. This study aims to identify the relationship between the existence of good corporate governance and the probability of financial distress. Methodology/Technique - This study used secondary data obtained from annual reports from 2009 to 2014. The data is gathered from consumer goods manufacturing companies, that are listed on the Indonesian Stock Exchange (BEI). The sample includes 10 companies. The method of analysis used is multiple linear regressions. Findings - The results of the study show that institutional ownership and managerial ownership adversely affect the possibility of financial distress. On the other hand, the proportion of commissioners and the number of board of directors have a positive effect on the probability of financial distress. Novelty - This study found that institutional ownership (IO) has an inverse effect on the financial distress of a company. Type of Paper - Empirical Keywords: Good Corporate Governance; Financial Distress; Corporate Performance. JEL Classification: G30, G34, G39.

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Analysis Of Factors Affecting Auditor Switching In Manufacturing Companies Listed On The Indonesia Stock Exchange

Return : Jurnal Akuntansi ◽

10.35335/return.v12i1.64 ◽

2021 ◽

Vol 12 (1) ◽

pp. 08-15

Author(s):

Lora Ferbina Bangun

Keyword(s):

Financial Distress ◽

Stock Exchange ◽

Secondary Data ◽

Financial Statements ◽

Audit Fees ◽

Test Results ◽

Manufacturing Companies ◽

Factors Affecting ◽

Auditor Switching ◽

Management Changes

Auditor switching is the turn of KAP and auditor carried out by the company for a reason or there are certain factors of the company or of the auditor itself. This study aims to determine the effect of audit fees, financial distress auditor size, client size, and management change to the auditor switching on manufacturing companies listed in the Indonesia Stock Exchange 2011-2014 period. This study used secondary data obtained from financial statements published on the internet through the official website of Indonesia Stock Exchange www.idx.co.id.The research sample is manufacturing companies listed in the Indonesia Stock Exchange 2012-2014. Sampling using purposive sampling and obtained a sample of 96 observations of 32 companies sampled in this study. Hypothesis testing is done by using logistic regression. From the test results indicate that audit fees, financial distress, auditor sie, clients size, and management changes do not influence auditor switching.

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