Pengaruh Leverage, Profitabilitas, Size, Nilai Saham, Cash Holding, dan Bonus Plan terhadap Perataan Laba

Income smoothing is one way that companies do to manipulate data. Income smoothing often occurs in companies that experience losses and report profits for the next period, so that profits will look stable for the following period and the previous period, for example in a manufacturing company in the consumer goods industry sub-sector. Internal and external parties will pay attention to several factors that affect income smoothing within the company. This study aims to analyze and examine the effect of leverage, profitability, firm size, cash holding, and bonus plan on income smoothing. The population used in this study is the consumer goods industrial sub-sector manufacturing companies listed on the Indonesia Stock Exchange (IDX) in the last five years, namely 2016-2020 with a final sample of 142. The sampling method used in this study was using atechnique. Purposive sampling. The data analysis technique uses multiple regression analysis using the SPSS 26 program. The results of this study partially explain that leverage , profitability, company size, cash holding, and bonus plans affect income smoothing, while simultaneously forvariables leverage have no effect on income smoothing., the size of the company has no effect on income smoothing, and the bonus plan has no effect on income smoothing, while the profitability variable has a positive effect and cash holding has a positive effect on income smoothing.

A Test of Income Smoothing Using Pseudo Fiscal Years

The purpose of our study is to further understand managerial incentives that affect the volatility of reported earnings. Prior research suggests that the volatility of fourth-quarter earnings may be affected by the integral approach to accounting (i.e., “settling up” of accrual estimation errors in the first three quarters of the fiscal year) or earnings management to meet certain reporting objectives (e.g., analyst forecasts). We suggest that another factor affecting fourth-quarter earnings is managers’ intentional smoothing of fiscal-year earnings. For each firm, we create pseudo-year earnings using four consecutive quarters other than the four quarters of the reported fiscal year. We then compare the earnings volatility of pseudo years to the earnings volatility of the firm’s own reported fiscal year. We find evidence consistent with fourth-quarter accruals reflecting managerial incentives to smooth fiscal-year earnings. This conclusion is validated by several cross-sectional tests, the pattern in quarterly cash flows and accruals, and several robustness tests. Overall, we contribute to the literature exploring alternative explanations for the differential volatility of fiscal-year and fourth-quarter earnings. This paper was accepted by Brian Bushee, accounting.

The Determinants of Income Smoothing: Study of Indonesian Manufacturing Companies

The purpose of this research is to obtain empirical evidence about the effect of profitability, financial, dividend payout ratio and firm size towards income smoothing. The dependent variable of this research is income smoothing measured by Eckel Index. The independent variables of this research are profitability measured by Net Profit Margin (NPM), financial leverage measured by Debt to Assets Ratio (DAR), Dividend Payout Ratio (DPR), and firm size measured by natural logarithm assets. The samples were determined based on purposive sampling method. The sample of this research are 11 manufacture companies that listed in Indonesian Stock Exchange (IDX) in 2016-2018. Secondary data used in this research was analyzed by using logistic regression method. The result of this research are (1) profitability (NPM) has no positive effect towards income smoothing, (2) financial leverage (DAR) has no positive effect towards income smoothing, (3) Dividend Payout Ratio (DPR) has no positive effect towards income smoothing, (4) firm size has significant negative effect towards income smoothing, (5) profitability, financial leverage, Dividend Payout Ratio, and firm size has significant effect towards income smoothing.

Expected credit losses and managerial discretion. Current practices and future challenges

This paper examines the loan loss provisioning behaviour during the transition from IAS 39 to IFRS 9 for a sample of 403 banks in 27 countries in European Union. The objective of the study is to investigate whether during the first years of adoption of the new expected credit loss (ECL) impairment model banks are more en-couraged to smooth earnings and manage capital, compared to the previous in-curred loss (ICL) model. Results show that under ECL, banks adopt a more ag-gressive opportunistic behaviour in accordance with the income-smoothing and capital management approach. Management should be aware of this to implement monitoring and control systems, increasing trustworthiness of financial in-formation for investors' expectations.

Energy Poverty, Climate Change and Economic Growth

The study objectives were to determine the short and long-run effects of energy poverty and climate change on economic growth and to theoretically describe the driving factors of household energy poverty status using the Nigeria Demographic and Health Survey (NDHS) dataset, 2018. The Autoregressive Distributed Lagged (ARDL) model was used to estimate variables based on data from 1980 to 2018. The results indicate that energy poverty has a negative or inverse relationship with the GDP growth; energy imports contribute an average of ten percent to the value of the GDP growth. Traditional and dangerous forms of energy use are predominant in Nigerian households. This poses a threat not only to the environment but also to the health of the public. An awareness-raising campaign on using safe and environmentally friendly energy sources should be a priority in Nigeria. Likewise, energy poverty reduction interventions, probably in the form of promotion of cheap and efficient clean energy technologies in the rural sector and the northern region (most especially Northeast), should be executed to enable the households to exit the energy poverty trap. Income smoothing policy measures probably in the form of poverty reduction and safety-net programs should be directed towards the low-income earners in the country in order to ease their level of poverty, of which energy poverty is an important segment.

THE EFFECT OF LEVERAGE, FIRM SIZE, AND SALES GROWTH ON INCOME SMOOTHING AND ITS IMPLICATION TO THE FIRM VALUE (STUDY ON STATE-OWNED COMPANIES LISTED IN INDONESIA STOCK EXCHANGE 2016-2019)

The purpose of this research was to determine the effect of leverage, firm size and sales growth on income smoothing and its implication to the firm value. The population used on this research was 24 state-owned companies listed on Indonesia Stock Exchange. The samples were determined using purposive sampling method and there were 19 companies which selected as the samples. The analytical method used on this research was statistic descriptive and panel data regression and use Eviews 9 for data processing. The result of this research showed that leverage which measured by debt to equity ratio has negative and insignificant effect on income smoothing while firm size and sales growth have negative and significant effect on income smoothing and income smoothing itself was found to have positive and significant effect on the firm value

PENGARUH CASH HOLDING DAN FINANCIAL LEVERAGE TERHADAP PERATAAN LABA (INCOME SMOOTHING) DENGAN GOOD CORPORATE GOVERNANCE SEBAGAI VARIABEL MODERATING

Tujuan dari penelitian ini adalah untuk menguji pengaruh cash holding dan financiallleverage terhadap perataan laba (income smoothing) dengan goodlcorporatelgovernancelsebagai variabel moderating. Penelitian ini menggunakan perusahaan manufaktur yang terdaftarldi Bursa Efek Indonesia (BEI) tahun 2017-2019 sebagai sampel. Sampel penelitian ini berjumlah 174 perusahaan yang dipilih dengan metode purpossive sampling, dengan periode pengamatan 3 tahun. Metode yang digunakan untuk menganalisis hubungan antar variabel adalah metode regresi logistik. Berdasarkan hasil penelitian dapat diperoleh simpulan bahwa cash holding tidaklberpengaruh terhadap perataan laba (income smoothing), financial leverage berpengaruh terhadap perataan laba (income smoothing), good corporate governance tidak mampu memperlemah pengaruh cash holding terhadap perataan laba (income smoothing), dan good corporate governance mampu memperlemah pengaruh financial leverage terhadap perataan laba (income smoothing).