ASIMETRI INFORMASI MEMODERASI PENGARUH EARNING PERSISTENCE DAN INCOME SMOOTHING TERHADAP FUTURE EARNING RESPONSE COEFFICIENT

<p>Tujuan penelitian ini adalah untuk memperoleh bukti empiris pengaruh earning persistence dan income smoothing terhadap future earning response coefficient (FERC) dengan asimetri informasi sebagai variabel moderasi. FERC merupakan informasi yang memungkinkan perusahaan memiliki pengetahuan tertentu mengenai future earnings pada saat perusahaan mengetahui current stock price, sehingga harga saham dapat merupakan sinyal terhadap future earnings. Metodologi penelitian yang digunakan adalah Moderated Regression Analysis (MRA), sampel penelitian adalah 86 perusahaan manufaktur yang terdaftar pada Bursa Efek Indoensia selama periode 2013 s/d 2017 dengan demikian terdapat 430 observasi, metode pengambilan sampel menggunakan purposive sampling. Penelitian menunjukan bahwa hanya variabel income smoothing yang memiliki pengaruh signifikan terhadap future earning respon koefisien, selanjutnya asimetri informasi mampu memperkuat pengaruh income smoothing terhadap future earning response koefisien. Sedangkan variabel kontrol yang memiliki pengaruh signifikan terhadap future earning respon koefisien hanya variabel invesment opportunity set dan audit committe. Kontribusi penelitian ini agar perusahaan dapat memperhatikan faktor-faktor yang dapat mempengaruhi FERC agar dapat memprediksi laba di masa yang akan datang.</p>

Past performance and earning management: The moderating effect of employee relative earning

Investors are facing doubt on the quality of earning reported. They require some indicators to detect the quality of earning reported. The use of past performance as indicators of current and future earning management is challengeable since there are contradicting results in the sign of the relationship between past performance and earning management. Another variable may moderate their relationship. Therefore, it is the purpose of this study to know if employee’s relative earning is the moderating variable in the relationship between past performance and earning management. One hundred thirty-five companies listed in Indonesia Stock Exchange were selected with the use of stratified random sampling. The data is analyzed using sub-group analysis followed by the Chow F test and the linear regression analysis. Earning management is the dependent variable, whereas past performance is the independent variable, and employee relative earning is the moderating variable. The null hypotheses were rejected. A significant negative association exists between past performance and earning management, while the employee relative earning was found to be the moderating variable. The effect of past performance to earning management increases as employee relative earning getting lower.

INSTITUTIONAL ROLE IN RELATION TO LEGAL POLICY TOWARDS OF CHILDREN’S RIGHTS TO EXCLUSIVE BREASTFEEDING

Breastfeeding is one of the best buys in global health to save lives and improve the health, social, and economic development of individuals and nations. Inadequate breastfeeding impacts a child’s ability to learn, and consequently, their future earning potential. By supporting mothers to practice proper breastfeeding, nearly 50 per cent of under two child deaths caused by diarrhoea and pneumonia could be prevented annually compared to a situation with no breastfeeding. This study aims to understand and analyze the role institutions and legal policy towards the fulfilment of children’s rights to exclusive breastfeeding. This research is normative-empirical legal research. Primary data was obtained through interviews with sources, while secondary data is attained through literature studies on legal material. Data analysis is carried out with a qualitative approach. Results: Institutional is a set of rules of all levels that revolve around a fundamental need in the social life of society. The institutional role is to meet the basic needs of citizens regarding an order, guidelines on how to behave, and as social control. Legal rule the exclusive Nursing program policy is based on the provisions of the Law No. 36 of 2009 with the form of regulation through Government Regulations No. 33 of 2012.

ANALISIS PENGARUH RASIO KEUANGAN TERHADAP PERUBAHAN EARNINGS PADA PERUSAHAAN YANG TERDAFTAR PADA BURSA EFEK INDONESIA (STUDI EMPIRIS PADA 110 PERUSAHAAN PERIODE 2006 – 2009)

This research wants to examine the effects of 5 company’s financial ratio to projected earning change of company. The hypothesis of this research are Current Ratio (CR), Total Asset Turnover (TATO), dan Return On Investment (ROI) have a positive influence to projected earning change of company (Future Earning). While Debt Equity Ratio (DER) and Price Earning Ratio (PER) has a negative influence to projected earning change of company. The technique for examining the hypothesis is multiple regression analysis by using SPSS 12.0 for windows.<br />Key words : Current Ratio, Total Asset Turnover, Return On Investmen,t Debt Equity Ratio, Price Earning Ratio and Future Earning

Peranan Wakaf Produktif Pemuda Muhammadiyah Untuk Kesejahteraan Warga Desa Longkeyang, Bodeh, Pemalang

<p><strong>Abstract</strong></p><p><strong><br /></strong></p><p>One of the forms of worship to draw closer to Allah SWT related to property is donated. <em>waqf istismari</em> also called productive waqf, waqf property that is used for investment purposes, whether in agriculture, industry, trade, and services. This endowment is growing problems in the village Longkeyang, where the youth of Longkeyang attempted endowment for the welfare of citizens. In 2006, approximately 10 people from the youth of the Longkeyang together activists AMM (Angkatan Muda Muhammadiyah) began a new initiative is to create a new institution that was later (in 2010) was named after the <em>Badan Pekerja Pengembangan Ranting Muhammadiyah</em> (BP2RM). (1) The first step movement endowment productive Muhammadiyah Youth in Longkeyang namely (a) the anxiety of citizens and youth of the organization is stagnant and also go hand in hand some scholars who died, so no worries "if shortly Muhammadiyah in Longkeyang will run out" as the scorn of other people. (B) Establish <em>Badan Pekerja Pengembangan Ranting Muhammadiyah</em> (BP2RM) Longkeyang village. (C) Movement Endowments Endowments coins For Productive. The two (2) Management of communal ownership of productive Youth in Longkeyang namely (a) From the collected coins donated land and then bought 1,500 m maximized as initial capital. (B) The existing endowments worked together to reduce the cost of key crops <em>albasia</em> timber, then the cost of treatment using the results of intercropping banana plants. The third (c) In the future, earning endowment will be managed by the sharing system, since from 2006 to 2010 the endowment of productive trees used for the expansion of land. (3) The Role of Waqf Productive Youth Welfare Citizens For The Longkeyang namely (a) The results of this productive endowments, are not significant, but citizens can already feel as waqf land managers and also from the results of the banana crop intercropping. (B) Some of the programs that have resulted from the productive management of waqf endowments suppl shroud support fund for volunteers who want to stay.</p><p>Keywords: <em>Endowments, Awqaf Productive, Youth of Muhammadiyah.</em></p><p><strong><br /></strong></p>

Fiscal Policy and Its Role in Reducing Income Inequality: A CGE Analysis for Pakistan

Income inequality is one of the critical barriers to growth and development in most of the developing countries including Pakistan. Every third man in Pakistan falls below the poverty line1. Moreover, the budget deficit has also been a serious issue throughout the history of Pakistan‟s economy. The persistent budget deficit is the constant source of increasing poverty and deterioration of income distribution. Since deficit is financed by increasing indirect taxes and money supply, it causes the reduction in purchasing power and leads the masses towards poverty [Arif and Farooq (2011)]. Therefore, it is a dire need of the economy to have a good public policy such that it could reduce budget deficit, alleviate poverty and redistribute income. Malik and Saqib (1985) suggest that the resources of the economy can be distributed equally only through appropriate changes in the tax system. Fiscal policy can have a significant influence on removing the gap between haves and havenots both directly and indirectly. It directly affects the disposable income of individuals, whereas affecting their future earning capacities indirectly

Sixth Edition and Illinois

The state of Illinois has undergone major workers’ compensation reform with the passage of House Bill 1698, and from September 1, 2011, one of the factors used to determine a permanent partial disability (PPD) rating is an impairment evaluation according to the AMA Guides to the Evaluation of Permanent Impairment (AMA Guides), Sixth Edition. Previously, the Illinois Workers’ Compensation Commission used a body of case law that set forth general parameters to guide PPD assessment, and the Commission would not allow testimony for any doctor's opinion regarding the percent of disability. Adding the use of the AMA Guides should increase the reliability of these awards. Impairment rating is only one factor that will be considered in determining the level of PPD, and other factors include the injured employee's occupation; age at the time of injury; the employee's future earning capacity; and evidence of disability corroborated by the treating physician's medical records. No single factor should be the sole determinant of disability, and the fact finder must use judgment and must document the rationale for the decision. Basing the impairment rating on the AMA Guides as a starting point should result in both a more valid and more reliable process to determine PPD.

Exploring intellectual capital through social network analysis: a conceptual framework

The purpose of this paper is to develop a framework to assess intellectual capital. Intellectual capital is a key element in an organization’s future earning potential. Theoretical and empirical studies show that it is the unique combination of the different elements of intellectual capital and tangible investments that determines an enterprise´s competitive advantage. Intellectual capital has been defined as the combination of an organization´s human, organizational and relational resources and activities. It includes the knowledge, skills, experience and abilities of the employees, its R&D activities, organizational, routines, procedures, systems, databases and its Intellectual Property Rights, as well as all the resources linked to its external relationships, such as with its customers, suppliers, R&D partners, etc. This paper focuses on the relational capital and attempts to suggest a conceptual framework to assess this part of intellectual capital applying social network analysis approach. The SNA approach allows for mapping and measuring of relationships and flows between, people, groups, organizations, computers, URLs, and other connected information/knowledge entities. The conceptual framework is developed for the assessment of collaborative networks in the Czech higher education sector as the representation of its relational capital. It also builds on the previous work aiming at proposal of methodology guiding efforts to report intellectual capital at the Czech public universities.

The Information Content of Idiosyncratic Volatility

Ang, Hodrick, Xing, and Zhang (2006a) show that stocks with high idiosyncratic return volatility tend to have low future returns. This paper further documents that idiosyncratic volatility is inversely related to future earning shocks, and more importantly, that the return-predictive power of idiosyncratic volatility is induced by its information content about future earnings. We examine various explanations of the triangular relation among idiosyncratic volatility, future earning shocks, and future stock returns. Our results show that the idiosyncratic volatility anomaly is not a simple manifestation of previously documented market anomalies related to excessive extrapolation on firm growth, over-investment tendency, accounting accruals, or investor underreaction to earnings news. On the other hand, there is evidence that the idiosyncratic volatility anomaly is related to corporate selective disclosure, and the anomaly is stronger among stocks with a less sophisticated investor base.