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All Journal Jurnal Widya Manajemen & Akuntansi Gadjah Mada International Journal of Business JAM : Jurnal Aplikasi Manajemen Journal of Indonesian Economy and Business INDONESIAN JOURNAL OF PHARMACY Majalah Farmaseutik Indonesian Treasury Review: Jurnal Perbendaharaan, Keuangan Negara dan Kebijakan Publik Jurnal Bisnis dan Akuntansi Global Financial Accounting Journal The Indonesian Journal of Accounting Research Indonesian Capital Market Review ABIS: Accounting and Business Information Systems Journal

Jogiyanto Hartono

Faculty Economics And Business, Universitas Gadjah Mada, Indonesia

Author-ID : 2386568

Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Medicine & Pharmacology

Published : 64 Documents Claim Missing Document

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Articles

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CONFLICT OF INTEREST PROBLEM IN THE MANAGEMENT-CONTROLLED FIRMS Dewi Ratnaningsih; Jogiyanto Hartono
Journal of Indonesian Economy and Business (JIEB) Vol 16, No 1 (2001): January
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

This study hypothesizes that the conflict of interest problem exists in themanagement-controlled firms. The problem does not exist in the owner-controlled firms.This study supports these hypotheses.The conflict of interest problem occurs in the management-controlled firmsbecause managers tend to emphasize their wealth by increasing sales or profit but stockreturns at the expense of shareholders’ wealth. Shareholders are more concerned withthe increase of stock returns, which is related directly to their wealth. On the otherhand, in the owner-controlled firms, since the managers are also the owners of thefirms, the conflict of interest problem does not exist.The conflict of interest problem still persists even though CEOs have beencompensated well. The problem cannot be solved by how much CEOs are paid, but byhow they are paid. The problem can be reduced by designing compensation scheme thatincreases the ownership of the CEOs. This situation had already been recognized by theU.S. firms, that of the 374 firms in the sample, 80% or 300 firms are the ownercontrolledfirms.Keywords: Compensation, conflict of interest, agency relationship.

BIAS DARI PENGGUNAAN MODEL DI MBAR Jogiyanto Hartono
Journal of Indonesian Economy and Business (JIEB) Vol 14, No 1 (1999): January
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

This paper discusses biases that occurred on level, return and event studymodels. In a prices lead earnings condition, the coefficient in the level model isunbiased, while that in the return model is biased. In a prices do not lead earningscondition, both level and earnings models yield unbiased coefficients economically.In general, the level model suffers more serious bias econometrically than does thereturn model. In an event study, daily returns with equally-weighted index are able to detectabnormal returns better than are monthly returns with value-weighted index. Whenannouncements are clustered in calender events, the market model or the marketadjustementmodel is less biased than the mean-adjusted model. But, when eventdates are not clustered, a simple model such as the mean-adjusted model is not worsethan other models.

THE EFFECTS OF A LEGAL PROCESS ON MANAGEMENT OF ACCRUALS: FURTHER EVIDENCES ON MANAGEMENT OF EARNINGS Jogiyanto Hartono; Ainun Na'im
Journal of Indonesian Economy and Business (JIEB) Vol 13, No 2 (1998): April
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Studi ini meneliti tentang manajemen earnings perusahaan yang memasukkan tuntutan atas kerugian karena pelanggaran undang-undang anti-monopoli dan antitrust oleh perusahaan lain. Earnings merupakan informasi yang penting dan menjadi salah satu pertimbangan dalam keputusan pengadilan (atau di luar pengadilan) mengenai jumlah ganti rugi yang harus diterima oleh perusahaan penuntut dan denda yang harus dibayar oleh perusaan yang dituntut (yang dituduh melanggar undang-undang anti-monopoli). Perusahaan melakukan manajemen earnings melalui pemilihan metode akrual dalam proses penentuan earnings. Kami memprediksi bahwa perusahaan penuntut akan menggunakan akrual untuk menurunkan earnings selama periode tuntutan. Hipotesis kami uji dengan membandingkan tingkav akrual perusahaan penuntut selama periode proses pengadilan dibanding dengan tingkat akrual selama periode di luar prosespengadilan.Informasi earnings dan keuangan 118 perusahaan tahun, terdiri dari 13 perusahaan selama tahun 1984 - 1992 yang digali dari harian Wall Street Journal digunakan sebagai sampel. Data finansial perusahaan sampel kami ambil dari COMPUSTAT industrial atau Research Tapes. Model akrual Jones (1991) digunakan untuk menghitung tingkat discretionary accruals. Penelitian ini menunjukkan tidak menunjukkan bukti bahwa perusahaan penuntut memanipulasi akrual untuk menurunkan laba pada saat investigasi dan proses pengadilan. Beberapa penjelasan yang mungkin dapat kami berikan adalah udanya informasi lain yang lebih bermanfaat bagi penuntut dalam memenangkan tuntutan, misalnya mengenai penentuan harga, strategi pengembangan produk dan diversiftkasi usaha. Faktor hasil proses pengadilan mungkin juga merupakan variabel penting yang perlu dilihat dalam penelitian seperti ini.

BIAS DARI PENGGUNAAN DATA DI MBAR Jogiyanto Hartono
Journal of Indonesian Economy and Business (JIEB) Vol 13, No 4 (1998): October
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (94.576 KB)

This paper discusses several biases due to the use of data in MBAR (Market Based Accounting Research). They are biases because of non-normality of the data, cross-dependency of the data and non-synchronous trading. This paper identifies conditions of the biases and also provides solutions to overcome the biases.

THE EFFECT OF ASYMMETRICAL INFORMATION AND RISK ATTITUDE ON INCENTIVE SCHEMES: A CONTINGENCY APPROAC JOGIYANTO HARTONO; BAMBANG RIYANTO LS
Journal of Indonesian Economy and Business (JIEB) Vol 12, No 1 (1997): January
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (905.355 KB)

This paper discusses several incentive models. Some models are only appropriate for risk neutral agents, but not for risk averse agents. For certain circumstances, a quadratic model is needed to replace a linear model The choice of which model is the appropriate one is the question addressed by this paper. Risk attitude and several aspects of asymmetric information will be discussed.

EVALUASI KINERJA INSTALASI FARMASI RSUD KOTA YOGYAKARTA DENGAN PENDEKATAN BALANCED SCORECARD Satibi Satibi; Achmad Fudholi; Hari Kusnanto; Jogiyanto Jogiyanto
Majalah Farmaseutik Vol 7, No 3 (2011)
Publisher : Faculty of Pharmacy, Universitas Gadjah Mada

Pengukuran kinerja dapat dilakukan dengan pendekatan Balanced Scorecard (BSC). Penelitian ini dilakukan untuk mengetahui kinerja Farmasi Rumah Sakit Umum Daerah Kota Yogyakarta ditinjau melalui empat perspektif yaitu learning and growth, proses bisnis internal, customer dan keuangan Pada penelitian ini dirancang dengan studi kasus yang bersifat deskriptif evaluatif data yang dikumpulkan berupa data kuantitatif dan kualitatif. Data kualitatif berupa hasil wawancara mendalam dengan Kepala Instalasi Farmasi sedangkan data kuantitatif diperoleh melalui observasi, kuesioner, laporan administrasi, laporan keuangan RSUD Kota Yogyakarta dan laporan keuangan Instalasi Farmasi. Data dianalisis secara diskriptif yang dibandingkan dengan standar dari masing-masing indikator yang ada. Dari hasil penelitian menunjukkan kinerja pada perspektif keuangan 3 tahun terakhir rata-rata kontribusi IFRS ke RS 42,67% dan ITOR 7,4 kali. Dari perspektif konsumen, kepuasan konsumen 3,13 (puas), dan keterjaringan pasien 89,42%. Dari proses bisnis internal: ketersediaan obat 95,42%, pelayanan informasi obat masih belum memenuhi standar Kepmenkes no. 1197/menkes/SK/2004, dispensing time untuk racikan 31,55 menit dan non racikan 11,34 menit. Dari perspektif pembelajaran dan pertumbuhan: semangat kerja tinggi dan produktifitas sangat tinggi. Dari hasil penelitian ini menunjukan bahwa kinerja IFRSUD Kota Yogyakarta dengan pendekatan BSC menunjukkan kinerja yang sudah baik, walaupun masih perlu upaya perbaikan khususnya dalam dispensing time, pengendalian persediaan obat dan pelayanan informasi obat.

Pengujian Faktor-Faktor yang Memengaruhi Penggunaan Web Intranet Perbendaharaan Berdasarkan Ekspektasi Pengguna dan Kualitas Teknologi Khiyarunnas Khiyarunnas; Jogiyanto H M
Indonesian Treasury Review: Jurnal Perbendaharaan, Keuangan Negara dan Kebijakan Publik Vol 2 No 2 (2017): Indonesian Treasury Review: Jurnal Perbendaharaan, Keuangan Negara, dan Kebijakan
Publisher : Direktorat Jenderal Perbendaharaan, Kementerian Keuangan

This research is aims at examining the factors that affect users in using the Web Intranet Perbendaharaan at The Directorate General of Treasury, The Ministry of Finance based on user’s expectancy and the quality of technology. This research uses a model which consists of multiple variables contained in DeLone & Mclean Success Model of Information Systems 2003 and UTAUT theory proposed by Venkatesh (2003). This research used purposive sampling method and questionnaire method by directly distributing the questionnaire to Web Intranet Perbendaharaan’s user throughout Indonesia and also used Partial Least Square (PLS) analysis techniques. The independent variables used in this research was the system quality, information quality, service quality, performance expectancy, and effort expectancy. Based on the result of 179 questionnaires which were received, it shows that the intention in using Web Intranet Perbendaharaan positively and significantly was influenced by the quality of information and performance expectancy. Abstrak Penelitian ini bertujuan untuk menguji faktor-faktor yang memengaruhi pengguna dalam menggunakan Web Intranet Perbendaharaan pada Direktorat Jenderal Perbendaharaan Kementerian Keuangan berdasarkan ekspektasi pengguna dan kualitas teknologi. Penelitian ini menggunakan model yang terdiri dari beberapa variabel yang terdapat pada Model Kesuksesan Sistem Informasi Delone dan Mclean 2003 dan Teori UTAUT yang diajukan oleh Venkatesh (2003). Penelitian ini menggunakan metode purposive sampling dan penyebaran kuesioner pada pengguna Web Intranet Perbendaharaan di seluruh Indonesia serta menggunakan teknik analisis Partial Least Square (PLS). Variabel independen yang digunakan dalam penelitian ini ialah kualitas sistem, kualitas informasi, kualitas pelayanan, ekspektasi kinerja, dan ekspektasi usaha. Berdasarkan hasil analisis terhadap 179 kuesioner yang diterima, menunjukkan bahwa niat memakai Web Intranet Perbendaharaan secara positif dan signifikan dipengaruhi oleh kualitas informasi dan ekspektasi kinerja.

Kualitas Akrual Dan Manajemen Aktivitas Riil Seasoned Equity Offering Perusahaan High Technology Di Asia Pasifik Sumiyati Sumiyati; Jogiyanto Hartono
Global Financial Accounting Journal Vol 1 No 1 (2017)
Publisher : Faculty of Economics, Universitas Internasional Batam

Show Abstract | Download Original | Original Source | Check in Google Scholar

Seasoned Equity Offering is a public stock offering after the Initial Public Offering. This study aims to determine the effect of accrual quality and management of real activity toward market reaction and performance of companies employed Seasoned Equity Offering (SEO) in high-technology companies in Asia Pacific. Sample of this research is employed by using purposive sampling with this following criteria; high technology companies in Asia Pacific that offering SEO in 2001-2015 and sample data of company should be available on OSIRIS database. In ultimate, the total final sample is obtained from 40 companies spread in Australia, China, Indonesia, India, South Korea, Malaysia, New Zealand, Singapore and Taiwan. This research is a study of events (event study) using 5-year-window that is two years before SEO, current year of SEO and two years after SEO. The hypothesis is analyzed using Ordinary Least Square (OLS) for each events t-2, t-1, t0, t+1 dan t+2. The test results showed evidence that accrual quality had positive effects on performance of companies employed SEO. Yet, the results of second hypothesis testing, accrual quality measured by deviation standard, do not influence market reaction. This study can also prove management of real activity measured by abnormal cash flow. Abnormal can degrade the performance of SEO companies after the event, while the abnormal of cost discretioner does not influence performance. The fourth hypothesis testing results showed evidence that negative effect of SEO market reaction is definitely caused by pessimistic reaction of investor toward the performance of company employed SEO.

Strategic Disclosure of Multiple Benchmarks in Earnings Announcements: An Examination of Investor Behavior Based on Internal and External Factors in the Performance Evaluation Sri WAHYUNI; Jogiyanto Hartono
The Indonesian Journal of Accounting Research Vol 13, No 2 (2010): IJAR May 2010
Publisher : The Indonesian Journal of Accounting Research

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33312/ijar.223

The objective of this study is twofold: (1) to provide empirical support regarding the effectiveness of strategic disclosure of multiple benchmarks in earnings announcements and (2) to explain the cognitive mechanism in processing the information with consequences that can affect the judgments of investors in evaluating company's performance. Prior research have described strategic disclosure of prior-period benchmark in earnings announcement that focus on the transitory gain or loss, which, in turn, influences investor's judgments (Schrand and Walther, 2000; Krische 2005). Using multiple reference-point theory from psychology, this study extendsprior research by investigating how investors behave differently to remainder effect and sufficient information available on external factors in earnings announcement. In addition, this study also investigates whether investors revise their evaluation when they are allowed to re-examine prior-period announcement. The experiment's results suggest that strategic disclosure of multiple benchmarks influences investor's judgments in evaluating company performance.

Studi terhadap Pengukuran Kinerja Akuntansi Perusahaan Prospektor dan Defender, dan Hubungannya dengan Harga Saham : Analisis dengan Pendekatan Life Cycle Theory Abd Hamid Habbe; Jogiyanto Hartono
The Indonesian Journal of Accounting Research Vol 4, No 1 (2001): JRAI January 2001
Publisher : The Indonesian Journal of Accounting Research

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33312/ijar.54

The objective of the study is to empirically examine the difference from accounting performance measures that implicated by prospector and defender strategies, and to examine the differences between market reactions to both organizational strategies. Variables that implicated by organizational strategy are income growth, sales growth, and dividend pay out. Life cycle theory is used to analyze the difference from accounting performance measures.Four variables are used to determine prospector and defender firms: the price-to- book value ratio, the ratio of employees to sales, the ratio of capital expenditure to market value of equity, and the ratio of capital expenditure to total asset. These variables are analyzed by common factor analysis. Based on the common factor analysis, 25 prospector and 25 defender firms are derived from 74 manufacturing public firms at Jakarta Stock Exchange.The empirical results show that income and sales growth of prospector firms are greater than that of defender firms (significant at 0.01 level). Dividend pay out and market reaction, however, are not significantly difference between prospector and defender firms. Multivariate test was employed to understand more the differences between prospector and defender firms in relation to the stock prices. The results show that the magnitude of income and sales growth of prospector firms significantly affects the magnitude of abnormal return (significant at 0.05 and 0.10 level, respectively). While, at defender firms, only the magnitude of income growth significantly affects the magnitude of abnormal return. Dividend pay out does not affect the magnitude of abnormal return for both prospector and defender firms. However, the effects of the magnitude income and sales growth to the magnitude of abnormal return between prospector and defender firms are not significantly difference.

Co-Authors . Sujoko ., Satibi Abd Hamid Habbe Achmad Djunaedi Achmad Djunaedi Achmad Fudholi Ainun Na′im Ainun Na’im Almilia, Luciana Spica Almilia Anak Agung Gede Sugianthara Annisya Fitri Arsita Leni Sefindri Bambang Hartadi Bambang Riyanto BAMBANG RIYANTO LS Bandi Bandi Dedhy Sulistiawan Dedhy Sulistiawan Dewi Ratnaningsih Dewi Ratnaningsih Dewi Ratnaningsih Dewi Ratnaningsih Doddy Setiawan Eduardus Tandelilin Eko Suwardi Ertambang Naharto Ertambang Nahartyo FIRMAN PRIBADI fitrijanti, TetTet Fudholi, Achmad Hani Handoko Hani Handoko Hargo Utomo Hari Kusnanto Heni Pujiastuti JONI JONI Junaidi Junaidi _ Khiyarunnas Khiyarunnas Kusnanto, Hari Lindrianasari Luciana Spica Almilia Mamduh M. Hanafi Mamduh M. Hanafi Marwan Asri Nofie Iman Novi Indriana Soepratikno Satibi Satibi Setiyono Miharjo SETIYONO MIHARJO Setiyono Miharjo Setiyono Setiyono Setiyono Setiyono Slamet Sugiri Sri WAHYUNI Sri Wahyuni Sri Wahyuni Sumiyana Sumiyana SUMIYATI SUMIYATI Sumiyati Sumiyati Supriyadi . Supriyadi Supriyadi Syaiful Ali Triyono Triyono Wahyu Anggraini Wahyuni Reksoatmodjo Wahyuni Reksoatmodjo Wendy Willy Abdillah Willy Abdillah Wuryan Andayani Zainuddin Zainuddin Zaki Baridwan Zaki Baridwan

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