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All Journal Journal of Economics, Business, & Accountancy Ventura Gadjah Mada International Journal of Business Jurnal Akuntansi dan Keuangan Indonesia ABIS: Accounting and Business Information Systems Journal Jurnal Akuntansi dan Governance Andalas Jurnal Ekonomi Syariah Mulawarman (JESM)
Hardo Basuki
Faculty of Economics & Business Universitas Gadjah Mada, Yogyakarta, Indonesia
Economics, Econometrics & Finance Social Sciences Other

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 1 
The Response of Corporate Dividend Policy to The Abolition of Tax Credit in the United Kingdom (U.K.) Basuki, Hardo
Gadjah Mada International Journal of Business Vol 9, No 2 (2007): May - August
Publisher : Master of Management, Faculty of Economics and Business, Universitas Gadjah Mada

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Abstract

By abolishing the tax credit on dividends received by tax-exempt financial institutions in 1997, the effective rate of tax for share-holders such as pension funds increases significantly, and the tax preference for dividends is significantly reduced. The tax-exempt shareholders mainly consist of pension funds and insurance companies with respect to their pension business. This tax-exempt community is the most influential shareholders in many U.K. companies, and their tax preference for dividends may have an important impact on corporate dividend policy.The objective of this study is to examine whether the aggregate dividend payment changes following the 1997 abolition of the tax credit. Using aggregate data in time series from 1974 to 1999, this study finds that the percentage of forecast error in Lintner’s model does not change significantly between the pre- and post-abolition periods. Hence, there is no evidence that aggregate dividend payment decreases following the abolition of tax credit. This could be interpreted that the aggregate sample of U.K. firms indicates a little intention of changing their dividend policies in response to the abolition of tax credit.This study also investigates whether individual U.K. companies respond to the 1997 abolition of tax-credit. The test results show that the majority of companies in the sample do not change their dividend policies after the abolition of tax credit. It is possible that companies are reluctant to cut their dividend payment since the existing dividend payout could be sustained in the long-run. They also avoid sending negative signals to the market. Thus, companies typically chose to keep a dividend level relatively stable following the tax change in 1997. Only the minority of the U.K. companies experience a decline in their dividend payment. This evidence supports the hypothesis that the abolition of tax credit on dividends results in a decrease in aggregate dividend payment in order to satisfy a tax clientele.
The Impact of the Abolition of tax credit on ex-dividend day abnormal returns in the united kingdom (uk) market Basuki, Hardo
Gadjah Mada International Journal of Business Vol 8, No 2 (2006): May - August
Publisher : Master of Management, Faculty of Economics and Business, Universitas Gadjah Mada

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Abstract

The ex-dividend day returns are composed of the capital gains component and the dividends component. This study mainly examines the relationship between the 1997 abolition of the tax-credit and the ex-dividend day abnormal stock returns in the UK market (London Stock Exchange). The 1997 abolition of the tax credit on dividend effectively reduced the income of pension funds and other tax-exempt shareholders who had a strong preference for dividends. This study finds that the ex-day abnormal returns (AR) declined from +0.0580 percent during the pre-abolition periods to -0.1459 percent during the post-abolition periods. This decline is statistically significant with a t-value of 2.0431. From these results it would appear that the ex-dividend day AR changed following the 1997 abolition of tax credits on dividends. Moreover the comparison tests of ex-day drop-off ratios between pre-and post-abolition periods show that drop-off ratios for all dividend yield groups increased significantly from 0.519 in the pre-abolition periods to 0.574 over the post-abolition periods with a t-value of 2.183. Thus, the decrease on ex-day AR was further supported by a significant increase in the average price-drop to dividend ratios.The decline in the ex-day AR for the post-abolition periods seems to be driven primarily by quintile 5 (the highest dividend yield quintile). Quintile 5 exhibits strong dividend preference and this preference is likely caused  by the  imputation system that provides a tax advantage to the tax exempt shareholders. This finding appears to suggest that the highest dividend yield securities are likely to be held by tax-exempt investors such as pension funds that were affected by the abolition of the tax credits on dividend.
An Analytical Assessment of Assurance Practices in Social Environmental and Sustainable Reporting in the United Kingdom and North America Manurung, Annisa Melissa; Basuki, Hardo
Gadjah Mada International Journal of Business Vol 12, No 1 (2010): January - April
Publisher : Master of Management, Faculty of Economics and Business, Universitas Gadjah Mada

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Abstract

The objective of this study is to continue and extend previous studies in evaluating the extent to which current assurance practices promote transparency and accountability to stakeholders. This is carried out by conducting an empirical analysis of the content of assurance statements accompanying a sample of non-financial reports short-listed for the Association of Chartered Certified Accountants (ACCA) U.K. Sustainability Reporting Award and the CERES-ACCA Sustainability Reporting Award from 2006 to 2008. The findings of this study show that several new trends in social, environmental and sustainability assurance can be observed. Firstly, accountants tend to limit their intended readership to management only and state a disclaimer for other potential readers. This diminishes the transparency and stakeholder accountability of the reporting. Secondly, there is even stronger evidence that management has the control over the scope of the assurance engagement and over what information gets publicly disclosed. The evidence is shown in the fact that in many assurance statements prepared by accountants, only selected parts of the reports are being assured, with no indication that it is not management who selects these parts. Finally, the recent practices of assurance engagements represented by the sample in this study have not improved the transparency and stakeholder accountability of social, environmental and sustainable reporting. Similar to the two previous studies, we assert that a generally accepted standard is needed to promote assurance statements that add meaningful values to the reliability of social, environmental and sustainability reporting.
HUBUNGAN ASPEK POWER, PENERAPAN SISTEM PENGENDALIAN ADMINISTRATIF, AKUNTABILITAS, DAN EFISIENSI PROGRAM JAMINAN KESEHATAN Prayudi, Made Aristia; Basuki, Hardo
Jurnal Akuntansi dan Keuangan Indonesia Vol. 11, No. 1
Publisher : UI Scholars Hub

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Abstract

This study aims to investigate the effect of various aspects of power on administrative control system implementation, i.e. the Standard Operating Procedure (SOP) of a local health insurance program, as well as on its organizational consequences in the form of accountability and efficiency. The sequential explanatory strategy of mixed methods research is then used. Data from 86 physicians of 7 local public hospitals in Bali Province collected through survey using self-report questionnaires at quantitative stage and the transcript of an interview process conducted on qualitative stage was analyzed using Partial Least Square (PLS) and descriptive statistical technique, respectively. The results show that external pressure in the form of legal requirements significantly influences this type of administrative control system implementation. Moreover, the implementation of administrative control system is also shown to have a positive impact on accountability, while accountability itself displays full mediating effect on the positive relationship between the implementation of administrative control systems and efficiency.
Pengaruh Penganggaran Partisipatif dan Komitmen Tujuan Anggaran terhadap Kinerja Manajerial pada Pemerintah Desa Yogyakarta Yusuf, Abdurrahman Maulana; Pageno, Arie Mahardika; Wulandari, Futri Ayu; Basuki, Hardo
Jurnal Ekonomi Syariah Mulawarman (JESM) Vol. 3 No. 3 (2024): Jurnal Ekonomi Syariah Mulawarman
Publisher : Fakultas Ekonomi dan Bisnis Universitas Mulawarman

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30872/jesm.v3i3.2819

Abstract

Penelitian ini fokus pada pengujian penganggaran partisipatif dan komitmen tujuan anggaran terhadap kinerja manajerial pada instansi pemerintah desa melalui pendekatan empiris. Populasi penelitian terfokus pada pemerintah desa di Daerah Istimewa Yogyakarta, dengan menggunakan data primer yang dikumpulkan melalui kuesioner dan dianalisis menggunakan metode analisis jalur Pada penelitian ini terdapat yakni sampel dikumpulkan sebanyak 164 kuesioner dari para aparatur desa yang telah dikembalikan, lalu penelitian ini diolah menggunakan metode analisis dengan teknik pendekatan partial least squares. Variabel independen yang digunakan yakni penganggaran partisipatif dan komitmen tujuan anggaran. Sedangkan kinerja manajerial sebagai variabel dependen. Hasil penelitian menunjukkan bukti empiris bahwa penganggaran partisipatif dan komitmen terhadap tujuan anggaran memiliki pengaruh yang signifikan terhadap kinerja manajerial, khususnya dalam konteks pemerintahan desa.
Analisis Profitabilitas Pelanggan Menggunakan Activity-Based Costing dalam Meningkatkan Manajemen Hubungan Pelanggan (Studi Kasus pada SP Aluminium Yogyakarta) Sudaryati, Sudaryati; Basuki, Hardo
ABIS: Accounting and Business Information Systems Journal Vol 13, No 2 (2025): May
Publisher : Master in Accounting Program

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22146/abis.v13i2.107297

Abstract

Persaingan bisnis yang semakin ketat menuntut perusahaan untuk memahami profitabilitas pelanggan guna merumuskan strategi yang lebih efektif. Penelitian ini bertujuan menganalisis profitabilitas pelanggan, khususnya pada segmen pelanggan distributor, dengan menggunakan pendekatan berbasis Activity-Based Costing (ABC) di SP Aluminium Yogyakarta, sebuah perusahaan manufaktur produk peralatan rumah tangga berbahan dasar aluminium. Penggunaan metode tradisional dalam alokasi biaya sering menyebabkan ketidaktepatan dalam penilaian profitabilitas pelanggan, mengarah pada overcosting dan undercosting yang merugikan perusahaan. Melalui penerapan ABC, penelitian ini menemukan bahwa pelanggan dengan volume pembelian tinggi tidak selalu memberikan kontribusi positif terhadap profitabilitas perusahaan, terutama ketika biaya layanan yang diberikan lebih besar dari kontribusi pendapatan mereka. Hasil penelitian menunjukkan bahwa metode tradisional menyebabkan overcosting pada pelanggan besar dan undercosting pada pelanggan menengah serta kecil. Sebaliknya, metode ABC mengungkapkan profitabilitas pelanggan besar sebesar Rp5.917.990.235, yang sebelumnya terlihat negatif dengan metode tradisional. Hal ini disebabkan oleh alokasi biaya tidak langsung yang tidak proporsional dalam metode tradisional, yang menyebabkan pelanggan besar tampak merugi, sementara pelanggan menengah dan kecil terlihat lebih menguntungkan dari kenyataan. Di sisi lain, penerapan ABC membantu perusahaan untuk mengalokasikan biaya secara lebih akurat, memberikan gambaran yang lebih jelas tentang kontribusi setiap pelanggan terhadap profitabilitas perusahaan. Temuan ini berimplikasi pada desain kebijakan diskon yang lebih efisien, evaluasi segmen pelanggan berdasarkan profitabilitas, dan optimalisasi strategi Customer Relationship Management (CRM) untuk meningkatkan loyalitas pelanggan yang memberikan nilai jangka panjang. Meskipun demikian, implementasi ABC dihadapkan pada tantangan seperti keterbatasan pemahaman karyawan, sistem akuntansi yang sederhana, dan resistensi terhadap perubahan. Secara keseluruhan, penelitian ini menyarankan bahwa penerapan ABC dapat meningkatkan akurasi alokasi biaya dan membantu perusahaan dalam mengelola hubungan pelanggan yang lebih strategis dan menguntungkan.
THE INFLUENCE OF SUPPORT AND INFORMATION SYSTEM TOWARD THE USE OF WORK INFORMATION IN BUDGETING WITH DEVELOPMENT FACTOR AS INTERVENING VARIABLE Diptyana, Pepie; Basuki, Hardo
Journal of Economics, Business, and Accountancy Ventura Vol. 13 No. 1 (2010): April 2010
Publisher : Universitas Hayam Wuruk Perbanas

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14414/jebav.v13i1.419

Abstract

This research is dealt with political factors using internal and external organization supports as proxy. Besides that, it also uses information system as variables that influence work performance measurement development as well as the utilization of performance information in budgeting. This research attempts to test and confirm whether such factors are consistently influential toward work performance measurement development and utilization of performance information in budgeting as conducted by the previous studies. It uses random sampling system,consisting of 316 executives with the echelon ranks of 2, 3, and 4 at the regional government offices, Jogjakarta, Indonesia. This research reveals that political factor influence utilization of performance information in budgeting, both directly and indirectly through performance measurement development. In addition, information system capability, incapabilityof explaining and assessing performance metrics (as technical factors) do not influence either directly or indirectly both work performance measurement development and utilization of performance information in budgeting. Yet, another technical factor, which is technical knowledge, has significant influence toward work performance measurement development in budgeting. These findings imply that the change into performance measurement-based budgeting is influenced by the regional government’s internal and external support, external participations such as society for escorting the regional government officials in facing the budgeting system change.
THE EFFECT OF COUNTRIES’S CULTURE IN FAMILY FIRMS’ EARNINGS QUALITY: AN EXAMINATION ALIGNMENT VERSUS ENTRENCHMENT APPROACH IN AGENCY THEORY Basuki, Hardo; Nurim, Yavida; Anggraini, Francisca Reni Retno
Jurnal Akuntansi dan Governance Andalas Vol. 1 No. 1 (2015): JURNAL AKUNTANSI DAN GOVERNANCE ANDALAS
Publisher : Unand Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.25077/jaga.v1i1.6

Abstract

The studies of the family firms’ earnings quality have not yet concluded about individual or family as majority owner in firm has positive or negative influence over the earnings quality. We conjecture that the prior researches use the different approaches: such as alignment versus entrenchment, to explain agency conflict between majority and minority shareholders. Prior researches have proved that culture has relation with accounting practice in a country. We argue that culture also stimulates the individual or family’s behaviour in that firm to choose the alignment or entrenchment behaviour. This study examines the accruals (discretionary accruals, discretionary current accruals, and discretionary long-term accruals) level, as the proxy of earnings quality, of the family firms in four culture dimensions which established by Hofstede’s (1997). This study uses three groups of shareholders in family firms as samples (the one largest, the two largest, and the three largest shareholders) from 48 countries around the world. Based on ANOVA, this study proved that the difference of culture level has the different earnings quality. The result also reveals that there are different accruals pattern in different culture, such as power distance and individualism (collectivism) have linear pattern, but femininity (masculinity) and uncertainty avoidance have non-linear pattern. The linear accruals pattern implies that large (small) power distance or individualism (collectivism) culture has low (high) earnings quality or high (low) earnings quality, respectively. However, for the non linear accruals pattern of femininity (masculinity) or uncertainty avoidance culture implies that the evidence do not conform the prior research that masculinity has positive correlation with corruption level in societies or strong uncertainty avoidance concerns to more precise law.
Co-Authors Abdurrahman Maulana Yusuf Anggraini, Reni Retno Huda Shalahudin Darusman Made Aristia Prayudi Nurim, Yavida Pageno, Arie Mahardika Pepie Diptyana Sudaryati Sudaryati Wulandari, Futri Ayu