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All Journal Jurnal Keuangan dan Perbankan Journal of Economics, Business, & Accountancy Ventura Gadjah Mada International Journal of Business Journal of Indonesian Economy and Business AKRUAL: Jurnal Akuntansi International Research Journal of Business Studies (E-Journal) Jurnal Organisasi Dan Manajemen Jurnal Akuntansi dan Bisnis The Indonesian Journal of Accounting Research AJAR (Asian Journal of Accounting Research) (e-Journal) International Research Journal of Business Studies

Sidharta Utama

Faculty Of Economics And Business, Universitas Indonesia, Indonesia

Author-ID : 2889348

Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Social Sciences

Published : 24 Documents Claim Missing Document

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Articles

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The Combined Effects of Financial Derivatives and Discretionary Accruals on the Value Relevance of Earnings and the Book Value of Equity Etty Murwaningsari; Sidharta Utama; Hilda Rossieta
Gadjah Mada International Journal of Business Vol 17, No 2 (2015): May-August
Publisher : Master in Management, Faculty of Economics and Business, Universitas Gadjah Mada

This study aimed to understand (1) the association between the use of discretionary accruals and financial derivatives, taking into consideration the implementation of revised PSAK 55 (1999), which was adopted from SFAS 133; (2) the combined effects of derivatives and discretionary accruals on the value relevance of earnings and equity. The analysis used panel data regressions and the Wald test over the period from 2001-2008. The results showed a positive or complementary association between derivatives and discretionary accruals. The positive association implied that managers tended to intensify the use of discretionary accruals to offset a higher use of derivatives. Price and return models demonstrated negative significant effects of derivatives on the value relevance of earnings. The return model showed negative significant effects of discretionary accruals on the value relevance of earnings but negative effects on the value relevance of equity with the price model.

Persistensi Laba Antar Level Kompetisi Industri: Studi Empiris pada Perusahaan Amerika Serikat Nurul Aisyah Rachmawati; Sidharta Utama; Sylvia Veronica Nalurita Purnama Siregar
Jurnal Akuntansi dan Bisnis Vol 20, No 1 (2020)
Publisher : Accounting Study Program, Faculty Economics and Business, Universitas Sebelas Maret

The purpose of this study is to analyze the effect of industry competition level on earnings persistence components. This study used panel data of listed companies that have common shares listed on one of the three major US stock exchanges (NYSE, AMEX, or NASDAQ) and a GICS code during the period 2012-2014. This study hypothesized that industry-wide earnings in the low-competition industries are more persistent than industry-wide earnings in the high-competition industries. The results provide evidence which is consistent with the hypothesis. Finally, I hypothesized and found that industry-wide cashflows in the low-competition industries are the most persistent component of earnings, while firm-specific accruals in the high-competition industries is the least persistent.Penelitian ini bertujuan untuk menganalisis pengaruh level kompetisi industri terhadap komponen persistensi laba. Penelitian ini menggunakan data panel perusahaan yang terdaftar di salah satu dari tiga bursa efek Amerika serikat yang utama (NYSE, AMEX, atau NASDAQ) selama periode 2012-2014. Klasifikasi industri didasarkan pada GICS code. Penelitian ini mengembangkan hipotesis bahwa komponen industrywide atas laba pada low-competition industries lebih persisten dibandingkan komponen industry-wide atas laba pada high-competition industries. Studi ini menunjukkan hasil yang konsisten dengan hipotesis. Terakhir, penelitian ini mengembangkan hipotesis dan menemukan bahwa komponen industry-wide atas arus kas pada low-competition industries paling persisten dibandingkan dengan komponen yang lainnya.

Ownership concentration and bank risk (A study on banking sectors in Indonesia) Etikah Karyani; Sidharta Utama
Journal of Economics, Business, & Accountancy Ventura Vol 18, No 2 (2015): August - November 2015
Publisher : STIE Perbanas Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14414/jebav.v18i2.447

The purpose of this study is to test empirically the relationship between ownership concentration and risk taking by banks which are proxied by the CAR and LDR (li-quidity ratio). The study was motivated by the limited previous studies that analyze the structure of ownership in financial institutions and the weaknesses in sampling. Our analysis focused on Indonesia because this country has implemented the Basel Accord II standards successfully. This regulatory compliance is expected can control banking risk. Using data from 2009 until 2013 and panel data. We found that the ownership concentration become important determinants of bank liquidity. These findings are expected to provide policy guidance for regulators, especially relating to the ownership structure of the bank. However, the ownership concentration proved to be involved in the management decision to risk taking in banks.

TAX AVOIDANCE, RELATED PARTY TRANSACTIONS, CORPORATE GOVERNANCE AND THE CORPORATE CASH DIVIDEND POLICY Dewi Kartika Sari; Sidharta Utama; Hilda Rossieta
Journal of Indonesian Economy and Business (JIEB) Vol 32, No 3 (2017): September
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

This study aims to investigate the relationship between tax avoidance, related party transactions and the corporate dividend policy. Furthermore, this study will also investigate the moderating effects of the implementation of Corporate Governance (CG) on the relationship between tax avoidance, Related Party Transactions (RPT) and corporate dividend policies. Our sample covers companies listed on the Indonesian Stock Exchange during 2011-2014. The results provide moderate support for the proposed hypotheses. First, the greater tax avoidance that a company makes will increase the size of the firm's RPT. Second, the higher that the company's RPT is, this will lower the company's cash dividend payout rate. Third, the greater the tax avoidance is, the lower the company's cash dividend payout rate will be, which is done through a related party transaction.Fourth, the impact of the implementation of strong CG will weaken the positive relationship between corporate tax avoidance and the company’s RPT size, strengthen the negative relationship between the RPT’s size and the cash dividend payout policy of the firm, and strengthen the negative relationship between the company’s tax avoidance and the company's cash dividend payout policy which is mediated by the company’s RPT. This study makes three contributions. First, this study shows an indirect relationship between tax avoidance and cash dividend payments, mediated by RPT. Second, this study tries to examine the effect of CG’s moderation on the relationship between tax avoidance and RPT, as well as the effect of CG’s moderation on the relationship between tax avoidance and cash dividend payments, mediated by RPT. Third, this study developed RPT measurements by looking at the RPT’s components more specifically (looking at components of transactions outside of the main business of the company - the "others" component).

Do Financial Reporting Quality and Corporate Governance Have Simultaneous Effect? Evidence from Indonesian Manufacturing Companies Dianwicaksih Arieftiara; Sidharta Utama
AKRUAL: JURNAL AKUNTANSI Vol 9 No 2: AKRUAL: Jurnal Akuntansi (April 2018)
Publisher : Jurusan Akuntansi Fakultas Ekonomi Universitas Negeri Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26740/jaj.v9n2.p168-185

Financial reporting reflects transparency of the firm and if it could not explain the changes in shareholders value in a timely manner; shareholders need additional monitoring mechanism. This study aims to investigate the effect of financial statements quality on corporate governance mechanism and to examine the simultaneous effect between both. This study uses earnings timelines as a proxy of financial reportings quality; proportion of independent board and board size as proxies of corporate governance mechanism. Using Two Stage Linear Regression (TSLS) and samples consist of manufacturing companies listed on Indonesian Stock Exchange (IDX) in 2015, this study finds that earnings timelines have significant influence on board size; earnings timelines and proportion of independent board have the simultaneous effect; however, it fails to document the simultaneous effect of earnings timelines and ownership concentration. This study is the first that investigates the simultaneous effects of financial reporting quality and corporate governance.

Board Characteristics and Firm Performance: Evidence from Indonesia Athalia Ariati Hidayat; Sidharta Utama
INTERNATIONAL RESEARCH JOURNAL OF BUSINESS STUDIES Vol 8, No 3 (2015): December 2015 - March 2016
Publisher : Universitas Prasetiya Mulya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21632/irjbs.8.3.1146

Board of Commissioners in Corporate Governance, Firm Performance, and Ownership Structure Cynthia Afriani Utama; Sidharta Utama
INTERNATIONAL RESEARCH JOURNAL OF BUSINESS STUDIES Vol 12, No 2 (2019): August - November 2019
Publisher : Universitas Prasetiya Mulya

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

The purpose of this study is to investigate: firstly, the two-way causality between firms performance and the size of BOC; secondly, the nonlinear effect of board size on the firms’ performance; thirdly, the direct and moderating effects of the ownership structure on the influence of firm performance on board size. Using the ROA as a measure of firm performance, we find that there is a simultaneous relationship between firm performance and the size of BOC: the size of the board has an inverted U-shaped effect on firm performance while firms performance has a negative influence on board size. We find that the size of the board of commissioners increases firm performance up to a certain level, but a very large board reduces firm performance. We find marginal evidence that ownership structure has a moderating effect on the impact of firm performance on board size. We document that the negative effect of performance on board size dissipates as ownership right increases. The negative effect of performance on board size marginally strengthens. Thus, our study contributes to the literature by finding that the negative influence of firm performance and board primarily occurs on firms that are subject to high incentive expropriation by controlling shareholders.Keywords:board size, board of commissioners, corporate governance, firm performance,ownership structure, cash-flow rights, control rights.* Department of Management, Faculty of Economics and Business, Universitas Indonesia, Kampus UI Depok 16424, Indonesia** Department of Accounting, Faculty of Economic and Business, Universitas Indonesia, Kampus UI Depok 16424, Indonesia https://doi.org/10.21632/irjbs.12.2.111-136

Female Leaders and Earnings Management: An Exploration of Chief Positions Septian Bayu Kristanto; Sidharta Utama; Sylvia Veronica N.P. Siregar
The Indonesian Journal of Accounting Research Vol 25, No 1 (2022): IJAR January - April 2022
Publisher : The Indonesian Journal of Accounting Research

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33312/ijar.578

Female leader affects earnings management and the quality of the financial report. This study wants to investigate the effect of female leaders on real earnings management. We use the nine chief positions with a female presence as a leader. The data were obtained from Indonesia's public listed company on the S&P Global Market Intelligence database from 2012-2020. For real earnings management measures, we used data two years earlier. The data sample selected was 3.420 firm-year observations. The sample was separated into 12 classifications, according to IDX Industrial Classifications. Female leader positions as chief executive, chief accounting, and chief administration negatively affect real earnings management. While female leader positions as chief technology and chief marketing have a positive effect on real earnings management. We find that industrial has a different effect on real earnings management. Many studies are predicting female chief leaders and real earnings management. The most significant finding is female roles as finance managers. However, no research predicts real earning management using female leaders in various chief positions.

Audit Committee, control of Majority Shareholder and Their Impact on Audit Committee Effectiveness: Indonesia Evidence Sidharta Utama; F. Leonardo Z F. Leonardo Z
The Indonesian Journal of Accounting Research Vol 9, No 1 (2006): JRAI January 2006
Publisher : The Indonesian Journal of Accounting Research

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33312/ijar.147

The purpose of this study is to provide empirical evidence about the impact of audit committee composition and the control of firm governance on audit committee effectiveness (ACE), based on a survey of audit committees of publicly listed companies in the Jakarta Stock Exchange. Examining the impact of the control of firm governance by majority shareholders is interesting since the ownership structure of listed companies in Indonesia is still dominated by family ownershipThe study finds that audit committee composition has a positive impact on ACE. But, ACE is also influenced by the control of firm governance by majority shareholders. Our findings are consistent with the hypothesis that majority shareholders perceive audit committees as a threat to their control of the companies, and therefore use their power in the board of commissioners as well as directors to restrict audit committee authority, resources, and efforts.

Pengaruh Persistensi Laba dan Laba Negatif Terhadap Koefisien Respon Laba dan Koefisien Respon Nilai Buku Ekuitas pada Perusahaan Manufaktur di Bursa Efek Jakarta Zahroh Naimah; Sidharta Utama
The Indonesian Journal of Accounting Research Vol 10, No 3 (2007): JRAI September 2007
Publisher : The Indonesian Journal of Accounting Research

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33312/ijar.177

The objective of this study is to examine the value relevance of accounting earnings and book value of equity in explaining stock price. The study is aimed to identify the factors that influence earnings response coefficient and equity book value coefficients. The factors are negative earnings and earnings persistence. The results show that accounting earnings and book value of equity are positively associated with stock price. This results support the prior studies that accounting earnings and book value of equity have value relevance (Ohlson, 1995; Burgthaler and Dichev, 1997, etc). Accounting earnings and book value of equity are useful to explain stock price changes. The results of this study are consistent with previous studies that earnings response coefficient is greater in the firms that have permanent earnings (Ohlson, 1995; Collins and Kothari, 1989; Barth et al., 1998; Ou and Sepe, 2002), According to prior studies, earnings response coefficient is smaller in the firms that have negative earnings (Jan and Ou, 1995; Hayn, 1995). Book value response coefficients is smaller in the firms that have permanent earnings and greater in the firms that have negative earnings, consistent with Ohlson, 1995; Collins and Kothari, 1989; Barth et al., 1998; Ou and Sepe, 2002, Jan and Ou, 1995; Hayn, 1995.

Co-Authors Ariyoto Karnen, Kresnohadi Athalia Ariati Hidayat Cynthia A. Utama Cynthia Afriani Utama, Cynthia Afriani Dewi Kartika Sari Dianwicaksih Arieftiara Dwi Martani Etty Murwaningsari F. Leonardo Z F. Leonardo Z Fitriany Fitriany, Fitriany Hilda Rosietta, Hilda Hilda Rossieta I Gusti Ketut Agung Ulupui I Made Pradana Adiputra Karnen, Kresnohadi Ariyoto Karyani, Etikah Rachmawati, Nurul Aisyah SATRIYAS ILYAS Septian Bayu Kristanto Siti Khomsatun Sylvia Veronica Siregar Zahroh Naimah, Zahroh

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