Articles
<![CDATA[Earnings Management in Companies that Missed and Beat Analyst Consensus ]]>
<![CDATA[Ni Made Cesya Pratiwi]]>;
<![CDATA[Dewa Gede Wirama]]>
<![CDATA[ Jurnal Ilmiah Akuntansi dan Bisnis Vol 16 No 1 (2021) ]]>
Publisher : <![CDATA[Fakultas Ekonomi dan Bisnis, Universitas Udayana bekerjasama dengan Ikatan Sarjana Ekonomi Cabang Bali ]]>
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DOI: 10.24843/JIAB.2021.v16.i01.p04
<![CDATA[The aim of this study is to analyze the differences of earnings management between companies that missed and beat analyst consensus. Nonfinancial companies listed in the Indonesia Stock Exchange in 2017–2018 and have analyst consensus data available are used as the research sample, which consist of 28 companies observed for four quarters. The final sample in the analysis consists of 94 observations (firm-quarters). The independent sample t-test is used for data analysis. Results show that companies that missed analyst consensus have greater discretionary accrual than the group of companies that beat analyst consensus. Therefore, differences in earnings management between companies that missed and beat analyst consensus exist. Companies that missed analyst consensus are more inclined to conduct earnings management in the following period. This finding opens the possibility to develop a new hypothesis in the positive accounting research framework. Keywords: Analyst Consensus; Missed and Beat; Earnings Management.]]>
<![CDATA[SIGNIFIKANSI DAN IMPLIKASI PERBEDAAN SPESIFIKASI RETURN DALAM PENELITIAN PASAR MODAL ]]>
<![CDATA[DEWA GEDE WIRAMA]]>
<![CDATA[ Jurnal Ilmiah Akuntansi dan Bisnis Vol 4 No 2 (2009) ]]>
Publisher : <![CDATA[Fakultas Ekonomi dan Bisnis, Universitas Udayana bekerjasama dengan Ikatan Sarjana Ekonomi Cabang Bali ]]>
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<![CDATA[The purpose of this research is to determine the statisticalsignificance and implication of various specifications of stock return.Three specifications are considered, i.e. return that (1) ignoresdividend, (2) ignores the proceed from further investment ofdividend, and (3) assumes that dividend is reinvested in the samestock. The differences among the three specifications are analyzedunder one, four, and seven years of investment periods.Using a sample consisted of 102 companies listed on theIndonesian Stock Market during the seven year period starting fromthe beginning of 2001, it is found that each return specificationresults in return numbers that in general are statistically differentfrom each other. The only insignificant difference is the differencebetween return that ignores proceed from further investment ondividend and the one that assumes that dividend is reinvested in thesame stock for one year of investment in stock.The implication of the differences in returns calculated undereach specification is further analyzed using an association studythat regresses market return on accounting return (ROE) in the sameone, four, and seven year periods of investment. Each returnspecification produces different R2s and betas. Statisticallysignificant differences are found in the analysis with four and sevenyear periods of investment, except for the difference between returnsthat, again, ignores the proceed from further investment on dividendand the one that assumes that dividend is reinvested in the samestock for seven years of investment in stock.The conclusion of this research is that ignoring dividend inreturn calculation might lead to inaccurate results. The impact ofignoring further investment of dividend is somewhat less severethan the impact of ignoring dividend altogether.]]>
<![CDATA[Reaksi Pasar Atas Pengumuman Paket Kebijakan Ekonomi X Tentang Daftar Negatif Investasi ]]>
<![CDATA[Gusti Ayu Surya Rosita Dewi]]>;
<![CDATA[Dewa Gede Wirama]]>;
<![CDATA[Ni Ketut Rasmini]]>
<![CDATA[ Jurnal Ilmiah Akuntansi dan Bisnis Vol 12 No 2 (2017) ]]>
Publisher : <![CDATA[Fakultas Ekonomi dan Bisnis, Universitas Udayana bekerjasama dengan Ikatan Sarjana Ekonomi Cabang Bali ]]>
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DOI: 10.24843/JIAB.2017.v12.i02.P05
<![CDATA[ABSTRACT This study aims to empirically test the market reaction that occurs upon the announcement of Economic Policy Package X about the negative investment list (DNI). This study using event study method. The market reaction is calculated using cumulative abnormal return (CAR). The population used are all companies listed on the Indonesian Stock Exchange (BEI), 525 companies. The number of samples used are 477 companies. The analysis technique used is the one sample t-test and the independent sample t-test. The analysis showed that there is a positive market reaction to the announcement of the Economic Policy Package X. Furthermore, there are differences in the reaction that occurs between the business sectors that benefited by the policy than other business sectors. The highest reaction is shown by the business sectors that benefited by the policy. Business sectors which are benefited by the policy announcement obtained higher market reaction than their counterpart. Keywords: Market reaction, economic policy package X, negative list investment, abnormal return]]>
<![CDATA[PENGUJIAN VALIDITAS EMPIRIS CAPITAL ASSET PRICING MODEL DI PASAR MODAL INDONESIA ]]>
<![CDATA[Yolanda Marsyella Simangunsong]]>;
<![CDATA[Dewa Gede Wirama]]>
<![CDATA[ Jurnal Ilmiah Akuntansi dan Bisnis Vol 9 No 1 (2014) ]]>
Publisher : <![CDATA[Fakultas Ekonomi dan Bisnis, Universitas Udayana bekerjasama dengan Ikatan Sarjana Ekonomi Cabang Bali ]]>
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<![CDATA[ABSTRACTA careful analysis of securities trading, supported by thorough and accurate data needed to determine the level of returns and risks in investing. The global financial crisis led many academics to question the validity of market efficiency and the Capital Asset Pricing Model which is one of the estimation model that can determine the return and risk relationship. This study aimed to test the empirical validity of Capital Asset Pricing Model in Indonesian capital market. This study used a quantitative approach with 45 firms as sample (270 observations) which were incorporated on LQ45 stock index in the period of August 2012 until January 2013. Simple linear regression analysis was conducted to obtain an overview of the relationship between beta and return. The analysis showed that beta did not explain return. In addition, four other predictions that were used to empirically test the Capital Asset Pricing Model could not be fulfilled. This meant that the Capital Asset Pricing Model was not valid in the Indonesian capital market.Keywords: beta,CAPM, LQ45, return]]>
<![CDATA[TEORI SURPLUS BERSIH: VALUASI PERUSAHAAN BERDASARKAN DATA AKUNTANSI ]]>
<![CDATA[DEWA GEDE WIRAMA]]>
<![CDATA[ Jurnal Ilmiah Akuntansi dan Bisnis Vol 3 No 2 (2008) ]]>
Publisher : <![CDATA[Fakultas Ekonomi dan Bisnis, Universitas Udayana bekerjasama dengan Ikatan Sarjana Ekonomi Cabang Bali ]]>
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<![CDATA[Fundamental accounting research under measurement perspective regained researchers’ consideration following the publications of Ohlson (1995) and Feltham and Ohlson (1995) valuation models. While fundamental researches before Ball and Brown (1968) were mostly focusing on the determination of the “correct” income number in economic sense, current fundamental researches are more about firm valuation based on accounting numbers.Ohlson (1995) and Feltham and Ohlson (1995) valuation models are based on clean surplus theory. The theory considers accounting as a wealth creation and distribution recording system, and thus provides the base of the relation between firm value and accounting numbers. Based on neoclassical concept of value, clean surplus theory states that a firm value is equal to its book value plus the present value of expected abnormal earnings, termed as goodwill. Based on that relation, Ohlson (1995) formulated a closed-form valuation model that explain firm value based only on current and one period ahead book value and earnings. Feltham and Ohlson (1995) is an attempt to generalized Ohlson (1995) for accounting conservatism and growth.Clean surplus theory is now used as an alternative to CAPM in estimating cost of capital and risk. While Feltham and Ohlson (1995) model seems to have a misspecification for conservatism, the empirical validity of Ohslon (1995) model has been tested with relatively satisfactory results. The model is deemed to be valid as it explains stock prices. The test results, however, also suggest that there is plenty of room to make further contribution in refining the theory. Further research suggestion includes, among others, examination of factors affecting abnormal earnings and the validity of the theory in general, more accurate specification of LID, and enhancement of Feltham and Ohlson (1995) model in dealing with accounting conservatism and growth.]]>
<![CDATA[PENGARUH MODAL INTELEKTUAL PADA KINERJA PASAR PERUSAHAAN (Studi Empiris pada Perusahaan Keuangan yang Terdaftar di Bursa Efek Indonesia) ]]>
<![CDATA[NI WAYAN YUNIASIH]]>;
<![CDATA[DEWA GEDE WIRAMA]]>;
<![CDATA[I DEWA NYOMAN BADERA]]>
<![CDATA[ Jurnal Ilmiah Akuntansi dan Bisnis Vol 6 No 2 (2011) ]]>
Publisher : <![CDATA[Fakultas Ekonomi dan Bisnis, Universitas Udayana bekerjasama dengan Ikatan Sarjana Ekonomi Cabang Bali ]]>
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<![CDATA[Intellectual capital is believed to be a contributing factor to companies’ performances and values. Several studies have been carried out on the influence of this capital to a company’s performance. However, the results still show some inconsistencies. Therefore, this study aims at re-evaluating the influence of intellectual capital through the addition of ownership structure as a control variable. Ownership structure needs to be controlled since, in Indonesia, it is likely to be concentrated due to the low rate of investor protection. Intellectual capital is measured by the VAICTM method, while the market performance is determined by the price to book value ratio. The sample is financial companies listed on Indonesian Stock Market during the 2004-2008 periods. The result of the analysis fails to support the hypothesis that intellectual capital is associated with firm’s values. The result probably is an indication that market is incapable to assess the value of a company’s intellectual capital because it has no standardized measure and the limited quantitative disclosure regarding intellectual capital.]]>
<![CDATA[REAKSI PASAR MODAL INDONESIA ATAS KEBIJAKAN TAX AMNESTY ]]>
<![CDATA[I G A Ayu Pradnyani Harum Dewi]]>;
<![CDATA[Dewa Gede Wirama]]>;
<![CDATA[Maria M. Ratna Sari]]>
<![CDATA[ Buletin Studi Ekonomi VOL.23.NO.1. FEBRUARI 2018 (PP 1-153) ]]>
Publisher : <![CDATA[Buletin Studi Ekonomi ]]>
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<![CDATA[Penelitian ini menganalisis reaksi pasar modal Indonesia atas kebijakan tax amnesty dan perbedaan reaksi pasar modal antara perusahaan kecil dan perusahaan besar. Reaksi pasar dalam penelitian ini diukur dengan CAR (Cumulative Abnormal Return). Model perhitungan CAR yang digunakan adalah mean adjusted model, dengan jendela peristiwa 7 hari di sekitar tanggal peristiwa. Ukuran perusahaan dibedakan berdasarkan aset untuk menentukan kelompok perusahaan kecil dan perusahaan besar. Seluruh perusahaan yang termasuk dalam indeks KOMPAS 100 tahun 2015 dan 2016 digunakan sebagai populasi dengan menggunakan purposive sampling sesuai dengan kriteria yang ditetapkan. Teknik analisis data yang digunakan adalah one sample t-test, dan independent t-test. Hasil penelitian menunjukkan terdapat reaksi positif atas peristiwa pengumuman kebijakan tax amnesty dan reaksi pasar lebih kuat pada perusahaan besar dibandingkan perusahaan kecil. Kata kunci: kebijakan tax amnesty, ukuran perusahaan]]>
<![CDATA[PENGARUH KEBERADAAN KOMITE AUDIT PADA HUBUNGAN POSITIF RISIKO PERUSAHAAN DENGAN KONSERVATISMA AKUNTANSI ]]>
<![CDATA[Putu Diah Asrida]]>;
<![CDATA[A.A.G.P Widanaputra]]>;
<![CDATA[Dewa Gede Wirama]]>
<![CDATA[ Buletin Studi Ekonomi VOL.20.NO.2.AGUSTUS 2015 (PP 83-176) ]]>
Publisher : <![CDATA[Buletin Studi Ekonomi ]]>
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<![CDATA[The Impact of the Existence of the Audit Committees to the Relationship Between Company’s risk and Conservatism Accounting. The aim of the research is to examine the impact of the existence of the audit committees to the relationship between company’s risk and conservatism accounting. The audit committee is measured by proxy the number of audit committee members while the company’s risk was proxy with debt to equity ratio and accounting conservatism measured by the accrual value. Sample in this research are companies listed to stock exchanges of Indonesia which publishes annual report from 2005 to 2009 and who applied conservative accounting as well as having an audit committee. The testing of hypothesis in this research is used moderated regression analysis (MRA). The result of hypothesis test indicated that audit committees affect the positive relationship between company’s risk and conservatism accounting. The higher of the company’s risk, then the audit committee will recommend the application of conservative accounting. This is proving that the existence of audit committees within the company can minimize the agent’s problem.Keywords: audit committee, company’s risk and accounting conservatism ]]>
<![CDATA[PENGARUH KOMPETENSI DAN MOTIVASI PADA PENYERAPAN ANGGARAN BELANJA MODAL DENGAN KOMITMEN ORGANISASI PEJABAT PENGELOLA KEUANGAN SEBAGAI VARIABEL PEMODERASI ]]>
<![CDATA[Egidius Imanuel Laka]]>;
<![CDATA[I Made Sukartha]]>;
<![CDATA[Dewa Gede Wirama]]>
<![CDATA[ E-Jurnal Ekonomi dan Bisnis Universitas Udayana VOLUME.06.NO.12.TAHUN 2017 ]]>
Publisher : <![CDATA[Fakultas Ekonomi dan Bisnis Universitas Udayana ]]>
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DOI: 10.24843/EEB.2017.v06.i12.p05
<![CDATA[The purpose of this study is to examine the influence of competence and motivation of financial management officials on the performance of capital expenditure absorption in local government of Timor Tengah Utara with organizational commitment as moderating variable. The population in this study is the work units (OPD) in Timor Tengah Utara regency government environment as much as 31 OPD. Sampling of the entire population is known by the technique of saturated samples or censuses. The number of respondents was 93 respondents. All respondents' answers to the research statement using questionnaires are the primary data used in this study. Hypothesis testing was done by multiple regression and moderation regression (MRA) Data used in the form of primary data using questionnaires. The analysis technique used are multiple regression and moderated analysis regression (MRA). The result of multiple regression analysis shows that competence and motivation of financial management officials proved have a positive effect on the performance of capital expenditure absorption, and moderated regression analysis shows that organizational commitment had no strengthen the influence of competence and motivation on capital expenditure absorption.]]>
<![CDATA[PENGARUH UKURAN PERUSAHAAN TERHADAP KONSERVATISME AKUNTANSI DENGAN LEVERAGE SEBAGAI VARIABEL PEMODERASI ]]>
<![CDATA[Kadek Nita Sumiari]]>;
<![CDATA[Dewa Gede Wirama]]>
<![CDATA[ E-Jurnal Ekonomi dan Bisnis Universitas Udayana VOLUME.05.NO.04.TAHUN 2016 ]]>
Publisher : <![CDATA[Fakultas Ekonomi dan Bisnis Universitas Udayana ]]>
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<![CDATA[The purpose of this study is to analyze the effect of firm size on accounting conservatism and leverage as moderating variable between firm size and accounting conservatism. In this study, conservatism is measured by Earning/Accrual Method (Zhang Model), firm size is measured by ln total assets, and leverage is measured by debt to equity ratio. The Companies listed on the Indonesia Stock Exchange during the years 2009-2013 was used as population and the total sample are 215 companies. Data analysis techniques are used simple linear regression method and Moderated Regression Analysis (MRA). The results show that firm size has no effect on accounting conservatism, while leverage act as a moderating variable in the relationship between firm size and accounting conservatism.]]>
