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All Journal Economic Journal of Emerging Markets Journal of Economics, Business, & Accountancy Ventura Journal of Indonesian Economy and Business Akuntabel : Jurnal Ekonomi dan Keuangan The Indonesian Journal of Accounting Research juremi: jurnal riset ekonomi Jurnal Riset Akuntansi dan Keuangan Jurnal Riset Manajemen dan Bisnis Journal of Innovation Research and Knowledge Journal of International Conference Proceedings Jurnal Ilmiah MEA (Manajemen, Ekonomi, dan Akuntansi) Al-Kharaj: Jurnal Ekonomi, Keuangan & Bisnis Syariah El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam Journal of Ekonomics, Finance, and Management Studies
Baldric Siregar
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Religion Agriculture, Biological Sciences & Forestry Humanities Civil Engineering, Building, Construction & Architecture Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Electrical & Electronics Engineering Health Professions Industrial & Manufacturing Engineering Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Social Sciences Other

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EKSPROPRIASI MELALUI UTANG DALAM STRUKTUR KEPEMILIKAN ULTIMAT Siregar, M.B.A., Ak., Dr. Baldric
Journal of Indonesian Economy and Business Vol 23, No 4 (2008): October
Publisher : Journal of Indonesian Economy and Business

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

Abstract

This study addresses ultimate ownership issue and investigates its implications on leverage. By using sample consists of firms listed in the Jakarta Stock Exchange for the period from 2000 to 2004, this study shows that the publicly traded firm ultimate ownership is concentrated in the hands of controlling shareholders. Ownership concentration can be divided into those of cash flow rights and control rights. Those two concentrations do not go together but have different implications. The controlling shareholders enhance their control domination through pyramid structures and crossholdings among firms. Control flow rights consequently exceed cash flow rights. The cash flow right concentration is a financial incentive to avoid expropriation. This conclusion is support by evidence of negative effects of cash flow rights on leverage. On the other hand, control right concentration is an incentive to generate private benefits through expropriation. This conclusion is support by evidence of positive effects of control rights on leverage. When control and cash flow rights are separated, the controlling shareholders have higher incentive to expropriation by participating in management. This is so because of higher negative effect of cash flow right leverage on leverage.Keywords: cash flow rights, control rights, cash flow right leverage, pyramiding, cross-holding,
Analisis Korelasi Kanonikal Komponen Aktiva dan Pasiva Siregar, M.B.A., Ak., Drs. Baldric
Journal of Indonesian Economy and Business Vol 21, No 1 (2006): January
Publisher : Journal of Indonesian Economy and Business

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Abstract

The independence of asset and liability composition is obvious in Modigliani andMiller’s capital structure proposition. While, independence of investing and financingdecisions is a very useful assumption to simplify corporate financial decisions, the actualbalance sheets of corporations do not reveal independence between the two sides of thebalance sheet. The purposes of this paper are to empirically identify relationship betweenthe structures of left side and right side of balance sheet and to explain the nature of theserelationships by using canonical correlation analysis. Canonical correlation analysis showsthat firms match the maturity structure of their assets and liabilities, short-term (long-term)assets tend to be financed with short-term (long-term) liabilities, accounts receivable areused as collateral for short-term loan, and fixed assets are use as collateral for long-termloan.Keywords: asset composition, liability composition, hedging, collateral, financing, canonical variate, canonical loading, canonical correlation, canonical root, redundancy index.
PENGARUH KARAKTERISTIK PEMERINTAHAN TERHADAP AUDIT DELAY LAPORAN KEUANGAN PEMERINTAH DAERAH Siregar, Baldric
Jurnal Riset Akuntansi dan Keuangan Vol 11, No 2 (2015): Jurnal Riset Akuntansi dan Keuangan
Publisher : Fakultas Bisnis UKDW

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21460/jrak.2015.112.10

Abstract

Financial statements that were not provided on time may cause those report loses their capacity toinfluence decisions. This study aimed to examine the effects of local government characteristics onaudit delay of government financial reports of Yogyakarta Special Region and Central Java. Thisstudy uses 40 districs and cities as the study sample. Data were obtained from the Supreme AuditAgency and the Central Bureau of Statistics. The dependent variable of this research is audit delay.While the independent variables include the size of government, the value of the budget, and leverage.Multiple regression analysis was used to test the hypothesis. The test results showed that the size ofgovernment and the level of leverage negatively affect audit delay. Budgets value does notsignificantly affect audit delay.Keywords: audit delay, financial report, governmental size, budget value, and leverage
KECENDERUNGAN PENERIMAAN OPINI AUDIT GOING CONCERN: STUDI EMPIRIS DI BURSA EFEK INDONESIA Siregar, Baldric; Rahman, Abdul
Jurnal Riset Akuntansi dan Keuangan Vol 8, No 2 (2012): Jurnal Riset Akuntansi dan Keuangan
Publisher : Fakultas Bisnis UKDW

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21460/jrak.2012.82.21

Abstract

This research provides the investigation over the acceptance of going concern audit opinion  which can be performed by observing the company’s internal condition such as the audit  quality, company’s financial condition, audit opinion prior year, company growth, company  size, and debt to equity ratio. Samples are obtained by purposive sampling method and 185 observation data from 2006 - 2010 at manufacturing companies listed at Indonesia Stock Exchange. The logistic regression used to examine the factors that are predicted to affect the probability of acceptance of going concern audit opinion. The result of this research is that audit opinion prior year, company growth, and debt to equity ratio are significantly affect the probability of acceptance of going concern audit opinion. On the other hand audit quality, company’s financial condition, and company size do not significantly acceptance of going concern audit opinion.Keywords: audit quality, financial condition, growth, going concern, going concern opinion
The evaluation of the implementation of regional autonomy in Indonesia Rudy Badrudin; Baldric Siregar
Economic Journal of Emerging Markets Volume 7 Issue 1, 2015
Publisher : Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/ejem.vol7.iss1.art1

Abstract

The implementation of regional autonomy has been running nearly 15 years. In fact, the purpose of regional autonomy for improving the welfare has not been fully achieved. This study aims to evaluate the implementation of regional autonomy in improving the welfare by using capital expenditure and growth as an intervening variable. We use the data of 461 counties and cities, the period of 2006-2013, Partial Least Square for testing hypotheses. Empirical evidence shows that decentralization significantly effect on capital, growth, and welfare. Capital has a significant effect on growth but does not has a significant effect on welfare. Growth has a significant effect on welfare.
Determinants of budget forecast errors and their impacts on budget effectiveness: evidence from Indonesia Baldric Siregar; Lilis Susanti
Journal of Economics, Business, & Accountancy Ventura Vol 21, No 3 (2018): December 2018 - March 2019
Publisher : STIE Perbanas Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14414/jebav.v21i3.1468

Abstract

This research attempts to identify the determinants of budget forecast errors and explore the impact of the errors on the budget effectiveness. This study differs from the earlier studies such as including covering 90% of districts and cities, other studies on budget forecast error have not addressed how financial and governmental characteristics effect budget forecast error, and using a structural model to test the factors effecting budget forecast error and their impacts on budget effectiveness. The data are derived from Central Bureau of Statistics and local government website. It used the data of 444 local government for the period of 2006 to 2013, and analyzed them using a partial least square for testing the hypotheses. The results show that the significant factors affecting budget forecast errors are revenue growth, expenditure growth, and government complexity. The higher the revenue growth the greater the likelihood of budget forecast errors. Likewise, the greater the spending growth, the greater the budget forecast errors. The empirical evidence also suggests that budget forecast errors are bad for the economy. The implications of this findings are that local government must be more careful in projecting a growing income and expenditure budget, coordinate well so that work units can develop accurate budgets, and carry out a better monitoring function for all the main stages of budgeting.
EKSPROPRIASI MELALUI UTANG DALAM STRUKTUR KEPEMILIKAN ULTIMAT Dr. Baldric Siregar, M.B.A., Ak.
Journal of Indonesian Economy and Business (JIEB) Vol 23, No 4 (2008): October
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (203.533 KB) | DOI: 10.22146/jieb.6315

Abstract

This study addresses ultimate ownership issue and investigates its implications on leverage. By using sample consists of firms listed in the Jakarta Stock Exchange for the period from 2000 to 2004, this study shows that the publicly traded firm ultimate ownership is concentrated in the hands of controlling shareholders. Ownership concentration can be divided into those of cash flow rights and control rights. Those two concentrations do not go together but have different implications. The controlling shareholders enhance their control domination through pyramid structures and crossholdings among firms. Control flow rights consequently exceed cash flow rights. The cash flow right concentration is a financial incentive to avoid expropriation. This conclusion is support by evidence of negative effects of cash flow rights on leverage. On the other hand, control right concentration is an incentive to generate private benefits through expropriation. This conclusion is support by evidence of positive effects of control rights on leverage. When control and cash flow rights are separated, the controlling shareholders have higher incentive to expropriation by participating in management. This is so because of higher negative effect of cash flow right leverage on leverage.
ANALISIS KORELASI KANONIKAL KOMPONEN AKTIVA DAN PASIVA Baldric Siregar
Journal of Indonesian Economy and Business (JIEB) Vol 21, No 1 (2006): January
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (272.565 KB) | DOI: 10.22146/jieb.6497

Abstract

The independence of asset and liability composition is obvious in Modigliani andMiller’s capital structure proposition. While, independence of investing and financingdecisions is a very useful assumption to simplify corporate financial decisions, the actualbalance sheets of corporations do not reveal independence between the two sides of thebalance sheet. The purposes of this paper are to empirically identify relationship betweenthe structures of left side and right side of balance sheet and to explain the nature of theserelationships by using canonical correlation analysis. Canonical correlation analysis showsthat firms match the maturity structure of their assets and liabilities, short-term (long-term)assets tend to be financed with short-term (long-term) liabilities, accounts receivable areused as collateral for short-term loan, and fixed assets are use as collateral for long-termloan.
PENGARUH KECENDERUNGAN MANAJER DALAM PEMBUATAN KEPUTUSAN TERHADAP PAYOFF MAGNITUDE David Prasetya; Baldric Siregar
Jurnal Riset Akuntansi dan Keuangan Vol 8, No 1 (2012): Jurnal Riset Akuntansi dan Keuangan
Publisher : Fakultas Bisnis UKDW

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21460/jrak.2012.81.172

Abstract

The objective of this research is to obtain empirical evidence regarding the factors that influence managers propensity to take risk which the effects of payoff magnitude (the magnitudeof the project selection). Propensity to take risk consists of risk taking managers and risk taking managers. Experiment is designed by using factorial design 1 x 3 between subjects. Fifty-two students, consisted of STIE YKPN Yogyakarta’s students from Master of Accounting program, Master of Management program, and PPA program, are participate in this experiment.Subjects are selected as the proxy of manager because of the difficulties to obtain actual manager, by consideration that most of students from Master of Accounting program, Masterof Management Program, and PPA program are candidate manager. In general, the results show that propensity to take risk effect on payoff magnitude. Of the six factors studied, onlyfour are shown to influence propensity to take risk. Those factors are probability that generate a loss, probability that no bonus, maximum bonus available, and weigthed average expectedbonus. The results show that gender do not influence propensity to take risk.Keywords: propensity to take risk, risk averse, risk taking, payoff magnitude, and gender
PENGARUH KARAKTERISTIK PEMERINTAHAN TERHADAP AUDIT DELAY LAPORAN KEUANGAN PEMERINTAH DAERAH Baldric Siregar
Jurnal Riset Akuntansi dan Keuangan Vol 11, No 2 (2015): Jurnal Riset Akuntansi dan Keuangan
Publisher : Fakultas Bisnis UKDW

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21460/jrak.2015.112.10

Abstract

Financial statements that were not provided on time may cause those report loses their capacity toinfluence decisions. This study aimed to examine the effects of local government characteristics onaudit delay of government financial reports of Yogyakarta Special Region and Central Java. Thisstudy uses 40 districs and cities as the study sample. Data were obtained from the Supreme AuditAgency and the Central Bureau of Statistics. The dependent variable of this research is audit delay.While the independent variables include the size of government, the value of the budget, and leverage.Multiple regression analysis was used to test the hypothesis. The test results showed that the size ofgovernment and the level of leverage negatively affect audit delay. Budgets value does notsignificantly affect audit delay.Keywords: audit delay, financial report, governmental size, budget value, and leverage
Co-Authors Abdul Rahman Al.Patriot Putera Mahendra Alda Yuliana Amilerienza Ningo Ana Marcal Anjar Surdiyani Beby Ayu Wardhani BIYANTO, FRASTO David Prasetya Devi Tri Nugraheni Devita Tiara Kusuma Dody Hapsoro Edigar Filipe Pereira Ernawan Septia Putri Ussholehah Fithratun Nuha Tsabita FRASTO BIYANTO Gabriela Rosellini Wisnu Geraldin Hernandi J Irma Oktarina Safitri Lilis Susanti Miftahul Huda Apriyadi Miswanto Miswanto Muhammad Nabil Bouxit Mutiara Indah Lestari Mutriara Indah Lestari Niken Betari Muslimah Nopi Handayani Nurna Pratiwi Rosalina Deviyanti Rudy Badrudin Salsabila Az-Zahra Sempati May Al-Farrasi Shandhi Alamsyah Wahyu Tri Susilowati Wahyu Tri Susilowati