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All Journal Jurnal AKSI (Akuntansi dan Sistem Informasi) International Journal of Social Science and Business
Supatmi Supatmi
FEB UKSW
Computer Science & IT Economics, Econometrics & Finance Social Sciences

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Tunneling and Company Performance in The Financial Industry In Indonesia Supatmi Supatmi; Kristina Devihanna Batubara
Jurnal AKSI (Akuntansi dan Sistem Informasi) Vol. 7 No. 1 (2022)
Publisher : Politeknik Negeri Madiun

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32486/aksi.v7i1.228

Abstract

This study aims to find empirical evidence of the impact of related party transactions, particularly tunneling transactions, on the performance of the Indonesian financial industry. The research samples were 105 companies that are members of the financial industry listed on the Indonesia Stock Exchange (IDX) during 2018-2020 with a total of 300 observations. Tunneling was measured using the proportion of related party transactions related to trade receivables, other receivables, and assets other than trade receivables. Company performance was measured by accounting performance as proxied by return on assets (ROA) and market performance as proxied by Tobin’s Q. The results showed that the more financial companies tunneling through related party transactions related to assets other than trade receivables, the lower the accounting performance (ROA) but the higher the market performance. Meanwhile, tunneling through related party transactions of trade and other receivables in the financial industry was shown to have no effect on accounting or market performance.
Blockholder Ownership Impact on the Related Party Transactions to the Financial Industries Supatmi Supatmi; Ines Aprilia Primadani
International Journal of Social Science and Business Vol. 5 No. 2 (2021): May
Publisher : Universitas Pendidikan Ganesha

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23887/ijssb.v5i2.35605

Abstract

Research on the impact of ownership structure on related party transactions carried out by companies gives varied results. Moreover, this research still rarely uses a sample of the financial industry in Indonesia. So, the study aimed to find out block holder ownership effect on tunnelling or propping related party transactions in financial industries in Indonesia. Sample research were 82 financial industries that listed in Indonesian Stock Exchange in 2017-2019 with 246 observations as panel data. Based on panel data regression test, this study found block holder ownership had positive effects on tunnelling related party transactions that proxied by related party transactions related to accounts receivable and related party transactions related to assets other than account receivables.  Meanwhile, blockholder ownership had no effect on propping related party transactions that proxied by related party transactions related to accounts payable and liabilities other than accounts payable. The study also found blockholder ownership effect on tunnelling related party transactions was bigger than propping. These findings were appropriate with the relevant agency theory about blockholder ownership effect on related party transactions which had the potency on the emergence of agency conflict among the shareholders.
Co-Authors Indriyani Dwi Putri Ines Aprilia Primadani Kristina Devihanna Batubara Krisvalenta Wukirasih