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All Journal Jurnal Akuntansi & Auditing Indonesia Gadjah Mada International Journal of Business
Tatang Ary Gumanti
Universitas Jember
Economics, Econometrics & Finance

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CAN ACCOUNTING INFORMATION ACT AS A PROXY FOR EX ANTE UNCERTAINTY IN INITIAL PUBLIC OFFERINGS? Tatang Ary Gumanti
Gadjah Mada International Journal of Business Vol 5, No 2 (2003): May-August
Publisher : Master in Management, Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (1418.396 KB) | DOI: 10.22146/gamaijb.5405

Abstract

This paper reviews and summarizes previous works and the rationale for the proposition that accounting information is in fact value relevant in the determination of an initial public offering IPO).Theoretical and empirical evidence has indicated that certain accounting measures can he used as proxies for total firm risk, that is, they could determine the riskiness of a corporation. The literature also advocates that accounting information is relevant in determining the value and thus the riskiness of a corporation through the use of accounting analysis. Since most of the information available in the prospectus is accounting information, it is arguable that this information represents a potential source for assessing the issuing firm. Some scholars have also advocated the possibility of using accounting information in assessing the value of firm making an IPO. Numerous papers have provided analytical and empirical evidence of the association between accounting numbers and the value of IPOs. The conclusion generally comes to show that information in the prospectus is value relevant concerning the IPO. The paper shows that it is indeed an arguable to use accounting information in the valuation of an IPO. Accordingly, it is an empirical issue whether accounting information has the property in explaining the ex-ante uncertainty of an IPO.
Pilihan-Pilihan Akuntansi dalam Aplikasi Teori Akuntansi Positif Tatang Ary Gumanti
Jurnal Akuntansi dan Auditing Indonesia Vol. 6 No. 1 (2002)
Publisher : Accounting Department, Faculty of Business and Economics, Universitas Islam Indonesia

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Abstract

Empirical researches based on the positive accounting theory or the economic consequence theory have directed to seek for the answers about the reasons that motivate managers in selecting or determining certain accounting techniques in preference to other techniques. So far the existing studies have found an association between the firms’ specific characteristics and managers’ decision to select certain accounting techniques. That is, there is specific reason of why manager prefers to use one accounting method but not the others. Further study needs to be conducted to seek the answers whether managers have specific reasons or behave opportunistically by adopting accounting techniques that affect the firm accounting performance for which the selected techniques do not against the generally accepted accounting principles (accounting standards). Key words: Accounting techniques (methods), positive accounting theory, opportunistic behavior, accounting regulations.
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