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Pengaruh Pemilihan Metode Akuntansi, Auditor, Underwriter, dan Kepemilikan terhadap Tingkat Underpricing Saham Rusmanto, Toto; Fransiska, Agnesia
Jurnal Trikonomika Vol 11, No 2 (2012): Edisi Desember 2012
Publisher : Jurnal Trikonomika

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The purpose of this study is to examine the effects of accounting method choice, auditor reputation, underwriter reputation and ownership structure on the degree of underpricing. We examined 81 IPO companies listed at Indonesia Stock Exchane during 2001 to 2010 period. Using multiple regression the study found that there is no significant effect of accounting choice method, auditor reputation, underwriter and ownership structure to underpricing. This is consistent with Ali dan Hartono (2003) for inventory method choice, auditor, under writer and ownership structure. But inconsistent with Ali and Hartono (2003) for depreciation method choice.The current study classifies IPO companies from financial and non-financial, the previous research did not, this perhaps as a cause of different research result since financial and non financial companies have different characteristics and nature for fixed asset depreciations.

Model prediksi kebangkrutan pada perusahaan perusahaan properti-konstruksi di Indonesia Hendra Kusmartono; Toto Rusmanto
SOSIOHUMANIORA: Jurnal Ilmiah Ilmu Sosial dan Humaniora Vol 8 No 2 (2022): Agustus 2022
Publisher : LP2M Universitas Sarjanawiyata Tamansiswa

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30738/sosio.v8i2.12298

This study aims to analyze the Altman, Grover, and AAN models in predicting the bankruptcy of construction-property companies in Indonesia. Sample selection used the purposive sampling method, and the sample is property and construction companies listed on the Indonesia Stock Exchange. Data analysis used Hit Ratio followed by Kruskal Wallis and Mann-Whitney statistical tests. The analysis of bankruptcy predictions using the Altman method obtained that in 2015 there were two issuers grouping bankrupt companies; in 2016, 2017, and 2018, there were four issuers, and five issuers in 2019. The Grover method predicted two issuers to go bankrupt in 2016, four issuers in 2017, three in 2018, and five in 2019. The bankruptcy prediction of the AAN method shows that there are 18 issuers (2015), 19 issuers (2016), 22 issuers (2017), and 20 issuers (2018). Based on the Hit Ratio value, the accuracy of the Altman method is 88.85%, the Grover method is 90.38%, and the AAN method is 61.54%. There is a significant difference between the accuracy of the Grover method, Altman and the AAN method. The best order of accuracy in predicting bankruptcy is the Grover, Altman, and AAN methods.

Pengaruh Integrated Reporting Terhadap Firm Value Di 5 Negara Asean Devina Gunawan; Toto Rusmanto
Journal of Economic, Bussines and Accounting (COSTING) Vol 6 No 1 (2022): COSTING : Journal of Economic, Bussines and Accounting
Publisher : Institut Penelitian Matematika, Komputer, Keperawatan, Pendidikan dan Ekonomi (IPM2KPE)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31539/costing.v6i1.4575

This study aims to determine the effect of integrated reporting disclosure on firm value in 5 Asean countries. This research is a quantitative research using secondary data in the form of integrated reporting. This study uses 1 independent variable, namely integrated reporting which is measured using a dummy variable, 1 dependent variable, namely firm value which is measured using Tobins'q and 4 control variables, namely return on assets, return on equity, firm size, and debt to total asset ratio. . The sample used is 30 companies in 5 Asean countries. The results of this study indicate that integrated reporting has a positive effect on firm value, and control variables that affect firm value, namely return on equity and firm size, in addition to 2 other control variables, namely return on assets and debt to total asset ratio have no effect on firm value. The results of this study indicate that the disclosure of integrated reporting increases firm value in 5 Asean countries. Keywords : Integrated Reporting, Firm Value, ASEAN

Impact of The Corporate Governance on Sustainability Report Disclosure with Environmental Performance as A Moderation Variable in Indonesia Dewi Windary Rumaningsih; Toto Rusmanto
Jurnal Indonesia Sosial Sains Vol. 5 No. 09 (2024): Jurnal Indonesia Sosial Sains
Publisher : CV. Publikasi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59141/jiss.v5i09.1224

This study aims to analyze the effect of corporate governance on sustainability report disclosure, with environmental performance acting as a moderating variable. The analysis focuses on the role of the board of directors, independent commissioners, audit committees, and financial performance in influencing the quality of sustainability reporting, particularly within the Indonesian context. Environmental performance is measured using the PROPER scale. The study utilizes data from the annual and sustainability reports of 20 companies in the basic materials and energy mining sectors listed on the Indonesia Stock Exchange from 2018 to 2022, amounting to 100 observations. The data is processed using SPSS 23. The results show that the presence of female directors significantly enhances the quality of sustainability disclosures, as they tend to prioritize social responsibility. Moreover, financial performance, as measured by Return on Assets (ROA), positively affects sustainability reporting, with companies in better financial health being more transparent in their disclosures. Environmental performance, when combined with strong independent oversight, further improves reporting quality, reflecting the positive influence of independent commissioners and sound financial governance. The study concludes that environmental performance, as measured by the PROPER scale, plays a significant role in improving sustainability disclosures in Indonesia. It recommends that the Indonesian government provide stronger support and clearer regulations to help companies improve their sustainability practices and contribute to the G20 agenda.

Factors Affecting External Audit Fee: A Survey of Mining Sector Companies in Indonesia Nazara, Arizaro; Rusmanto, Toto
Budapest International Research and Critics Institute-Journal (BIRCI-Journal) Vol 5, No 4 (2022): Budapest International Research and Critics Institute November
Publisher : Budapest International Research and Critics University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33258/birci.v5i4.7067

The purpose of this research is to examine the effect of Profitability, Company Complexity, Audit Committee, Public Accounting Firm Size, Company Risk, and Company Size on External Audit Fees. The sample used in this study was 23 mining companies listed on the Indonesia Stock Exchange (IDX) from 2016 to 2020. The sampling technique used was the purposive sampling method. The secondary data in this study is based on the Annual Report published on the IDX official website and the official website of the sample companies. Hypothesis testing in this study uses multiple linear regression analysis with the help of IBM SPSS 26 software and a significant level of 5%. The results of this study indicate that (1) Profitability has no effect on External Audit Fees, (2) Company Complexity has a significant positive effect on External Audit Fees, (3) Audit Committee has no effect on External Audit Fees, (4) Public Accounting Firm size has a significant positive effect. On External Audit Fees, (5) Company risk does not affect External Audit Fees, and (6) Company size has a significant positive effect on External Audit Fees.

Pengaruh Risk Aversion, Financial Tools, Experience Regret, Social Relevance, dan Locus Of Control terhadap Keputusan Investasi Saham Individu di Jakarta Saraswati, Nisa Ibis; Rusmanto, Toto
Jurnal Pendidikan Tambusai Vol. 6 No. 2 (2022): Agustus 2022
Publisher : LPPM Universitas Pahlawan Tuanku Tambusai, Riau, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31004/jptam.v6i2.4029

Tujuan dari penelitian ini adalah menganalisa pengaruh Risk Aversion, Financial Tools, Experience Regret, Social Relevance, dan Locus of Control terhadap keputusan investasi saham individu dan memberikan informasi kepada para investor mengenai pengaruh Risk Aversion, Financial Tools, Experience Regret, Social Relevance, dan Locus of Control terhadap keputusan investasi pada masing - masing individu dalam kelompok usia yang dibahas pada penelitian ini. Perbedaan dari faktor - faktor yang mempengaruhi keputusan individu untuk berinvestasi saham pada setiap kelompok usia ini menjadi menarik untuk di bahas. Data diambil dari penyebaran kuesioner secara online kepada 354 responden. Metode penelitian dalam penelitian ini adalah metode kuantitatif. Kemudian data dianalisis dengan menggunakan SPSS IBM 22. Hasil dari penelitian ini adalah risk aversion dan locus of control tidak berpengaruh terhadap semua kelompok umur yang dibahas dalam penelitian ini, sedangkan financial tools memiliki pengaruh terhadap semua kelompok umur yang di bahas. Kemudian experience regret dan social relevance hanya berpengaruh terhadap kelompok usia 26 – 50 tahun. Locus of control tidak memiliki pengaruh terhadap semua kelompok usia yang diteliti. Keterbatasan dalam penelitian ini adalah tidak semua faktor yang dibahas dalam penelitian ini mewakili seluruh faktor – faktor yang dapat mempengaruhi keputusan investasi. Saran untuk penelitian selanjutnya agar mempertimbangkan faktor – faktor lain dan memperluas cakupan investasi tidak hanya saham saja.

Generation Z’s Investment Determinants In Sharia Mutual Fund Sunarsih, Uun; Pradilla, Sabhita Aufa; Rusmanto, Toto; Suryani; Hendryadi
IQTISHODUNA: Jurnal Ekonomi Islam Vol. 12 No. 2 (2023): October
Publisher : Program Studi Ekonomi Islam Fakultas Ekonomi dan Bisnis Islam Institut Agama Islam Syarifuddin Lumajang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54471/iqtishoduna.v12i2.2290

The Sharia financial industry has developed rapidly, including Sharia banks, capital markets, and other financial products, thus providing more choices to investors who want to invest per Sharia principles. This study investigated the impact of minimum capital, Islamic financial literacy, investment risk, returns, and social media on the investment decisions of Generation Z in Islamic mutual funds. The data was collected from a questionnaire distributed in Jakarta, which yielded 390 valid responses. Regression analysis revealed that minimum capital, financial literacy, investment risk, returns, and social media significantly influence investment decisions in Islamic mutual funds. The study found that social media and investment risk were the two most significant factors affecting investment decisions, followed by minimum capital, returns, and financial literacy. The minimum capital of investors' decision-making in Sharia mutual fund investment has yet to be thoroughly explored in the literature, especially in the Indonesian context. Moreover, this study contributes to the behavior of Gen Z investors in the Islamic investment research area.

Pengaruh konservatisme akuntansi, struktur modal dan arus kas bebas terhadap nilai perusahaan sebelum dan selama pandemi covid-19 pada perusahaan telekomunikasi yang terdaftar di bursa efek indonesia (BEI) Patricia, Mayang; Rusmanto, Toto
Fair Value: Jurnal Ilmiah Akuntansi dan Keuangan Vol. 4 No. Spesial Issue 5 (2022): Fair Value: Jurnal Ilmiah Akuntansi dan Keuangan
Publisher : Departement Of Accounting, Indonesian Cooperative Institute, Indonesia

This study aims to obtain empirical evidence about the effect of accounting conservatism, capital structure and free cash flow on firm value. The sample in this study is the quarterly financial statements of all telecommunication companies listed on the Indonesia Stock Exchange (IDX) in 2019-2021 before and during the Covid-19 outbreak. Data collected by purposive sampling method. The research was conducted using multiple linear regression analysis. The sample in this study was 60 samples. The results of this study indicate that accounting conservatism and capital structure have no significant effect on firm value before and during covid-19, free cash flow and firm size have a positive effect on firm value before and during covid-19.

Impact of The Corporate Governance on Sustainability Report Disclosure with Environmental Performance as A Moderation Variable in Indonesia Dewi Windary Rumaningsih; Toto Rusmanto
Jurnal Indonesia Sosial Sains Vol. 5 No. 09 (2024): Jurnal Indonesia Sosial Sains
Publisher : CV. Publikasi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59141/jiss.v5i09.1224

This study aims to analyze the effect of corporate governance on sustainability report disclosure, with environmental performance acting as a moderating variable. The analysis focuses on the role of the board of directors, independent commissioners, audit committees, and financial performance in influencing the quality of sustainability reporting, particularly within the Indonesian context. Environmental performance is measured using the PROPER scale. The study utilizes data from the annual and sustainability reports of 20 companies in the basic materials and energy mining sectors listed on the Indonesia Stock Exchange from 2018 to 2022, amounting to 100 observations. The data is processed using SPSS 23. The results show that the presence of female directors significantly enhances the quality of sustainability disclosures, as they tend to prioritize social responsibility. Moreover, financial performance, as measured by Return on Assets (ROA), positively affects sustainability reporting, with companies in better financial health being more transparent in their disclosures. Environmental performance, when combined with strong independent oversight, further improves reporting quality, reflecting the positive influence of independent commissioners and sound financial governance. The study concludes that environmental performance, as measured by the PROPER scale, plays a significant role in improving sustainability disclosures in Indonesia. It recommends that the Indonesian government provide stronger support and clearer regulations to help companies improve their sustainability practices and contribute to the G20 agenda.

Factors Affecting External Audit Fee: A Survey of Mining Sector Companies in Indonesia Nazara, Arizaro; Rusmanto, Toto
Journal of World Science Vol. 1 No. 12 (2022): Journal of World Science
Publisher : Riviera Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58344/jws.v1i12.125

Introduction: This study aims to examine the effect of Profitability, Company Complexity, Audit Committee, Public Accounting Firm Size, Company Risk, and Company Size on External Audit Costs. Method: The samples used in this study were 23 mining companies listed on the Indonesia Stock Exchange (IDX) from 2016 to 2020. The sampling technique used was a purposive sampling method. Secondary data in this study is based on Annual Reports published on the official website of the IDX and the official website of the sample companies. Result: The results of this study indicate that the significance value is 0.000, which means it is smaller than 0.05 (0.000 <0.05), and the calculated F is greater than the F table (16.981> 2.1837), so that it is obtained that simultaneously or together -the same independent variables (profitability, complexity) of the company, audit committee, KAP size, company risk, and company size) have a significant effect on the dependent variable (external audit fees). Conclusion: (1) Profitability has no effect on External Audit Costs, (2) Company complexity has a significant positive effect on External Audit Costs, (3) Audit Committee has no effect on External Audit Costs, (4) Size of the Public Accounting Firm has a significant positive effect. Against External Audit Costs, (5) Company Risk does not affect External Audit Costs, and (6) Company Size has a significant positive effect on External Audit Costs.

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