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Pengaruh Penerapan Corporate Governance Terhadap Kondisi Kesulitan Keuangan Stephanus Andi Adityaputra
Ultima Accounting : Jurnal Ilmu Akuntansi Vol 9 No 2 (2017): Ultima Accounting : Jurnal Ilmu Akuntansi
Publisher : Universitas Multimedia Nusantara

This study examined the effect ofthe implementation of corporate governance on the condition of the financial distress of manufacturing companies listed on the Indonesia Stock Exchange (IDX). The implementation of corporate governance proxied with the proportion of managerial ownership, proportion of institutional ownership, number of the boards of directors, proportion of independent commissioners, and existence of the audit committee. Samples used in this study was manufacturing companies listed on the Indonesia Stock Exchange (IDX) with 2012 up to 2016 as an observation period. The total study samples was 48 firms with 96 firm year are determined by the method of purposive sampling. This study used Logistic Regression to examine the effect of the implementation of corporate governance of the condition of the company's financial distress. The results of this study indicated that The number of the boards of directors and the proportion of independent commissioners variables were not proven to have significant influence on the condition of the company's financial distress. The proportion of managerial ownership, the proportion of institutional ownership, and the existence of the audit committee variables proved to have a significant influence on the condition of the company's financial distress with a positive influence. Keywords: board of directors, independent commissioners, managerial ownership, institutional ownership, audit committee, financial distress, logistic regression

DETERMINAN NILAI PERUSAHAAN PUBLIK MANUFAKTUR SEKTOR INDUSTRI BARANG KONSUMSI 2015-2019 Stephanus Andi Adityaputra; Stefanus Ariyanto
Ultima Accounting : Jurnal Ilmu Akuntansi Vol 12 No 2 (2020): Ultima Accounting : Jurnal Ilmu Akuntansi
Publisher : Universitas Multimedia Nusantara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31937/akuntansi.v12i2.1882

This research examines several determinants that may have effect to firm value of the consumer goods manufacturing sector in Indonesia in 2015-2018, proxied with Price to Book Value (PBV). The factors that are thought to to have effect against firm value are Price Earning Ratio (PER) which shows potential future profits and investment choices, financial leverage (DER) which reflects the comparison between source of firm’s funding, Dividend Payout Ratio (DPR) which is a factor that attracts investor interest, and Return on Equity (ROE) which reflects the ability of the firm to generate net income from its equity. This research is important because firm value is a reflection of the shareholder’s welfare. The study reveals that DER negatively and significantly influence the PBV, as well as significant effect of all other independent variables simultaneously on PBV. Keywords: Firm Value, financial leverage, Dividend Payout Ratio, Price Earning Ratio, Return On Equity.

PENGUJIAN MEKANISME CORPORATE GOVERNANCE TERHADAP FINANCIAL DISTRESS: MANAJEMEN LABA SEBAGAI VARIABEL MODERASI Stephanus Andi Adityaputra
JIAFE (Jurnal Ilmiah Akuntansi Fakultas Ekonomi) Vol 8, No 1 (2022): Vol 8, No. 1 (2022)
Publisher : Universitas Pakuan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.34204/jiafe.v8i1.4937

ABSTRAKTujuan penelitian ini adalah untuk menguji pengaruh mekanisme corporate governance terhadap financial distress dengan manajemen laba sebagai variabel moderasi. Populasi yang digunakan terdiri dari perusahaan di sektor infrastruktur, utilitas, dan transportasi yang terdaftar di Bursa Efek Indonesia tahun 2018–2020. Penelitian ini menggunakan studi kausalitas dengan purposive sampling dan dianalisis dengan regresi logistik. Hasil penelitian ini menunjukkan bahwa kepemilikan institusional berpengaruh negatif signifikan terhadap financial distress, sementara komite audit tidak perpengaruh terhadap financial distress. Manajemen laba sebagai variabel moderasi memperlemah hubungan kepemilikan institusional terhadap financial distress namun tidak signifkan. Sementara, manajemen laba memperkuat hubungan komite audit terhadap financial distress namun tidak signifikan. Implikasi atas penelitian ini adalah perusahaan perlu meningkatkan peran dan fungsi pengawasan dan komite audit untuk meminimalisir risiko terjadinya financial distress. Walaupun manajemen laba tidak mampu memoderasi kepemilikan institusional dan komite audit, perusahaan tetap perlu meningkatkan pengawasan terutama terhadap proses pelaporan keuangan agar terhindar dari risiko terjadinya financial distress.ABSTRACTThe purpose of this study was to examine the effect of corporate governance mechanisms on financial distress with earnings management as a moderating variable. The population used consists of companies in the infrastructure, utility, and transportation sectors listed on the Indonesia Stock Exchange in 2018 – 2020. This study uses a causality study with purposive sampling and analyzed by logistic regression. The results of this study indicate that institutional ownership has a significant negative effect on financial distress, while the audit committee has no effect on financial distress. Earnings management as a moderating variable weakens the relationship between institutional ownership and financial distress but is not significant. Meanwhile, earnings management strengthens the relationship of the audit committee to financial distress but is not significant. The implication of this research is that companies need to increase the role and function of supervision and audit committees to minimize the risk of financial distress. Although earnings management is not able to moderate institutional ownership and audit committees, companies still need to improve supervision, especially on the financial reporting process to avoid the risk of financial distress.

Evaluasi Kinerja Perbankan Indonesia Pasca Pandemi Covid-19 Menggunakan Metode Hellwig Djaja Perdana; Stephanus Andi Adityaputra
Wahana: Jurnal Ekonomi, Manajemen dan Akuntansi Vol 26, No 2 (2023)
Publisher : Akademi Akuntansi YKPN Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35591/wahana.v26i2.851

The increase in non-performing loans during the Covid-19 pandemic forced the government to establish a credit restructuring policy for banks in Indonesia. Through this policy, it is expected that banks in Indonesia will be able to reduce the credit risk that arises and improve their financial performance. This study aims to evaluate the effectiveness of credit restructuring policies on the financial performance of Indonesian banks by measuring the variability of performance scores between banks with a multi-criteria decision-making (MCDM) approach using the Hellwig method and a comparison test between periods using the Wilcoxon Signed Rank Test. This research sample consists of 43 banks listed on the Indonesia Stock Exchange during 2020-2022. Evaluation using the Hellwig method obtained the score and performance ranking of each bank which was grouped into 5 categories, from very low to very high. in 2022, BACA and BEKS have very low scores and rankings. While BBSI and ARTO have very high scores and rankings. The comparative test results prove that the financial performance of Indonesian banks in 2022 is higher than in 2020 and 2021. The restructuring policy is proven to be able to improve banks performance in Indonesia and the effectiveness of the policy has reached its highest achievement in 3rd year since it was implemented.

PENGARUH STRUKTUR MODAL DAN UKURAN PERUSAHAAN TERHADAP NILAI PERUSAHAAN DENGAN PROFITABILITAS SEBAGAI VARIABEL MEDIASI Stephanus Andi Adityaputra; Djaja Perdana
Jesya (Jurnal Ekonomi dan Ekonomi Syariah) Vol 7 No 1 (2024): Article Research Volume 7 Number 1, January 2024
Publisher : LPPM Sekolah Tinggi Ilmu Ekonomi Al-Washliyah Sibolga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36778/jesya.v7i1.1404

Tujuan penelitian ini adalah untuk mengetahui pengaruh struktur modal dan ukuran perusahaan terhadap nilai perusahaan dengan profitabilitas sebagai variabel intervening pada perusahaan yang terdaftar di Bursa Efek Indonesia periode 2018-2022. Populasi penelitian ini adalah perusahaan di sektor konstruksi yang terdaftar di Bursa Efek Indonesia pada tahun 2018-2022. Cara penentuan sampel dengan metode purposive sampling dengan beberapa kriteria yang telah ditentukan. Teknik analisis data yang digunakan dalam penelitian ini adalah analisis regresi linier berganda menggunakan SPSS Versi 25 dan analisis jalur. Hasil penelitian ini menunjukkan bahwa Struktur modal berpengaruh negatif dan signifikan terhadap profitabilitas, Ukuran perusahaan berpengaruh positif namun tidak signifikan terhadap nilai profitabilitas, Struktur modal berpengaruh positif dan signifikan terhadap nilai perusahaan, Ukuran perusahaan berpengaruh negatif dan signifikan terhadap nilai perusahaan, Profitabilitas berpengaruh positif dan signifikan terhadap nilai perusahaan, rofitabilitas tidak memediasi antara struktur modal dan nilai perusahaan, dan Profitabilitas mampu memediasi antara ukuran perusahaan dan nilai perusahaan.

PENGUJIAN PENGARUH KEPEMILIKAN MANAJERIAL DAN KEPEMILIKAN INSTITUSIONAL TERHADAP MANAJEMEN LABA DENGAN PROFITABILITAS SEBAGAI VARIABEL PEMODERASI Stephanus Andi Adityaputra
Jurnal Akuntansi dan Pajak Vol 23, No 2 (2023): JAP : Vol. 23, No. 2, Agustus 2022 - Januari 2023
Publisher : ITB AAS INDONESIA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29040/jap.v23i2.7772

Profit becomes the target for earnings management. This happens because management has more information than shareholders. One of the earnings management cases in Indonesia occurred at PT Garuda Indonesia (Persero) Tbk in 2018. Therefore, a good corporate governance mechanism needs to be implemented to minimize earnings management. The purpose of this study is to examine and identify the effect of managerial ownership and institutional ownership on earnings management. The research sample was taken using a purposive sampling technique so that a total of 66 samples were obtained from infrastructure, utility and transportation sector companies listed on the Indonesia Stock Exchange during 2018 – 2021 after removing outlier data. Research data were analyzed using Moderated Regression Analysis (MRA) with IBM SPSS Statistics 25 software. The results of this study indicate that managerial ownership has a negative effect on earnings management, while institutional ownership has no effect on earnings management. In addition, profitability in this study was not able to moderate the effect of managerial ownership and institutional ownership on earnings management.

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