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The Effect of Board and Ownership Structure on the Possibility of Financial Distress Joanne Jovita Jodjana; Sherin Nathaniel; Rinaningsih Rinaningsih; Titin Pranoto
Journal of Accounting and Investment Vol 22, No 3: September 2021
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Research aims: This study aims to examine the effect of corporate governance, specifically relating to the ownership structure and board structure, on the possibility of financial distress.Design/Methodology/Approach: The sample used in this study are companies listed on the Indonesia Stock Exchange (IDX) from 2015 to 2019, excluding the financial industry. Conditional logistic regression is used as the study uses paired data based on the total assets of the company.Research findings: The results of this study indicate that board ownership, independent commissioners, and the board of directors can increase the likelihood of financial distress. On the other hand, institutional ownership and concentrated ownership are proven to have no effect on the likelihood of financial distress. The results of sensitivity testing using logistic regression showed different results on the variable institutional ownership, which is that institutional ownership can increase the likelihood of financial distress. Meanwhile, the other variables showed the same outcome as the main regression used in this study.Theoretical contribution/Originality: This study contributes to the knowledge on the relationship of board ownership, institutional ownership, concentrated ownership, independent commissioners and board size and the possibility of financial distress. Also, this research found that the provision of incentives in the form of shares to the board may not be an effective way to overcome financial distress in Indonesian firms.

ANALISIS DESAIN SISTEM BIAYA STANDAR: STUDI KASUS PT KW Michael Widyanata; Vikko Agarian; Titin Pranoto; Yang Elvi Adelina
Profita : Komunikasi Ilmiah Akuntansi dan Perpajakan Vol 12, No 2 (2019)
Publisher : Fakultas Ekonomi Dan Bisnis, Universitas Mercu Buana, Jakarta

This study analyzes the calculation of product costs in companies included in the category of MSMEs (Micro, Small and Medium Enterprises) in Indonesia, which is a sand mining companies. This study uses a Cost System Design framework that consist of four aspects, namely quality data, external financial reporting, calculation of product costs, and controls and implementation of strategies that will affect the company’s Cost System Design Stage. This study also uses standard cost and variance to analyze cost control. This qualitative research gathering data by using the triangulation method. The result is the company was in the first phase of the Four Stage Cost System Design. Based on the results, there are differences in production costs that are favorable. In addition, the results of this study also found deficiencies in the company's internal control system. In this study, there are limitations in the form of incomplete data obtained and some data are estimates from management. Research contributes to the results in the form of a calculation framework and design of a cost system for companies that is useful for calculating the cost of goods sold and inventory values that have not been calculated before.

Pengaruh Moderasi Opini Audit terhadap Persistensi Laba Benedicta Anggit Sekartaji; Ghizella Nada Elvina; Titin Pranoto; Yang Elvi Adelina
Studi Akuntansi dan Keuangan Indonesia Vol 2 No 2 (2019): Studi Akuntansi dan Keuangan Indonesia (SAKI)
Publisher : Universitas Prasetiya Mulya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21632/saki.2.2.177-202

This research aims to analyze the effect of last year earnings to current earnings which moderated by audit opinion from listed companies on Indonesia Stock Exchange from 2011-2017. Total sample of this research are from 288 companies, which consist of 2.016 samples, including all of industries except financial industries chosen by purposive sampling method. Model of data analysis for this research uses Driscoll-Kraay method in pooled least square model.The result of this research found that last year earnings have positive significant effect on current earnings. The effect was describe as earnings persistence. Moreover, this research also indicates the effect of last year earnings on current earnings is moderated by audit opinion. Which modified audit opinion is proven to weakens the earnings persistence. The sensitivity test also showed that qualified and disclaimer opinion are proven to weaken earnings persistence. This research uses only one model to measure the earnings persistence. The result on qualified and disclaimer audit opinion is not representative due to less total sample on both audit opinion. Researchers expecting that this research can give a new comprehension for management about earnings persistence and audit opinion, and also can help investor for taking a decision on investment. Keywords: Earnings Quality, Audit Opinion, Earnings Persistence https://doi.org/10.21632/saki.2.2.177-202

Pengaruh Strategi Diversifikasi terhadap Efisiensi pada Perusahaan Manufaktur yang Tercatat di Bursa Efek Indonesia Anthony Halim; Claresta Hartawan Setio; Titin Pranoto; Vania Pradipta Gunawan
Studi Akuntansi dan Keuangan Indonesia Vol 2 No 2 (2019): Studi Akuntansi dan Keuangan Indonesia (SAKI)
Publisher : Universitas Prasetiya Mulya

The purpose of this research is to examine the impact of Related Diversification, Unrelated Diversification and International Diversification on firm’s Efficiency. Related Diversification and Unrelated Diversification were measured using Entropy index, while International Diversification was measured using proportion of export sales over total sales. Efficiency was measured using Data Envelopment Analysis – BCC Model using total assets as input variable and return on asset, return on equity, profit margin, earning per share, market to book value and Tobin’s Q as output variables. This research also uses five control variables which are firm’s size, leverage, firm’s age, liquidity, and exchange rate. This research use manufacture companies listed in Bursa Efek Indonesia in 2013-2016 as research samples. The result of this research show Related Diversification gives negative effect on Efficiency, Unrelated Diversification gives positive effect to Efficiency, and no significant effect from International Diversification to Efficiency. The implication from this research indicates that Unrelated Diversification strategy is better for manufacturing firms in Indonesia and Efficiency will decrease as firm’s size grow. Keywords: Efficiency, International Diversification, Related Diversification, Unrelated Diversification https://doi.org/10.21632/saki.2.2.149-176

Pengaruh Tata Kelola Perusahaan Terhadap Profitabilitas Pada Perusahaan Yang Terdaftar Di Bursa Efek Indonesia Fariz Satriadi; Masyhuril Amri Bagaskara; Titin Pranoto; Luciana Haryono
Studi Akuntansi dan Keuangan Indonesia Vol 1 No 2 (2018): Studi Akuntansi dan Keuangan Indonesia (SAKI)
Publisher : Universitas Prasetiya Mulya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21632/saki.1.2.134-157

This research is aimed to analyze the influence of good corporate governance to company’s profitability. This research is based on the previous research that is done by Zabri, Ahmad and Wah (2016). Aside from board size and independent commissioner’s composition, this research added few variables which are; board meeting, audit committee size and audit committee meeting with firm age and leverage as the control variables. Profitability is measured by return on asset (ROA) and return on equity (ROE). Samples of this study consist of 170 non-financial listed firms from 2012 – 2016. Multiple regressions were used to test the hypotheses. The result of this research has shown that good corporate governance gives a significant influence on the profitability of the companies located in Indonesia. Keywords: Firm age, good corporate governance, leverage, and profitability https://doi.org/10.21632/saki.1.2.134-157

THE EFFECT OF CAPITAL STRUCTURE AND FINANCIAL STRUCTURE ON FIRM PERFORMANCE (An Empirical Study of The Financial Crisis 2008 and 2009 in Indonesia) Ansca, Cressya Cesia; Suyapto, Kevin Agriya; Pranoto, Titin; Gunawan, Vania Pradipta
Jurnal Akuntansi dan Keuangan Indonesia Vol. 16, No. 2
Publisher : UI Scholars Hub

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

This research aims to identify the impact of capital structure on Indonesian firms’ performance, particularly on the magnitude of impact at the period prior to crisis, crisis, and the period following the crisis that happened in 2008. The Global Financial Crisis grants a chance to scrutinize the impact of crisis between capital structure and firm performance. Proxies used for capital structure are total debt to total assets, short-term debt to total assets, and long-term debt to total assets ratio. Moreover, firm performance is measured by accounting performance (Return on Asset and Return on Equity) and market performance (Price to Equity Ratio and Tobin’s Q). Samples used include all firms listed in Indonesia Stock Exchange (IDX) from the period 2004 up to 2017, excluding financial sector firms. This research posits that capital structure generally impacts firm performance negatively. The Global Financial Crisis (GFC) that happened in 2008 serves a greater negative impact of capital structure to firm performance than it is before and after crisis. This research is intended for use by firms as a perusal in managing its capital structure, for creditors in managing its lending, and for investors in investing, prominently in times of financial crisis.

Pendampingan Manajemen Bisnis untuk Usaha Mikro Kecil dan Menengah Keripik Pisang Banana Bobs Aldo Koesurya; Ardyanto Kang; Bill Angelo; Clara Monica Rahardja; Felicia; Lisa Carissa; Octavius William; Titin Pranoto
Rahmatan Lil 'Alamin Journal of Community Services Volume 3 Issue 1, 2023
Publisher : Department of Accounting, Faculty of Business and Economics, Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/RLA.Vol3.iss1.art7

This community service activity (PKM) is a business management mentorship that aims to increase efficiency and effectiveness in the productivity of the selected partner business, namely Banana Bobs. Banana Bobs' product is banana chips, and has great potential because it is in the tourist area. Business management mentoring consists of identifying problems and offering solutions to Banana Bobs in terms of operations, marketing, human resources and finance. The methods used in this activity include field observations, interviews, training, and practicing directly with Banana Bobs' partners. This PKM activity contributes to Banana Bobs to increase competitiveness in competition with other micro, small, and medium enterprises (MSMEs) so that it can grow rapidly and become a product that is well recognized by the public in Indonesia.

Do Family and Institutional Ownerships Influence the Corporate Dividend Policy? Santoso, Christheana; Salim, Richenda Feily; Pranoto, Titin; Adelina, Yang Elvi
EQUITY Vol 24 No 1 (2021): EQUITY
Publisher : Department of Accounting, Faculty of Economics and Business, Universitas Pembangunan Nasional Veteran Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.34209/equ.v24i1.2292

The difference of interests among shareholders in the middle of ownership structure that is dominated by majority shareholders enlarges the possibility of deprivation towards the minority shareholders' rights. Therefore, a dividend is considered as a tool to reduce conflict of interests between both parties with the assurance of pro-rata distribution of the company's resources. Family and institutional ownerships have unique characteristics that are frequently found in Indonesian firms. Thus, this study intended to analyze the impact of majority ownership owned by family and institution to dividend policy in nonfinancial firms listed in Bursa Efek Indonesia (BEI) during 2013-2017. The samples are chosen with the purposive sampling method resulting in 373 firms and 1.484 observations obtained. The data used in this study was secondary data from firms' annual and financial reports along with data extracted from Capital IQ. According to the regression results using the fixed-effect model, this study confirms the negative impact of majority ownership owned by families towards firms' dividend policy. Whilst, majority ownership owned by institutions shows that it has no significant impact on dividend policy. Otherwise, profitability, size, and leverages are proven to impact firms’ dividend policy. However, growth indicates no significant impact.

Do Family and Institutional Ownerships Influence the Corporate Dividend Policy? Santoso, Christheana; Salim, Richenda Feily; Pranoto, Titin; Adelina, Yang Elvi
EQUITY Vol 24 No 1 (2021): EQUITY
Publisher : Department of Accounting, Faculty of Economics and Business, Universitas Pembangunan Nasional Veteran Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.34209/equ.v24i1.2292

The difference of interests among shareholders in the middle of ownership structure that is dominated by majority shareholders enlarges the possibility of deprivation towards the minority shareholders' rights. Therefore, a dividend is considered as a tool to reduce conflict of interests between both parties with the assurance of pro-rata distribution of the company's resources. Family and institutional ownerships have unique characteristics that are frequently found in Indonesian firms. Thus, this study intended to analyze the impact of majority ownership owned by family and institution to dividend policy in nonfinancial firms listed in Bursa Efek Indonesia (BEI) during 2013-2017. The samples are chosen with the purposive sampling method resulting in 373 firms and 1.484 observations obtained. The data used in this study was secondary data from firms' annual and financial reports along with data extracted from Capital IQ. According to the regression results using the fixed-effect model, this study confirms the negative impact of majority ownership owned by families towards firms' dividend policy. Whilst, majority ownership owned by institutions shows that it has no significant impact on dividend policy. Otherwise, profitability, size, and leverages are proven to impact firms’ dividend policy. However, growth indicates no significant impact.

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