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Analisis Pengaruh Struktur Modal Terhadap Praktik Manajemen Laba ines devina; Sandy Harianto; Johan Yanto
Studi Akuntansi dan Keuangan Indonesia Vol 2 No 1 (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.2.1.124-148

The research objective is to analyze the influence of capital structure on earnings management practices. The research using multiple regressions examined 192 non-financial companies listed on Indonesia Stock Exchange from 2005 to 2014 period. The proxies of capital structure are debt-to-equity ratio and debt-to-asset ratio, while earnings management calculated through discretionary accruals from Jones, Modified Jones, cross-sectional industrial models. The results showed that there is a negative significant influence from firm’s capital structure to earnings management (α <0.05). This indicates that higher use of debt would increase the difficulties of debt covenant performance requirements; hence it increases the degree of control over the company, leaving less opportunity for earnings management.

The Impact of Corporate Governance Quality on Principal-Agent and Principal-Principal Conflict in Indonesia Sandra Salim; Jessica Lioe; Sandy Harianto; Yang Elvi Adelina
Jurnal Akuntansi dan Keuangan Vol. 24 No. 2 (2022): NOVEMBER 2022
Publisher : Institute of Research and Community Outreach - Petra Christian University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.9744/jak.24.2.91-105

This study analyzes the effect of corporate governance (CG) quality on principal-agent (PA) and principal-principal (PP) conflict in Indonesia while also controlling for potential endogeneity through the use of two-stage least squares (2SLS) regression. The results for PA conflict (measured by operating expense ratio and asset utilization ratio) are consistent with the notion that better CG quality leads to a lower level of PA conflict. However, the result for PP conflict is inconclusive. While a higher CG quality is positively related to a higher dividend payout ratio, which indicates a lower PP conflict level, CG quality does not have any significant effect on wedge (difference between cash flow and control right). Moreover, further robustness tests showed that different aspects of CG have different effects on PA and PP conflict. Better CSR has a significant effect on reducing PA and PP conflict. Meanwhile, asset utilization ratio and dividend payout ratio increase due to board efficiency, internal control management, and board remuneration. Furthermore, better internal control management also leads to a lower operating expense ratio, while board remuneration reduces wedge. Interestingly, we find no significant relationship between shareholders' relation and all PA and PP conflict measures.

Tata Kelola, Kepemilikan Keluarga, Auditor Berkualitas, dan Manajemen Laba Daniel Daniel; Sandy Harianto
Studi Akuntansi dan Keuangan Indonesia Vol 5 No 1 (2022): Studi Akuntansi dan Keuangan Indonesia (SAKI)
Publisher : Universitas Prasetiya Mulya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21632/saki.5.1.1-37

This paper examines the relationship between corporate governance quality, family ownership, auditor quality, towards accrual and real earnings management activities among publicly listed firms in Indonesia. Using non-financial industry sector listed firms for the period of 2010-2019, we empirically demonstrate that firms with higher corporate governance quality have lower levels of both real and accruals earnings management activities. Furthermore, there is evidence that a higher level of family ownership is related to a lower level of real earnings management activities but has no significant effect on accrual earnings management activities. Meanwhile, the appointment of the big four public accounting firms has a lower level of accruals earnings management activities but no significant effect on real earnings management activities. Only a firm with high corporate governance quality and a qualified auditor significantly decreases real and accrual earnings management. Furthermore, there is evidence that the mitigating effect of higher corporate governance quality in reducing earnings management activities is more pronounced for family firms. The empirical findings seemed to suggest that family firms in Indonesia want to protect their interests by reducing the potentially harmful real earnings management activities.

Political Connections Impact on Corporate Governance Quality Sandy Harianto
Studi Akuntansi dan Keuangan Indonesia Vol 5 No 2 (2022): Studi Akuntansi dan Keuangan Indonesia (SAKI)
Publisher : Universitas Prasetiya Mulya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21632/saki.5.2.190-218

The paper explores political connections impact on corporate governance quality in Indonesia. Using data from publicly listed firms in Indonesia stock exchange for the 2010-2019 period, this study find that politically connected firms are actually having better corporate governance quality than their counterparts. The significant development on corporate governance system implementation and changes in political system may influence the political connections impact on corporate governance quality. Additionally, the findings also indicates that the political connections improve board efficiency, risk management and stakeholders relationship. The findings from this study is markedly dissimilar from previous studies that emphasize on the rent-seeking nature of political connectedness. Institutional setting changes such as the changes in political system and coporate governance system may changes the nature of politically connected firms to become more responsible. The results maybe of interests for regulators of emerging countries around the world and shed a new paradigm on political connectedness. The findings of the papers indicates that the design of regulatory frameworks and policies should consider the potential positive effects of political connections, rather than simply focusing on potential drawbacks. The results indicate that promoting political connections that are accountable and transparent can be beneficial for the investment environment.

Political Connection, Auditor Quality, Family Ownership, and Earnings Management: Real and Accrual Harianto, Sandy
Journal of Economics, Business, and Accountancy Ventura Vol. 25 No. 2 (2022): August - November 2022
Publisher : Universitas Hayam Wuruk Perbanas

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14414/jebav.v25i2.3012

This study aims to explore the effect of political connections, external auditor quality, and family ownership on real and discretionary accrual earnings management practices in public companies in Indonesia. So far, previous studies have shown inconclusive and mixed results. The samples used in this study are companies listed on the Indonesia Stock Exchange (IDX) for the last 10 years (2010-2019) prior to the Covid-19 pandemic. The results of this study show that political connections have an effect on reducing both real and discretionary accrual earnings management practices in public companies. High quality external auditors have a significant effect on reducing discretionary accrual earnings management practices only. Meanwhile, the high level of family ownership has an effect on reducing real earnings management practices. The results of this study can be a consideration for public companies to appoint former ministers or high-ranking state officials as company directors or commissioners to suppress earnings management practices.

The Effect of Enterprise Risk Management (ERM) on the Soundness of Banking Companies in Indonesia Handrawan, Merril Medelin; Rambe, Nadia Virginia; Harianto, Sandy; Wong, Daniel
Studi Akuntansi dan Keuangan Indonesia Vol 7 No 1 (2024): Studi Akuntansi dan Keuangan Indonesia (SAKI)
Publisher : Universitas Prasetiya Mulya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21632/saki.7.1.51-76

This study examines whether ERM implementation is related to bank performance in Indonesian public banks. Using a sample of 32 public banks for the period of 2017-2021, this study found that ERM implementation are positively and significantly related to overall bank performance, as measured using CAMELS ratio. The results of this study support the argument using signalling and stakeholder theory, which states that banks show their commitment to the risk management process to their stakeholders through disclosure, so as to gain and maintain the trust of stakeholders, which can be reflected in bank performance. This study also found that some bank characteristics, namely age, leverage and share price volatility, have a negative and significant influence on bank performance. Furthermore, as an additional test, this study also found that there is a positive and significant effect of ERM implementation on bank performance during the Covid-19 pandemic period. Lastly, through sub-index analysis this study identifies that better risk organization has a positive and significant influence on bank performance.

Political Connection, Auditor Quality, Family Ownership, and Earnings Management: Real and Accrual Harianto, Sandy
Journal of Economics, Business, and Accountancy Ventura Vol. 25 No. 2 (2022): August - November 2022
Publisher : Universitas Hayam Wuruk Perbanas

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14414/jebav.v25i2.3012

This study aims to explore the effect of political connections, external auditor quality, and family ownership on real and discretionary accrual earnings management practices in public companies in Indonesia. So far, previous studies have shown inconclusive and mixed results. The samples used in this study are companies listed on the Indonesia Stock Exchange (IDX) for the last 10 years (2010-2019) prior to the Covid-19 pandemic. The results of this study show that political connections have an effect on reducing both real and discretionary accrual earnings management practices in public companies. High quality external auditors have a significant effect on reducing discretionary accrual earnings management practices only. Meanwhile, the high level of family ownership has an effect on reducing real earnings management practices. The results of this study can be a consideration for public companies to appoint former ministers or high-ranking state officials as company directors or commissioners to suppress earnings management practices.

The Relationship Between Political Connections and Corporate Governance Quality: Evidence from Indonesia Harianto, Sandy
Jurnal Profita: Komunikasi Ilmiah Akuntansi dan Perpajakan Vol 16, No 1 (2023)
Publisher : Fakultas Ekonomi Dan Bisnis, Universitas Mercu Buana, Jakarta

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

In this study, the author investigates the relationship between political connections and corporate governance quality in Indonesia, a developing country that experience significant improvement of corporate governance implementations and the nature of political connectedness to provide evidence to support the stewardship theory (complementary relationship). Using hand-picked data from Indonesian listed firms between 2010-2015 period, the author find that politically connected firms have better corporate governance quality, measured by corporate governance index and disclosure index, than non-connected firms. Additionally, the author also find that the positive effect of political connections will be strengthened in the presence of a stronger/more independent board composition. The results of this study will be useful to government and regulators promoting the benefits of good corporate governance system. In particular, the results suggest that the nature of political connections can change from rent-seeking opportunistic behaviour (agency theory) to accountable behaviour (stewardship theory), even in an emerging country with the presence of large dominant shareholders such as Indonesia, depending on several factors in the institutional setting.

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