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All Journal Jurnal Reviu Akuntansi dan Keuangan Media Ekonomi dan Manajemen Manajemen Krida Wacana Inovasi : Jurnal Ekonomi, Keuangan, dan Manajemen Jurnal ASET (Akuntansi Riset) The Accounting Journal of Binaniaga International Journal of Supply Chain Management Jurnal Manajemen Strategi dan Aplikasi Bisnis Indonesian Journal of Accounting and Governance Journal of Research in Business, Economics, and Education AJAR (Asian Journal of Accounting Research) (e-Journal) Management Research Studies Journal

Muljanto Siladjaja

Universitas Dirgantara Marsekal Suryadarma

Author-ID : 7186400

Humanities Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Engineering Environmental Science Industrial & Manufacturing Engineering Social Sciences Transportation Other

Published : 23 Documents Claim Missing Document

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Articles

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The impact of earning management on market earnings value: the causal study on the level of accruals Muljanto Siladjaja; Yuli Anwar
The Accounting Journal of Binaniaga Vol 4, No 2 (2019): December 2019
Publisher : STIE Binaniaga

The purpose of this research is to test investors capability to detect earning management after the period of publication, when the information from financial report plays critical role in investment’s decision. Given the feedback of investor’s reaction, this research provides an empirical model, that point out the earnings management as a message or signal of firm performance, particularly of negative perception on accruals’s opportunisties. This research uses path model analysis and multivariate regression, where the data have been collected from 2.560 observations. The unit of analysis of this research was all the listed companies in the period 20012017. The method of sampling was purposive sampling, which based on annual financial report. The findings of this research showed that all public firms have systematic method for earnings management, by distinguishing the positive and negative accruals, the discretionary accruals have the negative influence on the market value significantly, when we used the earning market ratio. When financial report had high accruals quality, it had positive perception from investors, while estimating the future prospect with high accuracy by obtaining usefulness of financial report. The indicator of earnings management, and working capital had been sensitive for investors, because of accruals in reporting firm’s performance. Keywords: Discretionary Accruals, Working Capital, Dividend Pay Out, Quality of Accruals, Cost of Capital.

The Mapping Of Investor Perception On The High Financial Reporting Quality Muljanto Siladjaja; Yuli Anwar
The Accounting Journal of Binaniaga Vol 6, No 1 (2021): June 2021
Publisher : STIE Binaniaga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33062/ajb.v6i1.412

This research mapped investor perception on high accounting information quality, particularly the accurate prediction model for future returns. The high financial reporting quality indicates the company's prospective improvement in the future under the right management. This positively affects market price fluctuation, where the investor has minimum distortion on accounting information and low risk. The obedience to accounting standards and tax regulation illustrates actual earnings in reducing agency cost's volatile movement. This study used questionnaires to gather information. The respondents were related parties with dominant influence in investment, specifically 384 samples. Through the structural equation model, the mapping of earnings quality, future market value, and dividend policy played a critical role in minimizing misleading information and improving accounting information quality. The high financial reporting quality indicates the managements' obedience in maximum implementation of regulations with continuous improvements. In this regard, the dividend policy has significantly contributed to the improvement of the earnings quality. The Decision Tree Model was used in mapping investor perception on earnings quality to estimate the high probability of a long or short position for their maximum utility. When the dividend policy is used as a mandatory indirect obligation, the management should provide high accounting information quality.

The Impact of Supply Chain Strategy on Real Earnings Quality and Market Added Value Muljanto Siladjaja; Markonah Markonah
International Journal of Supply Chain Management Vol 9, No 3 (2020): International Journal of Supply Chain Management (IJSCM)
Publisher : International Journal of Supply Chain Management

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (494.752 KB)

Abstract The previous researches concluded that, the investor had to pressure on management for improving the earning quality, because it related with predicting the future prospect with high accuracy. This paper presents the impact of applying the supply chain management on the cost management to optimize productivity and decreasing cost which will have a direct impact on the earnings. The supply chain policy has advantages in reducing out the cost of capital, so that this policy could be used as a moderated variables. This research used the moderated multiple regression by collecting all data on the listed company in industry manufacturing from 2015-2017. In calculating the market value, this research used the Model H (Two Stages Model of Growth) in predicting the estimated price, which had fulfilled the minimum tracking signals criteria. The statistical testing shown out the supply chain have the positive impact on real earnings quality and market added value, where the higher earnings quality have made the investors decision in estimating the future prospect precisely. The supply chain policy played a critical role in reducing out the pattern of opportunistic behavior, when is a pressure on management in having proclivity to improve the earnings quality. This empirical testing had pointed out that publication financial earnings had been implication of game theory. To support the game theory in publication financial performance, this research had provided a novelty in estimating investor s action by providing out the schema of investors perception and accounting information. The supply chain policy had proclivity to give a push on supply chain management in implementing earning management, because management effort in disseminate the positive signal.

Supply Chain and Cost Management for Economic Sustainability of Future Market Muljanto Siladjaja; Indra Siswanti; Hosam Alden Riyadh
International Journal of Supply Chain Management Vol 9, No 3 (2020): International Journal of Supply Chain Management (IJSCM)
Publisher : International Journal of Supply Chain Management

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (423.165 KB)

Abstract— This paper presents the impact of applying the supply chain management (SCM) on the earning field to optimize productivity and decreasing cost which will have a direct impact on the income in the market. By developing out the measurement of future prospect, this research have used the future market value as a new indicator, where the accounting information have a significant effect on an investment decision. This moderated multiple regression has used the dividend policy, where played a critical role in signaling communication. Thus, the causal research have the samples, that ammounted 154 the listed companies in the industrial manufacturing sector for the period 2015 until 2017. The result indicated that supply chain system has specified the SCM with cost prediction and given a practical guideline for the investor to estimate the future return with high accuracy. This dividend policy has minimized the pattern of opportunistic behavior in providing a misleading bias in the performance reporting when the dividend has strengthened the SCM positively on the future market value. By developing a a mapping with the decision model, that combined with Bayes Theorem, empirical research provides a brief illustration, pointed out the high quality financial statements have the implication of the game theory. This research recommended that this dividend policy can be used as a mandatory obligation, and the regulators must issue public policies. These findings offer new insights into the benefits and uses of power in supply chain relationships, in a previously unexplored context.

The Positive Investor Perception On Earnings Quality And Tax Management Muljanto Siladjaja
Jurnal ASET (Akuntansi Riset) Vol 13, No 2 (2021): JURNAL ASET (AKUNTANSI RISET) JULI-DESEMBER 2021
Publisher : Universitas Pendidikan Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17509/jaset.v13i2.26402

Empirically, high earnings quality positively influences market price movement. This is because it serves as a brief management guideline for implementing accounting standards and tax regulations for continuous meaningful improvement. This research tests investor’s perception of high earnings quality and tax management for a better prospect as indicated by future market value. An analysis of future return and dividend payout shows that the firm is currently on the right track, which significantly impacts the risk and agency fluctuation in the following period. This study used questionnaires to gather information from 384 respondents, including related parties with a dominant influence on the investment decision. Through structural equitation modeling, unobserved variables included earnings quality, tax management, and future market value, including dividend policy. The observed variable was the push for increasing the accounting information quality. The high earnings quality indicates management's obedience in implementing all available regulations, both accounting standard and tax regulation. The dividend policy, related to earnings quality and tax management, positively contributes to a high financial reporting quality. Concerning Decision Tree Model and Bayes Theorem, the high accounting information quality is an application of game theory, including estimating the probability of long or short positions. As a mandatory obligation, the dividend policy is used to pressure the management to provide high-quality accounting information.

Pemodelan Tingkat Kepatuhan Standard Akuntansi dan Kebijakan Dividen Muljanto Siladjaja
Jurnal Manajemen Strategi dan Aplikasi Bisnis Vol 4 No 1 (2021)
Publisher : Lembaga Pengembangan Manajemen dan Publikasi Imperium

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

This study aims to examine the level of management compliance with accounting standards in carrying out the publication of financial reports. By modifying the innate accruals quality on future performance. The research presents an interactive model between earnings quality and future performance, especially predictions with a high degree of accuracy. The phenomenon that occurs is that many companies use dividend policies with high yields, so researchers are interested in using dividend policies as a moderating variable. This study uses a multiple regression model with moderation through data collection of companies in the manufacturing industry for the period 2015 and 2017. This study provides a mapping between investor perceptions and earnings quality through the Game Theory approach and Bayes Theorem in predicting investment decisions. Regulators must establish a dividend policy as a management requirement when there are positive earnings. The implication of a high yield dividend policy reduces the intensity level of internal conflicts and helps management to obtain a low cost of capital so that there are better prospects for the future.

Pemetaan Total Perilaku Opportunistic Terhadap Future Market Performance Studi Kasus Dampak Kebijakan Dividen Pada Kualitas Laba Muljanto Siladjaja
Journal of Research in Business, Economics, and Education Vol. 2 No. 6 (2020): December Edition
Publisher : Kusuma Negara Business School

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

This empirical research has tested how the investor had detected the opportunistic behaviour in publishing the accounting information by indicating the earnings quality. The investor take a strong pressure on the management to obtain the high obedience on the accounting standard, because of predicting the future performance precisely. This research found one phenomenon about dividend policy in Indonesia company because it had been reduced the level of internal conflict. The dividend policy had been capable of attaining the higher shareholders involvement, indirectly obtained the higher accruals quality. This research tested on how the accruals quality and tax management influences in the investor’s perception in the future, that measured by future market value. The observation data had used the samples on the listed company in industry manufacturing sector for period 2015 until 2017, that categorized as LQ 45. The samples have amounted 250 observation in testing on the multiple regression model, which used the discretionary accruals quality and future market value. This empirical research has pointed out that the accruals quality has a positive influence on future market value, the higher of accruals quality value indicates the higher future market value. This moderation have pointed out the accruals quality has the positive impact on the future market value and played a critical role as informal communication in disseminating “the good sign” about the future prospect. The dividend policy has not moderated the tax management on the future market value. By developing out the Decision Tree Model with Teorema Bayes, the interactive feedback between the investor and the management by analyzing the accounting information, this is purely a implication of game theory. The high yielded dividend is obstacle for management, because of the cash flow operation’s liquidity performance, the update regulation should force the management on implementing the policy regularly and permanently.

THE ACCRUALS QUALITY AND THE ESTIMATED FUTURE PERFORMANCE Muljanto Siladjaja
Management Research Studies Journal Vol. 1 No. 1 (2020): Management Research Studies Journal
Publisher : Perbanas Institute

This previous empirical research has shown out, that the usage of accruals had the contribution negatively on investor’s perception, this current research has shown that the discretionary accruals quality had a positive contribution, which paves the way for investors to predict the future performance by concerning on the effect of dividend’s phenomenon. By developing out the measurement of the future prospect, this research has used the future market value as a new indicator, where the accounting information has a significant effect on an investment decision. This moderated multiple regression has used the dividend policy, where played a critical role in signaling communication, Thus, The causal research has the samples, that amounted 154 of the listed companies in the industrial manufacturing sector for the period 2015 until 2017. The result indicated that the discretionary accruals quality had given a practical guideline for the investor to estimate the future return with high accuracy. This dividend policy has minimized the pattern of opportunistic behavior in providing a misleading bias in the performance reporting when the dividend has strengthened the discretionary accruals quality positively on the future market value. By developing a mapping with the decision model, combined with Bayes Theorema, empirical research provides a brief illustration, pointed out the high financial statements quality implies the game theory. This research recommended that this dividend policy can be used as a mandatory obligation, and the regulators must issue public policies, which provide a push to management in implementing high accounting information quality.

THE IMPACT OF REAL EARNINGS QUALITY ON THE FUTURE MARKET VALUE BY MODERATED BY THE DIVIDEND POLICY Markonah Markonah; Muljanto Siladjaja; Nicodemus Simu
Management Research Studies Journal Vol. 1 No. 1 (2020): Management Research Studies Journal
Publisher : Perbanas Institute

The previous researches concluded that, the investor had to pressure on management for improving the earning quality, because it related with predicting the future prospect with high accuracy. Developing out the new proxy for financial reporting quality, this empirical testing modified the real earnings quality. The dividend policy has advantages in reducing out the cost of capital, so that this policy could be used as a moderated variables. This research used the moderated multiple regression by collecting all data on the listed company in industry manufacturing from 2015-2017. In calculating the future market value, this research used the Model H (Two Stages Model of Growth) in predicting the estimated price, which had fullfilled the minimum tracking signals criteria. The statistical testing shown out the real earnings quality have the positive impact on future market value, where the higher earnings quality have made the investors decision in estimating the future prospect precisely. The dividend policy played a critical role in reducing out the pattern of opportunistics behaviour, when is a pressure on management in having proclivity to improve the earnings quality. This empirical testing had pointed out that publication financial earnings had been implication of game theory. To support the game theory in publication financial performance, this research had provided a novelty in estimating investor s action by providing out the schema of investors perception and accounting information. The dividend policy had proclivity to give a push on management in implementing earning management, because managements effort in dissemating the positive signal.

THE INFLUENCES OF ACCRUALS QUALITY AND TAX MANAGEMENT ON THE FUTURE MARKET VALUE: CASE STUDY OF THE LISTED FIRM ON INDUSTRY MANUFACTURING SECTORS Muljanto Siladjaja; Indra Siswanti; Syafrida Hafni Sahir
Management Research Studies Journal Vol. 2 No. 1 (2021): Management Research Studies Journal
Publisher : Perbanas Institute

This empirical research has proven that the investor insisted on the management to level up the earnings quality constantly, there is no tolerance for any distortion, including the negative effect of opportunistic accruals. The high earning quality paves out the way for the investor to calculate the future return accurately, by minimizing the volatile movement of market price and agency cost. This research tested how the accruals quality and tax management influences the investor’s perception in the future, that measured by future market value. The observation data had used the samples on the listed company in the industrial manufacturing sector for the period 2015 until 2017, which had amounted to 384 observation data. This multiple regression model with data panel has used the discretionary accruals quality, tax management, and future market value, the result is the earnings quality has a positive influence on the future market value significantly. The management should carry out consistently all available tax accounting standards and tax regulations at the maximum level without any infringement, this one is related to deduct the risk. It is an implication of the Signalling and Regulation Theory. The investor has realized the gap between the accounting standard and tax regulation intolerance zone, absolutely it has no crucial impact on the volatile movement of the market price. Primarily they concern about the high book and tax accruals, meanwhile ignoring both positive or negative. Principally, the high-quality accounting information has a contribution to predicting the better-expected return accurately in the future period, this is aimed to protect the investment in the high safety area.

Co-Authors Hosam Alden Riyadh A.Alazeez Markonah, Markonah Nicodemus Simu Pamela Magdalena Suryawan Siladjaja Syafrida Hafni Sahir Trinandari Prasetya Nugrahanti Yuli Anwar

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