Pengaruh Asimetri Informasi pada Hubungan Antara Regulasi Perbankan dan Manajemen Laba serta Dampaknya terhadap Kinerja Saham (Studi Empiris pada Industri Perbankan di Indonesia)

Rahmawati Rahmawati (Fakultas Ekonomi Universitas Sebelas Maret Surakarta)

Jurnal Akuntansi dan Bisnis
Vol 6, No 1 (2006)

The purpose of this research is to test the influence of information asymmetry at the relationship between banking regulation and earnings management and also its impact to stock performance. Result of this research can benefit to theory development, compiler of accountancy standard, regulator (Indonesian Bank) and also investor. Accountancy data are collected from ICMD (Indonesian Capital Market Directory) and/or annual report company which are provided by Center Capital Market Reference (PRPM)of Jakarta Stock Exchange. Population of this research is all public bank exist at Indonesian in the year 2000 until 2004 which enlist in BEJ. Diagnostic test was performed before data are analyzed using multiple regression model. Result of the diagnostic test shows autocorrelation that was corrected. Indication existence of earnings management at banking industry look at mean of discreationary accrual which level of unlike zero. Information Asymmetry moderate relationship between banking regulation about carefullness and earnings management. There is significant relationship between banking regulation about health level and earnings management. Specific accrual model show banks which are decreasing of health level and not compliance regulation about carefullness will increasing balance of productive assets loss allowance. Result of examination of market reaction show relationship between discreationary accrual, nondiscreationary accrual and operating cash flow with return abnormal cummulative have the character of three rank nonlinier. Market respond to announcement financial statement of banking industry that doing earnings management.