| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | Jurnal Riset Akuntansi Indonesia |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 69-85 |
| Abstraksi Narasi | : | In US Capital Market, the empirical evident showed that the effect of inventory holding cost of stock on bid-ask spread was positive. This paper attempts to confirm the affect in Indonesia Capital Market. The confirmation is performed by using error correction model (ECM). The case in cigarette industry is used in this paper. There are three companies in this industry including PT BAT, PT H.M. Sampoerna, and PT Gudang Garam. The daily time series data for the year 1996, 1997, and 1998 are used to be analyzed. It was found that the ECM estimation gave the evident that the transaction volume and/or return negatively effects on bid-ask spread both in term of absolute and relative in cigarette industry. It means that the inventory holding cost of stock on bid-ask spread would be positive. Accordingly, the finding is consistent and confirmed. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | Jurnal Riset Akuntansi Indonesia |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 86-101 |
| Abstraksi Narasi | : | This paper extends previous work in the area of supervisory style as it pertains to the use of budgetary information for performance evaluation. Previous research has focused exclusively on the superior`s budgetary performance evaluation style. This study focused on both superior`s perceived and the subordinate`s preferred budgetary performance evaluation style. When subordinate`s preferred style disagrees with the superior`s perceived style, this disagreement is hypothesized to lead to the subordinate`s and superior`s feeling higher job-related tension and lower job satisfaction. Eighty-nine managers and staffs from a cross-section of departement in Indonesia manufacturing companies paricipated in this study. The results support the hypothesized relations. This study also examines two mediating models, (1) jobrelated tension that nay mediate the relationship between disagreement in budgetary performance evaluation style and performance, and (2) job satisfaction that may mediate the relationship between disagreement and performance. The result indicate that only job satisfaction mediates the relationship between disagreement in budgetary performance evaluation style and performance. Finally, a structure equation model is used to determine the overall impact of disagreement in budgetary performance evaluation style on job-related tension, job satisfaction and performance. |
| Nama Pengarang | : | Prihatin Asih, M. Gudono |
| Nama Majalah/Jurnal | : | Jurnal Riset Akuntansi Indonesia |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 35-53 |
| Abstraksi Narasi | : | The investor`s attention on net income numbers without regard to the procedures used to generate them, has encourage management to carry out earnings management. Includes within earnings management is income smoothing. Income smoothing can be viewed in term of the reduction in earnings variability over a numbers of periods, or within a single period, as the movement toward unexpected level of reported earning. Objective of this study to examine the market reaction on earnings announcement due to the income smoothing. This study examine ninety nine companies which listed in Jakarta Stock Exchange at least since 1990. Market reaction is measured as cumulative abnormal return five days surrounding the companies` earnings announcement date. Overall, the result of this study indicate that there is significant market reaction surrounding the compainies` earnings announcement date and these market reaction significantly difference between smoother companies and non-smoother companies. This study is hopes to give contribution to the literature, that income smoothing practice can regard as a signal to better prediction of future earnings by investors and a mean to decrease market reaction on companies` earnings anouncement. |
| Nama Pengarang | : | Hanna Meilani Salno, Zaki Baridwan |
| Nama Majalah/Jurnal | : | Jurnal Riset Akuntansi Indonesia |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 17-34 |
| Abstraksi Narasi | : | This research is designed to examine the income smoothing in Indonesia. Income smoothing can be defined as a means used by management to diminish the variabiity of a stream of reported income numbers relative to some perceived target stream by the manipulation of artificial (accounting) and real (transactional) variables (Koch,1981). Two main isues investigated in this research were factors influencing income smoothing and the linkage between income smoothing and performance (return and risk) of public companies` stock in Indonesia. Seventy four listed companies in Jakarta Stock Exchange (JSX) selected using (purposive) judgement sampling method were used as research sample. The sample was when clasified into smoother and non smoother using Eckel`s model (1981). Eckel`s clasification uses three kinds of income as research objects: operating income, income before tax, and income after tax (net income). The result showed that there was income smoothing practiced by companies listed in JSX. Common and special statistical tests according to the hypothesis were used in this research. Common statistic includes descriptive statistics, normality data tests (with One Sample Kolmogorov Smirnov test) and population tests (with Mann Whitney U Test and t Test). All kinds of common statistical tests concluded that some data was distributed normally and the rest was not, eventhough those data came from the same population. The first hypothesis examined whether size, net profit margin, industrial sectors,and winner/losser stocks influenced income smoothing. Logistic regression was used to test this hypothesis and concluded that the first hypothesis cannot be rejacted. The first conclusion stated that all factors hypothesized were not influence income smoothing. The second hypothesis examined whether there was return difference between smoother and non smoother. This hypothesis was tested with Independent Sample t Test and concluded that there was no return difference between smoother and non smoother. The third hypothesis examined whether there was risk difference between smoother and non smoother. This hypothesis tested with Independent Sample t Test. The last conclusion stated that there was no risk difference between smoother and non-smoother. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | Jurnal Riset Akuntansi Indonesia |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 136-153 |
| Abstraksi Narasi | : | This paper investigated the effect of business strategy, level of decentralization, and attitude toward job and firm on the relationship between budget participation and performance. Using a system of fit approach, it was hypothesized that a fit between a participatory budgeting system with a product differentiation strategy, a higher level of decentralization, and a positive attitude toward job and firm would more likely be associeted with high performance. Analyses were based on the responses of 75 divisional managers selected randomly from America`s Corporate Families. The results show that, first, a fit between participation and product differentiation strategy was associated with higher perceived performance. This finding serves as important evidence about the role of budgeting in a strategic implementation process. Second, consistent with Mia (1988), a fit between participation and attitude was associated with higher perceived performance. The results also indicate that strategy and attitude jointly affect the relationship between participation and performance. The effect of decentralization was not determinable because the data lacks sufficient variation of this variable nacessary to do a system of fit analysis. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | Jurnal Riset Akuntansi Indonesia |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 230-250 |
| Abstraksi Narasi | : | The statement of cash flows was not mandatory under the American generally accepted accounting principles (GAAP) until the issuance of Statement of Financial Accounting Standard No. 95 by the Financial Accounting Standards Board (FASB). On September 1994, Komite Standar Akuntansi Ikatan Akuntan Indonesia (the Accounting Standard Committee of Indonesian Accountants Institute) released Pernyataan Standar Akuntansi Keuangan (PSAK) No. 2 mandating the presentation of cash flows statement in replacement of fund flows statement. Several studies have been devoted to investigate the usefulness of cash flows statement in terms of its information content. The findings, however, were mixed. The objective of the study is to empirically examine whether cash-flows-based financial ratios have incremental information content relative to those based on balance sheet and income statement. This study contributes to the extant literature in information content of cash flows, especially in Indonesia, by incorporating a proxy for fundamental analysis (Pr) into models for measuring the usefulness of cash-flows-based financial ratios. Univariate logit models were employed to identify a set of ratios deemed to be good predictors for earnings changes. The identified ratios were then used as explanatory variables in multivariate logit models to generate Pr estimates. Three series of Pr`s were generated : Pr from balance sheet and income statement (Series I Pr), Pr from cash flows statement (Series 2 Pr), and Pr from balance sheet, income statement, and cash flows statement ( Series 3 Pr). Finally, simple regression models of stock returns on each series of Pr`s were estimated to measure the information content of cash-flows-based ratios. The empirical results show that adjusted R2 of regression model on series 3 is larger than that of regression model on Series 2. Using F-statistic, the difference is statistically significant at 0.05 level. Thus, the cash flows statement embodies incremental information to users. Further tests reveal that adjusted R2 of regression model on Series 2 Pr is smaller than that of regression on Series 1. The difference is also statistically significant. This implies that the cash flows statement alone contains less information than balance sheet and income statement. However, the cash flows statement is useful when it is utilized in conjunction with other two financial statements. |
| Nama Pengarang | : | Etty Gurendrawati,Bambang Sudibyo |
| Nama Majalah/Jurnal | : | Jurnal Riset Akuntansi Indonesia |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 196-210 |
| Abstraksi Narasi | : | Cases of merger and acquisition made by a company can bring about changes in the financial performance of the company concerned, as reflected in the position and condition of its financial statements. This study is an empirical study that seeks to test market reaction to merger and acquisition. The market reaction under study is the change of the trading volume activity in the Jakarta Stock Exchange. The objective of this study is to obtain empirical evidence of whether a merger and acquisition by public company and the accounting method for a marger and aquisition affect investment decision. This investment decision is reflected in the changes of the trading volume activity around the date of a marger and acquisition. The hypotheses proposed in this study are as follows : (1) there is a significant difference in Trading Volume Activity between the period before and the period after a marger and acquisition. (2) market reactions to margers and acquisitions by purchase method were significantly stronger than those to mergers and acquisitions by pooling of interest method. Results of analyses using t- test indicate the follows :(1) There was no significant difference in the trading volume activity between the period before and the period after the date of a marger and acquisitions. This shows that cases of merger and acquisition by public company do not significantly affect investment decision by investor as reflected in the changes of trading volume activity. (2) Market reaction to merger and acquisition was significantly difference (=0.05; p=2.357E-06) between companies that adopted the purchase method and those that adopted the pooling of interest method. Empirical evidence indicates that market reaction to the purchase method is stronger. This happens probably because favourable impacts on net income due to revaluation of assets under the purchase method are significantly greater then those due to tax saving under the pooling if interest method. |
| Nama Pengarang | : | Suwandi,Nur Indriantoro |
| Nama Majalah/Jurnal | : | Jurnal Riset Akuntansi Indonesia |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 173-195 |
| Abstraksi Narasi | : | Pasewark and Strawser (1996) tested a comprehensive turnover model using organizational factors - among them role perceptions - as variable that trigger the whole process of proffessional accounting staff`s intentions to quit. These organizational factors can be influenced and change by the accounting firm through a series of actions and policies to lower the staffs` intention to leave the firm. This stady is aimed at testing the consistency of that model and to search for more theoritical background through review of previous turmover studies in management and psychology. Test of the model`s consistency through a set of hypothesis confirmed bivariate relationships among various variabels in the model. In addition, result from path analysis support implication for various possibilities of variables interaction in shaping the staff`s turnover intentions. Organization factors, most notably role confict and role ambiquity, were found to be consistently influencing other variables in the model giving implication for accounting firm to put more consideration on these factors in job and task design. |
| Nama Pengarang | : | Sujoko Efferin, Ainun Na'im, Sri Sularso, Indriantoro, Nur, Suwandi, Sudibyo, Bambang, Etti Gurendrawati, Nur Fadjrih Asyik, Bambang Riyanto LS |
| Nama Majalah/Jurnal | : | Jurnal Riset Akuntansi Indonesia |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 211-229 |
| Abstraksi Narasi | : | This study attempts to explain the establisment of the Urgent Issues Group in Australia by emphasising on the socio-political background behind the process. By using the perspectives of Foucault`s archaeology and genealogy combined with the concepts of sociology of translation and accounting constellation, the study has found that the emergence of such a group is inseparable from the struggle of the Australian accounting authority to regain and preverse their power which were increasingly taken over by government agencies and legal profession. Four major phenomena which have been identified as having significant contribution to the emergence are increasing involvement of the Australian government in the financial reporting area, 1980s financial disaster, controversies over the Australian accounting standards and concepts, and competition between accounting and legal profession. |
| Nama Pengarang | : | Arif Budiarto,Zaki Baridwan |
| Nama Majalah/Jurnal | : | Jurnal Riset Akuntansi Indonesia |
| Volume / Nomor Edisi | : | 2 (No. 1) |
| Nomor Halaman | : | 91-116 |
| Abstraksi Narasi | : | Empiriclly, the information of right issue announcement had resulted in the stock market to react negatively which is reflected in the decreasing of stock price/return and increasing trading activity around the announcement day. The objective of this research is to verify empirically that the behavior of stock prices and trading activity differ significantly around the issue day of right issue. This paper examines fifty companies which announced right issue in Jakarta Stock Exchange during 1994 to 1996. Market-adjusted return model is used to estimate the abnormal return. The estimation of this return is the difference between the actual and expected return rate. This research utilized Trading Volume Activity (TVA) to test the difference in trading activity around the issue day of stock offering (right issue). Overall, the results of this paper indicate that there are no significant dfferences among stock return, abnormal return, and trading volume activity around the announcement day. These results do not advocate the previous research. This anomaly may be caused by micro factor such as the difference of capital stucture and by macro factor such as global economic condition, political, and cultural which are not controllable. |
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