Pengaruh tata kelola perusahaan terhadap manajemen laba pada perusahaan manufaktur yang terdaftar di bei tahun 2016-2019

Mardianto Mardianto, Latycia Carin

Abstract


Penelitian ini bertujuan untuk menguji pengaruh karakteristik dewan direksi dan komite audit terhadap manajemen laba riil.Karakteristik yang diukur dalam penelitian ini berupa jumlah anggota, jumlah anggota independen, jumlah pertemuan, dan jumlah anggota dengan keahlian dalam bidang akuntansi dan keuangan. Sedangkan variabel manajemen labadiukur dengan nilai abnormal production cost,abnormal cash flows from operationdan abnormal discretionary expenses yang dihasilkan dari beberapa strategi bisnis seperti keringanan persyaratan kredit, diskon penjualan, produksi yang berlebihan sepanjang tahun dan pengurangan biaya diskresioner. Sejumlah 411 data dari laporan tahunan perusahaan manufaktur yang terdaftar di BEI tahun 2016 - 2019 digunakan sebagai sampel untuk dievaluasi lebih lanjut dalam penelitian.Hasil penelitian menunjukkan bahwa total empat karakteristik yang diukur pada dewan direksi dan komite audit tidak berpengaruh signifikan terhadap manajemen laba riil. Tiga variabel kontrol yang terdiri dari ukuran perusahaan, leverage, dan auditor eksternal juga terbukti secara empiris tidak berpengaruh signifikan terhadap praktik manajemen laba riil pada perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia. Pertumbuhan sebagai variabel kontrol yang tersisadalam penelitianmenunjukkan pengaruh signifikan negatif terhadap manajemen laba riil.

Keywords


Komite audit; karakteristik dewan direksi; tata kelola perusahaan; manajemen laba; bursa efek indonesia

References


Abdelkarim, N., & Zuriqi, K. (2020). Corporate governance and earnings management: Evidence from listed firms at Palestine exchange. Asian Economic and Financial Review, 10(2), 200–217. https://doi.org/10.18488/journal.aefr.2020.102.200.217

Al-Absy, M. S. M., Ismail, K. N. I. K., Chandren, S., & Al-Dubai, S. A. A. (2020). Involvement of board chairmen in audit committees and earnings management: Evidence from Malaysia. Journal of Asian Finance, Economics and Business, 7(8), 233–246. https://doi.org/10.13106/JAFEB.2020.VOL7.NO8.233

Al-Haddad, L., & Whittington, M. (2019). The impact of corporate governance mechanisms on real and accrual earnings management practices: evidence from Jordan. Corporate Governance (Bingley), 19(6), 1167–1186. https://doi.org/10.1108/CG-05-2018-0183

Al-Thuneibat, A. A., Al-Angari, H. A., & Al-Saad, S. A. (2016). The effect of corporate governance mechanisms on earnings management: Evidence from Saudi Arabia. Review of International Business and Strategy, 26(1), 2–32. https://doi.org/10.1108/RIBS-10-2013-0100

Alareeni, B. (2018). Does corporate governance influence earnings management in listed companies in Bahrain Bourse? Journal of Asia Business Studies, 12(4), 551–570. https://doi.org/10.1108/JABS-06-2017-0082

Albersmann, B. T., & Hohenfels, D. (2017). Audit committees and earnings management – Evidence from the German two-tier board system. Schmalenbach Business Review, 18(2), 147–178. https://doi.org/10.1007/s41464-017-0028-9

Alzoubi, E. S. S. (2019). Audit committee, internal audit function and earnings management: evidence from Jordan. Meditari Accountancy Research, 27(1), 72–90. https://doi.org/10.1108/MEDAR-06-2017-0160

Amelia, W., & Hernawati, E. (2016). Pengaruh komisaris independen, ukuran perusahaan, dan profitabilitas terhadap manajemen laba. NeO~Bis, 10(1), 62–77. http://journal.trunojoyo.ac.id/neo-bis/article/view/1584

Amertha, I. S. P., Ulupui, I. G. K. A., & Putri, I. G. A. M. A. D. (2014). Analysis of firm size, leverage, corporate governance on earnings management practices (Indonesian evidence). Journal of Economics, Business, and Accountancy Ventura, 17(2), 259–268. https://doi.org/10.14414/jebav.v17i2.308

Anh, L. T. H., Linh, L. T. N., & Huy, V. T. (2015). The effect of corporate governance on earnings management of enterprises listed on Hochiminh Stock Exchange, Vietnam. Hue University Journal of Science, 113(14), 5. https://doi.org/10.26459/jed.v113i14.3647

Ayemere, I. L., & Elijah, A. (2015). Audit committee attributes and earnings management: Evidence from Nigeria. International Journal of Business and Social Research, 5(4), 14–23. https://doi.org/10.18533/ijbsr.v5i4.737

Azeez, H. A. R. Al, Sukoharsono, E. G., Roekhudin, & Andayani, W. (2019). The impact of board characteristics on earnings management in the international oil and gas corporations. Academy of Accounting and Financial Studies Journal, 23(1), 1–26.

Azzoz, A. R. A. M., & Khamees, B. A. (2016). The impact Of corporate governance characteristics on earnings quality and earnings management : Evidence from Jordan. Jordan Journal of Business Administration, 12(1), 187–207. https://doi.org/10.35516/0338-012-001-008

Bajra, U., & Cadez, S. (2018). The impact of corporate governance quality on earnings management: Evidence from European companies cross-listed in the US. Australian Accounting Review, 28(2), 152–166. https://doi.org/10.1111/auar.12176

Bouaziz, D., Salhi, B., & Jarboui, A. (2020). CEO characteristics and earnings management: Empirical evidence from France. Journal of Financial Reporting and Accounting, 18(1), 77–110. https://doi.org/10.1108/JFRA-01-2019-0008

Buraik, O., & Idris, M. (2020). Board characteristics and intentions of earnings management. International Journal of Innovation, Creativity and Change, 14(5), 429–443.

Chandra, S. M., & Djashan, I. A. (2018). Pengaruh leverage dan faktor lainnya terhadap manajemen laba pada perusahaan non keuangan. Jurnal Bisnis Dan Akuntansi, 20(1), 13–20.

Cherif, Z. F., Ayadi, S. D., & Hamad, S. B. Ben. (2020). The effect of family ownership on accrual-based and real activities based earnings management: Evidence from the French context. Journal of Accounting and Management Information Systems, 19(2), 283–310. https://doi.org/10.24818/jamis.2020.02004

Chouaibi, J., Harres, M., & Brahim, N. Ben. (2018). The effect of board director’s characteristics on real earnings management: Tunisian-listed firms. Journal of the Knowledge Economy, 9(3), 999–1013. https://doi.org/10.1007/s13132-016-0387-3

Ebaid, I. E. S. (2013). Corporate governance and investors’ perceptions of earnings quality: Egyptian perspective. Corporate Governance (Bingley), 13(3), 261–273. https://doi.org/10.1108/CG-02-2011-0011

Ghozali, I. (2011). Aplikasi Analisis Multivariate Dengan Program SPSS. Badan Penerbit Universitas Diponegoro.

González, J. S., & García-Meca, E. (2014). Does corporate governance influence earnings management in Latin American markets? Journal of Business Ethics, 121(3), 419–440. https://doi.org/10.1007/s10551-013-1700-8

Grimaldi, F., Caragnano, A., Zito, M., & Mariani, M. (2020). Sustainability engagement and earnings management: The Italian context. Sustainability, 12(2), 1–16. https://doi.org/10.3390/SU12124881

Indriantoro, N., & Supomo, B. (2014). Metodologi Penelitian Bisnis untuk Akuntansi dan Manajemen.

Jatiningrum, C., Abdul-Hamid, M. A., & Popoola, O. M. J. (2016). The impact of disclosure quality on corporate governance and earnings management: Evidence from companies in Indonesia. International Journal of Economics and Financial Issues, 6(4), 118–125.

Jiang, F., Zhu, B., & Huang, J. (2013). CEO’s financial experience and earnings management. Journal of Multinational Financial Management, 23(3), 134–145. https://doi.org/10.1016/j.mulfin.2013.03.005

Kankanamage, C. A. (2016). The relationship between board characteristics and earnings management: evidence from Sri Lankan listed companies. Kelaniya Journal of Management, 4(2), 36. https://doi.org/10.4038/kjm.v4i2.7499

Katmon, N., & Farooque, O. Al. (2017). Exploring the Impact of Internal Corporate Governance on the Relation Between Disclosure Quality and Earnings Management in the UK Listed Companies. Journal of Business Ethics, 142(2), 345–367. https://doi.org/10.1007/s10551-015-2752-8

Khalil, M., & Ozkan, A. (2016). Board independence, audit quality and earnings management: Evidence from Egypt. Journal of Emerging Market Finance, 15(1), 84–118. https://doi.org/10.1177/0972652715623701

Kolsi, M. C., & Grassa, R. (2017). Did corporate governance mechanisms affect earnings management? Further evidence from GCC Islamic banks. International Journal of Islamic and Middle Eastern Finance and Management, 10(1), 2–23. https://doi.org/10.1108/IMEFM-07-2015-0076

Latif, A. S., & Abdullah, F. (2015). The effectiveness of corporate governance in constraining earnings management in Pakistan. The Lahore Journal of Economics, 20(1), 135–155. https://doi.org/10.35536/lje.2015.v20.i1.a5

Luo, H., Zeng, Y., Wan, L., & Shen, Y. (2016). Executive heterogeneity, pay bandwagon, and earnings management. Nankai Business Review International, 7(4), 426–450. https://doi.org/10.1108/NBRI-04-2016-0015

Mardjono, E. S., Chen, Y.-S., & He, L.-J. (2020). Earning management and the effect characteristics of audit committee, independent commissioners: Evidence from Indonesia. International Journal of Business and Society, 21(2), 569–587. https://doi.org/10.5430/rwe.v11n3p108

Mishra, M., & Malhotra, A. K. (2016). Audit committee characteristics and Earnings Management: Evidence from India. International Journal of Accounting and Financial Reporting, 6(2), 247. https://doi.org/10.5296/ijafr.v6i2.10008

Mohammad, W. M. W., & Wasiuzzaman, S. (2019). Effect of audit committee independence, board ethnicity and family ownership on earnings management in Malaysia. Journal of Accounting in Emerging Economies, 10(1), 74–99. https://doi.org/10.1108/JAEE-01-2019-0001

Mollik, A. T., Mir, M., McIver, R., & Bepari, M. K. (2020). Effects of audit quality and audit committee characteristics on earnings management during the global financial crisis – evidence from Australia. Australasian Accounting, Business and Finance Journal, 14(4), 85–115. https://doi.org/10.14453/aabfj.v14i4.6

Muktadir-Al-Mukit, D., & Keyamoni, T. J. (2019). Corporate governance and earnings management practices among listed firms : A study on post stock market crisis period in Bangladesh. Journal of Asian Business Strategy, 9(1), 1–9. https://doi.org/10.18488/journal.1006.2019.91.1.9

Nelwan, M. L., & Tansuria, B. I. (2019). Audit committee characteristics and earnings management practices. Journal of Economics, Business & Accountancy Ventura, 22(1), 85–97. https://doi.org/10.14414/jebav.v22i1.1400

Ngamchom, W. (2015). Impact of board effectiveness and shareholders structure on earnings management in Thailand. Review of Integrative Business and Economics Research, 4(2), 342–354. www.sibresearch.org

Omid, A. M. (2015). Qualified audit opinion, accounting earnings management and real earnings management: Evidence from Iran. Asian Economic and Financial Review, 5(1), 46–57. https://doi.org/10.18488/journal.aefr/2015.5.1/102.1.46.57

Omoye, A. S., & Eriki, P. O. (2014). Corporate goverance determinants of earnings management: Evidence from Nigerian quoted companies. Mediterranean Journal of Social Sciences, 5(23), 553–564. https://doi.org/10.5901/mjss.2014.v5n23p553

Otoritas Jasa Keuangan Republik Indonesia. (2015). POJK Nomor 55/POJK.04/2015 Pembentukan dan Pedoman Pelaksanaan Kerja Komite Audit. www.ojk.go.id

Piosik, A., & Genge, E. (2020). The influence of a company’s ownership structure on upward real earnings management. Sustainability (Switzerland), 12(1), 1–25. https://doi.org/10.3390/SU12010152

Qamhan, M. A., Haat, M. H. C., Hashim, H. A., & Salleh, Z. (2018). Earnings management: Do attendance and changes of audit committee members matter? Managerial Auditing Journal, 33(8–9), 760–778. https://doi.org/10.1108/MAJ-05-2017-1560

Rajeevan, S., & Ajward, R. (2019). Board characteristics and earnings management in Sri Lanka. Journal of Asian Business and Economic Studies, 27(1), 2–18. https://doi.org/10.1108/jabes-03-2019-0027

Roychowdhury, S. (2006). Earnings management through real activities manipulation. Journal of Accounting and Economics, 42(3), 335–370. https://doi.org/10.1016/j.jacceco.2006.01.002

Saftiana, Y., Mukhtaruddin, Putri, K. W., & Ferina, I. S. (2017). Corporate governance quality, firm size and earnings management: Empirical study in Indonesia stock exchange. Investment Management and Financial Innovations, 14(4), 105–120. https://doi.org/10.21511/imfi.14(4).2017.10

Sahyoun, N., & Magnan, M. (2020). The association between voluntary disclosure in audit committee reports and banks’ earnings management. Managerial Auditing Journal, 35(6), 795–817. https://doi.org/10.1108/MAJ-05-2019-2279

Sharma, V. D., & Kuang, C. (2014). Voluntary audit committee characteristics, incentives, and aggressive earnings management: Evidence from New Zealand. International Journal of Auditing, 18(1), 76–89. https://doi.org/10.1111/ijau.12013

Siam, Y. A., Idris, M. I., & Al-Okdeh, S. (2018). The moderating role of family control on the relationship between audit committee financial expertise and earnings management. International Journal of Business and Management, 13(12), 31. https://doi.org/10.5539/ijbm.v13n12p31

Siam, Y. I. S. A., Laili, N. H. B., & Khairi, K. F. Bin. (2014). Board of directors and earnings management among Jordanian listed companies: Proposing conceptual framework. International Journal of Technical Research and Application, 2(3), 1–7.

Soliman, M. M., & Ragab, A. A. (2014). Audit committee effectiveness, audit quality and earnings management: an empirical study of the listed companies in Egypt. Research Journal of Finance and Accounting, 5(2), 155–166. http://ssrn.com/abstract=2257815

Sufiana, & Karina, R. (2020). Pengaruh efektivitas komite audit, kualitas audit dan efektivitas dewan direksi terhadap manajemen laba. Journal of Applied Managerial Accounting, 4(1), 42–59.

Sun, J., Lan, G., & Liu, G. (2014). Independent audit committee characteristics and real earnings management. Managerial Auditing Journal, 29(2), 153–172. https://doi.org/10.1108/MAJ-05-2013-0865

Susanto, Y. K. (2013). The effect of corporate governance mechanism on earnings management practice (Case study on Indonesia manufacturing industry). Jurnal Bisnis Dan Akuntansi, 15(2), 157–167. https://doi.org/10.34208/jba.v15i2.146

Susanto, Y. K. (2016). The effect of audit committees and corporate governance on Earnings Management: Evidence from Indonesia manufacturing industry. International Journal of Business, Economics and Law, 10(1), 32–37.

Swastika, D. L. T. (2013). Corporate governance, firm size, and earning management : Evidence in Indonesia Stock Exchange. IOSR Journal of Business and Management, 10(4), 77–82.

Taco, C., & Ilat, V. (2016). Pengaruh earning power, komisaris independen, dewan direksi, komite audit dan ukuran perusahaan terhadap manajemen laba pada perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia. Jurnal Emba: Jurnal Riset Ekonomi, Manajemen, Bisnis Dan Akuntansi, 4(4), 873–884.

Uwuigbe, U., Peter, D. S., & Oyeniyi, A. (2014). The effects of corporate governance mechanism on earnings management of listed firms in Nigeria. Accounting and Management Information Systems, 13(1), 159–174.

Velte, P. (2019). The bidirectional relationship between ESG performance and earnings management – empirical evidence from Germany. Journal of Global Responsibility, 10(4), 322–338. https://doi.org/10.1108/jgr-01-2019-0001

Zalata, A. M., Tauringana, V., & Tingbani, I. (2018). Audit committee financial expertise, gender, and earnings management: Does gender of the financial expert matter? International Review of Financial Analysis, 55(March 2017), 170–183. https://doi.org/10.1016/j.irfa.2017.11.002

Zehri, F., & Zgarni, I. (2020). Internal and external corporate governance mechanisms and earnings management: an international perspective. Journal of Accounting and Management Information Systems, 19(1), 33–64. https://doi.org/10.24818/jamis.2020.01002




DOI: http://dx.doi.org/10.29264/jfor.v23i3.10022

Refbacks

  • There are currently no refbacks.




Copyright (c) 2021 FORUM EKONOMI