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Abstract
This study investigates the effectiveness of corporate governance and earnings’ management. During 2016-2018, 333 samples of manufacturing companies were obtained. Multiple linear regression method was used to analyze data. The test results show that the number of board of directors’ members and earnings’ management have a negative insignificant, the audit committee meetings have a negative significant, and the number of audit committee’s members have a positive insignificant. This study contributes to enrich the earnings’ management literature and adds novelty in how corporate governance structures interact to influence earnings’ management.
Abstrak
Kajian ini menyelidiki efektivitas tata kelola perusahaan dan manajemen laba. Selama tahun 2016-2018, diperoleh 333 sampel perusahaan manufaktur. Metode regresi linier berganda digunakan untuk menganalisis data. Hasil pengujian memperlihatkan jumlah anggota dewan direksi dan manajemen laba mempunyai hasil tidak signifikan negatif, pertemuan komite audit mempunyai hasil signifikan negatif, dan jumlah anggota komite audit mempunyai hasil tidak signifikan positif. Penelitian ini berkontribusi dalam memperkaya literatur manajemen laba dan menambah kebaruan pada bagaimana struktur tata kelola perusahaan berinteraksi untuk memengaruhi manajemen laba.
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Copyright (c) 2023 Mei Rinta
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References
- Du Plessis JJ, Hargovan A, Harris J. Principles of contemporary corporate governance: Cambridge University Press; 2018.
- Sohn BC. The effect of accounting comparability on the accrual-based and real earnings management. Journal of Accounting and Public Policy. 2016;35(5):513-39.
- Agustia D. Pengaruh faktor good corporate governance, free cash flow, dan leverage terhadap manajemen laba. Jurnal Akuntansi dan Keuangan. 2013;15(1):27-42.
- Scott WR. FINANCIAL ACCOUNTING THEORY: Prentice Hall; 2019. 256 Jurnal Riset dan Aplikasi: Akuntansi dan Manajemen, Vol. 5, No. 2, September 2021, hlm. 249 – 258
- Jones JJ. Earnings Management During Import Relief Investigations. Journal of Accounting Research. 1991;29(2):193- 228.
- Kumari P, Pattanayak JK. Linking earnings management practices and corporate governance system with the firms’ financial performance. Journal of Financial Crime. 2017;24(2):223-41.
- Riadiani AR, Wahyudin A. Pengaruh Good Corporate Governance Terhadap Manajemen Laba Dengan Financial Distress Sebagai Intervening. Accounting Analysis Journal. 2015;4(3).
- Davidson III WN, Xie B, Xu W. Market reaction to voluntary announcements of audit committee appointments: The effect of financial expertise. Journal of Accounting and Public Policy. 2004;23(4):279-93.
- Larastomo J, Perdana HD, Triatmoko H, Sudaryono EA. Pengaruh tata kelola perusahaan dan penghindaran pajak terhadap manajemen laba pada perusahaan manufaktur di Indonesia. Esensi: Jurnal Bisnis dan Manajemen. 2016;6(1):63-74.
- Small K, Kwag SW, Li J. Do shareholder rights influence managerial propensity to engage in earnings management? Journal of Economics and Finance. 2015;39(2):308-26.
- Chen H, Jory S, Ngo T. Earnings management under different ownership and corporate governance structure: A natural experiment with master limited partnerships. The Quarterly Review of Economics and Finance. 2019.
- Lo AW, Wong RM, Firth M. Can corporate governance deter management from manipulating earnings? Evidence from related-party sales transactions in China. Journal of Corporate Finance. 2010;16(2):225-35.
- Jensen MC, Meckling WH. Theory of the firm: Managerial behavior, agency costs, and ownership structure. Journal of Financial Economics. 1976;3:305-60.
- Eisenhardt KM. Agency theory: An assessment and review. Academy of management review. 1989;14(1):57-74.
- Mahawyahrti T, Budiasih GN. Asimetri Informasi, Leverage, dan Ukuran Perusahaan pada Manajemen Laba. Jurnal Ilmiah Akuntansi dan Bisnis. 2016;11(2):100-10.
- Medyawati H, Dayanti AS. Pengaruh ukuran perusahaan terhadap manajemen laba: Analisis data panel. Jurnal Ilmiah Ekonomi Bisnis. 2017;21(3).
- Purnama D. Pengaruh profitabilitas, leverage, ukuran perusahaan, kepemilikan institusional dan kepemilikan manajerial terhadap manajemen laba. Jurnal Riset Keuangan Dan Akuntansi. 2020;3(1).
- Sosiawan SY. Pengaruh kompensasi, leverage, ukuran perusahaan, earnings power terhadap manajemen laba. Jurnal Riset Akuntansi dan Keuangan. 2012;8(1):79-89.
- Agustia YP, Suryani E. Pengaruh Ukuran Perusahaan, Umur Perusahaan, Leverage, Dan Profitabilitas Terhadap Manajemen Laba (Studi Pada Perusahaan Pertambangan yang Terdaftar di Bursa Efek Indonesia Periode 2014-2016). Jurnal Aset (Akuntansi Riset). 2018;10(1):71-82.
- Alves SMG. The effect of the board structure on earnings management: evidence from Portugal. Journal of Financial Reporting and Accounting. 2011;9(2):141-60.
- Chi CW, Hung K, Cheng HW, Lieu PT. Family firms and earnings management in Taiwan: Influence of corporate governance. International Review of Economics & Finance. 2015;36:88-98.
- Beasley MS. An empirical analysis of the relation between the board of director composition and financial statement fraud. Accounting Review. 1996;71(4):443-65.
- Pucheta‐Martínez MC, Bel‐Oms I, Olcina‐Sempere G. Corporate governance, female directors and quality of financial information. Business Ethics: A European Review. 2016;25(4):363-85.
- Lestari E, Murtanto M. Pengaruh Efektivitas Dewan Komisaris dan Komite Audit, Struktur Kepemilikan, dan Kualitas Audit terhadap Manajemen Laba. Media Riset Akuntansi, Auditing & Informasi. 2018;17(2):97-116.
- Libby R, Rennekamp KM, Seybert N. Regulation and the interdependent roles of managers, auditors, and directors in earnings management and accounting choice. Accounting, Organizations and Society. 2015;47:25-42. [26] Krishnamurti C, Velayutham E. The influence of board committee structures on voluntary disclosure of greenhouse gas emissions: Australian evidence. Pacific-Basin Finance Journal. 2018;50:65-81.
- Kristiani KE, Sulindawati NLGE, Herawati NT, AK S. Pengaruh Mekanisme Corporate Governance Dan Ukuran Perusahaan Terhadap Manajemen Laba Pada Perusahaan Manufaktur Yang Terdaftar Di BEI. JIMAT (Jurnal Ilmiah Mahasiswa Akuntansi) Undiksha. 2014;2(1).
- Alzeban A, Sawan N. The impact of audit committee characteristics on the implementation of internal audit recommendations. Journal of International Accounting, Auditing and Taxation. 2015;24:61-71.
References
Du Plessis JJ, Hargovan A, Harris J. Principles of contemporary corporate governance: Cambridge University Press; 2018.
Sohn BC. The effect of accounting comparability on the accrual-based and real earnings management. Journal of Accounting and Public Policy. 2016;35(5):513-39.
Agustia D. Pengaruh faktor good corporate governance, free cash flow, dan leverage terhadap manajemen laba. Jurnal Akuntansi dan Keuangan. 2013;15(1):27-42.
Scott WR. FINANCIAL ACCOUNTING THEORY: Prentice Hall; 2019. 256 Jurnal Riset dan Aplikasi: Akuntansi dan Manajemen, Vol. 5, No. 2, September 2021, hlm. 249 – 258
Jones JJ. Earnings Management During Import Relief Investigations. Journal of Accounting Research. 1991;29(2):193- 228.
Kumari P, Pattanayak JK. Linking earnings management practices and corporate governance system with the firms’ financial performance. Journal of Financial Crime. 2017;24(2):223-41.
Riadiani AR, Wahyudin A. Pengaruh Good Corporate Governance Terhadap Manajemen Laba Dengan Financial Distress Sebagai Intervening. Accounting Analysis Journal. 2015;4(3).
Davidson III WN, Xie B, Xu W. Market reaction to voluntary announcements of audit committee appointments: The effect of financial expertise. Journal of Accounting and Public Policy. 2004;23(4):279-93.
Larastomo J, Perdana HD, Triatmoko H, Sudaryono EA. Pengaruh tata kelola perusahaan dan penghindaran pajak terhadap manajemen laba pada perusahaan manufaktur di Indonesia. Esensi: Jurnal Bisnis dan Manajemen. 2016;6(1):63-74.
Small K, Kwag SW, Li J. Do shareholder rights influence managerial propensity to engage in earnings management? Journal of Economics and Finance. 2015;39(2):308-26.
Chen H, Jory S, Ngo T. Earnings management under different ownership and corporate governance structure: A natural experiment with master limited partnerships. The Quarterly Review of Economics and Finance. 2019.
Lo AW, Wong RM, Firth M. Can corporate governance deter management from manipulating earnings? Evidence from related-party sales transactions in China. Journal of Corporate Finance. 2010;16(2):225-35.
Jensen MC, Meckling WH. Theory of the firm: Managerial behavior, agency costs, and ownership structure. Journal of Financial Economics. 1976;3:305-60.
Eisenhardt KM. Agency theory: An assessment and review. Academy of management review. 1989;14(1):57-74.
Mahawyahrti T, Budiasih GN. Asimetri Informasi, Leverage, dan Ukuran Perusahaan pada Manajemen Laba. Jurnal Ilmiah Akuntansi dan Bisnis. 2016;11(2):100-10.
Medyawati H, Dayanti AS. Pengaruh ukuran perusahaan terhadap manajemen laba: Analisis data panel. Jurnal Ilmiah Ekonomi Bisnis. 2017;21(3).
Purnama D. Pengaruh profitabilitas, leverage, ukuran perusahaan, kepemilikan institusional dan kepemilikan manajerial terhadap manajemen laba. Jurnal Riset Keuangan Dan Akuntansi. 2020;3(1).
Sosiawan SY. Pengaruh kompensasi, leverage, ukuran perusahaan, earnings power terhadap manajemen laba. Jurnal Riset Akuntansi dan Keuangan. 2012;8(1):79-89.
Agustia YP, Suryani E. Pengaruh Ukuran Perusahaan, Umur Perusahaan, Leverage, Dan Profitabilitas Terhadap Manajemen Laba (Studi Pada Perusahaan Pertambangan yang Terdaftar di Bursa Efek Indonesia Periode 2014-2016). Jurnal Aset (Akuntansi Riset). 2018;10(1):71-82.
Alves SMG. The effect of the board structure on earnings management: evidence from Portugal. Journal of Financial Reporting and Accounting. 2011;9(2):141-60.
Chi CW, Hung K, Cheng HW, Lieu PT. Family firms and earnings management in Taiwan: Influence of corporate governance. International Review of Economics & Finance. 2015;36:88-98.
Beasley MS. An empirical analysis of the relation between the board of director composition and financial statement fraud. Accounting Review. 1996;71(4):443-65.
Pucheta‐Martínez MC, Bel‐Oms I, Olcina‐Sempere G. Corporate governance, female directors and quality of financial information. Business Ethics: A European Review. 2016;25(4):363-85.
Lestari E, Murtanto M. Pengaruh Efektivitas Dewan Komisaris dan Komite Audit, Struktur Kepemilikan, dan Kualitas Audit terhadap Manajemen Laba. Media Riset Akuntansi, Auditing & Informasi. 2018;17(2):97-116.
Libby R, Rennekamp KM, Seybert N. Regulation and the interdependent roles of managers, auditors, and directors in earnings management and accounting choice. Accounting, Organizations and Society. 2015;47:25-42. [26] Krishnamurti C, Velayutham E. The influence of board committee structures on voluntary disclosure of greenhouse gas emissions: Australian evidence. Pacific-Basin Finance Journal. 2018;50:65-81.
Kristiani KE, Sulindawati NLGE, Herawati NT, AK S. Pengaruh Mekanisme Corporate Governance Dan Ukuran Perusahaan Terhadap Manajemen Laba Pada Perusahaan Manufaktur Yang Terdaftar Di BEI. JIMAT (Jurnal Ilmiah Mahasiswa Akuntansi) Undiksha. 2014;2(1).
Alzeban A, Sawan N. The impact of audit committee characteristics on the implementation of internal audit recommendations. Journal of International Accounting, Auditing and Taxation. 2015;24:61-71.