FAKTOR DETERMINAN MANAJEMEN LABA DENGAN UKURAN PERUSAHAAN SEBAGAI VARIABEL MODERASI
Abstract
Isu-isu terkait manajemen laba senantiasa terus-menerus diteliti dan diangkat dijadikan topik dalam penelitian sebelumnya. Penelitian ini bermaksud untuk mendefinisikan perilaku manajemen laba, berdasarkan apa dan dalam keadaan apa manajemen laba dapat terjadi, sehingga manajemen laba dapat terdeteksi dan tindakan pencegahan dapat dilakukan. Penelitian menggunakan metode purposive sampling tepatnya dengan menggunakan 446 perusahaan di Bursa Efek Indonesia pada periode 2016-2020. Manajemen laba diproksi dengan diskresioner akrual dan analisa model menggunakan regresi data panel.
Kesimpulan usai uji t ditemukan adanya dampak tidak signifikan diantara variabel kepemilikan manajerial, kepemilikan institusional, dewan direksi, dan leverage pada manajemen laba. Dampak signifikansi positif pada manajemen laba ditemukan pada variabel program opsi saham bagi karyawan, sedangkan dampak signifikansi negatif ditemukan pada variabel komite audit, profitabilitas, dan arus kas bebas. Ukuran perusahaan sebagai pemoderasi tidak mampu memoderasi hubungan antara kepemilikan manajerial, kepemilikan institusional, dewan direksi, dan leverage terhadap manajemen laba, sedangkan mampu memoderasi hubungan antara program opsi saham bagi karyawan, komite audit, profitabilitas, dan arus kas bebas terhadap manajemen laba.
References
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Al Daoud, K. (2018, December 3). The Role of The Audit Commitee and The Board of Director in Mitigating The Practice of Earnings Management: Evidence from Jordan. https://doi.org/10.20472/bmc.2018.008.001
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
Amarsanaa, N. (2019). The relationship between Managerial Ownership and Earnings Management-Evidence from Mongolian listed firms. https://doi.org/http://dx.doi.org/10.2139/ssrn.3360342
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, 17(2), 259–268. https://doi.org/10.14414/jebav.14.1702009
Amin, A., Djuminah, Suhardjanto, D., Agustiningsih, S. W., & Agustiningsih, W. (2017). Board-Auditor Interaction and Earnings Management : The Model of Company with Concentrated Ownership. Review of Integrative Business and Economics Research, 6(3), 217–238. http://buscompress.com/journal-home.html
Andika, I. G. P. S., & Suputra, I. D. G. D. (2019). Effect of Leverage, Employee Stock Ownership Program and Managerial Ownership in Profit Management Practice. International Journal of Sciences: Basic and Applied Research, 43, 142–150. http://gssrr.org/index.php?journal=JournalOfBasicAndApplied
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Dao, B. T. T., & Ngo, H. A. (2020). Impact of corporate governance on firm performance and earnings management a study on vietnamese non-financial companies. Asian Economic and Financial Review, 10(5), 480–501. https://doi.org/10.18488/journal.aefr.2020.105.480.501
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Fitri, A., Muda, I., & Badaruddin. (2018). The Influence of Good Corporate Governance, Leverage, and Profitability on Earning Management with Firm Size as Moderating Variable in the Banking Companies Listed In Indonesia Stock Exchange in the Period of 2012-2016. International Journal of Research & Review (Www.Ijrrjournal.Com), 5(9), 49. www.ijrrjournal.com
Fodio, M. I., Ibikunle, J., & Oba, V. C. (2013). Corporate Governance Mechanisms and Reported Earnings Quality in Listed Nigerian Insurance Firms. International Journal of Finance and Accounting, 2013(5), 279–286. https://doi.org/10.5923/j.ijfa.20130205.01
Ghazali, A. W., Shafie, N. A., & Sanusi, Z. M. (2015). Earnings Management: An Analysis of Opportunistic Behaviour, Monitoring Mechanism and Financial Distress. Procedia Economics and Finance, 28, 190–201. https://doi.org/10.1016/s2212-5671(15)01100-4
Hastuti, C. S. F., Arfan, M., & Diantimala, Y. (2018). The Influence of Free Cash Flow and Operating Cash Flow on Earnings Management at Manufacturing Firms Listed in the Indonesian Stock Exchange. International Journal of Academic Research in Business and Social Sciences, 8(9), 1133–1146. https://doi.org/10.6007/ijarbss/v8-i9/4686
Healy, P. M., & Wahlen, J. M. (1999). A review of the earnings management literature and its implications for standard setting. In Accounting Horizons. https://doi.org/10.2308/acch.1999.13.4.365
Herlambang, A. R. (2017). Analisis Pengaruh Free Cash Flow dan Financial Leverage Terhadap Manajemen Laba dengan Good Corporate Governance Sebagai Variabel Moderasi. JOM, 4.
Hermiyetti, H., & Manik, E. N. (2013). The Influence of Good Corporate Governance Mechanism on Earnings Management: Empirical Study in Indonesian Stock Exchange Listed Company for Periods of 2006-2010. Indonesian Capital Market Review, 5(1). https://doi.org/10.21002/icmr.v5i1.1583
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Khanh, M. T. H., & Thu, A. P. (2019). The effect of financial leverage on real and accrual-based earnings management in vietnamese firms. Economics and Sociology, 12(4), 285–298. https://doi.org/10.14254/2071-789X.2019/12-4/18
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
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Mardjono, E. S., & Chen, Y.-S. (2020). Earning Management and The Effect Characteristics of Audit Committee, Independent Commissioners: Evidence From Indonesia. Research in World Economy, 11(3), 108–123. https://doi.org/10.5430/rwe.v11n3p108
Mardjono, E. S., Chen, Y.-S., & He, L.-J. (2020). Earning Management and The Effect Characteristics of Audit Committee, Independent Commisioners: Evidence From Indonesia. In International Journal of Business and Society (Vol. 21, Issue 2).
Maswadeh, S. (2018). The effect of the ownership structure on earnings management practices. Investment Management and Financial Innovations, 15(4), 48–60. https://doi.org/10.21511/imfi.15(4).2018.04
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OJK. (2015). No Title. Otoritas Jasa Keuangan.
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Prawida, N., & Sutrisno. (2021). Leverage, Profitability, Corporate Governance Mecanism and Earning Management: Cases in Manufacturing Company in Indonesia Stock Exchange. Asian Management and Business Review, 1(1), 35–45.
Purnama, I., & Nurdiniah, D. (2019). Profitability, Firm Size, and Earnings Management: the Moderating Effect of Managerial Ownership.
Putra, R. N. A. (2019). Good Corpotare Governance dan Manajemen Laba di Perbankan Syariah. Journal of Islamic Finance and Accounting, 2, 19–38. http://ejournal.iainsurakarta.ac.id/index.php/jifa
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Al Daoud, K. (2018, December 3). The Role of The Audit Commitee and The Board of Director in Mitigating The Practice of Earnings Management: Evidence from Jordan. https://doi.org/10.20472/bmc.2018.008.001
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
Amarsanaa, N. (2019). The relationship between Managerial Ownership and Earnings Management-Evidence from Mongolian listed firms. https://doi.org/http://dx.doi.org/10.2139/ssrn.3360342
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, 17(2), 259–268. https://doi.org/10.14414/jebav.14.1702009
Amin, A., Djuminah, Suhardjanto, D., Agustiningsih, S. W., & Agustiningsih, W. (2017). Board-Auditor Interaction and Earnings Management : The Model of Company with Concentrated Ownership. Review of Integrative Business and Economics Research, 6(3), 217–238. http://buscompress.com/journal-home.html
Andika, I. G. P. S., & Suputra, I. D. G. D. (2019). Effect of Leverage, Employee Stock Ownership Program and Managerial Ownership in Profit Management Practice. International Journal of Sciences: Basic and Applied Research, 43, 142–150. http://gssrr.org/index.php?journal=JournalOfBasicAndApplied
Ardiyansyah, M. (2014). Pengaruh Corporate Governance, Leverage Dan Profitabilitas Terhadap Manajemen Laba Pada Perusahaan Manufaktur Sektor Industri Barang Konsumsi Yang Terdaftar Di Bei Periode 2009-2013. In Universitas maritim Raja Ali haji.
Arifin, L., & Dectriana, N. (2016). Pengaruh Firm Size , Corporate Governance , Dan Karakteristik Perusahaan Terhadap Manajemen Laba. Jurnal Bisnis Dan Akuntansi, 18(1), 1–93.
Astari, A. A. M. R., & Suryanawa, I. K. (2017). Faktor-faktor yang Mempengaruhi Manajemen Laba. E-Jurnal Akuntansi Universitas Udayana, 20, 290–319.
Aygun, M., Ic, S., & Sayim, M. (2014). The Effects of Corporate Ownership Structure and Board Size on Earnings Management: Evidence from Turkey. International Journal of Business and Management, 9(12). https://doi.org/10.5539/ijbm.v9n12p123
Barus, I. S. L., Sarumpaet, T. L., Edison, A., Maisyarah, R., & Pulungan, E. (2019). Relationship between leverage and firm size toward to real earning management: (Unit analysis of mining company Indonesia exchange stock period 2012 until 2015). Journal of Reviews on Global Economics, 8, 672–687. https://doi.org/10.6000/1929-7092.2019.08.58
Bassiouny, S. W. (2016). The impact of firm characteristics on earnings management: an empirical study on the listed firms in Egypt. In www.jbrmr.com A Journal of the Academy of Business and Retail Management (Vol. 10). ABRM. www.jbrmr.com
Cardoso, F. T., Martinez, A. L., & Teixeira, A. J. . (2014). Free Cash Flow and Earnings Management inBrazil: The Negative Side of Financial Slack. Global Journal of Management and Business Research: D Accounting and Auditing, 14(1).
Dao, B. T. T., & Ngo, H. A. (2020). Impact of corporate governance on firm performance and earnings management a study on vietnamese non-financial companies. Asian Economic and Financial Review, 10(5), 480–501. https://doi.org/10.18488/journal.aefr.2020.105.480.501
Detikfinance. (2010). Katarina Utama Diduga Selewengkan Dana IPO Rp 28,971 Miliar. Detikfinance. https://finance.detik.com/bursa-dan-valas/d-1425496/katarina-utama-diduga-selewengkan-dana-ipo-rp-28971-miliar
Dimarcia, N., & Krisnadewi, K. (2016). Pengaruh Diversifikasi Operasi, Leverage dan Kepemilikan Manajerial pada Manajemen Laba. E-Jurnal Akuntansi, 15(3), 2324–2351.
Fahmi, I. (2012). Analisis Kinerja Keuangan. Alfabeta.
Fahmie, A. (2018). Pengaruh Profitabilitas, Leverage, Struktur Kepemilikan, Pertumbuhan Penjualan dan Komisaris Independen terhadap Manajemen Laba (Studi Empiris Pada Perusahaan Industri Barang Konsumsi yang Terdaftar di BEI Tahun 2012-2014). Jurnal Ilmia. Jurnal Ilmiah Akuntansi Kesatuan, 6(2), 119–131.
Fitri, A., Muda, I., & Badaruddin. (2018). The Influence of Good Corporate Governance, Leverage, and Profitability on Earning Management with Firm Size as Moderating Variable in the Banking Companies Listed In Indonesia Stock Exchange in the Period of 2012-2016. International Journal of Research & Review (Www.Ijrrjournal.Com), 5(9), 49. www.ijrrjournal.com
Fodio, M. I., Ibikunle, J., & Oba, V. C. (2013). Corporate Governance Mechanisms and Reported Earnings Quality in Listed Nigerian Insurance Firms. International Journal of Finance and Accounting, 2013(5), 279–286. https://doi.org/10.5923/j.ijfa.20130205.01
Ghazali, A. W., Shafie, N. A., & Sanusi, Z. M. (2015). Earnings Management: An Analysis of Opportunistic Behaviour, Monitoring Mechanism and Financial Distress. Procedia Economics and Finance, 28, 190–201. https://doi.org/10.1016/s2212-5671(15)01100-4
Hastuti, C. S. F., Arfan, M., & Diantimala, Y. (2018). The Influence of Free Cash Flow and Operating Cash Flow on Earnings Management at Manufacturing Firms Listed in the Indonesian Stock Exchange. International Journal of Academic Research in Business and Social Sciences, 8(9), 1133–1146. https://doi.org/10.6007/ijarbss/v8-i9/4686
Healy, P. M., & Wahlen, J. M. (1999). A review of the earnings management literature and its implications for standard setting. In Accounting Horizons. https://doi.org/10.2308/acch.1999.13.4.365
Herlambang, A. R. (2017). Analisis Pengaruh Free Cash Flow dan Financial Leverage Terhadap Manajemen Laba dengan Good Corporate Governance Sebagai Variabel Moderasi. JOM, 4.
Hermiyetti, H., & Manik, E. N. (2013). The Influence of Good Corporate Governance Mechanism on Earnings Management: Empirical Study in Indonesian Stock Exchange Listed Company for Periods of 2006-2010. Indonesian Capital Market Review, 5(1). https://doi.org/10.21002/icmr.v5i1.1583
Jensen, M. C., & Meckling, W. H. (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics. https://doi.org/10.1016/0304-405X(76)90026-X
Khanh, M. T. H., & Thu, A. P. (2019). The effect of financial leverage on real and accrual-based earnings management in vietnamese firms. Economics and Sociology, 12(4), 285–298. https://doi.org/10.14254/2071-789X.2019/12-4/18
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
Laily, N. (2017). The Effects of Good Corporate Governance and Audit Quality on Earnings Management Nujmatul Laily. In Journal of Accounting and Business Education (Vol. 2, Issue 1). http://journal.um.ac.id/index.php/jabe/
Liu, S. (2019). Earnings management and institutional investor trading prior to earnings announcements. China Finance Review International, 9(1), 22–50. https://doi.org/10.1108/CFRI-01-2018-0010
Mardjono, E. S., & Chen, Y.-S. (2020). Earning Management and The Effect Characteristics of Audit Committee, Independent Commissioners: Evidence From Indonesia. Research in World Economy, 11(3), 108–123. https://doi.org/10.5430/rwe.v11n3p108
Mardjono, E. S., Chen, Y.-S., & He, L.-J. (2020). Earning Management and The Effect Characteristics of Audit Committee, Independent Commisioners: Evidence From Indonesia. In International Journal of Business and Society (Vol. 21, Issue 2).
Maswadeh, S. (2018). The effect of the ownership structure on earnings management practices. Investment Management and Financial Innovations, 15(4), 48–60. https://doi.org/10.21511/imfi.15(4).2018.04
Nalarreason, K. M., T, S., & Mardiati, E. (2019). Impact of Leverage and Firm Size on Earnings Management in Indonesia. International Journal of Multicultural and Multireligious Understanding, 6(1), 19. https://doi.org/10.18415/ijmmu.v6i1.473
Nguyen, A. H., Nguyen, L. H., & Doan, D. T. (2020). Ownership structure and earnings management: Empirical evidence from Vietnam real estate sector. Real Estate Management and Valuation, 28(2), 37–51. https://doi.org/10.1515/remav-2020-0014
OJK. (2015). No Title. Otoritas Jasa Keuangan.
Oktaviani, H. D. (2014). Pengaruh Ukuran Dewan Direksi, Proporsi Dewan Komisaris Independen, dan Ukuran Komite Audit terhadap Praktik Manajemen Laba pada Perusahaan Farmasi (Vol. 1).
Oktaviani, M., & Mochklas, M. (2020). Free Cash Flow, Size, and Earning Management. Advances in Social Science, Education and Humanities Research, 436. https://doi.org/10.2991/assehr.k.200529.013
Prawida, N., & Sutrisno. (2021). Leverage, Profitability, Corporate Governance Mecanism and Earning Management: Cases in Manufacturing Company in Indonesia Stock Exchange. Asian Management and Business Review, 1(1), 35–45.
Purnama, I., & Nurdiniah, D. (2019). Profitability, Firm Size, and Earnings Management: the Moderating Effect of Managerial Ownership.
Putra, R. N. A. (2019). Good Corpotare Governance dan Manajemen Laba di Perbankan Syariah. Journal of Islamic Finance and Accounting, 2, 19–38. http://ejournal.iainsurakarta.ac.id/index.php/jifa
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
Sari, S. R., & Asyik, N. F. (2013). Pengaruh Leverage dan Mekanisme Good Corporate Governance terhadap Manajemen Laba. Jurnal Ilmu & Riset Akuntansi, 2(6), 1–21.
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Published
2022-01-19
How to Cite
Hendi, H., & Kitty, K. (2022). FAKTOR DETERMINAN MANAJEMEN LABA DENGAN UKURAN PERUSAHAAN SEBAGAI VARIABEL MODERASI. Jurnal Ilmiah Manajemen, Ekonomi, & Akuntansi (MEA), 6(1), 61-82. https://doi.org/10.31955/mea.v6i1.1774
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