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The impact of gender diversity in the boardroom on banks performances Siti Farhana
Jurnal Keuangan dan Perbankan Vol 24, No 4 (2020): October 2020
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/jkdp.v24i4.4676

This research examined the impact of gender diversity in the boardroom on firm performance using banks listed on the Indonesia Stock Exchange (IDX) in the period from 2011 to 2016. Indonesia listed companies have a two-tier board structure that consist of management and supervisory board. In addition, listed companies should establish a committee board that consists of independent directors from outside the company. Thus, we investigate the gender diversity from each boardroom namely management, supervisory, and committee board. Gender diversity is measured by the Blau Index while bank’s financial performances are proxied by the Return on Assets (ROA) and Capital Adequacy Ratio (CAR). These two measurements are required by Indonesian Financial Service Authority or Otoritas Jasa Keuangan (OJK). We find that the average proportion of female directors sitting on management, supervisory, and committee board in banks are 16 percent, 9.7 percent, and 14 percent, respectively. Applying panel data analysis with fixed and random effect estimator and also addressing endogeneity issue, we find that there is no significant relationship between gender diversity indexes in each boardroom and both bank’s financial performance ROA and CAR. These findings may shed a light for regulator in Indonesia especially OJK whether they consider imposing gender quota in the boardroom. JEL Classification: G20, M41, M48DOI: https://doi.org/10.26905/jkdp.v24i4.4676

RELEVANSI NILAI LAPORAN KEBERLANJUTAN DI INDONESIA Siti Farhana; Yang Elvi Adelina
Jurnal Akuntansi Multiparadigma Vol 10, No 3 (2019): Jurnal Akuntansi Multiparadigma
Publisher : Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/ub.jamal.2019.10.3.36

Abstrak: Relevansi Nilai Laporan Keberlanjutan di Indonesia. Penelitian ini bertujuan untuk menguji apakah laporan keberlanjutan memiliki relevansi nilai bagi investor dan mempengaruhi nilai perusahaan. Regresi berganda model Ohlson digunakan sebagai metode dengan 38 perusahaan terbuka di tahun 2014-2017 sebagai sampel. Hasil penelitian menujukkan bahwa investor menggunakan laporan keberlanjutan sebagai informasi yang bernilai tambah dalam membuat keputusan investasi. Para investor saat ini tidak hanya berfokus kepada keuntungan jangka pendek atau laba perusahaan, tetapi juga keberlanjutan dan keuntungan jangka panjang perusahaan agar dapat memuaskan semua stakeholders. Oleh karena itu, regulator diharapkan segera mencanangkan regulasi yang memadai terkait pengungkapan dalam laporan keberlanjutan. Abstract: The Value Relevance of Sustainability Reports in Indonesia. This study aimed to examine whether sustainability reports have value relevance for investors and affect the value of the company. Ohlson's multiple regression model was used as a method with 38 listed companies in 2014-2017 as a sample. The results showed that investors use sustainability reports as value-added information in making investment decisions. Investors currently focused not only on short-term profits or corporate profits but also on the company's long-term sustainability and earnings to satisfy all stakeholders. Therefore, the regulator must issued adequate regulations related to disclosures in the sustainability report.

The Impact of Ownership Structure on the Indicator of Financial Distress In Indonesian Companies Annither Annither; Michael Kester Johann; Athalia Ariati Hidayat; Siti Farhana
Jurnal Akuntansi dan Bisnis Vol 20, No 2 (2020)
Publisher : Accounting Study Program, Faculty Economics and Business, Universitas Sebelas Maret

The increase in bankruptcy cases and delaying debt repayment by 16.43 percent during the year of 2015 to 2017 reinforced the importance of having good corporate governance to avoid this issue. This study aims to delve into the effect of ownership structures on the risk of financial distress in 421 companies (except financial institu-tions) in the period from 2012 to 2017. The types of ownership that are being exam-ined are Institutional Ownership, Insider Ownership, Government Ownership, and Foreign Ownership. This study uses OLS Driscoll-Kraay standard error panel data regression. The results of this study shows that Institutional Ownership has a positive relationship to financial distress which is caused by the tendency of Institutional in-vestors to conduct passive monitoring. Inversely, foreign ownership and government ownership have been proven to have a negative relationship with the risk of financial distress. This was caused by the capability of the foreign investors to do better- moni-toring activities and maintain the ultimate shareholder’s company in their home country. Furthermore, the presence of merah putih shares allows the government to have absolute voting power. This research intends to provide new business perspec-tives to companies, investors, regulators, creditors, and other stakeholders for eco-nomic decision- making purposes. Peningkatan perkara kepailitan dan penundaan kewajiban pembayaran utang sebe-sar 16.43 persen sepanjang tahun 2015-2017 menyadarkan kembali pentingnya tata kelola yang baik untuk menghindari hal tersebut. Penelitian ini mempelajari pengaruh struktur kepemilikan terhadap risiko kesulitan keuangan di perusahaan terhadap 421 perusahaan (kecuali lembaga keuangan) pada tahun 2012-2017. Jenis-jenis kepemilikan yang diteliti adalah kepemilikan institusional, kepemilikan manajerial, kepemilikan pemerintah, dan kepemilikan asing. Hal yang ditemui dari hasil penelitian ini yaitu dapat dibuktikan bahwa kepemilikan institusional memiliki hubungan positif terhadap risiko kesulitan keuangan yang disebabkan oleh kecender-ungan investor institusional untuk melakukan passive monitoring. Sebaliknya kepemilikan asing dan kepemilikan pemerintah terbukti memiliki hubungan negatif terhadap risiko kesulitan keuangan, dengan alasan kemampuan investor asing dalam melakukan kontrol dan menjaga reputasi perusahaan di negara asalnya. Sedangkan, pemerintah memiliki voting power yang bersifat mutlak dengan adanya saham merah putih. Penelitian ini bermaksud untuk memberikan perspektif baru kepada pihak-pihak yang berkepentingan untuk pengambilan keputusan ekonomi.

Karakteristik Dewan dan Kinerja Keuangan Perusahaan di Indonesia Dheani Nadya Karinda; Felicia Suranto; Rinaningsih Rinaningsih; Siti Farhana
Journal of Accounting and Management Innovation Vol 6 No 1 (2022)
Publisher : Universitas Pelita Harapan Medan Campus

Show Abstract | Download Original | Original Source | Check in Google Scholar

Karakteristik dewan memiliki peran yang penting dalam mengimplementasikan tata kelola perusahaan dan dapat meningkatkan kinerja perusahaan. Penelitian ini bertujuan untuk menginvestigasi hubungan antara karakteristik dewan terhadap kinerja keuangan pada perusahaan di Indonesia. Karakteristik dewan dalam penelitian ini diukur melalui jumlah dewan direksi, proporsi komisaris independen, kepemilikan manajerial, tingkat pendidikan CEO, dan masa jabatan CEO. Sedangkan kinerja keuangan diukur melalui Return on Asset dan Return on Equity. Terdapat empat variabel kontrol yaitu ukuran perusahaan, umur perusahaan, leverage, dan pertumbuhan penjualan. Penelitian ini menggunakan analisis regresi linear berganda dengan jumlah 1.562 observasi dari 314 perusahaan non-keuangan yang tercatat di Bursa Efek Indonesia pada tahun 2015-2019. Hasil penelitian adalah semakin tinggi proporsi komisaris independen akan menyebabkan kinerja perusahaan semakin rendah. Namun, penelitian ini tidak menemukan adanya pengaruh antara jumlah dewan direksi, kepemilikan manajerial, tingkat pendidikan CEO dan masa jabatan CEO terhadap kinerja perusahaan. Sedangkan untuk variabel kontrol yaitu ukuran perusahaan dan pertumbuhan penjualan semakin tinggi akan menyebabkan kinerja semakin tinggi. Lalu umur perusahaan dan leverage berpengaruh negatif signifikan terhadap kinerja perusahaan. Hasil penelitian ini dapat menjadi referensi dan memberikan pandangan yang lebih mendalam lagi mengenai hubungan antara karakteristik dewan dengan kinerja perusahaan. Penelitian ini juga menemukan bahwa masih ada perusahaan yang belum menaati jumlah minimal proporsi komisaris independen yang sebesar 30%.Kata kunci: karakteristik dewan, kepemilikan manajerial, tingkat pendidikan, masa jabatan, kinerjaperusahaan.

Pengaruh Audit Tenure Terhadap Kualitas Audit pada Perusahaan Terbuka di Indonesia Angela Angela; Marceline Miharja; Wijantini Wijantini; Siti Farhana
Studi Akuntansi dan Keuangan Indonesia Vol 2 No 2 (2019): Studi Akuntansi dan Keuangan Indonesia (SAKI)
Publisher : Universitas Prasetiya Mulya

This paper focuses on analyzing the effect of audit tenure on firm and audit partners on audit quality in non-financial publicly listed companies in Indonesia in the period of 2008 until 2014. The research is motivated by the inconsistent results of previous research in Indonesia and also in other countries. The audit quality is measured by the absolute discretionary accrual proxy using the Modified Jones model (1995). Fundamentally, audit quality describes the results of the performance of independent auditor which is one form of monitoring cost on agency theory. The results show the negative significant relationship between audit firm tenure to audit quality, in line with research from Junaidi et al. (2012), among others. On the other hand, there was no significant relationship between audit partner tenure and audit quality, similar to research from Blandon & Bosch (2017), among others. The result also supported by two types of robustness test. First, using the same model with different period has a negative significant result on audit firm tenure while there was no significant effect on audit partner tenure. Second robustness test using t-test for audit partner tenure on year 1 and 3, and the result shows there is no significant difference in audit quality. The result will be useful as consideration for regulators to concern more to the effect of audit firm tenure compared to tenure partner. keywords: accrual discretionary, audit firm tenure, audit partner tenure, audit tenure, audit quality https://doi.org/10.21632/saki.2.2.224-250

Analisis Intention Mahasiswa Memilih Program Studi Akuntansi Menggunakan Theory of Plan Behavioral Christopher Ryan Julian; Nathania Nathania; Golrida Karyawati P; Siti Farhana
Studi Akuntansi dan Keuangan Indonesia Vol 2 No 2 (2019): Studi Akuntansi dan Keuangan Indonesia (SAKI)
Publisher : Universitas Prasetiya Mulya

This study aims to analyze student intentions in choosing an accounting major using Theory of Plan Behavior (TPB). TPB is used to determine whether the decision to take education in an accounting study program is a momentary decision or is the result of the behavior of the plan. This study is important given the issues regarding the industrial revolution 4.0. currently it is feared that it threatens the existence of accounting study programs in Indonesia. This study conducted a survey of 10 college majoring in accounting students in Greater Jakarta in Indonesia. Regression models are used to analyze the influence of attitudes, subjective norms and behavioral control in determining intentions to choose an accounting major. The results showed that the decision to choose an accounting major was based on intentions generated from the plan behaviour. The analysis also found that students with a science education background also chose accounting majors. The results of this study are expected to provide confidence to institutions that hold accounting study programs in carrying out their programs and adapt to changes caused by the industrial revolution 4.0. Keywords: Attitude, behavioral control, intention, Theory of Planned Behaviour (TPB), subjective norm https://doi.org/10.21632/saki.2.2.277-298

Karakteristik Dewan dan Kinerja Keuangan Perusahaan di Indonesia Dheani Nadya Karinda; Felicia Suranto; Rinaningsih Rinaningsih; Siti Farhana
Journal of Accounting and Management Innovation Vol 6 No 1 (2022)
Publisher : Universitas Pelita Harapan Medan Campus

Show Abstract | Download Original | Original Source | Check in Google Scholar

Karakteristik dewan memiliki peran yang penting dalam mengimplementasikan tata kelola perusahaan dan dapat meningkatkan kinerja perusahaan. Penelitian ini bertujuan untuk menginvestigasi hubungan antara karakteristik dewan terhadap kinerja keuangan pada perusahaan di Indonesia. Karakteristik dewan dalam penelitian ini diukur melalui jumlah dewan direksi, proporsi komisaris independen, kepemilikan manajerial, tingkat pendidikan CEO, dan masa jabatan CEO. Sedangkan kinerja keuangan diukur melalui Return on Asset dan Return on Equity. Terdapat empat variabel kontrol yaitu ukuran perusahaan, umur perusahaan, leverage, dan pertumbuhan penjualan. Penelitian ini menggunakan analisis regresi linear berganda dengan jumlah 1.562 observasi dari 314 perusahaan non-keuangan yang tercatat di Bursa Efek Indonesia pada tahun 2015-2019. Hasil penelitian adalah semakin tinggi proporsi komisaris independen akan menyebabkan kinerja perusahaan semakin rendah. Namun, penelitian ini tidak menemukan adanya pengaruh antara jumlah dewan direksi, kepemilikan manajerial, tingkat pendidikan CEO dan masa jabatan CEO terhadap kinerja perusahaan. Sedangkan untuk variabel kontrol yaitu ukuran perusahaan dan pertumbuhan penjualan semakin tinggi akan menyebabkan kinerja semakin tinggi. Lalu umur perusahaan dan leverage berpengaruh negatif signifikan terhadap kinerja perusahaan. Hasil penelitian ini dapat menjadi referensi dan memberikan pandangan yang lebih mendalam lagi mengenai hubungan antara karakteristik dewan dengan kinerja perusahaan. Penelitian ini juga menemukan bahwa masih ada perusahaan yang belum menaati jumlah minimal proporsi komisaris independen yang sebesar 30%.Kata kunci: karakteristik dewan, kepemilikan manajerial, tingkat pendidikan, masa jabatan, kinerjaperusahaan.

THE EFFECT OF FREE CASH FLOW ON ASSET UTILIZATION WITH OWNERSHIP STRUCTURES AS MODERATING VARIABLES Elizabeth Nathania; Samuel Putera; Siti Farhana; Wijantini Wijantini
JURNAL AKUNTANSI DAN AUDITING Volume 16, Nomor 2, Tahun 2019
Publisher : Department of Accounting, Faculty of Economics & Business,Diponegoro University, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14710/jaa.16.2.1-17

This study aims to examine how free cash flow (FCF) affects on asset utilization (AU) as a proxy for agency cost, followed by investigating the influence of ownership structures as moderating variables in reducing the negative effect of FCF on asset utilization. The research sample of 465 companies consisted of all companies listed on the Indonesia Stock Exchange in 2013-2017 with purposive sampling method. The findings of this study showed that FCF negatively influences AU). Institutional ownership weakens the negative relationship between FCF and AU. Contrarily, managerial ownership strengthens the negative relationship between FCF and AU. This study also found that family ownership strengthens the negative relationship between FCF and AU. This study contributes to understanding the role of various ownership structures in utilizing company's resources to improve their asset utilization, especially in the family ownership that dominates Indonesian firms.

Pengaruh Transaksi Pihak Berelasi Terhadap Performa Perusahaan Sektor Basic Materials di Indonesia Widya Pranita; Leticia Yaputri; Siti Farhana; Daniel Daniel
Jurnal Kajian Akuntansi Vol 7, No 1 (2023): JUNI 2023
Publisher : Universitas Swadaya Gunung Jati

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33603/jka.v7i1.7754

AbstractThis study was conducted to determine the effect of related party transactions on company performance measured by return on assets (ROA) and Tobin's Q (TQ). Seeing that there are shortcomings in previous research, this study specifies related party transactions (RPT) into four types of transactions, namely sales, purchases, accounts receivable, and payables, and focuses the scope of research using only the basic materials sector. The sample consisted of 30 companies in the basic materials sector listed on the Indonesia Stock Exchange in 2015-2020, with a total of 180 observations. This study was carried out with two regression models, and several sensitivity tests to see differences in results with the main model. As a result, related party transactions do not have a significant effect on TQ, but there is a negative effect between sales transactions on ROA. The limitation of this study is the assumption that stock prices strongly react to the company's financial performance and do not carry out an analysis as a whole group or do not differentiate transactions made by subsidiaries or parent companies. This research is expected to provide new understanding to companies, investors, regulators, and academics regarding the effect of related party transactions on company performance.Keywords: Basic material sector; Performance; Related party transactions; ROA; Tobin’s Q Religiosity. AbstrakPenelitian ini dilakukan untuk mengetahui pengaruh transaksi pihak berelasi terhadap performa perusahaan yang diukur menggunakan return on aseet (ROA) dan Tobin’s Q (TQ). Melihat bahwa adanya kekurangan dalam penelitian sebelumnya, maka penelitian ini menspesifikasi transaksi pihak berelasi (RPT) menjadi empat jenis transaksi yaitu penjualan, pembelian, piutang, dan utang serta memfokuskan lingkup penelitian dengan hanya menggunakan sektor basic materials. Sampel yang digunakan pada penelitian ini, terdiri atas 30 perusahaan yang termasuk pada sektor basic materials dan terdaftar pada Bursa Efek Indonesia pada tahun 2015-2020, sehingga terdapat 180 observasi. Penelitian ini dijalankan dengan dua model regresi yang berbeda, serta melaksanakan beberapa uji sensitivitas untuk melihat perbedaan hasil dengan model utama. Sebagai hasil penelitian, ditemukan bahwa transaksi pihak berelasi tidak memiliki pengaruh yang signifikan terhadap TQ, namun terdapat pengaruh yang negatif antara transaksi penjualan terhadap ROA. Penelitian ini diharapkan mampu memberikan pemahaman baru kepada perusahaan, investor, regulator dan akademisi mengenai pengaruh transaksi pihak berelasi terhadap performa perusahaan.Kata Kunci: Performa perusahaan; ROA; Sektor bahan baku; Tobin’s Q; Transaksi pihak berelasi.

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