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PENGARUH KUALITAS LABA PADA YIELDS OBLIGASI DENGAN CORPORATE GOVERNANCE SEBAGAI VARIABEL PEMODERASI ELIADA HERWIYANTI; ZAKI BARIDWAN
Jurnal Bisnis dan Akuntansi Vol 10 No 2 (2008): Jurnal Bisnis dan Akuntansi
Publisher : Pusat Penelitian dan Pengabdian Masyarakat Sekolah Tinggi Ilmu Ekonomi Trisakti

The objective of this research is to study the effect of earnings quality to bond yields, and whether the effect of earnings quality to bond yields can be moderated by corporate governance. In this paper, earnings quality was proxied by discretionary accruals. Yield to maturity approximation was used to count the bond yields. The proxies of corporate governance are institutional ownership and outside director. This research is using purposive sampling method to choose the sample. From six years observation period, 153 observation bonds obtained. To test the hypothesis, this research using logistic regression. This research indicated that model of logistic regression is fit, although the result for hypothesis examination not significant. The lowest Nagelkerke’s R2 value indicated that other variables which not include in this research may have contribution for the research model. Result of this research could be happened because of the naive behavior from investor it-self, the characteristic of bond market, less familiarity of corporate governance regulation, or may be from the lack of variable used in the research model.

PENGARUH KONSERVATISME AKUNTANSI PADA ASIMETRI INFORMASI Sri Ruwanti; Zaki Baridwan
Wahana: Jurnal Ekonomi, Manajemen dan Akuntansi Vol 14, No 1 (2011)
Publisher : Akademi Akuntansi YKPN Yogyakarta

Penelitian ini bertujuan untuk menguji pengaruh konservatisma akuntansi pada asimetri informasi. Penarikan sampel dengan menggunakan metode purposive sampling menghasilkan sampel sebanyak 85 perusahaan, dari tahun dari tahun 2007 sampai dengan 2009. Data diperoleh dari berbagai sumber yaitu website Bursa Efek Indonesia, Pusat Data Ekonomi dan Bisnis Fakultas Ekonomika dan Bisnis UGM dan dari OSIRIS. Data diuji menggunakan regresi linier. Penelitian ini dimotivasi oleh penelitian Lafond dan Watts (2008) yang menemukan hasil bahwa asimetri informasi berhubungan secara positif dengan konservatisma. Hasil dari penelitian ini menunjukkan tidak ada pengaruh konservatisma akuntansi pada asimetri informasi. Hal ini berarti bahwa tindakan perusahaan untuk bersikap konservatif ataupun tidak, tidak mempengaruhi perilaku investor atas investasinya. Selain itu juga, kemungkinan disebabkan karena investor mempertimbangkan variabel-variabel lain atas tindakan investasinya.Kata kunci: Konservatisma akuntansi, Asimetri informasi

ACCOUNTING FUNDAMENTALS AND VARIATIONS OF STOCK PRICE: METHODOLOGICAL REFINEMENT WITH RECURSIVE SIMULTANEOUS MODEL Sumiyana Sumiyana; Zaki Baridwan
Journal of Indonesian Economy and Business (JIEB) Vol 28, No 1 (2013): January
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

This study investigates association between accounting fundamentals and variations of stock prices using recursive simultaneous equation model. The accounting fundamentals consist of earnings yield, book value, profitability, growth opportunities and discount rate. The prior single relationships model has been investigated by Chen and Zhang (2007), Sumiyana (2011) and Sumiyana et al. (2010). They assume that all accounting fundamentals associate direct-linearly to the stock returns. This study assembles that all accounting fundamentals should associate recursively.This study reconstructs the model and found that only the first two factors could influence stock returns directly, while the three remaining factors should relate precedently to the earnings yield and book value. This study suggests that new reconstructed relationships among accounting fundamentals could decompose association degree between them and the movements of stock prices. Finally, this study concludes that this methodological refinement would improve the ability of predicting stock prices and reduce stock price deviations. It implies that accounting fundamentals actually have higher value relevance in the new recursive simultaneous equation model than that in single equation model. It also entails that relationship decompositions revitalize the integration of the adaptation and the recursion theories.

PERKEMBANGAN TEORI DAN PENELITIAN AKUNTANSI Zaki Baridwan
Journal of Indonesian Economy and Business (JIEB) Vol 15, No 4 (2000): October
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (203.008 KB)

The article discusses development in accounting theory and research. Accounting theory was developed later than the practice of double entry bookkeeping. In the early part of the accounting theory development, accounting experts developed the normative theory. The development of positive accounting theory came later. Improvement of theory was performed through research in accounting. As was in the development of accounting theory, development in the accounting research was also started in very simple, non-formal investigation apprroach. The use of deductive and inductive approach resulted in the development of descriptive/positive accounting theory. Accounting theory and research was developed in many different areas, using different theories and concepts from different disciplines such as economics, finance, psychology, sociology etc. The use of those broad concepts as background improved the speed of accounting theory development in the later years. Now we could see that accounting theory is used to explain and predict different phenomena based on results of accounting research that employs concepts from many different disciplines.

ANALISIS NILAI TAMBAH INFORMASI LAPORAN ARUS KAS Zaki Baridwan
Journal of Indonesian Economy and Business (JIEB) Vol 12, No 2 (1997): April
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (2607.239 KB)

The Indonesian Institute of Accountants published the Statement ofFinancial Accounting Standards No.Z "Cash Flow Statement" requires companies to publish the Cash Flow Statement starts in 1994. Similar requirement has also been required by the Financial Accounting Standards Board of the USA in 1989. The required Cash Flow Statement contains cash flow information, separated into Total Cash Flow, Cash Flow From Operations, Cash Flow From Investing Activities, and Cash Flow From Financing Activities. The financial statements issued periodically by companies now consist of a balance sheet, an incomestatement, a statement of retained earnings, and a cash flow statementCash Flow Statement could be prepared based on two differentapproaches, direct and indirect methods. The indirect method of preparing cash flow statement is performed by adjusting profit or loss amount in the income statement bynoncash transactions, investment and financing activities. By using this method, therefore, cash flow information logically will have relationships with income statement information, at least cash flow from operation with incomefrom operation. The problem is, publication of cash flow statement is expected to add value to the users of financial statements. If the new information is related to information that is already provided by the income statement, then, the objectives of issuing cash Sow statement would not be achieved. This study evaluates relationships and similarity of the two information (Le. income statement and cash Sow) using data from 62 public manufacturing companies. The results of conelation and Wilcoxon Signed Rank tests show that income statements information is highly conelated but do have significant differences with cash Bow information. Therefore, the conclusion is that there is additional value mat is obtained by users of financial statements. The accounting authority has conectly requires the publication of cash flow statement.

Kemampuan Laba dan Arus Kas dalam Memprediksi Laba dan Arus Kas Perusahaan Go Publik di Indonesia Parawiyati Parawiyati; Zaki Baridwan
The Indonesian Journal of Accounting Research Vol 1, No 1 (1998): JRAI January 1998
Publisher : The Indonesian Journal of Accounting Research

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33312/ijar.1

Financial accounting information is used by potential users to make necessary economic decisions. Earnings and cash flow are some of the measure that show a firms successful management. Earnings are useful for measuring a firms performance, and estimating the representative earning, the risk of investing and the cash flow information key measures of liquidity. Accounting information, is not yet one of the fundamental analysis tools for trading in Indonesian Capital Market. However, with increased development, accounting information will be necessary for making important decisions in the capital market.The objective of the study was to test the relationship of the ability of financial information in predicting the benefit of equity investment that consists of earnings and cash flow. The first hypothesis is earning predictor is better than cash flow predictor to predict future earning. Second, earning predictor is better than cash flow predictor to predict future to predict future cash flow. Lastly, earnings have incremental prediction ability to cash flow.There were 288 financial statements of manufacturing firms for the period of 1989-1994 include as a sample. Earnings data used in the tests is from the period of 1989-1994 and cash flow data is from 1992-1994 period. The statistical method used in this research is linear regression. then T-test, regression coefficient, correlation determination and F-test on the 5% level significance. The autocorrelation tests show that there is no linear relationship between independent variables, and that there was no correlation between disturbance factors, because the Durbin Waston test shows value of 2.The statistical results show that earning predictor and cash flow predictor are both significant in predicting earning and cash flow one year ahead, The ability of earning predictor in predicting earning and cash flow is bigger than cash flow predictor, this is shown with the regression coefficient. Then is showed that a part from earnings being a tool for predicting earnings, it can be predict cash flows. The results of this research also show F-test is significant, which means that both predictors, earning and cash flow can be used for predicting earning and cash flow efficiently.Key Words: Auditors Ethical Orientation, Ethical Sensitivity, Professional Commitment, Organization Commitment

Pengaruh Pengumuman Right Issue terhadap Tingkat Keuntungan dan Likuioditas Saham di Bursa Efek Jakarta Periode 1994 – 1996 Arief Budiarto; Zaki Baridwan
The Indonesian Journal of Accounting Research Vol 2, No 1 (1999): JRAI January 1999
Publisher : The Indonesian Journal of Accounting Research

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33312/ijar.24

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Analisis Perataan Penghasilan (Income Smoothing): Faktor-Faktor yang Mempengaruhi dan Kaitannya dengan Kinerja Saham Perusahaan Publik di Indonesia Hanna Meilani Salno; Zaki Baridwan
The Indonesian Journal of Accounting Research Vol 3, No 1 (2000): JRAI January 2000
Publisher : The Indonesian Journal of Accounting Research

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33312/ijar.35

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’ stocks 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 then 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 rejected. 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.

Do the Framing Effect Occur in the Investment Decision Based on Tabular Format Information Risk: A Fuzzy-Trace Theory Framework? Negina Kencono Putri; Zaki Baridwan; Supriyadi Supriyadi; Ertambang Nahartyo
The Indonesian Journal of Accounting Research Vol 17, No 1 (2014): IJAR January 2014
Publisher : The Indonesian Journal of Accounting Research

Abstract: This study tests on investment decisions based on risk information within the framework of verification Fuzzy Trace Theory (FTT). FTT assumes individuals prefer to use the simple reason that in the presentation of information and make a decision. An experiment which involved 27 participants was conducted. The experiments carried out to test whether the risk information of different frame-sequential time given concerning the framing effect described through the framework of FTT-can affects investment decision-making process. The results showed that the participants in this study chose to perform actions that are not at risk when information is presented in a positive frame. Investment decisions which they set such decisions tend to avoid risk. This is consistent with FTT are focusing testing on the frame problem. Other findings obtained in this study in the form of the tendency of the experimental participants to take risky decisions when information is presented in a negative frame. Abstrak: Penelitian ini berutjuan untuk menguji keputusan investasi berbasis risiko dalam kerangka Fuzzy Trace Theory (FTT). FTT mengasumsikan bahwa seseorang memiliki preferensi untuk menggunakan informasi yang ditamilkan dalam bentuk yang sederhana dalam membuat sebuah keputusan. Penelitian ini merupakan penelitian eksperimen yang melibatkan 27 orang partisipan. Eksperimen yang dilakukan menguji apakah informasi risiko yang dibingkai secara berbeda dan disampaikan dalam waktu yang berurutan dalam kerangka FTT akan mempengaruhi proses pembuatan keputusan investasi Hasil penelitian menunjukkan bahwa partisipa dalam penelitian ini memilih untuk mengambil keputusan yang tidak berisiko bila informasi disampaikan dalam frame yang positif. Hasil lain yang diperoleh dalam penelitian ini adalah bahwa seseorang cenderung untuk mengambil keputusan yang berisiko apabila informasi disampaikan dalam frame yang negatif.

The Presence of Earnings Manipulation Incentives as a Prerequisite for the Benefits of Higher-Quality Audit to be Realized: The Case of Indonesia ARIE RAHAYU HARIANI; Zaki Baridwan
The Indonesian Journal of Accounting Research Vol 13, No 3 (2010): IJAR September 2010
Publisher : The Indonesian Journal of Accounting Research

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33312/ijar.230

This paper examines the interaction between the incentives that drives earnings manipulation and the audit practice that deters it. Accountants tend to overlook earnings manipulation incentives while overemphasizing audit quality. This notion is verified from public auditors' predisposition to prescribe restrictive standards to enhance audit quality every time a financial scandal occurs. Evidence supports our hypotheses that the benefits of higher-quality audit could be realized only if the earnings manipulation exists at the first place. Incentives for conducting earnings management are demonstrated to be a strong predictor in determining the occurrences or attempts to engage in earnings manipulation. Earnings management incentives can also be determined before the audit is conducted.

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