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Levers of Control and Managerial Performance: The Importance of Belief Systems Ancella Anitawati Hermawan; Emil Bachtiar; Panggah Tri Wicaksono; Nia Pramita Sari
Gadjah Mada International Journal of Business Vol 23, No 3 (2021): September-December
Publisher : Master in Management, Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22146/gamaijb.62612

Belief systems, which are one of the four levers of control, play a vital role in an organization. This study is primarily aimed at examining the effects of belief systems on managerial performance. Since the four levers of control jointly function in management control systems, we extend our study by investigating whether the contingent-fit between strategic risk, strategic uncertainty, and the other three levers of control (i.e., boundary systems, diagnostic control, and interactive control) strengthens the association between belief systems and managerial performance. A survey questionnaire was distributed to the upper-level management of various companies or strategic business units in Indonesia during the fourth quarter of 2017, resulting in 81 respondents. Hypotheses testing were conducted using the OLS regression model. This research found that belief systems are positively associated with managerial performance, indicating that the implementation of effective belief systems leads to higher managerial performance. This study also found that the contingent-fit between strategic risk, strategic uncertainty, and the other three levers of control does not have any effect on how belief systems are positively associated with managerial performance. This finding indicates that although management does not adopt a fit combination between its level of strategic risk and strategic uncertainty and the boundary systems, diagnostic control, and interactive control, it can still achieve good performance as long as strong belief systems are implemented. These findings confirm the critical role of belief systems in the levers of control. Thus, management needs to ensure the establishment of more effective belief systems if the company or business unit wants to produce optimal performance.

BANK MONITORING AS AN EXTERNAL GOVERNANCE MECHANISM AND THE BORROWERS’ FIRM VALUE Alexandra Ryan Ahmad Dina; Ancella Anitawati Hermawan
Journal of Applied Finance & Accounting Vol. 6 No. 1 (2013): Publish on November 2013
Publisher : Bina Nusantara University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21512/jafa.v6i1.835

The objective of this research is to examine the effect of bank monitoring as an alternative of corporate governance mechanisms on the borrowers’ firm value. The strengths of bank monitoring on the borrowers are measured based on the magnitude of the bank loan, the size of the loan from banks with high monitoring quality, the length of a bank loan outstanding period, and the number of lenders. The research hypotheses were tested using multiple regression model with a sample of 230 companies listed in Indonesia Stock Exchange during 2009. The empirical results show that only the size of the loan from banks with high monitoring quality and the number of lenders significantly influences the borrowers’ firm value. These findings imply that only banks with high monitoring quality could play an important role in the corporate governance and therefore increasing the firm value by their monitoring function. Furthermore, bank monitoring is less effective if a company borrows from many banks, and therefore decreasing the firm value.

Pengaruh Misfit Ketidakpastian Bisnis yang Dipersepsikan dengan Levers of Control Terhadap Kinerja Perusahaan I Made Pradana Adiputra; Lindawati Gani; Hilda Rossieta; Ancella Anitawati Hermawan
Assets: Jurnal Akuntansi dan Pendidikan Vol 8, No 2 (2019)
Publisher : Universitas PGRI Madiun

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.25273/jap.v8i2.4435

ABSTRAKPenelitian ini bertujuan untuk memberikan bukti empiris tentang pengaruh misfit ketidakpastian bisnis yang dipersepsikan dengan sistem pengendalian manajemen (levers of control) terhadap kinerja keuangan dan kinerja non-keuangan hotel di Bali. Sampel penelitian adalah hotel klasifikasi bintang 1 sampai 5. Responden adalah manajer yang ditentukan melalui purposive sampling. 181 manajer berpartisipasi dengan mengembalikan kuesioner. Pengujian hipotesis penelitian menggunakan analisis regresi misfit residual dengan program SPSS. Hasil penelitian menunjukkan bahwa pengaruh misfit ketidakpastian bisnis yang dipersepsikan dengan sistem pengendalian manajemen memiliki pengaruh negatif terhadap kinerja keuangan dan kinerja non-keuangan. Analisis sensitivitas menggunakan pengukuran lain sistem pengendalian manajemen konsisten dengan hasil utama.ABSTRACTThis study aims to provide empirical evidence about the effect of misfit business uncertainty perceived by management control systems (levers of control) has a negative influence on financial performance and non-financial performance of hotels in Bali. The research sample is a 1 to 5 star classification hotel. Respondents are managers who are determined through purposive sampling. 181 managers participated by returning the questionnaire. Testing the research hypothesis using regression analysis of residual misfit with the SPSS program. The results showed that the effect of business uncertainty misfit perceived by management control systems had a negative influence on financial performance and non-financial performance. Sensitivity analysis uses other measurement management control systems consistent with the main results.

Risk Management Analysis Based on Environmental and Social Aspects Case: PT A Permata Kardina Putra; Ancella Anitawati Hermawan
Budapest International Research and Critics Institute (BIRCI-Journal): Humanities and Social Sciences Vol 4, No 4 (2021): Budapest International Research and Critics Institute November
Publisher : Budapest International Research and Critics University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33258/birci.v4i4.3358

This study aims to analyze environmental and social risk management in fertilizer companies. Environmental and social aspects are essential for fertilizer companies because chemicals as the primary raw material risk pollution to the environment. In addition to the environmental impact, the Company also has a potential impact from business activities on employees and the surrounding community. Companies need to implement risk management related to environmental and social aspects in an orderly manner. This study uses qualitative methods using interviews and documentation. The study results indicate that the Company has made efforts to carry out risk management related to social and environmental aspects. However, companies in implementing environmental performance are carried out partially so that the measurement of sustainability strategies does not include environmental and social factors as key performance indicators. The absence of key performance indicators for environmental and social aspects impacts the Company's ineffectiveness in managing environmental and social risks. Companies need to make key performance indicators based on social and environmental elements to achieve sustainability goals.

DETECTING OF BOND DEFAULTS INDICATIONS USING FINANCIAL STATEMENT AND SHENANIGANS INDICATORS Arya Wedha Rieantiari; Ancella Anitawati Hermawan
AFEBI Accounting Review Vol 5, No 2 (2020)
Publisher : Asosiasi Fakultas Ekonomi dan Bisnis Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47312/aar.v5i02.310

This study aims to detect indications of bond defaults by conducting a thorough analysis of PT Trikomsel Oke, Tbk (TRIO)'s financial statements. TRIO's financial statements show that the company's revenue and profits increased during 2009-2014. However, the Indonesia rating agency (PEFINDO) declared default on the two bonds issued by TRIO in November 2015, even though the signal TRIO gave to its financial statements was an unqualified opinion from one of the big 4 Public Accountants for six consecutive years and PEFINDO's investment grade. This study uses a case study method.. Financial report data are analyzed by financial ratios and financial indicators of shenanigans. Evidence shows that there are indications of creative accounting and shenanigans before bonds were declared defaulted in 2015. With these results, this study suggests investors and creditors be more vigilant in analyzing published annual reports

Evaluasi Pengendalian Internal atas Aset Tetap pada PT WAN: Case Study of PT WAN, Logistics Company Rika Lestari; Ancella Anitawati Hermawan
Owner : Riset dan Jurnal Akuntansi Vol. 7 No. 4 (2023): Article Research Volume 7 Nomor 4 Oktober 2023
Publisher : Politeknik Ganesha Medan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33395/owner.v7i4.1733

This research aims to evaluate the implementation of the concept of internal control within the COSO framework for the procurement and management of fixed assets in an effort to increase the reliability of financial reports. PT WAN is a logistics service provider company by providing land transportation services. Dump trucks and heavy equipment are important components in business activities. Several incidents of errors in fixed assets such as discrepancies in recording and asset ownership status, also inadequate documentation. In addition, other fixed assets also have problems such as unrecorded and depreciated assets and ignorance of the acquisition value of assets. This made PT WAN have to initiate the right steps to suppress the problem. This study uses a case study method with a qualitative approach. The processed data is obtained from interviews, conducts observations, analysis internal documents and then evaluated based on COSO 2013 principles. The results showed that there are still deficiencies in internal control over the procurement and management of the company's fixed assets. These weaknesses are the unorganized flow of procurement, recording and sale of assets, not recording of all fixed assets, and lack of knowledge about the process of procuring and recording fixed assets. PT WAN must establish formal documents related to SOPs of fixed assets, labeling the company's equipment and tools, carrying out stock taking of fixed assets every month, re-managing data on all of the company's fixed assets, adding accounting personnel and providing training.

Detecting of Bond Defaults Indications Using Financial Statement and Shenanigans Indicators Arya Wedha Rieantiari; Ancella Anitawati Hermawan
AFEBI Accounting Review Vol. 5 No. 2 (2020): December
Publisher : Asosiasi Fakultas Ekonomi dan Bisnis Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47312/aar.v5i02.310

This study aims to detect indications of bond defaults by conducting a thorough analysis of PT Trikomsel Oke, Tbk (TRIO)'s financial statements. TRIO's financial statements show that the company's revenue and profits increased during 2009-2014. However, the Indonesia rating agency (PEFINDO) declared default on the two bonds issued by TRIO in November 2015, even though the signal TRIO gave to its financial statements was an unqualified opinion from one of the big 4 Public Accountants for six consecutive years and PEFINDO's investment grade. This study uses a case study method.. Financial report data are analyzed by financial ratios and financial indicators of shenanigans. Evidence shows that there are indications of creative accounting and shenanigans before bonds were declared defaulted in 2015. With these results, this study suggests investors and creditors be more vigilant in analyzing published annual reports

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