Faktor-Faktor yang Mempengaruhi Penyelesaian Penyajian Laporan Keuangan pada Perusahaan yang Terdaftar Di BEJ

Penelitian ini telah Dipresentasikan pada Seminar Nasional Good  Corporate Governance di Universitas Trisakti – Jakarta  (24 – 25 November 2006)

Abstract: This research has a purpose to provide empirical evident about factors that affect the finalization of the financial statement.  The examined factors on this research are firm size, profitability ratio, solvability ratio, liquidity ratio, firm age and extra ordinary items. The samples consist of 131 firms from 2002 through 2004 and still listed. The statistic method used to test on the research hypothesis is multiple regression. The result show that factors that affect the finalization of the financial statement are firm size and firm age, and the others factors like profitability ratio, solvability ratio, liquidity ratio and extra ordinary items not affect the finalization of the financial statement. 

Keywords: finalization of financial statement, financial ratios, extra ordinary items, multiple regression.

Artikel Penelitian Lengkap dapat Didownload disini -> penelitian-penyelesaian-lk.pdf

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Pengaruh Konservatisma, Pertumbuhan, Beta, Struktur Modal dan Ukuran Perusahaan terhadap ERC Perusahaan Manufaktur Go Publik

Oleh: Luciana Spica Almilia & Yuliati (STIE Perbanas Surabaya) 

Penelitian ini telah Dipresentasikan pada Seminar Nasional Good  Corporate Governance di Universitas Trisakti – Jakarta  (24 – 25 November 2006)

This research aims at providing empirical evidance on factors include of conservatism, growth, beta, capital structure dan size that affect earnings response coefficient (ERC). Using a sample of 39 firms from Jakarta Stock Exchange (JSX) that release annual financial statement of 2002, 2003 and 2004. Multiple linier regression is used to test the hypothesis. It is hypothised that conservatism, growth, beta, capital structure dan size affect earnings response coefficient (ERC).

The result show that only three variables include conservatism, growth dan size that affect earnings response coefficient (ERC). The other findings of this research that conservatism firms had a higher earnings response coefficient (ERC).

Keywords: conservatism, growth, beta, capital structure, size, earnings response coefficient (ERC)

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Reaksi Pasar Publikasi Corporate Governance Perception Index pada Perusahaan yang Terdaftar di BEJ

Oleh:

Luciana Spica Almilia dan Lailul L. Sifa (STIE Perbanas Surabaya) 

Penelitian ini telah Dipresentasikan pada Simposium Nasional Akuntansi (SNA) IX di Universitas Andalas, Padang (2006) 

Abstract:The objective of this research is to empirically examine about the market reaction of corporate governance perception index announcement. The analysis include two aspects: abnormal return and trading volume activity of corporate governance perception index announcement by big ten firms and not big ten firms.The sample of this research is 24 big ten firms and 79 non big ten firms during the period of 2001 – 2003. The result of this research show that corporate governance perception index has information content and statistically significant responded by the market around the date of corporate governance perception index announcement. The difference between abnormal return and trading volume activity of big ten firms and not big ten firms around corporate governance perception index announcement is not significant.

Keywords: corporate governance perception index, abnormal return, trading volume activity, market reaction.

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Dampak Size Perusahaan terhadap Kandungan Informasi dan Efek Intra Industri Pengumuman Stock Split

Penelitian ini telah dipublikasikan pada Jurnal Bisnis dan Ekonomi, Vol. 13, No. 1, Maret 2006

Abstract:

The objective of this research is to empirically examine about the information content and intra industry effect of stock split announcement. The analysis include three aspect: information content, risk (beta) and intra industry effect of stock split announcement by small size firm and large size firms.

The sample of this research is 79 reporter firm (consist of 40 small size firms and 39 large size firms) and 166 non reporter firms during the period of 1997 – 2002. The result of this research show that stock split has information content which is negatively responded and statistically significant responded by the market around the date of stock split announcement . The difference between beta before and after stock split announcement is not significant. The difference between beta small size firms and large size firms after stock split announcement is not significant. The intra industry effect of stock split announcement by large size firms is contagion effect and after stock split announcement is competitive effect. The intra industry effect of stock split announcement by small size firms is competitive effect.

Keywords: stock split, intra industry effect, contagion effect, competitive effect, information content.

Abstrak:

Tujuan dari penelitian ini adalah menguji secara empiris tentang kandungan informasi dan efek intra industri dari pengumuman stock split. Analisis dalam penelitian ini mencakup 3 aspek yaitu: kandungan informasi, risiko (beta) dan efek intra industri dari pengumuman stock split yang dilakukan oleh perusahaan size besar dan size kecil.

Sampel dalam penelitian ini meliputi 79 perusahaan reporter (yang terdiri dari 40 perusahaan size kecil dan 39 perusahaan size besar) dan 166 perusahaan non reporter selama periode 1997 – 2002. Hasil dari penelitian ini menunjukkan bahwa pengumuman stock split memiliki kandungan informasi berupa reaksi negatif dan secara statistik signifikan disekitar tanggal pengumuman stock split. Temuan lain dalam penelitian ini adalah tidak ada perbedaan beta sebelum dan setelah pengumuman stock split serta tidak ada perbedaan beta antara perusahaan size besar dan size kecil setelah pengumuman stock split. Efek intra industri pengumuman stock split yang dilakukan oleh perusahaan size besar adalah efek kontagion dan setelah pengumuman stock split adalah efek kompetitif. Sedangkan efek intra industri pengumuman stock split yang dilakukan oleh perusahaan size kecil adalah efek kompetitif.

Kata Kunci: stock split, efek intra industri, efek kontagion, efek kompetitif, kandungan informasi.

Artikel Lengkap dapat didownload disini -> dampak-size-perusahaan-stock-split.pdf

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Analisis Faktor-Faktor yang Mempengaruhi Status Perusahaan Pasca IPO dengan Analisis Multinomial Logit

Penelitian ini dipublikasikan pada Jurnal Ekonomi dan Bisnis Indonesia (JEBI) Vol. 18 No. 4, Oktober 2003 

ABSTRACT: 

This research has a purpose to provide empirical evident about factors that affect firms status after IPO.  The examined factors on this research are firm characteristics including financial ratio, industry structure, firm’s sensitivity to macroeconomic variables, underwriter reputation and ownership structure. The samples consist of 84 firms which had positive net income, positive equity book value and still listed until 2002; 24 firms which had negative net income from 2000 through 2001 and still listed; 48 firms which had negative net income and negative equity book value from 2000 through 2001 and still listed; and 19 firms which delisted from 1999 through 2002. Moreover, it is chosen by purposive sampling. The statistic method used to test on the research hypothesis is multinomial logit regression. Indirect method and direct method technique is used to gain a model that has the highest classification power in determination firms status after IPO. The result show that direct method had a higher classification power rather than indirect method. This research also indicate that firm characteristic include financial ratio, industry structure, firm’s sensitivity to macroeconomic variables, and underwriter reputation is a significant variables in determination firms status after IPO 

Keywords: financial distress, financial ratios, multinomial logit, macroeconomic variable 

Artikel Lengkap dapat didownload disini -> artikel-pasca-ipo.pdf

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Analisis Rasio Keuangan untuk Memprediksi Kondisi Financial Distress Perusahaan Manufaktur yang Terdaftar di BEJ

Penelitian ini telah dipublikasikan pada Jurnal Akuntansi dan Auditing Indonesia (JAAI) Vol. 7 No. 2, Desember 2003 

Abstrak:Financial distress precedes bankruptcy. Most financial distress models actually rely on bankruptcy data, which is easier to obtain. The purpose of this research is to examine financial ratios that affect financial distress condition of a firm. The sample of this research consist of 24 distress firms and 37 non-distress firms, it is chosen by purposive sampling. The statistic method which is used to test on the research hypothesis is logistic regression. The result show that profit margin ratio (net income/net sales), financial leverage ratio (current liabilities/total assets), liquidity ratio (current assets/current liabilities) and growth (net income/total assets growth) is a significant variable to determine of financial distress firms. 

Keywords: financial distress, financial ratios, bankruptcy. 

Artikel Lengkap dapat didownload disini -> model-financial-distress.pdf  

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