Determinan Konservatisme Akuntansi: Bukti Empiris pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia

Maria Goreti Kentris Indarti, Jacobus Widiatmoko, Achmad Badjuri, Tri Ambarwati

Abstract


The principle of conservatism is one of the most influential factors in accounting judgments. However, the phenomenon shows that many companies do not apply the principles of accounting conservatism. The main objective of this study is to examine the effect of managerial ownership, investment opportunity set, and financial distress on the practice of accounting conservatism. This study uses all manufacturing companies whose shares are listed on the Indonesia Stock Exchange for the period 2016 to 2019 as the population. Based on the purposive sampling method, obtained as many as 246 observations. The hypothesis in this study was tested using multiple linear regression. The results prove that managerial ownership has a positive effect on the practice of accounting conservatism. However, the variable investment opportunity set and financial distress do not affect the practice of accounting conservatism by management. Profitability and leverage have a role as control variables with negative and positive effects on accounting conservatism, respectively.


Keywords: Accounting conservatism, managerial ownership, investment opportunity set, financial distress

 

 

ABSTRAK

Prinsip konservatisme merupakan salah satu faktor yang paling berpengaruh dalam penilaian akuntansi. Namun, fenomena menunjukkan bahwa banyak perusahaan tidak menerapkan prinsip konservatisme akuntansi.  Penelitian ini bertujuan untuk menguji pengaruh variable kepemilikan manajerial, investment opportunity set, dan financial distress terhadap praktik konservatisme akuntansi. Populasi dalam penelitian ini adalah perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia tahun 2016-2019. Berdasarkan metode pemilihan sampel  purposive sampling, diperoleh data sebanyak 246. Hasil pengujian hipotesis dengan menggunakan regresi ordinary least square menunjukkan bahwa kepemilikan manajerial berpengaruh positif terhadap konservatisme akuntansi. Sebaliknya, variabel investment opportunity set dan financial distress tidak berpengaruh terhadap konservatisme akuntansi. Sesuai dengan yang diprediksi, variabel profitabilitas dan leverage sebagai variabel kontrol masing-masing menunjukkan pengaruh negatif dan positif terhadap konservatisme akuntansi.

Kata kunci:     Konservatisme akuntansi, kepemilikan manajerial, investment opportunity set, financial distress

Full Text:

PDF

References


Abdurrahman, M. A., & Ermawati, W. J. (2019). Pengaruh Leverage, Financial Distress dan Profitabilitas terhadap Konservatisme Akuntansi pada Perusahaan Pertambangan di Indonesia Tahun 2013-2017. Jurnal Manajemen Dan Organisasi, 9(3), 164–173. https://doi.org/10.29244/jmo.v9i3.28227

Affes, H., & Sardouk, H. (2016). Accounting Conservatism and Corporate Performance: The Moderati ng Effect of the Board of Directors. Journal of Business & Financial Affairs, 5(2). https://doi.org/10.4172/2167-0234.1000187

Ahmed, I. E. (2020). The qualitative characteristics of accounting information, earnings quality, and islamic banking performance: evidence from the gulf banking sector. International Journal of Financial Studies, 8(30), 1–16. https://doi.org/10.3390/ijfs8020030

Alkurdi, A., Al-Nimer, M., & Dabaghia, M. (2017). Accounting conservatism and ownership structure effect: A look at industrial and financial jordanian listed companies. Journal of Environmental Accounting and Management, 7(2), 608–619. https://doi.org/10.5890/JEAM.2017.06.007

An, Y. (2015). Does foreign ownership increase financial reporting quality? Asian Academy of Management Journal, 20(2), 81–101. Retrieved from https://www.proquest.com/scholarly-journals/does-foreign-ownership-increase-financial/docview/1765625795/se-2?accountid=201395

Andreas, H. H., Ardeni, A., & Nugroho, P. I. (2017). Konservatisme Akuntansi di Indonesia. Jurnal Ekonomi Dan Bisnis, 20(1), 1. https://doi.org/10.24914/jeb.v20i1.457

Ball, R., Kothari, S. P., & Nikolaev, V. V. (2013). Econometrics of the basu asymmetric timeliness coefficient and accounting conservatism. Journal of Accounting Research, 51(5), 1071–1097. https://doi.org/10.1111/1475-679X.12026

Basu, S. (1999). Discussion of International Differences in the Timeliness , Conservatism , and Classification of Earnings. Journal of Accounting Research, 37, 89–99. Retrieved from http://www.jstor.org/stable/2491346

Chakrabarty, B., & Moulton, P. C. (2012). Earnings announcements and attention constraints: The role of market design. Journal of Accounting and Economics, 53(3), 612–634. https://doi.org/10.1016/j.jacceco.2012.01.001

Dechow, P., Ge, W., & Schrand, C. (2010). Understanding earnings quality: A review of the proxies, their determinants and their consequences. Journal of Accounting and Economics, 50(2–3), 344–401. https://doi.org/10.1016/j.jacceco.2010.09.001

El-haq, Z. N. S., Zulpahmi, Z., & Sumardi, S. (2019). Pengaruh Kepemilikan Manajerial, Kepemilikan Institusional, Growth Opportunities, Dan Profitabilitas Terhadap Konservatisme Akuntansi. Jurnal ASET (Akuntansi Riset), 11(2), 315–328. https://doi.org/10.17509/jaset.v11i2.19940

Elloumi, F., & Gueyié, J. P. (2001). Financial distress and corporate governance: An empirical analysis. Corporate Governance: The International Journal of Business in Society, 1(1), 15–23. https://doi.org/10.1108/14720700110389548

Givoly, D., & Hayn, C. (2000). The Changing Time-Series Properties of Earnings, Cash Flows and Accruals. Journal of Accounting and Economics, 29, 287–320. https://doi.org/10.1016/S0165-4101(00)00024-0

Hakiki, L. N., & Solikhah, B. (2019). Pengaruh Corporate Governance, Investment Opportunity Set, Ukuran Perusahaan, Dan Penerapan Psak 55 Terhadap Konservatisme Akuntansi. Gorontalo Accounting Journal, 2(2), 85–97. https://doi.org/10.32662/gaj.v2i2.620

Hamdan, A. M., Abzakh, M. H., & Al-Ataibi, M. H. (2011). Factors Influencing the Level of Accounting Conservatism in the Financial Statements. International Business Research, 4(3), 145–155. https://doi.org/10.5539/ibr.v4n3p145

Indarti, M. G. K., & Widiatmoko, J. (2021). The Effects of Earnings Management and Audit Quality on Cost of Equity Capital: Empirical Evidence from Indonesia. Journal of Asian Finance, Economics and Business, 8(4), 769–776. https://doi.org/10.13106/jafeb.2021.vol8.no4.0769

Indarti, M. G. K., Widiatmoko, J., & Pamungkas, I. D. (2020). Corporate Governance Structures and Probability of Financial Distress: Evidence From Indonesia Manufacturing Companies. International Journal of Financial Research, 12(1), 174–183. https://doi.org/10.5430/ijfr.v12n1p174

Jensen, M. C., & Meckling, W. H. (1976). Theory of The Firm: Managerial Behavior, Agency Cost and Ownership Structure. Journal of Financial Economics, 3, 305–360. https://doi.org/10.1016/0304-405X(76)90026-X

Kao, H.-S., & Sie, P.-J. (2016). Accounting Conservatism Trends and Financial Distress: Considering the Endogeneity of the C-Score. International Journal of Financial Research, 7(4). https://doi.org/10.5430/ijfr.v7n4p149

Kim, Y. J., Kim, J. H., Kwon, S., & Lee, S. J. (2015). Percent accruals and the accrual anomaly: Korean evidence. Pacific Basin Finance Journal, 35, 340–366. https://doi.org/10.1016/j.pacfin.2015.02.006

Kordestani, G., Biglari, V., & Bakhtiari, M. (2011). Ability of combinations of cash flow components to predict financial distress. Business: Theory and Practice, 12(3), 277–285. https://doi.org/10.3846/btp.2011.28

Krismiaji, K. (2020). Struktur Kepemilikan Dan Konservatisme Akuntansi. JIAFE (Jurnal Ilmiah Akuntansi Fakultas Ekonomi), 6(2), 149–160. https://doi.org/10.34204/jiafe.v6i2.2358

Krismiaji, K., & Sururi, S. (2021). Conservatism, Earnings Quality, and Stock Prices - Indonesian Evidence. Journal of Accounting and Investment, 22(1), 37–50. https://doi.org/10.18196/jai.v22i1.9419

Mafiroh, A., & Triyono, T. (2018). Pengaruh Kinerja Keuangan dan Mekanisme Corporate Governance terhadap financial Distress (Studi Empiris pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia Periode 2011-2014). Riset Akuntansi Dan Keuangan Indonesia, 1(1), 46–53. https://doi.org/10.23917/reaksi.v1i1.1956

Murwaningsari, E., & Rachmawati, S. (2017). The Influence of Capital Intensity and Investment Opportunity Set toward Conservatism with Managerial Ownership as Moderating Variable. Journal of Advanced Management Science, 5(6), 445–451. https://doi.org/10.18178/joams.5.6.445-451

Neag, R., & Maşca, E. (2015). Identifying Accounting Conservatism – A Literature Review. Procedia Economics and Finance, 32(15), 1114–1121. https://doi.org/10.1016/S2212-5671(15)01576-2

Putra, I. G. B. N. P., Sari, P. A. M. P., & Larasdiputra, G. D. (2019). Pengaruh Kepemilikan Institusional Dan Kepemilikan Manajerial Pada Konservatisme Akuntansi. Wacana Ekonomi (Jurnal Ekonomi, Bisnis Dan Akuntansi), Vol.18(No.1), 41–51. https://doi.org/10.22225/we.18.1.991.41-51

Putra, N. Y., & Subowo, S. (2016). The Effect of Accounting Conservatism, Investment Opportunity Set, Leverage, and Company Size on Earnings Quality. Accounting Analysis Journal, 5(4), 299–306. https://doi.org/10.15294/aaj.v5i4.10691

Song, F. (2015). Ownership Structure and Accounting Conservatism: A Literature Review. Modern Economy, 06, 478–483. https://doi.org/10.4236/me.2015.64046

Sugiarto, V. H. S., & Fachrurrozie, F. (2018). The Determinant of Accounting Conservatism on Manufacturing Companies in Indonesia. Accounting Analysis Journal, 7(1), 1–9. https://doi.org/10.15294/aaj.v7i1.20433

Ursula, E. A., & Adhivinna, V. V. (2018). Pengaruh Kepemilikan Manajerial, Ukuran Perusahaan, Leverage, Dan Growth opportunities Terhadap Konservatisme Akuntansi. Jurnal Akuntansi, 6(2), 194–206. https://doi.org/10.24964/ja.v6i2.643

Watts, R. L., & Zimmerman, J. L. (1983). Agency Problems, Auditing, and the Theory of the Firm: Some Evidence. The Journal of Law and Economics, 26(3), 613–633. https://doi.org/10.1086/467051

Widiatmoko, J., & Indarti, M. G. K. (2018). Karateristik Perusahaan, Tipe Auditor dan Konsentrasi Kepemilikan Saham terhadap Pengungkapan Modal Intelektual. Jurnal Bisnis Dan Ekonomi, 25(1), 35–46. Retrieved from https://unisbank.ac.id/ojs/index.php/fe3/article/view/6964

Widiatmoko, J., & Indarti, M. G. K. (2019). Book Tax Differences, Operating Cash Flow, Leverage and Earning Persistence in Indonesia Manufacturing Companies. Jurnal Dinamika Akuntansi, 11(2), 151–159. https://doi.org/10.15294/jda.v11i2.20481




DOI: http://dx.doi.org/10.30659/jai.10.2.161-174

Refbacks

  • There are currently no refbacks.


 

Jurnal Akuntansi Indonesia
is published by Department of Accounting, Faculty of Economics Universitas Islam Sultan Agung (UNISSULA), Indonesia in collaboration with IAI KaPD.

Jl. Raya Kaligawe Km.4, PO BOX 1054/SM Semarang 50112
Website: http://fe.unissula.ac.id/
Email: jai@unissula.ac.id

ISSN: 2655-9552 (Online) | 0216-6747 (Print)
DOI : 10.30659/jai

Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License