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Studi Akuntansi dan Keuangan Indonesia (SAKI)
ISSN : -     EISSN : 26546221     DOI : 10.21632/saki
Core Subject : Economy,
SAKI aims to publish articles in the field of accounting and finance that provide a significant contribution to the development of accounting practices and the accounting profession in Indonesia and the Asian region. SAKI provides insights into the field of accounting and finance for academics, practitioners, researchers, regulators, students, and other parties interested in the development of accounting practices and the accounting professions.
Articles 22 Documents
PENGARUH STRATEGI DIVERSIFIKASI TERHADAP EFISIENSI PADA PERUSAHAAN MANUFAKTUR YANG TERCATAT DI BURSA EFEK INDONESIA Halim, Anthony; Setio, Claresta Hartawan; Pranoto, Titin; Gunawan, Vania Pradipta
Studi Akuntansi dan Keuangan Indonesia Vol 2 No 2 (2019): Studi Akuntansi dan Keuangan Indonesia
Publisher : Universitas Prasetiya Mulya

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Abstract

The purpose of this research is to examine the impact of Related Diversification, Unrelated Diversification and International Diversification on firm?s Efficiency. Related Diversification and Unrelated Diversification were measured using Entropy index, while International Diversification was measured using proportion of export sales over total sales. Efficiency was measured using Data Envelopment Analysis ? BCC Model using total assets as input variable and return on asset, return on equity, profit margin, earning per share, market to book value and Tobin?s Q as output variables. This research also uses five control variables which are firm?s size, leverage, firm?s age, liquidity and exchange rate. This research use manufacture companies listed in Bursa Efek Indonesia in 2013-2016 as research samples. The result of this research show Related Diversification gives negative effect on Efficiency, Unrelated Diversification gives positive effect to Efficiency, and no significant effect from International Diversification to Efficiency. The implication from this research indicates that Unrelated Diversification strategy is better for manufacturing firms in Indonesia and Efficiency will decrease as firm?s size grow.
PENGARUH AUDIT TENURE TERHADAP KUALITAS AUDIT PADA PERUSAHAAN TERBUKA DI INDONESIA Angela, Angela; Miharja, Marceline; Wijantini, Wijantini; Farhana, Siti
Studi Akuntansi dan Keuangan Indonesia Vol 2 No 2 (2019): Studi Akuntansi dan Keuangan Indonesia
Publisher : Universitas Prasetiya Mulya

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Abstract

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 on 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.
PENGARUH INDEPENDENSI, KOMPETENSI, DAN PARTISIPASI DEWAN KOMISARIS TERHADAP KINERJA KEUANGAN PERUSAHAAN Octosiva, Feilicia; Theresia, Meilisa; Hidayat, Athalia Ariati
Studi Akuntansi dan Keuangan Indonesia Vol 1 No 2 (2018): Studi Akuntansi dan Keuangan Indonesia
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Abstract

According to the Asian Development Bank report, responsibility of the board is one of the principles that has not been implemented properly in Indonesia. There are several things that can represent the responsibilities of the board such as independency, competence, and participation. The aim to this study is to analyze the effect of the independency proxied by the proportion of independent commissioners, the competence proxied by the board?s working experience in the major industry of the company, and the participation proxied by the average percentage attendance of the board in the meeting to corporate financial performance represented with ROA. The sample used in this study is in the period of 2011-2015 with a total of 1229 firm-years. The hypothesis testing in this research uses panel data regression analysis. The result shows that independency of the board has no effect to corporate financial performance, while the competence of the board has a positive effect to corporate financial performance and participation of the board shows a negative effect to corporate financial performance.
FAKTOR PENGARUH NILAI PENEMPATAN DEPOSITO RUPIAH NASABAH INDIVIDU DI JABODETABEK Bawono Miranda, Aloysius Raino
Studi Akuntansi dan Keuangan Indonesia Vol 1 No 1 (2018): Studi Akuntansi dan Keuangan Indonesia
Publisher : Universitas Prasetiya Mulya

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Abstract

This research aims to investigate the factors that significantly affect the placement of customer funds on BUKU 4 banks? time-deposits in Jabodetabek. Researcher use the questionnaires that were distributed to 405 respondents to capture perceptions on factors that have been tested previously, such as interest rate, service facilities, and promotion. Researcher added the trust factor and word-of-mouth variables in this study. The result is the interest rate and trust factor have a significant impact on the placement of customer?s funds on BUKU 4 banks? time- deposit in Jabodetabek. While the service quality, word of mouth, and promotion do not affect significantly. Keywords: bank?s time deposit, interest rate, service quality, trust, word-of-mouth, promotion
PENGARUH PROGRAM KEPEMILIKAN SAHAM KARYAWAN TERHADAP KINERJA KEUANGAN PERUSAHAAN PUBLIK DI INDONESIA Melinda, Violia Elsha; Lestari, Madeline; Kristamuljana, Sammy; Rachman, Rathria Arrina
Studi Akuntansi dan Keuangan Indonesia Vol 2 No 1 (2019): Studi Akuntansi dan Keuangan Indonesia
Publisher : Universitas Prasetiya Mulya

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Abstract

Berdasarkan teori agensi, manajemen (agent) adalah pihak yang dipercaya oleh pemegang saham (principal) untuk menjalankan perusahaan dan memaksimalkan nilai pemegang saham (Jensen dan Meckling, 1976). Dalam praktiknya, konflik antara pemegang saham dan manajer tidak dapat dihindari karena adanya perbedaan kepentingan dan ketimpangan informasi yang disebut dengan konflik keagenan (Agency Problem). Salah satu cara meminimalisir agency problem adalah dengan menerapkan program kepemilikan saham karyawan (Employee Stock Ownership Program/ESOP) yang memberikan hak kepada karyawan perusahaan untuk memiliki saham perusahaan. Melalui ESOP, karyawan diharapkan dapat meningkatkan kinerja dan nilai perusahaan melalui kepemilikan saham mereka. Tujuan penelitian ini adalah untuk menganalisis pengaruh pelaksanaan program ESOP terhadap kinerja perusahaan dari sisi profitabilitas yang diukur dengan ROE (Return on Equity) dan ROA (Return on Asset). Penelitian ini menggunakan sampel sebanyak 62 perusahaan terbuka di Indonesia yang mengadopsi ESOP pertama kali dalam kurun waktu 2009-2016. Dengan menggunakan metode regresi data panel, hasil penelitian menunjukkan bahwa program ESOP berpengaruh signifikan negatif terhadap profitabilitas perusahaan.
PENGARUH KEPEMILIKAN INSTITUSIONAL TERHADAP STRUKTUR MODAL DAN NILAI PERUSAHAAN DI INDONESIA Surjadi, Andriyani; Vania, Irene; Wijantini, Wijantini; Yuliati, Retno
Studi Akuntansi dan Keuangan Indonesia Vol 1 No 2 (2018): Studi Akuntansi dan Keuangan Indonesia
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Abstract

This study aimed to investigate the influence of institutional ownership on firm value and capital structure, also the influence of capital structure on firm value. This study contributes as a confirmation of the prior studies? findings. Capital structure is measured with long-term debt to equity and firm value is measured with Tobin?s Q. Sample for this study includes 160 manufacturing companies listed on Bursa Efek Indonesia (BEI) in 2006-2015. The regression model used is Pooled Ordinary Least Squares (OLS). The findings of this study indicate that institutional ownership positively influences firm value by practicing effective monitoring which reduces agency problem, consistent with Jafarinejad (2015) and Lins (2003). Institutional ownership negatively influences capital structure assessed through pecking order theory, caused by the decreased information gap between shareholder and management and the institutional ownership?s monitoring as a subtitute of  debt and in line with Michaely and Vincent (2013) and Chaganti and Damanpour (1991). Capital structure positively influences firm value as debt has a controlling role in the company will reduce agency problem thus raising firm value, consistent with agency theory developed by Jensen and Meckling (1976). The result is consistent with Hasbi (2015) and Zeitun and Tian (2007).
ANALISIS PENGARUH KEPEMILIKAN INSTITUSIONAL DAN KEPEMILIKAN MANAJERIAL TERHADAP KINERJA DAN NILAI PERUSAHAAN Darmawan Putra, Danies Rifky Akbar
Studi Akuntansi dan Keuangan Indonesia Vol 1 No 1 (2018): Studi Akuntansi dan Keuangan Indonesia
Publisher : Universitas Prasetiya Mulya

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Abstract

Conflict of interest between shareholder and management can trigger the increasing of cost production of the company and give an effect to the performance and value of the company. The purpose of this study is to examine the effect between ownership stuctures, the institutional and managerial ownership on the perfomance and value of companies. Based on the sample of 193 non-financial companies listed in Indonesia?s Stocks Exchange for the period 2004 to 2015 by using purposive sampling method, institutional ownership gives positive effect on the perfomance and value of the companies, while managerial ownership gives negative effect on the perfomance as well as the value of the companies.  Keywords: Institutional Ownership, Managerial Ownership, Company Perfomance, Company Value
PERAN KUALITAS AUDITOR DALAM MENINGKATKAN RELEVANSI NILAI DI DALAM EARNINGS DAN BOOK VALUE OF EQUITY Bryan, Christopher; Firmansyah, Daniel; Rinanigsih, Rinanigsih; Yanto, Johan
Studi Akuntansi dan Keuangan Indonesia Vol 2 No 1 (2019): Studi Akuntansi dan Keuangan Indonesia
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Abstract

The purpose of this research is to see the difference of value relevance contained in earnings and book value of equity to stock return on companies audited by different audit quality. Audit quality measurements are measured using auditor size and auditor specialization. The sample used in the study is a company listed on the Indonesia Stock Exchange between the periods 2006 to 2015, the company engaged in non-financial, possess the completeness of the financial report during  period of study, and has no negative book value of equity. The study used paired t-test for each subsample. The results of this study indicate that there is no difference in the value relevance of the audited companies with different audit quality.
PENGARUH KEPEMILIKAN PEMERINTAH TERHADAP KINERJA PERUSAHAAN BADAN USAHA MILIK NEGARA YANG TERDAFTAR DI BEI Angela, Jessica; Jessica, Marcelia; Rinaningsih, Rinaningsih; Haryono, Luciana
Studi Akuntansi dan Keuangan Indonesia Vol 2 No 2 (2019): Studi Akuntansi dan Keuangan Indonesia
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Abstract

This study aims in analyzing the linear relationship between government ownership and company performance in open non-financial State-Owned Enterprises in Indonesia in 2009-2018. The independent variable in this study uses the percentage of government ownership and the dependent variable used are company performance with proxy profitability (Return on Assets, Return on Equity, Return on Sales) and market performance (Tobin?s Q). The independent variable and the dependent variable in the study are supported by two control variables, namely the size of the company and the growth rate of Gross Domestic Product (GDP). The samples used in this study were 152 observation data with panel data to prove the relationship between government ownership and company performance using Stata version 13. The results in the study of the relationship between government ownership and company performance as measured by ROA, ROE, ROS proved to be significantly negative, while Tobin's Q is not related. These results support previous studies, namely Jia et al. (2005), Marciano (2008) in Wiranata and Nugrahanti (2013), Xu and Wang (1999), and Qi, et al. (2000). A significant negative relationship between government ownership and company performance indicates that the government's ability is still not optimal in overseeing the company's operational activities and the objectives of the State-Owned Enterprises focusing on the welfare of a group or the company itself.
THE DETERMINANTS AND CONSEQUENCES OF TAX AVOIDANCE IN INDONESIA: THE EFFECTS OF TOP MANAGEMENT CHARACTERISTICS AND CAPITAL STRUCTURE Pangestu, Stevanus; Bimo, Irenius Dwinanto
Studi Akuntansi dan Keuangan Indonesia Vol 1 No 2 (2018): Studi Akuntansi dan Keuangan Indonesia
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Abstract

Tax avoidance is the lawful minimization of income tax by employing legal methods. This study aims to assess the effects of top management characteristics and capital structure on tax avoidance, measured with Effective Tax Rate (ETR). Our panel data comprise public manufacturing corporations, observed from 2010-2015 (n= 452). Based on our panel analysis using random effects model on EView, we find that tax avoidance: (i) is negatively influenced by independent directors (ii) is positively affected by foreign directors; (iii) is influenced by capital structure, measured with firm leverage, and (iv) positively affects current profitability, measured with Return on Equity. Meanwhile, the influence of female directors are found to be nonexistent.  We also offer empirical evidence that board of directors? characteristics influence tax avoidance through financing decisions. The findings of this study suggest that firm capital structure determination is motivated by the intention to avoid taxes.  

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