Earnings Management Index, State Ownership, Industrial Sectors, and Timeliness of Financial Report in Indonesia
DOI:
https://doi.org/10.26740/jaj.v11n2.p53-65Keywords:
Earnings Management Index, Industrial Sector, State Ownership, TimelinessAbstract
In recent years, IDX reported that a high number of enterprises financial reporting were overdue. Timeliness of financial report is necessary since it is used as the main source of information. This paper aims to investigate several factors affecting timeliness of financial report in Indonesia. Using the purposive sampling technique, this study gained 318 enterprises listed on IDX during 2015 until 2017. The result showed that earnings management index and industrial sector were significantly related to the timeliness of financial report. On the other hand, state ownership do not have significant relation with the timeliness of financial report.References
Abernathy, John L., Thomas R. Kubick, & Adi Masli. (2018). Evidence on the Relation between Managerial Ability and Financial Reporting Timeliness. International Journal of Auditing, 22(2), 1 -12.
Ajina, A., M. Laouiti, & B.Msolli. (2016). Guiding through the Fog: Does Annual Report Readability Reveal Earnings management? Research in International Business and Finance. 38, 509-516.
Aktas, R. & M. Kargin. (2011). Timeliness of Reporting Quality of Financial Information. International Research Journal of Finance and Economics, 63, 71-77.
Bonson-Ponte, E., C.Borrero-Dominguez, & T. Escobar-Rodriguez. (2008). Empirical Analysis of Delays in the Signing of Audit Reports in Spain. International Journal of Auditing, 12(2), 129-140.
Braswell, M. & R. B. Daniels. (2017). Alternative Earnings Management Techniques: What Audit Committees and Internal Auditors Should Know. The Journal of Corporate Accounting and Finance, 28(2), 45-54.
Chen, R., S. E. Ghoul, O. Guedhami, & H. Wang. (2017). Do state and foreign ownership affect investment efficiency? Evidence from privatizations. Journal of Corporate Finance, 42, 408-421.
Chi, J. D. & M. Gupta. (2009). Overvaluation and Earnings Management. Journal of Banking and Finance, 33, 1652-1663.
Cho, H. & B. Song. (2017). Politically Connected Audit Committees, Earnings Quality and External Financing: Evidence from Korea. Asia-Pasific Journal of Financial Studies, 48(4), 609-634.
Christiani, I., & Y. W.Nugrahanti. (2014). Pengaruh Kualitas Audit terhadap Manajemen Laba. Jurnal Akuntansi dan Keuangan, 16(1), 52-62.
Claessens, S. & J. P. H. Fan. (2002). Corporate Governance in Asia: A Survey. International Review of Finance, 3(2), 71-103.
Clatworthy, M. A. and M. J. Peel. (2016). The Timeliness of UK Private Company Financial Reporting: Regulatory and Economic Influences. The British Accounting Review, 48(3), 1-29.
Dewi, R. R. (2005). Manajemen Laba, Kualitas Laba, dan Kredibilitas Laporan Keuangan. Media Riset Akuntansi, Auditing dan Informasi, 5(1), 25-39.
Dong, B., D. Robinson, & L. E.Xu.(2018). Auditor-Client Geographic Proximity and Audit Report Timeliness. Advances in Accounting,.40, 11-19.
Dutu, R. (2016). Challenger and Policies in Indonesias Energy Sector.Energy Policy, 98, 513-519.
Duygun, M., Y. Guney, & A. Moin. (2018). Dividend Policy of Indonesian Listed Firms: The Role of Families and State. Economic Modelling, 75, 336-354.
Dyer, J. C. IV. & A. J. McHugh. (1975). The Timeliness of The Australian Annual Report. Journal of Accounting Research, 13(2), 204-219.
Financial Accounting Standards Board. (2010). Statement of Financial Accounting Concepts No. 8 Conceptual Framework for Financial Reporting. https://www.fasb.org, accessed 31 December 2018.
Franedya, R. 02 July (2018). Tak Sampaikan Lapkeu 2017 Auditan, BEI Suspensi 10 Saham. https://www.cnbcindonesia.com, accessed 30 December 2018.
Gavious, I., E. Segev, & R. Yosef. (2012). Female Directors and Earnings Management in High-Technology Firms. Pasific Accounting Review, 24(1), 4-32.
Ghafran, C. & S.Yasmin. (2017). Audit Committee Chair and Financial Reporting Timeliness: A Focus on Financial, Experimental, and Monitoring Expertise. International Journal of Auditing, 22(1), 13-24.
Guedhami, O., J. A. Pittman, & W.Saffar. (2009). Auditor Choice in Privatized Firms: Empirical Evidence on the Role of State and Foreign Owners. Journal of Accounting and Economics, 48 (2-3), 151-171.
Gull, A. A., M. Nekhili, H. Nagati, & T.Chtioui. (2018). Beyond Gender Diversity: How Specific Attributes of Female Directors Affect Earnings Management. The British Accounting Review, 50(3), 255-274.
Ha, H. T. V., D. N. Hung, & N. T. T. Phuong. (2018). The Study of Factors Affecting the Timeliness of Financial Reports: The Experiments on Listed Companies in Vietnam. Asia Economic and Financial Review, 8(2), 294-307.
Hasan, M. H. et al. (2012). A Review on the Pattern of Electricity Generation and Emission in Indonesia from 1987 to 2009. Renewable and Sustainable Energy Review, 16(5), 3206-3219.
Healy, P. M. & J. M. Wahlen. (1999). A Review of the Earnings Management Literature and Its Implications for Standard Setting. Accounting Horizons, 13(4), 365-383.
Jensen, M. C. & W. H. Meckling. (1976). Theory Of The Firm: Managerial Behavior, Agency Cost And Ownership Structure. Journal of Financial Economics,. 3(4), 305-360.
Jogiyanto, H. (2013). Teori Portofolio dan Analisis Investasi. Edisi Kedelapan. Yogyakarta: BPFE.
Ketua Dewan Komidioner Otoritas Jasa Keuangan. Peraturan Otoritas Jasa Keuangan (POJK) No. 29 / POJK. 04/2016 tentang Laporan Tahunan Emiten atau Perusahaan Publik. https://www.ojk.go.id, accessed 25 December 2018.
Khasharmeh, H. A. & K.Aljifri. (2010). The Timeliness of Annual Reports in Bahrain and the United Arab Emirates: An Empirical Comparative Study. The International Journal of Business and Finance Research, 4(1), 51-71.
Krishnan, G. V. & L. M. Parsons. (2008). Getting to the Bottom Line: An Exploration of Gender and Earnings Quality. Journal of Business Ethics, 78(1), 65-76.
Kurniawan, R. & S.Managi.2018. Coal Consumption, Urbanization, and Trade Openness Linkage in Indonesia. Energy Policy, 121, 576-583.
Kusuma, H. (2006). Dampak Manajemen Laba terhadap Relevansi Informasi Akuntansi: Bukti Empiris dari Indonesia. Jurnal Akuntansi dan Keuangan, 8(1), 1-12.
Li, J. & L. Yu. (2018). How Does State-owned Shares Affect Double Externalities and Industrial Performance: Evidence from Chinas Exhaustible Resources Industry. Journal of Cleaner Production, 176, 920-928.
Lie, N. Y. S. (2012). Faktor-Faktor yang Mempengaruhi Ketepatan Waktu Penyampaian Laporan Keuangan pada Perusahaan Pertambangan di BEI periode 2008-2010. Jurnal Ilmiah Mahasiswa Akuntansi,1(1), 27-32.
McGee, R. W., T. Tarangelo, & M. Tyler. (2009). Chapter 15 The Timeliness of Financial Reporting: A Comparative Study of Companies in Russia and the USA. Corporate Governance in Transition Economics, 157-163.
McGee, R. W., M. Tyler, T. Tarangelo, & D. N.Igoe. (2009). Chapter 16 the Timeliness of Financial Reporting: A Comparative Study of Companies in Russia and the European Union. Corporate Governance in Transition Economics, 165-171.
McGee, R. W., X. Yuan, M. Tyler, & T.Tarangelo. (2009). Chapter 17 The Timeliness of Financial Reporting: A Comparative Study of Peoples Republic of China and Russia. Corporate Governance in Transition Economics, 173-179.
Melani, A. (2016). Belum Sampaikan Laporan Tahunan, BEI Beri Sanksi ke 63 Emiten. http://www.liputan6.com, accessed 24 March 2018.
Menteri Hukum dan Hak Asasi Republik Indonesia. (2012). Peraturan Pemerintah Republik Indonesia Nomor 24 Tahun 2012 tentang Perubahan Atas Peraturan Pemerintah Nomor 23 Tahun 2010 tentang Pelaksanaan Kegiatan Usaha Pertambangan Mineral Dan Batubara. http://eiti.ekon.go.id, accessed 7 January 2019.
Menteri Hukumdan Hak Asasi Republik Indonesia. (2015). Peraturan Menteri Pertanian Republik Indonesia Nomor: 26/Permentan/ Hk.140/4/2015 tentang Syarat, Tata Cara Dan Standar Operasional Prosedur Pemberian Rekomendasi Teknis Izin Usaha Di Bidang Pertanian Dalam Rangka Penanaman Modal. https://www.bkpm.go.id, accessed 7 January 2019.
Permatasari, I. (2005). Manajemen Laba dan Status Keterlambatan Perusahaan dalam Menyampaikan Laporan Keuangan Tahunan. Jurnal Akuntansi dan Keuangan Indonesia, 2(2), 49-72.
Pratama, B. & A. S. Adiwibowo. (2014). Analisis Faktor-Faktor yang Mempengaruhi Audit Delay dan Timeliness pada Perusahaan Publik di Indonesia (Studi Empiris pada Perusahaan yang Terdaftar Secara Konsisten di LQ45 pada Bursa Efek Indonesia). Diponegoro Journal of Accounting, 3(2), 1-12.
Purwanto, W. W.et al. (2016). Status and Outlook of Natural Gas Industry Development in Indonesia. Journal of Natural Gas Science and Engineering, 29, 55-65.
Rakhman, F. (2018). Can Partially Privatized SOEs Outperform Fully Private Firms? Evidence from Indonesia. Research in International Business and Finance, 45, 285-292.
Scott, W. R. (2015). Financial Accounting Theory. Seventh Edition. United States: Pearson.
Sekretaris Negara Republik Indonesia. (2003). Undang-Undang Republik Indonesia Nomor 19 Tahun 2003 Tentang Badan Usaha Milik Negara. https://www.komisiinformasi.go.id, accessed 7 January 2019.
Serrano-Cinca, C., B. Gutierrez-Nieto, & M. Bernate-Valbuena. (2018). The Use of Accounting Anomalies Indicators to Predict Business Failure. European Management Journal, Articles in Press.
Sugianto, D. 3 July (2017). 17 Saham Disuspensi Sekaligus, dari BTEL hingga ENRG. https://finance.detik.com, accessed 24 March 2018.
Suharli, M. & S. S. Harahap. (2008). Timeliness Laporan Keuangan di Indonesia (Studi Empiris Terhadap Emiten Bursa Efek Jakarta). Media Riset Akuntansi, Auditing, dan Informasi, 8(2), 97-116.
Suripto, B. (2013). Manajemen Labadan Manajemen Impresi dalam Laporan Tahunan: Penelitian Strategi Pengungkapan Perusahaan. Jurnal Akuntansi dan Keuangan Indonesia, 10(1), 40-59.
Wang, T. S., Y. M. Lin, E. M. Werner., & H. Chang. (2018). The relationship between external financing activities and earnings management: Evidence from enterprise risk management. International Review of Economics and Finance, 58, 312-329.
Wells, T. D. & C. Sevilla. (2001). Forming a Dialogue with Academia: Industry Requirements versus Academic Programs. Information Systems Management, 18(1), 80-83.
Widyawati, A. A. & V. Anggraita. (2013). Pengaruh Kovergensi, Kompleksitas Akuntansi, dan Probabilitas Kebangkrutan terhadap Timeliness dan Manajemen Laba. Jurnal Akuntansi dan Auditing Indonesia, 17(2), 135-155.
Ajina, A., M. Laouiti, & B.Msolli. (2016). Guiding through the Fog: Does Annual Report Readability Reveal Earnings management? Research in International Business and Finance. 38, 509-516.
Aktas, R. & M. Kargin. (2011). Timeliness of Reporting Quality of Financial Information. International Research Journal of Finance and Economics, 63, 71-77.
Bonson-Ponte, E., C.Borrero-Dominguez, & T. Escobar-Rodriguez. (2008). Empirical Analysis of Delays in the Signing of Audit Reports in Spain. International Journal of Auditing, 12(2), 129-140.
Braswell, M. & R. B. Daniels. (2017). Alternative Earnings Management Techniques: What Audit Committees and Internal Auditors Should Know. The Journal of Corporate Accounting and Finance, 28(2), 45-54.
Chen, R., S. E. Ghoul, O. Guedhami, & H. Wang. (2017). Do state and foreign ownership affect investment efficiency? Evidence from privatizations. Journal of Corporate Finance, 42, 408-421.
Chi, J. D. & M. Gupta. (2009). Overvaluation and Earnings Management. Journal of Banking and Finance, 33, 1652-1663.
Cho, H. & B. Song. (2017). Politically Connected Audit Committees, Earnings Quality and External Financing: Evidence from Korea. Asia-Pasific Journal of Financial Studies, 48(4), 609-634.
Christiani, I., & Y. W.Nugrahanti. (2014). Pengaruh Kualitas Audit terhadap Manajemen Laba. Jurnal Akuntansi dan Keuangan, 16(1), 52-62.
Claessens, S. & J. P. H. Fan. (2002). Corporate Governance in Asia: A Survey. International Review of Finance, 3(2), 71-103.
Clatworthy, M. A. and M. J. Peel. (2016). The Timeliness of UK Private Company Financial Reporting: Regulatory and Economic Influences. The British Accounting Review, 48(3), 1-29.
Dewi, R. R. (2005). Manajemen Laba, Kualitas Laba, dan Kredibilitas Laporan Keuangan. Media Riset Akuntansi, Auditing dan Informasi, 5(1), 25-39.
Dong, B., D. Robinson, & L. E.Xu.(2018). Auditor-Client Geographic Proximity and Audit Report Timeliness. Advances in Accounting,.40, 11-19.
Dutu, R. (2016). Challenger and Policies in Indonesias Energy Sector.Energy Policy, 98, 513-519.
Duygun, M., Y. Guney, & A. Moin. (2018). Dividend Policy of Indonesian Listed Firms: The Role of Families and State. Economic Modelling, 75, 336-354.
Dyer, J. C. IV. & A. J. McHugh. (1975). The Timeliness of The Australian Annual Report. Journal of Accounting Research, 13(2), 204-219.
Financial Accounting Standards Board. (2010). Statement of Financial Accounting Concepts No. 8 Conceptual Framework for Financial Reporting. https://www.fasb.org, accessed 31 December 2018.
Franedya, R. 02 July (2018). Tak Sampaikan Lapkeu 2017 Auditan, BEI Suspensi 10 Saham. https://www.cnbcindonesia.com, accessed 30 December 2018.
Gavious, I., E. Segev, & R. Yosef. (2012). Female Directors and Earnings Management in High-Technology Firms. Pasific Accounting Review, 24(1), 4-32.
Ghafran, C. & S.Yasmin. (2017). Audit Committee Chair and Financial Reporting Timeliness: A Focus on Financial, Experimental, and Monitoring Expertise. International Journal of Auditing, 22(1), 13-24.
Guedhami, O., J. A. Pittman, & W.Saffar. (2009). Auditor Choice in Privatized Firms: Empirical Evidence on the Role of State and Foreign Owners. Journal of Accounting and Economics, 48 (2-3), 151-171.
Gull, A. A., M. Nekhili, H. Nagati, & T.Chtioui. (2018). Beyond Gender Diversity: How Specific Attributes of Female Directors Affect Earnings Management. The British Accounting Review, 50(3), 255-274.
Ha, H. T. V., D. N. Hung, & N. T. T. Phuong. (2018). The Study of Factors Affecting the Timeliness of Financial Reports: The Experiments on Listed Companies in Vietnam. Asia Economic and Financial Review, 8(2), 294-307.
Hasan, M. H. et al. (2012). A Review on the Pattern of Electricity Generation and Emission in Indonesia from 1987 to 2009. Renewable and Sustainable Energy Review, 16(5), 3206-3219.
Healy, P. M. & J. M. Wahlen. (1999). A Review of the Earnings Management Literature and Its Implications for Standard Setting. Accounting Horizons, 13(4), 365-383.
Jensen, M. C. & W. H. Meckling. (1976). Theory Of The Firm: Managerial Behavior, Agency Cost And Ownership Structure. Journal of Financial Economics,. 3(4), 305-360.
Jogiyanto, H. (2013). Teori Portofolio dan Analisis Investasi. Edisi Kedelapan. Yogyakarta: BPFE.
Ketua Dewan Komidioner Otoritas Jasa Keuangan. Peraturan Otoritas Jasa Keuangan (POJK) No. 29 / POJK. 04/2016 tentang Laporan Tahunan Emiten atau Perusahaan Publik. https://www.ojk.go.id, accessed 25 December 2018.
Khasharmeh, H. A. & K.Aljifri. (2010). The Timeliness of Annual Reports in Bahrain and the United Arab Emirates: An Empirical Comparative Study. The International Journal of Business and Finance Research, 4(1), 51-71.
Krishnan, G. V. & L. M. Parsons. (2008). Getting to the Bottom Line: An Exploration of Gender and Earnings Quality. Journal of Business Ethics, 78(1), 65-76.
Kurniawan, R. & S.Managi.2018. Coal Consumption, Urbanization, and Trade Openness Linkage in Indonesia. Energy Policy, 121, 576-583.
Kusuma, H. (2006). Dampak Manajemen Laba terhadap Relevansi Informasi Akuntansi: Bukti Empiris dari Indonesia. Jurnal Akuntansi dan Keuangan, 8(1), 1-12.
Li, J. & L. Yu. (2018). How Does State-owned Shares Affect Double Externalities and Industrial Performance: Evidence from Chinas Exhaustible Resources Industry. Journal of Cleaner Production, 176, 920-928.
Lie, N. Y. S. (2012). Faktor-Faktor yang Mempengaruhi Ketepatan Waktu Penyampaian Laporan Keuangan pada Perusahaan Pertambangan di BEI periode 2008-2010. Jurnal Ilmiah Mahasiswa Akuntansi,1(1), 27-32.
McGee, R. W., T. Tarangelo, & M. Tyler. (2009). Chapter 15 The Timeliness of Financial Reporting: A Comparative Study of Companies in Russia and the USA. Corporate Governance in Transition Economics, 157-163.
McGee, R. W., M. Tyler, T. Tarangelo, & D. N.Igoe. (2009). Chapter 16 the Timeliness of Financial Reporting: A Comparative Study of Companies in Russia and the European Union. Corporate Governance in Transition Economics, 165-171.
McGee, R. W., X. Yuan, M. Tyler, & T.Tarangelo. (2009). Chapter 17 The Timeliness of Financial Reporting: A Comparative Study of Peoples Republic of China and Russia. Corporate Governance in Transition Economics, 173-179.
Melani, A. (2016). Belum Sampaikan Laporan Tahunan, BEI Beri Sanksi ke 63 Emiten. http://www.liputan6.com, accessed 24 March 2018.
Menteri Hukum dan Hak Asasi Republik Indonesia. (2012). Peraturan Pemerintah Republik Indonesia Nomor 24 Tahun 2012 tentang Perubahan Atas Peraturan Pemerintah Nomor 23 Tahun 2010 tentang Pelaksanaan Kegiatan Usaha Pertambangan Mineral Dan Batubara. http://eiti.ekon.go.id, accessed 7 January 2019.
Menteri Hukumdan Hak Asasi Republik Indonesia. (2015). Peraturan Menteri Pertanian Republik Indonesia Nomor: 26/Permentan/ Hk.140/4/2015 tentang Syarat, Tata Cara Dan Standar Operasional Prosedur Pemberian Rekomendasi Teknis Izin Usaha Di Bidang Pertanian Dalam Rangka Penanaman Modal. https://www.bkpm.go.id, accessed 7 January 2019.
Permatasari, I. (2005). Manajemen Laba dan Status Keterlambatan Perusahaan dalam Menyampaikan Laporan Keuangan Tahunan. Jurnal Akuntansi dan Keuangan Indonesia, 2(2), 49-72.
Pratama, B. & A. S. Adiwibowo. (2014). Analisis Faktor-Faktor yang Mempengaruhi Audit Delay dan Timeliness pada Perusahaan Publik di Indonesia (Studi Empiris pada Perusahaan yang Terdaftar Secara Konsisten di LQ45 pada Bursa Efek Indonesia). Diponegoro Journal of Accounting, 3(2), 1-12.
Purwanto, W. W.et al. (2016). Status and Outlook of Natural Gas Industry Development in Indonesia. Journal of Natural Gas Science and Engineering, 29, 55-65.
Rakhman, F. (2018). Can Partially Privatized SOEs Outperform Fully Private Firms? Evidence from Indonesia. Research in International Business and Finance, 45, 285-292.
Scott, W. R. (2015). Financial Accounting Theory. Seventh Edition. United States: Pearson.
Sekretaris Negara Republik Indonesia. (2003). Undang-Undang Republik Indonesia Nomor 19 Tahun 2003 Tentang Badan Usaha Milik Negara. https://www.komisiinformasi.go.id, accessed 7 January 2019.
Serrano-Cinca, C., B. Gutierrez-Nieto, & M. Bernate-Valbuena. (2018). The Use of Accounting Anomalies Indicators to Predict Business Failure. European Management Journal, Articles in Press.
Sugianto, D. 3 July (2017). 17 Saham Disuspensi Sekaligus, dari BTEL hingga ENRG. https://finance.detik.com, accessed 24 March 2018.
Suharli, M. & S. S. Harahap. (2008). Timeliness Laporan Keuangan di Indonesia (Studi Empiris Terhadap Emiten Bursa Efek Jakarta). Media Riset Akuntansi, Auditing, dan Informasi, 8(2), 97-116.
Suripto, B. (2013). Manajemen Labadan Manajemen Impresi dalam Laporan Tahunan: Penelitian Strategi Pengungkapan Perusahaan. Jurnal Akuntansi dan Keuangan Indonesia, 10(1), 40-59.
Wang, T. S., Y. M. Lin, E. M. Werner., & H. Chang. (2018). The relationship between external financing activities and earnings management: Evidence from enterprise risk management. International Review of Economics and Finance, 58, 312-329.
Wells, T. D. & C. Sevilla. (2001). Forming a Dialogue with Academia: Industry Requirements versus Academic Programs. Information Systems Management, 18(1), 80-83.
Widyawati, A. A. & V. Anggraita. (2013). Pengaruh Kovergensi, Kompleksitas Akuntansi, dan Probabilitas Kebangkrutan terhadap Timeliness dan Manajemen Laba. Jurnal Akuntansi dan Auditing Indonesia, 17(2), 135-155.
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2020-10-14
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Putri, S. A., & Aryani, Y. A. (2020). Earnings Management Index, State Ownership, Industrial Sectors, and Timeliness of Financial Report in Indonesia. AKRUAL: Jurnal Akuntansi, 11(2), 53–65. https://doi.org/10.26740/jaj.v11n2.p53-65
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