The Effect of Leverage Towards Dividend Policy with Creative Accounting as The Mediation Variable

Authors

  • Kurniawan Dwi Pradipta Accounting Department, Faculty of Economics, Universitas Negeri Surabaya
  • Susi Handayani Accounting Department, Faculty of Economics, Universitas Negeri Surabaya

DOI:

https://doi.org/10.26740/jaj.v11n2.p122-135

Keywords:

Bank, Creative Accounting, Dividend Policy, Leverage

Abstract

The purpose of this study was to examine the effect of the leverage ratio on dividend policy mediated by creative accounting. This research is based on the existence of a dividend policy which is influenced by various factors, including debt to equity ratio. A high debt-to-equity ratio indicates a high risk because high corporate debt will have an impact on high-interest costs and debt burdens that must be paid. This will result in a small number of dividends being distributed to investors. Meanwhile, investors are very interested in the high dividend payout and receive cash according to the Bird-in-Hand Theory. This study will examine registered banking companies in Indonesia from 2014 to 2018. The sample was taken by a purposive random sampling technique. The independent variable used in this research is leverage measured with debt-to-equity ratio (DER). The dependent variable used in this research is dividend policy measured with dividend payout ratio (DPR) and the mediation variable used in this research is creative accounting measured with discretionary accrual (DA). The results in this research indicate that leverage has a negative effect on creative accounting and also creative accounting cannot mediate a relationship between leverage towards dividend policy.

References

Amar, A. Ben, Salah, O. Ben, & Jarboui, A. (2018). Do Discretionary Accruals Affect Firms’ Corporate Dividend Policy? Evidence from France. Journal of Financial Reporting and Accounting, 16(2), 333–347. https://doi.org/10.1108/JFRA-03-2017-0020

Ardli, D. M., & Yuliandhari, W. S. (2019). Pengaruh Pajak Tangguhan, Profitabilitas, Dan Leverage Terhadap Earnings Management (Studi Pada Perusahaan Perbankan Yang Terdaftar Pada BEI 2010-2017). Journal of Chemical Informationand Modeling, 3(9), 210–223. https://doi.org/10.1017/CBO9781107415324.004

Awwad, B. (2015). Determinants of Dividend Policy in Kuwait Stock Exchange. International Journal of Business and Management Review, 3(March), 72–78.Bhasin, M. L. (2016). Survey ofCreative Accounting Practices: an Empirical Study. Wulfenia Journal, 23(1), 143–16. Retrieved from https://www.researchgate.net/publication/289675037

Chandra, R., Mangantar, M., & Oroh, S. G. (2016). Analisis Kinerja Keuangan PT Bank Syariah Mandiri dan PT Bank Mandiri Tbk dengan Menggunakan Metode CAMEL. Jurnal Berkala Ilmiah Efisiensi, 16(2), 2010–2016.

Darmawan, D. (2013). Metode Penelitian Kuantitatif(P. Latifah, Ed.). Bandung: PT Remaja Rosadakarya Offset.

Fillya, A., Ervita, S., & Rini, A. (2015). Pengaruh Likuiditas, Leverage, Profitabilitas, Ukuran Perusahaan dan Growth Terhadap Kebijakan Dividen. Akuntansi, 1(1), 2–4.

Ghozali, I. (2016). Aplikasi Analisis Multivariate dengan Program IBM SPSS 23. Semarang: Badan Penerbit -Undip.

Hasty, A. D., & Herawaty, V. (2017). Pengaruh Struktur Kepemilikan, Leverage, Profitabilitas Dan Kebijakan Dividen Terhadap Manajemen Laba Dengan Kualitas Audit Sebagai Variabel Moderasi. Media Riset Akuntansi, Auditing & Informasi, 17(1), 1. https://doi.org/10.25105/mraai.v17i1.2023

Indracahya, E., & Faisol, D. A. (2017). The Effect of Good Corporate Governance Elemets, Leverage, Firm Age, Company Size and Profitability On Earning Management (Empirical Study Of Manufacturing Companies in BEI 2014-2016). Profita, 10(2), 203–227.

Irawati, N., Marlina, L., & Sipayung, F. (2019). Analysis of the impact of Leverage, Value Added and Size on Earning Management and Financial Performance of Indonesian Shariah Banking. 100(Icoi), 404–409. https://doi.org/10.2991/icoi-19.2019.69

Jogiyanto. (2007). Metode Penelitian Bisnis : Salah Kaprah dan Pengalaman-pengalaman. Yogyakarta: BPFE Yogyakarta.

Kadir, A. (2016). Analisis Faktor-Faktor Yang Mempengaruhi Kebijakan Dividen Pada Perusahaan Credit Agencies Go Public Di Bursa Efek Indonesia. Jurnal Manajemen Dan Akuntansi, 11, 10–20.

Otoritas Jasa Keuangan. (2018). Statistik Perbankan Indonesia. Retrieved from https://www.ojk.go.id/id/kanal/perbankan/data-dan-statistik/statistik-perbankan-indonesia/Documents/Pages/Statistik-Perbankan-Indonesia---Desember-2018/SPI Desember 2018.pdf

Purnama, D. (2017). Pengaruh Profitabilitas, Leverage, Ukuran Perusahaan, Kepemilikan Institusional dan Kepemilikan Manajerial Terhadap Manajemen Laba. Jurnal Riset Keuangan Dan Akuntansi, 3(1), 1–14. https://doi.org/10.25134/jrka.v3i1.676

Rachman, F. F. (2018). Bank Bukopin Permak Laporan Keuangan, Ini Kata BI dan OJK. Retrieved April 16, 2020, from Detik Finance website: https://finance.detik.com/moneter/d-3994551/bank-bukopin-permak-laporan-keuangan-ini-kata-bi-dan-ojk

Rahmayeli, D. S., & Marlius, D. (2017). Analisis Kinerja Keuangan Pada PT . Bank Perkreditan Rakyat (BPR) Batang Kapas Pesisir Selatan. Akademi Keuangan Dan Perbankan Padang, 1–7. https://doi.org/https://doi.org/10.31227/osf.io/sz5db

Remenaric, B., Kenfelja, I., & Mijoc, I. (2018). Creative Accounting –Motives , Techniques and Possibilities of Prevention. Ekonomski Vjesnik/Econviews, 1, 193–197.

Riduwan, & Kuncoro. (2012). Cara Menggunakan dan Memaknai Path Analysis (Analisis Jalur). Bandung: Alfabeta.Sarwono, J. (2012). Path Analysis Teori, Aplikasi, Prosedur Analisis, untuk Riset Skripsi, Tesis dan Disertasi (Menggunakan SPSS). Jakarta: PT Elex Media Komputindo.

Selviani, A. H. (2017). Pengaruh Profitabilitas, Leverage dan Ukuran Perusahaan terhadap Manajemen Laba.Sugiyono. (2010). Statistik Untuk Pendidikan. Bandung: Alfabeta.

Sugiyono. (2011). Metode Penelitian Kombinasi (Mixed Methods). Bandung: Alfabeta.Suharli, M. (2019). Studi Empiris Mengenai Pengaruh Profitabilitas, Leverage dan Harga Saham terhadap Jumlah Dividen Tunai. Jurnal Manajemen, Akuntansi Dan Sistem Informasi, 53(9), 245–246. https://doi.org/10.1017/CBO9781107415324.004

Sujarweni, V. W., & Endrayanto, P. (2012). Statistika Untuk Penelitian. Yogyakarta: Graha Ilmu.Sukmana, Y. (2018). Ini 10 BUMN dengan Utang Terbesar, Ada yang Tembus Rp 1.000 Triliun. Retrieved March 3, 2020, from https://ekonomi.kompas.com/read/2018/12/03/171051326/ini-10-bumn-dengan-utang-terbesar-ada-yang-tembus-rp-1000-triliun?page=all

Suyono, E. (2017). Bebagai Model Pengukuran Earnings Management : Mana Yang Paling Akurat. Sustainable Competitive Advantage-7 (Sca-7) F, 7(Universitas Jenderal Soedirman), 303–324. Retrieved from https://www.researchgate.net/profile/Eko_Suyono2/publication/321490082_Berbagai_Model_Pengukuran_Earnings_Management_Mana_yang_Paling_Akurat/links/5a2793cea6fdcc8e866e792d/Berbagai-Model-Pengukuran-Earnings-Management-Mana-yang-Paling-Akurat.pdf

Tjungandi, M., & Mulyana, R. A. (2018). The Influence of Creative Accounting and Other Factors To Dividend Payout Ratio. Jurnal Bisnis Dan Akuntansi, 20(1), 51–58. https://doi.org/10.34208/jba.v20i1.408

Triani, A. (2017). Creative Accounting sebagai Informasi yang Baik atau Meneysatkan ? Jurnal AKRUAL, 3(2), 1–13.

Watts, R., & Zimmerman, J. . (1978). Towards A Positive Theory of The Determination of Accounting Standards. Accounting Review, 112–133.

Yasa, K. M., & Wirawati, N. (2016). Pengaruh Net Profit Margin, Current Ratio, dan Debt To Equity Ratio pada Dividend Payout Ratio. E-Jurnal Akuntansi, 16(2), 921–950.

Yusuf, M. (2014). Metodologi Penelitian Kuantitatif, Kualitatif, dan Penelitian Gabungan(Edisi Keenam). Jakarta: Pranada Media.

Downloads

Additional Files

Published

2020-10-14

How to Cite

Pradipta, K. D., & Handayani, S. (2020). The Effect of Leverage Towards Dividend Policy with Creative Accounting as The Mediation Variable. AKRUAL: Jurnal Akuntansi, 11(2), 122–135. https://doi.org/10.26740/jaj.v11n2.p122-135
Abstract views: 646 , PDF Downloads: 584 , PDF Downloads: 0