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UI - Tesis (Membership) :: Kembali

Pengaruh manajemen laba akrual dan manajemen laba riil terhadap yield spread obligasi = The effect of accrual earnings management and real earnings management on bond yield spreads

Dwi Handarini; Ancella Anitawati Hermawan, supervisor; Cynthia Afriani, examiner; Elizabeth Imelda, examiner ([Publisher not identified] , 2014)

 Abstrak

[ABSTRAK
Penelitian ini dilakukan untuk mengetahui pengaruh manajemen laba akrual dan
manajemen laba riil terhadap yield spread obligasi. Praktik manajemen laba dalam
penelitian ini diukur dengan discretionary accrual yang dikembangkan oleh
Kothari (2005). Semantara itu, manajemen laba riil pada penelitian ini diukur
dengan pengukuran manajemen laba riil yang telah dikembangkan oleh
Roychowdhury (2006). Pengujian hipotesis penelitian ini dilakukan dengan
menggunakan data panel unbalance dengan jumlah observasi sebanyak 159
observasi. Jumlah observasi tersebut terdiri dari 78 sampel obligasi yang
diterbitkan oleh 34 perusahaan non-keuangan yang terdaftar di Bursa Efek
Indonesia pada tahun 2009 hingga 2013. Hasil penelitian ini menunjukkan bahwa
manajemen laba akrual berpengaruh positif terhadap yield spread obligasi.
Sementara itu, CFO abnormal dan biaya diskresioner abnormal yang merupakan
komponen pengelolaan manajemen laba riil diketahui berpengaruh negatif
terhadap yield spread. Hal ini mengindikasikan bahwa bondholders menyadari
tindakan manajemen laba akrual sebagai tindakan oportunis, sehingga
meningatkan risiko dan menuntut pengembalian yang tinggi. Akan tetapi,
bondholder belum mampu mengetahui dampak negatif manajemen laba melalui
aktivitas riil.

ABSTRACT
This research aimed to know the effect of accrual earnings management and real
earnings management on bond yield spreads. Accrual earnings management in
this research measured by discretionary accrual Kothari model. While real
earnings management measured by real earnings management models that were
developed by Roychowdhury (2006). Hypothesis testing of this research used
panel regression with 159 observations. Observations in this research consist of 78
bonds sample from 34 companies that are listed at Indonesia Stock Exchange
since 2009 until 2014. The result of this research showed that accrual earnings
management has positive effect on yield spread. Whereas, abnormal CFO and
abnormal discretionary expenses that measured real earnings management have
negative effect on yield spread. These result implied that bondholders perceive
accrual earnings management as opportunistic behavior that increased risk factor
and thus required high return (yield). However, bondholder have not realized the
negative effect of real earnings management;This research aimed to know the effect of accrual earnings management and real
earnings management on bond yield spreads. Accrual earnings management in
this research measured by discretionary accrual Kothari model. While real
earnings management measured by real earnings management models that were
developed by Roychowdhury (2006). Hypothesis testing of this research used
panel regression with 159 observations. Observations in this research consist of 78
bonds sample from 34 companies that are listed at Indonesia Stock Exchange
since 2009 until 2014. The result of this research showed that accrual earnings
management has positive effect on yield spread. Whereas, abnormal CFO and
abnormal discretionary expenses that measured real earnings management have
negative effect on yield spread. These result implied that bondholders perceive
accrual earnings management as opportunistic behavior that increased risk factor
and thus required high return (yield). However, bondholder have not realized the
negative effect of real earnings management, This research aimed to know the effect of accrual earnings management and real
earnings management on bond yield spreads. Accrual earnings management in
this research measured by discretionary accrual Kothari model. While real
earnings management measured by real earnings management models that were
developed by Roychowdhury (2006). Hypothesis testing of this research used
panel regression with 159 observations. Observations in this research consist of 78
bonds sample from 34 companies that are listed at Indonesia Stock Exchange
since 2009 until 2014. The result of this research showed that accrual earnings
management has positive effect on yield spread. Whereas, abnormal CFO and
abnormal discretionary expenses that measured real earnings management have
negative effect on yield spread. These result implied that bondholders perceive
accrual earnings management as opportunistic behavior that increased risk factor
and thus required high return (yield). However, bondholder have not realized the
negative effect of real earnings management]

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 Metadata

Jenis Koleksi: UI - Tesis (Membership)
No. Panggil : T-Pdf
Entri utama-Nama orang :
Entri tambahan-Nama orang :
Entri tambahan-Nama badan :
Subjek :
Penerbitan : [Place of publication not identified]: [Publisher not identified], 2014
Program Studi :
Sumber Pengatalogan : LibUI ind rda
Tipe Konten : text
Tipe Media : computer
Tipe Carrier : online resource
Deskripsi Fisik : xv, 142 pages : illustration ; 28 cm + appendix
Catatan Bibliografi : pages 96-100
Lembaga Pemilik : Universitas Indonesia
Lokasi : Perpustakaan UI, Lantai 3
  • Ketersediaan
  • Ulasan
No. Panggil No. Barkod Ketersediaan
T-Pdf 15-17-132090580 TERSEDIA
Ulasan:
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