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"Penelitian ini bertujuan untuk meneliti pengaruh enforcement audit dan akuntansi terhadap hubungan adopsi IFRS dengan lingkungan informasi analis keuangan. Proksi lingkungan informasi analis keuangan yang digunakan ialah kesalahan prakiraan laba analis keuangan (Analyst Forecast Error) dan jumlah analyst following. Tingkat enforcement negara diukur dengan proksi yang merujuk pada Preiato et al. (2013) yang berfokus pada enforcement audit dan akuntansi. Hasil penelitian ini menunjukkan bahwa adopsi IFRS tidak memiliki pengaruh negatif pada kesalahan prakiraan laba analis keuangan dan tidak memiliki pengaruh positif pada jumlah analyst following apabila tidak mempertimbangkan tingkat enforcement sebuah negara. Hal ini mengimplikasikan bahwa adopsi IFRS tidak memiliki pengaruh signifikan apabila tidak diiringi dengan adanya kegiatan enforcement sebuah negara. Penelitian ini juga memberikan bukti bahwa pengaruh adopsi IFRS terhadap prakiraan laba analis dan jumlah analyst following lebih besar di negara-negara dengan tingkat enforcement yang rendah.

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This study aims to investigate the effect of auditing and accounting enforcement to the relation between IFRS adoption and financial analysts’ information environment. This study uses analyst forecast error and number of analyst following as the proxies to measure the financial analysts’ information environment. For the enforcement level, this study uses the proxies that have been developed by Preaito et al. (2013). This study finds that IFRS adoption does not have any negative effect to analyst forecast error and positive effect to analyst following if the enforcement level is not being considered. This implies that without the enforcement activities, IFRS adoption does not have any significant effect to financial analysts’ information environment. This study also provides the evidence of the effect of IFRS adoption on analysts’ earnings forecasts and number of analyst following is larger in low enforcement countries."

"[Penelitian bertujuan untuk memberikan bukti empiris mengenai pengaruh kepemilikan terkonsentrasi dan analyst following terhadap likuiditas saham, khususnya mengenai adanya risiko ekspropriasi terhadap pemegang sahamminoritas. Selain itu penelitian ini juga meneliti peran moderasi ukuran perusahaan terhadap hubungan struktur kepemilikan terkonsentrasi dan analyst following terhadap likuiditas saham. Kepemilikan saham diukur menggunakanselisih antara control right dan cash-flow right dari pemegang saham terbesar. Likuiditas diukur dengan adjusted Amihud Illiquidity. Sampel penelitian adalah perusahaan yang terdaftar di Bursa Efek Indonesia selama periode penelitian tahun 2010-2014. Hasil penelitian menemukan bahwa analyst following berhubungan positif dengan likuiditas. Semakin besar ukuran perusahaan,pengaruh positif tersebut semakin menurun.

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The study aims to provide empirical evidence about the effect of concentrated ownership and analyst following on the liquidity of the stock, particularly regarding the risk of expropriation of the minority shareholders. In

addition, this study also examines the role of size as moderating variable on the association concentrated ownership structure and analyst following on the liquidity of the stock. Share ownership is measured using the difference between control right and cash-flow rights of the largest shareholders. Liquidity is measured by adjusted Amihud Illiquidity. The samples were companies listed on the Indonesia Stock Exchange during the study period 2010-2014. The study found that analyst following positively related to liquidity. The larger the size of

the company, the positive effect decreases.;The study aims to provide empirical evidence about the effect of

concentrated ownership and analyst following on the liquidity of the stock,

particularly regarding the risk of expropriation of the minority shareholders. In

addition, this study also examines the role of size as moderating variable on the

association concentrated ownership structure and analyst following on the

liquidity of the stock. Share ownership is measured using the difference between

control right and cash-flow rights of the largest shareholders. Liquidity is

measured by adjusted Amihud Illiquidity. The samples were companies listed on

the Indonesia Stock Exchange during the study period 2010-2014. The study

found that analyst following positively related to liquidity. The larger the size of

the company, the positive effect decreases., The study aims to provide empirical evidence about the effect of

concentrated ownership and analyst following on the liquidity of the stock,

particularly regarding the risk of expropriation of the minority shareholders. In

addition, this study also examines the role of size as moderating variable on the

association concentrated ownership structure and analyst following on the

liquidity of the stock. Share ownership is measured using the difference between

control right and cash-flow rights of the largest shareholders. Liquidity is

measured by adjusted Amihud Illiquidity. The samples were companies listed on

the Indonesia Stock Exchange during the study period 2010-2014. The study

found that analyst following positively related to liquidity. The larger the size of

the company, the positive effect decreases.]"

"Penelitian ini bertujuan untuk menguji asosiasi antara kualias pelaporan keuangan dengan efisiensi investasi di ASEAN. Penelitian ini juga menguji peran analyst following dalam memoderasi asosiasi antara kualitas pelaporan keuangan dengan efisiensi investasi. Penelitian ini menggunakan sampel sejumlah 9.335 observasi yang berasal dari Indonesia, Malaysia, Filipina, Singapura, dan Thailand dalam periode 2007-2012.Hasil penelitian ini menunjukkan bahwa kualitas pelaporan keuangan cenderung berpengaruh terhadap efisiensi investasi, yakni berpengaruh negatif terhadap underinvestment. Namun demikian, kualitas pelaporan keuangan tidak berpengaruh signifikan terhadap overinvestment. Hasil yang berbeda ini dimungkinkan karena kondisi underinvestment lebih banyak terjadi pada perusahaan di ASEAN, yang disebabkan negara-negara berkembang cenderung kesulitan dalam memperoleh pembiayaan eksternal. Hasil penelitian ini juga menunjukkan bahwa analyst following tidak memoderasi asosiasi antara kualitas pelaporan keuangan dengan efisiensi investasi, baik untuk kondisi underinvestment maupun overinvestment. Hal ini dimungkinkan karena analyst following lebih efektif berperan sebagai monitor perusahaan saat berada di negara dengan tingkat perkembangan keuangan yang tinggi dibandingkan di negara dengan tingkat perkembangan keuangan yang rendah. Sedangkan ASEAN masih berada pada tingkat perkembangan keuangan yang rendah dibandingkan dengan kawasan ekonomi lainnya di dunia.

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This study aims to investigate the association of financial reporting quality on investment efficiency in ASEAN. This study also aimed to investigate the role of analyst following in moderating the association of financial reporting quality on investment efficiency. This study used 9.335 year-observation from Indonesia, Malaysia, Philippines, Singapore, and Thailand for the period of 2007-2012 as the sample.

The results suggest that financial reporting quality tends to affect investment efficiency, that is negatively associated with underinvestment. Meanwhile, financial reporting quality does not significantly affect overinvestment. Different results are possible because the underinvestment condition is more common in ASEAN. Developing countries will tend to have difficulties in obtaining external financing.

Other results of the study show that analyst following can not moderate the negative association of financial reporting quality and investment efficiency, either for underinvestment or overinvestment. This is maybe due to analyst following is more effective in monitoring the companies in countries with high level of financial development than in countries with low level of financial development. While ASEAN is still at a low level of financial development compared with other economic regions in the world."