Apakah Kepemilikan Manajerial dapat Memoderasi Pengaruh Kecurangan dalam Pelaporan Keuangan terhadap Nilai Perusahaan
Abstract
Nilai perusahaan didefinisikan sebagai nilai pasar. Pihak internal perusahaan yang melakukan kecurangan pelaporan keuangan dengan tujuan menutupi keadaan keuangan sebenarnya untuk mempertahankan nilai perusahaan. Dimana pihak internal perusahaan yang memiliki saham manajerial diduga dapat memoderasi tindakan kecurangan dalam pelaporan keuangan terhadap nilai perusahaan. Penelitian ini bertujuan untuk mengetahui apakah kepemilikan manajerial dapat memoderasi pengaruh kecurangan dalam pelaporan keuangan terhadap nilai perusahaan. Ada sebanyak 359 perusahaan yang dijadikan sebagai objek dalam penelitian ini dan data yang digunakan adalah laporan keuangan perusahaan terbuka yang terdaftar dalam bursa efek Indonesia pada tahun 2016-2020. Hasil pengumpulan data kemudian diuji dengan sistem regresi panel dan menghasilkan bahwasanya terdapat hubungan negatif antara kecurangan dalam pelaporan keuangan dengan nilai perusahaan. Kepemilikan manajerial sebagai variabel moderasi tidak dapat memoderasi hubungan antara kecurangan pelaporan keuangan terhadap nilai perusahaan.
Kata Kunci: nilai perusahaan, kecurangan dalam pelaporan keuangan, kepemilikan manajerial.
Abstract
Firm value is defined as market value. Fraudulent financial reporting is carried out by internal parties of the company to cover up the actual financial situation to maintain the company's value. The company's internal parties who have managerial shares are suspected of being able to moderate fraudulent actions in financial reporting on the company's value. The purpose of this study was to determine whether managerial ownership can moderate the effect of fraudulent financial reporting on firm value. 359 companies are used as objects in this study and the data used are the financial statements of public companies listed on the Indonesian stock exchange in 2016-2020. The results of data collection were then tested with a panel regression system and resulted that there was a negative relationship between fraud in financial reporting and firm value. Managerial ownership as a moderating variable could not moderate the relationship between fraudulent financial reporting and firm value.
Keywords: Firm value, fraudulent financial reporting, managerial ownership.
Full Text:
Download PDFReferences
Adam, M., Hakiki, A., Saftiana, Y., & Halimah, D. (2020). Managerial Ownership , Investment Opportunity Set and Firm Value of the Family Companies Listed on Indonesia Stock Exchange. 2(2), 104–117.
Aghghaleh, S. F., Mohamed, Z. M., & Rahmat, M. M. (2016). Detecting Financial Statement Frauds in Malaysia: Comparing the Abilities of Beneish and Dechow Models. Asian Journal of Accounting and Governance, 7, 57–65. https://doi.org/10.17576/ajag-2016-07-05
Association of Certified Fraud Examiners (ACFE). (2018). Report To the Nations 2018 Global Study on Occupational Fraud and Abuse.
Association of Certified Fraud Examiners (ACFE) Indonesia. (2019). Survei Fraud Indonesia 2019. Indonesia Chapter #111, 53(9), 1–76. https://acfe-indonesia.or.id/survei-fraud-indonesia/
Danduru, B. p, Amiruddin, & Pontoh, G. T. (2020). The Effect of Earnings Management, Income Smoothing, Fraudulent Financial Reporting on Firm Value with Independent Commissioners as Moderation Variables. 8(10), 712–721.
Dechow, P. M., Ge, W., Larson, C. R., & Sloan, R. G. (2011). Predicting Material Accounting Misstatements. Contemporary Accounting Research, 28(1), 17–82. https://doi.org/10.1111/j.1911-3846.2010.01041.x
Dunn, P. (2004). The impact of insider power on fraudulent financial reporting. Journal of Management, 30(3), 397–412. https://doi.org/10.1016/j.jm.2003.02.004
Elviani, D., Ali, S., & Kurniawan, R. (2020). Pengaruh Kecurangan Laporan Keuangan terhadap Nilai Perusahaan: Ditinjau dari Perspektif Fraud Pentagon (Kasus di Indonesia). Jurnal Ilmiah Universitas Batanghari Jambi, 20(1), 121. https://doi.org/10.33087/jiubj.v20i1.828
Hapsoro, D., & Handayani, N. (2020). Does managerial ownership, audit committee, and audit quality moderate the effect of fraudulent financial reporting on company value? International Journal of Scientific and Technology Research, 9(4), 1037–1044.
Karoma, Y., & Rura, Y. (2020). Antesedential Beliefs of Financial Statements and Its Impact on Company Value. 8(12), 50–57.
Khan, M. A., Ullah, R., & Shah, N. H. (2012). A Relationship between Insider’s Ownership and Firm Value: A Case of Pakistani Companies. SSRN Electronic Journal, 2(9), 1519–1532. https://doi.org/10.2139/ssrn.2127100
Klapper, L. F., & Love, I. (2005). Corporate Governance, Investor Protection and Performance in Emerging Markets. SSRN Electronic Journal. https://doi.org/10.2139/ssrn.303979
Kusumawati, E., & Setiawan, A. (2019). the Effect of Managerial Ownership, Institutional Ownership, Company Growth, Liquidity, and Profitability on Company Value. Riset Akuntansi Dan Keuangan Indonesia, Vol 4, No 2 (2019), 136–146. https://doi.org/10.23917/reaksi.v4i2.8574
Lumapow, L. S. (2019). The Effect of Investment and Non-Monotonic of Managerial Ownership on Corporate Value. International Journal of Applied Business and International Management, 4(1), 71–82. https://doi.org/10.32535/ijabim.v4i1.384
Rukmana, H. S. (2018). Pentagon Fraud Affect on Financial Statement Fraud and Firm Value Evidence in Indonesia. South East Asia Journal of Contemporary Business, 16(5), 118–122.
Skousen, C. J., & Twedt, B. J. (2009). Fraud score analysis in emerging markets. Cross Cultural Management: An International Journal, 16(3), 301–316. https://doi.org/10.1108/13527600910977373
Sukirni, D. (2012). Kepemilikan Manajerial, Kepemilikan Institusional, Kebijakan Deviden Dan Kebijakan Hutang Analisis Terhadap Nilai Perusahaan. Accounting Analysis Journal, 1(2). https://doi.org/10.15294/aaj.v1i2.703
Sukrisniadi, D. (2010). Pemakaian Ukuran F-Score Dalam Kasus-Kasus Indonesia.
Syahrum, & Salim. (2012). Metodologi Penelitian Kuantitatif (p. Bandung : Cipustaka Media).
Wulandari, N., Mardani, R. M., & Wahono, B. (2017). Pengaruh Struktur Kepemilikan dan Keputusan Keuangan Terhadap Nilai Perusahaan: Profitabilitas Sebagai Variabel Moderating. E-Jurnal Riset Manajemen, 37–51. www.fe.unisma.ac.id
Yammeesri, J., Lodh, S. C., & Herath, S. K. (2006). Influence of ownership structure and corporate performance precrisis: Evidence from Thailand. International Journal of Electronic Finance, 1(2), 181–199. https://doi.org/10.1504/IJEF.2006.010315
DOI: https://doi.org/10.37531/sejaman.v4i2.1200
Refbacks
- There are currently no refbacks.
