BAB V PENUTUP. abnormal production, abnormal discretiornary expenses, dan REM Index. tidak berpengaruh terhadap real earnings management.

Transkripsi

1 BAB V PENUTUP 5.1. Simpulan Hasil dari penelitian ini menunjukkan bahwa kualitas audit tidak berpengaruh terhadap real earnings management. Hasil penelitian ini menunjukkan bahwa kualitas audit tidak berpengaruh terhadap masing-masing proxy real earnings management yaitu abnormal cash flow from operations, abnormal production, abnormal discretiornary expenses, dan REM Index. Kurangnya variabilitas sampel, insentif yang kuat untuk melakukan manajemen laba pada suspect firms, dan KAP big 4 yang belum tentu memberikan kualitas audit yang baik mungkin membuat hasil penelitian ini menunjukkan kualitas audit tidak berpengaruh terhadap real earnings management. Hasil penelitian ini menyanggah beberapa hasil penelitian sebelumnya yang dilakukan Chi et al. (2011) dimana dimana kualitas audit yang diproksikan dengan BigN berpengaruh terhadap abnormal cash flow from operations dan REM Index. Namun hasil penelitian ini tidak sepenuhnya menolak penelitian Chi et al. (2011). hasil penelitian ini menunjukkan bahwa kualitas audit yang diproksikan dengan BigN tidak berpengaruh terhadap abnormal production dan abnormal discretiornary expenses yang juga ditunjukkan oleh penelitian Chi et al. (2011) 65

2 Keterbatasan dan Saran Keterbatasan dalam penelitian ini adalah penulis hanya mengetahui real earnings management untuk perusahaan manufaktur sehingga penelitian ini hanya menggunakan sampel perusahaan manufaktur. Penelitian selanjutnya diharapkan meneliti pengaruh kualitas audit terhadap real earnings management pada perusahaan non manufaktur. Selain itu, penelitian selanjutnya bisa melengkapinya dengan melihat pengaruh kualitas audit terhadap real earnings management pada perusahaan yang tidak memiliki insentif melakukan manajemen laba.

3 DAFTAR PUSTAKA Balsam, S., J. Khrisnan, and J., Young, (2003), Auditor Industry Specialization and Earnings Quality, Auditing: Journal of Practice and Theory 22 (2): Becker, C., M. Defond, J. Jiambalvo, and K. R. Subramanyam, (1998), The Effect of Audit Quality on Earnings Management, Contemporary Accounting Research 15 (1): Chi, Wuchun, Ling Lei Lisic, and Mikhail Pevzner, (2011), Is Enhanced Audit Quality Associated with Greater Real Earnings Management?, Accounting Horizons 25 (2): Cohen, D., A. Dey, and T. Lys, (2008), Real and Accrual-Based Earnings Management in the Pre- and Post Sarbanes Oxley Periods, The Accounting review 83 (3): Cohen, D., and P. Zarowin, (2010), Accrual-based and real earnings management around seasoned equity offerings, Journal of Accounting and Economics 50 (1): 2-9. Cohen, D., and P. Zarowin, (2009), Accrual-based and real earnings management activities around seasoned equity offerings, Journal of Accounting and Economics 50 (1): DeAngelo, L., (1981), Auditor size and audit quality, Journal of Accounting and Economics 3 (December): Dopuch, N., & Simunic, D. (1980), The Nature of Competition in the Auditing Profession: a Descriptive and Normative View. Regulation and the accounting profession 34 (2): Ebaid, Ibrahim El-Sayed, (2012), Earnings Management to Meet or Beat Earnings Thresholds, African Journal of Economic and Management Studies 3 (2),

4 Esceduro, W. S., (2009), Heteroscedasticity and Weighted Least Square, diakses dari pada tanggal 16 Agustus 2014 FASB, (1987), Statement of Financial Accounting Concepts (SFAC) No. 2. Ferdawati, (2009), Pengaruh Manajemen Laba Real Terhadap Nilai Perusahaan. Jurnal Akuntansi dan Manajemen, 4(1): Gujarati, Damodar, (2003), Ekonometrika Dasar : Edisi Keenam. Jakarta: Erlangga. Graham, J., Harvey, C. and Rajopal, S. (2005), The Economic Implications of Corporate Financial Reporting, Journal Accounting and Economics, 40 (1): Healy, P.M, (1985), The Effect of Bonus Schemes on Accounting Decisions, Journal of Accounting and Economics, Vol. 7 No 10, pp Healy, P.M. and J.M. Wahlen, (1999), A Review of The Earnings Management Literature and its implication for standard setters, Accounting Horizons Vol. 13 No. 4 (Dec 1999): Ikatan Akuntan Indonesia, (2007), Standar Akuntansi Keuangan, Edisi 2007, Penerbit : Salemba Empat, Jakarta. Johnson, V., A. Khurana, and K. Reynolds, (2002), Audit-Firm Tenure and the Quality of Financial Reports, Contemporary Accounting Research 19 (4): Jensen, M.C. and W.H. Meckling, (1976), Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure, Journal of Financial Economics, October, pp

5 Leuz, C., N. Dhanajay, and P.D. Wysocki, (2003), Earnings Management and Investor Protection: An International Comparison, Journal of Financial Economics 69: Matsunaga, S.R. and Park, C.W. (2001), The Effect of Missing a Quarterly Earnings Benchmark on the CEO s Annual Bonus, The Accounting Review, Vol. 78 No. 2, pp Radityo, N. B., (2013), Pengaruh Kualitas Laba Terhadap Manajemen Laba Dengan Manipulasi Aktivitas Riil, Skripsi, Fakultas Ekonomi Universitas Atma Jaya Yogyakarta, (tidak dipublikasikan) Riyatno, (2007), Pengaruh Ukuran Kantor Akuntan Publik Terhadap Earnings Response Coefficients, Jurnal Keuangan dan Bisnis, Vol.5, No.2, Hal: Roychowdury, S., (2006), Earnings Management Through Real Activities Manipulation, Journal of Accounting and Economics 42 (3): Scott, William R., (2003), Financial Accounting Theory, 3 rd edition, Prentice Hall, United States of America. Schipper, K., (1989), Earnings Management, Accounting Horizons, 3 (4), pp Watts, R.L. and J.L. Zimmerman, (1990), Positive Accounting Theory: A Ten Year Perspective, The Accounting Review, January, pp Watkins, A.L., W. Hillison., dan S.E. Morecroft, (2004), Audit Quality: A Synthesis of Theory and Empirical Evidence, Journal of Accounting Literature, No.23, p: Zang, A., (2007), Evidence on the Tradeoff Between Real Manipulation and Accrual Manipulation, Working Paper, Hongkong University of Science and Technology.

6 LAMPIRAN

7 LAMPIRAN I DAFTAR PERUSAHAAN SAMPEL No Tahun Perusahaan 1 BIMA Primarindo Asia Infrastructure Tbk 2 BUDI Budi Acid Jaya Tbk 3 FASW Fajar Surya Wisesa Tbk INAF Indofarma Tbk 5 JECC Jembo Cable Company Tbk 6 LMPI Langgeng Makmur Industry Tbk 7 SPMA Suparma Tbk 8 AMFG Asahimas Flat Glass Tbk 9 BRPT Barito Pasific Tbk 10 ESTI Ever Shine Textile Industry Tbk 11 KICI Kedaung Indah Can Tbk 12 LMPI Langgeng Makmur Industry Tbk PICO Pelangi Indah Canindo Tbk 14 RICY Ricky Putra Globalindo Tbk 15 SPMA Suparma Tbk 16 TRST Trias Sentosa Tbk 17 UNIT Nusantara Inti Corpora Tbk

8 18 ESTI Ever Shine Textile Industry Tbk 19 FASW Fajar Surya Wisesa Tbk 20 HDTX Pan Asia Indosyntec Tbk 21 JKSW Jakarta Kyoei Steel Work LTD Tbk 22 LMPI Langgeng Makmur Industry Tbk MASA Multistrada Arah Sarana Tbk 24 PRAS Prima Alloy Steel Universal Tbk 25 PYFA Pyridam Farma Tbk 26 SPMA Suparma Tbk 27 SULI Sumalindo Lestari Jaya Tbk TBMS Tembaga Mulia Semanan Tbk 29 BRNA Berlina Tbk 30 DVLA Darya Varia Laboratoria Tbk 31 HDTX Pan Asia Indosyntec Tbk JPRS Jaya Pari Steel Tbk 33 KAEF Kimia Farma Tbk 34 KBLM Kabelindo Murni Tbk

9 LAMPIRAN II DAFTAR VARIABEL PERUSAHAAN SAMPEL A. Daftar Variabel Dependen Perusahaan Sampel No Tahun Perusahaan Abn_CFO Abn_Prod Abn_Discexp REM_Index 1 BIMA BUDI FASW INAF JECC LMPI SPMA AMFG BRPT ESTI KICI LMPI PICO RICY SPMA TRST UNIT

10 18 ESTI FASW HDTX JKSW LMPI MASA PRAS PYFA SPMA SULI TBMS BRNA DVLA HDTX JPRS KAEF KBLM

11 B. Daftar Variabel Independen dan Variabel Kontrol Perusahaan Sampel No Tahun Perusahaan BigN ROA Size ΔE 1 BIMA BUDI FASW INAF JECC LMPI SPMA AMFG BRPT ESTI KICI LMPI PICO RICY SPMA TRST UNIT

12 18 ESTI FASW HDTX JKSW LMPI MASA PRAS PYFA SPMA SULI TBMS BRNA DVLA HDTX JPRS KAEF KBLM

13 LAMPIRAN III OUTPUT SPSS DAN EVIEWS 3.1. Hasil Statistik Deskriptif Descriptive Statistics abn_cfo abn_prod abn_discexp REM_Index BigN ROA SIZE delta_e Valid N (listwise) N Minimum Maximum Mean Std. Deviation Hasil Pengujian Normalitas Hasil Pengujian Normalitas Model Penelitian _ One-Sample Kolmogorov-Smirnov Test N Normal Parameters a,b Most Extreme Differences Kolmogorov-Smirnov Z Asymp. Sig. (2-tailed) Mean Std. Deviation Absolute Positive Negative a. Test distribution is Normal. b. Calculated from data. Unstandardiz ed Residual

14 Hasil Pengujian Normalitas Model Penelitian _ One-Sample Kolmogorov-Smirnov Test N Normal Parameters a,b Most Extreme Differences Kolmogorov-Smirnov Z Asymp. Sig. (2-tailed) Mean Std. Deviation Absolute Positive Negative a. Test distribution is Normal. b. Calculated from data. Unstandardiz ed Residual Hasil Pengujian Normalitas Model Penelitian _ One-Sample Kolmogorov-Smirnov Test N Normal Parameters a,b Most Extreme Differences Kolmogorov-Smirnov Z Asymp. Sig. (2-tailed) Mean Std. Deviation Absolute Positive Negative a. Test distribution is Normal. b. Calculated from data. Unstandardiz ed Residual

15 Hasil Pengujian Normalitas Model Penelitian _ One-Sample Kolmogorov-Smirnov Test N Normal Parameters a,b Most Extreme Differences Kolmogorov-Smirnov Z Asymp. Sig. (2-tailed) Mean Std. Deviation Absolute Positive Negative a. Test distribution is Normal. b. Calculated from data. Unstandardiz ed Residual Hasil Pengujian Asumsi Klasik Hasil Pengujian Autokorelasi Hasil Pengujian Autokorelasi pada Model Penelitian _ Breusch-Godfrey Serial Correlation LM Test: F-statistic Probability Obs*R-squared Probability Hasil Pengujian Autokorelasi pada Model Penelitian _ Breusch-Godfrey Serial Correlation LM Test: F-statistic Probability Obs*R-squared Probability

16 Hasil Pengujian Autokorelasi pada Model Penelitian _ Breusch-Godfrey Serial Correlation LM Test: F-statistic Probability Obs*R-squared Probability Hasil Pengujian Autokorelasi pada Model Penelitian _ Breusch-Godfrey Serial Correlation LM Test: F-statistic Probability Obs*R-squared Probability Uji Multikolinearitas Hasil Pengujian Multikolinearitas Model Penelitian _ Model 1 (Constant) BigN ROA Delta_Earnings a. Dependent Variable: Abn_CFO Unstandardized Coefficients Coefficients a Standardized Coefficients B Std. Error Beta Collinearity Statistics t Sig. Tolerance VIF

17 Hasil Pengujian Multikolinearitas Model Penelitian _ _ _ Model 1 (Constant) BigN ROA SIZE Unstandardized Coefficients a. Dependent Variable: Abn_Prod Coefficients a Standardized Coefficients B Std. Error Beta Collinearity Statistics t Sig. Tolerance VIF

18 Pengujian Heterokedastisitas Hasil Pengujian Heterokedastisitas pada Model Penelitian _ White Heteroskedasticity Test: F-statistic Probability Obs*R-squared Probability Test Equation: Dependent Variable: RESID^2 Method: Least Squares Date: 08/12/14 Time: 14:26 Sample: 1 34 Included observations: 34 Variable Coefficient Std. Error t-statistic Prob. C BIGN BIGN*ROA BIGN*DELTA_E ROA ROA^ ROA*DELTA_E DELTA_E DELTA_E^ R-squared Mean dependent var Adjusted R-squared S.D. dependent var S.E. of regression Akaike info criterion Sum squared resid Schwarz criterion Log likelihood F-statistic Durbin-Watson stat Prob(F-statistic)

19 Hasil Pengujian Heterokedastisitas pada Model Penelitian _ White Heteroskedasticity Test: F-statistic Probability Obs*R-squared Probability Test Equation: Dependent Variable: RESID^2 Method: Least Squares Date: 08/12/14 Time: 14:41 Sample: 1 34 Included observations: 34 Variable Coefficient Std. Error t-statistic Prob. C BIGN BIGN*ROA BIGN*SIZE ROA ROA^ ROA*SIZE SIZE SIZE^ R-squared Mean dependent var Adjusted R-squared S.D. dependent var S.E. of regression Akaike info criterion Sum squared resid Schwarz criterion Log likelihood F-statistic Durbin-Watson stat Prob(F-statistic)

20 Hasil Pengujian Heterokedastisitas pada Model Penelitian _ White Heteroskedasticity Test: F-statistic Probability Obs*R-squared Probability Test Equation: Dependent Variable: RESID^2 Method: Least Squares Date: 08/12/14 Time: 14:44 Sample: 1 34 Included observations: 34 White Heteroskedasticity-Consistent Standard Errors & Covariance Variable Coefficient Std. Error t-statistic Prob. C BIGN BIGN*ROA BIGN*SIZE ROA ROA^ ROA*SIZE SIZE SIZE^ R-squared Mean dependent var Adjusted R-squared S.D. dependent var S.E. of regression Akaike info criterion Sum squared resid Schwarz criterion Log likelihood F-statistic Durbin-Watson stat Prob(F-statistic)

21 Hasil Pengujian Heterokedastisitas pada Model Penelitian _ White Heteroskedasticity Test: F-statistic Probability Obs*R-squared Probability Test Equation: Dependent Variable: RESID^2 Method: Least Squares Date: 08/12/14 Time: 14:51 Sample: 1 34 Included observations: 34 Variable Coefficient Std. Error t-statistic Prob. C BIGN BIGN*ROA BIGN*SIZE ROA ROA^ ROA*SIZE SIZE SIZE^ R-squared Mean dependent var Adjusted R-squared S.D. dependent var S.E. of regression Akaike info criterion Sum squared resid Schwarz criterion Log likelihood F-statistic Durbin-Watson stat Prob(F-statistic)

22 3.4. Hasil Regresi Berganda Hasil Regresi Model Penelitian _ Dependent Variable: ABN_CFO Method: Least Squares Date: 08/11/14 Time: 07:33 Sample: 1 34 Included observations: 34 Variable Coefficient Std. Error t-statistic Prob. C BIGN ROA DELTA_E R-squared Mean dependent var Adjusted R-squared S.D. dependent var S.E. of regression Akaike info criterion Sum squared resid Schwarz criterion Log likelihood F-statistic Durbin-Watson stat Prob(F-statistic)

23 Hasil Regresi Model Penelitian _ Hasil Regresi Sebelum Penyesuaian Model Penelitian _ Dependent Variable: ABN_PROD Method: Least Squares Date: 08/12/14 Time: 08:57 Sample: 1 34 Included observations: 34 Variable Coefficient Std. Error t-statistic Prob. C BIGN ROA SIZE R-squared Mean dependent var Adjusted R-squared S.D. dependent var S.E. of regression Akaike info criterion Sum squared resid Schwarz criterion Log likelihood F-statistic Durbin-Watson stat Prob(F-statistic)

24 Hasil Regresi Setelah Penyesuaian Model Penelitian _ Dependent Variable: ABN_PROD Method: Least Squares Date: 08/12/14 Time: 16:09 Sample: 1 34 Included observations: 34 White Heteroskedasticity-Consistent Standard Errors & Covariance Variable Coefficient Std. Error t-statistic Prob. C BIGN ROA SIZE R-squared Mean dependent var Adjusted R-squared S.D. dependent var S.E. of regression Akaike info criterion Sum squared resid Schwarz criterion Log likelihood F-statistic Durbin-Watson stat Prob(F-statistic)

25 Hasil Regresi Model Penelitian _ Hasil Regresi Sebelum Penyesuaian Model Penelitian _ Dependent Variable: ABN_DISCEXP Method: Least Squares Date: 08/13/14 Time: 11:50 Sample: 1 34 Included observations: 34 Variable Coefficient Std. Error t-statistic Prob. C BIGN ROA SIZE R-squared Mean dependent var Adjusted R-squared S.D. dependent var S.E. of regression Akaike info criterion Sum squared resid Schwarz criterion Log likelihood F-statistic Durbin-Watson stat Prob(F-statistic)

26 Hasil Regresi Setelah Penyesuaian Model Penelitian _ Dependent Variable: ABN_DISCEXP Method: Least Squares Date: 08/12/14 Time: 14:14 Sample: 1 34 Included observations: 34 White Heteroskedasticity-Consistent Standard Errors & Covariance Variable Coefficient Std. Error t-statistic Prob. C BIGN ROA SIZE R-squared Mean dependent var Adjusted R-squared S.D. dependent var S.E. of regression Akaike info criterion Sum squared resid Schwarz criterion Log likelihood F-statistic Durbin-Watson stat Prob(F-statistic)

27 Hasil Regresi Model Penelitian _ Dependent Variable: REM_INDEX Method: Least Squares Date: 08/12/14 Time: 09:19 Sample: 1 34 Included observations: 34 Variable Coefficient Std. Error t-statistic Prob. C BIGN ROA SIZE R-squared Mean dependent var -8.82E-11 Adjusted R-squared S.D. dependent var S.E. of regression Akaike info criterion Sum squared resid Schwarz criterion Log likelihood F-statistic Durbin-Watson stat Prob(F-statistic)

28 3.5. Tabel Hasil Regresi Variabel Independen BigN dan Variabel Kontrol Terhadap Variabel Dependen Abn_CFO Koefisien Prob C BigN ROA SIZE E LMVE Lev (F-statistic) Model 1-0,029 0, ,901 Model 2-0,055-0,021 1, ,135 Model 3 0,150-0,012 1,285-0, ,254 Model 4 0,386-0,004 1,294 0,016-0, ,141 Model 5 0,440-0,005 1,216-0,030 0,963 0,012-0,209 Model 6 0,404-0,006 1,218-0,029 0,940 0,012 0,007 0,315 Model 7 0,170 0, , ,941 Model 8 0,403 0, ,016 0, ,451 Model 9 0,492 0, ,039 0,931 0,020-0,467 Model 10 0,462 0, ,038 0,912 0,020 0,006 0,619 Model 11-0,056-0,023 1,291-0, ,093 Model 12-0,010-0,021 1,303-0,908-0,002-0,176 Model13-0,053-0,020 1,302-0,867-0,000 0,013 0,276 Model 14 0,227-0,013 1,186-0,025-0,015-0,337 Model 15 0,134-0,01 1,194-0,022-0,016 0,021 0,447 Model 16 0,358-0,004 1,297-0,015 0,979-0,005 0,236 Model 17-0,030 0, , ,337 Model 18-0,098 0, ,855 0,003-0,538 Model 19-0,142 0, ,812 0,004 0,014 0,692 Model 20-0,0141-0,026 1, ,003-0,262 Model 21-0,210-0,025 1, ,005 0,025 0,363 Model 22 0,061-0,013 1,296-0, ,019 0,375 Model 23-0,218-0, ,007-0,873 Model 24 0,287-0, ,009 0,025 0,891 Model 25-0,070-0,018 1, ,022 0,235 Model 26-0,41 0, ,019 0,892