No abstract

Basic usage of principles-based, fair value and full disclosure at IFRS is expected to have a positive impact, resulting in improving quality of accounting information to be capable of reflecting the current economic condition of the company. Thus, it can increase the value relevance, which will decrease the information asymmetry between management and users of financial statements. This study examines how the intensity of management in earnings management, how the earnings quality before and after the implementation of IFRS and whether earnings management affects the earnings quality. The results revealed that the intensity of management in earnings management is higher when it is compared to the one after the implementation of IFRS, by looking at the amount of discreationary accrual. Therefore, it can be concluded that the implementation of IFRS can reduce the intensity of corporate management activity in earnings management. The results of subsequent research states that earnings management after the implementation of IFRS effect on the earnings quality was proxied with earnings persistence. The next finding is that the quality of corporate earnings after IFRS implementation is higher when compared to earnings quality prior to IFRS implementation.

The purpose of this research is to test whether management compensation and auditor reputation motivate management perform earnings management, its effect on companies stock return. This research use companies size, sales growth and financial leverage as control variables. The research hypotheses were tested using ordinary least square regression. The sample of this research are companies listed in the Indonesia Stock Exchange from year 2011 to 2015. The amount of samples that fulfill the criterion are 134 companies. This research take 54 companies as other samples for process of comparing with criterion that the companies were equal size firm and same industries. The theory that based this research is agency theory and signaling theory. The independent variable of earnings management is proxied by accrual discretionary and calculated by Modified Jones Model. This research reveal indeed the management compensation and auditor reputation motivate companies management performed earnings management, and influence negatively toward earnings management. Furthermore, earnings management influence negatively toward companies stocks return.

After going through initial public offering process, the company must trade its shares in the secondary market. Companies should conduct signaling to users, such as investors and potential investors by providing information that can be utilized as a basis for investment decision making. The information announced (which includes earnings information) is expected to have a quality that allows investors and potential investors to predict company performance in the future. This study was conducting to investigate investors behaviour by observing trading volume, stock returns and earnings response coeffesient (ERC) in the short and long term. This study uses data and samples from the Indonesia Stock Exchange from 2006 to 2015. Hypothesis testing is done by using multiple linear regression and independent sample t test. The result showed that earnings information give effect to trading volume, stock returns, and ERC in short term (one year after IPO) and long term (for 5 years or more after IPO). The next result in the short term the stock trading volume, stock returns, and ERC is greater when compared with the volume of stock trading, stock returns, and ERC in the long term. Keywords: Earnings Information, Trading Volume, Stock Returns and Earnings Response CoeffesientAbstrak: Setelah melalui proses penawaran umum perdana, perusahaan harus memperdagangkan sahamnya di pasar sekunder. Perusahaan harus melakukan signaling kepada pengguna, seperti investor dan calon investor dengan memberikan informasi yang dapat dimanfaatkan sebagai dasar untuk pengambilan keputusan investasi. Informasi yang diumumkan (termasuk informasi laba) diharapkan memiliki kualitas yang memungkinkan investor dan calon investor untuk memprediksi kinerja perusahaan di masa depan. Penelitian ini dilakukan untuk menyelidiki perilaku investor dengan mengamati volume perdagangan, pengembalian saham dan respon pendapatan koefisien (ERC) dalam jangka pendek dan panjang. Penelitian ini menggunakan data dan sampel dari Bursa Efek Indonesia dari tahun 2006 hingga 2015. Pengujian hipotesis dilakukan dengan menggunakan regresi linier berganda dan uji t sampel independen. Hasil penelitian menunjukkan bahwa informasi laba memberikan pengaruh terhadap volume perdagangan, return saham, dan ERC dalam jangka pendek (satu tahun setelah IPO) dan jangka panjang (selama 5 tahun atau lebih setelah IPO). Hasil selanjutnya dalam jangka pendek volume perdagangan saham, return saham, dan ERC lebih besar bila dibandingkan dengan volume perdagangan saham, return saham, dan ERC dalam jangka panjang.

Purpose: This study aims to analyze the relation of GCG implementation and diversification strategy in the family company and its effect on the corporate value that is proxied with returns of corporate share (cumulative abnormal return - CAR). Methodology: This study used control variables which were size, age, and growth of the company. The hypothesis test was done by using multiple regression and an average T-test. The samples of this study were companies listed in Indonesian Stock Exchange that have fulfilled the characteristics of concentrated share ownership by one family. This formulated two-equation models i.e. Dependent variable for equation model I was diversification strategy and for equation model II was corporate value. Results: The result of this study shows that management compensation, independent commissioners, and managerial ownership positively affect, while the number of the audit committee and leverage ratio do not affect diversification strategy. The next testing result was a diversification strategy applied by the family company that positively affects corporate value. Implications: In order to conduct a controlling function, a company must plan the existence of good corporate governance (GCG) that organizes the relation and responsibility between many parties involved in the company, that a number of regulations, policies, and procedures. The implementation of GCG is expected able to guarantee the action of management in line with the interest of shareholders.