ANALISIS PENGARUH MEKANISME CORPORATE GOVERNANCE TERHADAP EARNINGS MANAGEMENT PADA PERUSAHAAN YANG MELAKUKAN SEASONED EQUITY OFFERING (SEO) (Periode 2001 – 2005)

SRI DWI ARI, AMBARWATI and KHOIRUL, HIKMAH (2009) ANALISIS PENGARUH MEKANISME CORPORATE GOVERNANCE TERHADAP EARNINGS MANAGEMENT PADA PERUSAHAAN YANG MELAKUKAN SEASONED EQUITY OFFERING (SEO) (Periode 2001 – 2005). BULETIN EKONOMI JURNAL MANAJEMEN, AKUNTANSI DAN EKONOMI PEMBANGUNAN, 7 (2). pp. 169-181. ISSN 1410-2293

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Abstract

The purposes of the study are to examine empirically the relationship mechanism of corporate governance consists of managerial ownership, institutional ownership, board director, leverage and issue with earnings management in Seasoned Equity Offering (SEO) company. Using sampling of 83 manufacture companies during the periode of 2001 until 2005. The compilation of data is done in Jakarta Stock Exchange corner UII, and Indonesian Capital Market Directory (ICMD). The analysis is done with multiple linear regression methode, regretted classical assumption examined, f- test and t –test, using SPSS version 12.0.The result show the first hypotesis, that is, managerial ownership has negatif relationship to earnings management at period before SEO is not significant. It’ means the lower of percentage managerial ownership can,t create the lower earnings management. But, the second hypothesis, that is, institutional ownership has positif relationship to earnings management is significant. It’s means the greater institutional ownership the greater of earnings management. The third hypothesis, board director has positif relationship to earnings management is not significant. While, the fourt hypothesis, that is, leverage has positif relationship to earnings management is significant. It’s means, leverage can be control variable to examine relationship earnings management with corporate governance mechanism. The fifth hypothesis that is, frequency SEO as control variable fails to be proved. Implication this research is institutional ownership has positif relationship with earnings management and this relationship controlled by leverage. Keyword: SEO, managerial ownership, institutional ownership. Earnings management, Issue

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