TY - JOUR
T1 - MANAJEMEN LABA PADA PERUSAHAAN DENGAN PERMASALAHAN FREE CASH FLOW DAN PERAN MODERASI DARI MONITORING EKSTERNAL
AU - Tresnaningsih, Elok
PY - 2008/6
Y1 - 2008/6
N2 - This study examines whether low-growth companies with free cash flow (HFLG) will use income-increasing discretionary accruals to offset the low or negative earnings that inevitably accompany investment with negative net presents values (NPVs). Using 413 manufacturing company year observations over the period 2001-2005, the results show that there is a significantly association between HFLG and increasing discretionary accruals. This study also examines the role o f monitoring by auditors, creditors, and independent commissioners in mitigating the relation o f HFLG and income-increasing discretionary accruals. The results show that (1) monitoring by high-quality auditors and high-proportion o f independent commisioners are effective in mitigating the association o f HFLG and income- increasing discretionary accruals, which suggest that both their monitoring are more pronounced fo r HFLG firm s and (2) monitoring by high-debt creditors are effective in reducing income-increasing discretionary accruals, but their monitoring are not found to be more pronounced in HFLG firm. This result suggests that the vigilance o f creditors are more likely to increase when debt increase.
AB - This study examines whether low-growth companies with free cash flow (HFLG) will use income-increasing discretionary accruals to offset the low or negative earnings that inevitably accompany investment with negative net presents values (NPVs). Using 413 manufacturing company year observations over the period 2001-2005, the results show that there is a significantly association between HFLG and increasing discretionary accruals. This study also examines the role o f monitoring by auditors, creditors, and independent commissioners in mitigating the relation o f HFLG and income-increasing discretionary accruals. The results show that (1) monitoring by high-quality auditors and high-proportion o f independent commisioners are effective in mitigating the association o f HFLG and income- increasing discretionary accruals, which suggest that both their monitoring are more pronounced fo r HFLG firm s and (2) monitoring by high-debt creditors are effective in reducing income-increasing discretionary accruals, but their monitoring are not found to be more pronounced in HFLG firm. This result suggests that the vigilance o f creditors are more likely to increase when debt increase.
UR - http://jaki.ui.ac.id/index.php/home/article/view/247
U2 - 10.21002/jaki.2008.02
DO - 10.21002/jaki.2008.02
M3 - Article
SN - 2406-9701
VL - 5
SP - 30
EP - 49
JO - Jurnal Akuntansi dan Keuangan Indonesia
JF - Jurnal Akuntansi dan Keuangan Indonesia
IS - 1
ER -