Financial Distress dan Strategi Income-Increasing/Decreasing = Financial Distress and Income-Increasing/Decreasing Strategy

Jonathan, Arxel (2021) Financial Distress dan Strategi Income-Increasing/Decreasing = Financial Distress and Income-Increasing/Decreasing Strategy. Bachelor thesis, Universitas Pelita Harapan.

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Abstract

Tahap awal financial distress ditandai dengan masalah profitabilitas yang dialami perusahaan, dimana perusahaan memiliki kewajiban yang akan jatuh tempo, tetapi masih bisa dibayar dengan alat-alat likuid. Masalah profitabilitas yang terus berlanjut akan mengarahkan perusahaan ke tingkat financial distress yang lebih parah, dimana pada tahap ini perusahaan sudah tidak memiliki alat likuid untuk membayar kewajiban yang jatuh tempo. Sejalan dengan teori agensi, kondisi financial distress akan membuat perusahaan melakukan manajemen laba dalam memenuhi target yang diharapkan oleh principal. Penelitian ini dilakukan untuk mengetahui preferensi strategi manajemen laba berdasarkan kondisi financial distress yang dialami suatu perusahaan. Sejalan dengan teori kontingensi, preferensi strategi manajemen laba akan disesuaikan berdasarkan kondisi yang dialami suatu perusahaan. Penelitian ini menggunakan three-stage dynamic model of financial distress yang dikembangkan oleh Umar Farooq pada tahun 2018 yang dinilai mampu mengukur intensitas financial distress lebih baik dibanding model sebelumnya. Penelitian ini dilakukan terhadap seluruh perusahaan di Bursa Efek Indonesia pada periode 2008-2020 yang mengalami financial distress. Hasil penelitian menunjukkan bahwa pada tahap awal financial distress perusahaan melakukan income-decreasing melalui manajemen laba akrual. Akhirnya pada tingkat akhir financial distress, perusahaan melakukan income-decreasing melalui penurunan jumlah produksi dan manajemen laba akrual. / The initial stage of financial distress is characterized by profitability problems, where the company has obligation that will mature, but can still be paid with liquid assets. The persistence of profitability problems will lead the company into more severe financial distress, so much so that the company will no longer have any liquid assets to pay off maturing obligations. In congruence with agency theory, financial distress forces companies to manage their profits in accordance with target expected by the principal. This study intends to analyze the earnings management strategy preferences based on the financial distress experienced by a company. In line with the theory of contingency, earnings management strategy preferences will be chosen according to the conditions experienced by the company. This research uses the three-stage dynamic model of financial distress developed by Umar Farooq in 2018, which is argued able to measure the intensity of financial distress better than the previous model. This research is conducted on all companies on the Indonesia Stock Exchange in the period 2008-2020 that experienced financial distress. The results show that during the early stages of financial distress the company did income-decreasing through accrual earnings management. Whereas later in the final stages of financial distress, the company did income-decreasing through reduced production and accrual earnings management.

Item Type: Thesis (Bachelor)
Creators:
CreatorsNIMEmail
Jonathan, Arxel01012180078Arxeljonathan06@gmail.com
Contributors:
ContributionContributorsNIDN/NIDKEmail
Thesis advisorKaryawati, GolridaNIDN0303067103golrida.karyawati@uph.edu
Uncontrolled Keywords: financial distress; income-increasing; income-decreasing; manajemen laba akrual; manajemen laba riil; accrual earnings management; real earnings management
Subjects: H Social Sciences > HF Commerce > HF5601 Accounting
Divisions: University Subject > Current > Faculty/School - UPH Karawaci > Business School > Accounting
Current > Faculty/School - UPH Karawaci > Business School > Accounting
Depositing User: Users 4418 not found.
Date Deposited: 13 Jan 2022 05:42
Last Modified: 08 Mar 2022 01:41
URI: http://repository.uph.edu/id/eprint/44347

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