Pengaruh tingkat financial distress terhadap preferensi strategi manajemen laba = Effect of financial distress levels on the preference of earnings management strategies

Anastasia, Sherika (2020) Pengaruh tingkat financial distress terhadap preferensi strategi manajemen laba = Effect of financial distress levels on the preference of earnings management strategies. Bachelor thesis, Universitas Pelita Harapan.

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Abstract

Pada tahap awal financial distress, perusahaan mengalami masalah profitabilitas tetapi masih memiliki alat-alat likuid untuk membayar kewajiban yang jatuh tempo. Namun, pada kondisi financial distress yang lebih ekstrim, nilai seluruh aktiva perusahaan tidak dapat memenuhi kewajiban yang dimiliki. Hal ini memicu perhatian dan pengetatan pengawasan para kreditur dan auditor. Sejalan dengan teori kontingensi, intensitas financial distress dapat menimbulkan preferensi strategi manajemen laba. Penelitian ini menganalisis hubungan tingkat financial distress dengan preferensi strategi manajemen laba. Penelitian terdahulu cenderung menggunakan Altman Z-Score untuk memprediksi financial distress. Peneliti menggunakan Three Stage Dynamic Financial Distress Model yang diajukan oleh Umar Farooq di Pakistan pada tahun 2018, yang diargumentasikan mampu menyelesaikan kekurangan Z-Score dan menangkap intensitas financial distress yang berbeda-beda. Penelitian ini dilakukan terhadap 860 observasi yang diperoleh melalui klasifikasi terhadap 170 emiten, dari tahun 2008 sampai 2018. Data observasi berbentuk panel dan dianalisis menggunakan pendekatan common effect. Hasil penelitian menyatakan bahwa pada tingkat financial distress yang lebih tinggi, strategi yang cenderung lebih dipilih adalah manajemen laba riil. Pada tingkat ini, perusahaan memilih strategi manajemen laba berdasarkan probability of being detected. Sedangkan, pada tingkat financial distress yang lebih rendah, strategi yang cenderung lebih dipilih adalah manajemen laba akrual. Pada tahap ini, perusahaan menekankan efisiensi biaya. / In the early stage of financial distress, companies experience profitability problems but still have liquid tools to meet obligations that are due. However, in extreme financial distress problem, the value of company’s asset is not enough to meet all obligations owned. This triggered the attention, and tightened the supervision, of creditors and auditors. In line with the contingency theory, the intensity of financial distress can lead to a preference for earnings management strategies. This study intends to analyze the relationship between the level of financial distress and the preference for earnings management strategies. Previous research tends to use Altman Z-Score to predict financial distress. This research uses Three Stage Dynamic Financial Distress Model proposed by Umar Farooq in Pakistan on 2018, which is argued able to solve Z-Score’s deficiencies and capture the different intensity of financial distress. This research is conducted on 860 observations obtained through classifying 170 public companies, during 2008 to 2018. Observation data is in the form of panels and is analyzed using the common effect approach. The result shows that at a higher level of financial distress, the strategy that management tends to prefer is real earnings management. The decision made between accrual or real is based on the probability of being detected. Meanwhile, at a lower level of financial distress, the preferred strategy is accrual earnings management. This is due to emphasis on cost-efficiency.

Item Type: Thesis (Bachelor)
Creators:
CreatorsNIMEmail
Anastasia, SherikaNIM01012170009sherikaanastasia@gmail.com
Contributors:
ContributionContributorsNIDN/NIDKEmail
Thesis advisorKaryawati, GolridaNIDN0303067103UNSPECIFIED
Uncontrolled Keywords: financial distress; manajemen laba akrual; manajemen laba riil
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 3561 not found.
Date Deposited: 22 Feb 2021 07:37
Last Modified: 22 Feb 2021 07:37
URI: http://repository.uph.edu/id/eprint/21820

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