CHAPTER V CONCLUSION, SUGGESTION AND LIMITATION. 1. Independent commissioner boards proportion does not negatively affect

Transcription

1 CHAPTER V CONCLUSION, SUGGESTION AND LIMITATION 5.. Conclusion Based on data analysis that has been done, researcher may draw following conclusions:. Independent commissioner boards proportion does not negatively affect earnings management. 2. Commissioner boards size does not negatively affect earnings management. 3. Audit committee does negatively affect earnings management. 4. Concentrated ownership does negatively affect earnings management. 5. Culture does affect earnings management Research Limitations and Suggestions This study has several limitations, they are:. Sample for this study only consist of 47 manufacturing companies. Upcoming research can use a bodder range of industry to increase the number of samples. 2. This study only analyze the effect of proportion independent commissioner board,board size, audit committee, concentrated ownership and culture on earnings management. There are many other variables that play a role in 56

2 57 affecting earnings management. Therefore, further research is expected to add other variables deemed to affect earnings management, such as institutional ownership, managerial ownership and size of company. 3. Concentrated ownership is calculated based on the largest percentage of ownership by individual or group. The researcher did not identify relationship among owners eventhough such relationship may exist. Subsequent research should identify whether or not relationships exist among owners. This will affect the calculation of concentrated ownership.

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7 LAMPIRAN I

8 Descriptives Descriptive Statistics Earnings management Independent commissioner board proportion Commissioner board size Audit committee Concentrated ownership Culture Valid N (listwise) N Minimum Maximum Mean Std. Deviation

9 LAMPIRAN II

10 Normality Test One-Sample Kolmogorov-Smirnov Test N Normal Parameters a,b Most Extreme Differences Kolmogorov-Smirnov Z Asymp. Sig. (2-tailed) a. Test distribution is Normal. b. Calculated from data. Mean Std. Deviation Absolute Positive Negative Unstandardize d Residual

11 LAMPIRAN III

12 Multicolinearity Test Variables Entered/Removed b Variables Entered Culture, Audit committee, Independent commissioner board proportion, Concentrated ownership, Commissioner board size a a. All requested variables entered. b. Dependent Variable: Earnings management Variables Removed. Enter Method Coefficients a Independent commissioner board proportion Commissioner board size Audit committee Concentrated ownership Culture a. Dependent Variable: Earnings management Collinearity Statistics Tolerance VIF

13 LAMPIRAN IV

14 Heteroscedasticity Test Variables Entered/Removed b Variables Entered Culture, Independent commissioner board proportion, Commissioner board size, Audit committee, Concentrated ownership a a. All requested variables entered. b. Dependent Variable: ABSY Variables Removed. Enter Method a. Summary Adjusted R Std. Error of R R Square Square the Estimate.285 a Predictors: (Constant), Culture, Independent commissioner board proportion, Commissioner board size, Audit committee, Concentrated ownership Regression Residual Total ANOVA b Sum of Squares df Mean Square F Sig a a. Predictors: (Constant), Culture, Independent commissioner board proportion, Commissioner board size, Audit committee, Concentrated ownership b. Dependent Variable: ABSY Coefficients a (Constant) Independent commissioner board proportion Commissioner board size Audit committee Concentrated ownership Culture a. Dependent Variable: ABSY Unstandardized Standardized Coefficients Coefficients B Std. Error Beta t Sig

15 LAMPIRAN V

16 Autocorrelation Test Variables Entered/Removed b Variables Entered Culture, Independent commissioner board proportion, Commissioner board size, Audit committee, Concentrated ownership a a. All requested variables entered. b. Dependent Variable: Earnings management Variables Removed. Enter Method Summary b Adjusted R Std. Error of R R Square Square the Estimate Durbin-Watson.603 a a. Predictors: (Constant), Culture, Independent commissioner board proportion, Commissioner board size, Audit committee, Concentrated ownership b. Dependent Variable: Earnings management Regression Residual Total ANOVA b Sum of Squares df Mean Square F Sig a a. Predictors: (Constant), Culture, Independent commissioner board proportion, Commissioner board size, Audit committee, Concentrated ownership b. Dependent Variable: Earnings management (Constant) Independent commissioner board proportion Commissioner board size Audit committee Concentrated ownership Culture Coefficients a a. Dependent Variable: Earnings management Unstandardized Standardized Coefficients Coefficients B Std. Error Beta t Sig

17 LAMPIRAN VI

18 Regression Variables Entered/Removed b Variables Entered Culture, Independent commissioner board proportion, Commissioner board size, Audit committee, Concentrated ownership a a. All requested variables entered. b. Dependent Variable: Earnings management Variables Removed. Enter Method a. Summary Adjusted R Std. Error of R R Square Square the Estimate.603 a Predictors: (Constant), Culture, Independent commissioner board proportion, Commissioner board size, Audit committee, Concentrated ownership Regression Residual Total ANOVA b Sum of Squares df Mean Square F Sig a a. Predictors: (Constant), Culture, Independent commissioner board proportion, Commissioner board size, Audit committee, Concentrated ownership b. Dependent Variable: Earnings management (Constant) Independent commissioner board proportion Commissioner board size Audit committee Concentrated ownership Culture Coefficients a a. Dependent Variable: Earnings management Unstandardized Standardized Coefficients Coefficients B Std. Error Beta t Sig

19 LAMPIRAN VII

20 2006 No Nama Perusahaan Kode Independent commissioner Board Size Komite Audit Concentrated ownership Culture Earnings Management PT Astra Graphia Tbk ASGR PT Astra International Tbk ASII PT Astra Otoparts Tbk AUTO PT Budi Acid Jaya Tbk BUDI PT Fast Food Indonesia Tbk FAST PT Unilever Indonesia Tbk UNVR PT United Tractors Tbk UNTR

21 2007 No Nama Perusahaan Kode Independent commissioner Board Size Komite Audit Concentrated ownership Culture Earnings Management PT Astra Graphia Tbk ASGR PT Astra International Tbk ASII PT Astra Otoparts Tbk AUTO PT Budi Acid Jaya Tbk BUDI PT Fast Food Indonesia Tbk FAST PT Indocement Tunggal Prakasa Tbk INTP PT Unilever Indonesia Tbk UNVR PT United Tractors Tbk UNTR

22 2008 No Nama Perusahaan Kode Independent commissioner Board Size Komite Audit Concentrated ownership Culture Earnings Management PT Astra International Tbk ASII PT Astra Otoparts Tbk AUTO PT Budi Acid Jaya Tbk BUDI PT Fast Food Indonesia Tbk FAST PT Indocement Tunggal Prakasa Tbk INTP PT Merck Tbk MERK PT Unilever Indonesia Tbk UNVR PT United Tractors Tbk UNTR

23 2009 No Nama Perusahaan Kode Independent commissioner Board Size Komite Audit Concentrated ownership Culture Earnings Management PT AKR Corporindo Tbk AKRA PT Astra International Tbk ASII PT Astra Otoparts Tbk AUTO PT Budi Acid Jaya Tbk BUDI PT Fast Food Indonesia Tbk FAST PT Indocement Tunggal Prakasa Tbk INTP PT Merck Tbk MERK PT Perdana Bangun Pusaka Tbk KONI PT Tunas Ridean Tbk TURI PT Unilever Indonesia Tbk UNVR PT United Tractors Tbk UNTR

24 200 No Nama Perusahaan Kode Independent commissioner Board Size Komite Audit Concentrated ownership Culture Earnings Management PT AKR Corporindo Tbk AKRA PT Astra Graphia Tbk ASGR PT Astra International Tbk ASII PT Astra Otoparts Tbk AUTO PT Budi Acid Jaya Tbk BUDI PT Fast Food Indonesia Tbk FAST PT Indocement Tunggal Prakasa Tbk INTP PT Kalbe Farma Tbk KLBF PT Merck Tbk MERK PT Perdana Bangun Pusaka Tbk KONI PT Tunas Ridean Tbk TURI PT Unilever Indonesia Tbk UNVR PT United Tractors Tbk UNTR