Indonesia Conference Directory

Corresponding Author
Sri Handayani

Institutions
a) Accounting Department, Faculty of Economic and Business
Universitas Esa Unggul
Jakarta, Indonesia
b) Accounting Department, Faculty of Economic and Business
Universitas Esa Unggul
Jakarta, Indonesia

Abstract
Intellectual capital is an intangible asset that is beneficial for increasing the companys competitive ability and performance. Intellectual capital is elusive, but if it is discovered and explored it will give to the organization a new resource base to compete and win the competition. This study will analyze the intellectual capital factor, which consists of value added capital coefficient, human capital, and structural capital in achieving competitive advantage. The design of this research is causal explanatory. Population in this study are mining companies on the Indonesia Stock Exchange in 2016 to 2018. The sampling technique used is saturated sampling with a total of 223 data. The analysis technique used is multiple linear regression. The results showed that value added capital coefficient, human capital, and structural capital simultaneously affect to competitive advantage. While partially value added capital coefficient and structural capital have a positive effect on competitive advantage. However, human capital does not affect competitive advantage. The results of this study support the recource based theory where intellectual capital is able to meet the criteria as a unique resource to create competitive advantage for the company because it provides value added to the company.

Keywords
Intellectual Capital, Value Added Capital Coefficient, Human Capital, Structural Capital, Competitive Advantage

Topic
Financial Accounting

Link: https://ifory.id/abstract/azAP8R9hHJmv

Corresponding Author
Flourien Nurul Chusnah

Institutions
Sekolah Tinggi Ilmu Ekonomi Indonesia

Abstract
The purpose of this research is to know the influence of Net Working Capital, Board Size and Sales Growth on Cash Holding (Empirical Study on Plantation Sub Sector Companies in BEI Period 2014-2016). In this study using descriptive study through hypothesis testing by using a causal design. The type of research used is explanatory research. The research method used in this research is quantitative research method. Hypothesis testing model in this research is doubled linear regression technique. Multiple linear regression analysis was performed with the help of Eviews program version 8.0. The results of the study concluded (1) Net Working Capital has a positive effect on cash holding, which means the magnitude of Net Working Capital affects the size of the cash holding of sub-plantation companies in the BEI period 2014-2016, (2) Board Size has no positive effect on cash holding, which means that Board Size has little effect on the size of the cash holding of sub-plantation companies in BEI period 2014-2016, (3) Sales Growth has a positive effect on cash holding, which means that the size of Sales Growth influences the size of the cash holding of sub-plantation sector BEI period 2014-2016.

Keywords
Net Working Capital, Board Size, Sales Growth, Cash Holding

Topic
Financial Accounting

Link: https://ifory.id/abstract/wqZfF6QGxVHE

Corresponding Author
Azuura Salsabila

Institutions
Sekolah Tinggi Manajemen IPMI

Abstract
The increase in total of Indonesia-s start-up business is an impact from the globalization in technology. Therefore, many companies are trying to expand their geographic reach and growth to survive in the competition. It is found that there are many cases that the growth happens through M&A to realize the synergy. However, not all merger and acquisition are success. Financial performance, market performance, stock return, and stock risk can be the measurement whether M&A gives any impacts or not. With those measurements as the variables, paired sample T-Test, wilcoxon-s signed rank test, and F-Test for two variances will be used as the hypothesis testing and will be assess for 3 years, 1 year, 5 days before and after the event. This research finds that M&A only gives difference in the companies- ROE, ROA, total asset turnover both in 3 and 1 year before and after and P/BV in 1 year before and after the event. From those findings, this research recommends the companies to consider the strategy in managing larger base of capital and fix asset before conducting M&A and also consider about DER and DAR that keep on increasing with the decreasing in total asset turnover. And for the investors, P/E and P/BV can be the indicator for the companies- future growth and consideration in investing and for those investors who are risk averse, it is better to invest after the M&A happened since this research finds that the stock risk is tend to be riskier before the M&A.

Keywords
Merger, Acquisition, Financial Performance, Market Performance, Stock Return, Stock Risk

Topic
Financial Accounting

Link: https://ifory.id/abstract/VBkKZd2Rpbth

Corresponding Author
NELLI NOVYARNI

Institutions
SEKOLAH TINGGI ILMU EKONOMI INDONESIA JAKARTA

Abstract
This study aims to compare between financial ratios and methods of economic value added (EVA) as a measure of a companys performance. The data used in this study are quantitative data with data collection techniques through documentation and this research is comparative in nature. The object of this research is PT. Garuda Indonesia, Tbk, which was listed on the Indonesia Stock Exchange for the period 2013-2017. The results of the study explained that the results of the financial performance of PT. Garuda Indonesia Tbk during the 2013-2017 period measured by the overall financial ratio can be said to be quite good, although there are still some fluctuating ratios. Whereas financial performance is assessed using the Economic Value Added (EVA) method which results in a negative result (EVA <0), which means that the company is unable to produce added value for shareholders. The results of the comparison of the two methods explain that there are differences caused by capital costs that are not taken into account in the analysis of financial ratios. Keywords: Financial Ratios, Economic Value Added, Financial Performance

Keywords
Keywords: Financial Ratios, Economic Value Added, Financial Performance

Topic
Financial Accounting

Link: https://ifory.id/abstract/zbv4Z8MwTEHh

Corresponding Author
Siti Nuridah

Institutions
Sekolah Tinggi Ilmu Ekonomi Indonesia

Abstract
Abstract – The objective of the study to analyze the sticky cost behavior and the factors that affect the cost stickiness on manufacturing companies listed in Indonesia Stock Exchange. The behavior of sticky cost in this study is found by analyzing selling, general and administrative cost which are categorized into several industry groups to observe the annual degree of sticky cost of each group of industry, In addition the factors that affect the cost stickiness capital intensity ratio, employee intensity ratio, incentive management as measured by free cash flow and the control variabel, firm size. The method used in this study is multiple linear regression analysis using the equation as measured by Anderson, Banker and Janakiraman. The sample is determined by purposive sampling method with the number of samples of 97 companies during the period 2014-2018. The result of this study are that sticky cost behavior occurs in all manufacturing companies in Indonesia. The largest and smallest degrees of sticky cost occurs in animal feed and other sectors, which is as proof that the company such sectors has in consistent management in supervising and controlling selling, general and administrative cost. Furthermore the result of the factors affecting the cost stickiness show that : 1) capital intensity ratio does not influence the degree of cost stickiness, 2) employee intensity ratio affects the degree of stickiness, 3) free cash flow does not affect the degree of cost stickiness, and 4) firm size of control variable affects the degree of cost stickiness.

Keywords
Selling, General and Administrative Cost:Capital Intensity Ratio:Employee Intensity Ratio:Free Cash Flow:Sticky Cost

Topic
Financial Accounting

Link: https://ifory.id/abstract/r3En6WUTxCgX

Corresponding Author
Lies Zufiati

Institutions
Sekolah Tinggi Ilmu Ekonomi Indonesia, Jakarta, Indonesia

Abstract
This study aims to determine the effects of debt covenant and managerial ownership structure on accounting conservatism in manufacturing companies listed in the Indonesia Stock Exchange (IDX) period 2016-2018. According to Givoly and Hayn (2000), accounting conservatism is proxied by total accrual, while debt covenant is proxied by leverage. Managerial ownership structure is measured by managerial ownership level. The control variables are firm size and sales growth. The sample in this study is manufacturing companies listed in Indonesia Stock Exchange (IDX) period 2016-2018. The companies selected using purposive sampling amount to 112 companies for 3 consecutive years, or336 companies in total. This study employed data panel regression with eviews version 10.0. The findings of this study show that debt covenant and sales growth have a positive and significant effect while managerial ownership structure and firm size havea positive and insignificant effect on accounting conservatism in the manufacturing companies listed in Indonesia Stock Exchange (IDX) period 2016-2018.

Keywords
Debt Covenant, Managerial Ownership Structure, Accounting Conservatism

Topic
Financial Accounting

Link: https://ifory.id/abstract/4Ax9FvbtmzXk

Corresponding Author
Lela Nurlaela Wati

Institutions
(1) Accounting Department
STIE Muhammadiyah Jakarta
Jakarta, Indonesia
Ramdany2012[at]gmail.com
STIE Muhammadiyah Jakarta
(2) Finance Management Department
STIE Muhammadiyah Jakarta
Jakarta, Indonesia
Lela[at]stiemj.ac.id; lela_nwm[at]yahoo.com
(3) Accounting Department
STIE Muhammadiyah Jakarta
Jakarta, Indonesia
Momon.lesmana[at]gmail.com

Abstract
Abstract – Accounting conservatism is a controversial topic and a debate in accounting research. Conservatism is an accounting principle whose application will cause profits and assets to be low and costs and debt to be high. One of the factors that determine the level of conservatism in a companys financial reporting is the commitment of the management and internal company in providing transparent, accurate and not misleading information for investors. This is a part of the implementation of Good Corporate Governance. The many cases of fraud and accounting reporting scandals in Indonesia indicate the low level of conservatism applied by companies in preparing their financial statements indirectly. The paper aims to analyse the financial and non-financial factors which influence accounting conservatism both accruals based and market value based. The sample of this research are 897 data of 69 conglomerates on the Indonesia Stock Exchange (IDX) from 2005 to 2017. Regression panel data was used for analysis. It was found that financial factors (leverage, size, profitability and growth), good corporate governance (independent commissioners and audit litigation) are determining factors to the accounting conservatism based market. Meanwhile, determinant of accounting conservatism based accrual are profitability, firm size and audit litigation. Market value approach is better than accruals based to measure Accounting conservatism models in Indonesia conglomerates. The finding of result supported positive accounting theory (bonus plan, debt covenant, and political cost hypothesis).

Keywords
Accounting conservatism, financial factors, Good Corporate Governance

Topic
Financial Accounting

Link: https://ifory.id/abstract/jPqp2JxBUzHw

Corresponding Author
NELLI NOVYARNI

Institutions
SEKOLAH TINGGI ILMU EKONOMI INDONESIA JAKARTA

Abstract
This study aims to determine: (1) Effect of Current Ratio on Dividend Payout Ratio. (2) Effect of Return On Asset on Dividend Payout Ratio. (3) Effect of Net Profit Margin on the Dividend Payout Ratio. (4) Effect of Debt to Equity Ratio on Dividend Payout Ratio. (5) Effect of Current Ratio, Return On Assets, Net Profit Margin, and Debt to Equity Ratio on Dividend Payout Ratio for companies listed in the LQ45 index on the Indonesia Stock Exchange in 2013-2018. This study uses a quantitative type of descriptive research approach, which is measured by panel data and multiple linear methods with Eviews 10. The population in this study are companies listed in the LQ45 index on the Indonesia Stock Exchange in 2013-2018. The research sample of 10 companies was obtained by purposive sampling technique, so that the total observations in this study were 60 observations. The data used in this study is secondary data. The technique of collecting data uses documentation methods through the official IDX website: www.idx.co.id. Testing the hypothesis in this study using the t test (partially) and F test (simultaneously). The results of partial studies (t test) show that (1) Current Ratio has a significant effect on Dividend Payout Ratio. (2) Return on Assets does not have a significant effect on Dividend Payout Ratio. (3) Net Profit Margin has no significant effect on Dividend Payout Ratio. (4) Debt to Equity Ratio has no significant effect on Dividend Payout Ratio. Whereas the F test (Model Test) shows that the estimated regression model is feasible to use to explain the effect (5). Current Ratio, Return On Assets, Net Profit Margin, and Debt to Equity Ratio to the dependent variable Dividend Payout Ratio.

Keywords
Keywords : Dividend Payout Ratio, Current Ratio, Return On Asset, Net Profit, Margin, and Debt to Equity Ratio

Topic
Financial Accounting

Link: https://ifory.id/abstract/fGkEHzy26mA8

Corresponding Author
Hendra Gustomi

Institutions
Sekolah Tinggi Ilmu Ekonomi Sakti Alam Kerinci

Abstract
A popular entity in the field of economy that is built from the village presence of Bumdesa/Bumnag. The establishment of this business entity is expected to be the economic solution of community in the village even become new economic movement. The popularity of this business entity is not all successful due to the difference in business perspective by its care. The success of a Bumdesa/Bumnag entity must be measured both quantitatively and qualitatively, so the model of the development of Bumdesa/Bumnag in the future. Four perspectives of Balance scorecard that have long been used in various business entities are considered capable of measuring the success of Bumdesa through performance indicators (KPIS). KPI is capable of demonstrating the driving characteristics of the development and empowerment of BUMDESA and the factors that are considered to weaken the bumdesa. A total of 41 people consisted of 123 administrators using questionnaire instruments. The results of research using the Structural Equations Model Smart PLS can conclude that the four-perspective balance scorecard can measure the performance of the Bumdesa/Bumnag caretaker. Of the four perspectives of Balance scorecard obtained the highest KPI value is a learning and growth perspective followed by internal business processes, financial perspectives and customer perspectives. The results of this research can be a role model field that must be developed in order to development of Bumdesa/Bumnag can run as a business entity that encourages the village economy

Keywords
balance scorecard, bumnag, kpi

Topic
Financial Accounting

Link: https://ifory.id/abstract/aUyzuCMKpVYf

Corresponding Author
abdurrahman Hasan

Institutions
(a)Faculty Of Economic and Business
University Of Esa Unggul
Jakarta, Indonesia
*abdurrahman[at]esaunggul.ac.id

(b) Central Bureau of Statistics

Abstract
Financial statements are important information for decision makers, because they contain the financial position, performance and changes in the companys financial position. However, determining the performance of a company can be used in various ways and functions to get benefits as information in determining the direction of company policy. The objectives of this research are to formulate the design of earning management formulations and models, measure intellectual capital, and the level of efficiency in the corporate services sector in Indonesia. Furthermore, testing is carried out to make a prediction model about the consequences of earning management actions, intellectual capital, and efficiency ratio on Company Performance in Indonesia. The chosen research subjects are the Health services sub-sector company and the Restaurant, Hotel and Tourism sub-sector operating in Indonesia from 2013 to 2018. The data analysis method used is Path Analysis. The results showed that only earnings management, intellectual capital from VACA, and efficiency of the SFA ratio only affect the Companys performance while the intellectual capital from VAHU and STVA has no effect on company performance. The implication of this research is that service companies in Indonesia still apply earnings management in conducting their business, while in terms of intellectual capital, the role is only the companys ability to utilize its capital

Keywords
Earnings Management, Intelectual Capital, Efficiency Ratio, Price to Book Value

Topic
Financial Accounting

Link: https://ifory.id/abstract/9uPnDWKHkNrw

Corresponding Author
MOCH RIDWAN

Institutions
Sekolah Tinggi Ilmu Ekonomi Indonesia
Jakarta, Indonesia

Abstract
The aim of the study was to find out the effect of earnings management on the company-s values. This study uses a sample of mining companies as many as 17 companies listed on the Indonesia Stock Exchange with a period of five years, period 2014-2018 and a total sample of 85 companies. This study uses secondary data with data collection techniques using the documentation method from the official website of the Indonesia Stock Exchange https://www.idx.co.id/ and analyzed using Software Eviews version 10. The results of this study partially is that Earnings Management has an influence on Company Value, this indicates that earnings management practices are opportunistic. The profitability control variable does not affect the Company Value, this shows the higher the profit value does not affect the Company Value. Leverage has no effect on Company Value, the greater the debt does not affect the Company Value investors only see its utilization. Size has an influence on Company Value, good and efficient company management will affect Company Value

Keywords
Earning Management and Company-s Values

Topic
Financial Accounting

Link: https://ifory.id/abstract/KNd9etGchJjB

Corresponding Author
Flourien Nurul Chusnah

Institutions
SEKOLAH TINGGI ILMU EKONOMI INDONESIA

Abstract
This study aims to obtain empirical evidence of the influence of financial performance proxied by profitability, liquidity and capital structure to income smoothing practice. The population of this study covers property and real estate companies at Indonesia Stock Exchange on period 2014-2017. The indicators which are used to measure income smoothing practice was measured using eckel indeks. Mechanical sample selection using purposive sampling and acquired 32 companies that were included with period by 4 years in order to get the 128 samples was observed. Model data analysis in this research is logistic regression analysis with using software SPSS 22. From this study, the result of a combination of independent variables that are profitability, liquidity, capital structure and size of company as control variable, are able to explain the variation of the dependent variable is income smoothing practice for 22.10% and 77.90% the rest is explained by other factors were not involved in this model. The results also showed simultaneous independent variables that are profitability, liquidity, and capital structure are significantly influence income smoothing practice. From the test results obtained partial results showing variable profitability (ROE) with positive direction has significant effect to income smoothing practice, variable liquidity (CR) has not significant effect to income smoothing practice, and variable capital structure (DER) with positive direction has significant effect to income smoothing practice.

Keywords
Financial Performance, profitability, liquidity, capital structure, size of company, income smoothing

Topic
Financial Accounting

Link: https://ifory.id/abstract/NtHmMgf2uea9

Corresponding Author
Titi Aslah

Institutions
STEI INDONESIA

Abstract
This study aims to examine the effect of profitability, liquidity, asset structure, and company size on the capital structure of mining companies in the Indonesia Stock Exchange, in order to facilitate investors in investing. The research method used is a quantitative method using secondary data. The population in this study are coal mining companies listed on the Indonesia Stock Exchange from 2013-2017. The sample used was 18 companies using purposive sampling method, descriptive statistical data analysis techniques using Eviews Software. The results of this study indicate that profitability has no significant effect on capital structure, which is caused by the inability of the company to produce the maximum length of funds provided by shareholders, which means the companys financial performance is not good. Liquidity has a negative and significant effect on capital structure, where companies have abundant sources of funds, so companies are more likely to use internal funds to finance their investments. Asset structure has no positive effect but is not significant on capital structure, which means the higher the asset structure of a company the lower the companys ability to be able to guarantee long-term debt. The size of the company has a negative and significant effect on capital structure, which means that the larger the company, the greater the funds that will be issued both from their own capital and debt to maintain or develop the company.

Keywords
Key words: Profitability, liquiduty, asset structure, company size, and capital structure.

Topic
Financial Accounting

Link: https://ifory.id/abstract/QRu4XyqbVEwZ

Corresponding Author
Fajar Rachmanto

Institutions
Sekolah Tinggi Manajemen IPMI

Abstract
With the growing world of business, the competition between similiar companies getting tighter. To maintain the viability of a company, it is required a good management of resources conducted by the mangement. Working Capital (WC) management is very important for a company, especially the turn-overs of WC and Account Receivable (AR) due to the effect in measuring its profitbility. This research was conducted to re-examine the effect of the turn-overs of WC and AR on the profitability of PT. Merck Tbk, which has been carried out by previous researchers. The puposes of this research were to know: (1) the effect of account receivable turnover to company profitability, (2) the effect of working capital turnover to company, (3) the effect of account receivable turnover and working capitak turnover to company profitability. The research method used were financial ratio analysis, correlation coefficient test, coefficient of determination test and hypothesis test. The data used in this study was secondary data sourced from financial statement PT. Merck Tbk period of 2014-2018. The result based of the multiple linear regression tests showed that simultaneously the turn-overs of WC and AR significantly affected the profitability of the company, Fcount > Ftable or 321.810 > 9.55. Partially, AR turnover has negative effect on company profitability, with tcount < ttable or -23.927 < 4.303 and WC turnover has no effect on company profitability, with tcount < ttable or -1.011 < 4.303. Therefore, it can be agreed that the hypothesis H1 and H2 in this research were rejected, but the hypothesis H3 was acceptable.

Keywords
working capital turnover; account receivable turnover; profitability

Topic
Financial Accounting

Link: https://ifory.id/abstract/jtgCPvpkXRxm

Corresponding Author
Siti Almurni

Institutions
Sekolah Tinggi Ilmu Ekonomi Indonesia (STEI)
Jalan Kayu Jati Raya No 11 A, Rawamangun, Jakarta Timur 13220, Indonesia
*siti_almurni[at]stei.ac.id

Abstract
This study is aimed to test the effect of Corporate Governance and Corporate Social Responsibility on Firm Value in manufacturing companies in the consumer goods industry sector is listed on the Indonesia Stock Exchange.This research uses a descriptive quantitative research approach, which is measured using a panel data-based method with Eviews software. The population in this study were manufacturing companies manufacturing consumer goods industry listed on the Indonesia Stock Exchange (BEI) in 2016 until 2018. The sample was determined based on purposive sampling method, with a total sample of 18 manufacturing companies manufacturing consumer goods industry sectors so that the total observation in the study this is as much as 54 observation. The data used in this study are secondary data. Data collection techniques using the method of documentation through the official website of IDX : www.idx.co.id. The results of the study prove that (1) Managerial Ownership has effect on Company Value. (2) Institutional ownership has effect on Company Value. (3) Committee Audit has no effect on Company Value. (4) Corporate Social Responsibility has effect on Company Value.

Keywords
Firm Value Managerial Ownership, Ownership Institutional, Committee Audit, Corporate Social Responsibility.

Topic
Financial Accounting

Link: https://ifory.id/abstract/N2xHAJ6KfgTk

Corresponding Author
Ari Sarah Sofura

Institutions
Sekolah Tinggi Ilmu Ekonomi Indonesia, Jakarta, Indonesia sarahsofura[at]gmail.com (a*), Sekolah Tinggi Ilmu Ekonomi Indonesia Jakarta, Indonesia Imvanisa[at]gmail.com (b) Sekolah Tinggi Ilmu Ekonomi Indonesia Jakarta Jakarta, Indonesia Iman.suriawinata[at]stei.ac.id (c),

Abstract
This study aims to determine the effect of earnings management, corporate governance and company size partially on firm value with corporate governance as moderating. This study uses a sample of manufacturing companies in the basic industry and chemical sectors as many as 27 companies listed on the Indonesia Stock Exchange with a period of five years, namely 2013-2017 and a total sample of 135 companies. This study uses secondary data with data collection techniques using the documentation method from the official website of the Indonesia Stock Exchange and stock-ok and analyzed using Software Eviews version 10. The results of this study partially are earnings management has an influence on firm value, corporate governance has an influence on firm value, company size has an influence on firm value and corporate governance has a negative effect as a moderating between earnings management and company size on firm value.

Keywords
Tobin-s Q, DA, CG, Size

Topic
Financial Accounting

Link: https://ifory.id/abstract/EcqaHVZx4fuR

Corresponding Author
ONO TARSONO

Institutions
Sekolah Tinggi Ilmu Ekonomi Indonesia
Jalan Kayu Jati Raya Nomor 11 A Rawamangun
Jakarta, Indonesia

Abstract
Abstract - The objective of this research was to examine and analyze the influence of Net Premium Growth, Claim Ratio and Risk Based Capital affect the Financial Performance of Life Insurance Companies. The study population was insurance companies listed on the Indonesia Stock Exchange from 2014 to 2018. The sample used in this study were 17 life insurance companies. The statistical tool in this study is Eviews 11. Net Premium Growth and claim ratio do not significantly influence financial performance. Risk Based Capital has a negative effect on the financial performance of life insurance, namely ROA. Simultaneously the three ratios of Net Premium Growth, Claim Ratio, and Risk Based Capital affect the financial performance of life insurance companies that are proxied by ROA. The implication of this research is that life insurance companies are expected to be able to maintain the stability of premium growth every year to be above the normal limit of 23%

Keywords
Net Premium Growth, Risk-Based Claims and Capital Ratios on Financial Performance

Topic
Financial Accounting

Link: https://ifory.id/abstract/ngVC6zLjyxBD