Jurnal Ilmu & Riset Akuntansi Vol. 4 No. 11 (2015)
PEN G A R U H
Pengaruh Mekanisme Corporate Governance... - Azhari, Nurul
M E K A N IS M E C O R P O R A T E G O V E R N A N C E T E R H A D A P LA B A
PA D A PER U SA H A A N
K U A L IT A S
M A N U FA K T U R
N u ru l A z h a ri u y u n d a z h a r i@ g m a il.co m N u r F a d jr ih A s y ik
S e k o la h T in g g i Ilm u E k o n o m i In d o n e s ia (S T IE S IA ) S u r a b a y a
A B STR A C T T h e p u r p o s e o f t h is r e s e a r c h is t o t e s t t h e in flu e n c e o f a u d it c o m m it t e e , in s t it u t io n a l o w n e r s h ip , m a n a g e r ia l o w n e r s h ip , a n d in d e p e n d e n t c o m m is s io n e r t o t h e p r o fit q u a lit y
o n t h e m a n u fa c t u r in g
c o m p a n ie s in 2 0 0 9 - 2 0 1 3 p e r io d s .T h e s a m p le s a r e
m a n u fa c t u r in g c o m p a n ie s w h ic h a r e lis t e d in I n d o n e s ia S t o c k E x c h a n g e . T h e d a t a is t h e s e c o n d a r y d a t a w h ic h is in t h e fo r m o f a u d it e d fin a n c ia l s t a t e m e n t in 2 0 0 9 - 2 0 1 3 p e r io d s a n d 2 1 c o m p a n ie s h a v e b e e n s e le c t e d a s s a m p le s b y u s in g p u r p o s iv e s a m p lin g m e t h o d . T h e in d e p e n d e n t v a r ia b le s in t h is r e s e a r c h a r e a u d it c o m m it t e e , t h e in s t it u t io n a l o w n e r s h ip , m a n a g e r ia l o w n e r s h ip , a n d in d e p e n d e n t c o m m is s io n e r w h e r e a s t h e d e p e n d e n t v a r ia b le is t h e p r o fit q u a lit y . T h e d a t a a n a ly s is h a s b e e n d o n e b y u s in g m u lt ip le lin e a r r e g r e s s io n s .T h e r e s u lt o f t h e r e s e a r c h s h o w s t h a t a u d it c o m m it t e e , t h e in s t it u t io n a l o w n e r s h ip , m a n a g e r ia l o w n e r s h ip , a n d in d e p e n d e n t c o m m is s io n e r w h ic h h a v e b e e n in c lu d e d in t h e m o d e l a r e s u it a b le t o b e u s e d a s t h e e x p la n a t o r y v a r ia b le o f p r o fit q u a lit y . P a r t ia lly , t h e m a n a g e r ia l o w n e r s h ip h a s n e g a t iv e a n d s ig n ific a n t t o t h e p r o fit q u a lit y w h ic h is m e a s u r e d b y u s in g d is c r e t io n a r y a c c r u a ls w h ic h m e a n s t h a t w h e n t h e m a n a g e r ia l o w n e r s h ip is g e t t in g h ig h , t h e d is c r e t io n a r y
a c c r u a ls
is
g e t t in g
lo w
t h e r e fo r e
it g e n e r a t e s
b etter
p r o fit q u a lit y
and
v ic e
v e r s a . M e a n w h ile , t h e a u d it
c o m m it t e e , in s t it u t io n a l o w n e r s h ip , a n d in d e p e n d e n t c o m m is s io n e r v a r ia b le s d o n o t h a v e a n y s ig n ific a n t in flu e n c e t o t h e p r o fit q u a lit y .
K eyw o rd s:
A u d it C o m m it t e e , I n s t it u t io n a l O w n e r s h ip , M a n a g e r ia l O w n e r s h ip , I n d e p e n d e n t C o m m is io n e r , P r o fit Q u a lit y .
IN T IS A R I P e n e lit ia n
in i
b e rtu ju a n
u n tu k
m e n g u ji
p en ga ru h
k o m it e
a u d it ,
k e p e m ilik a n
in s t it u s io n a l,
k e p e m ilik a n
m a n a j e r ia l, d a n k o m is a r is in d e p e n d e n t e r h a d a p k u a lit a s la b a p a d a p e r u s a h a a n m a n u f a k t u r p a d a p e r io d e 2 0 0 9 2 0 1 3 . S a m p e l p e n e lit ia n
in i a d a la h
p eru sa h a a n
y a n g d ig u n a k a n a d a la h d a t a s e k u n d e r d a la m d ip ilih in i
m e la lu i m e t o d e
m en ggu n a ka n
dan
k o m is a r is
d ig u n a k a n k e p e m ilik a n
p u r p o s iv e s a m p lin g
v a r ia b e l in d e p e n d e n
in d e p e n d e n
a d a la h
a n a lis is
sed a n g k a n re g resi
E f e k I n d o n e s ia . J e n is d a t a
s e h in g g a d ip e r o le h 2 1 s a m p e l p e r u s a h a a n . V a r ia b e l d a la m
y a it u
k o m it e
u n tu k
lin ie r
in s t it u s io n a l, k e p e m ilik a n
m a n u fa k tu r y a n g te rd a fta r d i B u rsa
b e n t u k la p o r a n k e u a n g a n y a n g t e la h d ia u d it p e r io d e 2 0 0 9 - 2 0 1 3 d a n
a u d it , k e p e m ilik a n
v a r ia b e l d e p e n d e n n y a
berga n d a .
H a s il
m a n a j e r ia l, d a n
d a n n e g a t if t e r h a d a p k u a lit a s la b a y a n g d iu k u r d e n g a n
a d a la h
p e n e lit ia n
k o m is a r is
t e la h s e s u a i s e b a g a i v a r ia b e l p e n j e la s k u a lit a s la b a . S e c a r a p a r s ia l
in s t it u s io n a l, k e p e m ilik a n k u a lit a s
la b a . A n a lis is
m e n u n ju k k a n
in d e p e n d e n
yan g
bah w a
p e n e lit ia n
m a n a j e r ia l, d a ta
yan g
k o m it e
a u d it ,
d a la m
m od el
d im a s u k k a n
k e p e m ilik a n m a n a j e r ia l b e r p e n g a r u h s ig n if ik a n
d is c r e t io n a r y a c c r u a ls a r t in y a s e m a k in t in g g i k e p e m ilik a n
m a n a j e r ia l m a k a d is c r e t io n a r y a c c r u a ls s e m a k in m e n u r u n s e h in g g a m e n g h a s ilk a n k u a lit a s la b a y a n g s e m a k in b a ik , b e g it u
p u la
s e b a lik n y a . S e d a n g k a n
v a r ia b e l k o m it e a u d it , k e p e m ilik a n
in s t it u s io n a l, d a n
k o m is a r is in d e p e n d e n
t id a k b e r p e n g a r u h s ig n if ik a n t e r h a d a p k u a lit a s la b a .
K a ta k u n c i: k o m ite a u d it, k e p e m ilik a n in s titu s io n a l, k e p e m ilik a n m a n a je ria l, k o m is a ris in d e p e n d e n , k u a litas la b a .
PEN D A H U LU A N P e ru sa h a a n u ta m a
a d a la h
sah am
p e ru sa h a a n
S ia lla g a n
dan
m e m a k s im a lk a n
u ta m a
b e rm a n fa a t
a p a b ila
n ila i
bah w a
d a la m
te rs e b u t
N ila i
su dah
p e ru sa h a a n lis tin g
t e r c e m in
d i b u rsa
sah am .
d a ri
h a rg a
P e n e lit ia n
m e n g u ji p e n g a r u h k u a lit a s la b a t e r h a d a p n ila i p e r u s a h a a n
k u a lit a s
p e n y a jia n
p e ru sa h a a n .
p e ru sa h a a n
M a c h fo e d z (2 0 0 6 )
m e n y im p u lk a n T u ju a n
m e m ilik i b e b e r a p a t u ju a n y a n g in g in d ic a p a i n a m u n t u ju a n y a n g p a lin g
la b a
in fo r m a s i
p e n g a m b ila n
se ca ra
p o s it if b e r p e n g a r u h
keuan gan
k e p u tu s a n
a d a la h
u n tu k
e k o n o m i a ta u
te rh a d a p
n ila i p e r u s a h a a n .
m e m b e r ik a n
in fo r m a s i
in v e s t a s i, s e h a r u s n y a
la b a
yan g yan g
d is a jik a n m e r u p a k a n la b a y a n g b e r k u a lit a s . N a m u n d e m ik ia n , h a s il p e n e lit ia n m e n u n ju k k a n bah w a lit e r a t u r
la b a
yan g
te n ta n g
a k u n t a n s i o le h
d is a jik a n
t id a k
m a n a je m e n
m a n a je r u n t u k
la b a
s e la lu yan g
b e r k u a lit a s . dapat
m e n c a p a i t u ju a n
H al
d id e fin is i te rte n tu
in i
ban yak
sebagai
d it e m u k a n
p e m ilih a n
(S c o t t , 2 0 0 6 ). Jik a
la b a
d a la m
k e b ija k a n s e p e r t i in i
Jurnal Ilmu & Riset Akuntansi Vol. 4 No. 11 (2015)
Pengaruh Mekanisme Corporate Governance... - Azhari, Nurul 2
d ig u n a k a n
o le h
m e n je la s k a n la b a
akan
in v e s t o r
u n tu k
m e m b e n tu k
n ila i
p asar
p e ru sa h a a n ,
m aka
la b a
t id a k
n ila i p a s a r p e r u s a h a a n y a n g s e b e n a r n y a (B o e d io n o , 2 0 0 5 ). R e n d a h n y a k u a lit a s dapat
m em buat
k e s a la h a n
p e m b u a ta n
k e p u tu s a n
p a ra
p e m a k a in y a
s e p e rti
in v e s t o r d a n k r e d it o r , s e h in g g a n ila i p e r u s a h a a n a k a n b e r k u r a n g (S ia lla g a n d a n M a c h fo e d z , 2 0 0 6 ). Laba d ig u n a k a n
dapat o le h
d ik a t a k a n
p a ra
m e m ilik i k a r a k t e r is t ik M e n u ru t P e n m a n
b e r k u a lit a s
pen ggun a
u n tu k
t in g g i
m em buat
a p a b ila
la b a
k e p u tu s a n
r e le v a n s i, r e lia b ilit a s , k o m p a r a b il it a s d a n
dan
C oh en
(d a la m
yan g
yan g
d ila p o r k a n
t e r b a ik
y a it u
dapat
la b a
yan g
k o n s is t e n s i (S u t o p o , 2 0 0 9 ).
W ib o w o , 2 0 0 9 ) la b a t a h u n
b e r ja la n
m e m ilik i k u a lit a s
y a n g b a ik jik a la b a t e r s e b u t m e n ja d i in d ik a t o r y a n g b a ik u n t u k la b a y a n g a k a n d a t a n g , a t a u b e rh u b u n g a n s e ca ra k u a t d e n g a n a ru s k a s o p e r a s i d i m a s a m e n d a ta n g . B e b e ra p a d ila k u k a n
p e n e lit ia n
o le h
m e n in g k a t k a n
m en dukun g
m a n a je m e n .
kom p en sasi
Ban yak
m a n a je r
bah w a
m a n ip u la s i t e r h a d a p
a la s a n
m e la k u k a n
t e r k a it
den gan
la b a
m a n a je m e n
yan g
h a r g a s a h a m , d a n u s a h a m e n d a p a t s u b s id i d a r i p e m e r in t a h . o le h
m a n a je m e n
m e n y a ta k a n sebagai
y a n g le b ih
bah w a
p ih a k
k o n d is i
yan g
t e r ja d i k a r e n a d a la m
la p o r a n
dapat
yan g
te n ta n g
d ib u a t n y a
te rm a s u k
m e n in g k a t k a n
p e ru sa h a a n . D e ch o w m a s a la h
k in e r ja
s e n d ir i.
la b a ,
d ila p o r k a n ,
s e r in g
P e n y u s u n a n e a r n in g s d ila k u k a n
m e n im b u lk a n
in fo r m a s i
ju g a
Laba
k a re n a
p e ru sa h a a n yan g
e t a l. (1 9 9 5 )
k u ra n g
m a n a je m e n
d ie v a lu a s i
dan
b e r k u a lit a s
b is a
m e n ja la n k a n b is n is p e r u s a h a a n , m a n a je m e n b u k a n m e r u p a k a n p e m ilik
p e ru sa h a a n .
P e m is a h a n
p e n g e n d a lia n
dan
t id a k
te rs e b u t
m e m b e r ik a n
d ih a r g a i b e r d a s a r k a n
b e r t in d a k
m e n g e t a h u i k o n d is i d i d a la m
e a r n in g s
k e p e m ilik a n
p e la k s a n a a n sesu ai
in i
akan
p e n g e lo la a n
den gan
dapat
p e ru sa h a a n
k e in g in a n
p a ra
m e n im b u lk a n
yan g
p e m ilik .
k o n flik
m en yebabkan K o n flik
yan g
p a ra
d a la m m a n a je r
t e r ja d i
a k ib a t
p e m is a h a n k e p e m ilik a n in i d is e b u t d e n g a n k o n flik k e a g e n a n . A g en cy
th eo ry
d im in im u m k a n
m e m b e r ik a n
den gan
pan dan gan
p en gaw asan
s e n d ir i
bah w a
m a s a la h
e a r n in g s
m e la lu i p e n e r a p a n
good
m an agem en t
co rp o ra te
dapat
g ov ern an ce.
M e n u r u t S u t e d i (2 0 1 1 ) g o o d c o r p o r a te g o v e r n a n c e d a p a t d id e f in is ik a n s e b a g a i s a la h s a t u p r o s e s dan
s tru k tu r y a n g yan g
d ig u n a k a n
p ih a k
la in
u n tu k
m e n in g k a t k a n
o le h
b e rh u b u n g a n
p e ru sa h a a n
den gan
k e b e r h a s ila n
n ila i p e m e g a n g s a h a m
d a la m
( d ir e k t u r , m a n a je r , p e m e g a n g
p e rk e m b a n g a n
u sah a
dan
p e ru sa h a a n
sah am , dan
d i lin g k u n g a n
a k u n t a b ilit a s p e r u s a h a a n
te rte n tu )
g u n a m e w u ju d k a n
ja n g k a p a n ja n g d e n g a n t e t a p m e m e r h a t ik a n s t a k e h o l d e r la in n y a
d e n g a n b e r la n d a s k a n p e r a t u r a n p e r u n d a n g - u n d a n g a n d a n n ila i- n ila i e t ik a y a n g a d a . B e b e ra p a m e n g a ta s i
m e k a n is m e
m a s a la h
good
keagen an
co rp o ra te
te rs e b u t
g ov ern an ce
a d a la h
k o m it e
yan g a u d it ,
dapat
d ig u n a k a n
k e p e m ilik a n
u n tu k
in s t it u s io n a l,
k e p e m ilik a n m a n a je r ia l, d a n d e w a n k o m is a r is in d e p e n d e n .
dapat
B e rd a sa rk a n
u r a ia n
d ir u m u s k a n
sebagai
g ov ern an ce y a n g te rd a p a t
b e r ik u t :
d iu k u r d e n g a n
p e n g a ru h
m a n a je r ia l
p a d a la t a r b e la k a n g d i a t a s , m a k a m a s a la h d a la m
m e k a n is m e
te rh a d a p
k u a lit a s
(1 )
A pakah
k o m is a r is co rp o ra te
la b a ?
(3 )
te rd a p a t
in d e p e n d e n g ov ern an ce
A pakah
p e n g a ru h
te rh a d a p yan g
te rd a p a t
m e k a n is m e
k u a lit a s
d iu k u r
p e n g a ru h
p e n e lit ia n
la b a ?
den gan
in i
co rp o ra te
(2 ) A p a k a h k e p e m ilik a n
m e k a n is m e
co rp o ra te
g o v e r n a n c e y a n g d iu k u r d e n g a n k e p e m ilik a n in s t it u s io n a l t e r h a d a p k u a lit a s la b a ? (4 ) A p a k a h te rd a p a t
p e n g a ru h
m e k a n is m e
co rp o ra te
g ov ern an ce
yan g
d iu k u r
den gan
k o m it e
a u d it
t e r h a d a p k u a lit a s la b a ? T u ju a n
d a r i p e n e lit ia n
co rp o ra te g o v ern a n ce U n tu k
m e n g u ji
k e p e m ilik a n m e k a n is m e k u a lit a s
yan g
adan ya
m a n a je r ia l co rp o ra te
la b a .
(4 )
in i a d a la h : ( 1 ) U n t u k m e n g u ji a d a n y a p e n g a r u h
d iu k u r d e n g a n p e n g a ru h te rh a d a p
g ov ern an ce
U n tu k
m e k a n is m e k u a it a s
yan g
m e n g u ji
k o m is a r is
adan ya
co rp o ra te
la b a .
d iu k u r
in d e p e n d e n
(3 )
p e n g a ru h
d iu k u r d e n g a n k o m it e a u d it t e r h a d a p k u a lit a s la b a .
g ov ern an ce
U n tu k
den gan
te rh a d a p yan g
m e n g u ji
k e p e m ilik a n
m e k a n is m e
m e k a n is m e
k u a lit a s d iu k u r
adan ya
in s t it u s io n a l
co rp o ra te
la b a . (2 ) den gan
p e n g a ru h te rh a d a p
g ov ern an ce
yan g
Jurnal Ilmu & Riset Akuntansi Vol. 4 No. 11 (2015)
Pengaruh Mekanisme Corporate Governance... - Azhari, Nurul 3
T IN JA U A N
T E O R E T IS
D A N H IP O T E S IS
A gen cy T h eo ry T e o ri k e a g e n a n
(ag en cy
th eo ry ) m e n u ru t Je n s e n
k o n tra k a n ta ra p e m e g a n g s a h a m
dan
M e c k lin g (1 9 7 6 ) a d a la h
sebu ah
( p r i n c i p a l ) d a n m a n a je r ( a g e n t ) y a n g m a n a b a ik p e m ilik d a n
m a n a je r m e r u p a k a n p e m a k s im u m a n k e s e ja h t e r a a n . M a n a je r m e m p e r o le h u p a h d a n in s e n t if la in n y a d a r i p e r u s a h a a n k a r e n a m e w a k ili p e m ilik p e r u s a h a a n d a la m D a la m
h al
in i,
se o ra n g
pem egan g
sah am
h ubun gan
keagen an
m a n a je r
( p r in cip a l). (R a o ,
t e r t a r ik
p e ru sa h a a n
se o ra n g
H ubun gan
1 9 9 2 ).
b e r t in d a k a t a s k e p e n t in g a n h an ya
a d a la h
agen
a n ta ra
T e o ri
( ag en t)
p r in cip a l
agen si
dan
kepada
h a s il
sedan gkan
p a ra
keuan gan agen t
yan g
b e rta m b a h
d ia s u m s ik a n
k e u a n g a n d a n s y a r a t - s y a r a t y a n g m e n y e r t a i d a la m
in i
bah w a
a ta s
d is e b u t sem u a
n am a
den gan in d iv id u
s e b a g a i p r in c ip a l d ia s u m s ik a n
a ta u
m e n e r im a
b e r t in d a k
agen t
m e n g a s u m s ik a n
m e r e k a s e n d ir i. P e m e g a n g s a h a m
m e n g a m b il k e p u t u s a n .
yan g
in v e s t a s i
kep u asan
m e re k a
b e ru p a
di
d a la m
kom p en sasi
h u b u n g a n te rs e b u t.
K u a lita s L a b a K u a lit a s p r o fit a b ilit a s
la b a
a d a la h
la b a
yan g
o p e r a s io n a l p e r u s a h a a n
se ca ra
ben ar
dan
a k u ra t
(S u to p o , 2 0 0 9 ). M e n u ru t P e n m a n
m e n g g a m b a rk a n dan
C oh en
(d a la m
W ib o w o , 2 0 0 9 ) d iu n g k a p k a n b a h w a la b a t a h u n b e r ja la n m e m ilik i k u a lit a s y a n g b a ik jik a la b a t e r s e b u t m e n ja d i in d ik a t o r y a n g b a ik u n t u k la b a m a s a m e n d a t a n g , a t a u b e r h u b u n g a n s e c a r a k u a t d e n g a n a r u s k a s o p e r a s i d i m a s a m e n d a ta n g ( fu tu r e o p e r a tin g ca s h flo w ). K u a lit a s d ih a s ilk a n
la b a
sam a
m e ru p a k a n
den gan
apa
s u a tu
yan g
u k u ra n
su dah
u n tu k
m en cocokkan
d ir e n c a n a k a n
apakah
la b a
s e b e lu m n y a . K u a lit a s
la b a
yan g m a k in
t in g g i jik a m e n d e k a t i p e r e n c a n a a n a w a l a t a u m e le b ih i t a r g e t d a r i r e n c a n a a w a l. K u a lit a s la b a r e n d a h jik a d a la m yan g
m e n y a jik a n la b a t id a k s e s u a i d e n g a n la b a s e b e n a r n y a s e h in g g a in f o r m a s i
d id a p a t d a r i la p o r a n
d a n in v e s t o r d a la m
la b a
m e n ja d i b i a s
dan
d a m p a k n y a d a p a t m e n y e s a tk a n
m e n g a m b il k e p u t u s a n R in a w a t i (d a la m
k r e d it o r
P a u lu s , 2 0 1 2 ).
G o o d C o rp o ra te G o v ern a n ce W a rso n o d u a k a t a , y a it u
e t a l. (2 0 0 9 ) m e n y a ta k a n co rp o ra te d a n
b a h w a fra s a
c o r p o r a te g o v e r n a n c e (C G ) t e r d ir i a t a s
g o v e r n a n c e . K a t a c o r p o r a te m e r u p a k a n k a t a s ifa t ( a d je c tiv e ) y a n g
b e r m a k n a b e r b a g a i s ifa t y a n g b e r k a it a n
den gan
k o rp o ra s i a ta u p e ru s a h a a n s e d a n g k a n k a ta
g o v e r n a n c e m e r u p a k a n k a t a b e n d a ( n o u n ) y a n g b e r m a k n a p e n g e lo la a n . M e n u ru t p ro se s d a n
S u te d i
(2 0 1 1 )
good
co rp o ra te
s t r u k t u r y a n g d ig u n a k a n
o le h
g ov ern an ce
o rg a n
dapat
p e ru sa h a a n
d id e fin is ik a n
s e b a g a i s u a tu
( d ir e k t u r , m a n a je r , p e m e g a n g
s a h a m , d a n p ih a k la in y a n g b e r h u b u n g a n d e n g a n p e r k e m b a n g a n p e r u s a h a a n d i lin g k u n g a n te rte n tu )
u n tu k
m e w u ju d k a n s ta k e h o ld e r s
m e n in g k a t k a n
n ila i p e m e g a n g
la in n y a
den gan
k e b e r h a s ila n
sah am
d a la m
b e r la n d a s k a n
u sah a ja n g k a
dan
a k u n t a b ilit a s
p a n ja n g
p e ra tu ra n
den gan
p e ru sa h a a n
te ta p
gun a
m e m p e r h a t ik a n
p e ru n d a n g -u n d a n g a n
dan
n ila i-n ila i
e t ik a y a n g b e r la k u . B e r ik u t in i a d a la h fa k t o r - fa k t o r d a r i m e k a n is m e c o r p o r a te g o v e r n a n c e y a n g m e m p e n g a r u h i k u a lit a s G o v e rn a n ce a n g g o ta
dew an
p e n g a la m a n , K o m it e
a u d it
keuan gan s tru k tu r
k o m is a r is
dan
k u a lit a s
b e rtu g a s
d is a jik a n
dan la in
dapat yan g
w a ja r
s u a tu
m e m in ta
dew an
sesu ai
in t in y a
u n tu k
p e n g e r t ia n
m e n y a ta k a n
bah w a
den gan
s a tu
yan g
b a ik ,
k o m it e bah w a b e r la k u
K o m it e
A u d it
k o m it e
t id a k
a u d it a d a la h
le b ih
a u d it .
la p o r a n um um ,
p e la k s a n a a n
s t a n d a r t a u d it y a n g
m a n a je m e n . D a la m
a ta u
b e r b a g a i k e a h lia n ,
t u ju a n
m e m a s t ik a n
a k u n ta n s i
d ila k s a n a k a n
sesu ai den gan
den gan
m en cap ai
p r in s i p
o le h
b e ra n g g o ta k a n lu a r
u n tu k
k o m is a r is
h a s il a u d it d ila k s a n a k a n
K e p -1 0 3 / M B U / 2 0 0 2 ,
yan g
k a la n g a n
den gan
in t e r n a l p e r u s a h a a n
g a m b la n g , t e t a p i p a d a
k o m it e
d ib u t u h k a n
e k s t e r n a l d ila k s a n a k a n
t in d a k la n ju t t e m u a n N o m o r:
a u d it a d a la h
m e m b a n tu
se ca ra
p e n g e n d a lia n
in t e r n a l m a u p u n
BU M N
la b a , y a it u : ( 1 ) K o m it e a u d it . M e n u r u t K o m it e N a s io n a l K e b ija k a n
(2 0 0 6 ) k o m it e
a u d it
b e r la k u , d a n
K e p u tu s a n M e n te ri d it e r a n g k a n s u a tu
badan
se ca ra yan g
b e r a d a d i b a w a h k o m is a r is y a n g s e k u r a n g - k u r a n g n y a m in im a l s a t u o r a n g a n g g o t a k o m is a r is dan
dua
o ra n g
a h li
yan g
b e r s ifa t m a n d ir i b a ik d a la m
bukan
m e ru p a k a n
pegaw ai
BU M N
yan g
b e rs a n g k u ta n
yan g
p e la k s a n a a n t u g a s n y a m a u p u n p e la p o r a n n y a d a n b e r t a n g g u n g
Jurnal Ilmu & Riset Akuntansi Vol. 4 No. 11 (2015)
Pengaruh Mekanisme Corporate Governance... - Azhari, Nurul 4
ja w a b
la n g s u n g
K e p u tu s a n a u d it
a d a la h
k o m is a r is
Bapepam
k o m it e
m e la k s a n a k a n (d a la m
kepada
K e tu a
yan g
tu g a s
dan
a ta u
N o m o r:
dew an
p en gaw as.
K e p -4 1 / P M / 2 0 0 3
d ib e n t u k
o le h
fu n g s in y a .
(2 )
dew an
H al
yan g
k o m is a r is
K e p e m ilik a n
te rs e b u t
d a la m
in s t it u s io n a l.
keuan gan ,
in s t it u s i
la in n y a
pada
p e ru sa h a a n
a d a la h
p e ru sa h a a n
akan
m a n a je m e n ,
in s t it u s i b e r b a d a n a k h ir
ta h u n .
k e p e m ilik a n
h ukum ,
S a la h
s a tu
in s t it u s io n a l.
m e n d o r o n g p e n in g k a t a n
k a re n a
in s t it u s i lu a r
k e p e m ilik a n
sah am
fa k to r
yan g
A dan ya
n e g e r i, dapat
k e p e m ilik a n
den gan
bah w a
ra n g k a
M e n u ru t
P a u lu s , 2 0 1 2 ) k e p e m ilik a n in s t it u s io n a l a d a la h k e p e m ilik a n s a h a m
in s t it u s i
se n ada
m e n y a ta k a n
k o m it e
m e m b a n tu S h ie n
et
a l.
o le h p e m e r in t a h ,
dan a
p e r w a lia n ,
dan
m e m p e n g a r u h i k in e r j a in s t it u s io n a l d i s u a t u
p e n g a w a s a n a g a r le b ih o p t im a l t e r h a d a p k in e r ja m e w a k ili
s u a tu
su m ber
keku asaan
yan g
dapat
d ig u n a k a n u n t u k m e n d u k u n g a t a u s e b a lik n y a t e r h a d a p k in e r ja m a n a je m e n . ( 3 ) K e p e m ilik a n m a n a je r ia l .
K e p e m ilik a n
p e ru sa h a a n
yan g
( S u jo k o
dan
p re s e n ta s e u n tu k
d iu k u r d e n g a n
S o e b ia n t o r o ,
sah am
yan g
d ig u n a k a n
sebagai
m e n in g k a t k a n
p e rs e n ta s e
2 0 0 7 ).
p e r io d e
s a la h
m e n in g k a t n y a
m e ru p a k a n
s a tu
u n tu k
k e p e m ilik a n
k e in g in a n
d a ri
yan g ju g a
p ara
sah am
o le h
d im ilik i o le h dapat
m aka
m a s a la h m a n a je r
m a n a je m e n m a n a je m e n
d ia r t ik a n
d ir e k t u r p e r u s a h a a n
M e n in g k a t k a n
m e n g a ta s i
m a n a je r ia l
k in e r ja n y a s e h in g g a d a la m
m em en uh i
sah am
m a n a je r ia l
m a n a je r d a n
p e n g a m a ta n .
ca ra
k e p e m ilik a n
ju m la h
K e p e m ilik a n
d im ilik i o le h
m a s in g - m a s in g
D en gan
s e rta
m a n a je r ia l
sebagai
pada
a k h ir t a h u n
k e p e m ilik a n
m a n a je r ia l
yan g
ada
akan
di
p e ru sa h a a n .
t e r m o t iv a s i
u n tu k
h a l in i a k a n b e r d a m p a k b a ik k e p a d a p e r u s a h a a n pem egan g
sah am .
Je n s e n
dan
M e c k lin g
(1 9 7 6 )
m e n e m u k a n b a h w a k e p e m ilik a n m a n a je r ia l b e r h a s il m e n ja d i m e k a n is m e u n t u k m e n g u r a n g i m a s a la h
keagen an
den gan
pem egan g
d a r i m a n a je r d e n g a n sah am .
S e m a k in
m e n y e la r a s k a n
besar
p ro p o rsi
k e p e n t in g a n -k e p e n t in g a n
k e p e m ilik a n
sah am
pada
m a n a je r
p e ru sa h a a n
m a k a m a n a je m e n c e n d e r u n g b e r u s a h a le b ih g ia t u n t u k k e p e n t in g a n p e m e g a n g s a h a m
yan g
t id a k la in a d a la h d ir in y a s e n d ir i. (4 ) K o m is a r is in d e p e n d e n . K o m is a r is in d e p e n d e n m e n u r u t P e n je la s a n P a s a l 1 2 0 a y a t ( 2 ) U n d a n g - U n d a n g n o . 4 0 T a h u n 2 0 0 7 t e n t a n g P e r s e r o a n T e r b a t a s (U U P T )
a d a la h
k o m is a r is
k o m is a r is
in d e p e n d e n
d a r i p ih a k
lu a r . P a s a l 1 2 0
d ia n g k a t d a r i p ih a k
yan g
a y a t (2 ) U U P T
t id a k
ju g a
t e r a filia s i d e n g a n
m e n g a tu r b a h w a p em egan g sah am
u t a m a , a n g g o t a d ir e k s i d a n a t a u d e w a n k o m is a r is la in n y a . M e n u r u t P a s a l 1 2 0 a y a t (1 ) U U P T k e b e ra d a a n A n g g a ra n
k o m is a r is D asar
in d e p e n d e n
P e rse ro a n
b e rg a n tu n g
m e n g a tu r
bah w a
pada d a la m
A n g g a ra n dew an
D asar
k o m is a r is
P e rse ro a n . te rd a p a t
in d e p e n d e n , m a k a k e b e r a d a a n k o m is a r is in d e p e n d e n t e r s e b u t m e n ja d i w a jib .
A p a b ila
k o m is a r is
Jurnal Ilmu & Riset Akuntansi Vol. 4 No. 11 (2015)
Pengaruh Mekanisme Corporate Governance... - Azhari, Nurul 5
R e ra n g k a P e m ik ira n A g ency T h eory
P r in c ip a l
C o n tra ct
A g e n t /M a n a g e m e n t
A g e n c y C o n flic t
A s y m m e t r ic I n fo r m a t io n
M a n a j e m e n la b a
L a p ora n keu a n ga n
T rust
G o o d C o rp o ra te G o v ern a n ce
T ransp arancy
A c c o u n t a b ilit y
In d en p en d en cy
R e s p o n s ib ilit y
F a ir n e s s
M e k a n is m e G o o d C o r p o r a t e G o v e r n a n c e
k . in s t it u s io n a l
k . m a n a j e r ia l
K o m it e a u d it
k . in d e p e n d e n
K u a lit a s la b a
G am bar 1 R e ra n g k a P e m ik ira n
P e ru m u s a n H ip o te s is P e n g a ru h K o m ite A u d it te rh a d a p K u a lita s L a b a K le in k o m it e le b ih
(2 0 0 2 )
a u d it k e c il
m e m b e r ik a n
in d e p e n d e n d ib a n d in g k a n
b u k ti s e ca ra
m e la p o r k a n den gan
k u a lit a s
a n a lis ,
dan
p e la p o r a n
p e la p o r a n
r e g u la t o r keuan gan .
keuan gan
m e la lu i
e m p ir is
bah w a
den gan
kan dun gan
p e ru sa h a a n
in d e p e n d e n . P r ic e W a t e r h o u s e (d a la m in v e s t o r ,
la b a
S ia lla g a n
m en gan ggap K o m it e
k o m it e
a u d it
p en gaw asan
yan g dan
p e ru sa h a a n
t id a k
m e m b e n tu k
a u d it
m e m b e r ik a n
p ro se s
in t e g r it a s
p e la p o r a n
p e n g e n d a lia n in t e r n a l d a n p e n g g u n a a n p r in s ip a k u n t a n s i b e r t e r im a u m u m p ro se s
a u d it
m e m ilik i
se ca ra
k e s e lu r u h a n .
kon seku en si
pada
H a s iln y a
la p o r a n
m e n g in d ik a s ik a n
k euan gan
m e m b e n tu k
y a it u
bah w a
a u d it bah w a
k o n t r ib u s i d a la m dan
k r e d ib ilit a s
te rm a s u k
s is t e m
s e rta m e n g a w a s i
adan ya
b e rk u ra n g n y a
yan g
k o m it e
M a c h fo e d z , 2 0 0 6 ) m e n y a ta k a n
m e n in g k a t k a n a ta s
yan g
a k r u a l d is k r e s io n e r
k o m it e
p e n g u k u ra n
a u d it dan
Jurnal Ilmu & Riset Akuntansi Vol. 4 No. 11 (2015)
Pengaruh Mekanisme Corporate Governance... - Azhari, Nurul 6
pen gun gkapan
a k u n ta n s i
yan g
t id a k
te p a t
s e rta
b e rk u ra n g n y a
t in d a k a n
k e cu ra n g a n
m a n a je m e n d a n t in d a k a n ile g a l. D a r i p e n je la s a n a k t iv it a s
e a r n in g s
keuan gan
yan g
te rs e b u t
dapat
m an ag em en t s a la h
yan g
s a tu n y a
d is im p u lk a n s e la n ju t n y a
a d a la h
k u a lit a s
h ip o t e s a k e e m p a t y a n g a k a n d iu ji d a la m H
1
bah w a akan
k o m it e
a u d it d a p a t m e n g u r a n g i
m e m p e n g a ru h i
la b a .
B e rd a sa rk a n
k u a lit a s
u r a ia n
p e la p o r a n
te rs e b u t,
m aka
p e n e lit ia n in i a d a la h :
: K e b e r a d a a n k o m it e a u d it b e r p e n g a r u h t e r h a d a p k u a lit a s la b a .
P e n g a ru h K e p e m ilik a n In stitu sio n a l te rh a d a p K u a lita s L a b a S h ille r d a n P o u n d (d a la m
W id ia t m a ja , 2 0 1 0 ) m e n je la s k a n b a h w a in v e s t o r in t it u s io n a l
m e n g h a b is k a n le b ih b a n y a k w a k t u u n t u k m e la k u k a n a n a lis is in v e s t a s i d a n m e r e k a m e m ilik i akses
a ta s
in fo r m a s i
in s t it u s io n a l a k a n den gan
yan g
t e r la lu
m e la k u k a n
t in d a k a n
m ah al
m o n it o r in g
m a n ip u la s i y a n g
2
se ca ra
d ila k u k a n
h ip o t e s a k e t ig a y a n g a k a n d iu ji d a la m H
Je n s e n keagen an
dan
a d a la h
e t a l. (d a la m
in v e s t o r
t id a k
akan
B e rd a sa rk a n
la in .
m udah
u r a ia n
In v e s to r d ip e r d a y a
d i a ta s ,
m aka
p e n e lit ia n in i a d a la h :
M a n a je ria l te rh a d a p K u a lita s L a b a
M e c k lin g
den gan
(1 9 7 6 )
m e n y a ta k a n
m e n in g k a t k a n
P e n e lit ia n
la b a
W a r fie ld
k e p e m ilik a n
m en em ukan
d is cr e tio n a r y
u n tu k
m e m in im a lk a n
k o n flik
p e ru sa h a a n . R o ss
P a u lu s , 2 0 1 2 ) m e n y a t a k a n b a h w a s e m a k in b e s a r k e p e m ilik a n m a n a je m e n d a la m
k e p e n t in g a n p e m e g a n g s a h a m
h ubun gan
bah w a
k e p e m ilik a n m a n a je r ia l d i d a la m
p e r u s a h a a n m a k a m a n a je m e n a k a n s e m a k in
et
a l.
(d a la m
R a ch m a w a ti
m a n a je r ia l d e n g a n
H a s il
p e n e lit ia n
k e p e m ilik a n
k e d u a y a n g a k a n d iu ji d a la m
b e r u s a h a u n t u k m e n in g k a t k a n k in e r ja n y a d e m i
d a n k e p e n t in g a n n y a s e n d ir i. dan
d is c r e t io n a r y
b u k t i b a h w a k e p e m ilik a n
a ccru a l.
m e n in g k a t k e t ik a
3
e fe k t if d a n
m a n a je r .
bagi
: K e p e m ilik a n in s t it u s io n a l b e r p e n g a r u h t e r h a d a p k u a lit a s la b a .
P e n g a ru h K e p e m ilik a n
H
p e r o le h a n n y a
T r ia t m o k o , a ccru a l d a n
ju g a
m e n g u ji in fo r m a s i
s e c a r a n e g a t if d e n g a n
m e n y a ta k a n
m a n a je r ia l t in g g i. B e r d a s a r k a n
yan g
kan dun gan
m a n a je r ia l b e r h u b u n g a n
te rs e b u t
2007)
bah w a
u r a ia n
k u a lit a s
la b a
d ia t a s , m a k a h ip o t e s a
p e n e lit ia n in i a d a la h :
: K e p e m ilik a n m a n a je r ia l b e r p e n g a r u h t e r h a d a p k u a lit a s la b a .
P e n g a ru h K o m is a ris In d e p e n d e n te rh a d a p K u a lita s L a b a P e n e lit ia n B e a s le y (1 9 9 6 ) m e n y im p u lk a n b a h w a k o m p o s is i d e w a n k o m is a r is d a r i lu a r le b ih e fe k t if u n t u k m e n g u r a n g i k e c u r a n g a n p e la p o r a n k e u a n g a n d a r ip a d a k e h a d ir a n k o m it e a u d it .
P e n e lit ia n
yan g
b e ra sa l
k e cu ra n g a n bah w a lu a r
p e ru sa h a a n
ju m la h
H
4
:
m e n u n ju k k a n p e ru sa h a a n
keuan gan .
yan g
a ta u
u n tu k
a n g g o ta
P ra m u k a ,
d a la m
lu a r
p e la p o r a n
p e ru sa h a a n
d ig u n a k a n
dan
in i ju g a
d a ri
u k u ra n
H a s il
p e n e lit ia n
m en gukur
dew an
dan
te rh a d a p d ia t a s
m e m ilik i k o m p o s is i a n g g o t a
o u t s id e
dew an
bah w a
b e rp e n g a ru h
te rs e b u t
dew an
k a r a k t e r is t ik
k e ce n d e ru n g a n m e m b e r ik a n
k o m is a r is
d ir e k t u r d a p a t m e m p e n g a r u h i k u a lit a s k o m p o s is i
k o m is a r is
2 0 0 7 ).B e rd a s a rk a n
dew an
in d e p e n d e n u r a ia n
k o m is a r is te rh a d a p
d ia t a s ,
m aka
h ip o t e s a
t e r a d in y a s im p u la n
b e ra sa l d a ri
la b a . In d ik a t o r y a n g
in d e p e n d e n
to ta l d e w a n
yan g
k o m is a r is
a d a la h
p re s e n ta s e
k o m is a r is
( U jiy a n t h o
p e rta m a
yan g
akan
d iu ji
p e n e lit ia n in i a d a la h : D e w a n k o m is a r is in d e p e n d e n b e r p e n g a r u h t e r h a d a p k u a lit a s la b a
M E T O D O L O G I P E N E L IT IA N Je n is , P o p u la s i d a n S a m p e l P e n e litia n
P e n e litia n in i m e n g g u n a k a n m e to d e p e n e litia n k u a n tita tif k a r e n a p e n e litia n in i le b ih
m en ekan kan
so sia l. P e n e litia n m en guakkan
p a d a a sp e k p e n g u k u r a n se c a r a o b y e k tif te r h a d a p fe n o m e n a
k u a n tita tif
an gka,
m u la i
te r se b u t, se r ta p e n a m p ila n d ig u n a k a n d a la m
a d a la h d ari
p e n d e k atan
p e n g u m p u la n
p e n e litia n d ata,
yan g
ban yak
p e n a fsir a n
d itu n tu t
te rh ad ap
d ata
h a s i l n y a ( A r i k u n t o , 2 0 0 6 ) . P o p u la s i o b je k p e n e lit ia n y a n g
p e n e lit ia n in i a d a la h p e r u s a h a a n y a n g b e r g e r a k d a la m
b id a n g m a n u fa k t u r
Jurnal Ilmu & Riset Akuntansi Vol. 4 No. 11 (2015)
Pengaruh Mekanisme Corporate Governance... - Azhari, Nurul 7
yan g
te rd a fta r
d a la m
di
B u rsa
p e n e litia n
in i
E fe k
M e to d e
In d o n e s ia
a d a la h
den gan
p e n e n tu an
m en ggun akan
sa m p e l y a n g
m e to d e
d ig u n a k a n
p u rp o siv e
sa m p lin g .
M e n u r u t S u g iy o n o (2 0 1 0 ) p u r p o s iv e s a m p lin g a d a la h te k n ik p e n e n tu a n sa m p e l d e n g a n p e r tim b a n g a n
te rte n tu .
seku n der
b e rsu m b e r
la p o r a n
yan g
keuan gan
Je n is
d a ta
yan g
d ig u n a k a n
d a ri
d a ta
yan g
d ip e r o le h
ta h u n a n
p e ru sa h a a n
d a la m d a ri
m a n u fa k tu r y a n g
p e n e lit ia n
B u rsa
t e la h
E fe k
d ia u d it
in i
a d a la h
In d o n e s ia u n tu k
d a ta
b e ru p a
ta h u n
2009
s a m p a i ta h u n 2 0 1 3 .
V a ria b e l d a n D e fin is i O p e ra s io n a l V a ria b e l V a r ia b e l y a n g d ig u n a k a n d a la m bebas dan
m e ru p a k a n
v a r ia b e l y a n g
p e n e lit ia n in i t e r d ir i a t a s d u a v a r ia b e l y a it u v a r ia b le
m e m p e n g a r u h i v a r ia b e l la in
v a r ia b e l t e r ik a t m e r u p a k a n
yan g
v a r ia b e l y a n g d ip e n g a r u h i o le h
s ifa t n y a
b e r d ir i s e n d ir i
v a r ia b e l la in
y a n g s i fa tn y a
t id a k d a p a t b e r d ir i s e n d ir i. V a ria b e l B e b a s K o m ite A u d it. K o m it e a u d it b e r t u g a s m e m b a n t u d e w a n k o m is a r is u n t u k m e m o n it o r p r o s e s p e la p o r a n
keuan gan
(B ra d b u ry
et
a l.,
o le h
2 0 0 4 ).
m a n a je m e n
In d ik a t o r n y a
u n tu k
m e n in g k a t k a n
m en ggun akan
k r e d ib ilit a s
la p o r a n
v a r ia b e l d u m m y . A p a b ila
keuan gan
p e ru sa h a a n
t e r s e b u t m e m ilik i k o m it e a u d it m a k a d in ila i d e n g a n n ila i 1 d a n n ila i 0 u n t u k s e b a lik n y a . K e p e m ilik a n in d ik a t o r sah am
I n s titu s io n a l. K e p e m ilik a n
p e rs e n ta s e
ju m la h
sah am
in s t it u s io n a l d a p a t d iu k u r d e n g a n
y an g
d im ilik i p ih a k
m en ggun akan
in s t it u s io n a l d a r i s e lu r u h
ju m la h
p e r u s a h a a n (B o e d io n o , 2 0 0 5 ).
R u m u s m e n g h it u n g k e p e m ilik a n in s t it u s io n a l: SI K I=
x 100 % SB
K e te ra n g a n : K I
= K e p e m ilik a n in s t it u s io n a l
SI
= Ju m la h s a h a m
y a n g d im ilik i in s t it u s io n a l
SB
= Ju m la h s a h a m
p e ru sa h a a n y a n g b e re d a r.
K e p e m ilik a n p ih a k P a ra
M a n a je ria l.
m a n a je m e n pem egan g
sebagai
K e p e m ilik a n
d a r i s e lu r u h
sah am
k e p e m ilik a n
yan g
m a n a je r ia l a d a la h
m odal sah am
m em pun yai
m a n a je r ia l
kedudukan
( m a n a g e r ia l
d e n g a n b e s a rn y a p e rs e n ta s e s a h a m
ju m la h
p e ru sa h a a n
o w n e r s h ip ).
di
yan g
k e p e m ilik a n d ik e lo la
m a n a je m e n
K e p e m ilik a n
sah am
o le h
(B o e d io n o , 2 0 0 5 ).
p e ru sa h a a n M a n a je r ia l
d is e b u t d ih it u n g
y a n g d im ilik i o le h p ih a k m a n a je m e n p e r u s a h a a n .
R u m u s m e n g h it u n g k e p e m ilik a n m a n a je r ia l: SM K M =
x 100 % SB
K e te ra n g a n : K M
= K e p e m ilik a n m a n a je r ia l
SM
= T o t a l s a h a m y a n g d im ilik i o le h m a n a je m e n
SB
= Ju m la h s a h a m
D ew an
K o m is a ris
den gan
ca ra
p e ru sa h a a n
p e ru sa h a a n y a n g b e re d a r
In d ep en d en .
m e n g h it u n g te rh a d a p
P ro p o rsi
p re s e n ta s e
s e lu r u h
u k u ra n
dew an
a n g g o ta dew an
k o m is a r is
dew an
k o m is a r is
k o m is a r is p e r u s a h a a n
P ra m u k a , 2 0 0 7 ). R u m u s m e n g h it u n g p r o p o r s i d e w a n k o m is a r is in d e p e n d e n : D K Luar P D K I=
x 100 % U D K
K e te ra n g a n : PD K I
in d e p e n d e n
= P r o p o r s i d e w a n k o m is a r is in d e p e n d e n
yan g
dapat
b e ra sa l
d ih it u n g d a ri
s a m p e l ( U jiy a n t h o
lu a r dan
Jurnal Ilmu & Riset Akuntansi Vol. 4 No. 11 (2015)
Pengaruh Mekanisme Corporate Governance... - Azhari, Nurul 8
D K lu a r
= Ju m la h a n g g o t a d e w a n k o m is a r is b e r a s a l d a r i lu a r p e r u s a h a a n
U D K
= U k u r a n d e w a n k o m is a r is
V a ria b e l T e rik a t (K u a lita s L a b a ) K u a lit a s
la b a
dapat
m e n s e lis ih k a n sebab
to ta l
e s t im a s i
d iu k u r a ccr u a ls
d is cr e tio n a r y
m e la lu i (T A it ) a ccr u a ls
d is cr e tio n a r y
dan
a ccr u a ls
n o n d is cr e tio n a r y
dapat
d iu k u r
yan g
a ccr u a ls
se ca ra
d ih it u n g
(N D A it ).
la n g s u n g
den gan
D A
u n tu k
ca ra
d ig u n a k a n
m e n e n tu k a n
k u a lit a s la b a . S e m a k in k e c il d is c r e tio n a r y a c c r u a ls s e m a k in t in g g i k u a lit a s la b a d a n s e b a lik n y a . D is cr e a tio n a r y
A ccru al
s e b a g a i p r o k s i k u a lit a s
la b a
d ih it u n g
den gan
m en ggun akan
ru m u s
D e c h o w e t a l. (1 9 9 5 ). L a n g k a h - la n g k a h d a la m
m e n g h it u n g d is c r e tio n a r y a c c r u a ls s e b a g a i b e r ik u t :
T A (to ta l a c c ru a l) = N e t in c o m e – C a s h flo w fro m o p e ra tio n … … … ....… .(1 ) T A i t /A t - 1 = α 1 ( 1 /A t - 1 ) + α 2 ( Δ R E V t /A t - 1 ) + α 3 ( P P E t /A t - 1 ) + ε … .… … … .( 2 ) K e te ra n g a n : A t-1
= T o t a l a s e t p e r u s a h a a n i p a d a p e r io d e t
Δ R EV t
= P e r u b a h a n p e n d a p a t a n p e r u s a h a a n i d a la m
PPEt
= A k t iv a t e t a p p e r u s a h a a n i p a d a p e r io d e t
T A it
= T o t a l a k r u a l p e r u s a h a n i p a d a p e r io d e t
α1, α2, α3
= k o e fis ie n r e g r e s i
ε
= e rro r
p e r io d e t
N D A = α 1 ( 1 /A t - 1 ) + α 2 ( Δ R E V t - Δ R E C t ) /A t - 1 ) + α 3 ( P P E t /A t - 1 ) … … … ..( 3 ) K e te ra n g a n : Δ R E C t = P e r u b a h a n p iu t a n g b e r s ih d a la m
p e r io d e t
S e la n ju t n y a d a p a t d ih it u n g n ila i d i s c r e t i o n a r y a c c r u a l s s e b a g a i b e r ik u t : D A C i t = T A t /A t - 1 - N D A … … … … … … … … … … … … … … … … … … … … ...( 4 ) K e te ra n g a n : D A C it
= D is c r e tio n a r y a c c r u a ls p a d a p e r io d e t
N D A
= N o n d is cr e tio n a r y a ccr u a ls
T e k n ik A n a lis is D a ta A n a lis is S ta tis tik D e s k rip tif S t a t is t ik d e s k r ip t if a d a la h d a ta
yan g
d ilih a t
s t a t is t ik y a n g m e m b e r ik a n g a m b a r a n a t a u d e s k r ip s i s u a t u
d a r i r a t a - r a t a , s t a n d a r d e v ia s i, v a r ia n c e , m a k s im u m , m in im u m , k u r t o s is ,
sk ew n es (k e m e n c e n g a n
d is t r ib u s i) . S t a t is t ik d e s k r ip t if m e n d e s k r ip s ik a n d a t a m e n ja d i s e b u a h
in fo r m a s i
je la s
yan g
le b ih
m en gem ban gkan den gan
p e n g u m p u la n
(G h o z a li,
2 0 0 7 ).
dan
m udah
p r o fil p e r u s a h a a n dan
D a ta
yan g
d ip a h a m i.
yan g
p e n in g k a t a n d it e lit i
d a ta ,
akan
S t a t is t ik
d e s k r ip t if
d ig u n a k a n
u n tu k
m e n ja d i s a m p e l s t a t is t ik d e s k r ip t if b e r h u b u n g a n s e rta
p e n y a jia n
d ik e lo m p o k k a n
h a s il p e n in g k a t a n
y a it u
k u a lit a s
la b a ,
te r s e b u t k o m is a r is
in d e p e n d e n , k e p e m ilik a n in s t it u s io n a l, k e p e m ilik a n m a n a je r ia l d a n k o m it e a u d it . U ji A s u m s i K la s ik D a la m
ra n g k a
m en cap ai
t u ju a n
p e n e lit ia n ,
p e n e lit i
m en ggun akan
a n a lis is
re g re si
lin ie r b e r g a n d a u n t u k m e n g e t a h u i a p a k a h h a s il e s t im a s i r e g r e s i y a n g d ila k u k a n b e n a r - b e n a r bebas
d a ri
adan ya
g e ja la
a u t o k o r e la s i,
g e ja la
m u lt ik o lin e a r it a s ,
dan
g e ja la
h e t e r o s k e d a s t is it a s . L a n g k a h - la n g k a h
y a n g d ia m b il u n t u k m e n g a n a lis is d a t a d a la m
p e n e lit ia n in i a d a la h
s e b a g a i b e r ik u t : U ji N o rm a lita s B e r t u ju a n
u n tu k
m e n g u ji a p a k a h
d a la m
r e s id u a l m e m ilik i d is t r ib u s i n o r m a l. P e n e lit ia n
m o d e l r e g r e s i,
( N o r m a l p r o b a b i l i t y p l o t ) u n t u k m e n g u ji k e n o r m a lit a s a n s u m b u d ia g o n a l d a n m e n g ik u t i a r a h g a r is N o r m a lit a s .
v a r ia b e l p e n g g a n g g u
in i m e n g g u n a k a n
a ta u
p lo t p r o b a b ilit a s n o r m a l
jik a p e n y e b a r a n
d a t a (t it ik ) d is e k it a r
d ia g o n a l, m a k a m o d e l r e g r e s i m e m e n u h i a s u m s i
Jurnal Ilmu & Riset Akuntansi Vol. 4 No. 11 (2015)
Pengaruh Mekanisme Corporate Governance... - Azhari, Nurul 9
U ji A u to k o re la s i P e n g u jia n d ilih a t u n tu k
a u t o k o r e la s i d ig u n a k a n
d a ri b e sa rn y a
n ila i D u r b in
m e n g e ta h u i a p a k a h
p a d a p e r io d e t d e n g a n
u n tu k
W a ts o n .
d a la m
m e n g u ji a d a
U ji a u t o k o r e la s i D u r b in
m o d e l r e g r e s i lin ie r a d a
k e s a la h a n
t id a k n y a
a u to
k o r e la s i y a n g
W a ts o n
d im a k s u d k a n
k o r e la s i k e s a la h a n
pen ggan ggu
p a d a p e r io d e t -1 (s e b e lu m n y a ). R e g r e s i y a n g b a ik a d a la h
r e g r e s i y a n g t id a k t e r ja d i a u t o k o r e la s i d i d a la m n y a . U ji M u ltik o lin e a rita s U ji adan ya
m u lt ik o n ie a r it a s
k o r e la s i
a n ta r
m u lt ik o n ie a r it a s T o le r a n c e
a d a la h
m en gukur
b e r t u ju a n
v a r ia b e l
u n tu k
bebas
den gan
m e lih a t
v a r ia b e lit a s
m e n g u ji
(in d e p e n d e n ).
apakah
S a la h
T o le r a n c e
dan
v a r ia b e l in d e p e n d e n
m u lt ik o lin ie r it a s
a d a la h
n ila i T o le r a n c e
<
yan g
0 .1 0
ca ra
V a r ia n ce
o le h v a r ia b e l in d e p e n d e n la in n y a . N ila i c u t o ff y a n g u m u m adan ya
m odel
s a tu
re g re si
In fla s io n
t e r p ilih
d it e m u k a n
m e n d e te k s i
yan g
adan ya
F a cto r
t id a k
(V IF ).
d ije la s k a n
d ig u n a k a n u n t u k m e n u n ju k k a n
a ta u
sam a
den gan
n ila i V IF
>
10.
( G h o z a li, 2 0 0 7 ) U ji H e te ro s k e d a s tis ita s B e r t u ju a n d a ri
r e s id u
u n tu k
d a ri
h o m o s k e d a s t is it a s sebagai
b e r ik u t :
te rte n tu
yan g
m e n g u ji a p a k a h
s a tu dan
(1 )
jik a
Jik a
te ra tu r
h e t e r o s k e d e s t is it a s .
p e n g a m a ta n v a r ia n s
ada
p o la
Jik a
ada
sebu ah
bebeda
d is e b u t s e p e rti
p o la
re g re s i te rd a p a t k e s a m a a n
p e n g a m a ta n
te rte n tu ,
(b e r g e lo m b a n g ,
(2 )
d a la m ke
m e le b a r , yan g
yan g
sam a,
h e t e r o s k e d e s t is it a s . t it ik
yan g
k e m u d ia n
je la s ,
la in
s e rta
ada
–
t it ik
D asar
v a r ia n s d is e b u t
a n a lis is n y a
b e rb e n tu k
m e n y e m p it )
t it ik
m aka
s u a tu
m aka
t e la h
m en yebar
p o la
t e r ja d i
d ia t a s
dan
d ib a w a h O p a d a Y , m a k a t id a k t e r ja d i h e t e r o s k e d e s t is it a s . R e g re a s i L in ie r B e rg a n d a A n a lis is d a t a y a n g d ig u n a k a n re g re si
b e rg a n d a
( m u ltip le
u n t u k m e n g u ji h ip o t e s is d a la m
r e g r e s s io n )
den gan
p e n e lit ia n
m o d e l p e rsa m a a n
in i a d a la h a n a lis is
( U jiy a n t h o
dan
P ra m u k a ,
2 0 0 7 ). R u m u s a t a u m o d e ln y a a d a la h s e b a g a i b e r ik u t : D A = β0+ β1K A + β2K I + β3K M
+ β4D K
+ e
K e te ra n g a n : D A
= D is cr e tio n a r y A ccr u a ls
K A
= K o m it e a u d it
K I
= K e p e m ilik a n in s t it u t io n a l
K M
= K e p e m ilik a n m a n a je r ia l
D K
= P r o p o r s i d e w a n k o m is a r is in d e p e n d e n
β 0
= K o n s ta n ta
β 1– β 4
= K o e fis ie n r e g r e s i
e
= erro r term s
U ji F U ji F p e n g u jia n
d ila k u k a n
den gan
u n tu k
m e n g u ji k e s e s u a ia n
m o d e l r e g r e s i lin ie r b e r g a n d a . K r it e r ia
u ji F a d a la h d e n g a n m e m b a n d in g k a n t in g k a t s ig n if ik a n s i d a r i n ila i F ( α =
0 , 0 5 ) d e n g a n k r it e r ia p e n g u jia n a d a la h s e b a g a i b e r ik u t : ( 1 ) J ik a n ila i s ig n if ik a n s i U ji F > 0 . 0 5 , m e n u n ju k k a n dew an
v a r ia b e l k o m it e a u d it , k e p e m ilik a n in s t it u s io n a l, k e p e m ilik a n m a n a je r ia l, d a n
k o m is a r is
in d e p e n d e n
t id a k
la y a k
d ig u n a k a n
u n tu k
la b a . ( 2 ) J ik a n ila i s ig n if ik a n s i U ji F < 0 . 0 5 , m e n u n ju k k a n in s t it u s io n a l, k e p e m ilik a n
m a n a je r ia l, d a n
dew an
m e n je la s k a n
v a r ia b e l k u a lit a s
v a r ia b e l k o m it e a u d it , k e p e m ilik a n
k o m is a r is
in d e p e n d e n
la y a k d ig u n a k a n
u n t u k m e n je la s k a n v a r ia b e l k u a lit a s la b a . K o e fis ie n D e te rm in a s i (R S q u a re ) S e m a k in
besar R
2
b e r a r t i s e m a k in
d ip a k a i s e b a g a i a la t p r e d ik s i, k a r e n a dapat
d ije la s k a n
o le h
p e ru b a h a n
te p a t p e rs a m a a n
v a r ia s i p e r u b a h a n
v a r ia b e l
bebas
yan g
p e r k ir a a n
r e g r e s i lin e a r t e r s e b u t
v a r ia b e l t e r ik a t y a it u t e r d ir i
d a ri
k u a lit a s la b a
v a r ia b e l k o m it e
k e p e m ilik a n in s t it u s io n a l, k e p e m ilik a n m a n a je r ia l, d a n d e w a n k o m i s a r is in d e p e n d e n .
a u d it ,
Jurnal Ilmu & Riset Akuntansi Vol. 4 No. 11 (2015)
Pengaruh Mekanisme Corporate Governance... - Azhari, Nurul 10
U ji t P e n g u jia n m e n g e ta h u i
d a la m
ada
p e n e lit ia n
t id a k n y a
in i
p e n g a ru h
m en ggun akan
m a s in g
-
u ji
m a s in g
t,
m e ru p a k a n
m odel yan g
p e n g u jia n
d ig u n a k a n
t e r h a d a p v a r ia b e l t e r ik a t p a d a t in g k a t s ig n ifik a n s i y a it u 5 p e r s e n . A d a p u n h ip o t e s a
sebagai
m e n u n ju k k a n m a n a je r ia l, te rh a d a p
b e r ik u t :
dew an
k o m is a r is
dan
m e n u n ju k k a n
Jik a
v a r ia b e l
k u a lit a s
m a n a je r ia l,
(1 )
v a r ia b e l
la b a .
(2 )
v a r ia b e l
dan
s ig n ifik a n s i a u d it ,
in d e p e n d e n
Jik a
n ila i
v a r ia b e l
dew an
n ila i
k o m it e
se ca ra
s ig n ifik a n s i
k o m it e
k o m is a r is
U ji
t
>
k e p e m ilik a n
a u d it ,
p a r s ia l t id a k
U ji
t
<
se ca ra
k r it e r ia p e n g u jia n
m aka
H
in s t it u s io n a l,
m aka
H
s ig n ifik a n
d it o la k
0
in s t it u s io n a l,
p a r s ia l
d it e r im a
0
k e p e m ilik a n
b e rp e n g a ru h
0 .0 5 ,
k e p e m ilik a n
in d e p e n d e n
0 .0 5 ,
gun a
p e n e lit ia n
yan g
k e p e m ilik a n
b e rp e n g a ru h
s ig n ifik a n
t e r h a d a p k u a lit a s la b a .
D A T A
H A S IL P E N E L IT IA N
D A N PEM B A H A SA N
D a ta H a s il P e n e litia n D a ta O u tlie r M e n u ru t m e m ilik i la in n y a
dan
v a r ia b e l
d a ri
m a n u fa k tu r
o b se rv a si
d it e m u k a n
yan g
d a la m
b e n tu k
B e rd a sa rk a n
s a m p e l a d a la h
d a ta
(2 0 0 7 :3 6 )
u n ik
m u n c u l d a la m
k o m b in a s i.
p e ru sa h a a n d ija d ik a n
G h o z a li
k a r a k t e r is t ik
s e la m a
bah w a
d a ta
t e r lih a t
san gat
n ila i e k s t r im m e to d e
p e r io d e
o u tlie r
m e ru p a k a n
b e rb e d a
b a ik
u n tu k
p u r p o s iv e 2 0 0 9 -2 0 1 3
ja u h
kasu s
d a ri
sebu ah
s a m p lin g den gan
d a ta
yan g
v a r ia b e l t u n g g a l a t a u
t e la h to ta l
a ta u
o b s e r v a s i-o b s e r v a s i
d ip e r o le h
21
k e s e lu r u h a n
sam p el
d a ta
yan g
1 0 5 . D a r i 1 0 5 d a t a , t e r d a p a t d a t a y a n g m e m ilik i r e n t a n g y a n g ja u h
la in n y a
s e h in g g a
sam p el seban yak
d a ta
te rs e b u t
1 3 d a ta . D e n g a n
p e r lu
di
d e m ik ia n
o u tlie r .
D a ta
o u tlie r
yan g
t e r s is a 9 2 d a t a p e n g a m a t a n
y a n g d a p a t d ig u n a k a n u n t u k p e n e lit ia n . A n a lis is D e s k rip tif D a ta P e n e litia n Tabel 1 D e s c rip tiv e S ta tis tic s N
M in im u m
M a x im u m
M ea n
S t d . D e v ia t io n
D A
92
-.1 8
.2 9
.0 1 5 8
.0 8 4 3 2
K A
92
0
1
.7 0
.4 6 3
K I
92
2 8 .1 7
9 5 .6 5
6 5 .9 1 2 0
1 9 .6 4 7 2 4
K M
92
.0 2
2 5 .6 1
5 .8 1 8 0
7 .0 0 1 7 5
D K
92
2 5 .0 0
7 5 .0 0
4 0 .6 3 4 7
1 0 .9 5 7 1 9
V a lid N ( lis t w is e )
92
S u m b e r: O utput S P S S
B e rd a sa rk a n d a la m
p e n e lit ia n
p a d a t a b e l d i a t a s d a p a t d ik e t a h u i b a h w a ju m la h d a t a y a n g d ig u n a k a n
in i b e r ju m la h
92
d a t a . B e r ik u t in i m e r u p a k a n
p e n je la s a n
m a s in g - m a s in g
v a r ia b e l. V a ria b e l k u a lita s la b a V a r ia b e l k u a lit a s la b a d iu k u r m e la lu i d is c r e tio n a r y a c c r u a ls (D A ). D is c r e tio n a r y a c c r u a ls (D A )
m e m ilik i
p e n y im p a n g a n
n ila i
m a n u fa k tu r
yan g
A llo y
U n iv e r s a l,
S te e l
t e r t in g g i
ra ta -ra ta
h it u n g
(m ean )
sebesar
0 ,0 1 5 8
den gan
t in g k a t
ra ta -ra ta
s e b e s a r 0 ,0 8 4 3 2 . D is c r e tio n a r y a c c r u a ls t e r e n d a h (m in im u m ) p a d a p e r u s a h a a n t e la h
(m a k s im u m )
lis tin g Tbk
s e la m a
p e e r io d e
s e la m a
p e r io d e
p e r io d e 2010
2 0 0 9 -2 0 1 3
sebesar
p e n g a m a ta n
-0 ,1 8
a d a la h
pada
sedan gkan
y a it u
pada
p e ru sa h a a n d is cr e tio n a r y
p e ru sa h a a n
P r im a a ccr u a ls
PT
P r a h is d a
n ila i
ra ta -ra ta
A n e k a N ia g a , T b k p e r io d e 2 0 0 9 s e b e s a r 0 ,2 9 . V a ria b e l k o m ite a u d it B e rd a sa rk a n h it u n g
h a s il
a n a lis is
(m ea n ) s e b e s a r 0 ,7 0
m a k s im u m
sebesar 0 dan 1.
d e s k r ip t if
den gan
v a r ia b e l
k o m it e
a u d it
m e m ilik i
s t a n d a r d e v ia s i s e b e s a r 0 ,4 6 3 , s e r t a n ila i m in im u m
dan
Jurnal Ilmu & Riset Akuntansi Vol. 4 No. 11 (2015)
Pengaruh Mekanisme Corporate Governance... - Azhari, Nurul 11
V a ria b e l k e p e m ilik a n in s titu s io n a l V a r ia b e l
k e p e m ilik a n
in s t it u s io n a l
m e m ilik i
n ila i
ra ta -ra ta
h it u n g
(m ean )
sebesar
6 5 ,9 1 2 0 d e n g a n t in g k a t r a t a - r a t a p e n y im p a n g a n 1 9 ,6 4 7 2 4 . K e p e m ilik a n in s t it u s io n a l t e r b e s a r (m a k s im u m ) s e la m a p e n g a m a t a n b e rtu ru t-tu ru t
sedan gkan
u n tu k
y a it u
d im ilik i o le h
k e p e m ilik a n
A s t r a O t o p a r t s , T b k p e r io d e 2 0 0 9 - 2 0 1 2
in s t it u s io n a l
te re n d a h
(m in im u m )
sebesar
2 8 ,1 7 d im ilik i o le h In t a n W ija y a In t e r n a t io n a l, T b k s e la m a p e r io d e 2 0 0 9 d a n 2 0 1 0 . V a ria b e l k e p e m ilik a n m a n a je ria l S e lu r u h m a n a je r ia l
p e ru sa h a a n
sam p el
m e n g h a s ilk a n
p e n y im p a n g a n
s e la m a
ra ta -ra ta
p e r io d e
h it u n g
s e b e s a r 7 ,0 0 1 7 5 . K e p e m ilik a n
2 0 0 9 -2 0 1 3
(m ean )
sebesar
pada
v a r ia b e l k e p e m ilik a n
5 ,8 1 8 0
den gan
ra ta -ra ta
m a n a je r ia l t e r e n d a h d e n g a n n ila i 0 , 0 2 d im ilik i
o le h P T L a n g g e n g M a k m u r In d u s t r y , T b k s e la m a p e r io d e 2 0 0 9 - 2 0 1 3 d a n P T In d o fo o d S u k s e s M a k m u r,
Tbk
p e r io d e
2012.
K e p e m ilik a n
m a n a je r ia l t e r t in g g i d e n g a n
n ila i 2 5 ,6 1
d im ilik i
o le h L io n m e s h P r im a , T b k p e r io d e 2 0 1 1 . V a ria b e l k o m is a ris in d e p e n d e n (D K ) D a r i h a s il a n a lis is d e s k r ip t if d a r i v a r ia b e l k o m is a r is in d e p e n d e n ( D K ) m e n u n ju k k a n ra ta -ra ta
h it u n g
1 0 ,9 5 7 1 9 .
K o m is a r is
pada
(m ean )
p e ru sa h a a n
sebesar
in d e p e n d e n
G udan g
4 0 ,6 3 4 7
den gan
t in g k a t
t e r t in g g i (m a k s im u m )
G a ra m , T b k
p e r io d e
ra ta -ra ta
s e la m a
2 0 0 9 -2 0 1 2
p e n y im p a n g a n
p e r io d e
sedan gkan
sebesar
p e n g a m a ta n
u n tu k
y a it u
n ila i t e r e n d a h
s e b e s a r 2 5 d im ilik i o le h P a n a s ia In d o R e s o u r c e s , T b k p e r io d e 2 0 0 9 , 2 0 1 1 , d a n 2 0 1 2 . U ji A s u m s i K la s ik
G am bar 2 G ra fik N o rm a l P -P P lo t S u m b e r: O u tp u t S P S S
B e rd a sa rk a n g a r is
d ia g o n a l
s e h in g g a
dan
gam bar ju g a
d ia t a s ,
dapat
m e n g ik u t i
d a p a t d is im p u lk a n
d ik e t a h u i b a h w a
g a r is
d ia g o n a l
dan
t it ik - t it ik
ju g a
b a h w a n ila i r e s id u a l y a n g d ih a s ilk a n
T abel 2 O n e -S a m p le K o lm o g o ro v -S m irn o v T e s t U n s t a n d a r d iz e d R e s id u a l 92
N o rm a l P a ra m e te rsa
M ea n S t d . D e v ia t io n
M o s t E x t r e m e D if f e r e n c e s
.0 0 0 0 0 0 0 .0 7 8 7 2 8 0 8
A b s o lu t e
.0 6 6
P o s it iv e
.0 6 6
N e g a t iv e
-.0 3 2
K o lm o g o r o v - S m ir n o v Z
.6 3 1
A s y m p . S ig . ( 2 - t a ile d )
.8 2 1
a.
T e s t d is trib u tio n is N o rm a l.
S u m b e r: O u tp u t S P S S
g a r is
d i s e k it a r d ia g o n a l,
d a r i r e g r e s i t e r d is t r ib u s i
s e c a r a n o r m a l.
N
m en yebar
m e n g ik u t i
Jurnal Ilmu & Riset Akuntansi Vol. 4 No. 11 (2015)
Pengaruh Mekanisme Corporate Governance... - Azhari, Nurul 12
B e rd a sa rk a n
t a b e l O n e - S a m p le K o lm o g o r o f- S m ir n o v T e s t y a n g m e n y a t a k a n b a h w a n ila i
K o lm o g o r o v - S m ir n o v a d a la h 0 ,6 3 1 d a n m e m ilik i n ila i s ig n ifik a n s i
( A s y m p . S ig . 2 -ta ile d ) s e b e s a r
0 , 8 2 1 . H a l t e r s e b u t m e n u n ju k k a n b a h w a n ila i s ig n if ik a n s i le b ih b e s a r d a r i 0 , 0 5 ( 0 , 8 2 1 yan g
b e ra rti H
d it e r im a d a n
0
> 0 ,0 5 ),
a r t in y a d a t a r e s id u a l d a r i r e g r e s i t e r s e b u t t e r d is t r i b u s i s e c a r a
n o r m a l. P e n g u jia n A u to k o re la s i H a s il
u ji
P e n e lit ia n
a u t o k o r e la s i
yan g
in i m e n g g u n a k a n
v a r ia b e l in d e p e n d e n
m e n u n ju k k a n
dan
D u r b in -W a t s o n
h it u n g
sebesar
2 ,1 1 1 .
d a t a o b s e r v a s i s e b a n y a k 9 2 d e n g a n 1 v a r ia b e l d e p e n d e n d a n 4
den gan
d e r a ja t k e p e r c a y a a n
t a b le D u r b in - W a t s o n d e n g a n α = 5 % ( 4 - d l)= 2 ,4 2 8 7
n ila i
s e b e s a r 5 % . B e r ik u t in i n ila i d ilih a t d a r i
d a n d ip e r o le h n ila i d l= 1 ,5 7 1 3 d a n d u = 1 ,7 2 6 9 u n t u k n ila i
(4 - d u )= 2 ,2 7 3 1 p a d a t a b e l 8 t e r le t a k d ia n t a r a n ila i d u
d a p a t d is im p u lk a n b a h w a d a la m
dan
(4 - d u ) s e h in g g a
m o d e l r e g r e s i t id a k t e r d a p a t m a s a la h a u t o k o r e la s i.
P e n g u jia n M u ltik o lin e a rita s D e n g a n p e n d e k a t a n in i d is y a r a t k a n b a h w a n ila i V IF t id a k b o le h m e le b ih i 1 0 d a n n ila i t o le r a n s i h a r u s b e r k is a r m e n d e k a t i 1 . N ila i V I F d a n t o le r a n s i d is a jik a n d a la m
ta b e l
di baw ah
in i. T abel 3 U ji M u ltik o lin e a rita s C o e ffic ie n ts
a
C o llin e a r it y S t a t is t ic s M od el T o le r a n c e
V IF
(C o n sta n t)
1
a.
K A
0 .9 3 3
1 .0 7 2
K I
0 .6 6 4
1 .5 0 7
K M
0 .7 2 3
1 .3 8 3
D K
0 .9 3
1 .0 7 5
D e p e n d e n t V a ria b le : D A S u m b e r: O u tp u t
SPSS
B e r d a s a r k a n t a b e l d ia t a s m e n u n ju k k a n h a s il b a h w a n ila i V I F ( v a r i a n c e i n f l a c t i o n f a c t o r ) keem pat s e h in g g a
v a r ia b e l (K A , h al
te rs e b u t
K I,
K M ,
dan
m e n u n ju k k a n
D K )
k u ra n g
bah w a
t id a k
d a ri 1 0 t e r ja d i
dan
n ila i
m a s a la h
to le r a n c e le b ih
d a ri 0 ,1
m u lt ik o lin e a r it a s
pada
m o d e l re g re s i te rs e b u t. P e n g u jia n H e te ro s k e d a s tis ita s D ib a w a h
in i
m e ru p a k a n
h a s il
p e n g u jia n
h e t e r o s k e d a s t is it a s
g r a fik s c a tte r p lo t:
G am bar 3 U ji H e te ro s k e d a s tis ita s S u m b e r: O u tp u t S P S S
den gan
m en ggun akan
Jurnal Ilmu & Riset Akuntansi Vol. 4 No. 11 (2015)
Pengaruh Mekanisme Corporate Governance... - Azhari, Nurul 13
B e r d a s a r k a n g a m b a r d i a t a s d a p a t d ik e t a h u i b a h w a t it ik - t it ik m e n y e b a r d i a t a s d a n d i baw ah
an gka
0
pada
su m bu
Y
dan
t id a k
m e m b e n tu k
p o la
yan g
d is im p u lk a n b a h w a t id a k t e r ja d i m a s a la h h e t e r o s k e d a s t is it a s d a la m
je la s .
S e h in g g a
dapat
m o d e l r e g r e s i.
A n a lis is R e g re s i L in ie r B e rg a n d a P e r h it u n g a n
a n a lis is
r e g r e s i lin ie r
b e rg a n d a
in i d ila k u k a n
den gan
m en ggun akan
s o ftw a r e
d a la m
sebagai
SPSS 16. P e r s a m a a n r e g r e s i lin ie r b e r g a n d a d ip e r o le h s e b a g a i b e r ik u t : D A = -0 ,0 2 6 + 0 ,0 2 6 K A + 0 ,0 0 1 K I – 0 ,0 0 3 K M 2
K o e fis ie n D e te rm in a s i (R B e rd a sa rk a n
o u tp u t
+ 0 ,0 0 0 D K + e
)
SPSS
16
h a s il
k o e fis ie n
d e t e r m in a s i d is a jik a n
ta b e l 8
b e r ik u t : T abel 4 H a s il U ji K o e fis ie n D e te rm in a s i M od e l S u m m a ry
M od el
R
1
A d ju ste d R
S td . E rro r o f th e
S qu a re
E s t im a t e
R S qu a re .3 5 8
a
b
.1 2 8
.0 8 8
.0 8 0 5 2
a . P re d ic to rs : (C o n s ta n t), D K , K M , K A , K I b . D e p e n d e n t V a ria b le : D A S u m b e r: O u tp u t S P S S
B e rd a sa rk a n t e r le t a k
pada
in d e p e n d e n
ta b e l d i a ta s
k o lo m yan g
m a n a je r ia l, d a n
A d ju s te d
t e r d ir i
dapat R
d a ri
d ik e t a h u i b a h w a
S qu are k o m it e
k o m is a r is in d e p e n d e n
sebesar a u d it ,
n ila i k o e fis ie n
0 ,0 8 8 .
A r t in y a
k e p e m ilik a n
d a p a t m e n je la s k a n
d e t e r m in a s i y a n g
sebesar
8 ,8 %
in s t it u s io n a l,
v a r ia b e l d e p e n d e n
la b a . S e d a n g k a n s is a n y a d ije la s k a n o le h v a ia b e l la in d i lu a r v a r ia b e l d a la m
v a r ia b e l
k e p e m ilik a n y a it u
k u a lit a s
p e n e lit ia n .
U ji F U ji F d ila k u k a n d e n g a n c a r a m e m b a n d in g k a n n ila i p r o b a b ilit a s d e n g a n α y a n g s u d a h d it e n t u k a n
y a it u
5%
a ta u
0 ,0 5 .
H a s il d a r i o u t p u t S P S S
16
u n tu k
u ji F
t e r s a ji d a la m
ta b e l
b e r ik u t in i:
T abel 5 U ji g o o d n e s s o f fit A N O V A
b
M ea n M od el
Sum
1
of S qu a res
df
S qu a re
R e g r e s s io n
.0 8 3
4
.0 2 1
R e s id u a l
.5 6 4
87
.0 0 6
T o ta l
.6 4 7
91
F
S ig . 3 .2 0 1
.0 1 7
a
a . P re d ic to rs : (C o n s ta n t), D K , K M , K A , K I b . D e p e n d e n t V a ria b le : D A S u m b e r: O u tp u t S P S S
B e rd a sa rk a n p r o b a b ilit a s a t a u (0 ,0 5 ),
s e h in g g a
t a b e l d i a t a s d a p a t d ik e t a h i b a h w a n ila i F h it u n g s e b e s a r
n ila i s ig n if ik a n s i 0 , 0 1 7 . K a r e n a n ila i s ig n if ik a n s in y a ja u h dapat
m e m e n u h i k r it e r ia
d is im p u lk a n
fit (s e s u a i) d a n
bah w a
p e r m o d e la n
d a p a t d ig u n a k a n
re g re si
yan g
3 ,2 0 1 d e n g a n
le b ih k e c il d a r i α d ib a n g u n
t e la h
u n t u k m e m p r e d ik s i k u a lit a s la b a a t a u
d a p a t d ik a t a k a n b a h w a k o m it e a u d it , k e p e m ilik a n in s t it u s io n a l, k e p e m ilik a n m a n a je r ia l, d a n k o m is a r is in d e p e n d e n s e c a r a b e r s a m a -s a m a b e r p e n g a r u h t e r h a d a p k u a lit a s l a b a . U ji t U ji s t a t is t ik in d iv id u
t
b e rp e n g a ru h
m e n u n ju k k a n te rh a d a p
se b e ra p a
ja u h
v a r ia b e l in d e p e n d e n
se ca ra
p a r s ia l a t a u
v a r ia b e l d e p e n d e n . H a l t e r s e b u t m e n g id e n t ifik a s i a p a k a h
K A , K I, K M , d a n D K s e c a r a p a r s ia l b e r p e n g a r u h t e r h a d a p D A .
Jurnal Ilmu & Riset Akuntansi Vol. 4 No. 11 (2015)
Pengaruh Mekanisme Corporate Governance... - Azhari, Nurul 14
D a r i h a s il p e n g u jia n S P S S 1 6 t e r s a ji d a la m
t a b e l b e r ik u t in i: T abel 6 U ji t
C o e ffic ie n ts M od el
1
U n s t a n d a r d iz e d
S t a n d a r d iz e d
C o e f f ic ie n t s
C o e f f ic ie n t s
T
S ig .
-.5 6 4
.5 7 4
B
S td . E rro r
(C o n sta n t)
-.0 2 6
.0 4 6
B e ta
K A
.0 2 6
.0 1 9
.1 4 2
1 .3 7 0
.1 7 4
K I
.0 0 1
.0 0 1
.1 2 0
.9 8 0
.3 3 0
K M
-.0 0 3
.0 0 1
-.2 2 6
-1 .9 2 1
.0 4 8
D K
.0 0 0
.0 0 1
.0 1 8
.1 7 5
.8 6 2
a . D e p e n d e n t V a ria b le : D A S u m b e r: O u tp u t S P S S
B e rd a sa rk a n p e n g a ru h
h a s il
a n ta ra
d a ri
u ji
t
dapat
v a r ia b e l in d e p e n d e n
d ilih a t
d a la m
te rh a d a p
ta b e l
6
yan g
m e n u n ju k k a n
v a r ia b e l d e p e n d e n
secar a
bah w a
in d iv id u
dapat
d iu r a ik a n s e b a g a i b e r ik u t : P e n g a ru h k o m ite a u d it te rh a d a p k u a lita s la b a N ila i k o m it e s ig n ifik a n s i
0 ,1 7 4 .
m e n u n ju k k a n d is im p u lk a n
a u d it t e r h a d a p
D en gan
bah w a
k o m it e
bah w a
k u a lit a s la b a a d a la h
t in g k a t
s ig n ifik a n s i y a n g
a u d it t id a k
h ip o t e s is
b e rp e n g a ru h
p e rta m a
(H
1)
y a it u
t h it u n g s e b e s a r 1 ,3 7 0 d a n
le b ih
besar
te rh a d a p
k o m it e
d a ri α = 0 ,0 5 k u a lit a s
a u d it
t in g k a t
h a l te rs e b u t
la b a , m a k a
b e rp e n g a ru h
dapat
te rh a d a p
k u a lit a s la b a d it o la k . P e n g a ru h k e p e m ilik a n in s titu s io n a l te rh a d a p k u a lita s la b a B e rd a sa rk a n
h a s il
in s t it u s io n a l t e r h a d a p 0 ,3 3 0 .
H al
te rs e b u t
te rh a d a p
k u a lit a s
h ip o t e s is
kedua
k u a lit a s
d a ri
la b a
2
)
d ik e t a h u i
k e p e m ilik a n
t in g k a t
k e p e m ilik a n
dapat
bah w a
t h it u n g s e b e s a r 0 ,0 9 8 0 d a n
bah w a
d ik a r e n a k a n
y a it u
ta b e l
a d a la h
m e n u n ju k k a n
la b a
(H
p e n g u jia n
s ig n ifik a n s i
le b ih
k e p e m ilik a n
t in g k a t
in s t it u s io n a l
t id a k
besar
in s t it u s io n a l b e r p e n g a r u h
n ila i
d a ri
s ig n ifik a n s i
b e rp e n g a ru h α = 0 ,0 5 .
te rh a d a p
M aka
k u a lit a s
la b a
d it o la k . P e n g a ru h k e p e m ilik a n m a n a je ria l te rh a d a p k u a lita s la b a H a s il
p e n g u jia n
m e m p e n g a ru h i yan g
m e n g h a s ilk a n
D en gan
d e m ik ia n ,
s ig n ifik a n
h ip o t e s is
k u a lit a s
la b a
n ila i
t
t in g k a t
m e n u n ju k k a n
p e ru sa h a a n
h it u n g
yan g
sebesar
bah w a
-1 ,9 2 1
s ig n ifik a n s i y a n g
k u a t . H a l t e r s e b u t m e n u n ju k k a n
v a r ia b e l
d ip r o k s ik a n dan
le b ih
k e p e m ilik a n
den gan
t in g k a t
s ig n ifik a n s i
k e c il d a r i α = 0 ,0 5
bah w a
h ip o t e s is
m a n a je r ia l
d is cr e tio n a r y sebesar
m en un ukkan
k e t ig a (H
) y a it u
3
a ccr u a ls 0 ,0 4 8 . t in g k a t
k e p e m ilik a n
m a n a je r ia l b e r p e n g a r u h t e r h a d a p k u a lit a s la b a d it e r im a . P e n g a ru h k o m is a ris in d e p e n d e n te rh a d a p k u a lita s la b a B e rd a sa rk a n in d e p e d e n
te rh a d a p
0 ,8 6 2 . D e n g a n bah w a
h a s il
k u a lit a s
la b a
d a ri
in d e p e n d e n
bah w a
h ip o t e s is
ta b e l
a d a la h
t in g k a t s ig n ifik a n s i y a n g
k o m is a r is
d is im p u lk a n
p e n g u jia n
t id a k
t
dapat
h it u n g
le b ih
sebesar
(H
4
0 ,1 7 5
bah w a dan
n ila i
t in g k a t
k o m is a r is s ig n ifik a n s i
b e s a r d a r i α = 0 , 0 5 h a l t e r s e b u t m e n u n ju k k a n
b e rp e n g a ru h
keem pat
d ik e t a h u i
)
y a it u
te rh a d a p
k u a lit a s
k o m is a r is
la b a ,
in d e p e n d e n
m aka
dapat
b e rp e n g a ru h
t e r h a d a p k u a lit a s la b a d it o la k .
P em b ah asan H a s il p e n e lit ia n in i m e n u n ju k k a n b a h w a k e p e m ilik a n k o m it e a u d it p a d a p e r u s a h a a n m a n u fa k tu r
yan g
te rd a fta r d i B u rs a
k u a lit a s
la b a .
h a n e fa h
(2 0 1 2 ) y a n g m e n y a ta k a n
b e rp e n g a ru h
H a s il
p e n e lit ia n
te rh a d a p
in i
E fe k
In d o n e s ia
m en duk un g
t id a k
p e n e lit ia n
m e m p u n y a i p e n g a ru h s e b e lu m n y a
b a h w a b e s a r k e c iln y a u k u r a n
m a n a je m e n
la b a .
H al
in i
t e r ja d i
o le h
te rh a d a p
A lk d a e i
dan
k o m it e a u d it t e r b u k t i t id a k k a re n a
t u ju a n
p e ru sa h a a n
Jurnal Ilmu & Riset Akuntansi Vol. 4 No. 11 (2015)
Pengaruh Mekanisme Corporate Governance... - Azhari, Nurul 15
m e m b e n t u k k o m it e a u d it h a n y a s e k e d a r u n t u k m e m e n u h i p e r a t u r a n b a p e p a m
y a n g b e r s ifa t
m a n d a to ry . D i In d o n e s ia t e r d a p a t p e r a t u r a n b a p e p a m
y a n g b e r s if a t m a n d a t o r y , s e h in g g a t u ju a n
p e r u s a h a a n m e m b e n t u k k o m it e a d u it u t a m a n y a h a n y a u n t u k m e m e n u h i s e h in g g a t e r h in d a r d a r i s a n k s i h u k u m a n . O le h k a r e n a it u , k in e r ja d a r i k o m it e a u d it k u r a n g e f e k t if d a n o p t im a l d a la m
m en gem ban gkan
m a n a je m e n
dan
m e n e ra p k a
p ro se s
p en gaw asan
u n tu k
m e m in im a lis ir p r a k t ik
la b a . M e n u r u t e ffe n d i (2 0 0 9 :3 4 ), k e b e r a d a a n k o m it e a u d it d i p e r u s a h a a n
p u b lik
s a m p a i s a a t in i m a s ih s e k e d a r u n t u k m e m e n u h i k e t e n t u a n p ih a k r e g u la t o r ( p e m e r in t a h ) s a ja . H al
in i
d it u n ju k k a n
s e b a g ia n le b ih
besar bu kan
d id a s a r k a n
a u d it s e m a c a m k e c iln y a
den gan
p e n u n ju k k a n
d id a s a r k a n
pada
a ta s
k e d e k a ta n
ju m la h
k o m it e
k o m it e
k o m p e te n s i d a n
den gan
in i s u lit d ih a r a p k a n
a n g g o ta
dew an
a u d it
k a p a b ilit a s
k o m is a r is
di
p e ru sa h a a n
p u b lik
y a n g m e m a d a i, n a m u n
p e ru sa h a a n .
A n g g o ta
k o m it e
u n t u k d a p a t b e k e r ja s e c a r a p r o f e s io n a l, s e h in g g a b e s a r
a u d it d i p e r u s a h a a n
t id a k
akan
b is a m e m b a t a s i t e r ja d in y a p r a k t ik
m a n a je m e n la b a . H a s il pada
p e n e lit ia n
p e ru sa h a a n
m em pun yai S u s a n ti
et
p e n g a ru h a l.
(2 0 1 0 )
in s t it u s io n a l t id a k t id a k
in i
m e n u n ju k k a n
in d u s t r i
te rh a d a p dan
b e rp e n g a ru h
in v e s t o r
e a r n in g s
b e rp e ra n
t e r ja d in y a sebagai
u n tu k
T e ta p i
in v e s to r s
m e m o n it o r
dan
p e ru sa h a a n ,
s e rta
m e m b a ta s i
k e b ija k a n
yan g
le b ih
bah w a
d a la m
d ik a r e n a k a n
yan g
d a la m le b ih
in t it u s io n a l t id a k d a p a t se h a ru sn y a
m e n g o n tro l in t it u s io n a l
k e g ia t a n t id a k
in s t it u s io n a l
ban yak
kem am puan
m a n a je r a g a r le b ih
m a n a je m e n
te m u a n
k e p e m ilik a n
te rs e b u t
in v e s t o r
le b ih
t id a k
s e h in g g a
besar
k e p e m ilik a n
m e m ilik i
s e m e n ta ra
m en du kun g
p ih a k m a n a je m e n
m e n d is p lin k a n
s e b a g a i p e m ilik
in i
in s t it u s io n a l
In d o n e s ia
k u a lit a s la b a . K e p e m ilik a n
yan g
in i
E fe k
m e n y a ta k a n
sah am
yan g
u n tu k
b e rp e ra n
H al
in v e s t o r
B u rsa
p e n e lit ia n
k e n y a ta a n n y a ,
la b a .
k e h a d ir a n di
yan g
te rh a d a p
k e k u a ta n
pada
m a n a je m e n
s o p h is tica te d
H a s il
(2 0 1 3 )
K e p e m ilik a n
k e s e m p a ta n
m e la in k a n
la b a .
a l.
den gan
te rd a fta r
m e n g e n d a lik a n
m em pun yai
p e ru sa h a a n .
m e m b a ta s i
et
s ig n ifik a n
m an ag em en t.
in s t it u s io n a l
o p e r a s io n a l
yan g
k u a lit a s
Y u s h it a
m e m ilik i k e m a m p u a n
m e n g u ra n g i
bah w a
m a n u fa k tu r
te rfo k u s
m e la k u k a n
b is a t id a k dan
pada
n ila i
m a n ip u la s i
la b a ,
t e r fo k u s p a d a c u r r e n t e a r n in g s
(Y a n g e t a l., 2 0 0 9 ) K e p e m ilik a n d is cr e tio n a r y
m a n a je r ia l a ccr u a ls
s ig n ifik a n
den gan
n ila i
te rh a d a p
k u a lit a s
k o e fis ie n
β
la b a
n e g a t if.
yan g
K o e fis ie n
d iu k u r
b e rd a sa rk a n
v a r ia b e l
k e p e m ilik a n
m a n a je r ia l d i a t a s m e n g h a s ilk a n t a n d a n e g a t if . T a n d a t e r s e b u t m e n u n ju k k a n b a h w a s e m a k in t in g g i
k e p e m ilik a n
m e n g h a s ilk a n k e p e m ilik a n
m a n a je r ia l
k u a lit a s
la b a
m aka
yan g
d is cr e tio n a r y
s e m a k in
m a n a je r ia l m a k a s e m a k in
b a ik ,
a ccr u a ls
b e g it u
s e m a k in
p u la
m e n u ru n
s e b a lik n y a
s e h in g g a
s e m a k in
re n d a h
t in g g i n ila i d i c r e t i o n a r y a c c r u a l s d a n it u m e n u n ju k k a n
k u a lit a s la b a y a n g m e n u r u n . H a s il p e n e lit ia n in i s e ja la n d e n g a n p e n e lit ia n s e b e lu m n y a y a n g d ila k u k a n
o le h
S ia lla g a n
m a n a je r ia l
m aka
d is cr e tio n a r y
m e n y a ta k a n m a n a je m e n ju g a
bah w a akan
m en dukun g
m e n y a ta k a n K e p e m ilik a n
dan
M a c h fo e d z
a ccr u a ls
s e m a k in
(2 0 0 6 )
s e m a k in
besar
bah w a
re n d a h .
k e p e m ilik a n
m a n a je m e n
c e n d e r u n g u n t u k b e r u s a h a m e n in g k a t k a n p e n e lit ia n
bah w a
s e b e lu m n y a
k e p e m ilik a n
yan g
m a n a je r ia l
s e m a k in
d ila k u k a n
k e p e m ilik a n
d a la m
te o ri y a n g
p e ru sa h a a n
m aka
k in e r ja n y a . H a s il p e n e lit ia n in i o le h
S u s a n ti
b e rp e n g a ru h
m a n a je r ia l d a p a t m e n g u r a n g i d o r o n g a n
besar
H a l in i s e s u a i d e n g a n
et
te rh a d a p
u n t u k t in d a k a n
a l.
(2 0 1 0 )
k u a lit a s
yan g la b a .
m a n ip u la s i, s e h in g g a
la b a y a n g d ila p o r k a n m e r e p lik a s ik a n k e a d a a n e k o n o m i d a r i p e r u s a h a a n y a n g b e r s a n g k u t a n . H a s il p e n e lit ia n et
a l.
(2 0 1 0 )
yan g
in i m e n d u k u n g p e n e lit ia n s e b e lu m n y a y a n g d ila k u k a n o le h S u s a n t i
m e n y a ta k a n
bah w a
k o m is a r is
in d e p e n d e n
t id a k
b e rp e n g a ru h
te rh a d a p
k u a lit a s la b a . H a s il p e n e lit ia n m e n u n ju k k a n b a h w a u k u r a n d e w a n k o m is a r is t id a k m e m ilik i kem am puan e a r n in g s b u k a n la h
u n tu k
m e n g e n d a lik a n
m an a g em en t.
H al
in i
dapat
m e n ja d i f a k t o r p e n e n t u
p e ru sa h a a n . A k a n
p ih a k
m a n a je m e n
d ije la s k a n
bah w a
s e h in g g a besar
t id a k
k e c iln y a
u t a m a d a r i e fe k t iv it a s p e n g a w a s a n
dapat
m e n g u ra n g i
dew an
te rh a d a p
k o m is a r is m a n a je m e n
t e t a p i e fe k t iv it a s m e k a n is m e p e n g e n d a lia n t e r g a n t u n g p a d a n ila i, n o r m a
Jurnal Ilmu & Riset Akuntansi Vol. 4 No. 11 (2015)
Pengaruh Mekanisme Corporate Governance... - Azhari, Nurul 16
dan
k e p e rca y a a n
y a n g d it e r im a d a la m
a k t iv it a s p e n g e n d a lia n (2 0 0 9 :2 0 0 ) , d a la m k e b e rad aan
yan g
san gat
k u a t,
cu ku p
te rh a d a p
d i p e r u s a h a a n , d ih a r a p k a n
in d e p e n d e n
ada
te rd a p a t
t id a k
h a n ya
d ir e k s i
k e ce n d e ru n g a n
yag
m em adai kepada
m en gh am bat
k in e r ja
en ggan
sebagai
bah w a
m em bagi
k o m is a r is
k o m is a r is
pada
p e n g h a rg a a n ,
h ubun gan
dan
in d e p e n d e n s i
m e ru p a k a n
in t e g r it a s
p e ru sa h a n
(Je n n in g s , 2 0 0 5 ) M e n u r u t e ffe n d i
p r a k t ik
kedudukan
w ew en an g
in d e p e n d e n . S e la in
in d e p e n d e n
bah w a
p e le n g k a p ,
y a it u
d ir e k s i
s e rta
t id a k
it u , t e r d a p a t
m a s ih
le m a h n y a
in t e g r it a s m e r e k a . H a l in i t e r ja d i k a r e n a p e n g a n g k a t a n k o m is a r is b ia s a n y a
d id a s a r k a n
padah al
bah kan
in fo r m a s i y a n g
yan g
k o m p e te n s i d a n h a ru s
im p le m e n t a s i G C G
k o m is a r is
in i t e r ja d i d i I n d o n e s ia ,
m e m b e r ik a n k e n d a la
den gan
te rm a s u k
m a n a je m e n
d ir i k o m is a r is m e le k a t t a n g g u n g ja w a b s e c a r a h u k u m . N a m u n d a la m
s e la m a
b ia s a n y a
k a it a n n y a
k o m is a r is
k a r e n a d a la m
s u a t u o r g a n is a s i s e r t a p e r a n d e w a n k o m is a r is d a la m
(m o n it o r in g ) t e r h a d a p
m a s ih
b e lu m
o p e r a s io n a l
b is a
b e k e r ja
p e ru sa h a a n
se ca ra
dan
k e lu a r g a , h al
e fe k t if
te rb u k ti
a ta u
yan g d a la m
t id a k
h ubun gan
d e k a t la in n y a ,
fu d a m e n ta l a g a r
G C G
m e n in g k a t k a n
b e rp e n g a ru h
d a la m
p en gaw asan
s e rta
t id a k
b is a
m e m in im a lis ir p r a k t ik m a n a je m e n la b a . D ew an
k o m is a r is
in d e p e n d e n
t id a k
b e rp e n g a ru h
s ig n ifik a n
te rh a d a p
p r a k t ik
m a n a je m e n la b a , h a l in i d ik a r e n a k a n k o m is a r is in d e p e n d e n d it u n ju k o le h p e m e g a n g s a h a m m a y o r it a s
d a la m
p e ru sa h a n
R U PS
dapat
s e h in g g a
m e la k u k a n
a p a b ila
t id a k
p e n g g a n t ia n .
s e ja la n
Ja d i,
den gan
pada
k e p u tu s a n
p r a k t ik n y a
p e m ilik
m e s k ip u n
m aka
k o m p o s is i
d e w a n k o m is a r is in d e p e n d e n p a d a p e r u s a h a a n r e la t if b e s a r , t e t a p i m e r e k a t id a k b is a b e n a r ben ar
in d e p e n d e n
d a la m
p e r a t u r a n / k e b ija k a n p e la k s a a n
G ood
m e la k s a n a k a n
d a ri
pem egan g
C o rp o ra te
G ov ern an ce
tu g a s
sah am se ca ra
dan
p en gaw asan n ya
m a y o r it a s ,
s e h in g g a
o p t im a l u n t u k
k a re n a
t id a k
te rb a ta s
b is a
o le h
m e n d o ro n g
m e m b a t a s i p r a k t ik
m a n a je m e n
la b a .
S IM P U L A N
D A N
SA R A N
S im p u la n P e n e lit ia n
in i m e n g h a s ilk a n
n ila i a d ju s t e d R
k o n s t r ib u s i d a i K A , K I, K M , d a n D K t e r h a d a p D A
squ a re s e b e s a r 0 ,0 8 8 y a n g b e ra rti b a h w a a d a la h s e b e s a r 8 ,8 % . S e d a n g k a n s is a n y a
d ije la s k a n o le h v a r ia b e l la in y a n g t id a k d im a s u k k a n k e d a la m
m o d e l r e g r e s i y a n g d ib a n g u n
d a la m
h it u n g
p e n e lit ia n .
p r o b a b ilit a s
a ta u
H a s il
u ji
goodn ess
of
fit
n ila i s ig n ifik a n s i 0 ,0 1 7
d ip e r o le h
(le b ih
n ila i F
sebesar
3 ,2 0 1
den gan
k e c il d a r i 0 , 0 5 ) . H a l t e r s e b u t m e n u n ju k k a n
b a h w a p e r m o d e la n r e g r e s i y a n g d ib a n g u n d i d a la m
p e n e lit ia n t e la h m e m e n u h i k r it e r ia fit .
V a r ia b e l k o m it e a u d it t id a k b e r p e n g a r u h t e r h a d a p k u a lit a s la b a d e n g a n n ila i t h it u n g s e b e s a r 1 , 3 7 0 d a n t in g k a t s ig n if ik a n s i 0 , 1 7 4 ( le b ih b e s a r d a r i 0 , 0 5 ) . H a t t e r s e b u t m e n u n ju k k a n b a h w a k o m it e a u d it t id a k b e r p e n g a r u h s ig n ifik a n t e r h a d a p k u a lit a s la b a . S e h n g g a h ip o t e s is p e rta m a d it o la k .
(H
)
1
yan g
M aka
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h it u n g
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le b ih
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yan g d a la m
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le b ih
m e la k u k a n te rfo k u s
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d a ri α = 0 ,0 5 ).
b e rp e n g a ru h
ban yak
agar
t e r h a d a p k u a lit a s la b a d e n g a n
besar
k e p e m ilik a n
H a l in i d ik a r e n a k a n
m e m ilik i
m a n a je m e n
s e m e n ta ra
(le b ih
in s t it u s io n a l t id a k
la b a .
m e n d is ip lin k a n
m e m b a t a s i k e b ija k a n p e m ilik
s ig n ifik a n s i 0 , 3 3 0
k e p e m ilik a n
b e rp e n g a ru h
m e m o n it o r
in s t it u s io n a l t id a k b e r p e n g a r u h
t in g k a t
m e n u n ju k k a n
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k o m it e
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te rh a d a p
k o m it e
V a r ia b e l k e p e m ilik a n n ila i t
bah w a
d is im p u lk a n
t id a k b e r p e n g a r u h
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m e n y a ta k a n
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dan
pada
cu rren t
k e p u tu s a n
e a r n in g s
dan
t id a k
b e rp e ra n
la b a . akan
sebagai
k e s e m p a ta n
u n tu k
n ila i p e r u s a h a a n , s e r t a
m a n ip u la s i la b a ,
pada
k u a lit a s
in s t it u s io n a l
in v e s t o r t id a k
te rfo k u s
H a l te rs e b u t
m e la in k a n (Y a n g
b e k e r ja
le b ih
et
b e rp e ra n a l.,
g ia t
2 0 0 9 ). u n tu k
Jurnal Ilmu & Riset Akuntansi Vol. 4 No. 11 (2015)
Pengaruh Mekanisme Corporate Governance... - Azhari, Nurul 17
m e m p e r o le h
p r o fit . K e p e m ilik a n
m a n a je m e n d a la m
V a r ia b e l k e p e m ilik a n sebesar
-1 ,9 2 1
m e n u n ju k k a n
in s t it u s io n a l m e r u p a k a n p ih a k y a n g m e n g ik u t i k e p u t u s a n
m e n g a m b i l k e p u t u s a n k in e r ja p e r u s a h a n t e r m a s u k m a n a je m e n la b a .
dan
t in g k a t
m a n a je r ia l m e m p e n g a r u h i k u a lit a s s ig ifik a n s i s e b e s a r
b a h w a k e p e m ilik a n
0 ,0 4 8
(le b ih
la b a d e n g a n
n ila i t h it u n g
k e c il d a r i α = 0 ,0 5 ). H a l t e r s e b u t
m a n a je r ia l b e r p e n g a r u h s ig n if ik a n t e r h a d a p k u a lit a s la b a
y a n g d iu k u r d e n g a n d is c r e tio n a r y a c c r u a ls d e n g a n a r a h n e g a t if. S e h in g g a h ip o t e s is k e t ig a (H yan g
m e n y a ta k a n
bah w a
k e p e m ilik a n
d it e r im a . S e h in g g a d a p a t d is im p u lk a n d is cr e tio n a r y
a ccr u a ls
b a ik , b e g it u
p u la
s e m a k in
b e rp e n g a ru h
b a h w a s e m a k in
m e n u ru n
s e b a lik n y a
m a n a je r ia l
s e m a k in
t in g g i k e p e m ilik a n
s e h in g g a m e n g h a s ilk a n re n d a h
te rh a d a p
k e p e m ilik a n
k u a lit a s
3
)
la b a
m a n a je r ia l m a k a
k u a lit a s la b a y a n g s e m a k in
m a n a je r ia l m a k a s e m a k in
t in g g i
n ila i d i c r e t i o n a r y a c c r u a l s d a n it u m e n u n ju k k a n k u a lit a s la b a y a n g m e n u r u n . S aran K e te rb a ta s a n p e r io d e
p e n e lit ia n
m e m p e r lu a s
d i d a la m s e la m a
o b je k
p e n e lit ia n
5
ta h u n .
p e n e lit ia n
in i y a it u
U n tu k
s e p e rti
sa m p e l p e ru sa h a a n
p e n e lit i
yan g
m en am bah
m a n u fa k tu r d e n g a n
s e la n ju t n y a
ju m la h
d ih a r a p k a n
dapat
s e h in g g a
dapat
sam p el
m e n g g e n e r a lis a s i s e m u a je n is in d u s t r i. D e n g a n ju m la h s a m p e l y a n g le b ih b e s a r d a n p e r io d e p e n g a m a ta n
yan g
r e la t if
la m a
d ih a r a p k a n
dapat
m e m b e r ik a n
h a s il y a n g
le b ih
v a lid
dan
m e n d e k a t i k o n d is i y a n g s e b e r n a r n y a . S e la in it u , N ila i a d ju s te d R s q u a r e p a d a p e n e lit ia n in i m e n g h a s ilk a n n ila i s e b e s a r 0 ,0 8 8 a ta u
8 , 8 % . H a l t e r s e b u t m e n u n ju k k a n
v a r ia b e l d e p e n d e n
p a d a p e n e lit ia n
in i le b ih
ban yak
d ije la s k a n o le h v a r ia b e l la in d i lu a r p e m o d e la n r e g r e s i p e n e lit ia n . U n t u k it u d is a r a n k a n p a d a p e n e lit ia n
s e la n ju t n y a
O p p o r tu n ity p e n e lit ia n
S et in i
s e la n ju t n y a m is a l
(IO S ),
dan
m en am bah
p r e k d it a b ilit a s
s e h in g g a
akan
a ccr u a ls
in d ik a t o r la in p e r s is t e n s i
d ip e r o le h
p e n g a ru h
la in
k e lu a r g a .
d is cr e tio n a r y
m en ggun akan
m en gen ai
v a r ia b e l
k e p e m ilik a n
m en ggun akan
dapat m en ggun akan
den gan
p e n je la s a n
dapat
U n tu k
u n tu k
yan g
le b ih
w o r k in g
la b a
d a la m
p e n e lit ia n
la b a p e r u s a h a a n
d a la m
te rh a d a p
In v estm en
u n tu k
ca p ita l
b e r v a r ia n s i
te rs e b u t
a u d it ,
k u a lit a s
d ih a r a p k a n
m e n g u k u r k u a lit a s
a bn orm al
v a r ia b e l- v a r ia b e l
k u a lit a s
in d ik a t o r
s e h in g g a
la b a ,
h a s il
s e p e rti
a ccr u a ls ,
dan
m e m b e r ik a n
k u a lit a s
la b a
yan g
d im ilik i o le h p e r u s a h a a n .
D A FT A R A lk d a e i,
PU ST A K A H .
dan
M .
H a n e fa h .
m a n a g e m e n t in
2012.
M a la y s ia n
A u d it
c o m m it t e e
c h a r a c t e r is t ic s
an d
e a r n in g s
S h a r ia h - c o m p lia n t c o m p a n ie s . B u s in e s s a n d M a n a g e m e n t
R e v ie w . V o l. 2 (2 ): 5 2 -6 1 . A r ik u n t o , S . 2 0 0 6 . P r o s e d u r P e n e litia n S u a tu P e n d e k a ta n P r a k tik . R in e k a C ip t a . Ja k a r t a . B e a s le y , M . S . 1 9 9 6 . A n C o m p o s it io n
E m p ir ic a l A n a ly s is
an d
o f t h e R e la t io n
F in a n c ia l S t a t e m e n t F r a u d .
B e tw e e n
T h e A cco u n tin g
th e B o a rd
o f D ir e c t o r
R e v ie w . V o l. 7 1 : 4 4 3 -
465. B o e d io n o , G . S . B . 2 0 0 5 . K u a lit a s la b a : S t u d i P e n g a r u h M e k a n is m e C o r p o r a t e G o v e n a n c e d a n D a m p a k M a n a je m e n L a b a D e n g a n M e n g g u n a k a n A n a lis is J a lu r . S i m p o s i u m N a s i o n a l A k u n ta n s i V II . S o lo . B ra d b u ry , M . E ., Y . T . M a k , d a n C h a r a c t e r is t ic s
an d
S . M . T a n . 2 0 0 4 . B o a rd
A b n o r m a l A c c r u a ls .
W o r k in g
C h a r a c t e r is t ic s , A u d it C o m m it t e e P aper.
U n it e c
N ew
Z e a la n d
dan
N a t io n a l U n iv e r s it y o f S in g a p o r e . D e c h o w , P . M ., R . G . S lo a n , d a n A . P . S w e e n e y . 1 9 9 5 . D e t e c t in g E a r n in g s M a n a g e m e n t . T h e A c c o u n tin g R e v ie w . V o l. 7 0 : 1 9 3 -2 2 5 . E ffe n d i,
A .
2009.
The
P ow er
of
G ood
C o rp o ra te
G ov ern an ce
T eori dan
Im p le m e n ta s i .
S a le m b a
E m p a t. Ja k a rta . G h o z a li,
I.
2007.
A p lik a s i
A n a lis is
M u ltiv a r ia te
U n iv e r s it a s D ip o n e g o r o . S e m a r a n g .
den gan
program
SPSS.
Badan
P e n e r b it
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Pengaruh Mekanisme Corporate Governance... - Azhari, Nurul 18
Je n n in g s ,
M .
M .
2005.
C o n s p ic u o u s
G o v e rn a n ce
F a ilu r e s :
W h y
S a r b a n e s - O x le y
Is
n ot an
E t h ic s W a r r a n t y . C o r p o r a te F in a n c e R e v ie w . V o l. 9 (5 ): 4 1 - 4 7 . J e n s e n , M . C . d a n W . H . M e c k lin g . 1 9 7 6 . T h e o r y o f T h e F ir m : M a n a je r ia l B e h a v io u r , A g e n c y C o s t , a n d O w n e r s h ip S t r u c t u r e . J o u r n a l o f F in a n c ia l a n d E c o n o m ic . V o l. K le in ,
A .
2002.
A u d it
C o m m it t e e ,
B o a rd
of
D ir e c t o r
3 : 3 0 5 -3 6 0 .
C a r a c t e r is t ic s
an d
E a r n in g s
M a n a g e m e n t . J o u r n a l A c c o u n tin g a n d E c o n o m ic s . V o l. 3 3 : 3 7 5 — 4 0 0 . K e p u tu s a n
K e tu a B a p e p a m
N om or 41 Tah un
2 0 0 3 . P e d o m a n P e la k s a n a a n K e r ja K o m ite A u d it .
2 2 D e s e m b e r 2 0 0 3 . Ja k a rta . K e p u tu s a n
M e n te ri B U M N
N om or
103
Tah un
2002.
P em ben tu k a n
K o m ite A u d it B a g i B a d a n
U s a h a M ilik N e g a r a . 4 Ju n i 2 0 0 2 . Ja k a r ta . K o m it e
N a s io n a l
K e b ija k a n
G ov ern an ce
(K N K G ).
2006.
P edom an
U m um
G ood
C o rp o ra te
G o v e r n a n ce In d o n e s ia . Ja k a r ta . P a u lu s ,
C .
2012.
A n a lis is
F a k to r -F a k to r
Y an g
M e m p e n g a ru h i
K u a lit a s
Laba.
S k r ip s i.
U n iv e r s it a s D ip o n e g o r o . S e m a r a n g . R a c h m a w a t i,
A .
dan
H .
T r ia t m o k o .
2007.
A n a lis is
F a k to r -F a k to r
Y an g
M e m p e n g a ru h i
K u a lit a s L a b a d a n N ila i P e r u s a h a a n . S im p o s iu m N a s io n a l A k u n ta n s i X . M a k a s s a r . R a o , R . K . S . 1 9 9 2 . F in a n cia l M a n a g e m e n t C o n ce p t a n d A p p lica tio n . 2
n d
e d . M a c M illa n P u b lis h in g
C o m p a n y . S in g a p o r e . S c o tt, W . R . 2 0 0 6 . F in a n cia l A cco u n tin g
T h eory . 4 rd
e d . S c a r b o r o u g h . P r e n t ic e - h a ll, C a n a d a .
O n t a r io . S ia lla g a n , H . d a n
M . M a c h fo e d z . 2 0 0 6 . M e k a n is m e
C o r p o r a te G o v e r n a n c e , K u a lit a s L a b a d a n
N ila i P e r u s a h a a n . S im p o s iu m N a s io n a l A k u n ta n s i 9 . P a d a n g . S u g iy o n o . 2 0 1 0 . M e to d e P e n e litia n K u a n tita tif K u a lita tif d a n R N D . A lfa b e t a . B a n d u n g . S u jo k o d a n
U . S o e b ia n t o r o . 2 0 0 7 . P e n g a r u h
In te rn , d a n
F a cto r E k s te rn
S t r u k t u r K e p e m ilik a n
T e rh a d a p
S a h a m , L e v e ra g e , F a cto r
N ila i P e r u s a h a a n . Ju r n a l E k o n o m i M a n a je m e n .
V o l. 9 (1 ): 1 -8 . S u s a n t i, A . N .,
R a h m a w a t i, d a n Y . A . A r y a n i. 2 0 1 0 . A n a lis is P e n g a r u h C o r p o r a t e G o v e r n a n c e
D en gan Y an g
K u a lit a s L a b a S e b a g a i V a r ia b e l
T e rd a fta r
di
B u rsa
E fe k
In t e r v e n in g P a d a P e r u s a h a a n M a n u fa k t u r
In d o n e s ia
P e r io d e
2 0 0 4 -2 0 0 7 .
S im p o s iu m
N a s io n a l
K eu an g an I. S u ra k a rta . S u t e d i, A . 2 0 1 1 . G o o d C o r p o r a te G o v e r n a n c e . S in a r G r a fik a . Ja k a r t a . S u to p o ,
B.
2009.
M a n a je m e n
L aba
dan
M a n fa a t
K u a lita s L a b a
d a la m
K ep u tu sa n
In v esta si . U P T
P e r p u s t a k a n U n iv e r s it a s S e b e la s M a r e t . S o lo . U jiy a n t h o , M . A . d a n dan
K in e r ja
S im p o s iu m
B . P r a m u k a . 2 0 0 7 . M e k a n is m e C o r p o r a t e G o v e r n a n c e , M a n a je m e n L a b a K euan gan
(S tu d i
N a s io n a l A K u n ta n s i X .
pada
P e ru sa h a a n
G o
P u b lik
S e k to r
M a n u fa k tu r).
M ak assar.
U n d a n g - U n d a n g R e p u b lik In d o n e s ia N o m o r 4 0 T a h u n
2 0 0 7 . P ersero a n T erba ta s . 1 6 A g u s tu s
2 0 0 7 . L e m b a r a n N e g a r a R e p u b lik In d o n e s ia T a h u n 2 0 0 7 N o m o r 1 0 6 . Ja k a r t a . W a r s o n o , S ., F . A m a lia , d a n
D . K . R a h a je n g . 2 0 0 9 . C o r p o r a t e G o v e r n a n c e : C o n c e p t a n d M o d e l .
C e n te r o f G o o d C o rp o ra te G o v e rn a n ce F E B U G M . Y o g y a k a rta . W ib o w o , N . R . 2 0 0 9 . A n a lis is P e n g a r u h K o m p o n e n -K o m p o n e n A k r u a l D is k r e s io n e r S e b a g a i U k u r a n K u a lit a s L a b a T e r h a d a p A b n o r m a l R e t u r n S a h a m . S k r ip s i. U n iv e r s it a s Is la m In d o n e s ia . Y o g y a k a r t a . W id ia t m a ja , B . 2 0 1 0 . P e n g a r u h M e k a n is m e C o r p o r a t e G o v e r n a n c e T e r h a d a p M a n a je m e n Laba
dan
K on seku en si
M a n a je m e n
Laba
T e rh a d a p
K in e r ja
K euan gan .
S k r ip s i.
U n iv e r s it a s D ip o n e g o r o . S e m a r a n g . Y a n g , W . S ., L o o , S . C ., d a n O w n e r s h ip
S tru ctu re
S h a m s e r . 2 0 0 9 . T h e E ffe c t o f B o a r d S t r u c t u r e a n d In s t it u t io n a l on
E a r n in g s
a n d M a n a g e m e n t . V o l. 3 (2 ): 3 3 2 – 3 5 3 .
M a n a g e -m e n t. In te r n a tio n a l Jo u r n a l o f E co n o m ics
Jurnal Ilmu & Riset Akuntansi Vol. 4 No. 11 (2015)
Pengaruh Mekanisme Corporate Governance... - Azhari, Nurul 19
Y u s h it a ,
N .
A .,
R a h m a w a t i,
G o v e rn a n ce ,
K u a lit a s
E c o n o m ia Ju r n a l. V o l.
dan
H .
A u d it o r
T r ia t m o k o . E k s t e r n a l,
9 (2 ): 1 5 0 -1 5 3 .
2013. dan
P e n g a ru h
L ik u id it a s
M e k a n is m e
T e rh a d a p
C o rp o ra te
K u a lit a s
Laba.