Download Jurnal Akuntansi SNA 13 – AKPM 19 >>PENGARUH STATUS INTERNASIONAL, DIVERSIFIKASI OPERASI DAN LEGAL ORIGIN TERHADAP MANAJEMEN LABA (STUDI PERUSAHAAN ASIA YANG TERDAFTAR DI NYSE)

Ratih Indraswari, S.E., M.Sc.

ABSTRACT

This study aims to provide empirical evidence about the effect of international status, operation  diversification,  and  legal  origin  on  earnings  management  by  Asian  companies listed  on  NYSE.  The  complexity  of  the  company’s  business  comes  from  the  increasing international  status  and  operation  diversification  will  increase  the  information  asymmetry between managers and investors and affect the earnings management by the companies. For companies  listed  on  foreign  capital  markets,  legal  system  of  the  country  of  origin  (legal origin) also affect earnings management by the companies. Companies with civil law of legal origin  have  a  higher  earnings  management  than  firms  with  common  law  legal  of  origin. Earnings  management  measured  using  discretionary  accrual.  This  study  uses  82  Asian companies listed on NYSE as sample, during the 2006-2008 year period of observation.

This  study  provide  empirical  evidence  that  the  international  status  and  operation diversification  affect  earnings  management.  While  legal  origin  (the  legal  system  of  the country  of  origin)  does  not  affect  earnings  management  when  the  company  is  listed  on foreign capital markets which have strong  investor protection such as  the NYSE  (New York Stock Exchange).

Keyword:  discretionary  accruals,  earnings  management,  international  status,  operation diversification, legal origin.

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Business competition between companies that increasingly stringent demands companies to continue to survive and develop the company. Efforts are made is to expand its market share, either by increasing the diversification of products (multioperasional) as well as extend its marketing reach. In the last decade, an increasing number of companies and a growing market prompted the company to expand its network to foreign (multinational).

As companies become more diversified internationally, the company’s operations are naturally becoming more multifaceted. Consistent with the increased complexity, previous studies provide evidence that the expansion in international markets increases the complexity of information being processed for the investor (Thomas, 1999; Callen et al., 2005), managers (Kim and Mauborgne, 1995; Birkinshaw et al., 2001) and financial analysts (Duru and Reeb, 2002; Khurana et al., 2003; Tihanyi and Thomas, 2005).

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