Pengembangan Indeks Kualitas Air (IKA) sebagai hasil modifikasi NSF-WQI merupakan proses lanjutan dari penyusunan IKA yang telah dilakukan pada tahun 2016. Pengembangan IKA dilaksanakan dengan melakukan verifikasi terhadap komponen penyusun IKA yang meliputi kurva sub indeks, pembobotan parameter, dan verifikasi lapangan terhadap hasil formulasi IKA. Verifikasi lapangan dilakukan pada delapan lokasi di Sungai Ciliwung. Verifikasi lapangan menunjukkan bahwa nilai IKA yang diperoleh dari hasil pengujian kualitas air di laboratorium dan hasil verifikasi lapangan oleh panelis menunjukkan nilai yang tidak berbeda nyata (p<0,01), sehingga rumusan IKA yang telah dikembangkan sesuai digunakan untuk penilaian Sungai Ciliwung. Nilai IKA dikembangkan menjadi enam kriteria yaitu sangat baik (100 ≤ I > 90), baik (90 ≤ I ≥ 80), cukup baik (80< I ≥ 70), sedang (70 < I ≥ 51), marginal (51< I ≥ 36), dan buruk (36< I ≥ 0). Penerapan IKA di lapangan menunjukkan bahwa salah satu sumber mata air Sungai Ciliwung yang berada di wilayah lereng Gunung Pangrango mempunyai nilai 91 dengan kriteria sangat bagus. Sungai Condet sebagai salah satu anak sungai Ciliwung dengan sumber pencemar domestik yang tinggi berada pada nilai 35.5 dengan kriteria buruk. Enam lokasi Sungai Ciliwung lainnya berada pada kriteria marginal sampai baik. Rumusan IKA yang telah diperoleh dapat diaplikasikan untuk instrumen penilaian sungai dan hasilnya dapat dimanfaatkan untuk perencanaan dan evaluasi pengendalian pencemaran air sungai.
This study examines the impact of audit quality on Real Earnings Management (REM). Real earnings management is defined as management actions that deviate from normal business practices, undertaken withthe primary objective of meeting certain earnings thresholds (Roychowdhury, 2006). One proxy is taken for real earnings management, while abnormal operating cash flows and proxy for audit quality are taken as the size of audit firm. Research samples are selected from the population of manufacturing companies listed in Bursa Efek Indonesia from year 2007 to 2011. Sample criteria is companies which have strong incentive to engage in real earnings management and 126 companies are selected. Multiple Regression Model has been applied for data analysis. It is found that impact of audit quality on real earnings management is positive. This result concludes that audit quality is not a warranty that a company’s financial statement is free from earnings management.Keywords: audit quality, earnings management, real earnings management, abnormal cash flow operation.
Ciliwung River is one of the rivers crossing West Java and special capital region of (DKI) Jakarta provinces which plays an important role in fulfilling the needs of human activities and living things surrounding it. Designated as a national priority for management, the Ciliwung River that runs from Mount Pangrango (upper stream) to Jakarta Bay (lower stream) has received pollution from results of human activities such as household activities, agriculture, plantations, animal husbandry, industry, and recreation areas. In addition, the decreased green cover in the upstream area also adds more pressure on the quantity of water in the Ciliwung River. The purpose of this study was to determine the trend of water pollution in the Ciliwung River in the period of 2011-2014 based on physical, chemical and biological parameters. Samples were taken from 22 points starting from upstream to downstream area. From 15 water quality parameters, there were only three parameters, namely total dissolved solid (TDS), pH and nitrate (NO3-N) which still meet water quality criteria class II based on Government Regulation number 82/2001, in all observation periods and sampling sites. Other parameters invariably meet or beyond the water quality criteria. Pollution trend increased towards the downstream of Ciliwung River, however annual comparisons across the year of observations did not show significant differences. High pollution in the downstream area was caused by accumulated pollutants coming from waste disposal of densely populated area and diverse activities in the downstream. Fecal coliform bacteria and total coliform contributed the highest pollution in the Ciliwung River compared to other pollutants. Both those two parameters greatly exceed the water quality criteria at all sampling sites, except in the Ciliwung river spring. Controlling those two parameters may improve Ciliwung water quality.
This study explains the dividend puzzle using the agency-cost frame work suggested by Easterbrook (1984). Easterbrook hypothesized that shareholders in firms, who increase cash dividend payout and ‘simultaneously' raise debts to finance their investments are likely to be wealthier than those in firms who only increase their cash dividend payout. He provided the mechanism that shareholders use the dividend payments to force managers to go to the capital markets to raise funds. Therefore, he argued that dividend policy influences the financing policy. A system of simultaneous equation using three-stage generalized least square method is used to test the hypotheses. Among the variables to proxy the investment opportunity set, market-to-book ratio, market-to-book assets ratio and accounting earnings-per-share-to-price ratio are the best proxies. Attempt is made to obtain better proxies for the investment opportunity set using an instrument variable method. The system is robust to alternate investment opportunity variables as well as to the instrumental variables. The findings are as follows. For the firms that increase cash dividend payout and raise debt simultaneously, (a) dividend policy is not a shareholders' mechanism, but a manager's accounting-based decision with accounting earnings and retained earnings as the major determinants, (b) dividend policy influences financing policy, but not the other way around, (c) increasing dividend payment decreases shareholders' wealth, but increasing debt subsequently increases shareholders' wealth with a net effect positive to shareholders' wealth, and (d) dividend policy is independent from investment policy.
This study aims to determine the effect of real earnings management which is a proxy
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