Penelitian ini bertujuan untuk memberikan bukti empiris pengaruh good corporate governance, free cash flow, dan rasio leverage terhadap manajemen laba. Good corporate governance diukur dengan ukuran komite audit, proporsi komite audit independen, kepemilikan institusional dan kepemilikan manajerial. Discretionary accrual digunakan sebagai proksi manajemen laba. Sampel penelitian adalah 14 perusahaan tekstil yang terdaftar di Bursa Efek Indonesia, yang dipilih menggunakan purposive sampling selama periode penelitian, tahun 2007-2011. Data dianalisis menggunakan regresi berganda. Berdasarkan hasil pengujian disimpulkan bahwa semua komponen good corporate governance (ukuran komite audit, proporsi komite audit independen, kepemilikan institusional dan kepemilikan manajerial) tidak berpengaruh signifikan terhadap manajemen laba, sedangkan leverage berpengaruh, free cash flow berpengaruh negative dan signifikan terhadap manajemen laba. Hal ini berarti perusahaan dengan free cash flow yang tinggi akan membatasi praktek manajemen laba.

The purpose of this study is to examine the effect of accrual earnings management and business strategy to bankruptcy risk. Multiple Least Square (MLS) regression and robust regression of M-Estimator regression are performed on financial data of 1,068 non-financial firms listed on the Indonesia Stock Exchange (IDX). The result indicates that there is no relationship between earnings management and bankruptcy risk, while firms that implement either one of two generic business strategies of cost leadership or differentiation, significantly mitigate the risk of bankruptcy. The effect of earnings management to bankruptcy risk is essential for external stakeholders, such as investors and creditors, to assess bankruptcy risk, financial capability, and credit worthiness of a firm, while business strategy effect on bankruptcy risk benefits internal stakeholders, such as managers, in formulating strategies to deal with going concern issues.

Purpose: The purpose of this study was to assess green innovation as a mediating variable in the relationship between green supply chain management and firm performance.Design/methodology/approach: This study used the companies listed on the PROPER program for the 2010-2018 period on the Indonesia Stock Exchange. The sample collected by using purposive sampling method obtained 488 companies. The data were tested using STATA 16.Findings: The results of the analysis showed that green supply chain management had a positive effect on green innovation, green innovation had a positive effect on firm performance, and green supply chain management had no effect on firm performance. Green innovation mediated the relationship between green supply chain management and firm performance.Research limitations/implications: The limitation of this study was using companies listed on the PROPER program, so it needed to be studied by applying other companies. Besides, it only implemented green innovation, green supply chain management, and firm performance. Future studies can apply other green-related aspects and performances.Practical implications: Regarding the problem of environmental impact, companies in Indonesia can apply green innovation and green supply chain management to improve their firm performance. Companies in Indonesia are increasingly faced with pressure from stakeholders to implement green supply chain management.Social implications: It is useful for the Indonesian government in overcoming environmental impact issues by implementing green supply chain management by companies. Companies that implement green supply chain management will have an impact on increasing green innovation and firm performance.Originality/value: This study assessed the mediation of green innovation in the relationship between green supply chain management and firm performance. This indicated that here there was pressure from stakeholders to pay full attention to the environment, so that companies in Indonesia can apply green innovation and green supply chain management to improve firm performance.

Implementation of Corporate Social Responsibility (CSR) seems to be a logical consequence of the implementation practice of Good Corporate Governance (GCG). By implementing CSR, companies are expected to acquire social legitimacy and maximize its financial strength in the long term, so that will affect the value of sales of company stock. The purpose of this study is to examine the effect of ownership structure and the number of board of commissioners to disclosure of CSR and market reaction. Ownership structure in this case is the proportion of public ownership and proportion of managerial ownership. ABSTRAKPerkembangan pelaksanaan Corporate Social Responsibility (CSR) tampaknya merupakan konsekwensi logis dari implementasi praktik Good Corporate Governance (GCG). Dengan menerapkan CSR, diharap perusahaan akan memperoleh legitimasi sosial dan memaksimalkan kekuatan keuangannya dalam jangka panjang, sehingga akan mempengaruhi nilai penjualan saham perusahaan. Tujuan penelitian ini adalah menguji pengaruh struktur kepemilikan dan jumlah dewan direksi terhadap pengungkapan CSR dan reaksi pasar. Struktur kepemilikan dalam hal ini adalah proporsi kepemilikan publik dan kepemikian manajerial. Penelitian ini menggunakan analisis regresi. Variabel eksogen yang digunakan adalah jumlah dewan komisaris, proporsi kepemilikan publik, dan proporsi kepemilikan manajerial. Variabel endogen adalah pengungkapan CSR dan reaksi pasar. Hasil penelitian menunjukkan bahwa jumlah dewan komisaris berpengaruh signifikan terhadap pengungkapan CSR, proporsi kepemilikan publik tidak berpengaruh terhadap pengungkapan CSR, dan proporsi kepemilikan manajerial tidak berpengaruh terhadap pengungkapan CSR. Jumlah dewan komisaris memiliki pengaruh yang signifikan terhadap reaksi pasar. Proporsi kepemilikan publik tidak berpengaruh terhadap reaksi pasar. Proporsi kepemilikan manajerial tidak berpengaruh terhadap reaksi pasar. Penelitian ini juga membuktikan bahwa pengungkapan CSR tidak berpengaruh terhadap reaksi pasar.Kata kunci: Dewan komisaris, proporsi kepemilikan publik, proporsi kepemilikan manajerial, corporate social responsibility, reaksi pasar

No abstract

The purpose of this research is to examine the effect of voluntary integrated reporting on information asymmetry in European and Asian firms and investigate size as a moderator variable to this relationship. Using a final sample of 94 firms in Europe and Asia that published integrated reports in 2016, the Ordinary Least Square is then performed to analyze the data on quarterly basis. The quarterly analysis is used to look at the relevance of accounting information decline as the time lag increases. The results show that there is an insignificant relationship between integrated reporting quality and information asymmetry which is captured by spread. In addition, the insignificant effect of size to moderate this relationship is also found. These results are supported by additional analysis. This research contributes to the existing debate about whether integrated reporting affects the market, particularly information asymmetry. To the best of the authors’ knowledge, this is the first study to examine the effect of integrated reporting quality on the market on a quarterly basis.

The aim of this study is to examine the effect of good corporate governance mechanism to stock performance through sustainability report disclosure as mediation. Good corporate governance mechanism used in this case is commissioner board's size, the proportion of independent commissioners, audit committee's size, and managerial ownership, whereas stock performance measured in this case is stock return. Using a sample 113 companies all sector listed in Indonesia Stock Exchange which publish sustainability report during 2014-2016. This study were using simple and multiple linear regression analysed to determine indirect effect through path diagram. Based on the result of the first hypothesis testing of GCG mechanism none of which have significant effect on SR disclosure, the second hypothesis is only the proportion of independent commissioner and audit committee's size of GCG mechanism which have positive significant effect on stock performance, the third hypothesis of SR disclosure has no significant effect on stock performance and the fourth hypothesis explains that SR disclosure is not exactly a mediating variable.

PurposeThe purpose of this paper is to investigate the mediating role of financial performance (FP) in modelling the relationship between green innovation (GI) and firm value (FV), using ASEAN countries as sample with panel analysis.Design/methodology/approachA panel data was collected from 374 publicly traded companies in six ASEAN countries, and was analysed using feasible general least squares (FGLS) to control heteroscedasticity and serial correlation.FindingsThe findings suggest that financial performance, namely return on assets (ROA) and return on equity (ROE), has a significant value in mediating the relationship between GI and FV. This illustrates that investors in the ASEAN region's capital market are more interested in the economic motivation for companies implementing GI. Other findings also provide evidence that ROA and ROE have positive and significant effects on FV. This indicates that the profitability resulting from a firm's ability to continuously innovate has a positive impact on the creation of value by manufacturing companies in the ASEAN region.Research limitations/implicationsThe number of observations is still relatively limited, from manufacturing companies listed on stock exchanges in the ASEAN countries. The total number of samples used in this study was 374 companies with 22.30% of the total population.Originality/valueThis study combines the different types of secondary data to provide panel evidence on the mediating effect of financial performance using ROA and ROE in the relationship between green innovation and firm value, using ASEAN countries as the sample.