This research aimed to investigate the influence earnings management to the compensation of the Employee Stock Option Plan (ESOP). Taking agency theory to explain the conflict between managers and shareholders. It was expected that ESOP would increase the managerial responsibility to companies, but the managers have abused it to gain more benefits for themselves. This research used simple linear regression and multiple linear regression analysis with a sample of 120 publicly traded companies listed on the Stock Exchange during 2011-2014. This study had one independent variable (ESOP) and controls four variables (managerial ownership, institutional ownership, board of directors and audit committees). The result of this study was that earnings management had a positive impact in improving employee compensation due to ESOP program. The existence of managerial ownership and commissioners could reduce earnings management actions in the implementation of the ESOP. ABSTRAK Penelitian ini bertujuan untuk mengetahui pengaruh manajemen laba terhadap kompensasi melalui Employee Stock Option Plan (ESOP). Pemilihan Agency theory untuk menjelaskan konflik kepentingan antara pihak manajer dan pemegang saham. Keberadaan ESOP dapat meningkatkan tanggung jawab pihak manajerial, namun pihak manajerial menyalahgunakan program ESOP untuk meningkatkan keuntungan mereka sendiri. Penelitan ini menggunakan analisis regresi linier sederhana dan regresi linier berganda dengan 120 sampel perusahaan go public yang tercatat di BEI selama 2011-2014. Penelitian ini memiliki satu variabel independen (ESOP) dan empat variabel kontrol (kepemilikan manajerial, kepemilikan institusional, dewan komisaris dan komite audit). Hasil penelitian ini menemukan bahwa manajemen laba memiliki dampak positif dalam meningkatkan kompensasi yang didapatkan karyawan dengan adanya program ESOP. Keberadaan kepemilikan manajerial dan dewan komisaris dapat mengurangi tindakan manajemen laba dalam pelaksanaan program ESOP.
The purpose of this study is to determine the condition of village fund management, and to examine accountability in the management of village funds based on sharia enterprise theory to realize good governance in Buntu Sarong Village. This research is a qualitative research with a phenomenological approach. The source of the data used is primary data obtained directly from informants through interview and observation methods, while secondary data is obtained from journals and books. -applicable rules. This is evidenced by the management of village funds starting with the village development planning meeting which involves community participation in the implementation of village activities. In addition, the Buntu Sarong Village government also instills spiritual values in the management of village funds and realizes accountability vertically to Allah SWT, and horizontally to humans and nature in accordance with the principles of sharia enterprise theory.
The stock market serves as a representation of economic well-being in a country. Along with the myriad of economic predictors, specific knowledge possession may lead to different macro consequences of stock performance and market value. This study empirically investigates the capacity of possessing excellent intellectual capital to increase the performance and values of listed banks in Indonesia. The selection of banks as the primary data represents such sectors' capability to attract, employ, or exploit the excellent internal capacity under the discussion of resource-based view theory. At best to the authors' knowledge, this topic's findings are still elusive and debatable upon considering the direct and indirect relationships between the proposed exogenous and endogenous variables. Eighteen listed banks form the panel data throughout 2011-2016. This study employs a path analysis and Sobel test to obtain the results of the proposed hypothesis. The results report some positive relationships of the intellectual capital to firms' performances and values, directly and indirectly, with a substantial effect on the second model compared to the first model. This study highlighted knowledge's capacity as a vital basis to gauge the banks' performance and valuation. However, a better formulation of intellectual capital is required to capture a better measurement.
Abstrac, Tax avoidance is legal in the eyes of the law, but it is unethical behavior when viewed from an ethical perspective. Companies that do tax avoidance are considered socially irresponsible. Disclosure of Corporate Social Responsibility (CSR) in Indonesia is disclosed in sustainability reporting as an additional report in addition to the company's annual financial statements as required by the government. This study uses a causal comparative research approach. The object of the study was the financial statements of 60 companies listed in the Jakarta Islamic Index (JII) for the 2015-2019 period. Corporate Social Responsibility (CSR) has a negative and significant effect on Tax avoidance. The size of the Company has a positive and significant effect on tax avoidance. Multinational Company has a positive and significant effect on tax avoidance. The Company's Financial Performance does not moderate the relationship between Corporate Social Responsibility (CSR) and tax avoidance. The Company's Financial Performance does not moderate the effect of the Company Size on tax avoidance. The Company's Financial Performance moderates the relationship between the company's multinational variable and the Tax avoidance variable. Abstrak, Tax avoidance atau penghindaran pajak merupakan hal yang legal di mata hukum, namun merupakan perilaku yang tidak etis jika dilihat dari perspektif etika. Perusahaan yang melakukan tax avoidance dianggap tidak bertanggung jawab secara sosial. Pengungkapan Corporate Social Responsibility (CSR) di Indonesia diungkapkan dalam sustainability reporting sebagai laporan tambahan selain laporan keuangan tahunan perusahaan sesuai yang disyaratkan pemerintah. Penelitian ini menggunakan pendekatan kausal komparatif (causal comparative research). Objek penelitian adalah laporan keuangan 60 perusahaan yang terdaftar dalam Jakarta Islamic Index (JII) periode 2015-2019. Corporate Social Responsibility (CSR) berpengaruh negatif dan signifikan terhadap Tax avoidance. Ukuran Perusahaan berpengaruh secara positif dan signifikan terhadap tax avoidance. Multinational Company berpengaruh positif dan signifikan terhadap tax avoidance. Kinerja Keuangan Perusahaan tidak memoderasi hubungan antara Corporate Social Responsibility (CSR) dengan tax avoidance. Kinerja Keuangan Perusahaan tidak memoderasi pengaruh Ukuran Perusahaan terhadap tax avoidance. Kinerja Keuangan Perusahaan memoderasi hubungan antara variabel multinational company dengan variabel Tax avoidance.
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