Effect of Good Corporate Governance and Investor Protection on Real Activity Manipulation (RAM) in Three ASEAN Countries (Indonesia, Malaysia, and Singapore)

Abstract

This research aims to investigate the Good Corporate Governance and Investor Protection to Real Activity Manipulation. This research data are 1,202 manufacturing financial statements listed on the stock exchange in 2017 in three ASEAN countries (Indonesia, Malaysia, and Singapore) obtained from the OSIRIS database, which was selected by a purposive sampling technique. The data analysis technique used is the multiple linear regression analysis tests. This study shows that the Audit Committee, Managerial Ownership, and Board of Commissioners Composition have no significant effect on Real Activity Manipulation. In contrast, Board of Commissioners Size and Investor Protection have a impact on Real Activity Manipulation.