Pengujian terhadap Technology-To- Performance Chain: Pendekatan Structural Equation Modeling

Universitas Pendidikan Nasional Denpasar
KAP Ngurah Arya & Rekan Denpasar


The purpose of this study is examining the technology to performance chain model a structural equation modeling approach. This examination doing because Goodhue and Thompson (1995) did not fully test the linkages proposed in their technology to performance chain model. Staples and Seddon (2004) was testing the linkages which not tested by Goodhue and Thomspon (1995). However, they results shows inconsistence with theories. Data use in this study was collected from individual information technology user perception in accounting staff hotel in Badung. Data collected by 500 questionnaires through contact person and mail survey. Of that, 163 questionnaires can be used (response rate 32,6%). Data analysis was using multivariate structural equation modeling by AMOS 4.01 and SPSS 10.0 package software. The results shows that task technology fit are positively significant influence to expected consequences of use, affect and performance. Expected consequences, social norms and facilitating conditions are positively influence information technology utilization, but not significant. Affect are negative influence to utilization and utilization of information technology positively and significantly influence individual performance.

Keywords: Task technology fit, expected consequences of use, affect toward use, social norms, facilitating conditions, utilization and performance

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Analisis Beberapa Faktor yang Berpengaruh terhadap Proses Pengembangan Kualitas Sistem

Sadat Amrul S, SE, M.Si
STIE Indonesia Kalimantan Selatan
Ahyadi Syar’ie, SE
STIE Indonesia Kalimantan Selatan


This research test directly factors influencing for systems development quality, like: user participation, user training, user expertise, user /developer communication, user influence, and user conflict. Persuant to answer 86 respondent employee banking industry in Banjarmasin. Result of examination of partial regretion indicate that user training and user/developer communication have an effect on positive and significant to systems development quality, while user participation, user influence, user expertise and user conflict not have an effect on by partial to systems development quality.

Keyword : information system, quality measurement, system quality, user satisfacton

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Analisis Faktor-faktor yang Mempengaruhi Kinerja Sistem Informasi Akuntansi

Drs. Acep Komara, SE., MSi.
Universitas Swadaya Gunung Jati Cirebon


This study is meant to test the effect of involvement variable, capability of personnel Information System (IS), organization size, top management support and formalization to the satisfaction of Accounting Information System (AIS) users as the surrogate of AIS performance. Besides, it is also meant to test the differences of AIS performance in relation to the users education and training program, steering committee of IS and the independence of IS department location. This study is based on Sugiharto’s study (2001) with the change that lies on research focus i.e. at general ledger sub-system, research object, data processing analysis, and the instrument used to measure the satisfaction of AIS users. The research data are obtained by means of mail survey, enumerator service, and walk-in done by the researcher, directly to the respondents. There are 83 manufacturing business involved in this research showing the level of 24.93 % response out of 333 population. The analysis method of research comprises influence test using multiple regression analysis, t-test, F-test, coefficient of determination. Meanwhile, differential test uses Mann Whitney U-test. The result of partial regression test shows that involvement variable, organization size, top management support, and formalization have a significant effect to the users’ satisfaction. Besides, involvement variable, capability, and top management support affect significantly to the use of AIS. Meanwhile, on the simultaneity test, all independent variables perceived to have an effect on the AIS performance. Furthermore, coefficient of determination for users’ satisfaction variable (Y 1) and the system use (Y2) is 41.2% and 32.4% accordingly. On difference test using Mann Whitney U-test is to be found evidence that there is no difference of AIS performance in line with whether or not there is a steering committee, user training and education program, and the independence or dependence of the IS department. The result of the research heralds three implications for the hereinafter research. First, some variables of organizational context and moderating variables require to be entangled. Second, it needs exploration and definition of techniques and approaches for user training and education program. Third, it needs elaboration of special purpose of the software developed by the respondents.

Keyword : User Accounting Information System Satisfaction, User Accounting Information Use, User Involvement, Capability of Information System Personnel, Top Management Support, Formalization of Information System Development, Organization Size.

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Analisis Kontribusi Nilai Teknologi Informasi terhadap Kinerja Proses Bisnis dan Dinamika Bersaing (Studi Empiris pada Hotel Berbintang di Bali)

Ni Nengah Seri Ekayani
Universitas Warmadewa Bali
H. Imam Ghozali
Universitas Diponegoro Semarang
Universitas Diponegoro Semarang


The purpose of this study is to examine the contribution of information technology (IT) value on business process performance and competitive dynamics by using value-based measurement with value chain concept. The inconsistency in results of previous studies made necessity to repeat testing to get conceptual measures and value chain model that can be accepted to measure IT value contribution on business process performance and competitive dynamics. Value chain concept to measure IT value contribution in business process performance and competitive dynamics is relatively new and never conducted before in Indonesia. This gives motivation to conduct the study. The primary data used in this study is collected from 197 IT managers in 70 Star Hotel in Bali by survey method and questionnaire administered by contact person. The sample determined by convenience random sampling. Data analyzed by multivariate structural equation modeling (SEM) technique processed by AMOS 4.01 and SPSS 10.0 programs. The results show that IT gives positive and insignificant value contribution on business process performance and competitive dynamics. Based on direct and indirect analysis comparison, it can be concluded that in indirect effect analysis, IT effect through primary business process gives higher value contribution on business process performance than its direct effect. Conversely, IT indirect effect through primary business process less contribute on competitive dynamics compared with its direct effect. This study results show that value-based of value chain model is appropriate and comprehensive means to measure IT value contribution on business process performance and competitive dynamics.

Keywords: Value Chain, Business Process, Business Process Performance, Competitive Dynamics and Structural Equation Modeling

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Analisis Faktor-faktor yang Mempengaruhi Kualitas Laba dan Nilai Perusahaan

Universitas Sebelas Maret (UNS)


The objective of this study is to examine the influence of Investment Opportunity Set (IOS) and corporate governance mechanism (audit committee, board of commissioner, managerial ownership, institutional ownership) toward earnings quality and firm value among listed manufacturing companies at Jakarta Stock Exchange. The result of this study showed that IOS have significant influence to earnings quality and firm value; managerial ownership and institutional ownership have significant influence to firm value but didn’t have significant influence to earnings quality; audit committee and board of commissioner didn’t have significant influence to earnings quality and firm value.

Keywords: Investment Opportunity Set, corporate governance mechanism earnings quality, firm value

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Studi Empiris terhadap Kapabilitas Strategik Perusahaan Manufaktur di Indonesia

Sistem Informasi FE-UGM


In operations management, strategic capabilities directly influence a company’s success factors in competition. The purpose of this paper is to examine the relationship between strategic manufacturing capabilities in Indonesian manufacturing industry. The survey was conducted through internet-based questionnaire and statistical analysis, particularly structural equation modelling (SEM), was used to apprehend this concept. Analysis of the data reveals that quality is a basis for delivery, which is basis for flexibility and cost. Whether flexibility and cost are pursued exclusively or simultaneously, it seems to be connected with the implementation of certain improvement programs. This common pattern of capability accumulation can be used to estimate potential behavior or as a way to perform in an innovative manner.

Keywords: manufacturing capabilities, strategic manufacturing, resource-based view

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Reaksi Pasar terhadap Pengukuran Kinerja Akuntansi Perusahaan Prospector dan Defender: Bukti Tambahan untuk Periode setelah Krisis

Fakultas Ekonomi Universitas Brawijaya Malang


Miles and Snow devide firm’s strategy into four types, which are prospector, defender, analyzer and reaction, with prospector and defender as the two extremes. The objectives of this research are to empirically examine the differences in accounting performance between prospector and defender firms and the differences in market reaction as well. Accounting performance are measured by earnings before tax, discontinued operation and extraordinary items, sales growth and dividend payout ratio. Market reaction is proxied by cumulative abnormal returns. Sample of this research consists of 60 firms, 33 firms are categorized as prospectors and 27 firms are categorized as defenders. Data of this research are analyzed using Mann-Whitney U test. The results of this research show that there are no differences in earnings before tax, discontinued operation and extraordinary items, sales growth and market reaction between prospector firms and defender firms. On the contrary, this research found that dividend payout ratio of defender firms are higher than dividend payout ratio of prospector firms, as predicted.

Keywords: Defender, prospector, financial performance, market reaction

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Accounting Beta as Ex Ante Uncertainty Proxy in Initial Public Offering

Universitas Jember


The purpose of this study is to examine the relation between accounting measures of total firm risk and the level f underpricing of initial public offerings (IPOs). A number of studies have shown an association between market and accounting betas. However, most of the studies are performed using a sample of large established firms for which both accounting and market betas can be computed. In case of IPO firms, market betas cannot be computed due to the data limitations associated with private firms. Due to limited information available prior to IPO dates, in particular financial reports, one has to use a proxy to measure risk in an IPO. Accounting variables have been prominently known as potential proxy for ex ante uncertainty in an IPO. Using a sample of 90 IPOs that went public during 1991-1997 at the Jakarta Stock Exchange, this study finds that the level of underpricing is determined by accounting beta, price to book value ratio and price earnings ratio. The IPO issue size has negative but insignificant association with the level of underpricing.

Keywords: Initial public offerings (IPO), accounting beta, ex ante uncertainty, underpricing

1. Introduction
Theoretical and empirical evidence has indicated that certain accounting measures can be used as proxies for total firm risk, that is, they could determine the riskiness of a corporation (Lev, 1974; Bowman, 1979; DeAngelo, 1990, among others). The literature also suggests that accounting information is relevant in determining the value and thus the riskiness of a corporation through the use of accounting analysis (Brealy and Myers, 1996; Benninga and Sarig, 1997; White et al., 1998, among others). Since most of the information available in the prospectus is accounting information, it is arguable that this information represents a potential source for assessing the quality of the issuing firm.

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Analisis Cross-Sectional dan Temporal Hubungan antara Financial Leverage dan Risiko Sistematis

Drs. Ibnu Qizam, SE, MSi, Akt.
Fakultas Syari`ah UIN Sunan Kalijaga


This research is intended to examine both cross-sectionally and inter-temporally the correlation between financial leverage and systematic risk (beta). Financial leverage is usually considered as one proxy of risk derived from financial data and as one domain that has distinctive determinants. Beta, on the other domain, is regarded as one proxy of risk derived from market that has some other determinants. It is the research that tries to combine both cross-sectionally and inter-temporally the two domains that most of accounting researchers devote themselves little to. Cross-sectionally, this result fail to support hypothesis 1, that is the relation between financial leverage and systematic risk will be stronger when sizes of the firms are relatively smaller that the other firms and conversely, the relation between financial leverage and systematic risk will be stronger when the size is relatively larger that the others. Hypotheis 2 (the relation between financial leverage and systematic risk will be negatively stronger when the firms belong to a group of relatively more homogeneous industries than the others; and conversely, the relation between financial leverage and systematic risk will be positively less strong when the firms belong to a group of relatively less homogeneous industries than the others) and hypothesis 3b (the relation between financial leverage and systematic risk will be stronger when the significant effect of operating leverage variable is higher) is empirically supported (when using interaction model C.1). In spite of the significant results, the coefficients of financial leverage, operating leverage, and industry on the main effects show inconsistent signs. The result, however, is consistent with Sufiyati (1977)`s findings where some of her results showed that financial leverage was negatively related to beta. On the other test, inter-temporally the result shows that financial leverage is significantly and symmetrically related to beta. This means that the two variables show bidirectional causality. The high (low) beta can result in the high (low) financial leverage; and on the contrary, the high (low) financial leverage can result in the high (low) beta. This means that hypothesis 4a is supported. Nevertheless, the conditioning variables (operating leverage and size) do not significantly influence the causal relation between beta and financial leverage.

Key words: Beta (systematic risk), Financial leverage, Operating Leverage, Size, Cross-sectional, inter-temporal, bidirectional, interaction model

Pengaruh Pemisahan Hak Aliran Kas dan Hak Kontrol terhadap Dividen

Baldric siregar
STIE YKPN Yogyakarta


The expropriation of minority shareholders by those of controlling shareholder is the main agency conflict in firms with concentrated ownership. The expropriation is obvious when cash flow rights and control rights are separated through pyramiding and cross-holdings. The ultimate ownership concept is used to identify the separation and investigate its implications on dividend. By using sample consists of firms listed in the Jakarta Stock Exchange for the period from 2000 to 2004, empirical evidences show that cash flow rights and control rights do not go together but have different implications. The cash flow right concentration is an incentive to avoid expropriation. This can be seen from evidences of positive effects of cash flow rights on dividend. On the other hand, control right concentration is an incentive to generate private benefits through expropriation. This conclusion is supported by evidence of negative effects of control rights on dividend. When control rights exceed cash flow rights, the controlling shareholders have higher incentive to expropriate by participating in firm’s management. The controlling shareholders’ participation in management makes them more freely to generate private benefits. But the incentive is lower when a firm has the second controlling shareholder. The second controlling shareholder can mitigate the controlling shareholder’s incentive to expropriate.

Keywords: expropriation, cash flow rights, control rights, cash flow right leverage, pyramiding, cross-holding, immediate ownership, ultimate ownership, dividend

Pemanfaatan Informasi Akuntansi untuk Menghindari Eskalasi Komitmen pada Level Pengambilan Keputusan

Universitas IBA Palembang


The Objective of this research is to examine accounting information as strategy to help decision maker avoiding commitment escalation. Given strategy include unambiguous feed back strategy, project progress report, and giving information of future advantage to individual or group of decision maker. Sums of 182 students of Accounting Department, Faculty of Economic, Gadjah Mada University participate in this experiment. The result of the test shows that the three strategies can significantly help decision maker avoiding commitment escalation problem. However, surprisingly the result of the test show that strategy to give future benefit information significantly tends to direct the group to commitment escalation. The test is also performed to observe whether there is polarization of individual or group decision. Statistic results give support that when the three strategies are given to individual and group of decision maker and group polarization occurred.

Key word: commitment escalation, accounting information strategy, individual-group decision

Pengaruh CSR Disclosure terhadap Earning Response Coefficient (Suatu Studi Empiris pada Perusahaan yang Terdaftar di BEJ)

Program Ilmu Akuntansi FEUI


The purpose of the study is to examine the effect of the information of Corporate Social Responsibility disclosed in the companies’ annual reports on the informativeness of earnings (measured by earning response coefficient, ERC). The study hypothesized that there is negative effect of CSR disclosures level on the ERC since the CSR disclosures provide investors more information which is not captured by the accounting earnings. The sample of the study consist of 108 annual reports 2005 of the companies listed at the Jakarta Stock Exchange. The empirical results of the study show that the level of CSR disclosures has negative effect on the ERC as predicted. The results of the study indicate that investors assess the CSR information disclosed by the companies in their annual reports for their investment decision.

Keywords: Corporate Social Responsibility Disclosures, Earning Response Coefficient

Analisis Pengaruh Partisipasi Anggaran terhadap Kinerja Manajerial Melalui Komitmen Tujuan Anggaran dan Job Revelant Information (JRI) Sebagai Variabel Intervening (Penelitian Terhadap Perusahaan Manufaktur Di Indonesia)

Universitas Diponegoro Semarang
Universitas Diponegoro Semarang


The purpose of this research is to analyst the influence of participation in composing budget toward managerial performance, whether through budget goal commitment and job-relevant information as intervening variable. The inconsistency situations between results of the prior researchs, about the influence of budget participation on managerial performance become a motivation of this study. Data used in this study is obtained from ideas or perceptions of managers/chiefs leveled as managers who filled and gave the questionnaires back to the researcher. From 700 questionnaires which distributed to managers/ chiefs leveled as managers on manufacturing companies which listed in BEJ, 168 (24%) questionnaires were sent back, for then analyzed with multivariate technique SEM and assist by the AMOS 4.01 and SPSS 10.0 programs. The result of these study proving that the value of directly influence between budget participation toward managerial performance is higher than influence of budget participation toward managerial performance through budget goal commitment and job relevant information as intervening variable. However, the researcher can make conclusion that budget goal commitment and job relevant information as intervening variable weaken influence managers participation in compose budget toward their performance on managerial activities.

Key words : budget participation, budget goal commitment, job relevant information and managerial performance.

Pengaruh Struktur Kepemilikan Perusahaan dan Transaksi dengan Pihak-pihak yang Memiliki Hubungan Istimewa terhadap Daya Informasi Akuntansi



This research studies the effect of ownership structure and related party transactions on the informativeness of accounting numbers. Indonesian sample is interesting to be examined due to low quailty of accounting number, concentrated ownership, dominant family control and high related party transactions. Using level model and changes model, this study show that concentration of ownership increases informativeness of accounting numbers to the capital market. However, the concentrated ownership by family decreases informativeness of accounting number to the capital market. Further, the magnitude of related party transaction that has been earned or used, as reported in one of income statement accounts, increases informativeness of accounting numbers. Otherwise, the magnitude of related party transactions that has not earned or used, as reported in one of balance sheet accounts, decrease informativeness of accounting number.

The Effect of Transitory Earnings on The Use of E/P Ratios in Corporate Valuation: Empirical Evidence from Indonesia

Fakultas Ekonomi Universitas Kristen Duta Wacana


The purposes of this study are, firstly, to confirm the findings of the previous study, whether earnings contain transitory components. Secondly, to investigate how E/P ratios are affected when firms experience transitory earning changes. Thirdly, to examine whether the differences in E/P ratios across firms due to differences in the magnitude of transitory earnings will quickly disappear in subsequent years. Using financial data of companies listed in Jakarta Stock Exchange (JSE) from the periods of 1993 to 2003, the study finds that earning changes exhibit a transitory component. Under the condition of transitory earnings, firm’s E/P ratio is positively affected by the changes in earnings. Industry-adjusted earning changes variable is shown to have a high explanatory power in predicting firm’s E/P ratio. As the variation of firm’s E/P ratios are mainly explained by the transitory component of earnings, time series pattern of E/P ratios reflects transitory deviations due to the transitory component of earnings changes.

Many practitioners subscribe to the view that accounting earnings and earning-toprice (E/P) ratios are among the most important figures in making investment decisions. E/P has also drawn much attention from academicians, and has been interpreted in various ways. Some popular interpretations of E/P ratios have been an earning capitalization rate (Graham et al., 1962), an indicator of mis-priced stocks (Basu, 1977 and Jaffee et al., 1989), an indicator of transitory earnings (Beaver and Morse, 1978), and a risk measure (Ball, 1978).

Analisis Framing dan Causal Cognitive Mapping dalam Pengambilan Keputusan Strategik: Suatu Studi Eksperimental

Universitas IBA Palembang


The objectives of this research are to examine and to give empirical evidence about framing and causal cognitive mapping effect on strategic decision making under uncertainty condition. The first hypothesis proposed is that there is bias in decision making caused by presented information of positive and negative framing. The second hypothesis suggests that the bias can be eliminated through causal cognitive mapping technique. In this research the bias that occurred can be measured by the risk of decision making preference, namely risk averse or risk seeking tendency. This research uses 2 x 2 between subject experimental designs. Participants are as many as 114 student of MM UGM Jakarta executive class. In order to examine hypothesis, independent sample t-test is used as different test analysis tool. The result is that the difference of average risk preference between participant who receive positive framing and participant who receive negative framing shows the occurred bias in decision making. The result of test shows the support of proposed hypothesis. This research empirically shows that framing and causal cognitive mapping technique affect strategic decision making under uncertainty. Specifically it can be concluded that: (1) decision making that receive presented information by positive and negative framing will undergo bias in decision alternative determining; (2) participant who receive positive framing will tend to risk averse, whereas participant who receive negative framing will tend to risk seeking; (3) causal cognitive mapping technique can decrease bias as impact of framing in strategic decision making under uncertainty.

Key words: Framing, causal cognitive mapping and strategic decision

Pengaruh Mentoring terhadap Kepuasan Kerja, Konflik Peran dan Prestasi Kerja serta Niatan untuk Pindah (Studi Empiris di Lingkungan KAP)

Universitas Muhammadiyah Jember


This study empirically examined the influence and relationship mentoring program with role stress, job satisfaction, Job Performance and turnover intention auditor profesional in the public accounting firm. To collect the data, a research instrument was prepared to participant. The data from questionare are 110 and this study uses full structural equation modeling (SEM) AMOS 4. The results of this study found formal mentoring and informal mentoring in the public accounting firm increase culture of job performance auditor within the public accounting firm, but found negatively not significan Job Performance to turnover intention and influence mentoring to role conflict.The result of this stream of researh that the public accounting firm use mentoring program increase culture of job performance auditor and have mentoring theory suggests mentors provide a positive influence on protégé, helping to integrate into an organizational role. Mentors are wiewed as crucial for obtaining information about organizational members. Providing critical feedback during complex assignments and learning how to manage work groups, peers and superiors. Mentoring programmes in organizations seeking to manage better the career development of employees. Mentoring program are those in which new profesional employees are assigned to older managers to assist in adjusting to the organizational culture and provide career development functions in in the public accounting firm.

Keywords : mentoring, job satisfaction, role conflict, performance, turnover intention

Analisis Perbedaan Perilaku Etis Auditor di KAP dalam Etika Profesi (Studi Empiris terhadap Peran Faktor Individual: Locus of Control, Lama Pengalaman Kerja, Gender dan Equity Sensitivity)

Alumni Fakultas Ekonomi UNS


This study purposes to examine whether there is different of ethical behaviour between auditors based on individual factors (locus of control, years of job experience, gender, and equity sensitivity) and to find out how perception of auditorss toward the ethic code of Indonesian accountants associate. The populations of the research are auditors who work in public accountant office in Surakarta and Yogyakarta. This research uses convenience sampling method to collect sample The result of hypothesis test shows there is significantly ethical behaviour differences between internal locus of control auditors and external locus of control auditors, between senior auditors and junior auditors, and between benevolents auditors and entitleds auditors and also there is no significantly ethical behaviour differences between men auditors and women auditors. The result of additional analysis using proportion test shows that all of respondents (auditors) in this research have positive perception toward the ethic code of Indonesian accountants associate, so all of respondents have ethical behaviour, although have different level from each individual based on different of their individual factors.

Keywords: ethical behaviour, auditors, profession ethics, perception, the ethic code of the Indonesian accountants associate, internal locus of control, external locus of control, senior, junior, men, women, entitleds, benevolents

Opini Audit Going Concern: Kajian Berdasarkan Model Prediksi Kebangkrutan, Pertumbuhan Perusahaan dan Reputasi KAP (Studi pada Emiten BEJ)

Alumni Jurusan Akuntansi Fakultas Ekonomi Unika Atma Jaya
Alumni Jurusan Akuntansi Fakultas Ekonomi Unika Atma Jaya


This research try to find the effect of bankruptcy prediction models, company’s growth and reputation of public accounting firm against going concern audit opinion. In this case, we use four approaches of bankruptcy prediction model from Edward I. Altman, Springate and Zmijewski. This research use 93 samples of go public manufacturing company listed at Jakarta Stock Exchange from 1998 until 2002. In this research, we take data from Capital Market Directory at Jakarta Stock Exchange 1996 and 2002, and also annual report and audit report for each company. We use binary logistic regression of SPSS 11,5 Program with 10% significant level.

Pengaruh Preferensi Klien dan Pengalaman Audit terhadap Pertimbangan Auditor

Kopertis Wilayah XI Kalimantan


The objective of this study is to examine how auditors respond in their audit judgment to the client position or preferences. It hypothesized that auditor respond in different ways based on their audit experience. Inexperienced auditors tend to be conservative and more likely to propose audit adjustment than experienced auditors. Experimental study was conducted to 64 auditors from Big 4 and non Big 4 accounting firm. Audit cases used in this study involve an acquisition case to a target division that has the inventory obsolescence problems. Participants asked to make audit judgments i.e. to propose audit adjustment in inventory write-down. Results show that the hypotheses supported and audit experienced play important role in information processing and audit judgment resulted. On average, the client positions have no effect on auditor judgments.

Key Words: Auditing, Auditor Independence, Audit Experience, Client Preference

Pengaruh Computer Anxiety terhadap Keahlian Karyawan Bagian Akuntansi dalam Menggunakan Komputer (Survay pada Perusahaan Tekstil di Surakarta)

Dosen Fakultas Ekonomi Universitas Sebelas Maret
Alumnus Fakultas Ekonomi Universitas Sebelas Maret


Applications of computer technologies are used by textile companies in Surakarta in order to support business activities in areas of financial, managerial and production process. It is conducted to achieve efficiency and differentiation in order to obtain competitive advantages and their business are more oriented to achieve long-term profits. Although computer has a great deal of benefits, but in other side, several people in society feel anxiety/worry with the numerous presence of computer technology. Purposes of the research were to understand the affect of computer anxiety on skill of computer usage in accounting staff of textile companies in Surakarta. Computer anxiety is a tendency of a person who feels troubled, worry or is afraid of using a computer technology in present and future (Igbaria and Parasuraman, 1989). Method of data collecting was primary data survey and a questionnaire was applied as an aid tool to collect the data. Computer anxiety variable was measured by using “Computer Anxiety Rating Scale (CARS)” instrument that developed by Heissen et. all (1987) and variable of a computer usage was measured by using Computer Self-Efficacy Scale (CSE) that developed by Murphy et. al (1989). The Data testing used analysis of simple linear regression. Analysis result of the data from 125 accounting staffs indicated that computer anxiety has significantly negative correlation with skill of computer use. Therefore, the research result supported the hipotesis that computer anxiety has negative influence on skill of computer use.

Keywords: Computer anxiety, skill of computer use

Investasi Teknologi Informasi dan Kinerja Keuangan: Aplikasi Data Envelopment Analysis (DEA) pada Perusahaan yang Sukses Melakukan Investasi Teknologi Informasi

Ronny Prabowo
Universitas Kristen Satya Wacana
Yayuk Ariyani
Universitas Kristen Satya Wacana


This research aims to test whether firms that successfully invest in information technology (IT) financially outperform their counterparts (control group). Successful firms are firms that are awarded by two business magazines (Swa and Warta Ekonomi). Instead of only using test of mean difference, we also rely on Data Envelopment Analysis (DEA), a mathematical approach to analyze the relative efficiency of individual economic entities compared to other entities. We use CMOM (Computer Model for Operation Management) for data analysis. Result shows that more numbers of successful firms reach the absolute value of efficiency (100%) compared to the control firms.

Keywords: IT investments, Data Envelopment Analysis (DEA), financial performance

Pengaruh Konservatisma Akuntansi terhadap Penilaian Ekuitas Perusahaan Dimoderasi oleh GCG

Universitas Khairun Ternate


The objective of this study is to determine the influence of accounting conservatism on the assessment of corporate equity valuation and the ability of Good Corporate Governance (GCG) in interact the effect of accounting conservatism to the corporate value. Sample in this research is manufacture companies that listed in Jakarta Stock Market for the financial report in 2000-2005 periods. Number of sample is 23 companies with 115 observations. The accounting conservatism proxy by conservatism instrument variable (VIKV2_23). The assessment of corporate equity proxy by market-to-book ratio. The mechanism of Corporate Governance is measured using managerial of properties and the proportion of commissioner board. The results showed that accounting conservatism giving significant positive influence to corporate equity. Proportion of commissioner board as one as mechanism of corporate governance was moderating variable that interact relation between accounting conservatism with corporate value, even in negative impact. Oppositely, managerial property was not moderating variable that could interact the relation between accounting conservatism and corporate value.

Key words: conservatism instrument variable, market-to-book ratio, corporate governance mechanism

Pengaruh Risiko Litigasi dan Tipe Strategi terhadap Hubungan antara Konflik Kepentingan dan Konservatisma Akuntansi

Universitas Muhammadiyah Malang


This research studies existence and determinant of accounting conservatism, especially related to conflict of interest between investor and creditor considering manager incentive due litigation risk and firm strategy typess. The objectives of this research are: (1) to investigate the effect of conflict of interest on accounting conservatism; (2) to investigate the effect of litigation risk on the relation between conflict of interest and accounting conservatism; (3) to investigate the effect of strategy types on the relation between conflict of interest and accounting conservatism. Result of the research shows that there are variation accounting conservatism level inter-firm. The first testing hypothesis result shows that conflict of interest influence positively on accounting conservatism. The second testing hypothesis result shows litigation risk moderate the relation between conflict of interest and accounting conservatism, but the moderation role is weaken. This result is not support predicted hypothesis. The third testing hypothesis result shows firm strategy types moderate the relation between conflict of interest and accounting conservatism. The result shows when firm strategy is prospector, the positive relation conflict of interest and accounting conservatism is weaker. When firm strategy is defender, the positive relation conflict of interest and accounting conservatism is stronger. The result support predicted hypothesis. This research shows litigation risk and strategy types can be assumed as condition that motivate manager in responding conflict of interest between investor and creditor related to conservative financial report. By unsupported the second hypothesis, possible reason for this matter because of the weakness of law enforcement in Indonesia, that influence manager in anticipating litigation risk.

Key words: conservatism, conflict of interest, litigation risks, strategy types

Pengaruh Aktivitas dan Financial Literacy Komite Audit terhadap Jenis Manajemen Laba

Universitas Indonesia


Audit committee is one component of GCG which exists in the company. In running their task and function in connection with financial reporting, the members of audit committee is required to communicate actively with internal and external parties and to have financial literacy in order to be able to increase the quality of company’s financial statement. This research is performed to find the effect of the audit committee’s effectiveness, in which the effectiveness is from the perspective of input and process, to the type of company’s earning management, whether it is efficient or opportunistic. The audit committee’s effectiveness is measured by the audit committee index from GCG survey results which is developed by Arsjah (2005). In addition to finding the effect of the audit committee’s effectiveness, this research is also performed to find the effect of components of audit committee’s activity, its meeting with company’s internal (SPI) and external auditor, and its financial literacy to the type of company’s earning management. More effective, active and financial literate the audit committees are expected to be able to make the company’s earning management more efficient. This research finds that the audit committee’s effectiveness from the perspective of input and process is not able to make the company’s earning management more efficient. If we see from the component of audit committee’s activity, its meeting with SPI is not proved to make the company’s earning management more efficient. Whilst the audit committee’s meeting with external auditor and financial literacy have inconclusive results. This research is also using Board of Commissioners (“BOC”) index and external auditor index from survey by Arsjah (2005), besides BOC’s percentage and auditor’s size, to find the effect of BOC’s and external auditor’s quality to the type of company’s earning management. This research finds that BOC index and external auditor index tend to make the company’s earnings management more efficient than the BOC’s percentage and auditor’s size. It shows that the BOC’s percentage and auditor’s size are not appropriate to be used as a proxy of BOC and audit quality.

Keywords : audit committee’s effectiveness, audit committee’s activity, financial literacy, earning management.

Pengaruh Corporate Governane terhadap Manajemen Laba di Industri Perbankan Indonesia

Alumni Fakultas Ekonomi Universitas Sebelas Maret
Fakultas Ekonomi Universitas Sebelas Maret


The aims of this research at examining the influence of corporate governance mechanisms, such as, board of commisioner composition and size, and audit committee existence on the earnings management practice in public bank companies listed in Jakarta Stock Exchange. The samples of this research is all of public banks companies existed in Indonesia in the year of 2000-2004 which were listed in Jakarta Stock Exchange. The research data were collected from public bank’s financial statement for the period of 2000 until 2004, from Indonesian Banking Directory published by Bank Indonesia from 2001 until 2005, and also from each company’s websites. Purposive sampling method was used to determine research sample. From this method, we have collected 100 observations from 20 public banks companies/5 years. By using multiple regression analysis as the research method, the results shown that corporate governance mechanisms, namely, board of commisioner composition and size, and also audit committee existence influenced earnings management of public banks companies which have been detected by using specific accrual model from Beaver and Engel (1996). These results mean those mechanisms done by the company have succeeded to minimize the earnings mangement practice. Therefore, based on these results we can conclude that corporate governance mechanisms have worked effectively to increase company’s performance.

Keywords: corporate governance, board of commisioner, audit committee, earnings management

Investigasi Motivasi dan Strategi Manajemen Laba pada Perusahaan Publik di Indonesia

Universitas Brawijaya Malang


This study investigates the existence of earnings management motivations and strategies. Based on ordinary least square regression, this study indicates that debt covenant and political cost motivations affect earnings management. However, bonus plan motivation and accounting method choice strategy do not affect earnings management. Investigation on earnings management practices explains that bonus plan motivation affect income increasing, not income decreasing. This study finds that the managers of public firms in Indonesia do not use accounting method choices as earnings management strategy. Some of them choose to use a little of accruals accounting flexibility and prefer both GAAP violations and intercompany transactions strategies. This study identifies that the motivations of debt covenant, political cost and owners’ wealth as well as the strategy of accruals accounting flexibility are earnings management practices with global value. Otherwise, earnings management practices with local value consist of motivation caused by both debt restructuring and going concern constraint and strategy through GAAP violations and intercompany transactions.

Key Words: Earnings management, Motivation, Bonus plan, Debt covenant, Political cost, Owners’ wealth, Debt restructuring, Going concern, Strategy, Accounting method choice, Accruals accounting flexibility, GAAP violations, Intercompany transactions, Global value, Local value

Pendeteksian Earnings Management, Underpricing dan Pengukuran Kinerja Perusahaan yang Melakukan Kebijakan IPO di Indonesia

STIE Malangkucecwara, Malang


Earnings Management, underpricing and performance of company joining policy of IPO draw to be studied. Differ from research Husnan ( 1996) to research phenomenon of underpricing of moment IPO, Nasirwan ( 2002) testing performance of pasca IPO, and Candy ( 2002) testing performance operate for and the finance performance, this research extend examination to phenomenon of earnings management, underpricing and company performance ( finance, market) together. As much 31 company conducting IPO in Jakarta Stock Exchange in research of during period 1990 up to 2001, with unit analysis of during 6 year consisted of 3 year before IPO and 3 year after IPO, so that there is 186 unit analysis. Result of examination indicate that mean discretionary accrual is positive, what indication that company executing IPO of indication do policy of earnings management three year before IPO and three year after IPO by playing component accruals. But discretionary accrual before IPO and after IPO not differ, this matter indicate that company still continue policy of earnings management at least until three year after IPO. Furthermore examination to underpricing using initial return ( Rt), proving that company executing IPO experience of underpricing on first when share traded in market sekunder. Mean of Initial return on first of trading in capital market is positive, even happened positive return until the third month a period of trading, afterthat happened degradation of return by the end of year (December). Although there no difference which signifikan of performance of finance before and after IPO, result of examination prove that company executing IPO experience of degradation of performance of finance, whereas performance of market show there is difference of return [of] before IPO by return [is] first day [of] trading [in] Stock Exchange Market, and there is downhill tendency after IPO especially by the end of year. If connected third the above phenomenon, in general the researcher cannot prove relation between policy earnings management, phenomenon underpricing, and the company market performance and finance performance conducting IPO.

Keywords: Initial Public Offerings (IPO), Earnings Management, underpricing and performance of company

Etika Penggelapan Pajak Perspektif Agama: Sebuah Studi Interpretatif

Ika Alfi Nur Izza
Ardi Hamzah


The aim of this research to know, understand and interpretive of tax embezzlement ethics, religion perspective namely Islamic and Chiristian religion. Hence, this research is developed based on interpretive paradigm. The approach and technique of phenomenology analysis used to explore comprehensive meaning of tax embezzlement ethics, religion perspective namely Islamic and Christian religion. The result of this research prove according to Islam that the tax embezzlement is not ethics from regulation facet what making by government, because regulation made by government about tax this time have come near the perfection. According to Christian that the tax embezzlement sometime have ethics because taxpayer know the mean of tax and its important but its reality still a lot of apparatus do the corruption so that society do not want to pay for tax. But Islam also say that the tax embezzlement is ethics in seeing from present condition, that is development a lot still not yet realization though taxpayer have paid its tax, so that taxpayer assume the tax payment is a theft. Christendom also say that the tax embezzlement is ethics in seen from Indonesia condition in this time that is to the number of tax apparatus do the corruption from result of tax money, so that make taxpayer do not want to pay for tax.
Key words: Islam, Christian, ethics, tax, embezzlement

Etika dan Perilaku Koruptif dalam Praktif Manajemen Laba: Studi Hermeneutika-Kritis

Sekolah Tinggi Ilmu Ekonomi Indonesia (STIESIA) Surabaya


The purpose of this study is to obtain understanding about the opinion and attitude of informants–that are accounting educator, management accountant, public accountant, investment advisor, credit analyst and tax auditor – on earnings management practices performed by managers. This study is motivated by previous studies findings that disclosed a riility that earnings managament practices is a facticity in enterprises financial reporting under various motivations and interests. Based on qualitative approach and analysis, or particularly named as an interpretive or a hermeneutic approach, the result of this study gives an understanding that informants had the different opinion and attitude on earnings management practices. In the accountants’ and tax auditor’s perspective, earnings management practices can’t be viewed as an earnings manipulation along that practices are performed in the accounting standards frame. Accountants also to give the opinion that earnings management practices can’t be viewed as a corruptive behaviour, except that practices are not perform according to accounting standards. However, in the investment advisor’s and credit analyst’s perspectives, earnings management practices performed under any patterns and strategies are the reflection of a corruptive behaviour motivated by corrupted mind. They give the opinion that earnings management practices always perform sistematically under certain motivation and interest. Earnings management are unvaluable practices for enterprise’ stakeholders; therefore, that practices must be rejected. Implications of this study are the rising of the needs for: (a) simpliflying application of accrual accounting for riil business transactions and events where the fairness can be verified in the real world; and (b) reducing flexibility in accounting method choices.

Key-Words: Accrual accounting, earnings management, corruptive behaviour, corrupted mind.

Studi Fenomenologis: Menguak Partisipasi Masyarakat dalam Proses Penyusunan APBD

Universitas Widyagama Malang
Mahasiswa PDIA Universitas Brawijaya Malang


The main aim of this research is to open participation phenomenon on local government budgeting process at Pemerintah Kota Malang. Hence, this research is developed based on interpretive paradigm. The approach and technique of phenomenology analysis used to explore comprehensive meaning of participation phenomenon on local government budgeting process. The result of this research participation phenomenon on local government budgeting process as according to mechanism arranged in Law No 25 2004. Other result show, that participation phenomenon on local government budgeting process still be assumed Utopis because the low of socialization to public so that only certain public of which can access information and proposes program, and when mechanism of Musrenbangkot is desisted hence compilation step of APBD hereinafter more in dominating politics problem.

Key Words: Participation, local government budgeting process, phenomenology

Refleksi Kinerja Manajemen Perbankan Syariah dalam Perspektif Amanah: Sebuah Studi Fenomenologis

Universitas Negeri Gorontalo
Universitas Brawijaya
Gugus Irianto
Universitas Brawijaya


The objective of research seems to understand the performance of syariah banking management at Muamalat Bank of Gorontalo Branch through amanah perspective. Research evolves within smaller management context, especially in the syariah banking branch management. Therefore, Muamalat Bank of Gorontalo Branch becomes a research object. Withstanding this objective, research employs interpretive-qualitative method with phenomenological approach to explore the problem and reality. Data types involve primary data collected from words and attitudes, and secondary data emanated from archive-based documentation and financial statement. Data collection techniques include interview, activity observation, and documentary review. Result of research indicates the synthesis of the understanding of the performance of syariah banking management being as the empirical finding with four understandings, especially related to the establishment of profit, ukhuwah (kinship), trust and compliance to ethic of syariah. Considering this understanding, while analyzed through amanah perspective, hence syariah banking management bears on three types of amanah. First, it stands for the profit-oriented business organization to interest of shareholder and creditor. It has a responsibility to central management and capital provider. Second, it remains as the social organization. It does not reflect purely the social organization with merely public service as the core business, because it also gives organizational contribution to management’s social responsibility in the development and empowerment of employee, other community and wider society. Finally, it represents as spiritual organization seen through the managerial awareness to grow and develop the spirituality of employee, customer, wider society and syariah demand. It may be explained that these three types of amanah of managerial performance only concern with syariah-based spirituality.

Keywords: managerial performance, syariah banking, and amanah

Koreksi Konsep Nilai Tambah Syari'ah: Menimbang Pemikiran Konsep Dasar Teoritis Laporan Keuangan Akuntansi Syariah

Andik S. Dwi Saputro
Mahasiswa S1 Jurusan Akuntansi Fakultas Ekonomi Universitas Brawijaya
Iwan Triyuwono
Universitas Brawijaya


Until now, have not many Shari'ah accounting thinkers and researchers who perform critical review of the various Shari’ah accounting concepts. This research done in order to view critically one of Shari’ah accounting concept, that is Shari’ah value added concept. This research provides a comparison study as considerations for Shari’ah accounting researchers to develop the Shari’ah accounting concept remain in the Shari’ah corridor. This research applies a qualitative approach by the concept of criticism in Islam as a method and makes use of Islamic economics concept as an analytical instrument. Further, by using the three concepts that are in the scope of Islamic economic thought as an indicator, the researchers analyze and criticism the critics object, that is Shari’ah value added concept. The indicators are Islamic ethics in muamalah, the concept of income distribution, and the principle of simplicity. Results from this research indicate that there is some part of the concept of value added that has the potential counter-productive to the development of Shari’ah accounting. First, definition of value added has the potential to return capitalist values in Shari’ah accounting through ethics utilitarianism. Second, definition and the concept of value added shows that the distribution of welfare in the concept of value added is only for the limited stakeholders. Third, in some cases, the format of value added reports have not show simplicity principle in Islam.

Keywords: Shari'ah value added, distribution, akhlak, simplicity principle, and Islamic criticism method

Social Contruction of Financial Reporting Practice in An Indonesia Insurance Company: Javanese Culture Perspective

Anis Chariri
Fakultas Ekonomi
Universitas Diponegoro, Semarang, Indonesia


This study is a case study conducted in an Indonesian insurance company. The aim of the study is to understand the dynamics of financial reporting in the company. Ontologically, this study is built on a belief that financial reporting practice is a socially constructed reality. As a socially constructed reality, such a practice involves an interaction among social actors, and between organisational actors and the institutional and cultural environment in which the company operates. The main research question of this study is how organisational culture influences the company on the construction of its financial reporting practice. This study reveals that the company is committed to quality financial reporting because such reporting can be used to gain legitimacy and to maintain social harmony. The company conducts itself in this way is because it reflects Javanese culture, a dominant culture in Indonesia. Furthermore, this study concludes that the way the actors in the company construct financial reporting practice is influenced by its organisational culture. The organisational culture of the company, which reflects Javanese culture, is able to shape the behaviour of its actors from the top level to lower levels to conduct ethical and transparent business practice. Thus, as Hines (1988) claims, this paper concludes that financial reporting practice is a socially constucted reality.

Key words: organisational culture, Javanese culture, financial reporting, social construction
This study claims that ontologically, financial reporting is a socially constructed reality that can shape, and be shaped by powerful actors and institutional environments. As a socially constructed reality, organisational actors can construct financial reporting so as to gain legitimacy and show that their organisation operates in accordance with socially acceptable beliefs, values and norms. Hurst (1970) argues that one of the functions of accounting, including corporate financial reports, is to legitimate the existence of the corporation. The role of corporate financial reporting is to inform a society that an organisation’s actions are accountable, and that they conform to social values and norms.

Manajemen Laba pada Perusahaan yang Melanggar Perjanjian Utang

Politeknik YDHI Yogyakarta
Universitas Gadjah Mada Yogyakarta


This research aims to give empirical evidence concerning earnings management in firms violating debt covenant and to test whether earnings management in those firms are larger than that in control firms. Research population is manufacturing company listed at Bursa Efek Jakarta. The sample includes 13 firms violating debt covenant and 20 firms as control firms. The sampling method is purposive sampling. Method of statistics used is t-test. The statistic test of first hypothesis shows that mean of discretionary accruals at a year before violation is significantly larger than that at the year debt covenant violation. This result supports debt covenant hypothesis. But, mean difference at the year of violation and at a year after violation does not provide the support for the hypothesis. The statistic test of second hypothesis shows that mean of discretionary accruals of firms violating debt covenant at a year before and at the year violation of debt covenant is not significantly larger than that of control firms. Thus, we can conclude that there are other factors besides violation of debt covenant that motivate management to perform earnings management.

Keywords: Earnings Management, Debt Covenant Hypothesis, Debt Covenant Violation, Discretionary Accruals

Retorika dalam Pelaporan Corporate Social Responsibility: Analisis Semiotik atas Sustainability Reporting PT Aneka Tambang Tbk.

Anis Chariri
Firman Aji Nugroho
Fakultas Ekonomi Universitas Diponegoro


This research is aimed to understand corporate social (CSR) responsibility reporting of a company by answering research questions: how and why the company designed such report to build corporate image. Ontologically, this study is build on a belief that CSR reporting is a communication medium used by a company to build image and to gain legitimacy. This research was carried out within intepretive paradigm using semiotic approach. By employing semiotic analysis, this research showed that corporate social responsibility reporting has been designed by the company as a rethorical story to build a positive image that the company is concerned with social and environmental issues. By doing so, the company actively seeks reporting strategies to gain legitimacy from its stakeholders.

Keywords: corporate social responsibility, sustainability reporting, semiotic, rhetorics

Semiotika Laba Akuntansi: Studi Kritikal Pormodernis Derridean

Sekolah Tinggi Ilmu Ekonomi Indonesia (STIESIA) Surabaya
Fakultas Ekonomi Universitas Brawijaya Malang


The main aims of the research are (a) to understand the interpretation of accounting earnings by accountants and non-accountants; and (b) to perform a deconstructively semiotics-reading about the text related with their interpretations of accounting earnings. This research is performed based on criticalpostmodern approach, with accountants and non-accountants as an informant. The semiotics reading and analysis are performed in three levels, that are micro level structural-semiotics, macro level structuralsemiotics, and decostructive-semiotics. The analysis in the micro level structural semiotics gives the understanding that interpretation of accounting earnings (as a signifier) by accountants and non-accountants do not refer to the same referential reality (as a signified). The analysis in the macro level structural semiotics expresses realities that (a) accounting principles are not “generally accepted”; (b) accounting practices are hegemonical; (c) accounting practices are “ritually” performed based on the false consciousness; and (d) accounting earnings do not have information contents. Then, based on the Jacques Derrida’s philosophy, deconstructive semiotics analysis expresses some realities that are (a) accounting earnings are traces, either the trace as a history of text or as an experience and interest of interpreter; (b) nothing outside the text of accounting earnings because the meanings of accounting earnings are intertextual, accounting earnings are the result of simulation only, and the meanings of accounting earnings do not exceed the experience and interest of interpreter; (c) accounting earnings are the metaphysics of presence, in the means of “being” and “presence” through the process called “becoming”, representation of “the being of beings” realities, so that accounting earnings are illusion ended to reification; (d) accounting earnings are the product of logocentrism, that is ratio as a centre of truth, so that accounting idealism in earnings determination is more conspicuous than pragmatism. The implications of the analysis result above are (a) the presentation of income statements ought to be disclose earnings information according to the frame of pragmatic interpretation; (b) the reporting of earnings information should not be conspicuous the idealism only, because the end users of earnings information are those who live in pragmatic habitus. (c) accounting idealism ougth to limits the implementation of accrual-based accounting to real transactions or events, or reduce its implementation to ideal or conceptual transactions.

Key-words: Accounting Earnings, Structural-Semiotics, Deconstructive-Semiotics, Logocentrism, Idealism, Pragmatism, Jacques Derrida

Exploring Accounting and Its Perseverance in Javanese Ceremonies (Slametan) Through Hermeneutic-Phenomenological Study

Nurmala Ahmar, STIE Perbanas Surabaya
Ari Kamayanti, STIE Mahardhika Surabaya


Slametan as Javanese ceremonies has been present ever since Islam arrived in Java and mingled with the previous religions such as Hindu and Buddha. Up to this day, slametan is still conducted and in the process there are social activities that involve the giving/receiving of goods and cash called buwuh or ndeleh. There are many varieties of slametan but this paper focuses on marriage and circumcision. This paper tries to explore the presence of accounting and its underlying values through a combination of two methods: hermeneutics and phenomenology. Hermeneutics involve interpretation of ancient texts that go back as far as 1030 AC, as well as interpretation of photographs. Phenomenology involves understanding experience and peeling off consciousness right down to metaphysical beliefs. To holistically understand accounting in Javanese and how it survives up to this day in 2009 AC (its perseverance), a synchronic analysis is needed; i.e. combining interpretation of ancient texts and recent experiences. It is found that although physical recordings do exist, mental recordings are just as important. However, the values that are not left behind that might be the cause of accounting perseverance in slametan are cohesiveness /togetherness among the people, and spiritual as well as religious beliefs that would give rise to social obligations, mental recordings, and soul-spiritual profit.

Keywords: Slametan, buwuh, ndeleh, Javanese, social obligations, mental recordings, soul-spiritual profit.

1. Introduction
In the globalization era, one might question the importance of exploring local needs and values through culture. The answer to that simple question lies in this proverb that is rooted from Javanese philosophy: “Budaya iku dadi kaca benggalaning bangsa”. This means that a culture is a big mirror that reflects civilization of a nation (Herusatoto, 2002: 1). Thus, an argument that could be proposed for the reason to conduct this research is to preserve a nation civilization because by following an international standard, local norms and culture would be eroded as globalization suggests a drive toward homogenization (Cooper et al., 2003). Globalization would result in cultural alienation or cultural ‘cringe’ i.e. losing a nation’s identity.

Through Gentle Beauty and Subtle Love in Performance Measurements: Introducing a Balanca in The Balanced Scorecard (BSC) and Management Accounting Accountability

Ari Kamayanti1
STIE Mahardhika Surabaya


Celebrating the seventeenth anniversary of the Balanced Scorecard (BSC) since it was born in 1992, this paper revisits its concept as one of the landmarks in performance measurement. The BSC turns out to be ‘not so balanced’ since it lacks certain beauty and love. It hinges on accountability to certain interests when measuring performance, negating or putting other interests as minority. Thus, it fits perfectly with the aim of management accounting that puts managers and customers as priorities. The imbalance comes from secularism and overemphasis in rationalism. Sustainability that becomes the current issue nowadays would not be supported by such performance measurement. In order to insert this balance, a methodology by taking a metaphor of nurturing mother is applied in this research that encompasses gentle beauty and subtle love. Gentle beauty refers to a complete harmony of beauty: irrational and the rational; this means introducing those that have been left out in the name of rationality such as religions and spiritualism. Subtle love refers to love towards God that is expressed subtly without lust to overpower. The result is a more balanced set of performance measurements that are filled with beauty and love, insyaAllah.

Keywords: Balanced Scorecard (BSC), accountability, sustainability, gentle beauty, subtle love
Is not it interesting that conservatism is one of the principles in accounting? This raises deep question: is accounting built upon a catastrophe or a state of decay upon viewing reality? Conservatism is based on suspicion and fear of the unseen future. Conservatism principle in accounting regards that a choice of accounting standard must be based on the effect of the least benefit it gives to the equity of stockholders. It is pessimistic in nature (Belkaoui, 2004: 288). One might say that this is not so; that this is a concept brought upon a careful versus careless stance. However, it is in fact is rooted from a source, an overwhelming rationality.

Degree of Tax Payer Compliance and Tax Tariff The Testing on Impact of Income Types

Universitas Airlangga
Universitas Airlangga


The research was intended to investigate the relationship between tax tariff and the compliance of tax payer; and how this relationship was affected by type of income (endowed income vs earned income). The degree of the tax payer compliance was measured based on reported income. The treatment of the experiment was conducted in accordance with variables of reported income (endowed v.s. earned income) and variables of tax tariff (15% vs 30%). The testing results on the impact of endowed income towards the degree of tax payer compliance indicated that there was no distinct  difference on the degree of tax payer compliance towards the application of lower tax tariff of 15% as well as higher tax tariff of 30%. This premise possibly resulted from the nature of the participants as a risk averse receiving endowed income, providing that how hard they worked, they received constant amount of incomes. The testing toward participants receiving earned income revealed that they responded positively toward the increase of tax tariff by encouraging the degree of compliance to report their tax. This issue is in line with economics theory stating that tax-evasion-gamble brings higher risks whenever the tax tariff rises. Thus, the risk faced by the tax payer will increase in the line with the incline of audit and penalty probability.

Key words: tax payer compliance, tax tariff, earned income, endowed income

Variabel-variabel yang Mempengaruhi Fenomena Underpricing pada Penawaran Saham Perdana di BEJ Tahun 1994-2001

KAP Prasetyo Sarwoko & Sandjaja/Ernst & Young
Dosen Departemen Akuntansi FEUI


Underpricing is phenomenon of IPO which often happened in capital market and have been proved by researchers in many countries. This research aim to prove phenomenon of underpricing in Bursa Efek Jakarta at 1994-2001 and study the factors influencing of underpricing. This research uses mean adjusted return as underpricing measurement. Independent variables of the research are reputation of undwewriting, rate of foreign currency, total asset, ROE and industrial type. The research use multiple regression model to test the relationship between dependent and independent variabel This research result prove that phenomenon of underpricing happened in BEJ at 1994 - 2001 and consistent with researchs before in BEJ. The level of underpricing during periode is 38%. Rate of foreign currency, total asset, ROE and industrial type significantly correlated to underpricing. In this model, only reputation of underwriting that not significantly correlated to underpricing.

Key Words: Underpricing, Initial Return, IPO, Reputasi Penjamin Emisi, Kurs, Total Aktiva, ROE, Jenis Industri


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