Praktik Manajemen Laba Riil pada Indeks JII dan LQ45 Bursa Efek Indonesia

Abstract

Earnings management is a phenomenon that is difficult to avoid because the impact of using the accrual basis for preparation of financial statements. The previous studies of earning management focus on accrual-based earnings management (Cohen and Zarowin, 2010; Gul and Tsui, 2001; Louis and Robinson, 2005; Aljifri, 2007; Hastuti dan Hutama, 2010). The recent studies of earning management indicate the important of manipulate real activities more than accrual basis (Roychowdhury, 2006; Gunny, 2005; Cohen et al., 2008; Cohen dan Zarowin, 2010). The survey by Graham, Harvey dan Rajgopal (2005) found the top managements more involve in earning management than accrual to reach earning target. The purpose of this study is to analyze the difference of real earnings management between the shariah index (JII) and conventional index (LQ-45). These samples are 201 and 260 companies listed in Indonesian stocks exchange from 2004-2013 periods. The analysis used Mann Whitney U test. The result shows the mean value of real management on the companies listed in the LQ 45 is higher than the companies in the JII index. The most companies which listed in JII dan LQ 45 manipulate the real earning management by manipute their cost production. Statistical test shows that there is not significant differences in real earnings management between companies in the shariah index and conventional index (prob.value = 0.558). It is consistent with Nugroho(2011) which found that there is no differences accrual earning management between companies listed in JII and LQ 45.