Logistic Regression Model for Assessing Factors Affecting Timeliness of Financial Statement Submission
Abstract
Financial information is helpful if it fulfills fundamental characteristics. One of these characteristics is timeliness. This article aims to examine the elements that affect financial statement timeliness. This research is conducted on mining companies listed on the Indonesian stock exchange from 2016 to 2018. The data analyzed were panel data of 69 observations obtained from 23 companies over three years. The data was processed using Eviews9 and logit regression analysis techniques. The investigation demonstrates that the current ratio has a considerable favorable influence on the timeliness of financial statements for a variety of mining businesses listed on the Indonesian Stock Exchange (IDX) between 2016 and 2018. On the other hand, return on assets, and company size has no significant effect on the timeliness of financial statements. The implication of the results of this study is that better regulations are needed to improve public companies in submitting financial reports on time. Published financial statements are information for making informed decisions by interested users.
Keywords : Current Ratio; Return on Asset; Company Size; Financial Statement; Logistic Regression Model.
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References
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Indrayenti, & Ie, C. (2016). Analisis faktor-faktor yang mempengaruhi ketepatan waktu penyampaian laporan keuangan pada perusahaan manufaktur. Jurnal Akuntansi & Keuangan, 7(1), 121–135.
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Rahmawati, E. (2018). Information content and determinants of timeliness financial reporting: Evidence from an emerging market. Academy of Accounting and Financial Studies Journal, 22(4), 1–15.
Raihani, A. S., Prasetyo, T. J., & Dharma, F. (2019). Factors Affecting the Delay of Company Financial Statements. International Journal for Innovation Education and Research, 7(12), 246–255. https://doi.org/10.31686/ijier.vol7.iss12.2044
Rakhman, F., & Wijayana, S. (2019). Determinants of financial reporting quality in the public sector: Evidence from Indonesia. International Journal of Accounting, 54(3), 1–35. https://doi.org/10.1142/S1094406019500094
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Sengupta, P. (2004). Disclosure timing: Determinants of quarterly earnings release dates. Journal of Accounting and Public Policy, 23(6), 457–482. https://doi.org/10.1016/j.jaccpubpol.2004.10.001
Soltani, B. (2002). Timeliness of corporate and audit reports: Some empirical evidence in the French context. The International Journal of Accounting, 37(2), 215–246. https://doi.org/https://doi.org/10.1016/S0020-7063(02)00152-8
Suadiye, G. (2019). Determinants of the timeliness of financial reporting: empirical evidence from turkey. Hacettepe University Journal of Economics and Administrative Sciences, 37(2), 365–386. https://doi.org/10.17065/huniibf.399838
Türel, A. (2010). Timeliness of Financial Reporting in Emerging Capital Markets: Evidence from Turkey. European Financial and Accounting Journal, 5(3), 113–133. https://doi.org/10.18267/j.efaj.58
Umobong, A. (2015). Assessing the Impact of Liquidity and Profitability Ratios on Growth of Profits in Pharmaceutical Firms in Nigeria. European Journal of Accounting, Auditing, and Financial Resources, 3(10), 97–114.
Zandi, G., & Abdullah, N. (2019). Financial statements timeliness: The case of Malaysian listed industrial product companies. Asian Academy of Management Journal, 24, 127–141. https://doi.org/10.21315/aamj2019.24.s2.9
Ahmed, A. A. A., & Hossain, S. (2010). Audit Report Lag: A Study of the Bangladeshi Listed Companies. ASA University Review, 4(2). https://doi.org/10.2139/ssrn.3406733
Al-Juaidi, O., & Al-Afifi, A. A. M. (2016). The Factors Affecting Timeliness of Corporate Financial Reporting: Empirical Evidence from the Palestinian and Amman Stock Exchange. International Journal of Management Sciences and Business Research, 5(10), 123–135.
Alkhatib, K., & Marji, Q. (2012). Audit Reports Timeliness: Empirical Evidence from Jordan. Procedia - Social and Behavioral Sciences, 62, 1342–1349. https://doi.org/10.1016/j.sbspro.2012.09.229
Asmara, R., & Situanti, R. (2018). The Effect of Audit Tenure and Firm Size on Financial Reporting Delays. International Journal of Economics and Business Administration, 6(3), 115–126. https://doi.org/10.35808/ijeba/170
Astuti, W., dan Teguh, E., (2016). Pengaruh Profitabilitas, Umur Perusahaan dan Ukuran Perusahaan dan Ukuran Perusahaan terhadap Ketepatan waktu Penyampaian Laporan Keuangan Perusahaan (studi pada perusahaan manufaktur yang terdaftar di BEI tahun 2012-2016). Jurnal Kajian Bisnis, 26(2), 144-15.
Atiase, R., Bamber, L., & Senyo, T. (1989). Timeliness of financial reporting, the firm size effect, and stock price reactions to annual earnings announcements*. Contemporary Accounting Research, 5(2), 526–552. https://doi.org/https://doi.org/10.1111/j.1911-3846.1989.tb00722.x
Bagnoli, M., Kross, W., & Watts, S. G. (2002). The Information in Management’s Expected Earnings Report Date: A Day Late, a Penny Short. Journal of Accounting Research, 40(5), 1275–1296. https://doi.org/https://doi.org/10.1111/1475-679X.t01-1-00054
Danaatmaja, A.R., dan Suzan, L., (2016). Pengaruh Rasio Keuangan Terhadap Ketepatan Waktu Penyampaian Laporan Keuangan (studi empiris pada perusahaan pertambangan yang terdaftar di BEI periode 2012-2016). E-Proceeding of Management, 5(1).
Dewi, D. K., Winanto, W., dan Putra, M., (2016). Pengaruh likuiditas, profitabilitas, leverage, ukuran perusahaan dan struktur kepemilikan terhadap ketepatan waktu pelaporan keuangan pada perusahaan manufaktur yang terdaftar di BEI tahun 2014-2016. Skripsi, Fakultas ekonomi Warmadewa
Dewi, N. P. Y., Novitasari, N. L. G., & Dewi, N. L. P. S. (2021). Pengaruh profitabilitas, likuiditas, ukuran perusahaan, dan leverage terhadap ketepatan waktu penyampaian laporan keuangan. 3(2), 243–254.
Durand, G. (2019). The determinants of audit report lag: a meta-analysis. Managerial Auditing Journal, 34(1), 44–75. https://doi.org/10.1108/MAJ-06-2017-1572
Fili, M., & Wahyuningsih, D. (2020). Pengaruh return on assets, current ratio, dan deb to equity ratio terhadap ketepatan waktu penyampaian laporan keuangan. Widyakala Journal, 1(1), 135–146. https://doi.org/10.36262/widyakala.v3i0.21
Graham, J. R., Harvey, C. R., & Rajgopal, S. (2005). The economic implications of corporate financial reporting. Journal of Accounting and Economics, 40(1–3), 3–73. https://doi.org/10.1016/j.jacceco.2005.01.002
Gulec, Ö. (2017). Timeliness of Corporate Reporting in Developing Economies: Evidence From Turkey. Journal of Accounting and Management Information Systems, 16, 219–239. https://doi.org/10.24818/jamis.2017.03001
Ha, H. T. V., Hung, D. N., & Phuong, N. T. T. (2018). The study of factors affecting the timeliness of financial reports: The experiments on listed companies in Vietnam. Asian Economic and Financial Review, 8(2), 294–307. https://doi.org/10.18488/journal.aefr.2018.82.294.307
Hamidi, G, & Rasouli, H. (2016). Evaluation of the Relationship between Accounting Variables and Timelines of Annual Reports of Accepted Companies in Tehran Stock Exchange. Mediterranean Journal of Social Sciences, 7(4), 117–123. https://doi.org/10.5901/mjss.2016.v7n4s2p117
Hamidi, Ghasem, & Rasouli, H. (2016). Evaluation of the Relationship between Accounting Variables and Timelines of Annual Reports of Accepted Companies in Tehran Stock Exchange. Mediterranean Journal of Social Sciences, 7(4), 117–123. https://doi.org/10.5901/mjss.2016.v7n4s2p117
Hastutik, S. (2015). Pengaruh Profitabilitas, Likuiditas, Struktur Kepemilikan, Ukuran Perusahaan, dan Opini Audit terhadap Ketepatan Waktu Pelaporan Keuangan Perusahaan. 11, 101–106.
Indrayenti, & Ie, C. (2016). Analisis faktor-faktor yang mempengaruhi ketepatan waktu penyampaian laporan keuangan pada perusahaan manufaktur. Jurnal Akuntansi & Keuangan, 7(1), 121–135.
Kasmir. (2019). Analisis Laporan Keuangan. Raja Grafindo Persada.
Kusumawardani, R., & Priyadi, M. P. (2018). Pengaruh Ukuran Perusahaan, Umur Perusahaan, dan Leverage terhadap Ketepatan Waktu Pelaporan Keuangan dengan Profitabilitas sebagai Moderating. Jurnal Ilmu Dan Riset Akuntansi, 7(5), 1–17. http://jurnalmahasiswa.stiesia.ac.id/index.php/jira/article/download/200/204
Lukason, O., & Camacho-Miñano, M.-M. (2019). Bankruptcy Risk, Its Financial Determinants and Reporting Delays: Do Managers Have Anything to Hide? In Risks (Vol. 7, Issue 3). https://doi.org/10.3390/risks7030077
Rahmawati, E. (2018). Information content and determinants of timeliness financial reporting: Evidence from an emerging market. Academy of Accounting and Financial Studies Journal, 22(4), 1–15.
Raihani, A. S., Prasetyo, T. J., & Dharma, F. (2019). Factors Affecting the Delay of Company Financial Statements. International Journal for Innovation Education and Research, 7(12), 246–255. https://doi.org/10.31686/ijier.vol7.iss12.2044
Rakhman, F., & Wijayana, S. (2019). Determinants of financial reporting quality in the public sector: Evidence from Indonesia. International Journal of Accounting, 54(3), 1–35. https://doi.org/10.1142/S1094406019500094
Savitri, E., -, A., & Surya, R. A. S. (2019). Influencing Factors:The Timeliness of Financial Reporting Submissions. Business and Management Studies, 5(1), 43. https://doi.org/10.11114/bms.v5i1.4144
Sengupta, P. (2004). Disclosure timing: Determinants of quarterly earnings release dates. Journal of Accounting and Public Policy, 23(6), 457–482. https://doi.org/10.1016/j.jaccpubpol.2004.10.001
Soltani, B. (2002). Timeliness of corporate and audit reports: Some empirical evidence in the French context. The International Journal of Accounting, 37(2), 215–246. https://doi.org/https://doi.org/10.1016/S0020-7063(02)00152-8
Suadiye, G. (2019). Determinants of the timeliness of financial reporting: empirical evidence from turkey. Hacettepe University Journal of Economics and Administrative Sciences, 37(2), 365–386. https://doi.org/10.17065/huniibf.399838
Türel, A. (2010). Timeliness of Financial Reporting in Emerging Capital Markets: Evidence from Turkey. European Financial and Accounting Journal, 5(3), 113–133. https://doi.org/10.18267/j.efaj.58
Umobong, A. (2015). Assessing the Impact of Liquidity and Profitability Ratios on Growth of Profits in Pharmaceutical Firms in Nigeria. European Journal of Accounting, Auditing, and Financial Resources, 3(10), 97–114.
Zandi, G., & Abdullah, N. (2019). Financial statements timeliness: The case of Malaysian listed industrial product companies. Asian Academy of Management Journal, 24, 127–141. https://doi.org/10.21315/aamj2019.24.s2.9
Published
2021-12-09
How to Cite
RUMIYANI, Eri Ayu et al.
Logistic Regression Model for Assessing Factors Affecting Timeliness of Financial Statement Submission.
E-Jurnal Akuntansi, [S.l.], v. 31, n. 12, p. 3000-3010, dec. 2021.
ISSN 2302-8556.
Available at: <https://ojs.unud.ac.id/index.php/akuntansi/article/view/72996>. Date accessed: 19 apr. 2024.
doi: https://doi.org/10.24843/EJA.2021.v31.i12.p05.
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