CSR Disclosure on Earnings Management with the Presence of Women in the GCG Structure
Abstract
This study examines the effects of Corporate Social Disclosure (CSR) on earnings management with the presence of woman in the Good Corporate Governance (GCG) as moderating variable. The sampling method used was purposive sampling with the criteria of companies listed in the LQ45 index on the Indonesia Stock Exchange and published annual reports and sustainability reports during 2013-2017 period. The data analysis technique used is Moderated Regression Analysis. This study concludes that disclosure of CSR has a positive effect on earnings management. CSR disclosure if accompanied by the presence of women on the audit committee that represents a proxy for the variable of the presence of women in the GCG structure negatively affects earnings management. The results of this study are in line with the theory of the political cost hypothesis which states that companies that have high political costs tend to do earnings management.
Keywords: Earnings management, disclosure of corporate social responsibility, good corporate governance
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References
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Alsaadi, A., Ebrahim, M. S., & Jaafar, A. (2017). Corporate Social Responsibility, Shariah-Compliance, and Earnings Quality. Journal of Financial Services Research, 51(2), 169–194. https://doi.org/10.1007/s10693-016-0263-0
Ardiani, N. L. N., & Sudana, I. P. (2018). Pengaruh Corporate Social Responsibility Pada Manajemen Laba. E-Jurnal Akuntansi Universitas Udayana, 24(3), 2333–2359. https://doi.org/10.24843/EJA.2018.v24.i03.p26
Debnath, N. C., Patnaik, B. C. M., & Satpathy, I. (2019). Female Directorship and Real Earnings Management in Bangladesh: Towards an Analytical Assessment. Management Science Letters, 9(9), 1723–1740. https://doi.org/10.5267/j.msl.2019.6.018
Diri, M. El. (2017). Introduction to Earnings Management. Switzerland: Springer International Publishing AG 2018. https://doi.org/10.1007/978-3-319-62686-4_3
Eagly, A. H. (1987). Sex Differences in Social Behavior: A Social-Role Interpretation. Hillsdale: Erlbaum.
Gras-Gil, E., Palacios Manzano, M., & Hernández Fernández, J. (2016). Investigating the relationship between corporate social responsibility and earnings management: Evidence from Spain. BRQ Business Research Quarterly, 19(4), 289–299. https://doi.org/10.1016/j.brq.2016.02.002
Jacobsen, B., Lee, J. B., & Zhang, C. (2014). Gender Differences in Optimism and Asset Allocation. Journal of Economic Behavior & Organization, 107, 630–651. https://doi.org/10.1016/j.jebo.2014.03.007
Jensen, M. C., & Meckling, W. H. (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics. https://doi.org/10.1016/0304-405X(76)90026-X
Jordaan, L. A., de Klerk, M., & de Villiers, C. J. (2018). Corporate social responsibility and earnings management of South African companies. South African Journal of Economic and Management Sciences, 21(1), 1–13. https://doi.org/10.4102/sajems.v21i1.1849
Khabibah, N. A., & Suryatimur, K. P. (2019). Gender, Budaya dan Kualitas Laba. Prosiding Seminar Nasional Dan Call For Papers Fakultas Ekonomi Universitas Tidar, 217–231.
Kori, M. O. D., & Rasmini, N. K. (2017). Struktur Good Corporate Governance sebagai Pemoderasi Pengaruh Asimetri Informasi pada Manajemen Laba. E-Jurnal Akuntansi Universitas Udayana, 21(1), 144–172.
Kurniawan, T., Sofyani, H., & Rahmawati, E. (2018). Pengungkapan Sustainability Report dan Nilai Perusahan: Studi Empiris di Indonesia dan Singapura. Kompartemen: Jurnal Ilmiah Akuntansi, 16(1), 1–20. https://doi.org/10.30595/kompartemen.v16i1.2100
Kyaw, K., Olugbode, M., & Petracci, B. (2015). Does gender diverse board mean less earnings management? Finance Research Letters, 14, 135–141. https://doi.org/10.1016/j.frl.2015.05.006
Lakhal, F., Aguir, A., Lakhal, N., & Malek, A. (2015). Do Women on Boards and in Top Management Reduce Earnings Management? Evidence in France. Journal of Applied Business Research, 31(3), 1107–1118.
Maula, K. A., & Rakhman, A. (2018). Pengaruh Board Diversity (CEO Wanita, CFO Wanita, Proporsi Dewan Komisaris Wanita, Proporsi Komite Audit Wanita) Terhadap Pelanggaran Aturan Laporan Keuangan. Journal of Applied Accounting and Taxation, 3(01), 431–445.
Muttakin, M. B., Khan, A., & Azim, M. I. (2015). Corporate social responsibility disclosures and earnings quality Are they a reflection of managers’ opportunistic behavior? Managerial Auditing Journal, 30(3), 277–298. https://doi.org/10.1108/maj-02-2014-0997
Novilia, O., & Nugroho, P. I. (2016). Pengaruh Manajemen Puncak Wanita Terhadap Manajemen Laba. Dinamika Akuntansi, Keuangan Dan Perbankan, 5(1), 27–45.
Octaviani, S., & Kartikaningdyah, E. (2019). Effect of Corporate Governance (Woman’s Executive Board), Company Size and Leverage on Profit Managemen. Journal of Applied Managerial Accounting, 3(1), 58–72.
Palacios-Manzano, M., Gras-Gil, E., & Santos-Jaen, J. M. (2019). Corporate social responsibility and its effect on earnings management: an empirical research on Spanish firms. Total Quality Management and Business Excellence, 0(0), 1–17. https://doi.org/10.1080/14783363.2019.1652586
Paramita, N. N. E. Y., Sujana, E., & Herawati, N. T. (2017). Pengaruh Financial Distress, Risiko Litigasi dan Pengungkapan Corporate Social Responsibility terhadap Manajemen Laba. E-Journal Akuntansi S1, 1.
Peni, E., & Vähämaa, S. (2010). Female executives and earnings management. Managerial Finance, 36(7), 629–645. https://doi.org/10.1108/03074351011050343
Pradnyani, I. A. D. C., & Astika, I. B. P. (2019). Moderasi Good Corporate Governance Terhadap Pengaruh Risiko Perusahaan Pada Manajemen Laba. E-Jurnal Akuntansi Universitas Udayana, 26(2), 937–965. https://doi.org/10.24843/EJA.2019.v26.i02.p04
Prior, D., Surroca, J., & Tribó, J. A. (2008). Are socially responsible managers really ethical? Exploring the relationship between earnings management and corporate social responsibility. Corporate Governance: An International Review, 16(3), 160–177. https://doi.org/10.1111/j.1467-8683.2008.00678.x
Putriana, M., Artati, S., & Utami, V. J. (2018). Pengaruh Corporate Social Responsibility Terhadap Manajemen Laba Dengan Leverage Dan Growth Sebagai Variabel Control Pada Industri Farmasi Yang Terdaftar Di Bursa Efek Indonesia. J-MAS (Jurnal Manajemen Dan Sains), 3(2), 226. https://doi.org/10.33087/jmas.v3i2.60
Ratmono, D., Purwanto, A., & Cahyonowati, N. (2015). Hubungan Tingkat Pengungkapan dan Kinerja Corporate Social Responsibility Serta Manajemen Laba: Pengujian Teori Ekonomi dan Sosio-Politis. Jurnal Akuntansi Dan Keuangan, 16(2), 63–73. https://doi.org/10.9744/jak.16.2.63-73
Ricardo, D. M., & Faisal. (2015). Pengaruh Pengungkapan Corporate Social Responsibility Terhadap Praktik Manajemen Laba. Diponegoro Journal of Accounting, 4(2), 33–42.
Sabatini, K., & Sudana, I. P. (2019). Pengaruh Pengungkapan Corporate Social Responsibility Pada Nilai Perusahaan Dengan Manajemen Laba Sebagai Variabel Moderasi. Jurnal Ilmiah Akuntansi Dan Bisnis, 14(1), 56–69. https://doi.org/10.24843/jiab.2019.v14.i01.p06
Salancik, G. R., & Pfeffer, J. (1978). A Social Information Processing Approach to Job Attitudes and Task Design. Administrative Science Quarterly, 23(2), 224–253. https://doi.org/10.2307/2392563
Sari, A. A. I. P., & Putri, I. G. A. M. A. D. (2014). Pengaruh Mekanisme Corporate Governance Pada Manajemen Laba. E-Jurnal Akuntansi Universitas Udayana, 8(1), 94–104.
Selahudin, N. F., Fauzan, M., & Ahmad, M. (2018). Do Female Director , Audit Quality and Audit Committee Characteristics Influence the Earnings Management ? Global Business and Management Research: An International Journal, 10(3), 130–140.
Setiawan, D. (2018). Karakteristik Dewan Komisaris dan Manajemen Laba: Bukti pada Peristiwa Penawaran Saham Perdana. Jurnal Siasat Bisnis, 22(2), 164–181. https://doi.org/10.20885/jsb.vol22.iss2.art4
Setyastrini, N. L. P., & Wirajaya, I. G. A. (2017). Intensitas Pengungkapan Corporate Social Responsibility: Pengujian dengan Manajemen Laba AkruaL dan Riil. E-Jurnal Akuntansi Universitas Udayana, 19(1), 337–366.
Sidartha, A. R. M., & Erawati, N. M. A. (2017). Pengaruh Ukuran Perusahaan Dan Risiko Keuangan Pada Praktik Perataan Laba Dengan Variabel Pemoderasi Jenis Industri. E-Jurnal Akuntansi Universitas Udayana, 20(2), 1103–1132. https://doi.org/10.24843/EJA.2017.v20.i02.p09
Sulistyanto, S. (2008). Manajemen Laba, Teori dan Model Empiris. Jakarta: Grasindo.
Suryani, A., & Herianti, E. (2015). Pengaruh Pengungkapan Tanggung Jawab Sosial Perusahaan terhadap Koefisen Respon Laba dan Manajemen Laba. Simposium Nasional Akuntansi, 11, 50–63.
Susanto, Y. K. (2016). The Effect of Audit Committees and Corporate Governance on Earnings Management: Evidence from Indonesia Manufacturing Industry. International Journal of Business, Economics and Law, 10(1), 32–37.
Utama, S. M. (2016). Buku Ajar Aplikasi Analisis Kuantitatif. Denpasar: Fakultas Ekonomi Universitas Udayana.
Wardani, D. K., & Santi, D. K. (2018). Pengaruh Tax Planning, Ukuran Perusahaan, Corporate Social Responsibility (CSR) terhadap Manajemen Laba. Jurnal Akuntansi, 6(1), 11–24.
Watts, R. L., & Zimmerman, J. L. (1990). Accounting Year Theory : Ten Perspective. Review Literature And Arts Of The Americas, 65(1), 131–156. https://doi.org/10.2307/247880
Yateno, & Sari, G. P. (2016). Penguji Manipulasi Laba Real Pada Pengungkapan Corporate Social Responsibility (Studi Empiris Pada Perusahaan Manufaktur Di Bursa Efek Indonesia). Jurnal Akuisisi, 12(2), 26–36. https://doi.org/10.24127/akuisisi.v12i2.106
Yip, E., Staden, C. Van, & Cahan, S. (2011). Corporate Social Responsibility Reporting and Earnings Management: The Role of Political Costs. Australasian Accounting Business and Finance Journal, 5(3), 17–34.
Yogiswari, N. L. P. P., & Badera, I. D. N. (2019). Pengaruh Board Diversity Pada Nilai Perusahaan Dalam Perspektif Corporate Governance. E-Jurnal Akuntansi, 26, 2070. https://doi.org/10.24843/eja.2019.v26.i03.p15
Zalata, A. M., Tauringana, V., & Tingbani, I. (2018). Audit Committee Financial Expertise, Gender, and Earnings Management: Does Gender of the Financial Expert Matter? International Review of Financial Analysis, 55(March 2017), 170–183. https://doi.org/10.1016/j.irfa.2017.11.002
Zuckerman, M. (1994). Behavioral Expressions and Biosocial Bases of Sensation Seeking. (Vol. 18, Issue 6). Cambridge: Cambridge University Press.
Agustia, D. (2013). Pengaruh Faktor Good Corporate Governance, Free Cash Flow, dan Leverage Terhadap Manajemen Laba. Jurnal Akuntansi Dan Keuangan, 15(1), 27–42. https://doi.org/10.9744/jak.15.1.27-42
Alsaadi, A., Ebrahim, M. S., & Jaafar, A. (2017). Corporate Social Responsibility, Shariah-Compliance, and Earnings Quality. Journal of Financial Services Research, 51(2), 169–194. https://doi.org/10.1007/s10693-016-0263-0
Ardiani, N. L. N., & Sudana, I. P. (2018). Pengaruh Corporate Social Responsibility Pada Manajemen Laba. E-Jurnal Akuntansi Universitas Udayana, 24(3), 2333–2359. https://doi.org/10.24843/EJA.2018.v24.i03.p26
Debnath, N. C., Patnaik, B. C. M., & Satpathy, I. (2019). Female Directorship and Real Earnings Management in Bangladesh: Towards an Analytical Assessment. Management Science Letters, 9(9), 1723–1740. https://doi.org/10.5267/j.msl.2019.6.018
Diri, M. El. (2017). Introduction to Earnings Management. Switzerland: Springer International Publishing AG 2018. https://doi.org/10.1007/978-3-319-62686-4_3
Eagly, A. H. (1987). Sex Differences in Social Behavior: A Social-Role Interpretation. Hillsdale: Erlbaum.
Gras-Gil, E., Palacios Manzano, M., & Hernández Fernández, J. (2016). Investigating the relationship between corporate social responsibility and earnings management: Evidence from Spain. BRQ Business Research Quarterly, 19(4), 289–299. https://doi.org/10.1016/j.brq.2016.02.002
Jacobsen, B., Lee, J. B., & Zhang, C. (2014). Gender Differences in Optimism and Asset Allocation. Journal of Economic Behavior & Organization, 107, 630–651. https://doi.org/10.1016/j.jebo.2014.03.007
Jensen, M. C., & Meckling, W. H. (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics. https://doi.org/10.1016/0304-405X(76)90026-X
Jordaan, L. A., de Klerk, M., & de Villiers, C. J. (2018). Corporate social responsibility and earnings management of South African companies. South African Journal of Economic and Management Sciences, 21(1), 1–13. https://doi.org/10.4102/sajems.v21i1.1849
Khabibah, N. A., & Suryatimur, K. P. (2019). Gender, Budaya dan Kualitas Laba. Prosiding Seminar Nasional Dan Call For Papers Fakultas Ekonomi Universitas Tidar, 217–231.
Kori, M. O. D., & Rasmini, N. K. (2017). Struktur Good Corporate Governance sebagai Pemoderasi Pengaruh Asimetri Informasi pada Manajemen Laba. E-Jurnal Akuntansi Universitas Udayana, 21(1), 144–172.
Kurniawan, T., Sofyani, H., & Rahmawati, E. (2018). Pengungkapan Sustainability Report dan Nilai Perusahan: Studi Empiris di Indonesia dan Singapura. Kompartemen: Jurnal Ilmiah Akuntansi, 16(1), 1–20. https://doi.org/10.30595/kompartemen.v16i1.2100
Kyaw, K., Olugbode, M., & Petracci, B. (2015). Does gender diverse board mean less earnings management? Finance Research Letters, 14, 135–141. https://doi.org/10.1016/j.frl.2015.05.006
Lakhal, F., Aguir, A., Lakhal, N., & Malek, A. (2015). Do Women on Boards and in Top Management Reduce Earnings Management? Evidence in France. Journal of Applied Business Research, 31(3), 1107–1118.
Maula, K. A., & Rakhman, A. (2018). Pengaruh Board Diversity (CEO Wanita, CFO Wanita, Proporsi Dewan Komisaris Wanita, Proporsi Komite Audit Wanita) Terhadap Pelanggaran Aturan Laporan Keuangan. Journal of Applied Accounting and Taxation, 3(01), 431–445.
Muttakin, M. B., Khan, A., & Azim, M. I. (2015). Corporate social responsibility disclosures and earnings quality Are they a reflection of managers’ opportunistic behavior? Managerial Auditing Journal, 30(3), 277–298. https://doi.org/10.1108/maj-02-2014-0997
Novilia, O., & Nugroho, P. I. (2016). Pengaruh Manajemen Puncak Wanita Terhadap Manajemen Laba. Dinamika Akuntansi, Keuangan Dan Perbankan, 5(1), 27–45.
Octaviani, S., & Kartikaningdyah, E. (2019). Effect of Corporate Governance (Woman’s Executive Board), Company Size and Leverage on Profit Managemen. Journal of Applied Managerial Accounting, 3(1), 58–72.
Palacios-Manzano, M., Gras-Gil, E., & Santos-Jaen, J. M. (2019). Corporate social responsibility and its effect on earnings management: an empirical research on Spanish firms. Total Quality Management and Business Excellence, 0(0), 1–17. https://doi.org/10.1080/14783363.2019.1652586
Paramita, N. N. E. Y., Sujana, E., & Herawati, N. T. (2017). Pengaruh Financial Distress, Risiko Litigasi dan Pengungkapan Corporate Social Responsibility terhadap Manajemen Laba. E-Journal Akuntansi S1, 1.
Peni, E., & Vähämaa, S. (2010). Female executives and earnings management. Managerial Finance, 36(7), 629–645. https://doi.org/10.1108/03074351011050343
Pradnyani, I. A. D. C., & Astika, I. B. P. (2019). Moderasi Good Corporate Governance Terhadap Pengaruh Risiko Perusahaan Pada Manajemen Laba. E-Jurnal Akuntansi Universitas Udayana, 26(2), 937–965. https://doi.org/10.24843/EJA.2019.v26.i02.p04
Prior, D., Surroca, J., & Tribó, J. A. (2008). Are socially responsible managers really ethical? Exploring the relationship between earnings management and corporate social responsibility. Corporate Governance: An International Review, 16(3), 160–177. https://doi.org/10.1111/j.1467-8683.2008.00678.x
Putriana, M., Artati, S., & Utami, V. J. (2018). Pengaruh Corporate Social Responsibility Terhadap Manajemen Laba Dengan Leverage Dan Growth Sebagai Variabel Control Pada Industri Farmasi Yang Terdaftar Di Bursa Efek Indonesia. J-MAS (Jurnal Manajemen Dan Sains), 3(2), 226. https://doi.org/10.33087/jmas.v3i2.60
Ratmono, D., Purwanto, A., & Cahyonowati, N. (2015). Hubungan Tingkat Pengungkapan dan Kinerja Corporate Social Responsibility Serta Manajemen Laba: Pengujian Teori Ekonomi dan Sosio-Politis. Jurnal Akuntansi Dan Keuangan, 16(2), 63–73. https://doi.org/10.9744/jak.16.2.63-73
Ricardo, D. M., & Faisal. (2015). Pengaruh Pengungkapan Corporate Social Responsibility Terhadap Praktik Manajemen Laba. Diponegoro Journal of Accounting, 4(2), 33–42.
Sabatini, K., & Sudana, I. P. (2019). Pengaruh Pengungkapan Corporate Social Responsibility Pada Nilai Perusahaan Dengan Manajemen Laba Sebagai Variabel Moderasi. Jurnal Ilmiah Akuntansi Dan Bisnis, 14(1), 56–69. https://doi.org/10.24843/jiab.2019.v14.i01.p06
Salancik, G. R., & Pfeffer, J. (1978). A Social Information Processing Approach to Job Attitudes and Task Design. Administrative Science Quarterly, 23(2), 224–253. https://doi.org/10.2307/2392563
Sari, A. A. I. P., & Putri, I. G. A. M. A. D. (2014). Pengaruh Mekanisme Corporate Governance Pada Manajemen Laba. E-Jurnal Akuntansi Universitas Udayana, 8(1), 94–104.
Selahudin, N. F., Fauzan, M., & Ahmad, M. (2018). Do Female Director , Audit Quality and Audit Committee Characteristics Influence the Earnings Management ? Global Business and Management Research: An International Journal, 10(3), 130–140.
Setiawan, D. (2018). Karakteristik Dewan Komisaris dan Manajemen Laba: Bukti pada Peristiwa Penawaran Saham Perdana. Jurnal Siasat Bisnis, 22(2), 164–181. https://doi.org/10.20885/jsb.vol22.iss2.art4
Setyastrini, N. L. P., & Wirajaya, I. G. A. (2017). Intensitas Pengungkapan Corporate Social Responsibility: Pengujian dengan Manajemen Laba AkruaL dan Riil. E-Jurnal Akuntansi Universitas Udayana, 19(1), 337–366.
Sidartha, A. R. M., & Erawati, N. M. A. (2017). Pengaruh Ukuran Perusahaan Dan Risiko Keuangan Pada Praktik Perataan Laba Dengan Variabel Pemoderasi Jenis Industri. E-Jurnal Akuntansi Universitas Udayana, 20(2), 1103–1132. https://doi.org/10.24843/EJA.2017.v20.i02.p09
Sulistyanto, S. (2008). Manajemen Laba, Teori dan Model Empiris. Jakarta: Grasindo.
Suryani, A., & Herianti, E. (2015). Pengaruh Pengungkapan Tanggung Jawab Sosial Perusahaan terhadap Koefisen Respon Laba dan Manajemen Laba. Simposium Nasional Akuntansi, 11, 50–63.
Susanto, Y. K. (2016). The Effect of Audit Committees and Corporate Governance on Earnings Management: Evidence from Indonesia Manufacturing Industry. International Journal of Business, Economics and Law, 10(1), 32–37.
Utama, S. M. (2016). Buku Ajar Aplikasi Analisis Kuantitatif. Denpasar: Fakultas Ekonomi Universitas Udayana.
Wardani, D. K., & Santi, D. K. (2018). Pengaruh Tax Planning, Ukuran Perusahaan, Corporate Social Responsibility (CSR) terhadap Manajemen Laba. Jurnal Akuntansi, 6(1), 11–24.
Watts, R. L., & Zimmerman, J. L. (1990). Accounting Year Theory : Ten Perspective. Review Literature And Arts Of The Americas, 65(1), 131–156. https://doi.org/10.2307/247880
Yateno, & Sari, G. P. (2016). Penguji Manipulasi Laba Real Pada Pengungkapan Corporate Social Responsibility (Studi Empiris Pada Perusahaan Manufaktur Di Bursa Efek Indonesia). Jurnal Akuisisi, 12(2), 26–36. https://doi.org/10.24127/akuisisi.v12i2.106
Yip, E., Staden, C. Van, & Cahan, S. (2011). Corporate Social Responsibility Reporting and Earnings Management: The Role of Political Costs. Australasian Accounting Business and Finance Journal, 5(3), 17–34.
Yogiswari, N. L. P. P., & Badera, I. D. N. (2019). Pengaruh Board Diversity Pada Nilai Perusahaan Dalam Perspektif Corporate Governance. E-Jurnal Akuntansi, 26, 2070. https://doi.org/10.24843/eja.2019.v26.i03.p15
Zalata, A. M., Tauringana, V., & Tingbani, I. (2018). Audit Committee Financial Expertise, Gender, and Earnings Management: Does Gender of the Financial Expert Matter? International Review of Financial Analysis, 55(March 2017), 170–183. https://doi.org/10.1016/j.irfa.2017.11.002
Zuckerman, M. (1994). Behavioral Expressions and Biosocial Bases of Sensation Seeking. (Vol. 18, Issue 6). Cambridge: Cambridge University Press.
Published
2020-06-02
How to Cite
WAHYUNINGSIH, Alit; RASMINI, Ni Ketut.
CSR Disclosure on Earnings Management with the Presence of Women in the GCG Structure.
Jurnal Ilmiah Akuntansi dan Bisnis, [S.l.], v. 15, n. 2, p. 293-307, june 2020.
ISSN 2303-1018.
Available at: <https://ojs.unud.ac.id/index.php/jiab/article/view/56616>. Date accessed: 24 apr. 2024.
doi: https://doi.org/10.24843/JIAB.2020.v15.i02.p11.
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