PERUSAHAAN KELUARGA, MANAGEMEN LABA, DAN KINERJA MASA DEPAN: SUDUT PANDANG SOCIOEMOTIONAL WEALTH

LILIK ANDRIYANI, Hardo Basuki, M.Soc.Sc, Ph.D;Fuad Rakhman, M.Sc, Ph.D;Zuni Barokah, M.Comm., Ph.D

2019 | Disertasi | DOKTOR ILMU AKUNTANSI

Studi ini menginvestigasi perusahaan keluarga dalam melakukan kegiatan managemen laba secara strategik dengan menghindari aktivitas yang menurunkan nilai perusahaan dalam jangka panjang. Penelitian ini juga menginvestigasi manager menentukan dua strategi managemen laba (riil dan akrual) secara komplementer atau secara trade-off. Penggunaan dua strategik managemen laba secara substitusi/trade-off mengindikasikan bahwa perusahaan keluarga melakukan managemen laba dengan hati-hati. Penelitian ini menggunakan faktor-faktor kontekstual, yaitu representasi wanita, firm age, dan chief executive officer (CEO) entrenchment. Faktor-faktor kontekstual ini untuk mengkontrol perusahaan keluarga melakukan manajemen laba. Konsep socioemotional wealth (SeW) menunjukkan bahwa perusahaan keluarga lebih mengutamakan kepentingan perusahaan guna mempertahankan transgenerasional dan menjaga reputasi perusahaan. Hasil penelitian ini menunjukkan perusahaan keluarga lebih hati-hati menggunakan managemen laba riil dan managemen laba akrual dibandingkan dengan perusahaan non-keluarga. Hasil empiris ini membuktikan bahwa perusahaan keluarga yang mengurangi real activity manipulation (RAM) memiliki kinerja keuangan masa depan lebih baik dibandingkan perusahaan non-keluarga. Namun perusahaan keluarga yang mengurangi aktivitas accrual-based earnings management (ABEM) tidak menunjukkan kinerja keuangan masa depan baik dibandingkan perusahaan non-keluarga. Temuan selanjutnya memberikan pandangan baru kepada para manager dan peneliti bahwa perusahaan keluarga di Indonesia dalam melakukan managemen laba secara substitusi sekaligus komplementer. Hasil penelitian ini juga menunjukkan bahwa faktor-faktor kontekstual mampu mengurangi perusahaan keluarga melakukan managemen laba RAM dan ABEM. Secara keseluruhan menunjukkan bahwa managemen laba perusahaan keluarga di Indonesia adalah efisien.

This study investigates family companies in conducting earnings management activities strategically by avoiding activities that reduce the company's value in the long run. This study also investigates managers determine two earnings management strategies (real and accrual) complementary or trade-off. The use of two strategic earnings management in substitution/trade-off indicates that the family company carries out earnings management carefully. This study uses contextual factors, namely representation of women, firm age, and chief executive officer (CEO) of entrenchment. These contextual factors are to control family companies to do earnings management. The concept of socioemotional wealth (SeW) shows that family companies prioritize the interests of the company to maintain transgenerationally and maintain the reputation of the company. The results of this study indicate that family firms are more careful using real earnings management and accrual earnings management compared to non-family companies. These empirical results prove that family companies that reduce real activity manipulation (RAM) have better financial performance in the future than non-family companies. But family companies that reduce accrual-based earnings management (ABEM) activities do not show good future financial performance compared to non-family companies. The next finding gave a new view to managers and researchers that family companies in Indonesia are doing substitution management as well as complimentary. The results of this study also show that contextual factors can reduce family companies to manage RAM earnings and discretionary accruals. Overall shows that the earnings management of family companies in Indonesia is efficient.

Kata Kunci : family ownership, earnings management, SeW, RAM, ABEM