Email this article Persistensi Laba Antar Level Kompetisi Industri: Studi Empiris pada Perusahaan Amerika Serikat
##article.abstract##
The purpose of this study is to analyze the effect of industry competition level on earnings persistence components. This study used panel data of listed companies that have common shares listed on one of the three major US stock exchanges (NYSE, AMEX, or NASDAQ) and a GICS code during the period 2012-2014. This study hypothesized that industry-wide earnings in the low-competition industries are more persistent than industry-wide earnings in the high-competition industries. The results provide evidence which is consistent with the hypothesis. Finally, I hypothesized and found that industry-wide cashflows in the low-competition industries are the most persistent component of earnings, while firm-specific accruals in the high-competition industries is the least persistent.
Penelitian ini bertujuan untuk menganalisis pengaruh level kompetisi industri terhadap komponen persistensi laba. Penelitian ini menggunakan data panel perusahaan yang terdaftar di salah satu dari tiga bursa efek Amerika serikat yang utama (NYSE, AMEX, atau NASDAQ) selama periode 2012-2014. Klasifikasi industri didasarkan pada GICS code. Penelitian ini mengembangkan hipotesis bahwa komponen industrywide atas laba pada low-competition industries lebih persisten dibandingkan komponen industry-wide atas laba pada high-competition industries. Studi ini menunjukkan hasil yang konsisten dengan hipotesis. Terakhir, penelitian ini mengembangkan hipotesis dan menemukan bahwa komponen industry-wide atas arus kas pada low-competition industries paling persisten dibandingkan dengan komponen yang lainnya.
##article.subject##
Full Text:
PDFReferences
Arieftiara, D., Utama, S., & Wardhani, R. (2017). Environmental uncertainty as a contingent factor of business strategy decisions: Introducing an alternative measure of uncertainty. Australasian Accounting, Business and Finance Journal, 11(4): 116–130.
Arieftiara, D., Utama, S., Wardhani, R., Rahayu, N. (2019). Contingent fit between business strategies and environmental uncertainty: The impact on corporate tax avoidance in Indonesia. Meditari Accountancy Research, 28(1): 139–167.
Atashband, A., Moienadin, M., & Tabatabaenasab, Z. (2014). Examining the earnings persistence and its components in explaining the future profitability. Interdisciplinary Journal of Contemporary Research in Business, 5(10).
Baginski, S.P., Lorek, K.S., Willinger, G.L. & Branson, B.C.. (1999). The relationship between economic characteristics and alternative annual earnings. The Accounting Review, 74(1), 105–120.
Dechow, P.M., & Dichev, I.D. (2002). The quality of accruals and earnings: The role of accrual estimation errors. The Accounting Review, 77, 35–59.
Dechow, P.M., Ge, W., & Schrand, C. (2010). Understanding earnings quality: A review of the proxies, their determinants, and their consequences. Journal of Accounting and Economics, 50(2-3), 344–401.
Dichev, I., Graham, J., Harvey, C., & Rajgopal, S. (2013). Earnings quality: Evidence from the field. Journal of Accounting and Economics, 56: 1–33.
Du, J. and Chen, M. (2010). Market competition measurements and firms’ R&D responses to market competition pressure. Journal of Economic Literature, 1-25.
Ecker, F., Francis, J., Olsson, P., & Schipper, K. (2013). Estimation sample selection for discretionary accruals models. Journal of Accounting and Economics, 56: 190–211.
Fatma, N., & Hidayat, W. (2019). Earnings persistence, earnings power, and equity valuation in consumer goods firms. Asian Journal of Accounting Research.
Green, J., Hand, J., & Soliman, M. (2011). Going, going, gone? The demise of the accruals anomaly. Management Science, 57: 797–816.
Guay, W., Taylor, D., & Xiao, J. (2014). Adaptor perish: Evidence of CEO adaptability to industry shocks. Workingpaper.
Healy, P., Serafeim, G., Srinivasan, S., & Yu, G. (2014). Market competition, earnings management, and persistence in accounting profitability around the world. Review of Accounting Studies, 19: 1281–1308.
Hui, K.W., Nelson, K.K., & Yeung, P.E. (2016). On the persistence and pricing of industry-wide and firm-specific earnings, cash flows, and accruals. Jounal of Accounting and Economics, 61, 185–202.
Li, X. (2010). The impact of product market competition on the quantity and quality of voluntary disclosures. Review of Accounting Studies, 15(3), 663–711.
Marlianti, P.D., & Devie. (2017). Pengaruh market competition intensities terhadap earning persistence melalui earning management sebagai variabel intervening di Indonesia pada perusahaan yang terdaftar di LQ 45 dalam Bursa Efek Indonesia (BEI). Business Accounting Review, 5(2).
Meini, Z., & Siregar, S.V.N.P. (2014). The effect of accrual earnings management and real earnings management on earnings persistence and cost of equity. Journal of Economics, Business, and Accountancy Ventura, 17(2): 269–280.
Meini, Z., Safuan, S., Dewo, S.A., & Diyanti, V. (2017). Business cycles and earnings persistence. International Accounting Conference.
Meini, Z., Safuan, S., Dewo, S.A., & Diyanti, V. (2018). Business cycles and earnings persistence: Evidence from the ASEAN-5 countries. International Journal of Economics and Management, 12(S1): 105–118.
Merrysa, L.W., & Rachmawati, N.A. (2017). Manajemen laba dan perencanaan pajak sebagai sumber large positive book-tax differences terhadap persistensi laba. Jurnal Akuntansi Bisnis, 10(2), 123–134.
Mueller, D.C. (1977). The persistence of profits above the norm. Economica, 44 (November): 380–391.
Rachmawati, N.A., & Martani, D. (2014). Pengaruh large positive abnormal book-tax differences terhadap persistensi laba. Jurnal Akuntansi dan Keuangan Indonesia, 11(2), 120–137.
Rachmawati, N.A. (2016). Book-tax conformity dan kualitas laba. Jurnal Riset dan Aplikasi: Akuntansi dan Manajemen, 1(3), 192–201.
Sloan, R.G. (1996). Do stock prices fully reflect information in accruals and cash flows about future earnings? The Accounting Review, 71, 289-315.
Wahlen, J., Baginski, S., & Bradshaw, M. (2015). Financial reporting, financial statement analysis and valuation, 8th ed. South-Western Cengage Learning.
DOI: http://dx.doi.org/10.20961/jab.v20i1.491
Jurnal Akuntansi dan Bisnis (JAB)
ISSN 1412-0852 (print), 2580-5444 (online)
Published by Accounting Study Program, Faculty of Economics and Business, Universitas Sebelas Maret, Indonesia
JAB on http://jab.fe.uns.ac.id/index.php/jab is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License