Empirical Investigation of Organic Growth, Evidence From Indonesian Public Listed Companies  

Oleh:

Waworuntu, Stephanus Remond ; Tjhatra, Carina

Jenis: Article from Journal - ilmiah nasional - tidak terakreditasi DIKTI - non-atma jaya
Dalam koleksi: Journal of Applied Finance and Accounting vol. 2 no. 2 (Jun. 2010), page 126-137.
Topik: Organic Growth Index; Economic Value Added; Core Earnings; Income Manipulation

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: AA76.1 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

Lihat Detail Induk

Isi artikel

The main objective of this research is to examine Indonesian public listed companies with earnings generated organically rather than through earnings management, income manipulation , financial engineering, or through mergers and acquisitions. 70 samples were taken from Kompas 100 Stock Index from the period of 2004 to 2007 excluding banks, financial institution, REITs and insurance companies. The authors applied the model of Organic Growth Index (OGI), developed by Hess (2007). The OGI model designed to illuminate value-creating companies that have consistently outperformed industry competition through organic growth. The test begins by selecting the best Ecomonic Value Added and high growth companies. The result of our study shows that there are 10 % of Indonesia public listed companies identified as OGI winners. These companies passed the core earnings test, income manipulation test and cash realization test, and thus indicated that those Indodesian public companies have a low level of earnings manipulation and low engagement in non-core earnings such as hedging activities.

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