Earnings Management At Public Companies With Employee Stock Ownership Program (ESOP)  

Oleh:

Suranta, Edy ; Midiastuty, Pratana Puspa ; Nikmah ; Andina, Ariana Satri

Jenis: Article from Journal - ilmiah nasional - terakreditasi DIKTI
Dalam koleksi: Journal of Economics, Business, & Accountancy: ventura vol. 13 no. 2 (Aug. 2010), page 151-162.
Topik: Employee ownership; Earnings management; Compensation; Stock return; Stock option.

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: VV5.7 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

This research investigates the significant differences of discretionary total accrual between ESOP companies and non ESOP ones as listed at Indonesia Stock Exchange (IDX), and significant differences of stock return in every single stage of ESOP. This research was conducted on 11 companies doing the ESOP and other 11 ones without doing the ESOP during 1999-2004. The test is by means of windows period during three before the ESOP, in the year of ESOP taking place, and in the three years after the ESOP. The model used for examining earnings management is the modified Jones model. The proxy of earnings management is discretionary total accrual and the measurement of stock price is stock return. This research was analyzed using independent sample t test and paired sample t test. The results showed their income in the period of one year before ESOP and for the following years after the ESOP. Yet, three are no significant differences of stock return in every stage of ESOP but found that negative stock return occurred after and during three stages of the ESOP.

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