PENGARUH OPINI AUDIT MODIFIKASI TERHADAP KEPUTUSAN PIN-JAMAN DAN KEPUTUSAN INVESTASI

Vincensia Sarwendah, Lodovicus Lasdi, Budianto Tedjasuksmana

Abstract


The objective of this study was to examine whether the effect of the modified audit opinion of loans received by the company's decision and the decision of investment expenditure by the company. Design research is quantitative research with the hypothesis. The sample used in this study are manufacturing companies that listed in Indonesia Stock Exchange with a four year study period from 2011-2014. The independent variable of this study is a modified audit opinion, while the dependent variable is the financial constraints represented by the decision of the loan and investment decisions. The results from this study indicate that in 2011-2014, for overall modified audit opinion does not affect the decision-making loans to companies and corporate investment spending. However, an unqualified audit opinion with an explanation of the going concern paragraph affect tothe loan or investment decision because of corporate business con-tinuity uncertainty.Stable economic conditions and the majority shareholder also can determine the effect of modified audit opinion of loans and investment decisions.

Save to Mendeley


Keywords


Opini Audit Modifikasi; Financial Constraint; Aliran Kas Pinjaman; Aliran Kas Investasi; Aliran Kas Operasi

Full Text:

PDF

References


Abdel, M., M. Ayman, N. Firas, dan A. Salah, 2012, Informational Content of Auditor’s Report and its Impact on Making Decisions from Lenders and Management’s View in the Jordanian Industrial Public Firms, Interna-tional Journal of Humanities and Social Science, Vol. 2, No. 14, July.

Almeida, H., M. Campello, dan M. S. Weisbach, 2004, The Cash Flow Sensitivity of Cash, The Journal of Finance, Vol. 59, No. 4, August.

Arens, A. A., R. J. Elder, M. S. Beasley., A. A. Jusuf, 2011, Jasa Audit dan Assurance: Pendekatan Terpadu (Adaptasi Indonesia), Jakarta: Salemba Empat.

Brigham, E. F. And Ehrhardt, Michael C., 2005, Financial Management: Theory and Practice, Singapore: Thomson South-Western.

Brunell, D., 2010, Do Political Connections Help Firms Gain Access to Bank Credit in Vietnam?.

Durendez, G.A.D., 2003, The Usefulness of The Audit Report In Investment And Financing Decisions, Manageri-alAuditing Journal, 18(6/7),549–559.

Fazzari, S. M., R. G. Hubbard, dan B. C. Petersen, 1988, Financing Constraints and Corporate Investment.

Ghozali, I., 2013, Statistik non-parametrik : teori dan aplikasi dengan program SPSS, Semarang: Universitas Diponegoro.

Hardina, P., dan Fitriany, 2013, Pengaruh Modified Audit Opinion terhadap Borrowing Cash Flow dan Invest-ment Cash Flow, Jurnal Akuntansi dan Keuangan Indonesia, Vol. 10, No. 1, Juni: 80-101.

Ikatan Akuntan Publik Indonesia, 2013, Standar Profesional Akuntan Publik, Jakarta: Salemba Empat.

Ikatan Akuntansi Indonesia, 2015, Standar Akuntansi Keuangan PSAK No. 2, Jakarta: Salemba Empat.

Indira, J., 2009, Analisis Pengaruh Faktor Perusahaan, Kualitas Auditor, Kepemilikan Perusahaan Terhadap Penerimaan Opini Audit Going Concern(Perusahaan Manufaktur Yang Terdaftar di Bursa Efek Indone-sia), Simposium Nasional Akuntansi XII, 1-26.

Lin, Z., Y. Jiang, dan Y. Xu, 2011, Do Modified Audit Opinions have Economic Consequences? Empirical Evi-dence Based on Financial Constraints, China, Journal of Accounting Research, Vol. 4, August:135–154.

Kieso, D. E., J. J. Weygandt, dan T. D. Warfield, 2011, Intermediate Accounting IFRS Edition, USA: John Wiley & Sons, Inc.

Moradi, M., M. Salehi, M. Riqi, dan M. Moeinzade, 2011, The Effect of Qualified Audit Report on Share Prices and Returns: Evidence of Iran, African Journal of Business Management, Vol. 5 (8), April: pp. 3354-3360.

Mulyadi, 2001, Akuntansi Manajemen, Jakarta: Salemba Empat Omri

M. A, R. Errhili, dan F. H. Ghorbel, 2011, Usefulness of Audit Report in Loan Decisions Granted by Tunisian Banks: An Experimental Study, International Journal of Critical Accounting, 3 (4).

Pantow, M. Sharon, S. Murni, I. Trang, 2015, Analisa Pertumbuhan Penjualan, Ukuran Perusahaan, Return On Asset, dan Struktur Modal terhadap Nilai Perusahaan yang Tercatat di Indeks LQ 45, Jurnal EMBA, Vol.3, No.1 Maret: 961-971.

Ramazan, M., B. A. Sedghiani, dan K. Jamali, 2014, Economic Consequences Qualified Audit Opinions: Evidence from listed Companies in Tehran Stock Exchange, Research Journal of Recent Sciences, Vol. 3(10), October: 89-95.

Risanty, 2004, Hubungan Investment Opportunity Set dengan Kebijaksanaan Deviden & Struktur Modal Perus-ahaan. Tesis. Medan: Program Pasca Sarjana Universitas Umatera Utara.

Salehi, M., A. Mohammadi, dan P. T. Esfahani, 2013, Investment- Cash Flow Sensitivity: A Study of Iranian Listed Companies, Research papers Organizacija, Vol.46, April.

Santoso, S., 2014, Statistik Nonparametrik: Konsep dan Aplikasi dengan SPSS, Jakarta: Elex Media Komputindo.

Scott, W. R., 2015, Financial Accounting Theory, Canada: Pearson Education.

Sitompul, K. N., dan Prasetiono, 2011, Pengaruh Pertumbuhan Dana Pihak Ketiga (DPK), CAR, ROA, dan Ting-kat Suku Bunga SBI terhadap Pertumbuhan Kredit,

Steven dan Lina, 2011, Faktor-faktor yang Mempengaruhi Kebjikanan Hutang Perusahaan Manufaktur, Jurnal Bisnis dan Akuntansi, Vol: 13 (3), Desember: 163-181.

Suharjo, B, 2013, Statistika Terapan Disertai Contoh Aplikasi dengan SPSS, Yogyakarta: Graha Ilmu.

Wild, J. K. R. S., 2013, Financial Statement Analysis, McGraw-Hill International Edition.

Wiranata, Y., dan Y. W. Nugrahanti, 2013, Pengaruh Struktur Kepemilikan Terhadap Profitabilitas Perusahaan Manufaktur di Indonesia, Jurnal Akuntansi dan Keuangan, Vol. 15, No. 1, Mei: 15-26.




DOI: https://doi.org/10.33508/jako.v9i1.2533