PERSISTENSI LABA DAN EKSPEKTASI INVESTOR PADA PERUSAHAAN DENGAN BOOK-TAX DIFFERENCES

Grace Setiyani Tjandra, Lindrawati Lindrawati, Budianto Tedjasuksmana

Abstract


Quality earnings is defined as the earnings persistence because earnings persistence is a value-relevant characteristic of earnings, which is predictive value. Earnings persistence is an accounting profit that is expected in the future and could be pro-jected by the current earnings and it is determined by the components of accruals and cash flows. Book-tax differences could rep-resent the discretion of management in the accrual process, which could establish the earnings quality. This research is aimed to investigate companies with large book-tax differences have earnings persistence, accrual and cash flow are lower compared with companies that have small book-tax differences. Moreover, it also has the purpose to examine investors’ expectation towards ac-counting profit persistence that is reflected in the share price for accrual components in each sub sample of book-tax differences. As earnings persistence is equal to the expected future earnings, therefore, there are two elements that could represent the earnings persistence itself. The first one is the future change in pretax earnings and the second one is the net earning. Hence, this research has also the purpose to test the effect of a permanent and a temporary differences in the book-tax differences towards the earning’s growth. The objects of the research are 30 manufacturing companies, which have been registered in Indonesia Stock Exchange in the year of 2005 to 2010, using the purposive sampling technic. The hypotheses’ examination is using the double linear regression. The result of the research shows that companies with large positive (negative) book-tax differences have an indifferent persistence component of earning compared with companies with small book-tax differences. Furthermore, there are no proves that the share price could reflect the consistency of earning, accrual and cash flow. However, investors have the tendency to be pessimistic to-wards the relation of current earning and future earning. In other words, earning is assumed to have low persistence in every sub sample of book-tax differences. Permanent differences are not significantly xix affect earnings growth, while temporary differ-ences are significant affect earnings growth.

Save to Mendeley


Keywords


Akrual; Arus Kas; Book-Tax Differences; Perbedaan Permanen; Persistensi Laba

Full Text:

Untitled

References


Bandi, 2009, Kualitas Laba dalam Perspektif Akrual-Arus Kas dan Persinyalan Dividen, Disertasi Doktoral Tidak Dipublikasikan, Universitas Diponegoro Semarang.

Belkaoui, A. R., 2011, Teori Akuntansi, Jakarta: Salemba Empat.

Dechow, P., 1994, Accounting Earnings and Cash Flow as Measures of Firms Performance: The Role of Ac-counting Accruals, Journal of Accounting and Economics, Vol. 18, Juli: 3-42, (http://www.elsevier.com, diunduh tanggal 20 Agustus 2012).

Dechow, P., dan I. D. Dichev, 2002, The Quality of Accruals and Earnings: The Role of Accrual Estimation Errors. The Accounting Review, Vol. 77, Supplement: 35-59,

(http://www.jstor.org, diunduh tanggal 20 Agustus 2012).

Djamaluddin, S., H. T. Wijayanti, dan Rahmawati, 2008, Analisis Perbedaan Antara Laba Akuntansi dan Laba Fiskal Terhadap Persistensi Laba, Akrual, dan Aliran Kas pada Perusahaan Perbankan yang Terdaftar di Bursa Efek Jakarta, Jurnal Riset Akuntansi Indonesia, Vol. 11, No. 1, Januari: 52-74.

Fanani, Z., 2010, Analisis Faktor-Faktor Penentu Persistensi Laba, Jurnal Akuntansi dan Keuangan Indonesia, Vol. 7, No. 1, Juni: 109-123.

Febrianto, R., dan E. Widiastuty, 2006, Tiga Laba Akuntansi: Mana yang Lebih Bermakna bagi Investor?, Jurnal Riset Akuntansi Indonesia, Vol. 9, No. 2, Mei: 200-215.

Ghozali, I., 2009, Aplikasi Analisis Multivariate dengan Program SPSS, Semarang: Badan Penerbit Universitas Diponegoro.

Gitman, L. J., 2003, Principles of Managerial Finance, 10th edition, Boston: Pearson Education.

Gunadi, 2009, Akuntansi Pajak, Edisi Revisi 2009, Jakarta: PT. Gramedia Wydia Sarana Indonesia.

Hanlon, M., 2005, The Persistence and Pricing of Earnings, Accruals, and Cash Flows When Firms Have Large Book- tax Differences, The Accounting Review, Vol. 80, No. 1, Maret: 137-166.

Hartono, J.M., 2000. Teori Portofolio dan Analisis Investasi. Edisi 2.

Yogyakarta: BPFE, Universitas Gajah Mada.

Ikatan Akuntan Indonesia, 2012, Standar Akuntansi Keuangan, Jakarta: Salemba Empat.

Jackson, M., 2009, Book Tax Differences and Earnings Growth, Working Paper, University of Oregon.

Lev, B., dan D. Nissim, 2004, Taxable Income, Future Earnings, and Equity Value, The Accounting Review, Vol. 79, No. 4, Oktober: 1039-1074.

Martani, D., dan A. E. Persada, 2009, Pengaruh Book Tax Gap Terhadap Persistensi Laba, Jurnal Akuntansi Universitas Indonesia, Jakarta,

(http://staff.ui.ac.id/internal/0600500045/publikasi/Paper_Au liaEkaPersada_SNP2.pdf, diunduh tanggal 24 Februari 2012).

Pearce, J. A., dan R. B. Robinson, 2008, Manajemen Strategis, Edisi Kesepuluh, Jakarta: Salemba Empat.

Phillips, J., M. Pincus, dan S. Rego, 2003, Earnings Management: New Evidence Based on Deferred Tax Ex-pense, The Accounting Review, Vol. 78, No. 2, April: 491-521.

Priyatno, D., 2010, Paham Analisa Statistik Data dengan SPSS, Edisi pertama, Yogyakarta: Mediakom.

Resmi, S., 2011, Perpajakan: Teori dan Kasus, Jakarta: Salemba Empat.

Siallagan, H., dan M. Machfoedz, 2006, Mekanisme Corporate Governance, Kualitas Laba dan Nilai Perus-ahaan, Simposium Nasional Akuntansi IX, Padang, Agustus: 1-23, (http://blog.umy.ac.id/ervin/files/2012/06/K-AKPM-13.pdf, diunduh tanggal 24 Agustus 2012).

Sloan, R. G., 1996, Do Stock Prices Fully Reflect Information in Accruals and Cash Flows about Future Earnings?, The Accounting Review, Vol. 71, No. 3, Juli: 289-315.

Suandy, E., 2008, Perencanaan Pajak, Jakarta: Salemba Empat. Subramanyam, K. R., dan J. J. Wild, 2012, Analisis Laporan Keuangan, Edisi Kesepuluh, buku 1, Terjemahan oleh Dewi Yanti, 2010, Jakarta: Salemba Empat.

Sunarto, 2008, Peran Persistensi Laba Memperlemah Hubungan antara Earnings Opacity dengan Cost of Equity dan Trading Volume Activity, Disertasi Doktoral Tidak Dipublikasikan, Universitas Diponego-ro Semarang.

Suwardjono, 2006, Teori Akuntansi Perekayasaan dan Pelaporan Keuangan, Yogyakarta: BPFE.

Tandelilin, E., 2010, Portofolio dan Investasi, Edisi Pertama, Yogyakarta: Kanisius.

Trisnawati, E., dan S. Agoes, 2010, Akuntansi Perpajakan, Edisi 2 Revisi, Jakarta: Salemba Empat.

Wahyuningsih, D. R., 2007, Hubungan Praktik Manajemen Laba dengan Reaksi Pasar atas Pengumu-man Informasi Laba Perusahaan Manufaktur di Bursa Efek Jakarta, Tesis Pascasarjana Tidak Dipublikasikan, Universitas Diponegoro Semarang.

Waluyo, 2008, Akuntansi Perpajakan, Jakarta: Salemba Empat. Wijayanti, H., 2006, Analisis Pengaruh Perbedaan Antara Laba

Akuntansi dan Laba Fiskal Terhadap Persistensi Laba, Akrual, dan Arus Kas, Simposium Nasional Akuntansi IX, Padang, (http://smartaccounting.files.wordpress.com/2011/03/k- akpm28.pdf, diunduh tanggal 20 Januari 2012).




DOI: https://doi.org/10.33508/jako.v5i1.2622