HUBUNGAN KEAGENAN DAN HUKUM BESI DALAM MANAJEMEN LABA [JURNAL]
ABSTRACT
Agency conflict emerges from different interest between principals and
agents. This conflict could be minimized by implementing executive compensation
program, such as employee stock option program (ESOP). There are three stages
of activities involved in earnings management, including before stock option
announcement, before stock option granted, and before the option due (stock
realization). During one quarter before the announcement date, earnings
management occurs by decreasing reported earnings with discretionary accruals
value of -0.75, while during one quarter after the announcement the value is still
negative (-0.22). The value becomes positive during the second, third, and fourth
quarter after the announcement, that are 0.33; 1.45; and 0.73 respectively. This
condition shows that pattern of discretionary accruals change from negative to
positive, meaning that there is incentive for executives to conduct the iron law
during the three quarters after the announcement date due to earnings
management occurs previously.
Keywords: ESOP, agency theory, iron law, earnings management
Download : PDF
0 komentar:
Post a Comment