DETERMINAN FINANCIAL RISK DISCLOSURE: STUDI PADA PERUSAHAAN YANG TERDAFTAR DALAM MORGAN STANLEY CAPITAL INTERNATIONAL (MSCI) INDONESIA INDEXPERIODE 2014-2016

Sayekti Endah Meilani, W Wiyadi

DOI: https://doi.org/10.23917/dayasaing.v19i2.5441

Abstract

The purpose of this study is to examine the effect of corporate characteristics on financial risk disclosure in Indonesia at 2014-2016. The characteristics of the company in this study include firm size, industry type, auditor reputation, ownership concentration, profitability and leverage. Disclosure of financial risk refers to the research of Wibowo and Probohudono (2017) adapted from research by Atanasovski et al (2015), Oorschot (2010), and International Financial Reporting Standard (IFRS) No. 7 on financial instrument: disclosure. The introduction of IFRS 7 by the International Accounting Standards Board can improve the quality of financial risk disclosure practices that all financial reporting authors should undertake. The sample of this study is a company listed on MSCI (Morgan Stanley Capital International) Indonesia Index 2014-2016. The results of this study indicate that information about credit risk and liquidity is the most information disclosed by the company, while information on market risk is not much disclosed. In addition, the results of the study also concluded that firm size, type of industry and profitability variables influence the disclosure of financial risk. Other independent variables such as ownership and leverage concentration have no effect on the level of financial risk disclosure.

Keywords

financial risk disclosure; characteristics of the company; morgan stanley capital international indonesia index

Full Text:

PDF

References

Aljifri, K., & Hussainey, K. (2007). The determinants of forward-looking information in annual reports of UAE companies. Managerial Auditing Journal, 22(9), 881–894. https://doi.org/10.1108/02686900710829390

Aly, D., Simon, J., & Hussainey, K. (2010). Determinants of corporate internet reporting: evidence from Egypt. Managerial Auditing Journal, 25(2), 182–202. https://doi.org/10.1108/02686901011008972

Amran, A., Manaf, A., & Bin, R. (2009). Risk reporting : An exploratory study on risk management disclosure in Malaysian annual reports Risk reporting An exploratory study on risk management disclosure in Malaysian annual reports. Managerial Auditing Journal, 24(July 2014), 39–57. https://doi.org/10.1108/02686900910919893

Atanasovski, A., Serafimoska, M., Jovanovski, K., & Jovevski, D. (2015). Risk Disclosure Practices in Annual Reports of Listed Companies : Evidence from a Developing Country. Research Journal of Finance and Accounting, 6(1), 184–193.

Desender, K. (2007). On The Determinants of Enterprise Risk Management Implementation. IRMA International Conference, (October), 1–25. https://doi.org/10.4018/978-1-60566-346-3.ch006

Elzahar, H., & Hussainey, K. (2012). Determinants of narrative risk disclosures in UK interim reports Determinants of narrative risk disclosures in UK interim reports. The Journal of Risk Finance, 13(2), 133–147. https://doi.org/10.1108/15265941211203189

Ghozali, Imam dan Anis Chariri. 2007. Teori Akuntansi: Edisi Ketiga. Semarang: Penerbit Universitas Diponegoro.

Gujarati, Damodar N., 2003, Basic Econometric, Fourth Edition, Prentice-Hall, Inc

Hassan, M. K. (2009). UAE Corporations‐Specific Characteristics and Level of Risk Disclosure. Managerial Auditing Journal, 24(7), 668–687. https://doi.org/10.1108/02686900910975378

Jensen, M. C., & Meckling, W. H. (1976). Theory Of The Firm : Managerial Behavior, Agency Costs And Ownership Structure I . Journal Of Financial Economics, 3(4), 305–360. Retrieved from http://www.sciencedirect.com/science/article/pii/0304405X7690026X

Linsley, P. M., & Shrives, P. J. (2006). Risk reporting : A study of risk disclosures in the annual reports of UK companies. The British Accounting Review, 38, 387–404. https://doi.org/10.1016/j.bar.2006.05.002

Martani, Dwi. Dkk. 2012. Akuntansi Keuangan Menengah berbasis PSAK. Jakarta: Salemba Empat

Meizaroh, & Lucyanda, J. (2011). Pengaruh Corporate Governance dan Konsentrasi Kepemilikan Pada Pengungkapan Enterprise Risk Management. Simposium Nasional Akuntansi XIV, 21–22.

Mindarti, C. S. (2015). Pengaruh Karakteristik Individu Terhadap Kinerja Auditor. Jurnal Ekonomi Dan Bisnis, XVIII(3), 59–74.

Mubarok, M. A., & Rohman, A. (2013). Pengaruh Karakteristik Perusahaan Dan Mekanisme Corporate Governance Terhadap Pengungkapan Risiko Dalam Laporan Keuangan Interim. Diponegoro Journal Of Accounting, 2, 1–15. Retrieved from http://ejournal-s1.undip.ac.id/index.php/accounting

Oliveira, J., Rodrigues, L. L., & Russell Craig. (2011). Risk-related Disclosures by Non-finance Companies : Portuguese Practices and Discloser Characteristics. Managerial Auditing Journal, 26(9), 817–839.

Peraturan Bank Indonesia Nomor 14/14/PBI/2012 tentang Transparansi dan Publikasi Laporan Bank.

Razali, Ahmad Rizal, Yazid, Ahmad Shukri dan Tahir, Izah Mohd. 2011. “The Determinantsof Enterprise Risk Managemet (ERM) Practices in Malaysian Public Listed Companies”. Journal of Social and Development Sciences, Vol.11, No. 55.

Rustiarini, Ni Wayan. 2012. “Corporate Governance, Konsentrasi Kepemilikan dan Pengungkapan Enterprise Risk Management”. Journal Manajemen Keuangan Akuntabilitas, Vol.11, No.2, ISSN 1412–0240.

Ruwita, C. (2013). Analisis Pengaruh Karakteristik Perusahaan dan Corporate Governance terhadapPengungkapan Risiko Perusahaan. Diponegoro Journal Of Accounting Vol.2 No.2.

Shleifer, A., & Vishny, R. W. (1986). Large Shareholders and Corporate Control. The Journal of Political Economy, 94(3), 461–488.

Solomon, J. F., Solomon, A., Norton, S. D., & Joseph, N. L. (2000). A Conceptual Framework For Corporate Risk Disclosure Emerging From The Agenda For Corporate Governance Reform. British Accounting Review, 32(November), 447–478. https://doi.org/10.1006/bare.2000.0145

Suhardjanto, Djoko, Aryane Dewi, Erna Rahmawati, dan Firazonia M. 2012. “Peran CorporateGovernance dalam Praktik Risk Disclosure pada perbankan”. Jurnal Akuntansi &Auditing, Vol. 9, No.1, pp. 1-96

Syafitri, N. Y. D., Majidah, & Dillak, V. J. (2016). Pengungkapan Risiko Perusahaan : Karakteristik Perusahaan dan Corporate Governance (Studi Pada Industri Sektor Perusahaan Pertambangan yang Terdaftar di Bursa Efek Indonesia Periode 2012-2014). E-Proceeding of Management, 3(3), 3332–3340.

Utomo, Y., & Chariri, A. (2014). Determinan Pengungkapan Risiko Pada Perusahaan Nonkeuangan di Indonesia. Diponegoro Journal Of Accounting, 3(3), 1–14.

Wibowo, A. E., & Probohudono, A. N. (2017). Board of Commisisioners , Organizational Culture , dan Financial Risk Disclosure di Indonesia (Studi pada Perusahaan yang Tercatat di Bursa Efek Indonesia Tahun 2013-2015 ). Simposium Nasional Akuntansi XX, 1–24.

Refbacks

  • There are currently no refbacks.