ANALISIS PERATAAN LABA ( INCOME SMOOTHING ) : FAKTOR YANG MEMPENGARUHINYA DAN PENGARUHNYA TERHADAP RETURN DAN RISIKO SAHAM PERUSAHAAN GO PUBLIC DI BURSA EFEK JAKARTA

Abstract

This research is designed to examine the income smoothing in Indonesia. Income
smoothing can be defined as a means used by management to diminish the variability of
stream of reported income numbers relative to some perceived target stream by the manipulation of artificial (accounting) and real (transactional)
variables (Koch, 1981).
Three main issue investigated in this reseach were factor influencing income smoothing and
the income smoothing effect to return and risk
(beta) of public companies stocks in Indonesia.
Eighty three listed in Jakarta stock exchage
(JSX) selected using purposive sampling method
were used as reseach sample. The sample was then classified into smoother and non
smoother using Eckel’s model, used income after tax. The result showed that 45 companies
practiced income smoothing and 38 companies didn’t practiced income smoothing by
companies listed in JSX.
Common and special statical test according the hypothesis were used in this reseach.
Common statical includes descriptive statistic, normality data test(with one sampel kolmogorov smirnov) and population test with Mann Whitney test or t t est. All kind of common statical test concluded that data was distributed unnorrmally and the sample came from the same population.
The first hypothesis examined whether NPS, Profitabilitas, Net Profit Margin,
Leverage, Industrial sector, and winner losser stocks influenced income smoothing. Logistic
regression was used to the test this hypothesis and concluded that the first hypothesis cannot
rejected, so all the factors hypothesized were not influence income smoothing. The second
hypothesis examined whether there was return difference between smoother aand non
smoother. This hypothesis was tested with independent sample t test and concluded that there
was no return difference between smoother and non smoother. The third hypothesis examined
whether there was risk
( beta) difference between smoother aand non smoother. This hypothesis was tested with independent sample t test and concluded that there was no risk (beta) difference between smoother and non smoother.