PROS Supatmi Anastasia ATP Ronny Prabowo Asosiasi Related Party Transaction Abstract
,i::!.lrA!{iijkiiiiij$ri:iti:ir..i:1,,.1i*,.:i-{ji1rl+itlll,Airralt*#*'16.si1iffiffig:1i*
DAFTAR ISI
PROCEEDING
CROW'fI'tAND M/JURITY }-IYPOTHESES ON DIVIDEND POLICY: INDONESIAN
PHRSPticI'lVir
Fivll-040: Fitri Isniiyatrti
DOE.S MISPRIT]IN(i AFFECT INVESTMENT AND CAPITAL S'IRUCTURE OF
INDONESIAN F-IRI\4S'/
Fl\,{1.042: Risal Rurotah dan lrwan TrirrLrgroho
05
06
PE N GA R UH PENG TJ NGKAPAN TANGGI.]NG JAWAB So SIAL PERUSAHAAN
TERHADAP N]t AI PERUSAHAAN
FMI-046: Yeterina Widi Nugrahanti dan Supatmi
PENGELOLAAN RISK ATTITUDE DENGAN EMOTIONAL INTELLIGENCE
08
.\SOSIASI RELATED PARTY TRANSACTION DAN KINERJA PERUSAHAAN
FMI.053:Supatn'ri,AnastasiaAyuTyaPratiwi,danRonnyPrabowo
08
{.JNTUK MENCFIADAPI TANTANGAN DI MASA DEPAN
FlVll-050: Ida
FA KTOR-
FAKTOR YANG
D
\lELAKUKAN INV .STASI
FV I-()54: Naralilr
C
IPERTIMBANG KAN INVE STOR
D
ALAM
09
hrisrariri dan Linda Ariany Mahastanti
l)l{ilDIKSl
KLul.lAK.,\N l.llANG, PROFtTABtLtTAS, LIKUIDIt-AS. LTKUR.AN, D,AN
SI Al'U S PERL]SAI'IAANTERHADAP KEM UNGKINAN PEN ENT'UAN PERINC
KAT
OBLIC}ASI: ST.LJDI I-.,MPIRIK PADA PERUSAHAAN YANC MENERI]ITKAN
OBLIGASI DI I]URST\ EF.EK INDONESIA
F\ll-057: []ranr ]ladianro dan M. Sienly Vcronica Wijaya
Pt RSONAL FINANCI AL PLANN I NG: TANTANCAN MASA DEPAN?
FMI-060: Maya Malinda
F,{KTOR-FAKTOR YN NC MEMPENGARUHI PENGUNGKAPAN TANCCUNG
JAWAB SOSIAI- PERUSAHAAN MANUFAKTUR INDONESIA
FMI-073: Elfina Sanjava dan Golrida Karyawati
t0
11
PENGUKURAN DAN FAKTOR PENENTU EFISIENSI PERBANKAN
t2
"PENGARUH CORPORATE COVERNANCE DAN KUALITAS AUDITOR
t2
PEN(JARUI{ KAS. PII]IANC, PERSEDIAAN TERHADAP REMIABILITAS
MODAL
13
FMI-076: Muazaroh
TERHADAP KEMUNGKINAN PRAKTIK MANAJEMEN
FMI-088: H. Isnurhacli dan Kartika Rachma Suri
iGE
KI.-I{JA TJMKM IiEIT..A.JINAN KULIT DAN TAS TANGGULNXCTX
F\41-090: Wirarvi,rr t:l) Radianto clan Elisr Butliani yusul'
SrNO;RJ;---.
PERTUMBUHAN EARNINC PER SHARE, PRICE TO BOOK VALUE DAN
PRIC]E
EARNING RATIO SI.IJN CAI DASAR KEPUTUSAN STO('K SPLIT
FN{l-094: Djoni ftudiardjo clan Joshe Hana Ilapsari
13
L_r _
l:1:
!r!:ij
*affi
Dipresentasikan di Forum Manajemen Indonesia 2010 di Unair Surabaya, 2-3 November 2010
ASOSIASI RELATED PARTY TRANSACTION DAN KINERJA PERUSAHAAN
(Studi pada Lembaga Keuangan yang Terdaftar di BEI Tahun 2008)
Kelompok Paper : Manajemen Keuangan
Supatmi
Anastasia Ayu Tya Pratiwi
Ronny Prabowo
Fakultas Ekonomika dan Bisnis
Universitas Kristen Satya Wacana, Salatiga
patmie@staff.uksw.edu
Abstract
In Indonesia, many of the companies have concentrated ownership, dominant family
control, and high related party transactions (Feliana, 2007). The related party transactions
(RPT) are a tool of earnings management (Gordon et al., 2004), so it will influence the company
performance, especially in profitability performance. This research investigates association
between RPT in receivable and payable to the company performance was measured by ROE and
Tobin’s Q.
The research uses 60 samples was drawn from listed credit agency companies in BEI on
2008. The dependent variables are ROE and Tobin’s Q, ROE was measured by divide the net
profit to equity, and Tobin’s Q was measured by divide the market value of company to value of
asset of company. The independent variables are RPT on receivables and RPT on payables, RPT
receivables was measured by divide the total RPT on receivables to total assets, and RPT on
payables was measured by divide the total RPT on payables to total liabilities. The research uses
firm size and institutional ownership as variables control. The multiple regressions use as
method for this research.
The research finds a positive association between RPT on receivable and company
performance was measured by ROE, and a negative association between RPT on payables and
company performance was measured by Tobin’s Q. In the other side, the research finds a
negative association between RPT on receivables and company performance was measured by
ROE, and a positive association between RPT on payables and company performance was
measured by Tobin’s Q.
Keywords: Related party transaction, ROE, Tobin’s Q, Company performance
1
DAFTAR ISI
PROCEEDING
CROW'fI'tAND M/JURITY }-IYPOTHESES ON DIVIDEND POLICY: INDONESIAN
PHRSPticI'lVir
Fivll-040: Fitri Isniiyatrti
DOE.S MISPRIT]IN(i AFFECT INVESTMENT AND CAPITAL S'IRUCTURE OF
INDONESIAN F-IRI\4S'/
Fl\,{1.042: Risal Rurotah dan lrwan TrirrLrgroho
05
06
PE N GA R UH PENG TJ NGKAPAN TANGGI.]NG JAWAB So SIAL PERUSAHAAN
TERHADAP N]t AI PERUSAHAAN
FMI-046: Yeterina Widi Nugrahanti dan Supatmi
PENGELOLAAN RISK ATTITUDE DENGAN EMOTIONAL INTELLIGENCE
08
.\SOSIASI RELATED PARTY TRANSACTION DAN KINERJA PERUSAHAAN
FMI.053:Supatn'ri,AnastasiaAyuTyaPratiwi,danRonnyPrabowo
08
{.JNTUK MENCFIADAPI TANTANGAN DI MASA DEPAN
FlVll-050: Ida
FA KTOR-
FAKTOR YANG
D
\lELAKUKAN INV .STASI
FV I-()54: Naralilr
C
IPERTIMBANG KAN INVE STOR
D
ALAM
09
hrisrariri dan Linda Ariany Mahastanti
l)l{ilDIKSl
KLul.lAK.,\N l.llANG, PROFtTABtLtTAS, LIKUIDIt-AS. LTKUR.AN, D,AN
SI Al'U S PERL]SAI'IAANTERHADAP KEM UNGKINAN PEN ENT'UAN PERINC
KAT
OBLIC}ASI: ST.LJDI I-.,MPIRIK PADA PERUSAHAAN YANC MENERI]ITKAN
OBLIGASI DI I]URST\ EF.EK INDONESIA
F\ll-057: []ranr ]ladianro dan M. Sienly Vcronica Wijaya
Pt RSONAL FINANCI AL PLANN I NG: TANTANCAN MASA DEPAN?
FMI-060: Maya Malinda
F,{KTOR-FAKTOR YN NC MEMPENGARUHI PENGUNGKAPAN TANCCUNG
JAWAB SOSIAI- PERUSAHAAN MANUFAKTUR INDONESIA
FMI-073: Elfina Sanjava dan Golrida Karyawati
t0
11
PENGUKURAN DAN FAKTOR PENENTU EFISIENSI PERBANKAN
t2
"PENGARUH CORPORATE COVERNANCE DAN KUALITAS AUDITOR
t2
PEN(JARUI{ KAS. PII]IANC, PERSEDIAAN TERHADAP REMIABILITAS
MODAL
13
FMI-076: Muazaroh
TERHADAP KEMUNGKINAN PRAKTIK MANAJEMEN
FMI-088: H. Isnurhacli dan Kartika Rachma Suri
iGE
KI.-I{JA TJMKM IiEIT..A.JINAN KULIT DAN TAS TANGGULNXCTX
F\41-090: Wirarvi,rr t:l) Radianto clan Elisr Butliani yusul'
SrNO;RJ;---.
PERTUMBUHAN EARNINC PER SHARE, PRICE TO BOOK VALUE DAN
PRIC]E
EARNING RATIO SI.IJN CAI DASAR KEPUTUSAN STO('K SPLIT
FN{l-094: Djoni ftudiardjo clan Joshe Hana Ilapsari
13
L_r _
l:1:
!r!:ij
*affi
Dipresentasikan di Forum Manajemen Indonesia 2010 di Unair Surabaya, 2-3 November 2010
ASOSIASI RELATED PARTY TRANSACTION DAN KINERJA PERUSAHAAN
(Studi pada Lembaga Keuangan yang Terdaftar di BEI Tahun 2008)
Kelompok Paper : Manajemen Keuangan
Supatmi
Anastasia Ayu Tya Pratiwi
Ronny Prabowo
Fakultas Ekonomika dan Bisnis
Universitas Kristen Satya Wacana, Salatiga
patmie@staff.uksw.edu
Abstract
In Indonesia, many of the companies have concentrated ownership, dominant family
control, and high related party transactions (Feliana, 2007). The related party transactions
(RPT) are a tool of earnings management (Gordon et al., 2004), so it will influence the company
performance, especially in profitability performance. This research investigates association
between RPT in receivable and payable to the company performance was measured by ROE and
Tobin’s Q.
The research uses 60 samples was drawn from listed credit agency companies in BEI on
2008. The dependent variables are ROE and Tobin’s Q, ROE was measured by divide the net
profit to equity, and Tobin’s Q was measured by divide the market value of company to value of
asset of company. The independent variables are RPT on receivables and RPT on payables, RPT
receivables was measured by divide the total RPT on receivables to total assets, and RPT on
payables was measured by divide the total RPT on payables to total liabilities. The research uses
firm size and institutional ownership as variables control. The multiple regressions use as
method for this research.
The research finds a positive association between RPT on receivable and company
performance was measured by ROE, and a negative association between RPT on payables and
company performance was measured by Tobin’s Q. In the other side, the research finds a
negative association between RPT on receivables and company performance was measured by
ROE, and a positive association between RPT on payables and company performance was
measured by Tobin’s Q.
Keywords: Related party transaction, ROE, Tobin’s Q, Company performance
1