MANAJEMEN LABA PERUSAHAAN YANG MELANGGAR PERJANJIAN UTANG (Studi Empiris pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia Tahun 2005-2007)

Ferima, Citra (2010) MANAJEMEN LABA PERUSAHAAN YANG MELANGGAR PERJANJIAN UTANG (Studi Empiris pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia Tahun 2005-2007). Other thesis, FAKULTAS EKONOMI.

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Abstract

The obiective of this research are to detect the earnings management which is motivated by debt covenants and to compqre the earnings management between companies violsting debt covenants and contral companies. The samples of this research are 35 public companies of manufacturing industry listed in Indonesian Stock Exchange @n in 2A05 until 2007. This research used discretionsry accruals fro* Jones Modification Model to detect the level of earnings management. The results of the first lrypothesis shows that mean of discretionary accruals at a year before violstion is not significantly larger than the year of debt covenant violation. This result does not support the positive accounting theory. It also happens for the mean at the year of violation and at a year after violation. But most of companies violating debt covenents perform income minimization in those years. The result of the second hypothesis shows that mean of discretionary accruals af companies violoting debt covenants at a year before and at the year violation of debt covenan( is not significantly larger than the control companies. It means thot there are meny motivatiorw far companies to perform earnings management.

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