ANALISIS STRUKTUR CORPORATE GOVERNANCE DAN DISCLOSURE DALAM UPAYA MENINGKATKAN USEFULNESS INFORMASI AKUNTANSI BAGI PELAKU PASAR MODAL DI BURSA EFEK INDONESIA

Abstract

The study based on three grand theories namely agency theory, signaling theory and positive accounting theory. The objectives of the study were : 1) to analyze the impact of corporate governance structure on usefulness of accounting information, it proxied by earnings management, 2) to analyze the impact of disclosure on usefulness of accounting information and 3) to analyze of the impact of earnings management on earnings response coefficient (ERC),4) to develope he corporate governance model for public companes in Indoniesia,5) to develope and to examine using of the three grand theories on this research . The samples of the study were 122 public firms-non financial industry listed on Indonesian Stock Exchange in 2009-2013. The study using path analysis to solve the research problems. The research data were processed by Statistical Package for Social Science (SPSS) and Analysis Moment of Structure (AMOS). The results of the study shown that institutional ownership, management ownership, the size of board of commisioners, the quality of disclosure and as variables that significantly had an influence on earnings management (as proxied of the usefulness of accounting information). The board of independent commisioners is a variable that do not affect earnings management. Meanwhile, earnings management as a signal could not be responded by markets (investor or potential investor) which showed that earnings management does not affect earnings response coefficient (ERC). In general, this study provides theoretical contributions related to the implementation and development of agency theory, signaling theory and positive accounting theory. In addtition to explain the factors that influence earnings management and earnings management as a signal that the market should respond. As earnings management as a signal not responded by the market, which is proxied by the ERC. The results of this study contributes to the formulation of policies primarily concerned the implementation of good corporate governance, the quality of disclosure and the quality of accounting information.