Asimetri Informasi pada Emiten Syariah dan Dampaknya terhadap Manajemen Laba

Ade Imam Muslim, Tri Widyastuti


Abstract. Earnings information is very important for investors in their decision-making process to enter in a capital market. Informations are very important for investors, asymmetry information is never expected by any investor. Asymmetry information is as well, a serious concern for regulators of capital markets. This study aims to determine the effect of asymmetry information on the presence or absence of earnings management practices in Sharia-based bonds and stocks issuers. Through 20 companies listed on the Jakarta Islamic Index we analysed, we found out that asymmetry information has no effect on earnings management on Sharia-based bonds and stocks issuers. In addition, we also did not find sufficient evidence that justify that Sharia-based bonds and stocks issuers practice earnings management.

Keywords: asymmetry information; earnings management

Abstrak. Informasi laba sangat penting bagi investor yang akan memasuki pasar modal. Begitu pentingya informasi bagi investor sehingga asimetri informasi tidak diharapkan oleh para investor. Informasi asimetri juga menjadi perhatian serius dari para regulator dan pasar modal. Penelitian ini bertujuan untuk mengetahui pengaruh asimetri informasi terhadap ada tidaknya praktik manajemen laba di emiten syariah. Melalui 20 emiten yang dianalisis, kami menemukan bahwa asimetri informasi tidak berpengaruh terhadap manajemen laba pada emiten syariah. Selain itu, kami juga tidak menemukan bukti yang cukup kuat untuk menjustifikasi bahwa emiten syariah melakukan praktik manajemen laba.

Kata Kunci: asimetri informasi; manajemen laba.

Full Text:



Aggarwal, R.K. and T. Yousef. (2000). Islamic Banks and Investment Financing. Journal of Money, Credit, and Banking 32 (1), : 93–120.

Ahmadpour, A., & Raeesiyan, A. (2006). The Relationship Between Risk Criteria and Price Difference for Stocks Transactions in Tehran Stock Exchange. Quarterly Journal of Accounting and Auditing Studies, 46(3) : 37–60.

Ali, Zhang. (2014). CEO Tenure and Earning Management. Journal of Accounting and Economic.

Alzaouby, E.S.S., (2017). Audit Quality, Debt Financing, and Earning Management : Evidence from Jordan. Journal of International Accounting, Auditing and Taxation. : 1-46.

Ball, R., & Shivakumar, L. (2008). Earnings Quality At Intial Public Offerings. Journal Accounting and Economics, 45(2), 324–349.

Bartov, E. (1993). The timing of asset sales and earnings manipulation. Accounting Review : 840- 855.

Beatty, A., & Harris, D. G. (1999). The effects of taxes, agency costs and information asymmetry on earnings management: a comparison of public and private firms. Review of Accounting Studies, 4(3-4), 299-326

Beck, T., A. Demirguc-Kunt and O. Merrouche. (2010). Islamic vs. Conventional Banking: Business Model, Efficiency and Stability. Working Paper 5446 World Bank Policy Research

Belkaoui, A.R. (2007). Accounting Theory. 5th Edition. Buku 2. Edisi Terjemahan. Jakarta: Salemba Empat.

Bhat, V.. (1996). Banks and Income Smoothing: An Empirical Analysis. Applied Financial Economics 6 (1996), ; 505–510.

Boediono, G., (2005). Kualitas Laba: Studi Pengaruh Mekanisme Corporate Governance dan Dampak Manajemen Laba Dengan Menggunakan Analisis Jalur. Simposium Nasional Akuntansi VIII

Chandrarin. 2017. Metode Riset Akuntansi Pendekatan kuantitatif, Jakarta : Salemba Empat.

Chaney, P. K., & Lewis, C. M. (1995). Earnings Management and Firm Valuation Under Asymmetric Information. Journal of Corporate Finance, 1(3), 319–345.

Dadbeh, F., & Mogharebi, N. (2013). A study on effect of information asymmetry on earning management: Evidence from Tehran Stock Exchange. Management Science Letters, 3 (7)

DeAngelo, E.L. (1986). Accounting Numbers as Market Valuation Substitutes: A Study of Management Buyouts of Public Stockholders. The Accounting Review, LXI, (3).

Dechow, P., & Sloan, R., .(1991). Executive Incentives and The Horizon Problem: An Empirical Investigation. Journal of Accounting and Economics, 14 :51-89.

Dechow, P., Hutton, A., Kim, J. & Sloan, R.,.(2011). Detecting Earnings Management: A New Approach. Working Paper, University Arizona, USA.

Dechow, P., Sloan, R. & Sweeney, A.,.(1995). Detecting Earnings Management. The Accounting Review, 70, : 193-225.

Dye, R. A. (1988). Earnings management in an overlapping generations model. Journal of Accounting research, 26 (2), 195-235.

Fang, J.X., Hong, J.Q., (2007). Listed firms’ information disclosure quality and securities analysts’ earnings forecasts. Securities Market Herald. 3, : 25–30.

Ghaemi, M., & Watanparadst, M. (2008). Studying The Role of Accounting Information in Reducing Information Asymmetry in Tehran Stock Exchange. Journal of Accounting and Auditing studies, 12(31) : 231–245.

Ghani, et all. (2017). The Effect of Information Asymmetry, and environmental uncertainty on earning management practice among Malaysian Technology Based Firms. International Journal of Academic Research in Economics and Management Science. 6 (1) pp 178-194

Ghozali,I. (2017), Aplikasi Analisis Multivariat dan Ekonometrika (Teori, Konsep, dan Aplikasi dengan Eviews). Semarang : Badan Penerbit Universitas Diponegoro.

Hamdi, F.M. and M.A. Zarai. (2012). Earnings Management to Avoid Earnings Decreases and Losses: Empirical Evidence from Islamic Banking Industry. Research Journal of Finance and Accounting 3 (3) : 88–106.

Hasan, M. and J. Dridi. (2010_. The Effects of the Global Crisis on Islamic and Conventional Banks: A Comparative Study. IMF Working Paper 10/201

Hasan, Z., (2008). Corporate Governance from Western and Islamic Perspectives. A paper presented at the Annual London Conference on Money, Economy and Management in 3rd–4th July 2008.

Healy, P. M., & Wahlen, J. M. (1999). A review of the earnings management literature and its implications for standard setting. Accounting horizons, 13 (4), : 365-383

Hilary, G. and K.W. Hui,. (2009). Do Religion Matter in Corporate Decision Making in America?. Journal of Financial Economics 93 : 455–473.

Hilary, G. and K.W. Hui. (2009). Do Religion Matter in Corporate Decision Making

Jensen, M. C., & Meckling, W. H. (1979). Theory of the firm: Managerial behavior, agency costs, and ownership structure: Springer Netherlands.

Jones, J.J. (1991). Earnings Management During Important Relief Investigations. Journal of Accounting Research, 29, (2) : 193-228.

Kanagaretnam, K., C.Y. Lim and G.J. Lobo., (2010). Auditor Reputation and Earnings Management: International Evidence from the Banking Industry. Journal of Banking & Finance 34(10) : 2318–2327

Kanagaretnam, K., Lim, C. Y., & Lobo, G. J. (2014). Effects of international institutional factors on earnings quality of banks. Journal of Banking & Finance, 39, : 87–106

Kang, S. H., & Sivaramakrishnan, K. (1995). Issues in Testing Earnings Management and An Instrumental Variable Approach. Journal Accounting Research, 33(2), 353–367.

Kothari, S. P., Leone, A.J., and. Wasley, C.E. (2005). Performance Matched Discretionary Accrual Measures. Journal of Accounting and Economics, 39 (1) : 163-197.

Masud, et all. (2017). Impact of Corporate Diversification on Earning Management. Journal of Indian Business. Vol 9 No. 2. :

McGuire, S., Omer, T., & Sharp, N. (2012). The impact of religion on financial reporting irregularities. The Accounting Review, 87(2) : 645–673.

Nasution, M., dan Setiawan, D., (2007). Pengaruh Corporate Governance Terhadap Manajemen Laba di Industri Perbankan Indonesia. Simposium Nasional Akuntansi X

Parboteeah, K. P., Hoegl, M., & Cullen, J. B. (2008). Ethics and religion: An empirical test of a multidimensional model. Journal of Business Ethics, 80(2), : 387–398.

Peasnell, K. V., Pope, P. F., & Young, S. (2005). Board monitoring and earnings management: do outside directors influence abnormal accruals?.Journal of Business Finance & Accounting, 32(7-8) : 1311-1346.

Quttainah, Song, Wu., (2013). Do Islamic Banks Employ Less Earning Management ?. Journal of International Financial Management & Accounting. 24 (3) :203-233

Retnadi, D., (2008). Memilih Bank yang Sehat. Jakarta: Elex Media Komputindo

Roychowdhury, S. (2006). Earnings management through real activities manipulation. Journal of accounting and economics, 42(3) : 335-370.

Samad, A., N.D. Gardner andB. J., Cook., (2005). Islamic Banking and Finance in Theory and Practice: The Experience of Malaysia and Bahrain. Finance 22(2) :69–86.

Schipper, K. (1989). Commentary on Earnings Management. Accounting Horizons, 3(4), 91–102.

Scott, W., (2003). Financial Accounting Theory. Pearson, Prentice Hall. United States Of America

Sekaran, U. dan Bougie, R. (2017). Metode Penelitian Untuk Bisnis. Jakarta : Salemba Empat.

Shen, Chung, Hua dan Chih, Hsiang, Lin. 2004. Investor Protection, Prospect Theory, and Earnings Management: An International Comparison of The Banking Industry.

Shivakumar, L. .2000. Do firms mislead investors by overstating earnings before seasoned equity offerings?. Journal of Accounting and Economics,29(3), 339-371.

Stubben, S.R. 2010. Discretionary Revenues as a Measure of Earnings Management. The Accounting Review, 85 (2) : 695-717.

Sugiyono. 2014. Metode Penelitian Bisnis. Bandung: Alfabeta

Sugiyono. 2016. Metode Penelitian Kuantitatif, Kualitatif dan R&D. Bandung : PT Alfabeta.

Sugiyono. 2017. Statistika untuk Penelitian. Bandung : PT Alfabeta.

Suryanto, Tulus. 2014. Manajemen Laba pada Bank Syariah di Indonesia: Peran Komite Audit dan Dewan Pengawas Syariah. Kinerja. Vol. 8 No. 1 : 90-100

Suyono, E. 2017. Berbagai Model Pengukuran Earning Management: Mana yang Paling Tepat. Sustaintable Competitive Advantage-7. FEB. Unsoed.

Teoh, S. H., Welch, I., & Wong, T. J. 1998. Earnings Management and The Underperformance of Seasoned Equity Offerings. Journal of Financial Economics, 50(1), 63–99.

Trueman, B., & Titman., S. 1988. An Explanation for Accounting Income Smoothing. Journal of Accounting Research, 26(4), 127–132.

Ujiyantho, M.A., dan Pramuka, B.A. 2007. Mekanisme Corporate Governance, Manajemen Laba dan Kinerja Keuangan. Simposium Nasional Akuntansi X

Venkatesh, P. C., & Chiang, R. 1986. Information Asymmetry and The Dealer’s Bid-Ask Spread: A Case Study of Earnings and Dividend Announcements. The Journal of Finance, 41(5), : 1089–1102.

Warfield, T., Wild, J., & Wild., K. 1995. Managerial Ownership, Accounting Choices and Informativeness of Earnings. Journal of Accounting and Economics, 20(3), 61–91

Wanarno, W.W. 2011. Analisis Ekonometrika dan Statistika dengan Eviews. Edisi 4. Yogyakarta: UPP STIM YKPN.

Xia, L.J., Lu, X.N., 2005. On the relationship between earnings management and information disclosure quality of listed firms. Contemporary Economy & Management. 10, : 145–150.

Yang, D.M., 2005. The disclosure of information forecasts and earnings management. Chinese Journal of Management Science. 7, : 108–112



  • There are currently no refbacks.

Creative Commons License

Jurnal ASET (Akuntansi Riset) is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License

View My Stats Visitor