Pengaruh Kualitas Informasi Akuntansi Dan Corporate Governance terhadap Peringkat Sukuk Korporasi Indonesia

Afifa Nurhanifah, Evony Silvino Violita

Abstract


This research aims to examine the association accounting information quality (accrual quality and cash flow management) and corporate governance to affects corporation sukuk rating. Using sukuk rating as dependent variable, ordered logit model selected to test research variable. Research periods start from year 2010 – 2015, with 92 observations sukuk rating in Indonesia. This research finds that accrual quality, cash flow management and corporate governance, positively associated with sukuk rating.


Keywords


Accounting information quality, Corporate governance, Sukuk rating

Full Text:

PDF

References


Ahmed, K. (2011). Sukuk: Defnition, Structure and Accounting Issues. MPRA Paper, (33675).

Alissa, W., Bonsall, S. B., Koharki, K., & Penn, M. W. (2013). Firms ’ use of accounting discretion to influence their credit ratings. Journal of Accounting and Economics, 55(2–3), 129–147.

Ames, D., Hines, C. S., & Sankara, J. (2014). Are earnings quality attributes reflected in financial strength ratings ? American Journal of Business, 29(34), 293–311.

Arundina, T., Omar, M. A., & Kartiwi, M. (2015). The predictive accuracy of Sukuk ratings ; Multinomial Logistic and Neural Network inferences. Pacific-Basin Finance Journal, 34, 273–292.

Ashbaugh-skaife, H., Collins, D. W., & Lafond, R. (2006). The Effects of Corporate Governance on Firms’ Credit Ratings. Journal of Accounting and Economics, 42, 203–243.

Bereskin, F. L., Kim, B., & Dongchuhl, F. (2015). Paci fi c-Basin Finance Journal Do credit rating concerns lead to better corporate governance ? Evidence from Korea ☆. Pacific-Basin Finance Journal, 35, 592–608.

Bhojraj, S., & Sengupta, P. (2003). Effect of Corporate Governance on Bond Ratings and Yields : The Role of Institutional Investors and Outside Directors *. Journal of Business, 76(3), 455–475.

Dechow, P. M., & Dichev, I. D. (2002). The Quality of Accruals and Earnings : The Role of Accrual Estimation Errors Author. The Accounting Review, 77(2002), 35–59.

Dechow, P. M., & Schrand, C. M. (2004). Earnings Quality. United States of America: Research Fondation of CFA Institute.

Elhaj, M. A. A., Muhamed, N. A., & Ramli, N. M. (2015). The Influence of Corporate Governance, Financial Ratios, and Sukuk Structure on Sukuk Rating. Procedia Economics and Finance, 31(McMillen 2007), 62–74.

FitchRatings. (2012). Pemeringkatan Sukuk Laporan Kriteria Antar Sektor.

Francis, J., Lafond, R., Olsson, P., & Schipper, K. (2005). The Market Pricing of Accruals Quality. Journal of Accounting and Economics, 39, 295–327. https://doi.org/10.1016/j.jacceco.2004.06.003

Geiszler, M. (2014). The Effect of Accrual Quality, Real Activities Earnings Management and Corporate Governance on Credit Ratings. Kent State University.

Hariani, D. (2011). PENGARUH PENERAPAN GOOD CORPORATE GOVERNANCE TERHADAP RISIKO KREDIT DAN YIELD SUKUK IJARAH KORPORASI. Tesis Universitas Indonesia.

Khurana, I. K., Pereira, R., & Zhang, E. (2014). Cash Flow Management and Bond Rating Quality, 1–53.

Kim, Y. S., Kim, Y., & Song, K. (2013). Credit rating changes and earnings management. Asia Pacific Journal of Financial Studies, 42(1), 109–140.

Kirana, D. (2008). Pengaruh Corporate Governance dan Free Cash Flow terhadap Kinerja Perusahaan. Universitas Indonesia.

Lee, L. F. (2012). Incentives to Inflate Reported Cash from Operations Using Classification and Timing. The Accounting Review, 87(1), 1–33. https://doi.org/10.2308/accr-10156

MARC. (2012). METHODOLOGY RATING APPROACH TO SUKUK : A MARC PERSPECTIVE.

OJK. (2015). Statistik Sukuk Korporasi.

RAM. (2011). Criteria & Methodolgy: General Approach to Sukuk Ratings. Retrieved from www.ram.com.my

S&P. (2015). Methodology For Rating Sukuk.




DOI: https://doi.org/10.17509/strategic.v19i2.20443

Refbacks

  • There are currently no refbacks.


Creative Commons License

STRATEGIC is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License

View My Stats