Transformasi Dewan Direksi Perusahaan BUMN melalui Pendekatan Perilaku Akuntansi Guna Antisipasi Resesi Global

https://doi.org/10.35912/jakman.v4i2.1596
Published: Mar 9, 2023

Abstract:

The board of change directors who are too "easy to come and easy to go" can worsen the company's performance conditions and increase the risks faced by the company.

Purpose: The purpose of this research is to provide recommendations on the transformation of the board of directors so as not to give the impression of being dislodged, and as a strategic step in dealing with the world recession.

Methodology: Research was in state-owned company which published financial reports on the Jakarta Stock Exchange. We desain the quantitative correlation between independent and dependent variables with or not using variable control. The study also involved Nine financial ratios to reflect a broader range of corporate conditions.

Results: The results are First, H1 is accepted that skill is correlated to Return on Asset and Fixed Asset Turnover. Secondly, H2 is accepted that tenure is not correlated to financial performance. Third, H3 the ratio of a board of independent directors is correlated to profit Margin, net profit margin and cash ratio. Originality of the research, this study provided an idea of a new board performance director to anticipate bankruptcy indications of firms characterized by ROA and Fixed Asset Turnover, profit margin, cash ratio and net profit margin.

Limitation: This research was conducted from 2009-2016 at a state-owned company which published financial reports on the Jakarta Stock Exchange.

Keywords:
1. Transformation
2. Global Recession
3. Financial Performance
4. New Aboard Performance
5. Skill Characteristics
Authors:
1 . Ade Manggala Hardianto
2 . Diah Permata Sari
3 . Tevi Leviany
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Hardianto, A. M. ., Sari, D. P. ., & Leviany, T. . (2023). Transformasi Dewan Direksi Perusahaan BUMN melalui Pendekatan Perilaku Akuntansi Guna Antisipasi Resesi Global . Jurnal Akuntansi, Keuangan, Dan Manajemen, 4(2), 129–140. https://doi.org/10.35912/jakman.v4i2.1596
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Issue & Section
Vol. 4 No. 2 (2023): Maret
Articles
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  1. Agyei-Mensah, B. K., & Buertey, S. (2018). The effect of corruption and culture on corporate social performance: an empirical study. Social Responsibility Journal.
  2. Aldamen, H., & Duncan, K. (2016). Does good corporate governance enhance accruals quality during financial crises? Managerial Auditing Journal, 31(4/5), 434-457.
  3. Amankwah-Amoah, J. (2015). Safety or no safety in numbers? Governments, big data and public policy formulation. Industrial Management & Data Systems.
  4. Arunruangsirilert, T., & Chonglerttham, S. (2017). Effect of corporate governance characteristics on strategic management accounting in Thailand.
  5. Asthana, S., & Balsam, S. (2010). The impact of changes in firm performance and risk on director turnover. Review of Accounting and Finance.
  6. Ba?ak, S., K?l?nç, ?., & Ünal, A. (2022). The effect of big data in transforming to learning organization a single-case study in IT sector. VINE Journal of Information and Knowledge Management Systems.
  7. Beaver, G., Davies, A., & Joyce, P. (2007). Leadership boards of directors. Business Strategy Series.
  8. Benkraiem, R., Hamrouni, A., Lakhal, F., & Toumi, N. (2017). Board independence, gender diversity and CEO compensation. Corporate Governance: The international journal of business in society.
  9. Bushman, R., Dai, Z., & Wang, X. (2010). Risk and CEO turnover. Journal of Financial Economics, 96(3), 381-398.
  10. Chang, K., Kang, E., & Li, Y. (2016). Effect of institutional ownership on dividends: An agency-theory-based analysis. Journal of Business Research, 69(7), 2551-2559.
  11. Collis, D. J., & Montgomery, C. A. (2014). Corporate Strategy. In Corporate Strategy (second edi). The McGraw-Hill Companies, Inc., 1221 Avenue of the Americas. https://doi.org/10.4135/9781446261200
  12. Dahiya, R., & Raghuvanshi, J. (2021). Measure human capital because people really matter: development and validation of human capital scale (HuCapS). International Journal of Productivity and Performance Management.
  13. Dimarcia, N. L. F. R., & Krisnadewi, K. A. (2016). Pengaruh diversifikasi operasi, leverage dan kepemilikan manajerial pada manajemen laba. E-Jurnal Akuntansi, 15(3), 2324-2351.
  14. El Samad, M., El Nemar, S., Sakka, G., & El-Chaarani, H. (2022). An innovative big data framework for exploring the impact on decision-making in the European Mediterranean healthcare sector. EuroMed Journal of Business.
  15. Elms, N., Nicholson, G., & Pugliese, A. (2015). The importance of group-fit in new director selection. Management Decision.
  16. Fehr, D. (2017). Costly communication and learning from failure in organizational coordination. European Economic Review, 93, 106-122.
  17. Feng, L., Zhang, R., & McCornac, D. (2016). An analysis of restrictive mechanisms on director behavior regarding corporate philanthropy in China. International Journal of Law and Management.
  18. Filatotchev, I., Toms, S., & Wright, M. (2006). The firm's strategic dynamics and corporate governance life?cycle. International Journal of Managerial Finance.
  19. Fiordelisi, F., & Ricci, O. (2014). Corporate culture and CEO turnover. Journal of Corporate Finance, 28, 66-82.
  20. Franco, M., Neves, D., Haase, H., & Rodrigues, M. (2021). The importance of intellectual capital in networks formed by start-ups. International Journal of Organizational Analysis.
  21. Ilina, Y., Berezinets, I., & Yulia Ilina, Irina Berezinets, A. C. (2015). "Board structure, board committees and corporate performance in Russia. Journal of Service Management, 26(2), 182–205. https://doi.org/10.1108/MBE-09-2016-0047
  22. Kabir, H., & Rahman, A. (2016). The role of corporate governance in accounting discretion under IFRS: Goodwill impairment in Australia. Journal of Contemporary Accounting & Economics, 12(3), 290-308.
  23. Kim, W. C., & Mauborgne, R. (2005). Blue Ocean Strategy: Harvard Business School Publishing Corporation.
  24. Knapp, M. S., & Feldman, S. B. (2012). Managing the intersection of internal and external accountability: Challenge for urban school leadership in the United States. Journal of educational administration.
  25. Lane, S., Astrachan, J., Keyt, A., & McMillan, K. (2006). Guidelines for family business boards of directors. Family Business Review, 19(2), 147-167.
  26. Manan, M. A., & Hasnawati, S. (2022). Pengaruh Good Corporate Governance terhadap Financial Distress yang di Kontrol oleh Ukuran Perusahaan pada Perusahaan Industri Sektor Manufaktur di Indonesia. Jurnal Akuntansi, Keuangan, dan Manajemen, 3(4), 279-292.
  27. Murphy, S. A., & McIntyre, M. L. (2007). Board of director performance: a group dynamics perspective. Corporate Governance: The international journal of business in society.
  28. Mwenja, D., & Lewis, A. (2009). Exploring the impact of the board of directors on the performance of not?for?profit organizations. Business Strategy Series.
  29. Nakashima, M., & Ziebart, D. A. (2015). Did Japanese-SOX have an impact on earnings management and earnings quality? Managerial Auditing Journal.
  30. Nas, T. I., & Kalaycioglu, O. (2016). The effects of the board composition, board size and CEO duality on export performance: Evidence from Turkey. Management Research Review.
  31. Nicholson, G., Pugliese, A., & Bezemer, P.-J. (2017). Habitual accountability routines in the boardroom: How boards balance control and collaboration. Accounting, Auditing & Accountability Journal.
  32. Ntow-Gyamfi, M., Bokpin, G. A., & Gemegah, A. (2015). Corporate governance and transparency: Evidence from stock return synchronicity. Journal of Financial Economic Policy.
  33. O'Connor, T., & Byrne, J. (2015). When does corporate governance matter? Evidence from across the corporate life-cycle. Managerial Finance.
  34. Pauleen, D. J., & Wang, W. Y. (2017). Does big data mean big knowledge? KM perspectives on big data and analytics. Journal of Knowledge Management.
  35. Prastiti, R. R., & Sulistiyo, H. (2022). Penilaian Performa Keuangan PT. Kalbe Farma Tbk. dengan Metode Du Pont System. Jurnal Akuntansi, Keuangan, dan Manajemen, 3(4), 293-306.
  36. Tandiawan, W. (2022). Business Perfomance Evaluation of a Recreation Company in Indonesia Using Balanced Scorecard. Jurnal Akuntansi, Keuangan, dan Manajemen, 3(4), 359-373.
  37. Tsai, W.-H., Hung, J.-H., Kuo, Y.-C., & Kuo, L. (2006). CEO tenure in Taiwanese family and nonfamily firms: An agency theory perspective. Family Business Review, 19(1), 11-28.
  38. Victory, C. O., Promise, E., & Mike, C. N. (2022). Impact of Cyber-Security on Fraud Prevention in Nigerian Commercial Banks. Jurnal Akuntansi, Keuangan, dan Manajemen, 4(1), 15-27.
  39. Yasser, Q. R., Al Mamun, A., & Rodrigs, M. (2017). Impact of board structure on firm performance: evidence from an emerging economy. Journal of Asia Business Studies.
  40. Ye, Q., & Li, Z. (2017). Do independent directors play a political role? Evidence from independent directors’ death events. China Journal of Accounting Research, 10(4), 295-316.
  41. Zarezadeh, Z. Z., Rastegar, R., & Xiang, Z. (2022). Big data analytics and hotel guest experience: a critical analysis of the literature. International Journal of Contemporary Hospitality Management.
  42. Zhou, H., Chen, H., & Cheng, Z. (2016). Internal control, corporate life cycle, and firm performance. In The Political Economy of Chinese Finance: Emerald Group Publishing Limited.