TRANSAKSI PIHAK BERELASI, PERAN AUDITOR, DAN NILAI PERUSAHAAN: BUKTI DARI INDONESIA

Servatia Mayang Setyowati
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Abstract

ABSTRACT The study investigates the role of auditor in mitigating the effect of related party transactions on firm value. This study observed 439 non-financial firms from publicly listed firms in Indonesia during 2016-2019. Based on OLS regression analysis, there is evidence that related party transactions are related to firm value. Related party transactions reflect entrenchment effect of majority shareholders that can be captured by the market. This study founds no evidence that differences in the types of external auditor reflect an alignment effect of insiders. This study infers that the role of auditor is not significant in type II agency problem. Keywords: Related party transactions, auditor, firm value, entrenchment, alignment.ABSTRAKPenelitian menginvestigasi peran auditor dalam memitigasi pengaruh transaksi pihak berelasi terhadap penurunan nilai perusahaan. Penelitian ini mengobservasi 439 perusahaan non-keuangan Indonesia selama periode 2016-2019. Berdasarkan analisis regresi OLS ditemukan bukti bahwa terdapat hubungan antara transaksi berelasi dengan penurunan nilai perusahaan. Transaksi berelasi mencerminkan sifat entrenchment pemegang saham mayoritas yang dapat ditangkap oleh pasar. Penelitian ini tidak menemukan bukti bahwa perbedaan tipe auditor eksternal mengisyaratkan sifat alignment insiders yang dapat memitigasi penurunan nilai perusahaan. Penelitian ini menyimpulkan bahwa peran auditor tidak signifikan pada konflik keagenan tipe II. Kata Kunci: Transaksi pihak berelasi, auditor, nilai perusahaan, entrenchment, alignment
交易规则、审计师角色和公司价值:印尼证据
摘要这项研究观察了2016-2019年印尼上市公司中的439家非金融公司。基于OLS回归分析,有证据表明关联方交易与企业价值相关。关联交易反映了市场能够捕捉到的大股东的稳固效应。本研究没有发现任何证据表明外部审计师类型的差异反映了内部人的一致性效应。本研究推断审计师在第二类代理问题中的作用并不显著。关键词:关联方交易,审计师,公司价值,巩固,调整。ABSTRAKResearch调查审计师在评估各方交易对公司价值下降的影响方面的作用。这项研究在2016-2019年期间登记了439家印尼非金融公司。基于OLS回归分析,有证据表明交易与公司价值下降之间存在关系。合理的交易反映了大股东可以被市场捕获的稳固财产。这项研究没有发现任何证据表明,外部审计师类型的差异预设了可以三角测量公司价值下降的内部人员的特征。本研究得出的结论是,审计师在第二类波动性冲突中的作用并不显著。关键词:合理的交易、审计师、公司价值、巩固、结盟
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