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The Effect of Audit Committee Characteristics on Timeliness of Financial Reporting ...... Image
Journal article

The Effect of Audit Committee Characteristics on Timeliness of Financial Reporting ......

This study examines the effects of the audit committee independence, audit committee activity, audit committee competence, and moderating auditor quality on the timeliness of financial reporting in manufacturing companies in Indonesia. The variables used in this study are timeliness of financial reporting, audit committee independence, audit committee activity, audit committee competence, and auditor quality. This study used purposive sampling method with the population of manufacturing companies in Indonesia. The sample used in this study was 92 manufacturing companies listed in Indonesia Stock Exchange (IDX) for the period of 2010-2012. The data of this study were financial statement of the manufacturing companies which were collected from the Indonesia Stock Exchange official website. The hypotheses were tested using hierarchical regression analysis. The results showed that the audit committee independence and the audit committee activity negatively affect the timeliness of financial reporting while these results do not support the agency theory. However, another variable examined in this study, namely competence of the audit committee, is not proven to affect the timeliness of the financial reporting. Similarly, the finding of the moderating variable reveals that the auditor quality strengthens the relationship between audit committee independence and financial report timeliness, and audit committee activity and financial report timeliness. On the other hand, auditor quality does not strengthen the correlation between audit committee competence and timeliness of financial reporting.
The Effect of Acquiring Firm\u0027s Growth Opportunity on the Value Relevance of Goodwill Image
Journal article

The Effect of Acquiring Firm's Growth Opportunity on the Value Relevance of Goodwill

In recent years, mergers and acquisitions (M&A) have become increasingly important for Japanese firms to achieve growth. In this situation, how does the stock market recognize and evaluate the goodwill generated as a consequence of M&A? Given that Japanese companies have increasingly used M&A as for a tool for growth, we can say that the growth opportunity of the acquiring firms is an important factor that affects valuation of goodwill in the stock market. In this study, we investigate the link between growth opportunity and the value of goodwill in the stock market.The results of our study show that the market valuation of newly acquired goodwill is positively influenced by the growth opportunities of acquiring firms in Japan. Therefore, this study implies that M&A works better when it is done to utilize internal growth opportunity rather than to incorporate external growth opportunities into the firm.
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How Fast Tobacco Can Be: the Logistical Process at Rothmans of Pall Mall Indonesia in the 1997 Indonesian Economic Crisis Image
Journal article

How Fast Tobacco Can Be: the Logistical Process at Rothmans of Pall Mall Indonesia in the 1997 Indonesian Economic Crisis

Every year Rothmans International Group publishes a geographical business report. In this report the different Asian geographical regions are compared with one another concerning profit, costs, sales etc. Before 1996, Rothmans of Pall Mall Indonesia was always at the 1st place concerning profit. This is because of the low costs spent in Indonesia. In 1996 profits were declining and their place at the hit list was taken by Malaysia. This wakened the management in Jakarta and Malang. The Profit numbers were still declining due the higher costs than expected (sales maintain constant). The costs increased in the year of 1996 with 10% (usually between 4% and 6%). Those 10% total for a RP 2,6 billion: 1996.
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