PENGARUH RELATED PARTY TRANSACTION TERHADAP NILAI PERUSAHAAN
Keywords:
Related party transaction, nilai perusahaan
Abstract
Peneltian ini bertujuan untuk menguji pengaruh related party transction terhadap nilai perusahaan dengan dan tanpa menggunakan variabel kontrol. Variabel related party transaction diukur dengan sales of related party transaction (SRPT), purchase of related party transaction (PRPT), account receivable of related party transaction (ARRPT), dan account payable of related party transaction (APRPT). Variabel kontrol terdiri dari ukuran perusahaan dan corporate governance, sedangkan variabel dependen adalah nilai perusahaan yang diukur dengan menggunakan Tobin's Q. Sampel penelitian adalah perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia (BEI) pada periode penelitian 2010-2017. Sampel dipilih dengan menggunakan metode purposive sampling dan diperoleh sebanyak 42 perusahaan untuk dijadikan sampel. Penelitian ini menggunakan metode regresi data panel. Hasil peneltian menunjukkan SRPT, PRPT, ARRPT, APRPT tidak berpengaruh signifikan terhadap nilai perusahaan tanpa dan dengan menggunakan variabel kontrol.
References
Chen, Y., Chen, C.-H., & Chen, W. (2009). The impact of related party transactions on the operational performance of listed companies in China. Journal of Economic Policy Reform, 12, 285-297.
Clay, D. G. (2002). Institutional Ownership and Firm Value. Dissertation.
Darmodaran, A. (2011). Applied Corporate FInance. New York: John Wiley & Sons, Inc.
Direktorat Jenderal Pajak Kementrian Keuangan. (2011). Peraturan Direktur Jenderal Pajak tentang Perubahan atas Peraturan Direktur Jenderal Pajak PER-43/PJ/2010 Tentang Penerapan Prinsip Kewajaran dan Kelaziman Usaha dalam Transaksi antara Wajib Pajak dengan Pihak yang Mempunyai Hubungan Istimewa (PER-32/PJ/2011). Retrieved from https://peraturanpajak.com/2017/11/10/peratur-an-direktur-jenderal-pajak-nomor-per-43-pj-2010/.
Financial Accounting Standards Boards. (1982). Statement of Financial Accounting Standards No. 57: Relate Party Disclosures.
Gordon, E. A., Henry, E., & Palia, D. (2004). Related Party Transactions and Corporate Governance. Advances in Financial Economics, 9, 1-27.
Heri. (2017). Kajian Riset Akuntansi: Mengulas Berbagai Hasil Penelitian Terkini dalam Bidang Akuntansi dan Keuangan. Jakarta, Indonesia: PT Grasindo.
Huang, D.-T., & Liu, Z.-C. (2010). A study of the relationship between related party transactions and firm value in high technology firms in Taiwan and China. Afircan Journal of Business Management, 4, 1824-1931.
Ikatan Akutansi Indonesia. (2009). Pernyataan Standar Akutansi Keuangan No. 7: Pengungkapan Pihak-Pihak yang Mempunyai Hubungan Istimewa.
Jensen, M. C., & Meckling, W. H. (1976). Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure, Journal of Financial Economics 3, 305-360.
Mohapatara, P. (2016). Board Independence and Firm Peformence in India. International Journal Management Practice, 317-332.
Qomariah, N. (2015). The Effect of Corporate Social Responsibility, Size and Profitability Toward On the Value of Corporate (Studies in Manufacturing Companies Listed in Indonesia Stock Exchange). Journal of Business and Management, 17(2), 25-30.
Ross, S. A., Westerfield, R. W., & Jordan, B. D. (2010). Fundamentals of Corporate Finance. New York, United States of America: McGraw-Hill/Irwin.
Rutledge, R. W., Karim, K. E., & Lu, S. (2016). The Effects of Board Independence and CEO Duality on Firm Peformance: Evidence from the NASDAQ-100 Index with Controls for Endogeneity. Journal of Applied Business and Economics, 18(2).
Setiawan, H. (2014). Transfer Pricing dan Risikonya Terhadap Penerimaan Negara. Retrievedfrom https://www.kemenkeu.go.id/sites/default/files/2014_kajian_pprf_transfer%20pricing%20dan%20risikonya%20terhadap%20penerimaan%20negara.pdf.
Thanatawee, Y. (2014). Institutional Ownership and Firm Value in Thailand. Asian Journal of Business and Accounting, 7(2), 1-22.
Tsui, A. S., Bian, Y., & Cheng, L. (2015). China's Domestic Private Firms. New York, United States of Ame¬rica: Routledge.
Wong, R. M., Kim, J.-B., & Lo, A. W. (2015). Are Related-Party Sales Value-Adding or Value-Destroying? Evidence from China. Journal of International Financial Management & Accounting, 26(1), 1-38.
Yermack, D. (1996). Higher Market Valuation of Companies with a Small Board of Directiors. Journal of Financial Economics 40, 185-211.
Zeitun, R., & Tian, G. G. (2007). Capital Structure and Corporate Peformance: Evidence From Jordan. Australasian Accounting, Business and Finance Journal, 1(4), 40-61.
Clay, D. G. (2002). Institutional Ownership and Firm Value. Dissertation.
Darmodaran, A. (2011). Applied Corporate FInance. New York: John Wiley & Sons, Inc.
Direktorat Jenderal Pajak Kementrian Keuangan. (2011). Peraturan Direktur Jenderal Pajak tentang Perubahan atas Peraturan Direktur Jenderal Pajak PER-43/PJ/2010 Tentang Penerapan Prinsip Kewajaran dan Kelaziman Usaha dalam Transaksi antara Wajib Pajak dengan Pihak yang Mempunyai Hubungan Istimewa (PER-32/PJ/2011). Retrieved from https://peraturanpajak.com/2017/11/10/peratur-an-direktur-jenderal-pajak-nomor-per-43-pj-2010/.
Financial Accounting Standards Boards. (1982). Statement of Financial Accounting Standards No. 57: Relate Party Disclosures.
Gordon, E. A., Henry, E., & Palia, D. (2004). Related Party Transactions and Corporate Governance. Advances in Financial Economics, 9, 1-27.
Heri. (2017). Kajian Riset Akuntansi: Mengulas Berbagai Hasil Penelitian Terkini dalam Bidang Akuntansi dan Keuangan. Jakarta, Indonesia: PT Grasindo.
Huang, D.-T., & Liu, Z.-C. (2010). A study of the relationship between related party transactions and firm value in high technology firms in Taiwan and China. Afircan Journal of Business Management, 4, 1824-1931.
Ikatan Akutansi Indonesia. (2009). Pernyataan Standar Akutansi Keuangan No. 7: Pengungkapan Pihak-Pihak yang Mempunyai Hubungan Istimewa.
Jensen, M. C., & Meckling, W. H. (1976). Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure, Journal of Financial Economics 3, 305-360.
Mohapatara, P. (2016). Board Independence and Firm Peformence in India. International Journal Management Practice, 317-332.
Qomariah, N. (2015). The Effect of Corporate Social Responsibility, Size and Profitability Toward On the Value of Corporate (Studies in Manufacturing Companies Listed in Indonesia Stock Exchange). Journal of Business and Management, 17(2), 25-30.
Ross, S. A., Westerfield, R. W., & Jordan, B. D. (2010). Fundamentals of Corporate Finance. New York, United States of America: McGraw-Hill/Irwin.
Rutledge, R. W., Karim, K. E., & Lu, S. (2016). The Effects of Board Independence and CEO Duality on Firm Peformance: Evidence from the NASDAQ-100 Index with Controls for Endogeneity. Journal of Applied Business and Economics, 18(2).
Setiawan, H. (2014). Transfer Pricing dan Risikonya Terhadap Penerimaan Negara. Retrievedfrom https://www.kemenkeu.go.id/sites/default/files/2014_kajian_pprf_transfer%20pricing%20dan%20risikonya%20terhadap%20penerimaan%20negara.pdf.
Thanatawee, Y. (2014). Institutional Ownership and Firm Value in Thailand. Asian Journal of Business and Accounting, 7(2), 1-22.
Tsui, A. S., Bian, Y., & Cheng, L. (2015). China's Domestic Private Firms. New York, United States of Ame¬rica: Routledge.
Wong, R. M., Kim, J.-B., & Lo, A. W. (2015). Are Related-Party Sales Value-Adding or Value-Destroying? Evidence from China. Journal of International Financial Management & Accounting, 26(1), 1-38.
Yermack, D. (1996). Higher Market Valuation of Companies with a Small Board of Directiors. Journal of Financial Economics 40, 185-211.
Zeitun, R., & Tian, G. G. (2007). Capital Structure and Corporate Peformance: Evidence From Jordan. Australasian Accounting, Business and Finance Journal, 1(4), 40-61.
Published
2020-09-14
How to Cite
Anggala, A., & Basana, S. R. (2020). PENGARUH RELATED PARTY TRANSACTION TERHADAP NILAI PERUSAHAAN. International Journal of Financial and Investment Studies (IJFIS), 1(1), 42-52. https://doi.org/10.9744/ijfis.1.1.42-52
Section
Articles
Authors who publish in this journal agree to the following terms:
- Authors retain unrestricted copyright and full publishing rights. The authors grant the Publisher the right of first publication, with the work simultaneously licensed under the terms and conditions of the Creative Commons Attribution 4.0 International License.
- Authors can enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgment of its initial publication in this journal.
- Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) before and during the submission process, as it can lead to productive exchanges and earlier and more extraordinary citations of published work.
