Strategi di tingkat operasional akan memegang kendali utama terlaksananya tujuan perusahaan dalam mencari keuntungan. Memberikan perhatian kepada lingkungan merupakan cara terbaik untuk merumuskan strategi yang akan diterapkan guna menghadapi persaingan. Lingkungan Internal berkaitan dengan kekuatan dan kelemahan yang dimiliki oleh perusahaan. Lingkungan eksternal adalah lingkungan umum serta lingkungan industri di luar internal perusahaan yang merupakan suatu peluang atau hambatan bagi perusahaan.
This study attempts to examine whether there is significant increase in earnings level prior to the offering to be interpreted as the existence of earnings management. The behaviour of cash flow from operation is also examined. A sample of 35 Indonesian IPOs that made public during periods was examined.
The t-test for mean difference was performed to test whether earnings differences persist. The findings show that earnings level tends increase in the year closes to the IPO date, but decrease in the next two year after that.
The behaviour of cash flow from operating activities is almost similar. However, this study is unable to state that earnings management is strongly evidenced in Indonesian IPO setting. Companies offering shares publicly for listing are required by the securities law to meet certain financial and operating criteria.
Because of the major impact of the offering prices on their private wealth and the explicit use of accounting numbers, particularly accounting earnings, the managers and the major stockholders of IPO firms have the incentives to manage earnings numbers to maximize their private wealth.
According to Healy and Wahlen We interpret this broad definition as including earnings management in IPO.
Thus, a better understanding of how earnings management occurs could help 1 regulators and standard setters identify the areas most in need of regulatory change; 2 auditors evaluate and report on their clients' quality of earnings, and train novice auditors about earnings management; 3 CEOs, CFOs, audit committees, and investors focus attention on those areas of the financial statements where they should be most skeptical; 4 managers and audit committees anticipate the transactions that investors will view most skeptically; 5 educators teach students about earnings management; and 6 researchers focus their analyses on areas of high-earnings-management activity.Scribd is the world's largest social reading and publishing site.
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