Yessy Aryanti Lestari, Zahroh Naimah


Abstrak: Peran Entrenchment Effect dari konsentrasi kepemilikan untuk Peningkatan Kualitas Laba. Tujuan penelitian adalah menguji peran moderasi konsentrasi kepemilikan dalam pengaruh pengungkapan informasi laporan keberlanjutan terhadap kualitas laba. Metode penelitian yang digunakan moderating regression analysis dengan sampel 447 laporan periode 2010-2018. Penelitian ini menemukan adanya peran entrenchment effect dari konsentrasi kepemilikan untuk memoderasi pengungkapan informasi keberlanjutan terhadap kualitas laba. Perusahaan terkonsentrasi dapat menjadikan pengungkapan informasi keberlanjutan untuk bertindak oportunis. Selain itu, temuan ini juga menunjukkan bahwa perusahaan perlu mempertimbangkan banyak aspek yang berkaitan dalam menyusun peningkatan kualitas laba.


Abstract: Entrenchment Effect Role of Ownership Concentration for Increasing Earnings Quality. The research objective was to examine the moderating role of ownership concentration in the effect of disclosure of sustainability report information on earnings quality. The research method used is moderating regression analysis with a sample of 447 reports for the 2010-2018 period. This study found the role of the entrenchment effect of ownership concentration to moderate the disclosure of sustainability information on earnings quality. Concentrated companies can make disclosure of sustainability information to act opportunistically. In addition, these findings also indicate that companies need to consider many aspects related to developing earnings quality.


konsentrasi kepemilikan; kualitas laba; laporan keberlanjutan; tata kelola


Abidin, S., Reddy, K., & Chen, L. (2012). Determinants of Ownership Structure and Performance of Seasoned Equity Offerings: Evidence from Chinese Stock Markets. International Journal of Managerial Finance.

Albitar, K., Hussainey, K., Kolade, N., & Gerged, A. M. (2020). ESG Disclosure and Firm Performance Before and After IR: The Moderating Role of Governance Mechanisms. International Journal of Accounting and Information Management, 28(3), 429-444.

Alfraih, M. M., & Almutawa, A. M. (2017). Voluntary Disclosure and Corporate Governance: Empirical Evidence from Kuwait. International Journal of Law and Management, 59(2), 217-236.

Alipour, M., Ghanbari, M., Jamshidinavid, B., & Taherabadi, A. (2019). The Relationship between Environmental Disclosure Quality and Earnings Quality: A Panel Study of an Emerging Market. Journal of Asia Business Studies, 13(2), 326–347.

Altaf, N., & Shah, F. A. (2018). Ownership Concentration and Firm Performance in Indian Firms: Does Investor Protection Quality Matter? Journal of Indian Business Research, 10(1), 33–52.

Alrayes, S. A. (2019). Shareholder Empowerment, Steps Forward And Steps Back: Comparative Analysis of the US and UK Regulations. Journal of Financial Regulation and Compliance, 27(2), 169-196.

Alzoubi, E. S. S. (2016). Ownership Structure and Earnings Management: Evidence from Jordan. International Journal of Accounting and Information Management, 24(2), 135–161.

Arthur, N., Chen, H., & Tang, Q. (2019). Corporate Ownership Concentration and Financial Reporting Quality: International Evidence. Journal of Financial Reporting and Accounting, 17(1), 104–132.

Beyer, A., Guttman, I., & Marinovic, I. (2019). Earnings Management and Earnings Quality: Theory and Evidence. The Accounting Review, 94(4), 77–101.

Borghesi, R., Houston, J. F., & Naranjo, A. (2014). Corporate Socially Responsible Investments: CEO Altruism, Reputation, and Shareholder Interests. Journal of Corporate Finance, 26, 164-181.

Campa, D. (2019). Earnings Management Strategies during Financial Difficulties: A Comparison between Listed and Unlisted French Companies. Research in International Business and Finance, 50, 457-471.

Cheng, B., Ioannou, I., & Serafeim, G. (2014). Corporate Social Responsibility and Access to Finance. Strategic Management Journal, 35(1), 1-23.

Cheng, C. S. A., Wang, J., & Wei, S. X. (2015). State Ownership and Earnings Management around Initial Public Offerings: Evidence from China. Journal of International Accounting Research, 14(2), 89–116.

Choi, B. B., Lee, D., & Park, Y. (2013). Corporate Social Responsibility, Corporate Governance and Earnings Quality: Evidence from Korea. Corporate Governance: An International Review, 21(5), 447-467.

Craninckx, K., & Huyghebaert, N. (2015). Large Shareholders and Value Creation through Corporate Acquisitions in Europe: The Identity of the Controlling Shareholder Matters. European Management Journal, 33(2), 116-131.

Dissanayake, D., Tilt, C., & Xydias-Lobo, M. (2016). Sustainability Reporting by Publicly Listed Companies in Sri Lanka. Journal of Cleaner Production, 129, 169–182.

Engel, P. J., Hack, A., Stanley, L. J., & Kellermanns, F. W. (2019). Voluntary Disclosure of Individual Supervisory Board Compensation in Public Family Firms. Journal of Business Research, 101, 362-274.

Farhana, S., & Adelina, Y. E. (2019). Relevansi Nilai Laporan Keberlanjutan di Indonesia. Jurnal Akuntansi Multiparadigma, 10(3), 615-628.

Feng, Z. Y., Wang, M. L., & Huang, H. W. (2015). Equity Financing and Social Responsibility: Further International Evidence. The International Journal of Accounting, 50(3), 247-280.

Gao, L., & Zhang, J. H. (2015). Firms’ Earnings Smoothing, Corporate Social Responsibility, and Valuation. Journal of Corporate Finance, 32, 108-127.

Grougiou, V., Leventis, S., Dedoulis, E., & Owusu-Ansah, S. (2014). Corporate Social Responsibility and Earnings Management in U.S. Banks. Accounting Forum, 38(3), 155-169.

Frenkel, S., Guttman, I., & Kremer, I. (2020). The Effect of Exogenous Information on Voluntary Disclosure and Market Quality. Journal of Financial Economics, 138(1), 176-192.

Hapsari, D. W., Qashash, V., & Manurung, D. T. H. (2019). Implikasi Corporate Governance dalam Pelaksanaan Integrated Reporting pada BUMN Nonkeuangan. Jurnal Akuntansi Multiparadigma, 10(3), 537-549.

Ibrahim, M. S., Darus, F., Yusoff, H., & Muhamad, R. (2015). Analysis of Earnings Management Practices and Sustainability Reporting for Corporations that Offer Islamic Products & Services. Procedia Economics and Finance, 28, 176–182.

Kim, Y., Park, M. S., & Wier, B. (2012). Is Earnings Quality Associated with Corporate Social Responsibility? The Accounting Review, 87(3), 761–796.

Kuang, Y. F., Qin, B., & Wielhouwer, J. L. (2014). CEO Origin and Accrual-Based Earnings Management. Accounting Horizons, 28(3), 605–626.

Lahouel, B. B., Peretti, J. M., & Autissier, D. (2014). Stakeholder Power and Corporate Social Performance: The Ownership Effect. Corporate Governance, 14(3), 363-381.

Laskar, N. (2018). Impact of Corporate Sustainability Reporting on Firm Performance: An Empirical Examination in Asia. Journal of Asia Business Studies, 12(4), 571-593.

Litt, B., Sharma, D., & Sharma, V. (2014). Environmental Initiatives and Earnings Management. Managerial Auditing Journal, 29(1), 76-106.

Liu, M., Shi, Y., Wilson, C., & Wu, Z. (2017). Does Family Involvement Explain Why Corporate Social Responsibility Affects Earnings Management? Journal of Business Research, 75, 8-16.

Luo, B. (2019). Short-Term Management Earnings Forecasts and Earnings Management through Real Activities Manipulation. Asian Review of Accounting, 28(1), 110-138.

Manurung, D. T. H., & Kusumah, R. W. R. (2016). Telaah Enterprise Risk Management melalui Corporate Governance dan Konsentrasi Kepemilikan. Jurnal Akuntansi Multiparadigma, 7(3), 335-348.

Muttakin, M. B., Khan, A., & Azim, M. I. (2015). Corporate Social Responsibility Disclosures and Earnings Quality: Are They a Reflection of Managers’ Opportunistic Behavior? Managerial Auditing Journal, 30(3), 277–298.

Nelson, S. P., & Mohamed-Rusdi, N. F. (2015). Ownership Structures Influence on Audit Fee. Journal of Accounting in Emerging Economies, 5(4), 457-478.

Nyombi, C. (2015). A Critique of Shareholder Primacy under UK Takeover Law and the Continued Imposition of the Board Neutrality Rule. International Journal of Law and Management, 57(4), 235-264.

Orazalin, N. (2019). Corporate Governance and Corporate Social Responsibility (CSR) Disclosure in an Emerging Economy: Evidence from Commercial Banks of Kazakhstan. Corporate Governance, 19(3), 490-507.

Peng, C., & Yang, M. (2014). The Effect of Corporate Social Performance on Financial Performance: The Moderating Effect of Ownership Concentration. Journal of Business Ethics. 123, 171–182.

Peterson, K., Schmardebeck, R., & Wilks, T. J. (2015). The Earnings Quality and Information Processing Effects of Accounting Consistency. The Accounting Review, 90(6), 2483–2514.

Rezaee, Z. (2016). Business Sustainability Research: A Theoretical and Integrated Perspective. Journal of Accounting Literature, 36, 48-64.

Saha, A. K. (2019). Relationship between Corporate Social Responsibility Performance and Disclosures: Commercial Banks of Bangladesh. Social Responsibility Journal, 15(4), 451-468.

Saridakis, C., Angelidou, S., & Woodside, A. G. (2020). What Type of CSR Engagement Suits My Firm Best? Evidence from an Abductively-Derived Typology. Journal of Business Research, 108, 174-187.

Shyu, J. (2013). Ownership Structure, Capital Structure, and Performance of Group Affiliation: Evidence from Taiwanese Group‐Affiliated Firms. Managerial Finance, 39(4), 404-420.

Sun, N., Salama, A., Hussainey, K., & Habbash, M. (2010). Corporate Environmental Disclosure, Corporate Governance, and Earnings Management. Managerial Auditing Journal, 25(7), 679-700.

Utama, C. A., Utama, S., & Amarullah, F. (2017). Corporate Governance and Ownership Structure: Indonesia Evidence. Corporate Governance (Bingley), 17(2), 165–191.

Vorst, P. (2016). Real Earnings Management and Long-Term Operating Performance: The Role of Reversals in Discretionary Investment Cuts. The Accounting Review, 91(4), 1219–1256.

Wang, Z. H. (2016). On the Impact of Outside Blockholders’ Voting Power. Corporate Governance, 16(2), 330-346.

Yasser, Q. R., Mamun, A. A., & Hook, M. (2017). The Impact of Ownership Structure on Financial Reporting Quality in the East. International Journal of Organizational Analysis, 25(2), 178-197.



  • There are currently no refbacks.

Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.