PENGARUH MOTIF OPPORTUNISTIC, SIGNALING DAN CAPITAL REGULATION TERHADAP PENYISIHAN PENGHAPUSAN AKTIVA PRODUKTIF (Studi pada Bank-Bank Umum di Indonesia)

Abstract

The aims of this research at examining the influence of the opportunistic, signaling, capital regulation motives and type of ownership as moderate variable on the loan loss provision in national bank in Indonesia. The samples of this research is all of national banks existed in Indonesia from the year of 2004-2006. It is aimed to collect representative sample with settled criteria. There were 248 years-bank that fulfilled to the sample criterias. The data were collected from public bank’s financial statements for the period of 2004 until 2006 based on Indonesian Banking website and Financial Report published by bank in news paper. Type of ownership sample conform to degree of agency problem in dispersed ownership as represented of each type. The dependent variable is the total loan loss provision deflated total earnings assets. Opportunistic behavior motive is manifested into net income deflated by total asset. Signaling motive is manifested into a proxy of total loan to deposit ratio. Capital regulation motive is manifested into a proxy of capital adequacy ratio (CAR). Whereas, the type ownership is dummy variable, D1 is joint venture (foreign and domestic shareholder) bank; D2 is non public private bank; D3 is public bank; and D4 is state owned bank, which is used to support research hypotheses functions as interaction variable. The result shows that the empirical research on the effect of earnings management (opportunistic, signaling and capital regulation) motive and type of ownership to the bank performance can be explained by agency theory even banking industry faces more complex dimension of principal agency problems that cannot be found in non-financial banking industry. The research findings are: sample agregat generate that the test result of opportunistic and signaling motive did not negative effects significantly on loan loss provision; capital motive brings about significant and positive effect on loan loss provision; signaling motive did not effects on loan loss provision; the different type of bank ownership moderates opportunistic, signaling and capital motive effect on loan loss provision. Keywords: bank, opportunistic, signaling, capital regulation, earnings management, motive, type of ownership and loan loss provision Penelitian ini bertujuan menyelidiki pengaruh motif manajemen laba (opportunistic, signaling, capital regulation) dan jenis kepemilikan terhadap penyisihan penghapusan aktiva produktif. Populasi penelitian ini adalah bank berskala nasional di Indonesia yang terdaftar di Bank Indonesia dari tahun 2004 sampai dengan 2006. Dasar pemilihan periode amatan tersebut karena alasan kecukupan dan ketersediaan data. Jumlah bank berskala nasional yang beroperasi di Indonesia dari tahun 2004 sampai dengan 2006. Sampel dipilih secara purposive random sampling dengan tipe judgmental sampling. Sampel yang digunakan untuk pengujian hipotesis adalah 248 observasi (bank-tahun). Data dikumpulkan dari laporan keuangan yang terdapat dalam situs Bank Indonesia dan laporan keuangan yang dipublikasikan di media masa. Klasifikasi jenis kepemilikan didasarkan pada derajat konflik keagenan pada setiap jenis kepemilikan. Variabel terikat adalah penyisihan penghapusan aktiva produktif. Variabel bebas meliputi: opportunistic motive diproksikan dengan laba bersih (net income). Variabel signaling motive diproksikan dengan loans to deposit ratio. Variabel capital regulation motive diproksikan dengan capital adequacy ratio. Jenis kepemilikan diukur dengan dummy variable (D1= Bank Campuran; D2=Bank Swasta Tertutup; D3= Bank Swasta Publik dan D4= Bank Pemerintah). Analisis industri perbankan dengan menggunakan pendekatan teori keagenan memberikan simpulan yang berbeda dengan prediksi teori karena adanya ketidakkonsistenan koefisien dan nilai probabilitas masing-masing variabel . Hasil pengujian menunjukkan bahwa: (a) opportunistic motive tidak berpengaruh positif dan signifikan terhadap penyisihan penghapusan aktiva produktif, (b) signaling motive berpengaruh positif dan signifikan terhadap penyisihan penghapusan aktiva produktif, (c) capital regulation motive berpengaruh negatif dan signifikan terhadap penyisihan penghapusan aktiva produktif, (d) jenis kepemilikan memoderasi pengaruh opportunistic motive terhadap penyisihan penghapusan aktiva produktif, (e) jenis kepemilikan memoderasi pengaruh signaling motive terhadap penyisihan penghapusan aktiva produktif dan (f) jenis kepemilikan memoderasi pengaruh capital regulation motive terhadap penyisihan penghapusan aktiva produktif.