PENGARUH PERUBAHAN STRUKTUR KEPEMILIKAN PERUSAHAAN TERHADAP PERMINTAAN KUALITAS AUDITOR PADA EKONOMI TRANSISIONAL

Abstract

The purpose of this study was to provide empirical evidence of the affect of changes in corporate ownership structure on the demand of auditor quality in transitional economy. Changes in corporate ownership was measured by changes in the percentage of shares held by the state, institutions, and individual shareholders. The demand of auditor quality was measured by natural logarithm of the ratio of combined assets of the listed companies audited by the new auditor to that by the old auditor. Transitional economy in Indonesia which related with ownership structure was about privatization act. This study also used variable control that consists of size, leverage, ROE, subsidiary, and management. The population of this study was 9 state-owned enterprises (SOEs) which were listed in Indonesia Stock Exchange (IDX). The research data were collected for the period of 2004 to 2009. Based on purposive sampling method, there are 54 samples. The research hypothesis was tested using linear regression. This study has three conclusions related on changes in corporate ownership structure and the demand of auditor quality. We find that a decrease of government shares and an increase of institutional shares lead to a general increase in the demand of auditor quality. However, the influence of individual shareholders on a firm’s auditor-choice decisions appears insignificant.