Pengaruh Kekuatan Pasar dan Persaingan Industri Terhadap Hubungan Tata Kelola Perusahaan dan Manajemen Laba

Cindy Alexandra, Rizky Eriandani


This study examines how market forces and industry competition affect the correlation between corporate governance and earnings management. The test breaks the sample based on market forces and industry competition. The research sample uses non-financial companies listed on the Indonesia Stock Exchange (IDX) throughout the 2018-2020 period. The results of this study state that when market power is high, earnings management is low, while industrial competition does not affect earnings management. In its influence on the relationship between good corporate governance and earnings management, only market power have an influence so that only market power cause the inconsistency.

Penelitian ini bertujuan menguji bagaimana kekuatan pasar dan persaingan industri mempengaruhi korelasi antara tata kelola perusahaan dengan manajemen laba. Pengujian dilakukan dengan pecah sampel bedasarkan kekuatan pasar dan persaingan industry. Sampel penelitian menggunakan perusahaan non-keuangan yanng terdaftar di Bursa Efek Indonesia (BEI) sepanjang periode 2018-2020. Hasil dari penelitian ini menyatakan ketika kekuatan pasar tinggi maka manajemen laba rendah sedangkan persaingan industri tidak mempengaruhi manajemen laba. Dalam pengaruhnya terhadap hubungan tata kelola perusahaan dengan manajemen laba, hanya kekuatan pasar yang memiliki pengaruh sehingga hanya kekuatan pasar yang menyebabkan ketidakkonsistenan tersebut.


Manajemen Laba; Kekuatan Pasar; Persaingan Industri; Tata Kelola Perusahaan

Full Text:



Adnan, Z., Abdullah, H. S., & Ahmad, J. (2016). Assessing the Moderating Effect of Competition Intensity on HRM Practices and Organizational Performance Link: The Experience of Malaysian R&D Companies. Procedia Economics and Finance, 35(7), 462–467.

Al-Absy, M. S. M., Ismail, K. N. I. K., Chandren, S., & Al-Dubai, S. A. A. (2020). Involvement of board chairmen in audit committees and earnings management: Evidence from Malaysia. Journal of Asian Finance, Economics and Business, 7(8).

Ali, A., Chen, T.-Y., & Radhakrishnan, S. (2007). Corporate Disclosures by Family Firms. Journal of Accounting and Economics, 44, 238–386.

Aluchna, M. (2009). Does Good Corporate Governance Matter? Best Practice In Poland. Management Research News, 32(2), 185–198.

Booth, J. R., Cornett, M. M., & Tehranian, H. (2002). Boards of Directors, Ownership, and Regulation. Journal of Banking and Finance, 26(10), 1973–1996.

Case, K. E., Fair, R. C., & Oster, S. M. (2012). Principles of Economics 10th Edition.

Chang, H. Y., Liang, L. H., & Yu, H. F. (2019). Market power, competition and earnings management: accrual-based activities. Journal of Financial Economic Policy, 11(3), 368–384.

Church, J., & Ware, R. (2000). Industrial Organization: A Strategic Approach.

Claessens, S., Djankov, S., & Lang, L. H. P. (2000). The Separation of Ownership and Control in East Asian corporations. In Journal of Financial Economics (Vol. 58).

Datta, S., Iskandar-Datta, M., & Sharma, V. (2011). Product Market Pricing Power, Industry Concentration and Analysts’ Earnings Forecasts. Journal of Banking and Finance, 35(6), 1352–1366.

Datta, S., Iskandar-Datta, M., & Singh, V. (2013). Product market power, industry structure, and corporate earnings management. Journal of Banking and Finance, 37(8), 3273–3285.

Dechow, P. M., Sloan, R. G., & Sweeney, A. P. (1996). Causes and consequences of earnings manipulation: An analysis of firms subject to enforcement actions by the SEC. Contemporary Accounting Research, 13(1), 1–36.

Ditta, A. S. A., & Setiawan, D. (2019). Corporate governance in Indonesia: One decade perspective. Jurnal Keuangan Dan Perbankan, 23(1).

Dwiyanti, K. T., & Astriena, M. (2018). Pengaruh Kepemilikan Keluarga Dan Karakteristik Komite Audit Terhadap Manajemen Laba. Jurnal Riset Akuntansi Dan Bisnis Airlangga, 3(2), 447–469.

Eriandani, R., Pirzada, K., & Kurniawan, M. K. (2020). The role of auditor characteristics: Earnings management and audit committee effectiveness. Entrepreneurship and Sustainability Issues, 7(4), 3242–3252.

Ghazali, A. W., Shafie, N. A., & Sanusi, Z. M. (2015). Earnings Management: An Analysis of Opportunistic Behaviour, Monitoring Mechanism and Financial Distress. Procedia Economics and Finance, 28, 190–201.

Giroud, X., & Mueller, H. M. (2011). Corporate Governance, Product Market Competition, and Equity Prices. The Journal of Finance, LXVI(2), 563–600.

Healy, P. M. (1985). The Effect of Bonus Schemes on Accounting Decisions. Journal of Accounting and Economics, 7, 85–107.

Healy, P. M., & Wahlen, J. M. (1999). A review of the earnings management literature and its implications for standard setting. Accounting Horizons, 13(4), 365–383.

Hernawati, R. I., Ghozali, I., Yuyetta, E. N. A., & Prastiwi, A. (2021). The Effect of Income and Earnings Management on Firm Value: Empirical Evidence from Indonesia. Journal of Asian Finance, Economics and Business, 8(4).

Kale, J. R., & Loon, Y. C. (2011). Product Market Power and sSock Market Liquidity. Journal of Financial Markets, 14(2), 376–410.

Kamalina, R. N., & Lestari, R. (2014). Pengaruh Kepemilikan Manajerial Dan Kepemilikan Institusional Terhadap Manajemen Laba. Prosiding Akuntansi, 7(3), 284–287.

Karina, R., & Mahmudah, S. (2021). Analisis Pengaruh Persaingan dan Kekuatan Pasar terhadap Manajemen Laba pada Perusahaan yang Terdaftar di Bursa Efek Indonesia. Conference on Management, Business, Innovation, Education and Social Science, 1(1), 1629–1638.

Kristiani, K. E., Sulindawati, N. L. G. E., & Herawati, N. T. (2014). Pengaruh Mekanisme Corporate Governance dan Struktur Perusahaan Terhadap Manajemen Laba pada Perusahaan Manufaktur yang Terdaftar di BEI. Jurnal Akuntansi Program S1, 2(1).

Laksmana, I., & Yang, Y. wen. (2014). Product Market Competition and Earnings Management: Evidence From Discretionary Accruals and Real Activity Manipulation. Advances in Accounting, Incorporating Advances in International Accounting, 30(2), 1–13.

Lerner, A. P. (1934). The Concept of Monopoly and The Measurement of Monopoly Power. Review of Economic Studies, 1(3), 157–175.

Leuz, C., Nanda, D., & Wysocki, P. D. (2003). Earnings management and investor protection: An international comparison. Journal of Financial Economics, 69(3), 505–527.

Luthan, E., Satria, I., & Ilmainir. (2016). The Effect of Good Corporate Governance Mechanism to Earnings Management before and after IFRS Convergence. Procedia - Social and Behavioral Sciences, 219, 465–471.

Margono, A. S., Tanujaya, Y. I., Hidayat, A. A., & Yuliati, R. (2019). Pengaruh Kontrol Keluarga Terhadap Manajemen Laba. Jurnal Akuntansi Keuangan, 8(2), 239–250.

Matsumoto, D. A. (2002). Management’s Incentives to Avoid Negative Earnings Surprises. Accounting Review, 77(3), 483–514.

Miqdad, M. (2012). Praktik Tata Kelola Perusahaan (Corporate Governance) dan Usefulness Informasi Akuntansi. Jurnal Manajemen Dan Kewirausahaan, 14(2), 147–155.

Oktaviani, H. D. (2019). Pengaruh Ukuran Dewan Direksi, Proporsi Dewan Komisaris Independen, Dan Ukuran Komite Audit Terhadap Praktik Manajemen Laba Pada Perusahaan Farmasi BEI Tahun 2009-2014. 53(9), 1–24.

Organisation For Economic Co-Operation and Development. (2004). OECD Principles Of Corporate Governance. In Organisation For Economic Co-Operation and Development.

Peress, J. (2010). Product Market Competition, Insider Trading, and Stock Market Efficiency. The Journal of Finance, LXV(1), 1–43.

Pindyck, R. S., & Rubinfeld, D. L. (2013). Microeconomics Eigth Edition.

Rahmadewi, I., & Harto, P. (2015). Analisis Pola Manajemen Laba Disekitar Pergantian Direksi, Dewan Komisaris dan Komite Audit. Diponegoro Journal of Accounting, 4(2), 1–12.

Roychowdhury, S. (2006). Earnings management through real activities manipulation. Journal of Accounting and Economics, 42(3), 335–370.

Samuel, A., & Schwartz, J. (2019). Product Market Competition’s Effect on Earnings Management When Audit Quality Is Endogenous: Theory and Evidence. Review of Law and Economics, 1–35.

Schmidt, K. M. (1997). Managerial Incentives and Product Market Competition. Review of Economics Studies, 64, 191–213.

Scott, W. R. (2015). Financial Accounting Theory Seventh Edition.

Sharma, S., Durand, R. M., & Gur-Arie, O. (1981). Identification and Analysis of Moderator Variables. Journal of Marketing Research, 18(3), 291.

Shleifer, A., & Vishny, R. W. (1997). A Survey Of Corporate Governance. The Journal of Finance, LII(2), 737–783.

Siagian, F., Siregar, S. V., & Rahadian, Y. (2013). Corporate governance, reporting quality, and firm value: evidence from Indonesia. Journal of Accounting in Emerging Economies, 3(1).

Skinner, D. J., & Sloan, R. G. (2002). Earnings surprises, growth expectations, and stock returns or don’t let an earnings torpedo sink your portfolio. Review of Accounting Studies, 7(2–3), 289–312.

Stuebs, M., & Sun, L. (2015). Corporate Governance And Social Responsibility. International Journal of Law and Management, 57(1), 38–52.

Sulistiawan, D., & Rudiawarni, F. A. (2019). Industrial Competition and Earnings Quality in Indonesia. International Journal of Economic Policy in Emerging Economies, 12(2), 121–129.

Sumanto, B., & Kiswanto, A. (2014). Pengaruh Kepemilikan Institusional Dan Ukuran Dewan Komisaris Terhadap Manajemen Laba. Accounting Analysis Journal, 3(1), 44–52.

Tadjuddin, Anwar, S. M., & Hadijah, S. (2014). Tinjauan Penerapan Good Corporate Governance pada PT. Asuransi Jiwasraya di Kota Palopo. Jurnal Equilibrium, 4(2), 131–146.

Tang, H. W., & Chen, A. (2020). How do market power and industry competition influence the effect of corporate governance on earnings management? Quarterly Review of Economics and Finance, 78, 212–225.

Tonggano, S., & Christiawan, Y. J. (2017). Pengaruh Kepemilikan Keluarga Terhadap Profitabilitas Perusahaan Pada Perusahaan Menggunakan Firm Size, Firm Age Dan Sales Growth Sebagai Variabel Kontrol. Business Accounting Review, 5(2), 397–408.

Undang-Undang Nomor 5 Tahun 1999 Tentang Larangan Praktek Monopoli dan Persaingan Usaha Tidak Sehat. 5 Maret 1999. (n.d.). Komisi Pengawas Persaingan Usaha.

Usman, & Widagdo, A. K. (2015). Pengaruh Independensi Dan Budaya Ewuh Pakewuh Terhadap Efektivitas Audit Internal Pemerintah. Seminar Nasional Dan The 3rd Call for Syariah Paper, 370–380.

Utari, N. P. L. A., & Sari, M. M. R. (2016). Pengaruh Asimetri Informasi, Kepemilikan Manajerial Dan Kepemilikan Institusional Pada Manajemen Laba. E-Jurnal Akuntansi, 15(3), 303–326.

Verrecchia, R. E. (2001). Essays on disclosure. Journal of Accounting and Economics, 32(1–3), 97–180.

Wang, D. (2006). Founding Family Ownership and Earnings Quality. Journal of Accounting Research, 44(3), 619–656.

Wati, E., & Foo, N. (2021). Analisis Faktor-Faktor Yang Mempengaruhi Manajemen Laba Terhadap Perusahaan-Perusahaan yang Terdaftar di BEI. Conference on Management, Business, Innovation, Education and Social Science, 1(1), 1692–1700.

White, L. J. (2013). Market Power: How Does It Arise? How Is It Measured. The Oxford Handbook in Managerial Economics, 1–50.

Wu, P., Gao, L., & Gu, T. (2015). Business Strategy, Market Competition and Earnings Management. Chinese Management Studies, 9(3), 401–424.


Jurnal Akuntansi dan Bisnis (JAB)
ISSN 1412-0852 (print), 2580-5444 (online)
Published by Accounting Study Program, Faculty of Economics and Business, Universitas Sebelas Maret, Indonesia

Creative Commons License
JAB on is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License

Visitor Statistic