Do big shareholders participate in earnings management? Empirical evidence from Indonesia

• Autores: Rustam Hanafi, Abdul Rohman, Dwi Ratmono
• Localización: Contaduría y administración, ISSN 0186-1042, ISSN-e 2448-8410, Vol. 70, Nº. 3, 2025, págs. 1-19
• Idioma: inglés
• Títulos paralelos:
  • Participan los grandes accionistas en la gestión de resultados? Evidencia empírica de Indonesia
• Enlaces
  • Texto completo (pdf)
• Resumen
  • español

    Concentrated ownership is often an issue of long discussion by researchers. They have different perspectives where concentrated shareholders effectively control earnings management. Conversely, concentrated shareholders encourage emerging earnings management. Therefore, this study aims to examine the effect of big shareholders on earnings management in firms listed on the Indonesian stock exchange for 2013-2021. A total of 2,238 firm-year observations were analyzed using multiple and subgroup linear regression. This study proves that big or controlling shareholders positively affect earnings management. This study also finds that big or controlling shareholders participate more in earnings management on loss than non-loss firms. These results indicate that big shareholders do not want their big investments lost. If this happens, with their power control, they pressure managers to manage earnings. These findings should be a warning for investors, regulators, and other stakeholders to give more attention to concentrated firms in terms of earnings management

  • English

    La propiedad concentrada es a menudo un tema de larga discusión entre los investigadores. Tienen diferentes perspectivas en las que los accionistas concentrados controlan efectivamente la gestión de las ganancias. Por el contrario, los accionistas concentrados alientan la gestión de ganancias emergentes. Por lo tanto, este estudio tiene como objetivo examinar el efecto de los grandes accionistas en la gestión de ganancias de las empresas que cotizan en la bolsa de valores de Indonesia durante el período 2013-2021. Se analizaron un total de 2238 observaciones por año empresa mediante regresión lineal múltiple y de subgrupos. Este estudio demuestra que los accionistas grandes o mayoritarios afectan positivamente la gestión de ganancias. Este estudio también encuentra que los accionistas grandes o mayoritarios participan más en la gestión de ganancias en caso de pérdidas que las empresas que no presentan pérdidas. Estos resultados indican que los grandes accionistas no quieren perder sus grandes inversiones. Si esto sucede, con su control de poder, presionan a los gerentes para que administren las ganancias. Estos hallazgos deberían ser una advertencia para que los inversores, reguladores y otras partes interesadas presten más atención a las empresas concentradas en términos de gestión de ganancias

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