DAMPAK PENYAATAN DAN NILAI WAJAR OPSI PADA PENGARUH MAGNITUDA KOMPENSASI PROGRAM OPSI SAHAM KARYAWAN TERHADAP PENGELOLAAN LABA




Simposium Nasiona Akuntansi 9 Padang
Padang, 23-26 Agustus 2006

DAMPAK PENYAATAN DAN NILAI WAJAR OPSI PADA PENGARUH MAGNITUDA KOMPENSASI PROGRAM OPSI SAHAM KARYAWAN TERHADAP PENGELOLAAN LABA

Nur Fadjrih Asyik

ABSTRACT

The purpose of this study is to investigate whether management who find stock-based compensation which relatively big proportion to manage earnings information prior to grant date and after grant date. While, this study also investigate whether management manage factors of timing and option pricing model. This paper contributes to that stream of accounting research by identifying several factors to manage earnings. While, this study also identify the difference behavior of every step stock option offering.

The study finds that executives have ability to manage information around option grant date to find benefit stock price decreases before the grant date and by stock price increases after the grant date. The effect is stronger when executives release earnings before option grant date for period prior to ESOP. While, for period after ESOP, the effect is stronger with manage fair value factors are stock price volatility, but not support for the risk-free interest rate and dividend yield. Finally, type of earnings management behavior both income decreasing and income increasing effect option intrinsic value, and relatively big stock option proportion find bigger gain. The general conclusion is that magnitude of ESOP compensation effect earnings management behavior with supported by several conditional factors.

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