"EVALUATION OF FINANCIAL
DISCLOSURE
ON THE COMPANY WEBSITE STATE-OWNED ENTERPRISES (SOEs) "
ON THE COMPANY WEBSITE STATE-OWNED ENTERPRISES (SOEs) "
Background
The
development of information
communication technology is growing rapidly in Indonesia. Judging
from the e-government rankings
in the world, Indonesia
was ranked 97 inferior
to the neighboring countries to find the
disclosure of information held this
research. This study aims to find, analyze, and
evaluate public disclosure using the laws of
public disclosure of Article 14 on
state-owned enterprises.
Technological
developments in Indonesia has been highly developed rapidly from year
to year. One is the advances in information technology to benefit
as much as possible to provide information to the public. Surely in a world
that has been developed and this global,
technological progress is needed and used in every field. One area affected
is the information technology touch government
services to the public. This
means that in this era of information technology, information has been linked
by a fully
integrated gateway.Transparency
means openness (opennsess)
government in providing information
related to the activities of the management of public resources to the parties -
parties that require
information (Mardiasmo: 2004). Inevitable that
the community or the public always
wants to know the
information developed at this time. Disclosure of such information
can be just
the financial statements of the company,
the introduction of the company, the activities of the company even legal
cases ever involving
the company itself.
Right
of citizens to public information
is guaranteed by the constitution, which is listed
in Article 28F of which reads: "Everyone has the
right to communicate and obtain information
to develop personal
and social environment, and the right to seek, obtain, possess, keep, process , and
convey information by using all available channels. "Advancement of
information and communication technology. The rapid
and widespread utilization
potential, opportunities for accessing, managing and utilization of large volumes
of information quickly and accurately.
In the world, the United Nations defines e-government as the use of information and communication technology (ICT) and its application by the government to provide information and public services to the community. The goal of e-government is to provide efficient management of government information to all citizens, provision of public services better, and empower people through access to information and public participation in decision-making.
In the world, the United Nations defines e-government as the use of information and communication technology (ICT) and its application by the government to provide information and public services to the community. The goal of e-government is to provide efficient management of government information to all citizens, provision of public services better, and empower people through access to information and public participation in decision-making.
Public
disclosure of financial information can be. One source or provider of such
information is a public entity or public sector, in this case the state.
Currently there are 165 state-owned enterprises in Indonesia. State-owned
enterprises (SOEs) is an interesting one to watch because it always has a
negative impression in the community about the performance of companies
involved in various sectors perokonomian. What's more is the state-owned
companies should comply with government regulations in Indonesia. Here lah,
disclosure of financial information to the public is really important to
Indonesia's progress both in terms of technology, information, and economic.
Especially the openness and transparency of financial information on the sector
or public agency regulated in the Law of the Republic of Indonesia Number 14
Year 2008 regarding public disclosure. In Article 14, the public information
that must be provided by the State Owned Enterprises (BUMN), Regional-Owned
Enterprises (BUMD) and or other business entity.
Problem
SOEs
as one of the economic backbone is expected to contribute positively to the
government in the form of dividends and taxes.
The Government is very concerned over the health of SOEs. In the early days of independence, the role of state / government
in the national economy is quite important. At the beginning of an era of development, state / government, among others, entered into sectors that
require considerable funding,
not private interest
and is pioneering.
Reliable corporate sector in building the national economy needed to create jobs,
produce goods and
services for domestic
and export markets, and provide optimal services to consumers. Number of state-owned enterprises reached 165 and scattered in
almost every sector of state-owned
businesses not only
has the potential to make a significant contribution
to society and the
state in general, but also has great
potential to establish a mutually
beneficial synergy amongst
SOEs that will
provide acceleration in achievement performance
of the company. However, in reality many companies
that incurred losses due to unprofessional
management, not based
on the economic principle of
the company, and not
transparent. PURP
Purpose
According Mardiasmo (2004: 30), transparency
means openness (opennsess) government in providing information related to the activities
of the management of public resources to the parties - parties who need the
information. Government is obliged to provide financial information and other
information that will be used for decision making by the parties - parties
concerned. E-government as the use of information and communication technology
(ICT) and its application by the government to menyediakaan information and
public services to the community. Since 2003 the United Nations developed the
index of the development of e-government (e-government development index,
abbreviated EGDI) as the basis for ranking the countries that are members of
the United Nations. EGDI is a composite indicator that measures the willingness
and capacity to use ICT administration to menyediakaan provide public services.
EGDI for the 2012 edition was measured by three sub-indexes, namely online
service index, telecommunictaion index and human capital index.
Advantage
This
assessment
is expected to
provide
benefits
to the community
and
the
company
that the
importance of
the financial statements
in assessing
the performance of
a company.
And
provide information regarding
the
company's
corporate
status
differences in
public
and
not
to the
public
disclosure
of financial
information.
Discussion
Research
Variables
Variables in this study consisted of the dependent variable (Y) and the independent variable (X). a.Dependent variable (Y).
The dependent variable in this study is the popularity of the website (Y). In the study site's popularity is measured by using the Alexa Traffic Rank.
Variables in this study consisted of the dependent variable (Y) and the independent variable (X). a.Dependent variable (Y).
The dependent variable in this study is the popularity of the website (Y). In the study site's popularity is measured by using the Alexa Traffic Rank.
b. Independent variable (X).
The independent variable in this study is:
1. Financial disclosure index variable (X1).
Web sites assessed in terms of four different features like the available information, public service, transparency, and feedback from the citizens or the government (Lollar: 2006). Disclosure of financial information is a openness index a website will be owned and adapted information from disclosure laws.
The independent variable in this study is:
1. Financial disclosure index variable (X1).
Web sites assessed in terms of four different features like the available information, public service, transparency, and feedback from the citizens or the government (Lollar: 2006). Disclosure of financial information is a openness index a website will be owned and adapted information from disclosure laws.
2.
Variable wealth of information (X2).
The wealth of information is owned and distributed information to be visible to the public and can be accessed via the website. The wealth of information using search results in google search engine, regardless of depth, authenticity, and relevant information on every page of the website (Silfianti W & Ruddy J: 2011). These variables are viewed and assessed through the google search engine.
3. Wealth variable document (X3).
Digital collections here can vary, may include electronic books, electronic journals, online databases, electronic statistics, and so forth (Tarto: 2008). The digital collection is a treasure of documents in the form of Microsoft Word files (doc), Microsoft PowerPoint (PPT), and Portable Document Format (PDF) is seen using the google search engine that can be uploaded (downloaded) by the public diwebsite.
The wealth of information is owned and distributed information to be visible to the public and can be accessed via the website. The wealth of information using search results in google search engine, regardless of depth, authenticity, and relevant information on every page of the website (Silfianti W & Ruddy J: 2011). These variables are viewed and assessed through the google search engine.
3. Wealth variable document (X3).
Digital collections here can vary, may include electronic books, electronic journals, online databases, electronic statistics, and so forth (Tarto: 2008). The digital collection is a treasure of documents in the form of Microsoft Word files (doc), Microsoft PowerPoint (PPT), and Portable Document Format (PDF) is seen using the google search engine that can be uploaded (downloaded) by the public diwebsite.
Disclosure of financial
information on the use of state-owned enterprises KIP laws described in Article
14 of the financial disclosure index below:
Assessment
based on the highest order of 1, PT. Bank
Mandiri (tbk) has
total valuation of public
disclosure using the laws public
disclosure by section 14 is between 90% -100% or more precisely
94%. For the average assessment
of public disclosure is between 70-80%. with
as can be seen, from a sample of 38 state-owned enterprises as many as 24 companies have
average ratings above 60% could be categorized as good and very good. While there are 5
state-owned companies from 38 samples that still had an average below 40%, namely PT.
Merpati Nusantara Airlines, Perjan RRI, PT. Freport Indonesia, PT. Barata Indonesia, and
PT. Boma Bisma Indra. To see clearly and detailed disclosure index finance. For more financial information is presented because it is a life of financial the company itself and can be seen clearly the performance and financial health of the company itself. That way, the community and investors can judge and no one steps to invest in the company. financial component
discussed in point 3. Item 3a is the company balance sheet information (balance sheet)
which have been audited as many as 23 companies have provided that information
complete and detailed or rated with 4 points, one of which is PT. Bank Mandiri (tbk) and
State electricity company to the public yet. While 5 companies get 3 points, ie there are relatively detailed but not accompanied with complete documents, 4 companies get 2 points are found but only some brief information, and 6 companies get points 1 found that there was no appropriate keywords. Here describe the property (assets) and liabilities (liability) as well as the company looks very clearly the financial health of the company in the form of balance sheet. This is consideration of investors to invest. Item 3b is profit / loss (statement of income) which has been audited by 24 The company has been providing complete information and detail or assessed with 4 points, one of which is PT. Bank Mandiri (tbk) and the National Electricity Company for the public yet. While 4 companies get 3 points but that there is a relatively detailed not accompanied by the full document, firms earn 4 points 2 is found but only some brief information, and companies that earn 6 points 1 no keywords were found suitable. Similarly, the grain 3a, the company SOEs that are more open and informed public finances clearly and than most companies have not publicly. This item describes the profit / loss that the company achieved, which is a major consideration for investors invest their shares. Item 3c the cash flow statement (statement of cash flow), audited 22 companies already provide such information in a complete and detailed or rated with 4 points, one of which is PT. Bank Mandiri (tbk) and the National Electricity Company to the public yet. While 3 companies get 3 points there is relatively detailed but not accompanied with complete documents, 5 companies earn 2 points are found but only some brief information, and companies that earn 8 points 1 found that there was no appropriate keywords. Similarly, items 3a and 3b grain, state-owned companies that have been more open and informed public finances clearly and latest corporate than public yet.
3d item that records the financial statements (notes of financial statements) which have been audited as many as 24 companies have provided that information is complete and detailed or rated with 4 points, one of which is PT. Bank Mandiri (tbk) and the National Electricity Company to the public yet. While 3 companies get 3 points there is relatively detailed but not accompanied with complete documents, 6 companies earn 2 points are found but only some brief information, and companies that earn 5 points 1 found that there was no appropriate keyword.
as can be seen, from a sample of 38 state-owned enterprises as many as 24 companies have
average ratings above 60% could be categorized as good and very good. While there are 5
state-owned companies from 38 samples that still had an average below 40%, namely PT.
Merpati Nusantara Airlines, Perjan RRI, PT. Freport Indonesia, PT. Barata Indonesia, and
PT. Boma Bisma Indra. To see clearly and detailed disclosure index finance. For more financial information is presented because it is a life of financial the company itself and can be seen clearly the performance and financial health of the company itself. That way, the community and investors can judge and no one steps to invest in the company. financial component
discussed in point 3. Item 3a is the company balance sheet information (balance sheet)
which have been audited as many as 23 companies have provided that information
complete and detailed or rated with 4 points, one of which is PT. Bank Mandiri (tbk) and
State electricity company to the public yet. While 5 companies get 3 points, ie there are relatively detailed but not accompanied with complete documents, 4 companies get 2 points are found but only some brief information, and 6 companies get points 1 found that there was no appropriate keywords. Here describe the property (assets) and liabilities (liability) as well as the company looks very clearly the financial health of the company in the form of balance sheet. This is consideration of investors to invest. Item 3b is profit / loss (statement of income) which has been audited by 24 The company has been providing complete information and detail or assessed with 4 points, one of which is PT. Bank Mandiri (tbk) and the National Electricity Company for the public yet. While 4 companies get 3 points but that there is a relatively detailed not accompanied by the full document, firms earn 4 points 2 is found but only some brief information, and companies that earn 6 points 1 no keywords were found suitable. Similarly, the grain 3a, the company SOEs that are more open and informed public finances clearly and than most companies have not publicly. This item describes the profit / loss that the company achieved, which is a major consideration for investors invest their shares. Item 3c the cash flow statement (statement of cash flow), audited 22 companies already provide such information in a complete and detailed or rated with 4 points, one of which is PT. Bank Mandiri (tbk) and the National Electricity Company to the public yet. While 3 companies get 3 points there is relatively detailed but not accompanied with complete documents, 5 companies earn 2 points are found but only some brief information, and companies that earn 8 points 1 found that there was no appropriate keywords. Similarly, items 3a and 3b grain, state-owned companies that have been more open and informed public finances clearly and latest corporate than public yet.
3d item that records the financial statements (notes of financial statements) which have been audited as many as 24 companies have provided that information is complete and detailed or rated with 4 points, one of which is PT. Bank Mandiri (tbk) and the National Electricity Company to the public yet. While 3 companies get 3 points there is relatively detailed but not accompanied with complete documents, 6 companies earn 2 points are found but only some brief information, and companies that earn 5 points 1 found that there was no appropriate keyword.
Assessment
according to financial disclosure laws uandang public disclosure section 14 by
using 14 grain is very open to the public. Variable popularity of the website
has an inverse relationship or not according to the disclosure index, a wealth
of information, and a wealth of documents. According to Welch, internet usage
shows a positive relationship with satisfaction level of transparency, and
transparency, together with interactivity satisfaction is positively associated
with public confidence in government. Public disclosure index variable, has a
wealth of information and the size of the partial influence on the popularity
of the website with the negative direction of the relationship. This shows due
to financial disclosures can influence decision-making by financial services
user or investor (Clements and Wolfe, 2000 in Kelton, 2006).
The use of the Internet
with the characteristic sequence associates with the behavior of the
disclosure, the disclosure index has been constructed and is regarded as an
important research tool (Celik et al, 2006). With internet usage shows a
positive relationship with satisfaction level of transparency, and
transparency, together with interactivity satisfaction is positively related to
public trust in government. Factors such as institutional ownership, firm size,
and trading volume is strong benchmark quality investor relations disclosure
thus given little additional explanatory power of other possible explanations
for the relationship between the results and the quality of disclosure and
information asymmetry (Brown & Hillegeist, 2007). Shareholder confidence in
the management of the company can be increased if the financial information and
other important information transparent (Muntoro, 2006). If the
made public so that investor confidence and the user will
be interested to invest their funds in the company. This study is also
consistent with Silfianti & Ruddy J (2011). They have the idea that the
popularity of the site does not depend on the wealth of information and a
number of web features. But the site's popularity does not depend on the wealth
of information and a number of web features. The amount of information and
number of features of the service has not been able to increase the popularity
of websites in the Indonesian province. Index variable perennial, technology
index and user support Index not affected part to the popularity of the site.
This is causing the amount of information, the number of applications and the
number of additional features have not been able to increase the popularity of
the website (Silfianti and Suhadril, 2011). This study is consistent with
Silfianti and Suhadril (2011). They have the idea that the popularity of the
site does not depend on the wealth of information, the amount of information
and number of web features. The amount of information and number of features of
the service has not been able to increase the popularity of websites in the
Indonesian province.
Uji Korelasi Spearman
Having seen the results of processing
with SPSS, a significant value must be> 0.05 for results
Ho :
accepted and <0 .05="" for="" ho="" of="" rejected.="" results="" span="" the="">
To find z can count see corerelation
coefficient. Spearman correlation test output is the result of test of the
hypothesis:
- Ho :
The two variables do not have a relationship with one another.
- Hi :
Both variables no significant relationship with one another.
Spearman correlation to test the
relationship with the web site's popularity index disclosure of information, a
significant value of 0.003 thus Ho is rejected, meaning no significant relationship
between the popularity of a web site with an index of openness financial
information. Then the Spearman correlation coefficient of -0.471 or a value Negative
means that a strong relationship is not direct or inverse relationship. Relationship
reversed in question is the higher the lower the web site's popularity index disclosure
of financial information, and vice versa. For a wealth of information and
wealth documents to the popularity of the website. The result is the same as
the index of openness Financial information that is there is a strong
relationship is not direct but inverse relationship.
Uji Mann-Whitney
Mann-Whitney test results are the result
for the test of the hypothesis:
-
Ho : Public company status to the
public disclosure did not differ with the company status has not been public.
Hi :
Public company status to the different public disclosure public company status
yet.
Basis for a decision by looking at the
probability, provided that:
- Probability> 0.05 then Ho is
accepted.
- Probability of <0 .05="" ho="" is="" rejected.="" span="" then="">
From the above table, it can be
explained that a significant derived from Mann-Whitney test
was 0,000, a significant value or
probability of <0 .05="" ho="" is="" means="" rejected.="" so="" span="" that="" which="">
public company to a different world
ranking with the company status has not been public.
This is because, a public company whose
shares are sold to the public requires especially public companies to open
their financial information than companies public yet.
Results
Comparison of Previous Research
Assessment according to
financial disclosure laws uandang openness public information section 14 by
using 14 grain is very open to the public. Variable popularity of the website
has an inverse relationship with the dependent or not disclosure index, a
wealth of information, and a wealth of documents. According to Welch, internet
usage shows a positive relationship with satisfaction level of transparency, and
transparency, together with interactivity satisfaction is positively associated
with public confidence in government. Public disclosure index variable, wealth
of information and has the effect of partially measure the popularity of website
with a negative relationship direction. This shows due to disclosure financial
information may influence decision-making by financial services user or
investor (Clements and Wolfe, 2000 in Kelton, 2006).
The use of the Internet
with the characteristic sequence associates with behavior
disclosure, disclosure index has been
constructed and is regarded as a research tool important (Celik et al, 2006).
With internet usage shows a positive relationship satisfaction with the level
of transparency, and transparency, together with the satisfaction interactivity
is positively related to public trust in government. Factors such as
institutional ownership, firm size, and trading volume is a powerful benchmark
that disclosure quality investor relations given little additional explanatory
power possible explanation for the relationship results between disclosure
quality and information asymmetry and (Brown & Hillegeist, 2007). Shareholder
confidence in the management of the company can be increased if financial
information and other important information transparent (Muntoro, 2006). If the
made public so that investor confidence and the user will be interested in they
invested in the company. This study is also consistent with Silfianti &
Ruddy J (2011). they have the idea that the popularity of the site does not
depend on the wealth of information and a number of features web. But the
site's popularity does not depend on the wealth of information and a number of
features web. The amount of information and number of features of the service
has not been able to increase the popularity of
provinces in Indonesia website. Index variable
perennial, technology index and index users
support has not been affected in part to
the popularity of the site. This is causing
amount of information, the number of
applications and the number of additional features have not been able to
increase website popularity (Silfianti and Suhadril, 2011). This study is
consistent with Silfianti and Suhadril (2011). They have no idea that the
popularity of the site depends on the wealth of information, the amount of
information and number of web features. The amount of information and number of
service features have not been able to increase the popularity of websites in
the Indonesian province. This study on the effects of financial index internet
powered by Lestari and Chariri (2006), Altin (2007), and Alimilia (2008).
Conclusion
Based on the analysis
of data the following conclusions can be drawn is :
a. Disclosure of financial information by using the law of public disclosure in 2008 of article 14, which has the highest assessed valuation based index is PT. Bank Mandiri (tbk) with a score of 0.9444 or if judged by points, the 68 points of the total 72 points ..
a. Disclosure of financial information by using the law of public disclosure in 2008 of article 14, which has the highest assessed valuation based index is PT. Bank Mandiri (tbk) with a score of 0.9444 or if judged by points, the 68 points of the total 72 points ..
b. Based
on the test results between the popularity of a web site to the index of
financial disclosure, a wealth of information, and a wealth of documents and
there is a close relationship with a significant other with a significant value
of 0.003, 0.000, and 0.000, and the correlation coefficient is negative, it
means that each variable does not have dependence.
c. There
is a difference in the status of state-owned companies are public companies and
companies that have not publicly. Judging from the significant obtained from
the Mann-Whitney test was 0.000. So a public company to a different world
ranking with the company status has not been public. This is because the public
company is a company that should and must provide information to the public
remember public company shares are sold to the public than a public company
yet.
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