"EVALUATION OF FINANCIAL DISCLOSURE ON THE COMPANY WEBSITE STATE-OWNED ENTERPRISES (SOEs) "

"EVALUATION OF FINANCIAL DISCLOSURE
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.

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.

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.

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.

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.

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 ..

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.

REFERENCES

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Metik Bekti S/14209063/4EA01