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ABSTRAK

Penelitian ini bertujuan untuk meneliti pengaruh krisis keuangan global 2008 terhadap tingkat disiplin pasar di ASEAN-6, yang terdiri dari Indonesia, Malaysia, Singapura, Thailand, Filipina dan Vietnam. Selain itu, peneliti juga melakukan penelitian tambahan khusus untuk Indonesia. Variabel yang digunakan untuk menjelaskan struktur modal adalah pertumbuhan deposit bank, sementara tingkat risiko bank dijelaskan oleh ROA, rasio kredit terhadap aset dan rasio modal terhadap aset. Penelitian ini menggunakan sampel yang meliputi sekitar 125 bank di ASEAN-6 dan Indonesia pada periode 2004-2013. Dengan menggunakan first-difference GMM, secara umum peneliti menemukan fakta bahwa krisis keuangan global 2008 memperlemah tingkat disiplin pasar di ASEAN-6 dan Indonesia.

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ABSTRACT

This research aims to examine the impact of the 2008 global financial crisis on market discipline in ASEAN-6, consist of Indonesia, Malaysia, Singapore, Philippine, Thailand and Vietnam. Moreover, the author also did additional research with data from Indonesia. The determinants that represent market discipline is banks’ deposit growth while the banks’ risks are represented by ROA, loans to total assets ratio and equity to total asset ratio. This research uses sample from around 125 banks in ASEAN-6 and Indonesia within the period of 2004-2013. By using first difference GMM, generally, the author found a fact that on average market discipline weakens after the 2008 global financial crisis in ASEAN-6 and Indonesia.

Abstrak :
The banking crises over the last two decades around the world has renewed the interest in market disipline in banking systems. This interest is not merely academic but it also apparent in recent policy initiatives such as the latest capital proposal by the Basel Commitee on Banking Supervision . The new basel capital accord has 3 pillars. Pillars 3 is disclosure requirement to enhance market discipline. Market discipline has the potential to reinforce pillar 1 ( minimum capital standar) and 2 pillars (supervisory review process) and promote safety and soundness in banks and financial systems. The first objective of this paper is to explain bank regulatory and the important of market discipline to complement bank regulatory. The second objective to explain the framework of market discipline theory and ask some issue : what is market discipline , why the call for market discipline , how market discipline relates to agency conflict in finance theory and how is the framework of market discipline in banking. The third objective is to review some empirical research in market discipline.

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ABSTRAK
Penelitian ini dilakukan dengan tujuan untuk menguji pengaruh konsentrasi kepemilikan, Pemegang saham pengendali dan Corporate Governance terhadap Disiplin Pasar di perbankan Indonesia. Sampel penelitian adalah 101 bank komersial konvensional di Indonesia selama tahun 2013-2016. Dengan menggunakan model panel data dinamis, penelitian ini menemukan bahwa bank dengan pengendali asing dan Corporate Governance akan berpengaruh negatif terhadap Disiplin Pasar. Sebalikya, penelitian ini menemukan bahwa bank dengan pengendali pemerintah dan konsentrasi kepemilikan berpengaruh positif terhadap praktik Disiplin Pasar. Penelitian ini membuktikan bahwa struktur kepemilikan dan Corporate Governance berdampak terhadap Disiplin Pasar di perbankan Indonesia

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ABSTRACT
This study was conducted with the aim to examine the effect of concentration of ownership, controlling shareholders and Corporate Governance on Market Discipline in Indonesian banking. The research sample is 101 conventional commercial banks in Indonesia during 2013 2016. Using a dynamic data panel model, this study found that banks with foreign control and Corporate Governance negatively affect Market Discipline. In contrast, this study found that banks with government controls and concentration have positive effect on Market Discipline. This study proves that ownership structure and Corporate Governance have an impact on Market Discipline in Indonesian banking.

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ABSTRAK
Penelitian ini bertujuan meneliti dampak penerapan IFRS instrumen keuangan terhadap kualitas laporan keuangan bank-bank di Indonesia. Kualitas laporan keuangan ditinjau dari dimensi kualitas informasi akuntansi dan pengungkapan instrumen keuangan. Dampak penerapan IFRS instrumen keuangan ditinjau dari kegunaan informasi akuntansi instrumen keuangan terhadap efektifitas market discipline.  Penelitian ini memberikan kontribusi literatur tentang dampak penerapan standar akuntansi instrumen keuangan di industri keuangan dalam konteks negara berkembang.  Sampel yang digunakan adalah 64 bank  yang terdaftar dan  tidak terdaftar di Bursa Efek Indonesia (BEI)  dengan periode penelitian 2007-2013. Hasil penelitian menunjukan terjadi penurunan sebagian dimensi kualitas relevansi informasi akuntansi  setelah penerapan IFRS instrumen keuangan. Namun di sisi lain terjadi peningkatan dimensi kualitas informasi akuntansi pada dimensi reliability dan relevansi risiko (pasar) laba komprehensif.  Penerapan IFRS instrumen keuangan terbukti menurunkan manajemen laba melalui loan loss provision namun demikian penurunan manajemen laba ini tidak diikuti oleh peningkatan kemampuan prediktabilitas loan loss provision. Hasil pengujian dengan moderasi mekanisme monitoring menunjukan penerapan IFRS instrumen keuangan terbukti mengurangi efek negatif dari kepemilikan terkonsentrasi terhadap sebagian besar dimensi kualitas informasi akuntansi. Hasil pengujian juga menunjukan pengungkapan instrumen keuangan bedasarkan IFRS berpengaruh positif terhadap kualitas informasi loan loss provision dalam laporan keuangan bank. Hasil pengujian dampak penerapan IFSR instrumen keuangan dari perspektif stakeholder utama bank (deposan/kreditor) menunjukan penerapan IFRS instrumen keuangan terbukti berpengaruh positif terhadap market discipline di perbankan di Indonesia ex ante dan expost.  Penerapan IFRS instrumen keuangan meningkatkan transparansi risiko bank-bank di Indonesia sehingga meningkatkan kemampuan stakeholder bank yaitu deposan, creditor, dan regulator dalam memonitor tingkat risiko yang diambil bank. Bank menjadi lebih hati-hati dalam pengambilan risiko dan menjaga tingkat capital buffer nya pada tingkat yang lebih memadai dibandingkan sebelum penerapan IFRS instrumen keuangan. Kualitas loan loss provision dan pengungkapan instrumen keuangan terbukti meningkatkan efektifitas market discipline di perbankan Indonesia. Hal ini menunjukan keandalan (reliability) informasi akuntansi dan pengungkapan instrumen keuangan berdasarkan IFRS berperan dalam berjalannya market discipline di perbankan di Indonesia.

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ABSTRACT
This paper studies the impact of IFRS for financial instruments implementation on the quality of financial statements of banks in Indonesia. The impact of IFRS for financial instruments is viewed from the usefulness of financial instrument accounting information to the effectiveness of market discipline in Indonesian banking industry. This study contributes the literature on the impact of applying financial instrument accounting standards in the financial industry in the context of developing countries. This study used a sample of 64 banks from 2007-2013. The results of the study showed a decrease in the quality of accounting information on some dimension of relevance after the application of IFRS financial instruments. On the other hand, there is an increase in the quality of accounting information on the dimensions of reliability and risk relevance of comprehensive profits (market risk). IFRS for financial instruments implementation has proven to reduce earnings management through loan loss provision. However, the decline in earnings management is not followed by an increase in predictability of loan loss provision.  The implementation of IFRS for financial instruments has proven to reduce the negative effects of concentrated ownership on most dimensions of accounting information quality. Disclosure of financial instruments has a positive effect on the quality of loan loss provision information. The result also shows the implementation of IFRS for financial instrument positively effects market discipline in Indonesian banking, ex ante and ex post. The implementation of IFRS for financial instruments increases the risk transparency of banks in Indonesia, thereby increasing the capability of bank stakeholders, namely depositors, creditors, and regulators in monitoring the level of risk taken by banks. Banks are becoming more cautious in taking risks and maintaining their capital buffer levels at a more adequate level than before the implementation of IFRS for financial instruments. The quality of loan loss provision information and the disclosure of financial instruments proved to increase the effectiveness of market discipline in Indonesian banking. This results shows the reliability of accounting information and disclosure of financial instruments based on IFRS play a role in the effectiveness of market discipline in Indonesia banking industry

Abstrak :
[ABSTRAKbr Penelitian ini menganalisis pengaruh tipe diskresi akuntansi yang dilakukan manajemen bank atas LLP terhadap kedisiplinan risiko perbankan di ASEAN. Pada pendekatan ex-ante market discipline, bank akan disiplin terhadap risiko dengan menyesuaikan leverage. Risiko sebenarnya dari aset pinjaman adalah nilai NPL, sehingga setelah dianalisis melalui pengujian statistik terhadap sampel bank yang terdaftar di pasar modal di ASEAN, penulis menyimpulkan bahwa tipe forward-NPL akan menyebabkan kedisiplinan risiko bank meningkat. Akan tetapi, perilaku manajemen yang menggunakan tujuan income smoothing dalam menentukan nilai LLP, menyebabkan informasi risiko yang disajikan bank tidak relevan. Oleh karena itu, tipe smoothing menyebabkan kedisiplinan risiko bank menurun.;This research will analyze the effect of accounting discretion type that is done by the management on LLP to the discipline of bank risk-taking in ASEAN. Using ex-ante approach, a bank will discipline itself in the face of an increase of risk by decreasing the leverage. . The real risk level of a loan is actually shown on the amount of future non-performing loan (NPL), so, after analyzing the sample of banks listing in ASEAN countries’ stock market, the writer concluded that the forward-NPL type will cause the discipine of bank risk-taking better. . In contrast, the untrue information that prepared by the management will deteriorate the effectiveness of market discipline, if they use income smoothing to book the amount of LLP, so that the smoothing type will cause the discipline of bank risktaking worse., This research will analyze the effect of accounting discretion type that is done by the management on LLP to the discipline of bank risk-taking in ASEAN. Using ex-ante approach, a bank will discipline itself in the face of an increase of risk by decreasing the leverage. . The real risk level of a loan is actually shown on the amount of future non-performing loan (NPL), so, after analyzing the sample of banks listing in ASEAN countries’ stock market, the writer concluded that the forward-NPL type will cause the discipine of bank risk-taking better. . In contrast, the untrue information that prepared by the management will deteriorate the effectiveness of market discipline, if they use income smoothing to book the amount of LLP, so that the smoothing type will cause the discipline of bank risktaking worse.]