EXPLORING THE PRACTICE OF EARNING MANAGEMENT ON FIRM VALUE: EVIDENCE OF COSMETIC SUB SECTOR AT INDONESIAN STOCK EXCHANGE

The aim of this study is to explore the practice of earning management and its effect on firm value. Theoretically, the practice of earning management tended from managers motivation. Thus, it is interesting to see since the purpose of every company is to maximize its firm value, which affects the firm value. To make the results more robust, the research used samples such as PER, Tobin�s Q, Total Accrual, Debt Equity Ratio, Size, and Growth of Indonesian Consumer Sector Companies in year 2016 listed at Indonesian Stock Exchange and conduct the research into two models using PER and Tobin�s Q as firm value for each model. The results of this study provide evidence to support the role of earning management practices towards firm value especially Tobins�Q where the results are positive. As part of managerial discretion, earning management is generally perceived in a negative way since it often linked with managerial opportunism. The investor may also interested in this matter for the accounting scandals that may arise. Therefore, it is advisable for the company to perceive well in their discretion of the practice of earning management in their attempt to change the variation of the value of their firm.

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