1 |
Chen, Y., Chen, C. H., & Chen, W. (2009). The impact of related party transactions on the operational performance of listed companies in China. Journal of Economic Policy Reform, 12(4), 285-297. https://doi.org/10.1080/17487870903314575
DOI
|
2 |
Claessens, S., Djankov, S., & Lang, L. H. (2000). The separation of ownership and control in East Asian corporations. Journal of Financial Economics, 58(1-2), 81-112. https://doi.org/10.2139/ssrn.206448
DOI
|
3 |
Francis, B., Hasan, I., & Li, L. (2016). Abnormal real operations, real earnings management, and subsequent crashes in stock prices. Review of Quantitative Finance and Accounting, 46(2), 217-260. https://doi.org/10.1007/s11156-014-0468-y
DOI
|
4 |
Habib, A., Hasan, M. M., & Jiang, H. (2018). Stock price crash risk: a review of the empirical literature. Accounting & Finance, 58, 211-251. https://doi.org/10.1111/acfi.12278
DOI
|
5 |
Habib, A., Muhammadi, A. H., & Jiang, H. (2017a). Political connections and related party transactions: Evidence from Indonesia. The International Journal of Accounting, 52(1), 45-63. https://doi.org/10.1016/j.intacc.2017.01.004
DOI
|
6 |
Hendratama, T. D., & Barokah, Z. (2020). Related party transactions and firm value: The moderating role of corporate social responsibility reporting. China Journal of Accounting Research, 13(2), 223-236. https://doi.org/10.1016/j.cjar.2020.04.002
DOI
|
7 |
Hong, H. A., Kim, J. b., & Welker, M. (2017). Divergence of cash flow and voting rights, opacity, and stock price crash risk: International evidence. Journal of Accounting Research, 55(5), 1167-1212. https://doi.org/10.1111/1475-679X.12185
DOI
|
8 |
Hutton, A. P., Marcus, A. J., & Tehranian, H. (2009). Opaque financial reports, R2, and crash risk. Journal of Financial Economics, 94(1), 67-86. https://doi.org/10.1016/j.jfineco.2008.10.003
DOI
|
9 |
Jin, L., & Myers, S. C. (2006). R2 around the world: New theory and new tests. Journal of Financial Economics, 79(2), 257-292. https://doi.org/10.1016/j.jfineco.2004.11.003
DOI
|
10 |
Johnson, S., La Porta, R., Lopez-de-Silanes, F., & Shleifer, A. (2000). Tunnelling. American Economic Review, 90(2), 22-27. https://doi.org/10.1257/aer.90.2.22
DOI
|
11 |
Khurana, I. K., Pereira, R., & Zhang, E. (2018). Is real earnings smoothing harmful? Evidence from firm-specific stock price crash risk. Contemporary Accounting Research, 35(1), 558-587. https://doi.org/10.1111/1911-3846.12353
DOI
|
12 |
Kim, D.-W., Kim, B.-G., & Youn, M.-K. (2017). Family Ownership and Firm Value: Perspective to Related-party Transaction and Wealth Transfer. Journal of Distribution Science, 15(4), 5-13. http://dx.doi.org/10.15722/jds.15.4.201704.5
DOI
|
13 |
Krishnan, G., & Peytcheva, M. (2019). The risk of fraud in family firms: Assessments of external auditors. Journal of Business Ethics, 157(1), 261-278. https://doi.org/10.1007/s10551-017-3687-z
DOI
|
14 |
Nekhili, M., & Cherif, M. (2011). Related parties transactions and firm's market value: The French case. Review of Accounting and Finance. https://doi.org/10.1108/14757701111155806
DOI
|
15 |
Wong, R. M., Kim, J. B., & Lo, A. W. (2015). Are related-party sales value-adding or value-destroying? Evidence from China. Journal of International Financial Management & Accounting, 26(1), 1-38. https://doi.org/10.1111/jifm.12023
DOI
|
16 |
Park, S. Y., & Song, Y. (2018). The effect of ownership structure on future stock price crash risk: Korean evidence. Journal of Applied Business Research (JABR), 34(2), 355-368. https://doi.org/10.19030/jabr.v34i2.10136
DOI
|
17 |
Leuz, C., Nanda, D., & Wysocki, P. D. (2003). Earnings management and investor protection: an international comparison. Journal of Financial Economics, 69(3), 505-527. https://doi.org/10.1016/S0304-405X(03)00121-1
DOI
|
18 |
Habib, A., Muhammadi, A. H., & Jiang, H. (2017b). Political connections, related party transactions, and auditor choice: Evidence from Indonesia. Journal of Contemporary Accounting & Economics, 13(1), 1-19. https://doi.org/10.1016/j.jcae.2017.01.004
DOI
|
19 |
Cheng, C. A., Li, S., & Zhang, E. X. (2020). Operating cash flow opacity and stock price crash risk. Journal of Accounting and Public Policy, 39(3), 106717. https://doi.org/10.1016/j.jaccpubpol.2020.106717
DOI
|
20 |
OECD. (2009). Guide on Fighting Abusive Related Party Transactions in Asia. Paris, France: OECD.
|
21 |
PwC. (2014). Family Business Survey 2014 Findings for Indonesia. Retrieved from Indonesia: https://www.pwc.com/id/en/publications/assets/Family-Business-Survey-2014-Country-Report-Indonesia.pdf
|
22 |
PwC. (2018). Family Business Survey 2018 Indonesia Report. Retrieved from Indonesia: https://www.pwc.com/id/en/epc/fbs-2018-indonesia.pdf
|
23 |
Chen, C., Kim, J.-B., & Yao, L. (2017). Earnings smoothing: Does it exacerbate or constrain stock price crash risk? Journal of Corporate Finance, 42, 36-54. https://doi.org/10.1016/j.jcorpfin.2016.11.004
DOI
|
24 |
Ali, A., Chen, T.-Y., & Radhakrishnan, S. (2007). Corporate disclosures by family firms. Journal of accounting and economics, 44(1-2), 238-286. https://doi.org/10.1016/j.jacceco.2007.01.006
DOI
|
25 |
Attig, N., Fong, W.-M., Gadhoum, Y., & Lang, L. H. (2006). Effects of large shareholding on information asymmetry and stock liquidity. Journal of Banking & Finance, 30(10), 2875-2892. https://doi.org/10.1016/j.jbankfin.2005.12.002
DOI
|
26 |
Boubaker, S., Mansali, H., & Rjiba, H. (2014). Large controlling shareholders and stock price synchronicity. Journal of Banking & Finance, 40, 80-96. https://doi.org/10.1016/j.jbankfin.2013.11.022
DOI
|
27 |
Song, L. (2015). Accounting disclosure, stock price synchronicity and stock crash risk. International Journal of Accounting & Information Management. https://doi.org/10.1108/IJAIM02-2015-0007
DOI
|
28 |
Rahmat, M. M., Muniandy, B., & Ahmed, K. (2020). Do related party transactions affect earnings quality? Evidence from East Asia. International Journal of Accounting & Information Management. https://doi.org/10.1108/IJAIM-12-2018-0146
DOI
|
29 |
Ryu, H.-Y. (2018). The Effect of Related Party Transactions on Crash Risk. Journal of Asian Finance, Economics and Business, 9(6), 49-55. https://doi.org/10.13106/ijidb.2018.vol9.no6.49
DOI
|
30 |
Shleifer, A., & Vishny, R. W. (1997). A survey of corporate governance. The Journal of Finance, 52(2), 737-783.
DOI
|
31 |
Srinidhi, B., & Liao, Q. (2020). Family firms and crash risk: Alignment and entrenchment effects. Journal of Contemporary Accounting & Economics, 16(2), 100204. https://doi.org/10.1016/j.jcae.2020.100204
DOI
|
32 |
Munir, S. A., Saleh, N. M., Jaffar, R., & Yatim, P. (2013). Family ownership, related-party transactions and earnings quality. Asian Academy of Management Journal of Accounting and Finance (AAMJAF), 9(1), 129-153.
|
33 |
Fan, J. P., & Wong, T. J. (2002). Corporate ownership structure and the informativeness of accounting earnings in East Asia. Journal of accounting and economics, 33(3), 401-425. https://doi.org/10.1016/S0165-4101(02)00047-2
DOI
|
34 |
Chen, J., Hong, H., & Stein, J. C. (2001). Forecasting crashes: Trading volume, past returns, and conditional skewness in stock prices. Journal of Financial Economics, 61(3), 345-381. https://doi.org/10.1016/S0304-405X(01)00066-6
DOI
|
35 |
Cheung, Y.-L., Rau, P. R., & Stouraitis, A. (2006). Tunnelling, propping, and expropriation: Evidence from connected party transactions in Hong Kong. Journal of Financial Economics, 82(2), 343-386. https://doi.org/10.1016/j.jfineco.2004.08.012
DOI
|
36 |
Gujarati, D. N. (2004). Introductory econometrics (4th ed.). New York, NY: McGraw-Hill Education.
|
37 |
Bertrand, M., Mehta, P., & Mullainathan, S. (2002). Ferreting out tunnelling: An application to Indian business groups. The Quarterly Journal of Economics, 117(1), 121-148. https://doi.org/10.2139/ssrn.246001
DOI
|
38 |
Chae, S.-J., Nakano, M., & Fujitani, R. (2020). Financial Reporting Opacity, Audit Quality and Crash Risk: Evidence from Japan. Journal of Asian Finance, Economics and Business, 7(1), 9-17. https://doi.org/10.13106/jafeb.2020.vol7.no1.9
DOI
|
39 |
Harymawan, I., Lam, B., Nasih, M., & Rumayya, R. (2019). Political connections and stock price crash risk: Empirical evidence from the fall of Suharto. International Journal of Financial Studies, 7(3), 49. https://doi.org/10.3390/ijfs7030049
DOI
|
40 |
Shahab, Y., Ntim, C. G., Ullah, F., Yugang, C., & Ye, Z. (2020). CEO power and stock price crash risk in China: Do female directors' critical mass and ownership structure matter? International Review of Financial Analysis, 68, 101457. https://doi.org/10.1016/j.irfa.2020.101457
DOI
|
41 |
Gordon, E. A., Henry, E., & Palia, D. (2004). Related party transactions and corporate governance. Advances in Financial Economics, 9(4), 1-27. https://doi.org/10.1016/S1569-3732(04)09001-2
DOI
|
42 |
Kang, M., Lee, H.-Y., Lee, M.-G., & Park, J. C. (2014). The association between related-party transactions and control-ownership wedge: Evidence from Korea. Pacific-Basin Finance Journal, 29, 272-296. https://doi.org/10.1016/j.pacfin.2014.04.006
DOI
|
43 |
Villalonga, B., & Amit, R. (2006). How do family ownership, control and management affect firm value? Journal of Financial Economics, 80(2), 385-417. https://doi.org/10.1016/j.jfineco.2004.12.005
DOI
|
44 |
Wang, D. (2006). Founding family ownership and earnings quality. Journal of Accounting Research, 44(3), 619-656. https://doi.org/10.1111/j.1475-679X.2006.00213.x
DOI
|
45 |
DeFond, M. L., Hung, M., Li, S., & Li, Y. (2015). Does mandatory IFRS adoption affect crash risk? The Accounting Review, 90(1), 265-299. https://doi.org/10.2308/accr-50859
DOI
|
46 |
Jia, N., Shi, J., & Wang, Y. (2013). Coinsurance within business groups: Evidence from related party transactions in an emerging market. Management Science, 59(10), 2295-2313. https://doi.org/10.1287/mnsc.1120.1703
DOI
|
47 |
Bhaumik, S. K., & Gregoriou, A. (2010). 'Family'ownership, tunnelling and earnings management: A review of the literature. Journal of Economic Surveys, 24(4), 705-730. https://doi.org/10.1111/j.1467-6419.2009.00608.x
DOI
|
48 |
Habib, A., Jiang, H., & Zhou, D. (2020). Related party transactions and stock price crash risk: Evidence from China. International Journal of Accounting, Forthcoming. https://doi.org/10.1111/acfi.12278
DOI
|
49 |
Huang, W., Liu, Q., Rhee, S. G., & Wu, F. (2012). Extreme downside risk and expected stock returns. Journal of Banking & Finance, 36(5), 1492-1502. https://doi.org/10.1016/j.jbankfin.2011.12.014
DOI
|
50 |
Jiang, G., Lee, C. M., & Yue, H. (2010). Tunnelling through intercorporate loans: The China experience. Journal of Financial Economics, 98(1), 1-20. https://doi.org/10.1016/j.jfineco.2010.05.002
DOI
|
51 |
Kohlbeck, M., & Mayhew, B. W. (2017). Are related-party transactions red flags? Contemporary Accounting Research, 34(2), 900-928. https://doi.org/10.1111/ijlh.12426
DOI
|