eprintid: 47610
rev_number: 57
eprint_status: archive
userid: 9239
dir: disk0/00/04/76/10
datestamp: 2025-03-10 01:56:29
lastmod: 2025-03-10 01:56:29
status_changed: 2025-03-10 01:56:29
type: thesis
metadata_visibility: show
contact_email: nawang.kalbuana@gmail.com
creators_name: KALBUANA, NAWANG
creators_id: 7783220004
contributors_type: http://www.loc.gov/loc.terms/relators/THS
contributors_type: http://www.loc.gov/loc.terms/relators/THS
contributors_name: Uzliawati, Lia
contributors_name: Muchlish, E. Munawar
contributors_id: 197611072002122011
contributors_id: 197509092005011002
corp_creators: UNIVERSITAS SULTAN AGENG TIRTAYASA
corp_creators: FAKULTAS EKONOMI DAN BISNIS
corp_creators: DOKTOR ILMU AKUNTANSI
title: PERAN AUDIT REPORT LATE DALAM MEMEDIASI PENGARUH CORPORATE GOVERNANCE MECHANISMS, AUDIT FEE DAN LITIGASI TERHADAP VALUE CREATION
ispublished: pub
subjects: HF
subjects: HF5601
subjects: HG
divisions: s3akun
divisions: FEB
full_text_status: restricted
keywords: audit fees, corporate governance mechanisms, litigation, audit report delay, value creation.
audit fee, corporate governance mechanism, litigasi, audit report late, value creation.
note: Penelitian ini bertujuan untuk memberikan bukti empiris tentang pengaruh
pengaruh audit fee, corporate governance mechanism (diproksikan dengan
komisaris independen, komite audit independen), dan litigasi terhadap audit report
late dan value creation, serta untuk mengevaluasi peran audit report late dalam
memediasi pengaruh variabel audit fee, corporate governance mechanism, dan
litigasi terhadap value creation.
Metode penelitian yang digunakan adalah pendekatan kuantitatif dengan
analisis data panel, yang melibatkan seluruh perusahaan yang terdaftar di Bursa
Efek Indonesia dan pernah mengalami keterlambatan dalam menyampaikan
laporan keuangan audit serta menerima Surat Peringatan dari Otoritas Jasa
Keuangan selama periode 2018 hingga 2023. Teknik analisis data yang digunakan
adalah statistik deskriptif, uji asumsi klasik, dan analisis regresi linier berganda
dengan menggunakan aplikasi Stata.
Temuan penelitian menunjukkan bahwa audit fee berpengaruh positif
signifikan terhadap audit report late, menandakan bahwa audit fee yang tinggi
sering kali berkaitan dengan audit report late. Sebaliknya, komisaris independen
berpengaruh negatif signifikan terhadap audit report late, menunjukkan bahwa
keberadaan mereka mempercepat penyelesaian audit. Namun, komite audit
independen tidak menunjukkan pengaruh signifikan terhadap audit report late.
Litigasi terbukti memiliki pengaruh positif terhadap audit report late, akibat dari
risiko hukum yang memerlukan audit yang lebih mendetail. Dalam hal value
creation, audit fee, komisaris independen, dan komite audit independen tidak
menunjukkan pengaruh signifikan, sementara litigasi juga tidak mempengaruhi
value creation secara langsung. Meski demikian, audit report late berpengaruh
positif signifikan terhadap value creation, mengindikasikan bahwa keterlambatan
laporan audit mungkin mencerminkan komitmen terhadap kualitas informasi yang
mendukung value creation. Audit report late tidak signifikan memediasi hubungan
antara audit fee dan value creation, serta antara komite audit independen dan value
creation. Namun, audit report late memediasi hubungan antara komisaris
independen dan value creation secara negatif, serta antara litigasi dan value
creation secara signifikan.
Hasil penelitian ini memberikan beberapa kontribusi penelitian (novelty)
signifikan dalam ilmu pengetahuan yang bermanfaat bagi akademisi dan praktisi.
Pertama, penelitian ini mengembangkan kerangka pengukuran variabel value
creation yang lebih komprehensif dengan mengintegrasikan aspek keuangan dan non-keuangan, sehingga menghadirkan perspektif baru yang lebih menyeluruh
dalam mengukur kinerja perusahaan. Kedua, penelitian ini memperkenalkan
variabel baru yang dinamakan audit report late (ARLt), yang mengintegrasikan
konsep audit report lag dan regulasi atas keterlambatan penyampaian laporan audit.
Variabel ini diukur menggunakan skala ordinal, melalui pendekatan yang jarang
dieksplorasi dan sering terabaikan dalam penelitian sebelumnya. Pendekatan ini
memungkinkan analisis yang lebih mendalam terhadap data perusahaan, sehingga
menghasilkan temuan yang lebih akurat dan relevan dalam mengidentifikasi faktorfaktor yang mempengaruhi keterlambatan laporan audit. Ketiga, penelitian ini
memperkenalkan teori keterlambatan laporan audit (audit report late theory) yang
menawarkan perspektif baru dalam teori agensi. Teori ini menekankan bagaimana
auditor memanfaatkan durasi audit sebagai langkah strategis untuk meningkatkan
akurasi laporan keuangan, melindungi kepentingan pemegang saham, dan
mengelola risiko litigasi. Pendekatan ini menggeser fokus tradisional yang lebih
menekankan pada faktor internal seperti audit fee, menuju faktor eksternal yang
lebih kompleks, seperti litigasi, yang turut mempengaruhi kualitas audit dan value
creation. Keempat, model penelitian ini mengeksplorasi hubungan litigasi terhadap
audit report late serta hubungan litigasi terhadap value creation di Indonesia,
sebuah area yang masih sangat terbatas dan kurang mendapat perhatian dari peneliti
sebelumnya yang masih terfokus pada konsep konservatisme (risiko litigasi).
Penelitian ini memberikan kontribusi signifikan dengan menyajikan bukti empiris
yang masih jarang diteliti, memperkaya pemahaman tentang bagaimana litigasi
mempengaruhi audit report late dan bagaimana litigasi mempengaruhi value
creation, serta membuka peluang bagi penelitian lanjutan dalam bidang audit,
pelaporan keuangan, dan litigasi perusahaan, sehingga memperluas perspektif
dalam kajian audit dan dinamika perusahaan. Kebaruan ini turut memperkuat peran
teori agensi, khususnya dalam konteks bagaimana audit fee, corporate governance
mechanism (komisaris independen, komite audit independen) dan litigasi dapat
mempengaruhi audit report late dan value creation. Penelitian ini tidak hanya
memperdalam, tetapi juga memperluas fondasi teoritis dan praktis di bidang
auditing dan corporate governance, memberikan wawasan baru dalam memahami
dinamika antara faktor-faktor tersebut dalam konteks perusahaan Indonesia.
abstract: This study aims to provide empirical evidence about the effect of the
influence of audit fees, corporate governance mechanisms (proxied by independent
commissioners, independent audit committees), and litigation on audit report late
and value creation, as well as to evaluate the role of audit report late in mediating
the influence of audit fee variables, corporate governance mechanisms, and
litigation on value creation.
The research method used is a quantitative approach with panel data
analysis, involving all companies listed on the Indonesia Stock Exchange and have
experienced delays in submitting audit financial reports and receiving Warning
Letters from the Financial Services Authority during the period 2018 to 2023. The
data analysis techniques used are descriptive statistics, classical assumption tests,
and multiple linear regression analysis using the Stata application..
The research findings show that audit fees have a significant positive effect
on audit report late, signalling that high audit fees are often associated with audit
report late. In contrast, independent commissioners have a significant negative
effect on audit report late, indicating that their presence accelerates audit
completion. However, independent audit committees do not show a significant
effect on audit report late. Litigation is shown to have a positive influence on audit
report late, as a result of legal risks that require a more detailed audit. In terms of
value creation, audit fee, independent commissioner, and independent audit
committee do not show significant influence, while litigation also does not affect
value creation directly. However, audit report late has a significant positive effect
on value creation, indicating that audit report late may reflect a commitment to the
quality of information that supports value creation. Audit report late does not
significantly mediate the relationship between audit fee and value creation, as well
as between independent audit committee and value creation. However, audit report
late mediates the relationship between independent commissioners and value
creation negatively, and between litigation and value creation significantly.
The results of this study provide several significant research contributions
(novelty) in science that are useful for academics and practitioners. First, this study
develops a more comprehensive value creation variable measurement framework
by integrating financial and non-financial aspects, thus presenting a new, more
comprehensive perspective in measuring company performance. Second, this study
introduces a new variable called audit report late (ARLt), which integrates the concept of audit report lag and regulation on the late submission of audit reports.
This variable is measured using an ordinal scale, through an approach that is rarely
explored and often overlooked in previous research. This approach allows for a
more in-depth analysis of company data, resulting in more accurate and relevant
findings in identifying factors that influence audit report lags. Third, this study
introduces the audit report late theory which offers a new perspective in agency
theory. This theory emphasises how auditors utilise audit duration as a strategic
move to improve financial statement accuracy, protect shareholder interests, and
manage litigation risk. This approach shifts the traditional focus from internal
factors, such as audit fees, to more complex external factors, such as litigation, that
influence audit quality and value creation. Fourth, this research model explores the
relationship of litigation to audit report late as well as the relationship of litigation
to value creation in Indonesia, an area that has received limited attention from
previous researchers who have focused on the concept of conservatism (litigation
risk). This study makes a significant contribution by presenting empirical evidence
that is still rarely studied, enriching the understanding of how litigation affects audit
report late and how litigation affects value creation, and opening up opportunities
for further research in the fields of auditing, financial reporting, and corporate
litigation, thereby broadening perspectives in the study of audit and corporate
dynamics. This novelty also strengthens the role of agency theory, especially in the
context of how audit fees, corporate governance mechanisms (independent
commissioners, independent audit committees) and litigation can affect audit report
late and value creation. This research not only deepens, but also extends the
theoretical and practical foundations in auditing and corporate governance,
providing new insights in understanding the dynamics between these factors in the
context of Indonesian companies.
date: 2025
date_type: published
pages: 418
institution: UNIVERSITAS SULTAN AGENG TIRTAYASA
department: DOKTOR ILMU AKUNTANSI
thesis_type: doctoral
thesis_name: phd
referencetext: Ado, A. B., Rashid, N., Mustapha, U. A., & Ademola, L. S. (2020). The Impact Of Audit Quality On The Financial Performance Of Listed Companies Nigeria. Journal of Critical Reviews, 7(9), 37–42.

Afify, H. A. E. (2009). Determinants of audit report lag: Does implementing corporate governance have any impact? Empirical evidence from Egypt. Journal of Applied Accounting Research, 10(1), 56–86. https://doi.org/10.1108/09675420910963397

Afriat, H., Dvir-Gvirsman, S., Tsuriel, K., & Ivan, L. (2020). “This is capitalism. It is not illegal”: Users’ attitudes toward institutional privacy following the Cambridge Analytica scandal. Information Society, 37(2), 115–127. https://doi.org/10.1080/01972243.2020.1870596

Agarwal, S., & Kapoor, R. (2023). Value Creation Tradeoff in Business Ecosystems: Leveraging Complementarities While Managing Interdependencies. Organization Science, 34(3), 1216–1242. https://doi.org/10.1287/orsc.2022.1615

Agyei-Mensah, B. K. (2018). Impact of corporate governance attributes and financial reporting lag on corporate financial performance. African Journal of Economic and Management Studies, 9(3), 349–366. https://doi.org/10.1108/AJEMS-08-2017-0205

Ahmet, S., Halil, E. I., & Burcu, B. (2022). How Important is Corporate Governance Features and the Lags on Audit Reports in Firm Performance: The Case of Turkey. Studies in Business and Economics, 17(1), 218–237. https://doi.org/10.2478/sbe-2022-0015

Aisyah, S. (2022). The Role of Financial Performance as a Mediator Between Good Corporate Governance and Firm Value. Atestasi : Jurnal Ilmiah Akuntansi, 5(1), 255–268. https://doi.org/10.57178/atestasi.v5i1.312

Al-Araj, R. (2023). Characteristics of ACs and their impact on the period of issuing the auditor’s report: An Empirical study on Jordanian public shareholding companies. Uncertain Supply Chain Management, 11(2), 503–512. https://doi.org/10.5267/j.uscm.2023.2.014

Amar, W. Ben, Boujenoui, A., & Francoeur, C. (2011). CEO attributes, board composition, and acquirer value creation: A Canadian study. Canadian Journal of Administrative Sciences, 28(4), 480–492. https://doi.org/10.1002/CJAS.223

Ameels, A., Bruggeman, W., & Scheipers, G. (2002). Value-based Management Control Processes to Create Value through Integration - A literature Review. Recent Trends in Valuation: From Strategy to Value, (18), 87–150.

Anwar, R., Suleman, N., & Thalib, M. (2022). Size board of commissioners, independent commissioners and audit Committee on Audit Report Lag. Golden Ratio of Auditing Research, 2, 1.  https://doi.org/10.52970/grar.v2i1.

Arhinful, R., & Radmehr, M. (2023). The effect of financial leverage on financial performance: evidence from non-financial institutions listed on the Tokyo stock market. Journal of Capital Markets Studies, 7(1), 53–71. https://doi.org/10.1108/jcms-10-2022-0038

Ariani, D. I. R., & Agustia, D. (2020). The impacts of good corporate governance on corporate performance with corporate social responsibility disclosure as the intervening variable. International Journal of Innovation, Creativity and Change, 11(9), 280–299.  https://www.scopus.com/inward/record.uri?eid=2-s2.0-85082194450&partnerID=40&md5=56ec2fd5906cbb9ce6e57f5ac48fe1ec

Arora, A. (2022). Female Leadership and Firm Value in an Emerging Economy: A Panel Data Framework. Vision, 1–10. https://doi.org/10.1177/09722629221101153

Ashton, R. H., Willingham, J. J., & Elliott, R. K. (1987). An Empirical Analysis of Audit Delay Journal. Journal of Accounting Research, 25(2), 275–292.

Aviantara, R. (2023). Scoring the financial distress and the financial statement fraud of Garuda Indonesia with «DDCC» as the financial solutions. Journal of Modelling in Management, 18(1), 1–16. https://doi.org/10.1108/JM2-01-2020-0017

Azzuhri, A. A., Syarafina, A., Yoga, F. T., & Amalia, R. (2018). A Creative, Innovative, and Solutive Transportation for Indonesia with Its Setbacks and How to Tackle Them: A Case Study of the Phenomenal GOJEK. Review of Integrative Business and Economics Research, 7(1), 59–67.  http://buscompress.com/journal-home.html

Bank Indonesia, G. (2006). Peraturan Bank Indonesia Nomor 8/4/PBI/2006 tentang Pelaksanaan Good Corporate Governance Bagi Bank Umum. Bank Indonesia Nomor 8/4/PBI/2006, 1–30.

Baron, R. M., & Kenny, D. A. (1986). The Moderator-Mediator Variable Distinction in Social Psychological Research. Conceptual, Strategic, and Statistical Considerations. Journal of Personality and Social Psychology, 51(6), 1173–1182. https://doi.org/10.1037/0022-3514.51.6.1173

Binti Hashim, U. J., & Abdul Rahman, R. B. (2012). Internal corporate governance mechanisms and audit report lag: A study of Malaysian listed companies. Corporate Board: Role, Duties and Composition, 8(3), 48–63. https://doi.org/10.22495/cbv8i3art4

Buachoom, W. W., & Amornkitvikai, Y. (2022). The Moderating Effects of Board Independence and the Separation of Chairman–Chief Executive Officer Duality Roles on a Firm’s Value: Evidence from the Thai Listed Firms. Global Business Review. https://doi.org/10.1177/09721509221119705

Buallay, A., Hamdan, A., & Zureigat, Q. (2017). Corporate governance and firm performance: evidence from Saudi Arabia. Australasian Accounting, Business and Finance Journal, 11(1), 78–98. https://doi.org/10.14453/aabfj.v11i1.6

Budisantoso, T., & Kurniawan, H. (2024). The contagion effect of decreasing audit’s quality on financial statement audit engagement: the Indonesian case. Asia-Pacific Journal of Business Administration, 16(1), 63–76. https://doi.org/10.1108/APJBA-11-2020-0393

Carcello, J. V, & Palmrose, Z.-V. (1994). Auditor litigation and modified reporting on bankrupt clients. Journal of Accounting Research, 32(May 2023), 1–30.

Chapman, K., Drake, M., Schroeder, J. H., & Seidel, T. (2023). Earnings announcement delays and implications for the auditor-client relationship. Review of Accounting Studies, 28(1), 45–90. https://doi.org/10.1007/s11142-021-09635-3

Chen, C, Jia, H., Xu, Y., & Ziebart, D. (2022). The effect of audit firm attributes on audit delay in the presence of financial reporting complexity. Managerial Auditing Journal, 37(2), 283–302. https://doi.org/10.1108/MAJ-12-2020-2969

Chen, Chu, Jia, H., Xu, Y., & Ziebart, D. (2022). The effect of audit firm attributes on audit delay in the presence of financial reporting complexity. Managerial Auditing Journal, 37(2), 283–302. https://doi.org/10.1108/MAJ-12-2020-2969

Chen, L., Yuan, T., Cebula, R. J., Shuangjin, W., & Foley, M. (2021). Fulfillment of esg responsibilities and firm performance: a zero‐sum game or mutually beneficial. Sustainability (Switzerland), 13(19). https://doi.org/10.3390/su131910954

Chen, Y. M., Liu, H. H., Liu, Y. S., & Huang, H. T. (2016). A preemptive power to offensive patent litigation strategy: Value creation, transaction costs and organizational slack. Journal of Business Research, 69(5), 1634–1638. https://doi.org/10.1016/j.jbusres.2015.10.030

Craswell, A., Stokes, D. J., & Laughton, J. (2002). Auditor independence and fee dependence. Journal of Accounting and Economics, 33(2), 253–275. https://doi.org/10.1016/S0165-4101(02)00044-7

DeAngelo, L. E. (1981). Auditor size and audit fees. Journal of Accounting and Economics, 3(3), 183–199.

Durand, G. (2019). The determinants of audit report lag: a meta-analysis. Managerial Auditing Journal, 34(1), 44–75. https://doi.org/10.1108/MAJ-06-2017-1572

Durrand, G. (2018). The determinants of audit report lag: a meta-analysis. Managerial Auditing Jpurnal, 34(1), 1–5.

Dwiyani, T., Purnomo, & Darmanto. (2020). Debt on asset ratio, return on asset and audit opinion toward return share with the intervening audit delay. International Journal of Economics, Business and Accounting Research (IJEBAR), 4(1).

Eisenhardt, K. M. (1989). Agency theory: An assessment and review. Academy of Management Review, 14(1), 57–74.

Elitzur, R., & Falk, H. (1996). Planned audit quality. Journal of Accounting and Public Policy, 15(3), 247–269. https://doi.org/10.1016/0278-4254(96)00024-5

Fama, E. F. (1978). The Effects of a Firm’s Investment and Financing Decisions on the Welfare of Its Security Holders. The American Economic Review, 68(3), 272–284.

Fama, E. F., & French, K. R. (1998). Taxes, financing decisions, and firm value. Journal of Finance, 53(3), 819–843. https://doi.org/10.1111/0022-1082.00036

Fama, E., & Jensen, M. C. (1983). Separation of Ownership and Control. The Journal of Law and Economics, 26, 301–325. https://doi.org/10.1086/467037

Fauziah, N., & Setiawati, E. (2023). The effect of auditor fees, audit opinions, audit tenure, profitability and company size on audit delay. International Journal of Latest Research in Humanities and Social Science (IJLRHSS), 06(05), 81–89.

Ferguson, A., & Stokes, D. (2010). Brand Name Audit Pricing, Industry Specialization, and Leadership Premiums post-Big 8 and Big 6 Mergers. Contemporary Accounting Research, 19(1), 111–116. https://doi.org/10.1506/30f8-3mch-wv7b-2cgv

Ferriswara, D., Sayidah, N., & Buniarto, E. A. (2022). Do corporate governance , capital structure predict financial performance and firm value ?( empirical study of Jakarta Islamic index ). Cogent Business and Management, 9(1). https://doi.org/10.1080/23311975.2022.2147123

Gede, W. A. A., & Ratna, S. M. M. (2021). The effect of gender of the audit committee, audit committee meetings, audit committee independence, independent commissioners and institutional ownership on audit delay. Eurasia: Economics & Business, 1(43), 5–24.

Ghardallou, W. (2023). The heterogeneous effect of leverage on firm performance: a quantile regression analysis. International Journal of Islamic and Middle Eastern Finance and Management, 16(1), 210–225. https://doi.org/10.1108/IMEFM-12-2021-0490

Grimaldi, M., Cricelli, L., & Rogo, F. (2012). A methodology to assess value creation in communities of innovation. Journal of Intellectual Capital, 13(3), 305–330. https://doi.org/10.1108/14691931211248882

Hall, J. H. (2015). International Journal of Productivity and Performance Management. International Journal of Productivity and Performance Management, 64(8), 1–49. https://doi.org/https://doi.org/10.1108/IJPPM-08-2016-0178

Hall, J. H. (2018). Value creation measures: an industry-based study. International Journal of Productivity and Performance Management, 67(2), 426–444. https://doi.org/10.1108/IJPPM-08-2016-0178

Handayani, B. D., Rohman, A., Chariri, A., & Pamungkas, I. D. (2020). Corporate financial performance on corporate governance mechanism and corporate value: Evidence from Indonesia. Montenegrin Journal of Economics, 16(3), 161–171. https://doi.org/10.14254/1800-5845/2020.16-3.13

Handayani, Y. D., & Yustikasari, Y. (2017). Corporate Governance and Audit Report Lags at Manufacturing Companies in the Industrial Sector of Consumption Goods. European Journal of Business and Management, 9(29), 24–32.  www.iiste.org

Harjoto, M. A., & Laksmana, I. (2023). The impact of COVID-19 restrictions on audit fees and audit delay: evidence from auditor local offices. Managerial Auditing Journal. https://doi.org/10.1108/MAJ-03-2022-3487

He, H., & Shi, W. (2023). Enterprise litigation risk and enterprise performance. Finance Research Letters, (April), 1–8. https://doi.org/10.1016/j.frl.2023.103783

Hidayati, N. D. (2011). Pattern of corporate social responsibility programs: A case study. Social Responsibility Journal, 7(1), 104–117. https://doi.org/10.1108/17471111111114576

Hoitash, R., Markelevich, A., & Barragato, C. A. (2007). Auditor fees and audit quality. Managerial Auditing Journal, 22(8), 761–786. https://doi.org/10.1108/02686900710819634

Hossain, M. K., Islam, M. S., & Reza, M. M. (2022). Do Corporate Governance Mechanisms Truly Act As The Drivers Of Shareholder Value In The Banking Sector In Bangladesh ? Evidence From The Economic Profit Perspective. International Journal of Business and Society, 23(2), 1005–1024.

Huang, X., & Kang, F. (2022). Do high-reputation companies pay more non-audit fees? Accounting Research Journal, 35(2), 145–159. https://doi.org/10.1108/ARJ-07-2020-0171

IAPI. (2016). Peraturan Pengurus Nomor 2 Tahun 2016 Tentang Penentuan Imbalan Jasa Audit Laporan Keuangan. Jurnal Ekonomi Modernisasi, Vol. 14, pp. 177–194.

Indriastuti, M., Winarsih, & Najihah, N. (2021). Information disclosure on good corporate governance and corporate social responsibility as determinants of firm value (B. L., P.-M. A., & E. T., Eds.). 14th International Conference on Complex, Intelligent and Software Intensive Systems, CISIS 2020, Held in Conjunction with the 14th International Conference on Innovative Mobile and Internet Services in Ubiquitous Computing, IMIS 2020, pp. 375–382. https://doi.org/10.1007/978-3-030-50454-0_36

Itan, I., & Antoni, A. (2021). Does Corporate Governance Influence Value Creation : Assessing the Mediating Role of Csr and Tax Avoidance. Jurnal Ekonomi Balance, 17(2), 301–316. https://doi.org/10.26618/jeb.v17i2.6077

Jia, N., Shi, J., & Wang, Y. (2018). Value creation and value capture in governing shareholder relationships: Evidence from a policy experiment in an emerging market. Strategic Management Journal, 39(9), 2466–2488. https://doi.org/10.1002/smj.2921

Johnson, L. E. (1998). Further evidence on the determinants of local government audit delay. Journal of Public Budgeting, Accounting & Financial Management, 10(3).

Kalash, I. (2023). The financial leverage–financial performance relationship in the emerging market of Turkey: the role of financial distress risk and currency crisis. EuroMed Journal of Business, 18(1), 1–20. https://doi.org/10.1108/EMJB-04-2021-0056

Kaprowski, W. R., Arsenault, S. J., & Cipriano, M. (2010). Financial statement reporting of pending litigation : attorneys, auditors, and difference of opinions. Fordham Journal of Corporate & Financial Law, 15(2).

Kartika, I., Sulistyowati, S., Septiawan, B., & Indriastuti, M. (2022). Corporate governance and non-performing loans: The mediating role of financial performance. Cogent Business and Management, 9(1). https://doi.org/10.1080/23311975.2022.2126123

Khamainy, A. H., Ali, M., & Setiawan, M. A. (2022). Detecting financial statement fraud through new fraud diamond model: the case of Indonesia. Journal of Financial Crime, 29(3), 925–941. https://doi.org/10.1108/JFC-06-2021-0118

Khan, A. W., & Subhan, Q. A. (2019). Impact of board diversity and audit on firm performance. Cogent Business & Management, 6(01), 1–16. https://doi.org/10.1080/23311975.2019.1611719

Khasharmeh, H. A., & Aljifri, K. (2010). The timeliness of annual report in bahrain and the united arab emirates ; an empirical comparative study. The International Journal of Business and Finance Research, 4(1), 335–366. https://doi.org/10.1515/9781685856953-017

Krishnan, J., & Krishnan, J. (1997). Litigation Risk and Auditor Resignations. The Accounting Review, 72(4), 539–560.

Kumar, K. K., & Vijayan, V. (2018). Value Creation Measurements : An Industry Based Study in India. International Journal of Science and Research (IJSR), 8(4), 1120–1123.

Kwak, J., & Park, M. (2020). Effect of Auditor ’ s Simultaneous Audit and Tax Services and Tax-service Fee on Firm Value : Korea ’ s Evidence. Journal of Asian Finance, Economics and Business, 7(7), 219–228. https://doi.org/10.13106/jafeb.2020.vol7.no7.219

Lajmi, A., & Yab, M. (2022). The impact of internal corporate governance mechanisms on audit report lag: evidence from Tunisian listed companies. EuroMed Journal of Business, 17(4), 619–633. https://doi.org/10.1108/EMJB-05-2021-0070

Larasati, D. A., Ratri, M. C., & Nasih, M. (2019). Cogent Business & Management Independent audit committee , risk management committee , and audit fees Independent audit committee , risk management committee , and audit fees. Cogent Business & Management, 00(00). https://doi.org/10.1080/23311975.2019.1707042

Leditho, M. D., Kusumastati, W. W., & Safiq, M. (2023). Do company performance, multinational company, and audit fee affect audit delay? Journal of Applied Accounting and Finance, 7(1), 13–27.

Lee, H.-Y., & Jahng, G.-J. (2008). Determinants of audit report lag: evidence from Korea - an examination of auditor related factors. The Journal of Applied Business Research, 24(2), 27–44.

Leventis, S., Weetman, P., & Caramanis, C. (2005). Determinants of audit report lag: some evidence from the Athens stock exchange. International Journal of Auditing, 9(1), 45–58. https://doi.org/10.1111/j.1099-1123.2005.00101.x

Lidyah, R., Mismiwati, Hartini, T., Akbar, D. A., Africano, F., & Anggreni, M. (2020). The Effect of Audit Committee, Independent Commissioners Board And Firm Size on Audit Delay Through Capital Structure as An Intervening Variable In Sharia Bank. PalArch’s Journal of Archaeology of Egypt/Egyptology, 17(7), 11313–11325.

Liu, H., Cullinan, C., & Zhang, J. (2021). Litigation against clients and audit report lag: an examination of the role of state ownership and regional legal development in China. Managerial Auditing Journal, 36(5), 744–769. https://doi.org/10.1108/MAJ-02-2020-2557

Lu, H., & Wang, L. (2022). Risk Analysis of Enterprises’ Investment in Infrastructure in Developing Countries Based on Structural Equation Model. Mobile Information Systems, 2022. https://doi.org/10.1155/2022/4790726

Lumapow, L. S. (2018). The Influence of Managerial Ownership and Firm Size On Debt Policy. International Journal of Applied Business & International Management, 3(1), 305–360. https://doi.org/https://doi.org/10.1016/0304-405X(76)90026-X

Lys, T., & Watts, R. L. (1994). Lawsuits against auditors. Journal of Accounting Research, 32(May 2023), 65–93.

Mali, S., Rakocevic, S. B., & Savoiu, G. (2012). Value creation through restructuring - key value drivers and value creation models. Organizacja i Kierowanie, 2012(4).

Malm, J., Soyeh, K. W., & Kanuri, S. (2023). Journal of Behavioral and Experimental Finance Litigation risk and corporate performance. Journal of Behavioral and Experimental Finance, 37, 100725. https://doi.org/10.1016/j.jbef.2022.100725

Martinez, A. L., & Arquimedes de Jesus Moraes. (2014). Association between independent auditor fees and firm value: a study of Brazilian public companies. Journal of Modern Accounting and Auditing, 10(4), 442–450.

Masulis, R. W., & Korwar, A. N. (1986). Seasoned equity offerings. Journal of Financial Economics, 15, 91–118.

Masyitah, Z., Azhar, I., & Meutia, T. (2022). Pengaruh audit tenure dan penerapan IFRS terhadap keterlambatan penyampaian laporan keuangan dengan audit report lag sebagai pemediasi. Jurnal Mahasiswa Akuntansi Samudra, 3(5), 254–268. https://doi.org/10.33059/jmas.v3i5.6318

McTaggart, J. M., Kontes, P. W., & Mankins, M. C. (1994). The value imperative : managing for superior shareholder returns. Maxwell Macmillan Canada.

Modigliani, F., & Miller, M. H. (1958). The cost pf capital, corporation finance and the theory of investment. The American Economic Review, 48(3), 261–297. https://doi.org/10.1257/aer.103.7.i

Mohammed, N. F., Sutainim, N. A., Islam, M. S., & Mohamed, N. (2021). Integrated thinking, earnings manipulation and value creation: Malaysian empirical evidence. Business Process Management Journal, 27(4), 1179–1199. https://doi.org/10.1108/BPMJ-06-2020-0261

Moutinho, V., Cerqueira, A., & Brandão, E. (2012). Audit Fees and Firm Performance. Papers.Ssrn.Com. https://doi.org/http://dx.doi.org/10.2139/ssrn.2180020

Muhammad, M. I. (2020). Effects of auditor attributes on audit reporting lag: empirical evidence from nigerian service firm. Asian Journal of Empirical Research, 10(4), 127–136. https://doi.org/10.18488/journal.1007/2020.10.4/1007.4.127.136

Narang, S., & Kaur, M. (2014). Impact of Firm-specific Attributes on Shareholder Value Creation of Indian Companies: An Empirical Analysis. Global Business Review, 15(4), 847–866. https://doi.org/10.1177/0972150914543422

Narcisa, A. (2016). The Influence of the Corporate Governance Mechanisms and Audit Fees on the Financial Performance Measured With ROA. Annals of the „Constantin Brâncuşi” University of Târgu Jiu, Economy Series, (5), 20–31.

Nindita, C., & Siregar, S. V. (2013). Analisis Pengaruh Ukuran Kantor Akuntan Publik Terhadap Kualitas Audit di Indonesia. Jurnal Akuntansi Dan Keuangan, 14(2). https://doi.org/10.9744/jak.14.2.91-104

Nurwahyudi, M. R., & Mudasetia. (2020). Pengaruh Gender Wanita Dalam Dewan Direksi Terhadap Kinerja Keuangan Studi Pada Perusahaan Yang Masuk Index Kompas 100 Tahun 2014-2015. Jurnal STIE Semarang (Edisi Elektronik), 12(2), 106–127.

O’Sullivan, N. (2000). The impact of board composition and ownership on audit quality: Evidence from large UK companies. British Accounting Review, 32(4), 397–414. https://doi.org/10.1006/bare.2000.0139

Oradi, J. (2021). CEO succession origin, audit report lag, and audit fees: Evidence from Iran. Journal of International Accounting, Auditing and Taxation, 45(xxxx), 100414. https://doi.org/10.1016/j.intaccaudtax.2021.100414

Otoritas Jasa Keuangan. (2014). Peraturaan Otoritas Jasa Keuangan Nomor 33/POJK.04/2014 Tentang Direksi dan Dewan Komisaris Emiten Atau Perusahaan Publik.  https://www.ojk.go.id/id/regulasi/Documents/Pages/POJK-tentang-Direksi-dan-Dewan--Komisaris-Emiten-atau-Perusahaan-Publik/POJK 33. Direksi dan Dewan Komisaris Emiten Atau Perusahaan Publik.pdf

Oware, K. M., & Mallikarjunappa, T. (2019). Corporate social responsibility investment, third-party assurance and firm performance in India: The moderating effect of financial leverage. South Asian Journal of Business Studies, 8(3), 303–324. https://doi.org/10.1108/SAJBS-08-2018-0091

Palmrose, Z.-V. (1986). Audit Fees and Auditor Size: Further Evidence. Journal of Accounting Research, 24(1), 97. https://doi.org/10.2307/2490806

Palmrose, Z.-V. (1988). An analysis of auditor litigation and audit service quality. The Accounting ReviewAccounting, 63(1), 55–73.

Panda, B., & Leepsa, N. M. (2017). Agency theory: Review of theory and evidence on problems and perspectives. Indian Journal of Corporate Governance, 10(1), 74–95. https://doi.org/10.1177/0974686217701467

Parkash, M., Singhal, R., & Zhu, Y. (2022). The impact of loan covenants on audit delays and audit fees. Journal of Corporate Accounting and Finance, 33(4), 39–51. https://doi.org/10.1002/jcaf.22561

Prasetyo, I., Aliyyah, N., Rusdiyanto, R., Nartasari, D. R., Nugroho, S., Rahmawati, Y., … Rochman, A. S. (2021). What Affects Audit Delay in Indonesia? Academy of Entrepreneurship Journal, 27, 1–15.

Pratt, J., & Stice, J. D. (1994). Audit Evidence , and Recommended Audit Fees The Effects of Client Characteristics on Auditor Litigation Risk Judgments , Required Audit Evidence , and Recommended Audit Fees. The Accounting Review, 69(4), 639–656.

Pulic, A. (2004). Intellectual capital – does it create or destroy value? Measuring Business Excellence, 8(1), 62–68. https://doi.org/10.1108/13683040410524757

Purbawangsa, I. B. A., Solimun, S., Fernandes, A. A. R., & Mangesti Rahayu, S. (2020). Corporate governance, corporate profitability toward corporate social responsibility disclosure and corporate value (comparative study in Indonesia, China and India stock exchange in 2013-2016). Social Responsibility Journal, 16(7), 983–999. https://doi.org/10.1108/SRJ-08-2017-0160

Rahmatika, M. W., Widarjo, W., & Payamta, P. (2019). Peran Komisaris Independen dan Komite Audit dalam Meningkatkan Kinerja Keuangan Perusahaan Wholesale dan Retail Trade di Indonesia. Jurnal Akuntansi Dan Bisnis, 19(1), 54. https://doi.org/10.20961/jab.v19i1.384

Rusmanto, T., & Herlina, M. (2020). The connection between corporate governance and audit report lag: an Indonesian case. American International Journal of Business Management (AIJBM), 3(8), 67–73.  www.aijbm.com

Saepudin, M. T., Gagah, E., & Amboningtyas, D. (2020). Analysis of The Effect of Good Corporate Governance, Liquidity, and Capital Structure on Company Value With Financial Performance as intervening Variables. Journal of Management, 6(1).

Sahla, W. A., & Ardianto, A. (2023). Ethical values and auditors fraud tendency perception: testing of fraud pentagon theory. Journal of Financial Crime, 30(4), 966–982. https://doi.org/10.1108/JFC-04-2022-0086

Santos, C., Cerqueira, A., & Brandao, E. (2015). Audit Fees , Non-Audit Fees and Corporate Performance. FEP-UP, School of Economic and Management, University of Porto, (December), 1–27.  http://ideas.repec.org/PaperSeries.html

Santosa, S., Ismail, T., Hanifah, I. A., & Muchlish, M. (2023). Intellectual Capital Measurement Revisited: Bibliometric Analysis of Value-Added Intellectual Coefficient. Quality - Access to Success, 24(194), 333–344. https://doi.org/10.47750/QAS/24.194.37

Sari, R. C., Sholihin, M., Zuhrohtun, Z., Purnama, I. A., Dewanti, P. W., & Udhma, U. S. (2023). Why are not men and women more alike? Gender and clawbacks in the trade-off between accrual and real activity earnings manipulation. Gender in Management, 38(8), 1117–1134. https://doi.org/10.1108/GM-06-2022-0203

Sayyar, H., Basiruddin, R., Zaleha, S., Rasid, A., & Elhabib, M. A. (2015). The Impact of Audit Quality on Firm Performance: Evidence from Malaysia. Journal of Advanced Review on Scientific Research, 10(1), 1–19.

Sekaran, U., & Bougie, R. (2016). Research methods for business.

Setia-Atmaja, L. Y. (2009). Governance mechanisms and firm value: The impact of ownership concentration and dividends. Corporate Governance: An International Review, 17(6), 694–709. https://doi.org/10.1111/j.1467-8683.2009.00768.x

Setiawan, G., & Nahumury, J. (2014). The effect of board of commissioners, audit committee, and stock ownership concentration on audit report lag of banking companies in Indonesia Stock Exchange. The Indonesian Accounting Review, 4(01), 15. https://doi.org/10.14414/tiar.v4i01.280

Shakina, E., & Molodchik, M. (2014). Intangible-driven value creation: Supporting and obstructing factors. Measuring Business Excellence, 18(3), 87–100. https://doi.org/10.1108/MBE-12-2013-0063

Shakina, E., Molodchik, M., & Barajas, A. (2017). Endogenous value creation: managerial decisions on intangibles. Management Research Review, 40(4), 410–428. https://doi.org/10.1108/MRR-01-2016-0026

Siahaan, F. O. P. (2013). The Effect of Good Corporate Governance Mechanism, Leverage, and Firm Size on Firm Value. GSTF Journal on Business Review, 2(4), 71–79. https://doi.org/10.5176/2010-4804

Simamora, A. J. (2022). Crime rate, real earnings management and managerial ability. Corporate Governance (Bingley), 22(2), 405–423. https://doi.org/10.1108/CG-02-2021-0079

Sisdianto, E., Razimi, M. S. A., Masykur, R., Mei Sari, R. D., & Robiansyah, A. (2023). The Effect of Environmental Performance on Financial Performance with Islamic Corporate Social Responsibility (ICSR) as Intervening Variable. Jurnal Ilmiah Akuntansi, 8(1), 191–205. https://doi.org/10.23887/jia.v8i1.52442

Sumunar, K. I., & Anita. (2022). CEO overconfidence, audit fee, and audit report lag. Jurnal Ilmu Sosial Dan Pendidikan, 6(4), 2849–2861. https://doi.org/10.36312/jisip.v6i4.4184/http

Susbiyani, A., Halim, M., & Animah, A. (2022). Determinants of Islamic social reporting disclosure and its effect on firm’s value. Journal of Islamic Accounting and Business Research, 416–435. https://doi.org/10.1108/JIABR-10-2021-0277

Suwardi, E., & Saragih, A. H. (2023). The effect of tax risk on audit report delay: Empirical evidence from Indonesia. Cogent Business and Management, 10(1). https://doi.org/10.1080/23311975.2023.2192315

Swanson, Z., & Zhang, Y. (2018). Do covenant violations affect audit report timeliness? International Journal of Accounting, Auditing and Performance Evaluation, 14(1), 1–23. https://doi.org/10.1504/IJAAPE.2018.089399

Tarigan, J., Hatane, S. E., Stacia, L., & Widjaja, D. C. (2019). Corporate social responsibility policies and value creation: Does corporate governance and profitability mediate that relationship? Investment Management and Financial Innovations, 16(2), 270–280. https://doi.org/10.21511/imfi.16(2).2019.23

Tenggono, G. I. F., Lasdi, L., & Kristina, N. (2023). The Effect of Corporate Governance Mechanism on Company Value with Earnings Quality as Mediation. In Proceedings of the 4th Asia Pacific Management Research Conference (APMRC 2022). https://doi.org/10.2991/978-94-6463-076-3

Titman, S., & Trueman, B. (1986). Information quality and the valuation of new issues. Journal of Accounting and Economics, 8(2), 159–172. https://doi.org/10.1016/0165-4101(86)90016-9

Toumi, F., Khlif, H., & Khelil, I. (2022). National culture and audit report lag: cross-country investigation. Journal of Economic and Administrative Sciences. https://doi.org/10.1108/jeas-03-2022-0066

Toumi, N., Benkraiem, R., & Hamrouni, A. (2016). Board director disciplinary and cognitive influence on corporate value creation. Corporate Governance (Bingley), 16(3), 564–578. https://doi.org/10.1108/CG-09-2015-0123

Vig, S., & Datta, M. (2021). The impact of corporate governance on sustainable value creation: A case of selected Indian firms. Journal of Sustainable Finance and Investment, 0(0), 1–19. https://doi.org/10.1080/20430795.2021.1923337

Villanueva-Villar, M., Rivo-López, E., & Lago-Peñas, S. (2016). On the relationship between corporate governance and value creation in an economic crisis: Empirical evidence for the Spanish case. BRQ Business Research Quarterly, 19(4), 233–245. https://doi.org/10.1016/j.brq.2016.06.002

Waheed, A., & Mahmood, H. (2022). Corporate governance, litigation risk and firm performance: a mediation moderating model. International Journal of Emerging Markets. https://doi.org/10.1108/IJOEM-02-2022-0320

Wanigasekara W.A.D.K.J., Weligamage S.S., & Karunarathne W.V.A.D. (2019). Measuring Value Creation: Combination of Financial Value Drivers and Non-Financial Value Drivers: a Literature Review. Journal of Accounting and Finance, 05(1), 22–41.

Welch, J. (2019). The Volkswagen recovery: leaving scandal in the dust. Journal of Business Strategy, 40(2), 3–13. https://doi.org/10.1108/JBS-04-2018-0068

Welch, J. (2023). Wells Fargo: a corporate recovery model to bank on. Journal of Business Strategy, 44(5), 247–256. https://doi.org/10.1108/JBS-03-2022-0045

Wellalage, N. H., Kumar, V., Hunjra, A. I., & Al-Faryan, M. A. S. (2022). Environmental performance and firm financing during COVID-19 outbreaks: Evidence from SMEs. Finance Research Letters, 47(PA), 102568. https://doi.org/10.1016/j.frl.2021.102568

Widharma, F., & Susilowati, E. (2020). Auditor Switching, Financial Distress, And Financial Statement Fraud Practices With Audit Report Lag As Intervening Variable. Journal of Accounting and Strategic Finance, 3(2), 243–257.

Winarto, J. (2015). The Determinants of Manufacturer Firm Value in Indonesia Stock Exchange. International Journal of Information, Business and Management, 7(4), 323.  http://ijibm.site666.com/IJIBM_Vol7No4_Nov2015.pdf#page=206

Wright, P., & Ferris, S. P. (1997). Agency conflict and corporate strategy: The effect of divestment on corporate value. Strategic Management Journal, 18(1), 77–83. https://doi.org/10.1002/(sici)1097-0266(199701)18:1<77::aid-smj810>3.3.co;2-i

Wu, W., Peng, F., Shan, Y. G., & Zhang, L. (2020). Litigation risk and firm performance : The effect of internal and external corporate governance. Corporate Governance An International Review, 28(4), 1–30. https://doi.org/10.1111/corg.12319

Yasin, F. M., & Nelson, S. P. (2012). Audit Committee and Internal Audit : International Journal of Economics, Management and Accounting, 20(2), 187–218.

Yudianto, I., Mulyani, S., Fahmi, M., & Winarningsih, S. (2021). The influence of enterprise risk management implementation and internal audit quality on universities performance in Indonesia. Journal of Southwest Jiaotong University, 56(2), 193–217. https://doi.org/10.35741/issn.0258-2724.56.2.13

Yusnia, V., & Kanti, A. (2021). Factors that Influence the Audit Report Lag Among Non-Financial Companies in Indonesia Stock Exchange. Proceedings of the Ninth International Conference on Entrepreneurship and Business Management (ICEBM 2020), 174(Icebm 2020), 135–143. https://doi.org/10.2991/aebmr.k.210507.021


Zeitun, R., & Saleh, A. S. (2015). Dynamic performance, financial leverage and financial crisis: Evidence from GCC countries. EuroMed Journal of Business, 10(2), 147–162. https://doi.org/10.1108/EMJB-08-2014-0022

Zhao, X., Lynch, J. G., & Chen, Q. (2010). Reconsidering Baron and Kenny: Myths and truths about mediation analysis. Journal of Consumer Research, 37(2), 197–206. https://doi.org/10.1086/651257

Zhou, Y., Liu, J., & Lei, D. (2022). The effect of financial reporting regimes on audit report lags and audit fees: evidence from firms cross-listed in the USA. Journal of Financial Reporting and Accounting. https://doi.org/10.1108/JFRA-09-2021-0261

Zoni, L., & Pippo, F. (2017). CFO and finance function: What matters in value creation. Journal of Accounting and Organizational Change, 13(2), 216–238. https://doi.org/10.1108/JAOC-12-2014-0059
citation:   KALBUANA, NAWANG  (2025) PERAN AUDIT REPORT LATE DALAM MEMEDIASI PENGARUH CORPORATE GOVERNANCE MECHANISMS, AUDIT FEE DAN LITIGASI TERHADAP VALUE CREATION.  Doktoral thesis, UNIVERSITAS SULTAN AGENG TIRTAYASA.   
document_url: https://eprints.untirta.ac.id/47610/19/NAWANG%20KALBUANA_7783220004_FULL_TEXT.pdf
document_url: https://eprints.untirta.ac.id/47610/2/NAWANG%20KALBUANA_7783220004_02.pdf
document_url: https://eprints.untirta.ac.id/47610/3/NAWANG%20KALBUANA_7783220004_03.pdf
document_url: https://eprints.untirta.ac.id/47610/4/NAWANG%20KALBUANA_7783220004_04.pdf
document_url: https://eprints.untirta.ac.id/47610/5/NAWANG%20KALBUANA_7783220004_05.pdf
document_url: https://eprints.untirta.ac.id/47610/21/NAWANG%20KALBUANA_7783220004_LAMP.pdf
document_url: https://eprints.untirta.ac.id/47610/22/NAWANG%20KALBUANA_7783220004_REFF.pdf
document_url: https://eprints.untirta.ac.id/47610/26/NAWANG%20KALBUANA_7783220004_01.pdf