Magazine 2017
International Peer-Reviewed Journal
RESEARCH HORIZONS, VOL. 7 SEPT. 2017
THE ABILITY OF BUDGET ADEQUACY
MODERATES THE EFFECT OF BUDGET PARTICIPATION
ON BUDGETARY SLACK
*
Vazria Ulfa Liandini,* Ni Putu Sri Harta Mimba ,
* **
*
Ni Gusti Putu Wirawati , Ni Putu Rediatni Giri
ABSTRACT
This study aims to obtain empirical evidence of the effect of budget participation on budgetary slack
as well as to know how the adequacy of the budget moderates such effect. This study uses The
Agency Theory. The respondents of this study are managers and employees involved in the budgeting
process at 126 construction companies in Denpasar City. Using the purposive sampling tehnique, 39
construction companies are chosen. Questionnaire is used for data collection method. Data analysis
technique used is the simple linear regression analysis and Moderated Regression Analysis (MRA).
The results of this study show that budgetary participation has a significant positive effect on budgetary
slack. The variable of the adequacy of budget weakens the influence of budgetary participation on
budgetary slack.
Keywords: the adequacy of budget, budget participation, budgetary slack
INTRODUCTION
Budget is the element of management control system that serves as planning and control tools so that
managers can carry out the organization’s activities more effectively and efficiently (Schief and Lewin, 1970;
Welsch, Hilton and Gordon, 1996; Ikhsan and Ane, 2007). As a planning tool, the budget is an action plan
that consists of a number of targets to be achieved by the department manager of a company in carrying out
a series of specific activities in the future. While as a means of control, budget plays a role in terms of
performance assessment managers to see the extent to which managers can achieve the targets set in the
budget.
Baiman (1982) says that budget participation will provide the opportunity for employers to gain access to
local information that allows subordinates to inform private information they have. Budget participation can
also lead to dysfunctional behavior, such as the tendency of managers to create a budgetary slack. Efforts in
making a budgetary slack is done by raising costs or degrading revenue from their optimal level in order to
achieve budget targets easier.
The theory underlying the concept of budgetary slack is agency theory (agency theory). Agency theory is a
concept that describes the relationship between the party giving the mandate (principal) and the parties do
all the activities on behalf of the principal (the agent) as decision makers.
Research on the relationship between budgetary participation and budgetary slack has been conducted, but
the studies still show inconsistent results. Research conducted by Onsi (1973), Camman (1976), Baiman
(
1982), Merchant (1985), Dunk (1993), Kristianto (2009), and Sugiwardani (2012) show that the participation
of the budget reduces the amount of budgetary slack. However, the results of research conducted by Lowe
and Shaw (1968), Young (1985), Antie and Eppen (1985), Lukka (1988) , Asriningati (2006), Falikhatun (2007),
Ikhsan and Ane (2007), Infallible (2009) and Kartika (2010) indicates that the subordinate participation in the
preparation of the budget will increase budgetary slack. This means that the subordinates do not provide
proper information in the preparation of the budget. Hence, this reduces the accuracy in the preparation of
the budget.
These inconsistency results is the motivation of this study. Govindarajan (1986) suggests that the difference
in results can be further studied using the contingency approach. This is done by adding another variable
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RESEARCH HORIZONS, VOL. 7 SEPT. 2017
that may have an influence on the effect of budget participation on budgetary slack, such as the adequacy of
the budget. The budget adequacy is the level of individual perception that the budgeted resources are
sufficient to carry out the required activities (Supriyono 2004 in Indarto and Stephana, 2011).
Research conducted by Paters (1980) in Indarto and Stephana (2011) finds the adequacy of budget as one
of the situational factors that will affect managerial performance. The managers and employees who have
adequate budgetary support will be able to achieve a higher performance than those without sufficient
budgetary support.
This study uses the construction companies in Bali, because this sector has a relatively big role in stimulating
national development in Indonesia. In 2014, the construction sector was the leading sector for the economy
of Indonesia (BPS Bali, 2014). In addition, the construction company in the city of Denpasar selected as
research sites is also due to industrial development in Denpasar as the use of services of construction
contractors is growing, as shown in Table 1.
Table 1.
Number of Company / Business Sector Construction of Bali Province
Year 2013 - 2014
District/City
Number of Company / Business Sector
Construction of Bali Province
2
013
2014
Jembrana
Tabanan
Badung
Gianyar
Klungkung
Bangli
Karangasem
Buleleng
Denpasar
Jumlah
106
130
187
232
182
213
263
221
345
109
168
236
248
191
221
280
225
417
2095
1879
Source : Central Bureau of Statistics, 2014
Table 1 shows that in 2014, Denpasar City has the largest number of construction companies compared with
other districts in Bali. The number of construction companies are legal entities including CV, PT, Firma,
cooperatives, and others. A large number of business entities that offer construction services as shown in
Table 1, indicate a fairly strong competition between providers of construction services in the city of Denpasar.
With the existence of such competition, the construction company would further improve its performance,
including in terms of budgeting so that corporate objectives can be achieved more effectively and efficiently.
Budget preparation activities at construction companies is very significant for the implementation of construction
projects that require a very high cost and not least so that the construction company was selected as the
object in this study. Construction companies listed in the National Construction Contractors Association of
Indonesia (GAPENSI) in Denpasar in 2014 had the highest proportion compared to other regencies / cities,
namely 39 companies were incorporated Limited Liability Company (PT).
Onsi research results (1973), Camman (1976), and Merchant (1985) shows that participation in budget
preparation can reduce the number of budgetary slack. This happens because subordinates help provide
personal information about future prospects so that the budget is prepared to be more accurate. When
subordinates are given the opportunity to participate in the budgeting process, then subordinates have the
opportunity to create a budgetary slack. Falikhatun (2007) and Asriningati (2006) also argue that the
participation budgeting has a significant positive effect on budgetary slack. Based on the above discussion,
then the hypothesis of this study can be formulated as follows:
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RESEARCH HORIZONS, VOL. 7 SEPT. 2017
H1: Participation budget has a positive effect on budgetary slack.
The budget adequacy is the degree to which a person feels that the sources of the budget is enough or
sufficient to meet requirements in the field of work, where the subordinates have information that is influential
in terms of the level of budget support desired to complete the tasks in their field of work (Nouri and Parker,
1
998). Hariyanti (2002) explains that better information about the adequacy of the budget that you want to
carry out his duties owned by subordinates and they will try to incorporate this information into the budget to
ensure that they have the resources sufficient to carry out their tasks with success, so that the budgeting
participation subordinates will provide information about the level of budgetary resources that are adequate.
Managers and employees with the support of sufficient or adequate budgets generally have better performance
than those that are not supported by a sufficient budget.
Based on the research results of Nouri and Parker (1998) in Ikhsan and Ane (2007), budget participation has
a positive relationship with the adequacy of budget and indirectly affects the relationship of budget
participation. With the participation in the preparation of anggaran, subordinates will provide information
about the level of budgetary resources which are adequate. Ikhsan research and Ane (2007) showed that the
adequacy of the budget is the pure moderator in the relationship between budgetary participation and
budgetary slack, which means that the budgetary participation and budget adequacy jointly affect budgetary
slack. Based on the above, then the hypothesis in this study can be formulated as follows:
H2: Budget adequacy weakens the influence of budget participation on budgetary slack.
Research Method
This study uses a qualitative associative approach and was conducted at construction companies in Denpasar.
A large number of business entities that offer construction services lead to fairly a strong competition between
providers of construction services in the city of Denpasar. Having such a tight competition, the construction
companies would further improve their performance, including in terms of budgeting. Hence, their objectives
can be achieved more effectively and efficiently.
This study uses independent, dependent and moderating variables. Budgetary slack is used in this study as
the dependent variable. Budgetary slack is the difference between the budget amount reported by
subordinates with a budget amount that corresponds to the company’s best estimate. Questionnaire consists
of the following five indicators: standard in the budget, budget execution, budget constraints, the target of a
tight budget and budget efficiency level.
The independent variable in this study is budget participation that refers to the participation of many parties
in a budgeting process. Answer is measured using a Likert scale. This instrument was developed by Ryadi
(
2015) which consists of five indicators, namely involvement in budgeting, in the opinion of budgeting,
influence the final outcome budget, contributions in budgeting and request the opinion of the leadership.
The moderating variable is the budget adequacy, which refers to the adequacy of the budget is the level of
one’s perception of the amount of budgetary resources owned in meeting all the activities undertaken to
achieve a goal. Questionnaires are measured using a Likert Scale. This instrument was developed by Hariyanti
(
2002) which consists of three indicators, namely: the influence of the budget in completion of work,
achievement of the objectives with the available budget and confidence completion of tasks within the budget
available.
The data used in this research is quantitative data. Quantitative data obtained from qualitative data is quantified
with the aid of a questionnaire which refers to the measurement of the variables used. The data used in this
study is primary data and secondary data. Primary data in this study was obtained from the respondents to
each question in the questionnaire. Secondary data in this research is data construction company in the city
of Denpasar accessed from the publication of the Central Statistics Agency (BPS) in 2014.
The population in this study are all managers and employees involved in the budgeting process at 126
construction companies in the city of Denpasar. Using the purposive sampling technique, samples used in
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RESEARCH HORIZONS, VOL. 7 SEPT. 2017
this study are employees and finance managers who are involved in the budgeting process from 39
construction companies who have held their current position for at least two years, to assure that they have
sufficient experiences in budgeting. Construction companies in this study are the construction companies
incorporated in the Joint Implementation of National Construction (GAPENSI) Denpasar and are still active.
The simple linear regression analysis is used to test the effect of budgetary participation on budgetary slack.
Moderation regression analysis is used to test the moderating variables, namely the adequacy of the budget
in relation to budgetary participation and budgetary slack. In addition, this study has also done validity test,
reliability test, classic assumption test, test the coefficient of determination, significant test F and partial test
(
t test).
Results
The characteristics of respondents examined included gender, education, length of service and job title.
Table 2 shows that the number of observations (N) in this study are 84.
Table 2.
Descriptive Statistics Analysis Result
Variabel
N
84
84
84
Min.
5,00
3,00
5,00
Max.
21,34
13,58
21,76
Mean
17,44
10,62
17,03
Std. Deviasi
4,34
Budget Participation (X1)
Budget Adequacy (X2)
Budgetary Slack (Y)
2,53
3,87
Source: Data processed, 2016
Validity test is used to measure the validity of questionnaires. An instrument is said to be valid if the correlation
coefficient (r) calculate that value is greater than r table, namely above 0.3 (r> 0.3). Validity test results in
Table 3 indicate that all variables have a correlation coefficient with the total score of the entire item statement
greater than 0.30.
Table 3.
Validation Test Result
Kode
Instrumen
X1.1
X1.2
X1.3
X1.4
X1.5
X2.1
X2.2
X2.3
Y1
Nilai Pearson
Correlation
0,901
Variabel
Budget Participation (X1)
Keterangan
Valid
0,939
0,953
0,944
0,960
0,943
0,977
0,974
0,949
Valid
Valid
Valid
Valid
Valid
Valid
Valid
Valid
Budget Adequacy (X2)
Budgetary Slack (Y)
Y2
0,933
Valid
Y3
0,961
Valid
Y4
0,918
Valid
Y5
0,905
Valid
Source : Data processed, 2016
The reliability test shows that a measurement can provide consistent results when the measurements are
done with the same symptoms. Instrument used is called reliable if the Cronbach’s Alpha coefficients> 0.60.
Based on the reliability test results presented in Table 4, it can be concluded variables used in this study are
reliable which can be seen from Cronbach’s Alpha value of each variable which is greater than 0.60.
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RESEARCH HORIZONS, VOL. 7 SEPT. 2017
Table 4.
Realibilaty Test Result
Variabel
Cronbach’s Alpha
0,967
Keterangan
Reliable
Reliable
Budget Participation (X1)
Budget Adequacy (X2)
Budgetary Slack (Y)
0,962
0,963
Reliable
Source: Data processed, 2016
Prior to the regression analysis, a regression model must pass the test of classic assumptions, as shown in
Table 5. Both the regression model in this study meet the test of normality and normal distribution because
the value Asymp. Sig. is greater than 0.05.
Table 5.
Normality Test Result
No
1
2
Persamaan
Z
Asymp. Sig.
0,068
Y = á + â X + å
0,093
0,097
1
.
1
Y = á + â X + â X + â (X X ) + å
0,052
1
.
1
2.
2
3
1.
2
Source: Data processed, 2016
Heteroskedasticity test aims to test whether the regression model occurred inequality residual variance from
one observation to another observation. Based on Table 6 above it can be seen, the significant value of each
variable in the second regression model value is greater than 0.05. This shows that both the regression
model is free of symptoms heterokedastisitas.
Table 6.
Heteroskedastisity Test Result
No
1
2
Similarity
Y = a + b X + e
Y = á + â X + â X + â (X X ) + å
Variable
X1
X1
X2
X1X2
t
Sig.
-1,679
0,076
-1,242
-0,530
0,097
0,940
0,218
0,598
1
1
1
.
1
2.
2
3
1.
2
Source: Data processed, 2016
This study uses a simple linear regression analysis and Moderated Regression Analysis (MRA) to determine
the extent to which the relationship between the independent variable on the dependent variable are shown
in Table 7 for a simple linear regression analysis and Table 8 for Moderated Regression analysis (MRA).
Table 7.
Simple Linear Regression Analysis
Variabel
Unstandardized
Coefficients
B
Standardized
Coefficients
Beta
t
Sig
Std. Error
1,115
(
Constant)
4,958
0,692
4,447
11,156
0,000
0,000
X1
0,062
0,776
Adjusted R Square
F hitung
Sig F hitung
0,598
124,464
0,000
Source : Data processed, 2016
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RESEARCH HORIZONS, VOL. 7 SEPT. 2017
Based on Table 7 above, the regression equation is as follows:
Y = 4,958+ 0,692X ..........................................................(1)
1
Constant value (á) of 4.958 means that if the variable is declared constant budget participation at 0, then the
value of budgetary slack is equal to 4.958. The regression coefficient (â) in the variable participation budget
is of 0,692. The regression coefficient is positive, meaning if the participation of the budget increased by one
unit, then the budgetary slack will increase by 0,692 units.
Table 8.
Moderated Regression Analysis (MRA)
Variabel
Unstandardized
Coefficients
B
Standardized
Coefficients
Beta
t
Sig
Std. Error
2,472
(
Constant)
-1,916
0,914
1,330
-0,057
-0,775
4,257
3,709
-2,657
0,440
0,000
0,000
0,010
X1
X2
X1*X2
0,215
0,359
0,022
1,026
0,871
-1,048
Adjusted R Square
F hitung
Signifikansi F
0,651
52,667
0,000
Source : Data processed, 2016
Based on Table 8 above, the regression equation is as follows:
Y = -1,916 + 0,914X + 1,330X - 0,057(X .X )...................... (2)
1
2
1
2
The constant value of -1.916 indicates that if the participation of the budget (X1) and the adequacy of the
budgets (X2) equal to zero, then the value of budgetary slack will decrease by approximately -1.916. The
regression coefficient budget participation (b1) of 0.914 indicates if the role of budgetary participation increases
by one unit, it will result in an increase in the budgetary slack (Y) amounting to 0.914 units, assuming other
variables are equal to zero.
The regression coefficient budget (b2) of 1.330 indicates if the role of the adequacy of the budget is increased
by one unit, it will result in an increase in the budgetary slack (Y) amounted to 1,330 units, assuming other
variables are equal to zero. X1.X2 moderate coefficient value (b3) of -0.057 indicates that every interaction
the role of budgetary participation and adequacy of the budget increased by one unit will lead to a reduction
in budgetary slack amounted to 0.057 units.
The coefficient of determination (R2) aims to measure the ability of the model to explain variations in the
dependent variable. The results adjusted R square in Equation 1 is 0.598. It shows that 60% of budgetary
slack variation can be explained by the participation of the budget, while the remaining 40% is explained by
other variables outside the model. The results adjusted R square in Equation 2 is 0.651. This shows that 65%
of budgetary slack variation can be explained by the participation of the budget as well as moderated by the
variable adequacy of the budget, while the remaining 35% is explained by other variables outside the model.
F test results indicates that the calculated F value of 52.667 with significant F or p-value of 0.0000 which is
smaller than the value = 0.05, then the simple linear regression model is fit for use as an analytical tool to
examine the independent variables and the dependent moderation variable.
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Table 7 shows that the value of b1 is 0,692 and the level of significance for variable budget participation of
.000. 0,000 value is smaller than 0.05 which indicates that participation variable budget has significant
RESEARCH HORIZONS, VOL. 7 SEPT. 2017
0
positive effect on budgetary slack. This indicates that the participation of the budget will significantly increase
budgetary slack, so the first hypothesis in this study may be accepted. Hence, this study finds that the higher
the level of participation in the budgeting process at a construction company, the potential for the creation of
budgetary slack will be higher.
Based on the calculation results shown in Table 7, it is known that the value of b3 is -0.057 and significance
level of 0,010. 0,010 value smaller than 0.05 indicates that the variable budget adequacy has a negative
effect on the relationship of budget participation on budgetary slack. This indicates that in this study the
adequacy of the budget weakens the relationship between budgetary participation on budgetary slack because
it has a coefficient (b3) which is negative.
The success of an organization depends on the circumstances in which the budget is able to support
operational activities. Adequacy of the budget is able to carry out activities within the organization properly if
the fulfillment of budgetary resources is required. Managers and employees with the support of sufficient or
adequate budgets generally have better performance than those that are not supported by a sufficient budget.
The results of this study are supported by a previous study conducted by Ikhsan and Ane (2007) and Kosasih
(
2013) which states that the adequacy of the budget moderating influence of budget participation with
budgetary slack.
Conclusions and Recommendations
Based on the previous discussions, it can be concluded that there is a significant positive effect of budget
participation on budgetary slack. Variable budget adequacy weakens the influence of budget participation
on budgetary slack. This means that the higher level of the budget adequacy of construction companies, it
will be more possible to reduce the occurrence of budgetary slack through the process of budget participation.
Advice that can be proposed for construction companies is that the budgetary slack should be controlled by
the parties who are involved in the budgeting process to improve the planning and control activities. Managers
must take into consideration the possibility of budgetary slack by implementing policies that can increse the
employees’ commitment to achieve the goals and values of the company.
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*Faculty of Economics and Business, ** Faculty of Economics, University of Udayana (Unud), Bali,
Indonesia. Email:[email protected]; [email protected]
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