Owner : Riset dan Jurnal Akuntansi

Keputusan Manajerial, Pengungkapan Emisi Karbon, dan Nilai Perusahaan: Peran Kualitas Audit

2026-03-19T06:11:01+00:00

This study aims to examine the effect of managerial decisions and carbon emission disclosure on firm value, with audit quality as a moderating variable in Basic Materials sector companies listed on the Indonesia Stock Exchange during the 2020–2024 period. The study is motivated by the increasing importance of environmental issues and corporate transparency in influencing investor assessments. Using purposive sampling, this study obtained a sample of 11 firms and employed secondary data from annual reports and sustainability reports. Data were analyzed using Moderated Regression Analysis (MRA) with EViews 14. The results show that managerial decisions have a significant effect on firm value, supporting signaling theory which suggests that investment decisions act as positive signals regarding future growth prospects. In contrast, carbon emission disclosure does not significantly affect firm value, indicating that, in line with stakeholder theory, environmental information has not yet become a primary consideration for investors in emerging markets. Furthermore, audit quality strengthens the relationship between managerial decisions and firm value, consistent with agency theory, as high-quality audits enhance information credibility and reduce information asymmetry. However, audit quality does not moderate the relationship between carbon emission disclosure and firm value, suggesting that the credibility of non-financial information is still limited. Overall, these findings indicate that internal factors, particularly managerial decisions and audit quality, play a more dominant role in determining firm value than environmental disclosure.

Pengaruh Sales Growth, Leverage, dan Efisiensi Operasional terhadap Kinerja Keuangan Perusahaan Transportasi dan Logistik

2026-05-06T08:23:16+00:00

The transportation and logistics sector plays a strategic role in supporting mobility, national distribution, and overall economic activity. However, firms in this sector continue to face rising operating costs, supply chain disruptions, and inflationary pressures that may affect their financial performance. This study aims to analyze the effects of sales growth, leverage, and operational efficiency on the financial performance of transportation and logistics companies listed on the Indonesia Stock Exchange during the 2021–2024 period. This research employs a quantitative explanatory approach using secondary data obtained from the annual reports of sample companies. The sample was selected through purposive sampling, resulting in 28 companies with a total of 112 observations. Data were analyzed using panel data regression with EViews 13. Based on the model selection results, this study employs the Common Effect Model (CEM) with White cross-section robust standard errors. The findings show that sales growth, leverage, and operational efficiency simultaneously have a significant effect on financial performance. However, partially, sales growth, leverage, and operational efficiency do not have a significant effect on financial performance. These results indicate that the financial performance of the transportation and logistics sector is more influenced by external factors, such as market conditions, industry competition, and fuel price fluctuations, rather than internal factors within the company. Therefore, companies should focus more on business strategies that address these external factors in order to improve their financial performance in the future.

Algorithmic Personalization and Impulse Buying in Social Commerce: The Mediating Role of Hedonic Value under the S-O-R Framework

2026-03-27T13:43:33+00:00

The rapid expansion of social commerce, particularly TikTok Shop, has intensified the role of algorithmic personalization in shaping consumer behavior, yet its affective mechanisms remain insufficiently examined, especially in emerging markets. Prior studies largely focus on general digital stimuli, leaving a limited understanding of how algorithm-driven personalization specifically triggers impulse buying through emotional processes. Drawing on the Stimulus–Organism–Response (S-O-R) framework, this study investigates the effect of algorithmic personalization on impulse buying, with hedonic value as a mediating variable. This study contributes by extending the S-O-R framework into algorithm-driven social commerce by empirically validating the mediating role of hedonic value in AI-personalized environments. Using survey data from 150 active TikTok Shop users, the study employs regression-based mediation analysis with SPSS. The results indicate that algorithmic personalization significantly affects hedonic value (? = 0.62, p < 0.001) and impulse buying (? = 0.41, p < 0.001), while hedonic value also significantly influences impulse buying (? = 0.47, p < 0.001). The model explains 53% of the variance in impulse buying (R² = 0.53), with mediation analysis confirming a partial mediating effect of hedonic value (p < 0.001). These findings demonstrate that algorithmic personalization operates not only as a cognitive trigger but also as an affective driver that enhances hedonic experiences, thereby increasing impulsive purchasing behavior. This study extends the S-O-R framework in algorithm-driven commerce and provides actionable insights for optimizing personalization strategies in social commerce platforms.

How ESG Disclosure and Political Connections Effect Firm Value? Evidence on Indonesia Non-Financial Companies

2026-04-27T19:09:16+00:00

This study examines the effect of environmental, social, and governance (ESG) disclosure, along with political connection, on firm value. The sample consists of non-financial companies listed on the Indonesia Stock Exchange during the period 2019 to 2023. The research sample was determined using purposive sampling, based on specific criteria, resulting in 145 observations from 29 companies. Data analysis was conducted using panel regression techniques for hypothesis testing, processed with EViews 12 software. The findings reveal that ESG disclosure and political connection simultaneously have a significant effect on firm value. However, the partial analysis indicates that only environmental disclosure has a significant negative impact on firm value. These results implies that companies should exercise caution when disclosing environmental information, as it can trigger a negative response from investors who perceive it as a cost burden. Meanwhile, social disclosure, governance disclosure, and political connection partialy show no significant effect on firm value. Furthermore, it is recommended to examine other independent variables, such as financial aspects that have the potential to influence firm value. Practical suggestion of this research is companies should adpot more operational and strategic approach in managing environmental costs that need to be integrated into long-term business strategies and linked directly to efficiency improvement.

A Moderating Role Of Good Governance in the Relationship Between Carbon Emission Disclosure, Green Innovation, Eco-Efficiency, ESG, and Firm Value in Energy Sector

2026-03-30T11:27:24+00:00

This study examines the effect of carbon emission disclosure, green innovation, eco-efficiency, and environmental, social, and governance (ESG) on firm value, with good corporate governance as a moderating variable, in energy sector companies listed on the Indonesia Stock Exchange during the 2021–2024 period. A quantitative approach was employed using secondary data derived from annual and sustainability reports. The sample was selected through purposive sampling, resulting in 108 firm-year observations after outlier removal. Data were analyzed using panel data regression and Moderated Regression Analysis (MRA), preceded by model selection and classical assumption tests. Firm value was measured using Tobin’s Q, while carbon emission disclosure, green innovation, eco-efficiency, and ESG were proxied using respective sustainability indicators. Good corporate governance was measured by institutional ownership. The partial test results indicate that carbon emission disclosure has a positive and significant effect on firm value (p < 0.01). In contrast, green innovation has a negative and significant effect (p < 0.01), and ESG also shows a negative and significant effect (p < 0.05), while eco-efficiency does not have a significant effect (p > 0.05). The model explains 7.6% of the variation in firm value (R² = 0.076). These findings suggest that sustainability practices do not uniformly enhance firm value, particularly in the short term, and highlight the importance of governance quality in strengthening sustainability strategies in emerging markets..

Pengaruh perubahan aturan pada hubungan Akrual Diskresioner Positif dan Negatif Terhadap Penundaan Pelaporan Keuangan Perbankan

2026-04-27T19:18:30+00:00

ABSTRACT

This study examines the impact of regulatory changes on financial reporting delays with earnings management moderated by the COVID-19 pandemic in Indonesia. This quantitative study is based on the study population, namely all 47 banking companies, while the research sample listed on the Indonesia Stock Exchange in 2020-2024 amounted to 35 (175) companies in the research period from 2020 to 2024. This study uses purposive sampling as a data collection method, the data used are the financial statements of banking companies listed on the Indonesia Stock Exchange in 2020-2024. This study uses earnings management variables that use positive and negative earnings management, variables of financial reporting delays, COVID-19 conditions, company size and ROA ratio. The study was tested using multiple regression with SPSS27 test tool, the results of this test indicate that Positive Discretionary Accruals have a positive effect on Financial Reporting Delays, Negative Discretionary Accruals have no effect on Financial Reporting Delays, Positive Discretionary Accruals moderated by the COVID-19 variable have a positive effect on Financial Reporting Delays, and Negative Discretionary Accruals moderated by the COVID-19 variable have no effect on Financial Reporting Delays. The results of the study indicate that the decline in profits during the pandemic is considered normal due to sluggish macroeconomic conditions. Therefore, the interaction between the crisis and negative earnings management does not trigger significant audit delays.

Keywords: Banking Company; Financial Reporting Delays; Negative Discretionary Accruals; Positive Discretionary; Accruals;.

Earnings Management in JII Firms: Does Audit Quality Moderate CSR, Ownership, and Leverage?

2026-04-05T03:05:45+00:00

The existence of earnings management practices remains a phenomenon among companies listed in the Jakarta Islamic Index (JII). This condition indicates that the presentation of financial information does not fully reflect actual performance, potentially affecting the quality of decisions made by stakeholders. The purpose of this study is to examine the effect of corporate social responsibility (CSR), managerial ownership, and leverage on earnings management, with audit quality as a moderating variable. The research sample consists of 17 companies consistently listed in the Jakarta Islamic Index (JII) during the 2021–2024 period, resulting in 68 firm-year observations. Secondary data were obtained from annual and sustainability reports, then analyzed using panel data regression and Moderated Regression Analysis (MRA) with EViews 12 software. The results show that CSR has a positive and significant effect on earnings management, while managerial ownership and leverage do not show significant effects. Furthermore, audit quality does not moderate the relationship between the independent variables and earnings management. The novelty of this research lies in examining the moderating role of audit quality in the relationship between governance mechanisms and earnings management in companies included in the JII, using data from the post-economic recovery period. This study contributes to strengthening empirical evidence regarding the limitations of the effectiveness of governance mechanisms in curbing earnings management practices in the context of the Sharia capital market.

Pengaruh Digital Banking dan Fintech Payment terhadap Kinerja Keuangan Bank BUMN dan Bank Non-BUMN

2026-05-06T08:26:59+00:00

This study aims to analyze the effects of digital banking and fintech payments on the financial performance of banks in Indonesia and to examine differences in these effects between state-owned banks (BUMN) and non-state-owned banks (non-BUMN). This study employs a panel data regression method on banks listed on the Indonesia Stock Exchange, with a total sample of 230 observations during the study period. The overall results indicate that digital banking has a significant effect on Return on Assets (ROA), Return on Equity (ROE), and Operating Expenses to Operating Income (BOPO). In contrast, fintech payment does not have a significant effect on all proxies of financial performance. Further results show that digital banking and fintech payments do not have a significant effect on the financial performance of state-owned banks. In contrast, for non-state-owned banks, digital banking is proven to have a significant effect on all proxies of financial performance. Meanwhile, fintech payment remains insignificant in both groups. These findings indicate that the effectiveness of digital transformation is highly dependent on an organization’s ability to integrate digital resources into strategic capabilities, suggesting that ownership structure moderates the relationship between digitalization and banking financial performance. This study implies that the success of digital transformation in banking depends not merely on technology adoption but on strategic integration and internal capabilities. These findings also open opportunities for future research to examine the role of digital transformation maturity and organizational factors in moderating financial performance.

Keywords: BUMN bank, Digital banking; fintech payment; financial performance; non-BUMN bank

Nilai Budaya dan Kinerja Environmental, Social, Governance (ESG) : A Systematic Literature Review

2026-04-10T05:02:30+00:00

This study presents a Systematic Literature Review (SLR) examining the interplay between culture and governance in shaping Environmental, Social, and Governance (ESG) practices across corporate, community, and societal contexts. A total of 41 relevant articles published between 2015–2025 were synthesized to map how cultural values function as informal governance that moderates, mediates, or reinforces sustainability implementation and performance. The review identifies five primary cultural influence pathways: board and organizational culture, national traditions and collective values, innovation and digital culture, local wisdom and social capital, as well as investor perception shaped by cultural context. These mechanisms significantly impact ESG disclosure quality, long-term decision-making, stakeholder legitimacy, and environmental innovation, although the effects vary across institutional settings. The findings reveal research gaps related to fragmented scholarly approaches, inconsistent outcomes on cultural diversity, and the absence of multi-level integrated models. This study highlights culture as a foundational mechanism in sustainability governance beyond regulatory compliance and encourages future studies to develop longitudinal, mixed-method, and cross-country comparative frameworks.

Perilaku Pengelolaan Keuangan Mahasiswa Kost UMS: Peran Mental Accounting, Self-Control dan Moderasi Literasi Keuangan

2026-05-05T13:30:11+00:00

This study examines how mental accounting and self-control affect the financial management behavior of university students living in boarding houses. It also tests whether financial literacy moderates these relationships. A quantitative causal-associative approach was used. Data came from 136 students at Universitas Muhammadiyah Surakarta (UMS) who live in boarding houses and manage their own money. The data were collected through both online and paper-based questionnaires. Analysis used Partial Least Squares-Structural Equation Modeling (PLS-SEM) with SmartPLS software. The results show two main findings. First, mental accounting and self-control each have a positive and significant effect on students' financial management behavior. Second, financial literacy directly influences financial management behavior. However, financial literacy does not act as a moderator. It does not strengthen or weaken the link between mental accounting and financial behavior, nor between self-control and financial behavior. The model explains 71.4% of the variance in financial management behavior (R² = 0.714). These findings point to a knowledge-to-action gap. Students' financial decisions rely more on self-regulation and practical survival strategies than on formal financial knowledge. The study suggests that financial education programs should focus less on theory and more on real-life application and behavioral training.

Keywords: Financial management behavior, mental accounting, self-control, financial literacy, boarding students

Digital Stakeholder Engagement in Social Media: Toward an Integrative Conceptual Framework

2026-04-10T05:12:58+00:00

ABSTRACT

The rapid development of digital technology has transformed how organizations communicate and build relationships with stakeholders. This study aims to examine how social media and digital platforms are used in stakeholder engagement, the factors influencing the quality of digital stakeholder engagement, and the outcomes generated for organizations and stakeholders. This study employed a Systematic Literature Review (SLR) approach using the PRISMA guideline to ensure a transparent and structured review process. The population consisted of academic journal articles discussing stakeholder engagement in the context of social media and digital platforms. Using purposive sampling based on predetermined inclusion and exclusion criteria, 22 peer-reviewed journal articles published between 2021 and 2026 were selected from Emerald Insight, ScienceDirect, MDPI, Taylor & Francis, Springer, and Wiley Online Library, supported by Google Scholar and Publish or Perish. The selected articles were analyzed using qualitative thematic analysis. The findings indicate that social media and digital platforms are primarily used as tools for communication, interaction, and stakeholder participation. The quality of digital stakeholder engagement is influenced by content characteristics, message authenticity, platform type, and organizational digital capabilities. In addition, digital stakeholder engagement produces both positive and negative outcomes, including trust, reputation, participation, transparency, skepticism, and stakeholder polarization. This study concludes that stakeholder engagement in the digital era is a multidimensional phenomenon that requires strategic communication management and offers an integrated understanding of stakeholder relations in digital environments.

Keywords: communication management; digital platforms; organizational communication; social media; stakeholder relations

Pengaruh Environmental Social and Governance (ESG) Disclosure dan Sustainability Committe Terhadap Nilai Perusahaan

2026-05-06T01:17:25+00:00

This study aims to examine the effect of Environmental, Social, and Governance (ESG) disclosure and the existence of a sustainability committee on firm value in energy sector companies listed on the Indonesia Stock Exchange during the 2022–2024 period. The population consists of all energy sector companies, with samples selected using purposive sampling based on specific criteria, resulting in 26 companies with a total of 78 observations. This research employs a quantitative approach using secondary data obtained from annual and sustainability reports. Data analysis is conducted using multiple linear regression with SPSS, along with classical assumption tests including normality, multicollinearity, heteroscedasticity, and autocorrelation tests. The results show that ESG disclosure has a negative and significant effect on firm value, indicating that the market may perceive ESG practices as a cost burden or question their credibility. In contrast, the sustainability committee has a positive and significant effect on firm value, suggesting that stronger governance mechanisms enhance investor confidence and improve firm valuation. Simultaneously, both variables significantly influence firm value, although the model explains a limited proportion of variance. In conclusion, ESG disclosure alone is not sufficient to increase firm value without credible governance support, while the presence of a sustainability committee plays an important role in strengthening the effectiveness of sustainability practices and enhancing firm value.

Systematic Literature Review: Relevansi Kode Etik Profesi Auditor di Era Artificial Intelligence

2026-04-10T05:01:46+00:00

The increasing use of artificial intelligence (AI) in auditing practices is driven by growing data complexity and volume, yet its adoption also raises ethical challenges related to algorithmic transparency, technological bias, data confidentiality, and auditor accountability. This study employs a systematic literature review approach with meta-interpretation technique and a deontological perspective to evaluate the relevance of the five IESBA ethical principles-integrity, objectivity, professional competence and due care, confidentiality, and professional behavior-in AI-based audit environments. Literature searches were conducted through Google Scholar, Scopus, and ScienceDirect using the Publish or Perish application for the period 2018–2025. A total of 1,159 articles were identified, and after an inclusion-exclusion filtering process, 29 articles met the eligibility criteria. The findings indicate that these ethical principles remain normatively relevant as the foundation of the auditing profession; however, their application becomes increasingly ambiguous in AI-based auditing practice. Practical ethical issues such as algorithmic bias, lack of transparency, and risk of data leakage threaten auditor integrity, objectivity, and accountability. Furthermore, the absence of explicit regulations amplifies uncertainty regarding professional responsibility. Therefore, clarification of operational implementation, enhancement of auditors' technological competence, and strengthening of professional judgment over AI system outputs are necessary. This study concludes that the IESBA Code of Ethics does not require replacement of its fundamental principles, but rather clearer application guidance and regulatory support to ensure that AI-based auditing practices in the digital era remain ethical and trustworthy.

The Effects of Audit Fees, Audit Rotation, and Audit Tenure on Audit Quality, wirh the Audit Committee as a Moderator

2026-05-06T08:18:21+00:00

This study examines the effects of audit fees, audit rotation, and audit tenure on audit quality, with the audit committee as a moderating variable and leverage and firm size as control variables. The research employs a quantitative approach using secondary data from 50 energy sector companies listed on the Indonesia Stock Exchange (IDX) for the period 2022–2024, resulting in 150 observation samples selected through purposive sampling. Multiple linear regression analysis was used to test the hypotheses. The results indicate that audit fees, audit rotation, and audit tenure each have a positive and significant effect on audit quality, suggesting that proportional fee-setting, periodic auditor rotation, and a measured engagement period contribute to improved audit quality. Leverage also has a significant effect on audit quality, while firm size exhibits a significant negative effect, reflecting the complexity challenges that large companies pose for auditors. With respect to moderation, the audit committee strengthens the relationship between audit fees and audit quality, but weakens the relationships between audit rotation and audit tenure with audit quality, implying that overly intensive oversight may be counterproductive under certain conditions. These findings reaffirm the relevance of agency theory in explaining the importance of effective governance mechanisms in maintaining audit quality in the energy sector

Pengaruh Operational Complexity, Institutional Ownership, Leverage, dan Firm Size Terhadap Audit Report Lag pada Sektor Property & Real Estate

2026-02-14T03:46:06+00:00

This research investigates the impact of operational complexity, institutional ownership, leverage, and firm size on audit report lag among property and real estate firms listed on the Indonesia Stock Exchange from 2021–2024. The prompt delivery of financial statements holds vital importance for stakeholders, although numerous sector-specific elements frequently result in substantial audit delays. Employing a quantitative methodology and purposive sampling, the study yields 285 observations derived from audited annual financial reports. Binary logistic regression analysis, conducted via SPSS version 25 software, assesses the likelihood of audit report lag occurrences. Findings reveal that institutional ownership exerts has a significant negative effect on audit report lag, indicating that higher institutional ownership strengthens the monitoring function and leads to faster audit completion. Conversely, leverage has a significant positive effect, suggesting that higher debt levels increase financial risk and require more extensive audit procedures, thus extending the audit process. Meanwhile, operational complexity and firm size exhibit no significant effects. Overall, audit report lag in the property and real estate sector is more strongly influenced by ownership structure and financial risk than by operational complexity or company size.

Pengaruh ESG dan Green Innovation terhadap Nilai Perusahaan: Analisis Data Panel dengan Peran Mediasi Kinerja Keuangan pada Sektor Energi

2026-04-13T07:59:10+00:00

This study examines the effect of ESG and green innovation on firm value, with financial performance as a mediating variable in the energy sector companies. The increasing global focus on sustainability has encouraged firms to adopt ESG practices and green innovation strategies to enchance competitiveness and attract investors. However, previous studies have reported inconsistent findings regarding the impact of ESG and green innovation on firm value, particularly in the energy sector. Therefore, this study aims to provide empirical evidence on the direct and indirect relationships among these variables. This study employs a quantitive approach using panel data with 358 samples from energy sector companies during the 2021-2024 period. The analysis applies panel data regression using the Common Effect Model to test the proposed relationships. The results show that ESG disclosure has a positive effect on firm value, indicating that investors perceive strong sustainability practices as a positive signal of long-term corporate prospects and effective risk management. In contrast, green innovation does not significantly affect firm value, suggesting that the market may not immediately recognize the economic benefits of environmentally oriented innovation activities. Furthermore, financial performance is not found to mediate the relationship beetwen ESG and firm value. This study provides implications for energy sector firms to prioritize ESG implementations as a strategy to enchance firm value.

Pengaruh Cash Holding, Nilai Perusahaan, dan Leverage terhadap Income Smoothing dengan Ukuran Perusahaan sebagai Variabel Moderasi

2026-05-08T07:41:13+00:00

This study aims to analyze the effect of cash holdings, firm value, and leverage on income smoothing, with firm size as a moderating variable in the property and real estate sector listed on the Indonesia Stock Exchange for the 2020–2024 period. The study employed a quantitative approach with purposive sampling, resulting in 34 companies with a total of 170 observations. Data analysis was conducted using logistic regression and Moderated Regression Analysis (MRA). The results showed that cash holdings had a positive and significant effect on income smoothing, while leverage had a negative and significant effect on income smoothing. Meanwhile, firm value, proxied by Price to Book Value (PBV), did not have a significant effect on income smoothing. Moderation testing showed that firm size moderated the relationship between cash holdings and leverage on income smoothing, but not the relationship between firm value and income smoothing. These findings indicate that post-pandemic conditions in the property sector have led to liquidity pressures and creditor oversight becoming important factors influencing management behavior in implementing income smoothing practices. This study contributes to the development of literature related to the determinants of income smoothing in the property and real estate sector in Indonesia.

From Financial Decision-Making to Health Behavior: Financial Literacy as a Predictor of Physical Activity among Vocational Students

2026-04-05T19:08:10+00:00

Low levels of physical activity among adolescents have become an increasing global health concern, as they may influence the quality of future human resources. Previous studies have largely explained physical activity from environmental and psychological perspectives. However, cognitive–economic factors, particularly financial literacy, have received limited attention within the context of health-related behavior. This study investigates whether financial literacy can help explain variations in physical activity among vocational high school students. Financial literacy is examined through three dimensions: financial knowledge, financial behavior, and financial attitude. This explanatory quantitative research involved 296 students selected using stratified random sampling. The result show that each dimension of financial literacy shows a positive association with physical activity, with financial behavior emerging as the strongest predictor. These findings suggest that financial literacy extends beyond financial decision-making and may also play a role in shaping health-related behaviors. Financial literacy notably impacts physical activity in vocational high school students, with financial behavior as the key factor. Self-regulation and planning in financial management correlate positively with healthy behaviors, making financial literacy vital for promoting a sustainable adolescent lifestyle. The study offers an interdisciplinary perspective by highlighting how financial capability may contribute to the development of healthier lifestyle patterns among vocational adolescents. The novelty of this research lies in testing the self-regulatory spillover mechanism of financial literacy on physical activity of vocational high school students, which integrates financial literacy as a cross-domain psychological foundation to fill the gap between economic skills and consistency of a healthy lifestyle in adolescents.

Unlocking Msme Satisfaction in the Digital Era: A Model of Service Quality, Ease of Use, and Perceived Usefulness

2026-04-15T09:13:40+00:00

This study aims to predict MSME user satisfaction with digital financial reporting, specifically the Akuntansiku application, by integrating the Technology Acceptance Model (TAM) and the Information Systems Success Model. It examines service quality and ease of use as independent variables, with perceived usefulness as a mediating factor influencing user satisfaction. Using a quantitative explanatory design, data were collected from 51 MSMEs in Prabumulih City and analyzed with SEM-PLS. The findings reveal that service quality significantly and positively affects both perceived usefulness and user satisfaction, with perceived usefulness serving as a significant mediator. Conversely, ease of use has no significant impact on perceived usefulness or satisfaction. These results emphasize that service quality and perceived usefulness play a more dominant role in shaping user satisfaction than technical ease of use. Practically, the study underscores the importance of developing digital systems that deliver value and high-quality service to promote sustainable digital adoption among MSMEs.

Pengaruh Cash holding dan Financial leverage terhadap Income smoothing pada Perusahaan Sektor Makanan dan Minuman di Bursa Efek Indonesia Periode Pascapandemi COVID-19

2026-05-13T00:27:40+00:00

The post-pandemic economic recovery period of 2022–2024 has heightened uncertainties in corporate earnings stability, particularly within Indonesia's food and beverage sector. This study examines the effect of cash holding and financial leverage on income smoothing practices among food and beverage companies listed on the Indonesia Stock Exchange during that period. Grounded in agency theory and signaling theory, this research argues that both variables may create incentives for management to engage in earnings-smoothing behavior. A quantitative approach was employed using secondary data from annual audited financial reports. Purposive sampling yielded 47 companies, resulting in 141 firm-year observations over three years. Income smoothing was measured using the Eckel Index, cash holding was proxied by the ratio of cash and cash equivalents to total assets, and financial leverage was measured by the ratio of total debt to total assets. Binary logistic regression was applied using IBM SPSS 27. Results of the simultaneous test indicate that cash holding and financial leverage jointly influence income smoothing (sig. 0.049). Partially, cash holding has a significant negative effect on income smoothing (sig. 0.024), suggesting that higher cash reserves reduce the likelihood of earnings-smoothing practices. Financial leverage, however, shows no significant effect (sig. 0.142), indicating that debt pressure alone does not drive income smoothing in this sector during the post-pandemic recovery. These findings underscore the importance of strengthening corporate governance and transparency to safeguard the credibility of financial reporting.

Pengaruh Kompensasi, Kekayaan Partner, dan Moral terhadap Kualitas Audit dengan Moderasi Skeptisisme

2026-04-03T17:37:51+00:00

This study aims to examine the influence of fee-based compensation, partner net worth, and moral reasoning on audit quality in infrastructure companies listed on the Indonesia Stock Exchange during the 2021–2025 period. The population consists of all infrastructure sector companies, and purposive sampling was applied to select 18 companies, resulting in 90 firm-year observations. Secondary data were obtained from published annual reports. Data analysis employed multiple linear regression and Moderated Regression Analysis (MRA) to evaluate the moderating role of professional skepticism. Audit quality was proxied by Audit Report Lag. The results indicate that fee-based compensation, partner net worth, and moral reasoning, both partially and simultaneously, do not have a significant effect on audit quality. In addition, professional skepticism does not moderate the relationship between the independent variables and audit quality. These findings imply that audit timeliness in capital-intensive infrastructure companies is more likely influenced by operational complexity than by economic incentives or ethical considerations of auditors. This research contributes by integrating economic incentive theory and ethical decision-making perspectives within a comprehensive empirical model during a period of economic uncertainty, providing implications for regulators in assessing audit fee standards and reporting efficiency in Indonesia.

Pengaruh Profitabilitas, Solvabilitas, Likuiditas, dan Ukuran Perusahaan terhadap Audit Delay

2026-04-20T04:21:15+00:00

This study aims to examine the effect of profitability, solvency, liquidity, and firm size on audit delay in consumer non-cyclicals sector companies listed on the Indonesia Stock Exchange during the 2022–2024 period. Audit delay refers to the period between the company’s fiscal year-end and the issuance date of the independent auditor’s report. This research employed a quantitative approach using panel data regression analysis. The sample was selected using purposive sampling, resulting in 75 companies with a total of 225 observations. Profitability was measured using Return on Assets (ROA), solvency using Debt to Equity Ratio (DER), liquidity using Current Ratio (CR), and firm size using the natural logarithm of total assets. Based on the model selection tests, the Fixed Effect Model (FEM) was determined as the most appropriate model. The results indicate that profitability has no significant effect on audit delay. Solvency and liquidity have a positive and significant effect on audit delay, while firm size has a negative and significant effect on audit delay. These findings suggest that higher debt levels and greater complexity of current assets may extend the audit process, whereas larger companies tend to have better internal control systems that enable faster audit completion. This study is expected to contribute to the development of audit delay literature and provide consideration for companies and auditors in improving the timeliness of financial reporting

Pengaruh Green Accounting Dan CSR Disclosure Terhadap Nilai Perusahaan

2026-05-14T06:01:40+00:00

This study aims to analyze the influence of Green Accounting and CSR Disclosure on company value with profitability as a mediating variable. The approach used is causal associative quantitative with secondary data obtained from the company's financial statements and sustainability reports. The sampling technique used purposive sampling so that 60 observations from 12 food and beverage companies were obtained. Data analysis was carried out using panel data regression with the help of the EViews application. The results of the study show that Green Accounting has no effect on the company's value. CSR Disclosure has also not had an effect on the company's value, which shows that social responsibility disclosure is not yet a top consideration for investors. In addition, profitability has not been able to affect the value of the company. In the mediation variable test, Green Accounting has no effect on profitability, while CSR Disclosure has an effect on the company's profitability. However, profitability has not been able to mediate the influence of Green Accounting and CSR Disclosure on company value. Thus, only CSR Disclosure has an effect on profitability, while other variable relationships do not show significant influence

Financial Distress, ESG Disclosure, and Tax Avoidance: The Moderating Role of Audit Quality in Post-Pandemic Non-Cyclical Consumer Firms

2026-03-14T12:48:20+00:00

This study aims to examine the influence of financial difficulties and Environmental, Social, and Governance (ESG) disclosures on tax avoidance practices, with audit quality as a moderating variable. This research addresses gaps in the literature, as previous studies have produced inconsistent findings regarding the role of ESG and financial difficulties in influencing tax avoidance, especially in post-pandemic defensive sectors. This study adopts a quantitative approach using secondary data. The population consists of non-cyclical consumer sector companies listed on the Indonesia Stock Exchange during the period 2020–2024. Using purposive sampling, 21 companies were selected, resulting in 105 observations over the five-year period. Data were obtained from annual financial statements and sustainability reports published on the company's website and the Indonesia Stock Exchange. Panel data regression analysis was used, with EViews 13 employed for data processing. The findings indicate that neither financial difficulties nor ESG disclosures have a significant impact on tax avoidance. Furthermore, audit quality does not moderate the relationship between financial difficulties, ESG disclosures, and tax avoidance. These results highlight that tax avoidance behavior in post-pandemic non-cyclical consumer companies tends to be stable and is not significantly influenced by company-level financial pressures or ESG practices, nor is it reinforced by external monitoring thru audit quality. The findings indicate that tax avoidance in the defensive sector is driven structurally rather than influenced by corporate-level governance mechanisms.

ESG, Nilai Perusahaan dan Kinerja: Peran Moderasi Audit Internal dan Eksternal

2026-04-20T04:34:04+00:00

The current study investigates the dynamics among Environmental, Social, and Governance (ESG) disclosure, value and performance of the firm, incorporating audit quality and audit committee as moderating factors. Panel data regression is utilized to analyze 455 observations from non-financial firms listed on the Indonesia Stock Exchange over the 2017–2023 period. The sample is filtered through purposive sampling based on some predetermined criteria. The results exhibit (1) ESG disclosure failed to significantly affect firm value but negatively affect performance; (2) for moderation analysis only the interaction between ESG disclosure and audit quality is significant, while the rest is not significant. These findings advance the theoretical understanding of the role of audit mechanisms in ESG contexts in Indonesia. This study's findings also offer valuable insights for several stakeholders. Companies can leverage them to enhance the effectiveness of their ESG reporting assurance mechanisms. Investors gain awareness of the limitations in current internal assurance practices that affect the credibility of ESG disclosures. For policymakers, the results highlight the importance of refining audit functions within the ESG reporting framework through regulatory measures to better support corporate value creation.

Pengungkapan ESG, Efisiensi Biaya dan Ukuran Perusahaan: Dinamika Nilai Perusahaan Sektor Energi Periode 2022-2024

2026-03-26T18:25:54+00:00

This study investigates the influence of Environmental, Social, and Governance (ESG) disclosure and cost efficiency on firm value in the Indonesian energy sector, with firm size as a moderating variable. The sample consists of energy companies listed on the Indonesia Stock Exchange during the 2022–2024 period. Data were collected from annual reports and sustainability disclosures, then analyzed using Moderated Regression Analysis (MRA) to capture both direct relationships and moderating effects. The findings reveal that ESG, whether treated as a composite indicator or separated into its components, does not exert a consistent impact on firm value. In contrast, cost efficiency shows a strong and positive effect across all models, highlighting its role as the primary driver of firm valuation. Firm size does not moderate the relationship between ESG and firm value, but it significantly weakens the positive effect of cost efficiency, reflecting the operational complexities faced by larger firms. Sensitivity tests using the Price to Earnings Ratio (PER) confirm that ESG has no significant effect, while cost efficiency consistently enhances firm value. Future research should broaden the sectoral scope, extend the observation period, and incorporate ESG scores from independent rating agencies to strengthen empirical validity and theoretical contributions.

Perbandingan Akurasi Model Altman, Zmijewski, dan Grover untuk Memprediksi Financial Distress Industri Media Hiburan

2026-04-23T10:57:48+00:00

Financial distress is a condition in which a company experiences financial pressure and, if not properly addressed, can lead to insolvency. The media and entertainment industry is particularly vulnerable to this situation. This study aims to determine which financial distress prediction model is more accurate for the entertainment media industry. The models used in this study are the Modified Altman Z-Score Model, the Zmijewski Model, and the Grover Model. Fourteen media and entertainment companies were sampled for the study between 2020 and 2024. The predicted data from the three models were compared with actual conditions, with indicators of negative net profit and negative operating cash flow simultaneously. The results showed that the Zmijewski model had the highest accuracy rate of 75.7%, followed by the Grover model with an accuracy rate of 70%, and the Altman model with an accuracy rate of 62.9%.

Evaluasi Tax Holiday pada Penyerapan Tenaga Kerja Industri Pionir

2026-03-31T02:06:26+00:00

Tax holiday remains one of Indonesia’s main fiscal instruments for attracting investment into pioneer industries. However, in capital-intensive sectors, policy effectiveness cannot be assessed solely from investment realization because forgone tax revenue must also be matched by meaningful employment outcomes, domestic capacity building, and sustainable industrial development. This study aims to evaluate the effectiveness of tax holiday in pioneer industries from the perspective of labor absorption. The analysis also examines how investment incentives relate to employment quality, skills formation, foreign worker dependency, social and environmental externalities, and policy sustainability in the era of global minimum tax. This study uses a qualitative evaluative case study based on secondary data from nineteen journal articles, three ministerial regulations, and relevant institutional publications. The analysis compares a petrochemical project in Cilegon and a nickel-downstreaming industrial zone in Morowali. The results show that tax holiday continues to function as an investment-entry signal, but its labor impact is uneven. In capital-intensive industries, employment creation is concentrated in the construction phase, while strategic technical positions remain constrained by skills mismatch and limited domestic readiness. The Morowali case further indicates that rapid industrial expansion may generate unequal benefit distribution and external costs that reduce net social benefit. Therefore, tax holiday is more effective as an investment-attraction instrument than as a stand-alone employment policy. Its effectiveness will increase if it is redesigned as a conditional incentive linked to local workforce development, technology transfer, and environmental compliance.

Perkembangan dan Tren Penelitian Pengungkapan Anti-Korupsi: Sebuah Tinjauan Literatur Empiris

2026-04-25T06:23:29+00:00

This study employs a Systematic Literature Review (SLR) using the PRISMA framework to examine the development of anti-corruption disclosure research. A total of 45 Scopus-indexed articles published between 2015 and 2026 were systematically analyzed. The findings indicate that anti-corruption disclosure not only serves as a transparency mechanism but also functions as a strategic instrument to strengthen corporate governance, mitigate fraud and corruption risks, and enhance stakeholder trust and corporate reputation. Three main themes emerge from the review: (1) the role of disclosure in reinforcing governance mechanisms and accountability, (2) its function in mitigating fraud and corruption through increased monitoring and control, and (3) its contribution to building legitimacy and stakeholder trust. However, the review also identifies several challenges, including the use of procedural disclosure measures that do not fully capture substantive practices, methodological weaknesses related to potential bias and causality issues, and sample heterogeneity that may affect the validity of findings. Overall, this study contributes by providing a comprehensive synthesis of the literature and offering implications for future research and corporate practices oriented toward integrity and sustainability.

Pengaruh Green Accounting, Enviromental Disclousure, Carbon Emissional Disclousure terhadap Kinerja Keuangan pada Perusahaan Manufaktur

2026-04-04T17:31:11+00:00

This study is motivated by the increasing demand for environmental transparency and the importance of sustainability practices in improving corporate financial performance. The objective of this research is to examine the effect of green accounting, environmental disclosure, and environmental disclosure on financial performance with leverage as a control variable. This study offers a novel contribution by simultaneously integrating three environmental variables into a single empirical model and utilizing recent data from the basic materials and chemical manufacturing subsector for the 2022–2024 period. The population consists of 71 manufacturing companies listed on the Indonesia Stock Exchange, with 42 firms selected through purposive sampling, resulting in 126 observations. The analysis method employs panel data regression using the Random Effect Model (REM) with EViews software. The results indicate that green accounting and environmental disclosure have a significant positive effect on financial performance, while environmental disclosure shows no significant effect. Regarding the control variable, only environmental disclosure significantly affects leverage. Simultaneously, all independent variables significantly influence financial performance. The findings suggest that the effectiveness of sustainability practices in enhancing financial performance is contextual, emphasizing the importance of implementation quality rather than mere disclosure.

Sustainability Reporting, Ukuran Perusahaan, Profitabilitas terhadap Harga Saham dengan Nilai Perusahaan sebagai Variabel Mediasi

2026-04-27T19:18:53+00:00

This study aims to examine the effects of sustainability reporting, firm size, and profitability on stock prices, with firm value serving as a mediating variable. A causal associative quantitative approach was employed using secondary data obtained from annual financial statements and sustainability reports. The sample was selected through purposive sampling, resulting in 50 observations from 10 energy sector companies. Data were analyzed using panel data regression and path analysis with EViews software. The findings indicate that sustainability reporting has a significant positive direct effect on stock prices, supporting signaling theory, which suggests that the disclosure of non-financial information is positively perceived by the market. Profitability has a significant positive effect on firm value but does not directly influence stock prices, reflecting a shift in investor preferences within the energy sector. Meanwhile, firm size has no significant effect on either firm value or stock prices, indicating that asset scale is no longer a primary indicator of market valuation. The mediation analysis further reveals that firm value, measured by Tobin’s Q, mediates only the relationship between profitability and stock prices. These findings imply that energy companies should enhance the quality of their sustainability disclosures as a strategic instrument to improve market value and strengthen investment attractiveness

Do Sustainability Practices Drive Financial Performance? Evidence from Indonesia’s Energy Sector (2022-2024)

2026-04-05T19:08:56+00:00

The relationship between sustainability practices and financial performance remains an important issue, particularly in the energy sector, which is associated with high environmental risks. However, previous studies have reported inconsistent findings, especially in developing countries. This study aims to examine whether sustainability practices influence the financial performance of energy sector companies in Indonesia. The study employs secondary data obtained from energy companies listed on the Indonesia Stock Exchange (IDX) during the 2022–2024 period, with a sample of 37 companies selected using purposive sampling. Data were analyzed using multiple linear regression with IBM SPSS Statistics version 27. The results indicate that environmental performance has a significant positive effect on financial performance, whereas green strategy and corporate social responsibility do not have a significant effect. This study contributes to the literature by demonstrating that not all sustainability practices lead to improved financial performance. The findings imply that companies should prioritize enhancing their environmental performance as a strategic effort to improve financial performance.

Asimetri Transmisi Kebijakan Moneter Ganda Terhadap Nilai Tukar Rupiah: Pendekatan Nardl

2026-04-28T03:49:45+00:00

Fluctuations in the Indonesian rupiah exchange rate within the context of a dual financial system highlight the critical role of monetary policy in maintaining macroeconomic stability. This study aims to analyze the effects of conventional and Islamic monetary policy instruments on the rupiah exchange rate while accounting for external factors. The analysis employs the Nonlinear Autoregressive Distributed Lag (NARDL) model using monthly time series data from 2016 to 2025, covering the rupiah exchange rate, BI Rate, PUAS, inflation, and the Federal Reserve interest rate. The results indicate that these variables significantly influence the rupiah exchange rate in both the short and long run, with evidence of long-run cointegration among the variables. However, the asymmetric test results reveal no significant differences in the response to increases and decreases in the BI Rate and PUAS. These findings suggest that although the dual monetary system plays a role in exchange rate stability, market responses tend to be symmetric with respect to monetary policy changes.

The Nexus of Independent Commissioners, CSR, and Dividend Policy on Firm Value: Profitability as a Moderating Variable

2026-04-10T05:03:29+00:00

This study aims to examine the effects of Independent Commissioners, Corporate Social Responsibility (CSR), and Dividend Policy on Firm value, and to assess the role of Profitability as a moderating variable in this relationship. The object of this study is banking sector companies listed on the Indonesia Stock Exchange (IDX) during the period 2022–2024. This study is quantitative research. Using a saturated sample method, the population size equals the sample size: 47 companies with three years observation from 2022-2024 thus it resulting with totalling 141 observations. The data analysis techniques used are multiple linear regression analysis and Moderated Regression Analysis (MRA). The results show that independent commissioners, CSR, and dividend policy have a positive and significant effect on firm value. Furthermore, the MRA test results prove that Profitability can moderate (strengthen) the effect of independent commissioners and dividend policy on firm value. However, Profitability cannot moderate the relationship between CSR and firm value. These findings indicate that investors view CSR disclosure as a long-term sustainability commitment that is independent of the company's annual profit fluctuations.

Peran Representasi Wanita dalam Dewan terhadap Keputusan Leverage pada Industri Maskulin di Indonesia

2026-05-05T13:40:32+00:00

The development of corporate governance has increased attention toward gender diversity within corporate boards, particularly in masculine industries traditionally dominated by men. This study examines the effect of Women on board of directors and commissioners on leverage policy in Indonesian masculine industry companies during the 2023-2024 period. The population comprised 87 mineral and non-mineral energy sector companies listed on TradingView. After applying purposive sampling criteria, 161 firm-year observations were obtained from 87 companies over a two-year period, following the exclusion of 13 observations due to outlier problem. Secondary data were obtained from companies’ annual reports and a quantitative approach was employed using multiple linear regression analysis. ang was proxied by Debt to Equity Ratio (DER), while Return on Assets (ROA) and firm size were included as control variables. Result shows that female representation on the board of commissioners has a significant negative effect on DER with a significance level of 4.6%, indicating that female commissioners tend to encourage more prudent financing policies and lower debt utilization. In contrast, female representation on the board of directors does not significantly affect DER. In addition, ROA negatively influences DER, while firm size demonstrates a positive relationship with DER. These results suggest that the supervisory role of female commissioners contributes more effectively to conservative leverage decisions than the managerial role of female directors, thereby highlighting the importance of women commissioners in strengthening leverage policies within masculine industries in Indonesia.

Profitability and Leverage on Tax Avoidance: The Moderating Role of Firm Size in Indonesian SOEs

2026-04-10T05:13:36+00:00

This study examines the effect of profitability and leverage on tax avoidance with firm size as a moderating variable in Indonesian state-owned enterprises (SOEs) during 2020–2024. This study uses secondary data obtained from annual financial reports of SOEs listed on the Indonesia Stock Exchange and applies panel data regression analysis. The sample was selected using purposive sampling. The Chow, Hausman, and Lagrange multiplier tests are used to pick models, and the Fixed Effects Model is determined to be the best estimating technique. Given that its impact on the Effective Tax Rate (ETR) is statistically significant and positive, the results of the empirical research demonstrate that greater profitability (ROA) is associated with higher ETR, indicating lower levels of tax avoidance. Conversely, the DER suggests that leverage has no significant effect on tax avoidance. Additionally, it has been noted that firm size (FS) has a moderating effect on the profitability tax avoidance nexus, weakening the positive effect of profitability on ETR. Nevertheless, the relationship between leverage and tax avoidance is not moderated by the FS. The study focuses on the significance of firm-specific characteristics and contributes actual data on tax avoidance practices to the literature on accounting and taxation in SOEs. Practically speaking, the results can help legislators and tax authorities create more efficient government surveillance programs to increase tax payments, particularly among the biggest and most lucrative SOEs.

Peran Sustainability report, Profitabilitas, Ukuran Perusahaan Pada Nilai Perusahaan: Sektor Infrastruktur, Transportasi dan Logistik

2026-05-06T01:17:56+00:00

The Indonesian capital market has experienced significant growth in recent years, playing a crucial role in supporting the national economy by serving as a platform for investment and capital raising. This study aims to examine the effects of sustainability reporting, profitability (Return on Assets/ROA), and firm size on firm value, measured by Tobin’s Q, among infrastructure, transportation, and logistics companies listed on the Indonesia Stock Exchange (IDX) during the 2022–2024 period. A quantitative approach was employed using secondary data obtained from sustainability reports and annual financial statements. The sample was selected through purposive sampling, resulting in 63 observations. Data were analyzed using multiple linear regression with IBM SPSS Statistics version 27. The findings reveal that sustainability reporting and profitability (ROA) have a significant positive effect on firm value, indicating that both non-financial and financial information serve as positive signals that enhance investor confidence and improve corporate prospects. In contrast, firm size has a significant negative effect on firm value, suggesting that larger firms may face greater operational complexity and higher risks, which can reduce investor valuation. Overall, these findings support signaling theory, emphasizing the importance of transparent financial and non-financial disclosures in enhancing firm value.

Pengaruh Modal Kerja, Aktivitas, Inflasi terhadap Pertumbuhan dan Laba dengan Moderasi Kebijakan Dividen Bank Buku IV

2026-04-12T17:47:29+00:00

This study aims to analyze the effect of Working Capital, Company Activity, and Inflation Rate on Company Growth and its impact on Profit Achievement, with Dividend Policy as a moderating variable. The object of this research focuses on banking companies categorized as BUKU IV Banks in Indonesia during the period 2018–2025. This study employs a quantitative approach using panel data analysis methods. The data used are secondary data obtained from companies’ annual financial reports and publications from Bank Indonesia. The analytical techniques include panel data regression, direct effect testing, mediation testing through company growth variables, and moderation testing to examine the role of dividend policy and tax policy in strengthening or weakening the relationship between company growth and profit achievement. The data are processed using EViews 9 software. Theoretically, this research contributes to the development of financial literature by integrating internal and external financial aspects into a single analytical framework, as well as positioning dividend policy and tax policy as moderating mechanisms in the relationship between company growth and profitability. Practically, the results of this study are expected to serve as a reference for banking management, regulators, and investors in formulating financial policies that support sustainable growth and improved profit achievement.

Rasio Fundamental dan Harga Saham: Kebijakan Dividen sebagai Variabel Mediasi

2026-05-04T10:15:36+00:00

This study investigates the effect of Debt to Equity Ratio (DER), Earning Per Share (EPS), and Economic Value Added (EVA) on stock prices, with dividend policy proxied by the Dividend Payout Ratio (DPR) as a mediating variable in automotive sub-sector companies listed on the Indonesia Stock Exchange during the 2020–2024 period. This research is motivated by inconsistent findings in prior studies regarding the effectiveness of financial fundamentals and dividend policy in influencing stock price formation, particularly in emerging markets during the post-pandemic recovery period. Previous studies have predominantly focused on direct relationships between financial ratios and stock prices, while limited research has examined dividend policy as a transmission mechanism linking firm fundamentals and market valuation within the automotive industry context. This study contributes to the Signalling Theory literature by examining whether dividend policy acts as an effective transmission mechanism between firm fundamentals and stock price formation in the post-pandemic automotive industry. The automotive sector was selected because it represents a capital-intensive industry highly sensitive to leverage, macroeconomic instability, interest rate fluctuations, and changes in consumer purchasing power following the COVID-19 pandemic.The study employed a quantitative approach using panel data regression analysis with secondary data obtained from annual reports of 11 automotive sub-sector companies selected through purposive sampling, resulting in 55 firm-year observations. The analysis was conducted using EViews 13. The study applied Fixed Effect Model (FEM) and Random Effect Model (REM) estimations based on Chow, Hausman, and Lagrange Multiplier tests. Mediation analysis was further examined using the Sobel test. The results reveal that EPS has a positive and significant effect on stock prices, indicating that investors in the Indonesian capital market remain strongly profit-oriented and respond primarily to accounting-based profitability signals. In contrast, DER, EVA, and DPR do not significantly affect stock prices. The findings also show that DER negatively affects DPR, EVA positively affects DPR, while EPS unexpectedly exhibits a negative effect on DPR. Furthermore, dividend policy fails to mediate the relationship between DER, EPS, EVA, and stock prices. The findings provide theoretical implications by demonstrating that not all financial indicators generate equally strong market signals in emerging capital markets. Investors tend to respond more directly to profitability signals rather than dividend distribution signals. Practically, this study suggests that investors should prioritize profitability and operational efficiency indicators when making investment decisions, while corporate managers should focus on strengthening financial performance and long-term business sustainability rather than relying solely on dividend policy to influence market valuation...

Digital Transformation of Mosque Finance Through ERP System Implementation

2026-02-19T19:09:05+00:00

As Islamic philanthropic initiatives expand, the digitalization of mosque financial management is becoming increasingly vital for ensuring transparency and accountability in the management of Zakat, Infaq, and Waqf (ZISWAF) funds. This research evaluates how four specific Enterprise Resource Planning (ERP) systems SIPZIS, Ikhlas App, Maslam, and a dedicated web-based platform perform in terms of transparency, efficiency, and user acceptance. We utilized a quantitative cross-sectional approach, gathering data from 40 respondents across four mosques in Indonesia. The sample consisted of 5 administrative staff and 5 congregants from each mosque, though actual distribution per mosque ranged from 9 to 11 respondents due to field conditions. Data were analyzed using one-way ANOVA and multiple regression analysis. The results indicate significant performance variations among the systems regarding transparency (F = 3.120, p = 0.037) and efficiency (F = 2.890, p = 0.049). Furthermore, the regression model (R² = 0.681) suggests that while both factors are important, transparency is the primary driver of user perception (? = 0.450, p = 0.001). These outcomes underscore that for financial technology to be accepted in Islamic institutions, the ability to report transparently is crucial for building trust among the congregation. This study fills a gap in the literature by comparing different ERPs in a faith-based setting and offers actionable insights for developers and mosque administrators aiming to improve digital governance.

Fraud Prevention through Risk Management and Good Governance: The Ethics of Organizational Behavior Moderation

2026-04-18T04:45:56+00:00

This research aims to analyze the influence of risk management and good governance on fraud prevention with the ethics of organizational behaviour as a moderating variable. This type of research is quantitative, and data collection was carried out through a questionnaire. The research was conducted at the Inspectorate of East Kalimantan Province with a sample of 42 auditors. The data analysis technique used is Partial Least Squares Structural Equation Modeling (PLS-SEM) with SmartPLS 4.1 software. The results showed that risk management and good governance have a positive and significant effect on fraud prevention. The ethics of organizational behavior is able to moderate the influence of risk management on fraud prevention, but the ethics of organizational behavior is not able to moderate the effect of good governance on fraud prevention.

Pengaruh Pajak Cryptocurrency Terhadap Keputusan Investasi dengan Moderasi Literasi Keuangan

2026-05-13T01:12:46+00:00

This study aims to analyze the effect of cryptocurrency tax collection on cryptocurrency investment decisions in Indonesia moderated by financial literacy. The population of this study consists of cryptocurrency investors in Indonesia. This study employed a quantitative approach using Partial Least Squares Structural Equation Modeling (PLS-SEM) assisted by SmartPLS 4 software. Sampling was conducted using a simple random sampling technique, and data were obtained through distributing questionnaires to 118 respondents through Slovin formula sampling measurement technique with a 10% error rate (it was found that the minimum number of respondents required was 100 respondents). The results show that cryptocurrency tax collection has a positive and significant effect on investment decisions. This indicates that the existence of taxes is not only perceived as a burden, but also as a factor that increases legitimacy and investor confidence in investing. Meanwhile, financial literacy was not proven to significantly moderate the effect of cryptocurrency tax collection on cryptocurrency investment decisions, although investors with higher financial literacy tend to consider various investment aspects more rationally. These findings provide theoretical implications that tax policy can be viewed not only as a transaction burden, but also as a form of legitimacy that influences cryptocurrency investment decisions. Practically, the results of this study can serve as input for the government in designing tax policies that are able to increase investor confidence and support the development of the cryptocurrency investment ecosystem in Indonesia.

Going Concern Matter Disclosure: Evidence from Abnormal Cash Flow, Value Creation, Litigation, and Governance

2026-03-07T06:18:39+00:00

Going Concern represents a fundamental assumption underlying the preparation of financial statements, and is a key focus in the audit process, especially with the existence of SA 570 Revision 2021, which requires the disclosure of material uncertainty through going concern matter disclosure (GCMD). This study investigates the influence of abnormal operating cash flow, value creation, litigation, and audit committee on GCMD in the audit reports of consumer cyclicals companies. The research population includes all consumer cyclicals companies listed on the Indonesia Stock Exchange for the period 2022–2024. Purposive sampling was used to obtain 71 companies with a total of 213 observations as the research analysis units. A quantitative approach with causal research design was applied. Secondary data were obtained from annual reports and independent auditor reports published on the official website of the Indonesia Stock Exchange. Logistic regression analysis was employed to examine the effect of each independent variable on the probability of GCMD disclosure. The findings reveal that litigation risk and value creation have a positive and significant effect on GCMD disclosure, whereas the audit committee shows a significant negative relationship. In contrast, abnormal operating cash flow does not significantly influence GCMD. These results suggest that auditors place greater emphasis on legal risk exposure, governance effectiveness, and uncertainty surrounding future value generation rather than relying solely on operational cash flow indicators when assessing business continuity.

Can Cash Conversion Cycle and Trade Credit Optimize Profitability?

2026-04-20T04:06:52+00:00

The manufacturing sector is a cornerstone of Indonesia's economic development, yet persistent profitability fluctuations highlight ongoing difficulties in managing working capital efficiently. The Cash Conversion Cycle (CCC), Trade Credit Receivable (TCR), and Trade Credit Payable (TCP) are among the key financial indicators that significantly shape a firm's operational and financial outcomes. Accordingly, this study investigates how these three variables affect the profitability of manufacturing companies listed on the Indonesia Stock Exchange. A quantitative research design was adopted, employing panel data regression with a Fixed Effect model to control for firm-specific characteristics. The sample encompasses 196 companies with 784 total observations recorded between 2021 and 2024. Return on Assets (ROA) is used as the profitability measure, while CCC, TCR, and TCP function as the independent variables. The results demonstrate that CCC and TCP negatively and significantly affect profitability, indicating that extended cash cycles and heavy reliance on supplier credit can erode financial performance. In contrast, TCR shows a significant positive effect, suggesting that effective receivables management contributes to stronger revenue generation. Practically, the results indicate that a one-unit increase in CCC and TCP reduces ROA by 0.0000338 and 0.0277, respectively, whereas a one-unit improvement in TCR increases ROA by 0.2174. These findings collectively underscore the importance of efficient working capital management in manufacturing firms. By optimizing the cash conversion cycle and maintaining a well-balanced trade credit strategy, companies can meaningfully enhance their profitability and ensure long-term financial sustainability within Indonesia's competitive manufacturing landscape.

Pengaruh Debt to Equity Ratio, Return on Assets, dan Current Ratio terhadap Harga Saham

2026-05-13T05:03:18+00:00

Stock prices in the food and beverage sector are influenced by fundamental financial performance, yet prior studies have shown inconsistent findings regarding the role of capital structure, profitability, and liquidity in explaining stock price movements. This study aims to examine the determinants of stock prices of food and beverage companies listed on the Indonesia Stock Exchange during 2021–2024 by emphasizing the role of Debt to Equity Ratio, Return on Assets, and Current Ratio within the post-pandemic market recovery context. Using a quantitative approach and multiple linear regression analysis, this study analyzed 56 observational data obtained from 14 selected companies through purposive sampling. The findings reveal that Return on Assets has a positive and significant effect on stock prices, while Debt to Equity Ratio and Current Ratio do not have significant partial effects. Simultaneously, the three financial ratios significantly influence stock prices. This study contributes to strengthening fundamental analysis and signaling theory by demonstrating that profitability remains the most relevant signal considered by investors in assessing firm value within Indonesia’s food and beverage sector. The findings also provide practical implications for investors to prioritize profitability indicators in investment decision-making, while companies are encouraged to improve asset efficiency to enhance market valuation..

Increasing Profit-Sharing Financing by Tax Incentive Schemes Similar to Venture Capital Companies

2026-03-10T03:31:43+00:00

Financing with a profit loss sharing (PLS) scheme has a more positive and significant impact on economic growth compared to that of credit distribution by conventional banks. Financing with a PLS scheme has a high risk, so Islamic banks are careful in increasing this financing. Therefore, incentives are needed to increase this financing. This article used the grounded theory method. Grounded theory is not a theory but a method and a research strategy that aims to produce a theory from data. This article proposes a PLS financing scheme with income tax. Substantively, the PLS financing scheme is like the financing carried out by a venture capital company. With some requirements, the income received by the venture capital company is nontaxable. Therefore, income from financing carried out by Islamic banks that is similar to financing from venture capital companies can be non-taxable, of course, with the same requirements. Affirmation regulations are needed to strengthen the provision of incentives to Islamic banks so that their income is not subject to tax. Increasing financing with a PLS scheme provides benefits by maintaining religion, soul, mind, descendants, and property. In the short term, this income tax incentive harms state revenues, but in the long term, it will have a positive impact by increasing value-added tax and income tax from financing recipients.

Pengaruh Kejelasan Sasaran Anggaran, Penggunaan Siskeudes, Kompetensi SDM terhadap Akuntabilitas Pengelolaan Dana Desa Dimoderasi Komitmen Organisasi

2026-04-19T00:01:09+00:00

This study aims to analyze the effect of budget target clarity, the use of Sistem Keuangan Desa (Siskeudes), and human resource competence on the accountability of village fund management, with organizational commitment as a moderating variable. This study employed a mixed methods approach through quantitative and qualitative methods. The population consisted of all 160 villages in Kupang Regency. The sampling technique used purposive sampling, resulting in 43 villages across five districts. The total number of respondents was 215, consisting of village heads, village secretaries, heads of affairs, section heads, and chairpersons of the Village Consultative Body. Data were collected through questionnaires, interviews, and documentation, and then analyzed using Structural Equation Modeling-Partial Least Squares (SEM-PLS). The results showed that budget target clarity had a positive and significant effect on the accountability of village fund management. The use of Siskeudes also had a positive and significant effect on the accountability of village fund management and was the most dominant variable in improving accountability. Human resource competence was proven to have a positive and significant effect on the accountability of village fund management. In addition, organizational commitment was able to strengthen the influence of budget target clarity, the use of Siskeudes, and human resource competence on the accountability of village fund management. These findings indicate that improving village fund accountability is influenced by technical aspects, the quality of village officials, and organizational commitment in carrying out duties transparently, professionally, and responsibly.

Intellectual Capital, Corporate Social Responsibility, and Good Corporate Governance Effects on Stock Price Performance in the Indonesian Banking Sector

2026-05-16T07:34:17+00:00

This study investigates the effects of CSR and GCG on stock price performance, with Intellectual Capital (IC) serving as a mediating variable in Indonesian banking sector listed on the Indonesia Stock Exchange (IDX) during the 2019–2023 period. Grounded in Stakeholder and Signaling Theory, the Resource-Based and Knowledge-based view. The study argues that sustainability and governance practices enhance market value through the development of strategic knowledge-based resources. A quantitative explanatory research design was employed using panel data collected from 10 banking firms, selected through purposive sampling. The data were analyzed, used panel data regression and Sobel mediation tests implemented in STATA version 17. The findings indicate that CSR and GCG don’t exert a significant direct impact on stock price performance, suggesting that investors do not immediately translate sustainability and governance initiatives into market valuation. In contrast, IC demonstrates a positive and significant impact on stock price performance, highlighting its role as a critical intangible asset and a source of sustainable competitive advantage. Furthermore, both CSR and GCG significantly contribute and the enhancement of IC through the strengthening of human, structural, and relational capital. Mediation analysis affirm that IC fully mediates the relationships between CSR and stock price performance as well as between GCG and stock price performance. These findings underscore the strategic importance of IC as the primary mechanism through which sustainability and governance practices create market value and improve stock market performance in the banking sector.

Determinasi Manajemen Laba: Peran Kepemilikan Manajerial, Leverage, dan Free Cash Flow

2026-03-17T13:08:20+00:00

This study examines the effect of managerial ownership, Leverage, and free cash flow on earnings management in infrastructure companies listed on the Indonesia Stock Exchange (IDX) between 2021 and 2024. Prior studies report inconsistent findings and provide limited evidence for the infrastructure sector in recent periods. Based on agency theory, earnings management may arise from conflicts of interest between managers and shareholders. The study population comprises all infrastructure sector companies listed on the IDX during the research period. Purposive sampling was applied to select companies that were continuously listed and published annual reports throughout 2021–2024, resulting in 31 companies and 124 observations. A quantitative approach was used, utilizing secondary data from the companies’ annual reports and official IDX publications. Data analysis was conducted using panel data regression in EViews 13. The findings show that managerial ownership, leverage, and free cash flow simultaneously influence earnings management. Partially, however, only free cash flow has a significant positive effect, while managerial ownership and Leverage are not statistically significant. These results suggest that a higher level of free cash flow may encourage managers to engage in earnings management activities. This study contributes by providing recent empirical evidence and highlighting the dominant role of free cash flow in influencing earnings management in the infrastructure sector

Pengungkapan Emisi: Peran Tata Kelola, Modal, dan Manajemen Lingkungan

2026-04-20T18:17:30+00:00

This study examines the influence of capital expenditure, environmental management systems, institutional ownership, and independent boards of commissioners on carbon emission disclosure among companies in the IDX ESG Leaders Index for the 2021–2024 period. The analysis reveals that institutional ownership significantly and positively impacts emission transparency, confirming its role as a critical monitoring mechanism. However, other variables capital expenditure, environmental management systems, and independent boards did not reach statistical significance. These findings indicate that while institutional investors successfully drive disclosure, a gap still exists where other governance and investment structures remain merely administrative formalities. The results suggest that the ESG Leaders label requires stronger internal commitment beyond external shareholder pressure. Consequently, this study recommends the adoption of the emission-specific ISO 14064 standard and the establishment of dedicated sustainability committees to transform carbon disclosure from mere regulatory compliance into substantive corporate responsibility.

Moderating Role Competitive Advantage on Effect of Sustainability Disclosure to Financial Performance

2026-03-26T18:25:14+00:00

The purpose of this research is to analyze the moderating effect of competitive advantage on the effect of sustainability disclosure on corporate financial performance. Sustainability disclosure is currently one of the important aspects of corporate strategy, especially in an effort to create long-term value and strengthen the company's reputation in the eyes of stakeholders. This study uses a quantitative approach by utilizing SPSS version 26 software as an analytical tool. The hypothesized hypothesis was tested using the linear regression test and moderated regression analysis to ascertain the degree of influence between the moderating and independent variables. The results showed that sustainability disclosure has a positive effect on financial performance. This finding supports stakeholder theory and signaling theory. In addition, competitive advantage is also proven to strengthen the effect of sustainability disclosure on financial performance. Companies with a significant competitive edge can make better use of sustainability disclosures. According to the research's practical consequences, businesses must actively develop their competitive edge in addition to focusing on thorough sustainability reporting. Adding a moderating variable, competitive advantage, and measuring the independent variable using the Sustainability Reporting Disclosure Index in compliance with POJK No. 51/POJK.03/2017 and SEOJK No. 16/SEOJK.04/2021 are what make this study novelty.

Pengaruh Inovasi Digital dan Struktur Modal dengan Literasi Keuangan Sebagai Variabel Moderasi

2026-04-23T05:21:54+00:00

This study was conducted to analyze the influence of digital innovation and capital structure on profitability, with financial literacy as a moderating variable in MSMEs in Banyumas Regency. The method applied in this study was quantitative, with 203 MSME respondents obtained through purposive sampling. Data collection was carried out through a structured questionnaire, while data analysis used Partial Least Squares (Smart PLS) to test the interaction between variables and their moderating effects. The findings of this study indicate that digital innovation and capital structure have a positive impact on profitability, and financial literacy plays a role in strengthening the relationship between digital innovation and capital structure on profitability. This study confirms that good financial literacy skills can encourage more effective implementation of digital innovation and maximize the use of capital to improve business financial results. This study also contributes to the development of the Resource-Based View (RBV) and Dynamic Capabilities (DC), namely digital innovation is seen as a strategic capability, capital structure as a financial resource, and financial literacy as a dynamic capability that strengthens the effectiveness of decision-making.

Determinant of Gen Z Student Entrepreneurial Interests

2026-04-01T10:24:12+00:00

This applied research is a development of previous studies, namely testing the determinants of students’ entrepreneurial interest. The researcher expanded the study by conducting tests on vocational students by selecting quota samples and processing data using Partial Least Square (PLS). This is an effort to answer the challenges of new research exploration and support the analysis of students' entrepreneurial interest toward sustainable finance in the future. The method used is a quantitative approach. Sample of the research are 144 students. The results of the exploration show that supporting factors influence students' entrepreneurial interest, while the variables of ambition for freedom and self-realization do not affect students' interest in entrepreneurship. It is due to the mindset of students who choose to work formally. In addition, the reality of the business climate in Sambas Regency, which is relatively undeveloped, also contributes to the lack of desire for students to become entrepreneurs. However, amid unstable economic conditions when jobs are limited, students' interest in entrepreneurship is influenced by pushing factors, including the role of universities, family, and colleagues. This study implies that universities can increase motivation, knowledge, and business information for students, especially Gen Z students so that students' interest in entrepreneurship increases.

Paradoks Environment, Social, Governance (ESG): Investigasi Kinerja Perusahaan Berdasarkan Horison Waktu

2026-04-26T00:45:36+00:00

This study examines the impact of ESG on performance based on a time horizon. Previous studies have examined the impact of ESG on short-term performance, using ROA as a proxy. This study attempts to fill this research gap by examining the impact of ESG on both short- and long-term performance. This examination of ESG on performance based on a time horizon represents a novelty. This study used a sample of 314 non-financial companies for the period 2021-2024. Hypothesis testing used two-stage least squares to address endogeneity issues. The instrument variables used in this study were company size, leverage, and liquidity. The test results indicate that ESG has a positive impact (no effect) on the sustainable growth rate (SGR) (return on assets/ROA) as a proxy for long-term performance (short-term performance). ESG decomposition does not affect either long- or short-term performance. The good corporate governance index has a positive effect on both long- and short-term performance. The industrial sector does not affect either long- or short-term performance. The results of this study provide practical contributions: first, recognizing that ESG is an investment for companies, so returns take time over the long term. Second, good governance is needed by companies to be able to produce good performance in the long and short term.

Internalisasi Nilai Kearifan Lokal Bugis dalam Budidaya Padi Sawah: Perspektif Akuntansi Sosial dan Lingkungan

2026-04-10T08:04:33+00:00

Rice farming is a strategic sector in supporting national food security and is an integral part of the cultural identity of the Bugis people in South Sulawesi. Agricultural practices in this region are not only based on agronomic techniques, but are also laden with local wisdom values such as siri’ na pacce (self-esteem and solidarity), mappatabe (mutual respect), and mabbulo sipeppa (mutual cooperation). From an accounting perspective, these local wisdom values are reflected in social and environmental accounting practices, including non-monetary resource management, informal cost-sharing systems, and accountability to the community and nature. This study aims to: (1) identify Bugis local wisdom values still practiced in paddy rice cultivation; (2) analyze the internalization process of these values from social, cultural, environmental, and accounting perspectives; and (3) develop a conceptual model integrating local wisdom and social-environmental accounting in modern sustainable agricultural practices. Using a qualitative method with a phenomenological interpretive approach, data were collected through in-depth interviews with twelve informants comprising farmers, traditional leaders, and agricultural extension workers in Desa Mattunru-Tunrue, Kecamatan Cempa, Kabupaten Pinrang. Data were analyzed using the interactive model of Miles, Huberman, and Saldana (2014). Findings reveal that Bugis local wisdom values remain embedded in rice farming through collective labor systems, pre-planting rituals, and social norms governing land use, all of which reflect principles of social accountability and environmental stewardship. Internalization occurs through intergenerational transmission supported by community leaders and informal institutions. A conceptual model integrating local wisdom and social-environmental accounting into modern sustainable agriculture is proposed. This study contributes academically and practically to culturally-rooted agricultural accounting policy development.

Kinerja Keuangan Perusahaan Konsumen Primer: Pengaruh Good Corporate Governance, Manajemen Laba, dan Moderasi Ukuran Perusahaan

2026-05-09T13:47:44+00:00

This study aims to examine the effects of Good Corporate Governance (GCG), proxied by independent commissioners, audit committees, and managerial ownership, as well as earnings management, on financial performance, with firm size serving as a moderating variable. A causal associative quantitative approach was employed using secondary data obtained from the financial statements of primary consumer sector companies listed on the Indonesia Stock Exchange (IDX) during the 2020–2024 period. The sample was selected through purposive sampling, resulting in 130 observations from 26 companies. Data were analyzed using panel data regression and Moderated Regression Analysis (MRA) with EViews 13 software. The findings indicate that independent commissioners do not have a significant effect on corporate financial performance. In contrast, audit committees, managerial ownership, and earnings management have significant effects on financial performance. Furthermore, firm size is found to moderate only the relationship between audit committees and financial performance, while it does not moderate the relationships between independent commissioners, managerial ownership, or earnings management and financial performance. These findings suggest that the effectiveness of internal governance mechanisms and the quality of corporate governance implementation play a crucial role in maintaining the financial performance of primary consumer sector companies amid the economic dynamics of the post-COVID-19 pandemic.

Financial Ratio Dynamics and Profitability in Indonesian Islamic Banking: A Panel Analysis of FDR, NPF, and CAR

2026-04-06T04:25:45+00:00

This study addresses inconsistencies in prior empirical findings regarding the relationship between financial ratios and profitability in Islamic banking, where theoretical predictions often diverge from observed data. Despite growing scholarly interest in Islamic bank performance, limited post-pandemic evidence exists on how Financing to Deposit Ratio (FDR), Non-Performing Financing (NPF), and Capital Adequacy Ratio (CAR) jointly influence Return on Assets (ROA). This study employs a quantitative approach using panel data regression with Ordinary Least Squares (OLS) estimation on four Islamic Commercial Banks registered with the Financial Services Authority (OJK), selected through purposive sampling. Results indicate that FDR, NPF, and CAR each exert a positive and significant partial effect on ROA, and simultaneously explain 76.5% of ROA variation (F = 46.628, p < 0.05). These findings challenge conventional assumptions — particularly regarding NPF — and suggest that prudent financing management in the post-pandemic recovery period may alter the expected direction of risk-profitability relationships. This study contributes by providing recent post-pandemic empirical evidence on Islamic bank financial performance in Indonesia, offering implications for both regulatory policy and bank management strategy.

Pengaruh Love of money dan Financial distress terhadap Kepatuhan Pajak UMKM: Moderasi Pemeriksaan Pajak

2026-05-05T13:17:44+00:00

Malang City is one of the regions experiencing MSME tax non-compliance, as reflected in various cases such as tax arrears, “ghosting” restaurants, manipulation of the e-tax system, and engineered turnover reporting to reduce tax burdens. This study aims to examine the effect of love of money and financial distress on tax compliance among MSME taxpayers, as well as to analyze the moderating role of tax audits in these relationships. The population of this study consists of MSMEs registered as taxpayers in Malang City. This study employs a non-probability sampling technique using purposive sampling with specific criteria, resulting in a minimum sample of 115 respondents. Primary data were collected through structured questionnaires using a Likert scale. The data were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) with SmartPLS to evaluate both direct and moderating effects. The results indicate that love of money has a negative and significant effect on tax compliance. Financial distress also negatively and significantly affects tax compliance. However, tax audits are not able to moderate the relationship between love of money and tax compliance, nor between financial distress and tax compliance. This study concludes that internal psychological and financial factors play an important role in influencing MSME tax compliance, while tax audits have not been effective in moderating these relationships. This study highlights the dominant role of internal factors in MSME tax compliance and the limited effectiveness of tax audits, emphasizing the need for behavioral approaches, education, and financial support policies.

Determinants of Taxpayer Compliance: The Moderating Role of Digital Literacy

2026-04-10T05:11:34+00:00

This research is motivated by Indonesia's low tax ratio, which remains below the average for ASEAN and OECD countries. Therefore, optimizing taxpayer compliance is necessary amidst the digital transformation of the tax system. Therefore, the purpose of this study is to examine the influence of tax knowledge, morality, and tax awareness on taxpayer compliance, and to assess the role of digital literacy as a moderating variable. Using a quantitative approach, this study involved 95 individual taxpayer respondents at the Gresik Medium Tax Office (KPP Madya) selected through purposive sampling. Data were analyzed using multiple linear regression and Moderated Regression Analysis (MRA). The results concluded that tax knowledge, morality, and tax awareness had a positive and significant effect on taxpayer compliance. As for the moderating variable, digital literacy was shown to strengthen the influence of morality and tax awareness on compliance. However, digital literacy did not moderate the influence of tax knowledge, as understanding the rules is a fundamental factor whose effect remains stable across levels of digital capability. Overall, improving compliance requires integrating and strengthening taxpayers' internal values with proficiency in modern tax technology systems.

Determinants of E-wallet Adoption Intention Using Extended Technology Acceptance Model: Evidence from Makassar City

2026-04-30T08:14:15+00:00

The rapid development of financial technology has accelerated the transition from cash-based to digital payment systems, particularly e-wallets. Although previous studies have widely examined e-wallet adoption, limited research has integrated behavioral adoption factors within the context of emerging digital financial ecosystems in developing urban areas such as Makassar City. This study aims to analyze the behavioral determinants influencing users’ intention to adopt e-wallets using an extended Technology Acceptance Model (TAM) incorporating trust as an additional construct. A quantitative approach was employed using Structural Equation Modeling (SEM) based on Partial Least Squares (PLS) with SmartPLS 3.0. Data were collected through questionnaires distributed to 221 respondents who use or are familiar with e-wallet payment systems in Makassar City. Hypothesis testing was conducted using bootstrapping techniques through t-statistics and p-values. The findings reveal that perceived usefulness and trust significantly influence user intention, while perceived ease of use does not significantly affect adoption intention. In addition, user intention significantly affects user satisfaction. These findings contribute theoretically by extending TAM in the context of digital payment adoption and highlighting trust as a critical factor in emerging financial technology environments. Practically, the study provides insights for fintech developers and policymakers to strengthen system functionality, security, and user trust in order to encourage sustainable adoption of digital payment systems.

Internal Control Systems And Village Fund Fraud Prevention: Does Community Participation Matter?

2026-04-10T05:16:51+00:00

This reserach aims to investigate the effect of the Internal Control System (ICS) on the fraud prevention in Wonogiri Regency, while also exploring the moderating role of community involvement. This study employed a quantitative approach, conducting a survey among 251 village officials in Wonogiri Regency. A total of 152 participants were included in the study, selected through stratified random sampling. Data analysis was conducted using Structural Equation Modeling Partial Least Squares (SEM-PLS). The findings show that internal control system has a positive effect on fraud prevention. Furthemore, community participation was found to strengthen the effectiveness of the internal control system in preventing fraud, as it functions as an external supervisory mechanism that monitors all stage of village fund management. These findings emphasize the importance of combining formal internal controls with social oversight by the community to create layered supervision that reduces opportunities for fraud. The study provides implications for village governments to continuously strengthen the ICS and enhance community involvement in managing village funds, thereby ensuring transparency, accountability, and compliance.

Keywords: Community Participation; Fraud Prevention; Internal Control System.

Green Accounting and Hospital Sustainability: A Quadruple Bottom Line Analysis at XKP Cirebon Hospital

2026-05-06T08:17:18+00:00

Background: Hospitals produce medical and non-medical waste, contributing 28.6-36% of global healthcare carbon emissions paradoxical for health-protecting institutions. Yet green accounting practices for measuring and disclosing environmental costs remain underdeveloped in Indonesian hospitals. Objective: This study explores green accounting implementation at a private hospital in Cirebon, analyzes its contribution to sustainability via the Quadruple Bottom Line framework, and formulates optimization strategies. Method: A qualitative interpretive case study design was employed. Data were collected through in-depth interviews with five key informants, non-participatory observation of the waste management system, and analysis of financial reports, hazardous waste recapitulation data, and operational environmental documents covering 2023-2024. Thematic analysis was performed using an interactive model with source and method triangulation. Results: Total identified environmental costs increased from IDR 341.66 million in 2023 to IDR 383.14 million in 2024, representing a 12.14% rise and comprising approximately 0.81% of total operating costs below the international sustainability benchmark of 1.5-2.0% for committed hospitals (Dolcini et al., 2025), yet consistent with comparable studies in Indonesian hospital settings. These costs, however, remain undisclosed in formal financial statements. Quadruple Bottom Line analysis confirms positive contributions across all dimensions: a 10% reduction in wastewater treatment costs, zero infectious waste accidents with 85% staff environmental awareness, 95-100% hazardous waste compliance, and strong institutional ethical governance rooted in a holistic service philosophy. Conclusion: Green accounting supports hospital sustainability but remains unsystematized. This study proposes a Quadruple Bottom Line-based model to guide Indonesian private hospitals toward integrated green accounting.

Peran Moderasi Board Characteristics dan Foreign Ownership terhadap Hubungan Kinerja Keberlanjutan dan Nilai Perusahaan di Indonesia

2026-04-13T03:33:21+00:00

This study aims to analyze the moderating roles of board characteristics and foreign ownership on the relationship between Environmental, Social, and Governance (ESG) performance and firm value in Indonesia. Specifically, this research examines three moderating variables: (1) the proportion of female directors, (2) CEO age, and (3) the proportion of foreign ownership. Utilizing data from 33 LQ45 companies between 2023 and 2024 (yielding 66 observations), the study employs Moderated Regression Analysis (MRA) with mean centering to mitigate potential multicollinearity issues. The empirical results indicate that only the presence of female directors significantly strengthens the positive relationship between ESG performance and firm value—as measured by Tobin's Q. Conversely, neither CEO age nor foreign ownership exhibits a statistically significant moderating effect. These findings provide empirical support for the Resource-Based View and Stakeholder Theory, positioning gender diversity on corporate boards as a strategic asset that enhances the credibility and effectiveness of ESG implementation. Furthermore, the insignificance of CEO age suggests that basic demographic characteristics may be insufficient to moderate the ESG-firm value nexus, while the lack of significance regarding foreign ownership implies that external pressure from global investors does not automatically translate into improved ESG-driven firm value within the Indonesian context. This research offers practical implications for firms to prioritize board diversity to maximize the returns on sustainability investments, and for regulators to reinforce policies promoting gender diversity within corporate governance structures. Finally, this study highlights the necessity of exploring additional moderating variables in future research.

The Impact of Green accounting, CSR Disclosure and Capital Structure on Financial Performance

2026-05-07T07:02:51+00:00

This study aims to analyze the effect of green accounting, CSR disclosure, and capital structure on financial performance, with firm size as a control variable, in consumer sector companies listed on the Indonesia Stock Exchange during the 2021 to 2024 period. This study uses a quantitative approach with a purposive sampling method and generates 276 observations. The data used are secondary data obtained from annual financial reports and sustainability reports. Data analysis was conducted using panel data regression with EViews 12. The results show that green accounting, CSR disclosure and capital structure through debt to asset ratio have an effect on financial performance. These findings indicate that environmental cost management, CSR Disclosure and financing structure play an important role in supporting corporate financial performance. On the other hand, capital structure through long term debt ratio has no effect on financial performance, indicating that long term devt ratio has not been able to make a significant contribution to the financial performance of consumer sector companies. Firm size, as a control variable, also has effect on financial performance, indicating that company size is a determining factor of financial performance. This study provides an empirical contribution by integrating green accounting, CSR disclosure, and capital structure into a single analytical model to explain the financial performance of consumer sector companies in Indonesia.

Pengaruh variabel ekonomi makro terhadap stabilitas indeks saham syariah Indonesia di bursa efek Indonesia

2026-02-24T03:58:58+00:00

This study aims to analyze the influence of macroeconomic variables on the Indonesian Sharia Stock Index (ISSI) on the Indonesia Stock Exchange (IDX) with an observation period of 2015-2020. The variables used include inflation, exchange rate, IDR/USD, BI interest rate, Money Supply (M2), world oil prices, Bank Indonesia Sharia Certificates (SBIS), and world gold prices. The data used are secondary quantitative data with a monthly frequency. The analytical method used is descriptive and inferential analysis to test the relationship between macroeconomic variables and ISSI movements. The results show that inflation and BI interest rates have a negative and significant effect, while the money supply and world oil prices have a positive and significant effect. SBIS has a positive but insignificant effect. The coefficient of determination value of 70.5% indicates that these macroeconomic variables are able to explain ISSI fluctuations substantially, while the remaining 29.5% is influenced by other factors outside the research model. These findings emphasize the importance of global and domestic macroeconomic factors in influencing the Islamic capital market. Therefore, investors are advised to pay attention to developments in inflation, exchange rates, oil prices, gold and other monetary indicators, as well as to consider the company's fundamental variables such as profitability, liquidity and growth before making investment decisions in Sharia stocks.

The Determinants of Tax Avoidance: Evidence from Indonesia’s Property and Real Estate Sector

2026-04-18T04:50:28+00:00

This study aims to analyze the determinants influencing tax avoidance practices among property and real estate sector companies in Indonesia. The variables examined include profitability, leverage, capital intensity, and financial distress as factors presumed to affect corporate tax decision-making. The focus of this study is grounded in the importance of understanding how financial and operational characteristics of companies, particularly within a sector characterized by high asset intensity and long business cycles, may influence the tendency toward aggressive tax planning. This study employs a quantitative approach based on secondary data drawn from the annual reports of companies listed on the Indonesia Stock Exchange (IDX) over the observation period of 2022 to 2024. The sample consists of 34 companies selected through purposive sampling. Empirical analysis was conducted using multiple linear regression to examine the relationships among variables, with the aid of SPSS software version 27. The results indicate that profitability has a positive effect on tax avoidance, while capital intensity has a negative effect. Meanwhile, leverage and financial distress do not exhibit a significant influence on tax avoidance. These findings suggest that not all financial indicators serve as relevant predictors of tax avoidance in the property and real estate sector in Indonesia.

The Influence of Corporate Social Responsibility, Debt to Equity Ratio, and Total Assets Turnover on Financial Performance of Manufacturing Companies in Indonesia

2026-05-11T08:54:20+00:00

This study aims to analyse the influence of Corporate Social Responsibility (CSR), Debt to Equity Ratio (DER), and Total Assets Turnover (TATO) on the financial performance of manufacturing companies listed on the Indonesia Stock Exchange during the 2017-2023 period. Financial performance is proxied by Return On Assets (ROA). The population of this study was all manufacturing companies listed on the Indonesian Stock Exchange. The sampling technique used was purposive, with criteria including manufacturing companies that published annual and sustainability reports consistently during 2017-2023 and had complete data for the variables studied. Based on these criteria, 36 manufacturing companies were obtained as the initial sample. After winsorizing extreme DER values and applying a logarithmic transformation, the final sample consisted of 33 companies with 94 unbalanced panel observations. The research method is quantitative, with panel data regression analysis conducted in eviews 12. The best model was selected using the Chow Test, Hausman Test, and Lagrange Multiplier Test, which indicated that the Random Effect Model (REM) was the most appropriate. The key findings indicate that CSR has a positive and significant effect on ROA (p = 0.0273 < 0.05), supporting stakeholder theory. Conversely, DER has a negative and significant effect on ROA (p = 0.0306 < 0.05), suggesting that sample companies have not used debt financing productively. Meanwhile, TATO has no significant effect on ROA (p = 0.0501 > 0.05). This study concludes that CSR and DER are significant determinants of financial performance in opposite directions. at the same time, TATO does not show a direct influence on profitability in the context of Indonesian manufacturing companies during the observation period.

Akuntabilitas Biaya Keluarga Dalam Penyelenggaraan Pernikahan Adat Bugis Berbasis Pencatatan Digital: Transformasi Manajemen Keuangan Menuju Era Ekonomi Digital

2026-03-06T18:24:00+00:00

The financial management of traditional Bugis weddings faces serious challenges: the complexity of traditional ceremonies, which involve many parties and funding sources, is not supported by an adequate record-keeping system, resulting in financial transparency, efficiency, and accountability within families often being neglected. This study aims to: (1) develop a user-friendly Excel-based family expense accountability model tailored to the Bugis cultural context; (2) design an integrated Excel template along with usage guidelines for digital recording of traditional weddings; and (3) evaluate the effectiveness of the Excel template’s implementation in enhancing transparency, efficiency, and accountability in family financial management. The study employed a mixed-methods approach with a sequential explanatory design, involving 60 respondents in the quantitative phase and 8 key informants in the qualitative phase, supported by two sessions of focus group discussions (FGDs) and participatory observation. Instrument validation showed that all items were valid (r = 0.766–0.903) and reliable (? = 0.692–0.872). Multiple regression results yielded a coefficient of determination R² = 0.710 (F = 26.462; p < 0.001), with perceived ease of use (PEOU) as the most dominant predictor (? = 0.283; p = 0.004). The study produced an eight-sheet Excel template designed based on Bugis traditional rituals, with an increase in the average accountability score

Pengaruh Financial Technology terhadap E-Service Quality Perbankan Nasional dengan Digital self-efficacy sebagai Variabel Moderasi

2026-04-19T03:07:06+00:00

The low level of e-banking adoption amid rapid digital development indicates issues in the adoption of technology-based financial services. Although Financial Technology and E-Service Quality have been shown to influence user behavior, the role of Digital Self-Efficacy as a moderating variable remains inconsistent in the literature. This study aims to examine the direct effects of financial technology and e-service quality on e-banking usage, as well as to test the moderating role of digital self-efficacy. The study employs a quantitative approach using primary data from 409 banking customers in South Sumatra selected via random sampling and analyzed using SEM-PLS. The results indicate that Financial Technology, E-Service Quality, and Digital Self-Efficacy have a positive and significant influence on e-banking usage, with E-Service Quality being the most dominant factor. However, Digital Self-Efficacy was not found to moderate this relationship. This study contributes to clarifying the role of digital self-efficacy as a direct variable and underscores the importance of digital service quality in enhancing e-banking adoption in developing countries.

Determinasi Profitabilitas Perusahaan Batu Bara: Peran Working Capital Turnover, Likuiditas, dan Struktur Modal

2026-05-13T17:13:14+00:00

This study examines the effects of working capital turnover, liquidity, also capital structure on the profitability of coal industry corporations listed on the IDX during 2021-2024. Previous studies have produced mixed findings and provided limited empirical evidence, particularly in the coal industry. Profitability, as a crucial metric of financial performance, may be influenced by how effectively companies manage working capital, liquidity, and determine their financing structure. In addition, Challenges facing the coal business include price volatility also regulatory changes that might affect profitability. All coal-related businesses that were listed on the IDX throughout the study period make up the population. Purposive sampling was used to choose 29 businesses, yielding 116 firm-year observations from companies that consistently published annual reports between 2021 and 2024. This investigation uses a quantitative methodology also secondary data from official IDX publications also yearly reports. Panel data regression using EViews 13 was used to examine the data after traditional assumption testing. The findings show that capital structure, liquidity, and working capital turnover simultaneously affect profitability at the same time. While working capital turnover and liquidity have little bearing on profitability, capital structure has a somewhat negative impact. These results imply that higher capital structure levels may reduce profitability. This research enriches the literature by offering updated empirical findings and emphasizing capital structure as a key determinant of profitability in the coal industry.

Determinan Keterlambatan Laporan Audit dengan Spesialisasi Industri Auditor sebagai Variabel Moderasi

2026-03-14T22:25:36+00:00

This study examines the determinants of audit report lag (ARL) by emphasizing the moderating role of auditor industry specialization in strengthening or weakening the relationship between audit tenure, earnings volatility, and investment opportunity set. This study addresses the inconsistency of prior findings by positioning auditor industry specialization as a contingent factor that may influence audit efficiency. This research utilizes a quantitative methodology and analyzes secondary data from companies in the basic materials sector that are listed on the Indonesia Stock Exchange (IDX) for the years 2021 to 2024. . The samples selected through purposive sampling method include 180 observational data analyzed by multiple linear regression and Moderated Regression Analysis (MRA) with the help of EViews software. The results show that audit tenure and earnings volatility have a negative effect on audit report lag, while investment opportunity set has no significant effect. More importantly, this study finds that auditor industry specialization only moderates the relationship between earnings volatility and audit report lag, but does not moderate the effects of audit tenure and investment opportunity set. These findings highlight that the effectiveness of auditor industry specialization is contingent upon the complexity of financial information, particularly earnings volatility. The novelty of this study lies in providing empirical evidence that auditor specialization does not universally act as a strengthening mechanism, but rather operates selectively depending on the characteristics of the audited variable. This study contributes to the audit literature by clarifying the conditional role of auditor industry specialization and provides practical implications for auditors, regulators, and firms in improving audit timeliness

Fraud Hexagon sebagai Determinan Fraudulent Financial Statement dengan Proksi Beneish M-Score pada Perusahaan Properti dan Real Estate

2026-04-28T22:06:25+00:00

This research aims to examine the determinants of fraudulent financial statements by analyzing the elements of Fraud Hexagon Theory through the Beneish M-Score approach in property and real estate companies listed on the Indonesia Stock Exchange (IDX) during the period 2021–2024. This research employs a quantitative approach using a purposive sampling method, resulting in 170 data observations. The data were analyzed using binary logistic regression with the assistance of SPSS version 25 to determine the probability of Fraud Hexagon Theory having a significant effect on fraudulent financial statements. The results indicate that financial stability and change of director have a significant positive effect on fraudulent financial statements, while nature of industry, change of auditor, CEO duality, and political connection do not have a significant effect. These findings suggest that financial pressure and changes in leadership structure are dominant factors in the occurrence of fraudulent financial statements in the property and real estate sector during the study period

Fenomenologi Mental Accounting Dalam Pengelolaan Keuangan Rumah Tangga Pada Masyarakat Kota Sampit

2026-05-20T04:38:47+00:00

This exploratory qualitative research using a phenomenological approach aims to uncover the role of accounting implementation and the contribution of mental accounting in household financial management practices in the community of Kota Sampit. The phenomenon of financial failure in households, which often triggers high divorce rates due to economic motives, is a crucial background for this study. Data were collected through in-depth interviews with five married informants with varying occupational backgrounds and income sources. Data analysis was conducted using non-statistical methods including data reduction, data presentation, and conclusion drawing. The results show that the application of accounting principles in the form of consistent cash flow recording has a direct positive impact on economic growth and family stability. Families that make financial decisions based on financial records have a clear planning direction, experience an improved quality of life, and are able to anticipate unnecessary consumptive expenses. Conversely, financial management that relies purely on intuition without record-keeping is prone to wasteful behavior and dependence on digital debt (paylater). Furthermore, the construction of mental accounting, manifested through the classification of budget items and psychological flexibility in revising expenses, has proven to act as an effective early warning system. Amid economic uncertainty caused by logistical constraints and global inflationary pressures, mental accounting skills are a lifeline for people's purchasing power and maintain household harmony. Self-control, practical accounting literacy, and transparency between husband and wife are key factors in creating strong family financial resilience.

Profitabilitas, Leverage, dan Kepemilikan Institusional: Efek Moderasi Ukuran Perusahaan terhadap Nilai Perusahaan

2026-06-16T18:18:15+00:00

This study aims to analyze the effect of profitability (ROA), institutional ownership (KI), and leverage (DAR) on firm value (PBV) with firm size (Size) as a moderating variable. The population is primary consumer goods sector companies listed on the Indonesia Stock Exchange. Using purposive sampling, 28 companies were selected as samples during the 2018-2023 period (total 168 observations). The analysis technique used is panel data regression with the Fixed Effect Model (FEM) estimated using robust standard errors to address heteroscedasticity and autocorrelation. The results show that profitability (ROA) and leverage (DAR) have a positive and significant effect on firm value, while institutional ownership (KI) and firm size (Size) have no significant effect. In the moderation test, firm size proves to strengthen the effect of profitability on firm value but fails to moderate the effect of institutional ownership and leverage on firm value. These findings indicate that investors prioritize the company's ability to generate profits and manage debt over institutional ownership mechanisms when assessing firm value, particularly in the defensive sector in developing markets such as Indonesia.

Pengaruh Koneksi Politik & Leverage Terhadap Manajemen laba Pada Perusahaan KOMPAS100: Peran Jumlah Direksi Dan Komisaris Sebagai Variabel Kontrol

2026-05-29T13:52:22+00:00

This study examines how political connections and leverage in KOMPAS100 companies from 2021 to 2024, using directors and commissioners as control variables. There is still the phenomenon of earnings management activities in public company entities, which risks reducing investor confidence in their financial reporting. Agency theory reveals that differences in objectives between management and shareholders can be a factor that triggers the occurrence of earnings management actions. The study applied a descriptive research design supported by a quantitative approach. The data used in this study are secondary data derived from the annual reports of companies included in the KOMPAS100 index and listed on the Indonesia Stock Exchange. Through purposive sampling techniques, 188 observation data were obtained from 47 companies. To test the data, data processing was carried out through fixed-effect-based panel regression analysis. From the test results, political connections and leverage were not proven to be factors influencing earnings management. The control variables related to the number of directors and commissioners were not found to significantly influence earning management practices. The research findings show that political connections, leverage, and the number of directors and commissioners do not affect earnings management.