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Journal of Accounting and Investment

ai
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Published by Universitas Muhammadiyah Yogyakarta

ISSN : 26223899 EISSN : 26226413 DOI : 10.18196/jai

Core Subject : Economy,

Economics, Econometrics & Finance

JAI receives rigorous articles that have not been offered for publication elsewhere. JAI focuses on the issue related to accounting and investments that are relevant for the development of theory and practices of accounting in Indonesia and southeast asia especially. Therefore, JAI accepts the articles from Indonesia authors and other countries. JAI covered various of research approach, namely: quantitative, qualitative and mixed method.

Arjuna Subject : -

Articles 11 Documents

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Search results for , issue "Vol 22, No 3: September 2021" : 11 Documents clear

Disclosure of Corporate Social Responsibility, Company Performance, and Corporate Reputation as the Mediating Role: Indonesian Context Wuryan Andayani
Journal of Accounting and Investment Vol 22, No 3: September 2021
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Research aims: This study aims to provide new empirical evidence regarding CSR practices and their impacts on firm performance and corporate reputation in the context of a developing country region, namely Indonesia.Design/Methodology/Approach This research samples were 70 companies listed on the Indonesia Stock Exchange with five years of observation. This study used secondary data, which already exists and was obtained from the Indonesia Stock Exchange's official website. Also, Partial Least Square was employed to test the hypothesis's parameter estimates.Research findings: The results revealed that CSR disclosure could improve firm performance but could not increase corporate reputation. Thus, companies that carry out CSR activities and pay attention to stakeholders mean that they (employees, customers, suppliers, investors, etc.) will contribute to the company’s economic performance. The results of this study also uncovered that the level of investor awareness of corporate reputation was still low. Investors were only oriented to short-term investments and did not care about the long-term viability of the company. It showed that corporate reputation did not fully mediate the relationship between CSR disclosure and company performance.Theoretical contribution/Originality: As this study develops scientific research in the fields of CSR, corporate performance, and corporate reputation as the mediating role, the findings of this research support the stakeholder theory that a company not only increases profits but also should be accountable to all stakeholders. Besides, corporate reputation partially mediated the relationship between CSR and firm performance. It indicated that in Indonesia, concern for corporate reputation was still low.

The Role of Organization Strategy and Management Accounting Innovations on Cost Performance: The Case of Higher Education Institutions Evi Marlina; Bambang Tjahjadi
Journal of Accounting and Investment Vol 22, No 3: September 2021
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Research aims: This study aims to examine the effect of organizational strategy and management accounting innovations (MAI) on cost performance of private Higher Education Institutions (HEIs). Also, this study investigates the management accounting innovations as mediating variable.Design/Methodology/Approach: This study is quantitative research with a survey approach. This study was conducted by involving HEI located in several provinces in Sumatera Island, Indonesia, covering West Sumatra, Riau, Riau Islands, and Jambi. The research respondents were the head of the HEIs’ finance department. Data analysis utilized Structural Equation Model with Partial Least Square approach (SEM-PLS).Research findings: The results showed that HEI strategy and MAI had a positive direct effect on cost performance. However, management accounting innovations could not be mediating variable.Theoretical contribution/Originality: This study contributes to research areas related to strategy, management accounting innovations, and cost performance in HEI sector.Practitioner/Policy implication: Effectiveness and efficiency in managing HEIs funds requires a strategy and management accounting innovations.Limitation/Implication: The research only included HEIs located in the areas of West Sumatra, Riau, Riau Islands, and Jambi.

Measuring Impact of the Accrual Accounting Implementation on Fiscal Transparency Quality: A Mixed Methods Study in Indonesia Donny Maha Putra; Wiwit Apit Sulistyowati
Journal of Accounting and Investment Vol 22, No 3: September 2021
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Research aims: This study aims to measure the correlation between the Indonesian government accounting system's accrual basis and fiscal transparency quality. Furthermore, this study deepens the research results through focus group discussion (FGD) at Line Ministries.Design/Methodology/Approach: This study used a mixed methods, in which the quantitative approach employed a questionnaire instrument, while the qualitative approach utilized interviews and FGD. This study involved 149 respondents at the accounting unit based on the purposive sampling technique, using questionnaire instruments and interviews with 77 users. Also, this study utilized Structural Equation Modelling (SEM), and the data were then processed through LISREL 8.8 statistical software.Research findings: This study proved that accruals' implementation had a significant positive impact on the quality of government fiscal transparency. The FGD results revealed that accrual accounting practices still referred to the government accounting standards. Meanwhile, the quality of fiscal transparency had been reviewed in advance by the auditor team, and the auditor's recommendations were taken into consideration in determining strategic decisions by estimating the potential risks that would arise.Theoretical contribution/Originality: This study contributes to an extended approach by examining the effect of the accrual accounting application’s effectiveness on the quality of government fiscal transparency. In addition, this study strengthens previous studies by using qualitative approaches through FGD involving units related to institutions and ministries. Therefore, this study’s results provide empirical evidence, which is theoretically very limited.Practitioner/Policy implication: This study contributes as an academic reference to improvements in developing a policy model for the accrual implementation in the government accounting system, especially in Indonesia.Research limitation/Implication: Respondent data for interviews is still limited to the managerial level. Therefore, to obtain more in-depth results, the subsequent study can be conducted at the operational level.

A Critical Review of Statement of Government Accounting Standard (SGAS) Regarding Accounting for Investment Irwan Taufiq Ritonga
Journal of Accounting and Investment Vol 22, No 3: September 2021
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Research aims: This article aims to provide a critical review of the Statement of Government Accounting Standard (SGAS) of Indonesia regarding Accounting for Investment (2016 Revision)Design/Methodology/Approach: This article is a critical review, which criticism seen from a philosophical and theoretical point of view.Research findings: There are five issues that need improvement so that SGAS Accounting for Investment becomes better. The five issues are the definition of government investment that is not in line with the vision of government organizations, inconsistency between investment definition and accounting treatment of investment proceeds, lack of comprehensive accounting treatment for negative investment value, inconsistency between investment definition and disclosure terms, inaccuracy of diction or grammar choice, and incomplete glossary.Theoretical contribution/Originality: the arguments presented in this article can be used by scholars who focus on government accounting to develop a theory of government accounting.Practitioner/Policy implication: Findings of this study can be inputs for the Government Accounting Standard Committee (GASC) to improve government accounting standards in Indonesia, especially SGAS of Accounting for Investment.

Do Corporate Social Responsibility and Investor Protection Limit Earnings Management? Evidence from Indonesia and Malaysia Muliati Muliati; Arung Gihna Mayapada; Abdul Pattawe
Journal of Accounting and Investment Vol 22, No 3: September 2021
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Research aims: This study aims to investigate the effect of corporate social responsibility on earnings management by considering the impact of investor protection.Design/Methodology/Approach: This study’s population was plantation companies listed in Indonesia Stock Exchange and Malaysia Stock Exchange. The period of this study was from 2012 to 2017. Moreover, the hypotheses testing technique used was multiple regression analysis.Research findings: This study’s results revealed that corporate social responsibility disclosure and investor protection significantly affected earnings management.Theoretical contribution/Originality: These results support the ethics hypothesis stating that companies committed to ethics view earnings management unethical behavior. This study also verifies the relationship between legal systems and earnings management.

The Role of Islamic Corporate Governance and Risk toward Islamic Banks Performance: Evidence from Indonesia Emile Satia Darma; Akhsyim Afandi
Journal of Accounting and Investment Vol 22, No 3: September 2021
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Research aims: This study aims to analyze the role of Islamic corporate governance mechanisms on the performance of Islamic banks. Besides, it also analyzes the effect of risk profiles, especially those that are directly related to bank financing, on the performance of Islamic banks.Design/Methodology/Approach: Islamic banks that become the objects are Sharia Commercial Banks (SCB) and Sharia Business Units of Conventional Banks (SBU). This study uses data from 20 Islamic banks (11 SCB and 9 SBU). The analytical tool used in this study is panel data regression.Research findings: The results show that the meeting frequency of the Board of Commissioners (BC), Sharia Supervisory Board (SSB), Financing to Deposits Ratio (FDR), and bank size have a significant positive effect on the performance of Islamic banks. Non-Performing Financing (NPF) has a significant negative effect on the performance of Islamic banks.Theoretical contribution/Originality: This study utilized Stakeholders theory, Maqashid Sharia concept, and corporate governance to investigate the role of Islamic corporate governance mechanisms and risk management on Islamic banks performance.Practitioner/Policy implication: The implication of this study is that SSB activities had a direct and robust influence on Islamic banks, which have relatively larger assets. Hence, the task of the Sharia Supervisory Board should not be limited to only monitoring the conformity of transactions with sharia but also providing input so that banks can increase their profits in line with sharia.Research limitation/Implication: The limitation in this study is the number of corporate governance variables that was limited.

The Effect of Board and Ownership Structure on the Possibility of Financial Distress Joanne Jovita Jodjana; Sherin Nathaniel; Rinaningsih Rinaningsih; Titin Pranoto
Journal of Accounting and Investment Vol 22, No 3: September 2021
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Research aims: This study aims to examine the effect of corporate governance, specifically relating to the ownership structure and board structure, on the possibility of financial distress.Design/Methodology/Approach: The sample used in this study are companies listed on the Indonesia Stock Exchange (IDX) from 2015 to 2019, excluding the financial industry. Conditional logistic regression is used as the study uses paired data based on the total assets of the company.Research findings: The results of this study indicate that board ownership, independent commissioners, and the board of directors can increase the likelihood of financial distress. On the other hand, institutional ownership and concentrated ownership are proven to have no effect on the likelihood of financial distress. The results of sensitivity testing using logistic regression showed different results on the variable institutional ownership, which is that institutional ownership can increase the likelihood of financial distress. Meanwhile, the other variables showed the same outcome as the main regression used in this study.Theoretical contribution/Originality: This study contributes to the knowledge on the relationship of board ownership, institutional ownership, concentrated ownership, independent commissioners and board size and the possibility of financial distress. Also, this research found that the provision of incentives in the form of shares to the board may not be an effective way to overcome financial distress in Indonesian firms.

The Evaluation of Performance Indicators Development: A Study on Indonesian Financial Transaction Report and Analysis Center (PPATK) Dedy Kurniawan; Rusdi Akbar
Journal of Accounting and Investment Vol 22, No 3: September 2021
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Research aims: This research aims to evaluate the development of performance indicators using the performance blueprint analysis tools and know what factors are instrumental in the development of performance indicators for public organizations in Indonesia using Institutional Isomorphism point of view.Design/Methodology/Approach: The study comprised qualitative research undertaken at one public organization, the Indonesian Financial Transaction Reports and Analysis Center (PPATK) in Jakarta.Research findings: This study revealed that the PPATK business process was still not optimally aligned with the performance blueprint analysis tools. This study also uncovered eleven factors that play a role in the development of performance indicators: mindset, business process, comfort zone, technical competence, regulation, activity plan, process, drafting, management commitments, monitoring and evaluation, reward and punishment, and performance data management.Theoretical contribution/Originality: This study contributes to knowledge of the institutional isomorphism’s influence, primarily normative isomorphism at a public organization. Also, this research is the first research to use the performance blueprint more thoroughly, with six types of analysis.Practitioner/Policy implication: This study has implications for ministries/institutions and regulatory agencies to implement the performance blueprint in the development process of performance indicators.Research limitation/Implication: The limitations of this study are that the results of the performance blueprint analysis tools did not yet have the criteria as the basis for assessment of findings, and this research only employed a qualitative method; therefore, the resultant conclusions are still minimum.

Fraud Pentagon and Fraudulent Financial Reporting: Evidence from Manufacturing Companies in Indonesia and Malaysia Fathmaningrum, Erni Suryandari; Anggarani, Gupita
Journal of Accounting and Investment Vol 22, No 3: September 2021
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Research aims: This study aims to examine the influence of fraud pentagon concept on fraudulent financial reporting.Design/Methodology/Approach: This studyâ€™s population was manufacturingcompanies listed in Indonesia Stock Exchange and Malaysia Stock Exchange. 120 manufacturing companies in Indonesia and 118 manufacturing companies in Malaysia were involved as samples. The data analysis method used in this study is multiple linear regression.Research findings: The results showed that financial target, financial stability, quality of external auditor, external pressure, and nature of industry variables influenced fraudulent financial reporting. In contrast, personal financial need, ineffective monitoring, change in auditor, change in director, and frequent number of CEOâ€™s pictures variables had no effect on fraudulent financial reporting. For Indonesia, it was found that financial target, financial stability, and the quality of external auditor influenced fraudulent financial reporting. While, in Malaysia, the results showed that financial stability, external pressure, and nature of industry variables influenced fraudulent financial reporting in Malaysia.Theoretical contribution/Originality: These results support the financial target and quality of external auditor hypothesis in Indonesia, financial stability hypothesis in Indonesia and Malaysia, external pressure and nature of industry hypotheses in Malaysia, stating that fraud pentagon factors affect fraudulent financial reporting. It is also proved that there are different levels of fraudulent financial reporting in Indonesia and Malaysia. Indonesia has fraudulent financial reporting cases higher than Malaysia.

An Analysis of the Scope Variations in Intellectual Capital Disclosure: Perspectives of Indonesian State Universities Ahmad Juanda; Setu Setyawan; Dwi Irawan; Lia Candra Inata
Journal of Accounting and Investment Vol 22, No 3: September 2021
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Research aims: This study aims to examine and analyze the differences in intellectual capital disclosure between Indonesian state universities.Design/Methodology/Approach: The data comprises all state universities listed in 4ICU (4 International Colleges University) in 2020. To analyze the data, the researchers used content analysis and the independent sample t-test. This study used three indicators (location, number of applicants, and number of study programs) to analyze the differences in intellectual capital disclosure between state universities in Indonesia.Research findings: The study results show scope variation in intellectual capital disclosure based on location and number of applicants. However, based on the number of study programs, no variation was found.Theoretical contribution/Originality: The scope variation in intellectual capital disclosure between Indonesian state universities, especially regarding the indicators such as study programs and locations, is a rare topic of study. It is compelling and requires further study.Practitioner/Policy implication: This study is potentially relevant to academicians, researchers, and stakeholders. By analyzing the scope variation in intellectual capital disclosure between Indonesian state universities using three indicators, this study provides insight on the importance of delivering information about universities to the public to improve credibility and attract more applicants.

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