Journal of Accounting and Investment
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.
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<![CDATA[The influence of islamic capital market literacy toward intention to invest in islamic capital market: Does risk perception mediate the relationship? ]]>
<![CDATA[Mohamad Bastomi]]>;
<![CDATA[Dwiyani Sudaryanti]]>
<![CDATA[ Journal of Accounting and Investment Vol 25, No 1: January 2024 ]]>
Publisher : <![CDATA[Universitas Muhammadiyah Yogyakarta, Indonesia ]]>
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DOI: 10.18196/jai.v25i1.19630
<![CDATA[Research aims: This study was motivated by the limited study on the Islamic capital market, mainly in the behavioral finance field. Moreover, the incongruity findings in prior research investigations suggest additional exploration to elucidate the correlation between literacy and investing intention. This study, therefore, aims to clarify financial literacy roles in investment intention as mediated by risk perception. Specifically, the effect of Islamic capital market literacy on the intention to invest in the Islamic capital market was scrutinized.Design/Methodology/Approach: The present study employed quantitative methodology to address the issue under investigation. The study's sample was comprised of 200 respondents from the Generation Z investor population residing in Malang City. The research instrument used a set of seven Likert scales. The present study also utilized Partial Least Squares Structural Equation Modelling (PLS-SEM) for data analysis.Research findings: The research findings uncovered that Islamic capital market literacy affected risk perception and investment intention, and risk perception had a direct effect on investment intention. In addition, risk perception also successfully mediated the effect of capital market literacy on Gen Z's investment intention in the Islamic capital market.Theoretical contribution/Originality: This research has made a valuable contribution to the existing body of Islamic capital market literature, which has received limited attention. The research highlights the significance of Islamic capital literacy and establishes a favorable perspective of risk as a practical aspect. The results also have valuable input for the government in developing policies that promote increased involvement of young individuals in investing activities by enhancing literacy levels. Practitioner/Policy implication: The research highlights the significance of establishing a favourable perspective of risk as a practical aspect. The results of this study can be a helpful asset for governmental organisations seeking to develop policies that promote increased involvement of young individuals in investing activities by enhancing literacy levels. Research limitation/Implication: Nevertheless, one problem identified in this study is the lack of differentiation between respondents based on their level of literacy and the duration of their engagement. This aspect holds significant importance in influencing an individual's perception of risk.]]>
<![CDATA[Investigating the moderating role of past behavior in the relationship between risk aversion and investment choice in the Tehran stock market ]]>
<![CDATA[Hamid Alvari Chenari]]>;
<![CDATA[Kazem Haroonkolaee]]>
<![CDATA[ Journal of Accounting and Investment Vol 25, No 1: January 2024 ]]>
Publisher : <![CDATA[Universitas Muhammadiyah Yogyakarta, Indonesia ]]>
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DOI: 10.18196/jai.v25i1.20549
<![CDATA[Research aims: The possibility of damaging factors such as risk aversion and past behavior when making investment choices is very high. Therefore, it is crucial to identify and measure risk aversion and the influence of people's past behavior in different conditions of certainty and uncertainty on investors' decisions in the market. The primary goal of this research, which has remained hidden from the perspective of many researchers, is to investigate the moderating effect of past behavior (experiences) on the relationship between risk aversion and investment choice among investors of the Tehran Stock Exchange.Design/Methodology/Approach: Considering the unlimited population size, Morgan's Table was used for sampling, and the sample size for the unlimited population according to Morgan's Table is 384 people. Therefore, 384 community members were selected as samples. The collected data were then analyzed through SPSS and SMART-PLS software, and research hypotheses were investigated using structural equation modeling.Research findings: The results obtained from the research demonstrated that the risk aversion factor yielded a positive and statistically significant effect on investment choice. In contrast, the factor of past behavior (experiences) generated a negative and statistically significant effect on the relationship between risk aversion and investment choice.Theoretical contribution/Originality: This study provides information on how to earn returns for investors and increase the efficiency of securities markets. In addition, there has been minimal research into this field in Iran.Practitioner/Policy implication: The results of this research provide for investors to pay attention to the impact of market efficiency and the optimal and desired use of available resources.Research limitation/Implication: Among the most important limitations, three things can be mentioned: (a) society's lack of familiarity with academic research, (b) failure to provide more variables, and (c) due to some characteristics of the respondents, generalizing the results to other populations must be approached with caution.]]>
<![CDATA[The influence of islamic banking digital service quality on intention to continue using islamic banking: a case of Indonesia ]]>
<![CDATA[Nadia Rahma]]>;
<![CDATA[Hafiez Sofyani]]>
<![CDATA[ Journal of Accounting and Investment Vol 25, No 1: January 2024 ]]>
Publisher : <![CDATA[Universitas Muhammadiyah Yogyakarta, Indonesia ]]>
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DOI: 10.18196/jai.v25i1.18841
<![CDATA[Research aims: Technological advances impact every aspect of daily life, including in Islamic banking. To keep its customers, the Islamic banking industry continues improving the quality of its digital services. Using the DBSQual model, this research aims to examine the quality of Islamic banking digital services, which encompasses seven dimensions: application architecture, application efficiency, responsiveness, user-friendliness, security, reliability, and personalization, towards the intention to continue using Islamic banking.Design/Methodology/Approach: The population of this research was Islamic bank customers in Indonesia. The sample was then selected based on the criteria of Islamic bank customers using mobile banking services. Data collection was carried out by distributing questionnaires developed from previous research. To validate the questionnaire, consultations were conducted with four survey accounting experts. Also, a pilot study was performed. Hypothesis testing was then done using the Structural Equation Modelling technique based on Partial Least Square (PLS-SEM).Research findings: The results demonstrated that three dimensions of digital service quality significantly influenced the intention to continue using Islamic banks, namely application efficiency, security, and reliability. Meanwhile, the dimensions of application architecture and responsiveness had no effect.Theoretical contribution/Originality: This study covers the gap related to empirical studies that examine the role of digital service quality development on intentions to continue using Islamic banking services.]]>
<![CDATA[Information technology and higher education institutions (HEI) performance: the mediating role of organizational capability ]]>
<![CDATA[Evi Marlina]]>;
<![CDATA[Nadia Faturrahmi Lawita]]>
<![CDATA[ Journal of Accounting and Investment Vol 25, No 1: January 2024 ]]>
Publisher : <![CDATA[Universitas Muhammadiyah Yogyakarta, Indonesia ]]>
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DOI: 10.18196/jai.v25i1.20591
<![CDATA[Research aims: This study aims to examine the effect of Information Technology (IT) on the performance of Higher Education Institutions (HEIs) in Indonesia. Also, this study investigates organizational capability as a mediating variable.Design/Methodology/Approach: This research was conducted at HEIs covering all regions in Indonesia, namely Sumatra, Java, Kalimantan, Sulawesi, Nusra, and Bali, as well as Papua. The research sample was 368 HEIs. The data were obtained by distributing questionnaires, and hypothesis testing was conducted using the Partial Least Square (PLS) method. Research findings: The study revealed that IT positively affected organizational capability and HEI performance. Organizational capability yielded a positive effect on HEI performance. Furthermore, organizational capability mediated the effect of IT on HEI performance.Theoretical contribution/ Originality: This study contributes to the research area dealing with IT, HEIs performance, and organizational capability as a mediating variable. Practitioner/Policy implication: HEI managers should improve their IT resources to enhance organizational capability, thereby improving organizational performance.Limitation/Implication: The limitation of the study is that the data collection only used questionnaires, so the information obtained was not in-depth.]]>
<![CDATA[Standardized corporate social responsibility disclosure, assurance, and real earnings management: evidence from developing countries ]]>
<![CDATA[Eko Budi Santoso]]>;
<![CDATA[Basuki Basuki]]>;
<![CDATA[Isnalita Isnalita]]>
<![CDATA[ Journal of Accounting and Investment Vol 25, No 1: January 2024 ]]>
Publisher : <![CDATA[Universitas Muhammadiyah Yogyakarta, Indonesia ]]>
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DOI: 10.18196/jai.v25i1.20292
<![CDATA[Research aims: This study aims to present empirical evidence on the effect of social responsibility disclosure on real earnings management and the role of assurance in this relationship. This is based on a paradox, i.e., companies that publish standardized corporate social responsibility disclosures to project ethical business practices are also associated with accounting and financial scandals.Design/Methodology/Approach: This study was conducted on non-financial sector companies in developing countries that are members of ASEAN-4, namely Indonesia, Malaysia, Thailand, and the Philippines, which issued GRI-based social responsibility disclosures in the period 2013-2019, amounting to 285 companies with a total of 859 observations.Research findings: The results demonstrated that companies with standardized social responsibility disclosures tend to reduce their real earnings management practices. However, the assurance variable mitigates the negative effect of corporate social responsibility on real earnings management, implying that assurance provides false credibility. In an additional analysis, the samples were grouped based on board structure. The findings of this study are consistent with two-tier board structures, suggesting that a one-tier system provides better information quality.Theoretical contribution/Originality: The originality of this study lies in a comprehensive measurement of social responsibility disclosure variables using an index that gauges a combination of accountability and performance aspects. Furthermore, this study takes into account assurance as a variable representing the credibility of information, which surprisingly moderates the negative effect of social responsibility disclosure on real earnings management.Practitioner/Policy implication: The findings of this study underscore the importance of standardized social responsibility disclosure in mitigating managerial opportunistic behavior. The findings also highlight the need to enhance the assurance function to prevent its use as an opportunistic management tactic. ]]>
<![CDATA[Determinants of tax compliance behavior among central Java SMEs: The mediating role of intention to comply ]]>
<![CDATA[Hikmah Hikmah]]>;
<![CDATA[Andalan Tri Ratnawati]]>;
<![CDATA[Susetyo Darmanto]]>
<![CDATA[ Journal of Accounting and Investment Vol 25, No 1: January 2024 ]]>
Publisher : <![CDATA[Universitas Muhammadiyah Yogyakarta, Indonesia ]]>
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DOI: 10.18196/jai.v25i1.20226
<![CDATA[Research aims: This study aims to prove the effect of tax compliance attitude, subjective norms, and perceived financial performance on the intention to comply. Furthermore, the study analyzes the effect of perceived financial performance and intention to comply with tax compliance behavior.Design/Methodology/Approach: This study used a quantitative approach with primary data from distributing questionnaires. The samples collected were 150 SMEs of Semarang City, Semarang Resident, Demak, and Kendal. The data were then analyzed employing Structural Equation Modeling calculated by Amos version 22.Research findings: Empirical findings demonstrated that attitudes toward tax compliance, subjective norms, and perceived financial performance positively influenced the intention to comply. Furthermore, perceived financial performance and intention to comply positively contributed to compliance behavior.Theoretical contribution/ Originality: This theoretical implication integrates the Theory of Planned Behavior and perceived financial performance as an alternative to perceived behavioral control.Practitioner/Policy implication: This study concludes that intention to comply provides a mediating role in the determinants of tax compliance.Research limitation/Implication: This research was limited by the unavailability of accurate data regarding the number of SMEs in Central Java, so sample calculations could not be done using a statistical approach. Future research is recommended to replicate this model in large companies by adding government policy as a moderating role in attitudes, subjective norms, and financial performance.]]>
<![CDATA[Implementation of the Altman z-score model in predicting bankruptcy at PT. Garuda Indonesia, Tbk. ]]>
<![CDATA[Eva Sriwiyanti]]>;
<![CDATA[Djuli Sjafei Purba]]>;
<![CDATA[Dendi Wahyudi]]>;
<![CDATA[Wico Jontarudi Tarigan]]>;
<![CDATA[Resna Napitu]]>
<![CDATA[ Journal of Accounting and Investment Vol 25, No 1: January 2024 ]]>
Publisher : <![CDATA[Universitas Muhammadiyah Yogyakarta, Indonesia ]]>
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DOI: 10.18196/jai.v25i1.20223
<![CDATA[Research aims: This study aims to forecast Garuda Indonesia’s bankruptcy rate using the Altman Z-Score model analysis tool based on financial statement data for the 2012-2021 period.Design/Methodology/Approach: A quantitative description method was used, with data sources from the Garuda Indonesia website.Research findings: Based on the data analysis, Garuda Indonesia was in a "gray area" or financial difficulty in the overall observation year.Theoretical contribution/Originality: Since 2020, Garuda Indonesia has implemented a statement of financial accounting standards (PSAK 73) on lease regulations. According to Institute of Indonesia Chartered Accountants (IAI, 2022), the objective of PSAK 73 on leases is to determine the principles for recognizing, measuring, presenting, and disclosing leases and determine whether the lessee and lessor provide relevant data with a method that presents transactions appropriately. PSAK 73 on leases categorizes assets from finance leases designated as right-of-use assets as part of property, plant, and equipment and lease liabilities as part of long-term liabilities that appear in the statement of financial position. Following the Institute of Indonesia Chartered Accountants (2022), right-of-use assets describe the tenant's right to use assets granted by the lessor to the lessee during the lease term.Research limitation/Implication: This research has limitations since the reference sources only came from research journals conducted at manufacturing and service companies in Indonesia and researched by Indonesian researchers. The data studied was only for the last 10 years (2012-2021) and during that time the 2019 Covid pandemic occurred, resulting in a lockdown which caused the number of domestic and international flights to Indonesia to decrease drastically.]]>
<![CDATA[The effect of COVID-19 and CEO tenure on environmental and social disclosure scores ]]>
<![CDATA[ Journal of Accounting and Investment Vol 25, No 1: January 2024 ]]>
Publisher : <![CDATA[Universitas Muhammadiyah Yogyakarta, Indonesia ]]>
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DOI: 10.18196/jai.v25i1.20376
<![CDATA[Research aims: The study aims to understand the effect of COVID-19 and the tenure of Chief Executive Officers (CEOs) on environmental and social disclosure scores.Design/Methodology/Approach: The research sample included listed Indonesian firms, excluding those in the financial sector, for 2015-2021. The samples were analyzed by cross-sectional data regression and controlled by corporate governance mechanisms proxied by the number of women and independent Boards of Commissioners, leverage, size, profitability, and growth opportunity proxied by price-to-book-value ratio and capital-expenditure-to-depreciation ratio.Research Findings: The COVID-19 pandemic has positively affected environmental and social disclosure scores. While CEO tenure negatively affected social disclosure scores, its effect on environmental disclosure scores was statistically insignificant.Theoretical Contribution/Originality: The study provides empirical evidence on the progression of change in environmental and social disclosure scores triggered by COVID-19.Practitioner/Policy Implications: CEOs need to be persuaded and incentivized to increase their firms’ commitment to enhancing social performance and disclosure scores after COVID-19.Research Limitation/Implications: The effect of the COVID-19 pandemic and CEO tenure on environmental and social disclosure scores from firms with high stock market capitalization were analyzed. The data did not yet consider the medium and small stock market capitalization firms.]]>
<![CDATA[Crowdfunding from the perspective of young people ]]>
<![CDATA[Ignatius Novianto Hariwibowo]]>
<![CDATA[ Journal of Accounting and Investment Vol 25, No 1: January 2024 ]]>
Publisher : <![CDATA[Universitas Muhammadiyah Yogyakarta, Indonesia ]]>
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DOI: 10.18196/jai.v25i1.20385
<![CDATA[Research aims: This study aims to identify the dominant factors that make young people interested in joining or using crowdfunding platforms.Design/Methodology/Approach: This research was conducted using the topic method or text analysis with the Social Network Analysis (SNA) approach. Data in the study were obtained by distributing questionnaires to 201 respondents who were young people aged 19 to 22 years.Research findings: The results of this study revealed that the dominant factors attracting young people to use crowdfunding include web technology, ease of use, high rate of return, transparency, and legality. The results of this study indicate that convenience is the primary attraction for young people in transactions. Theoretical contribution/Originality: The results of this study offer indicators that can be used to measure, in particular, the usability variables of web-based crowdfunding platforms in TAM (Technology Acceptance Model). These indicators encompass the amount of return, clarity of business fields and objectives, and transaction security. As for the variables of ease of use, among others, clarity of navigation and information on the web makes users comfortable.Practitioner/Policy implication: The findings of this study imply that Web 2.0 has become a suitable way of interacting with young people. Hence, crowdfunding platform websites need to be designed to support ease of transactions. However, accountability, transparency, clarity of effort, reciprocity, and legality can be effective campaign methods to attract young people to contribute to crowdfunding. Research limitation/Implication: This study used researchers' judgment to interpret the meaning and the relationship between keywords in sentences submitted by respondents in questionnaires.]]>
<![CDATA[Environmental accounting in public sector: systematic literature review ]]>
<![CDATA[Evi Rahmawati]]>;
<![CDATA[Ietje Nazaruddin]]>;
<![CDATA[Harjanti Widiastuti]]>;
<![CDATA[Hafiez Sofyani]]>;
<![CDATA[Arif Wahyu Nur Kholid]]>
<![CDATA[ Journal of Accounting and Investment Vol 25, No 1: January 2024 ]]>
Publisher : <![CDATA[Universitas Muhammadiyah Yogyakarta, Indonesia ]]>
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DOI: 10.18196/jai.v25i1.21344
<![CDATA[Research aims: The literature on Environmental Accounting (EA) in the public sector is scarce, unlike in the private sector. Hence, this study aims to ascertain the trajectory of EA research in the public sector and extract insights from prior research on EA in the public sector.Design/Methodology/Approach: The research process was conducted in several stages following Anggraini et al. (2022) and Poje et al. (2022) with several modifications. The keywords were used to discover the articles relating to the topic, namely: “Environmental Reporting,” “Environmental Management,” or “Environmental Accounting,” “Green Accounting,” and “Public Sector”. The study employed an extended period, namely papers published in 2010-2023 in the database Scopus.com. Based on the specified criteria, the final paper that could be analyzed was 69 out of 112 articles.Research findings: Using VOS-viewer, 15 items of keyword themes were discovered. Then, the 15 items were classified into three clusters: Green Accounting, Environmental Regulation, and Sustainable Development Goals in the Public Sector. Theoretical contribution/Originality: The authors are unaware of any existing literature review research on EA, specifically in the public sector, even though it arises from environmental management accounting in the public sector. This study also demonstrates the inferences that can be derived.]]>
