Journal of Accounting and Investment最新文献

{"title":"The Impact of Ownership Structure on CSR Disclosure: Evidence from Indonesia","authors":"P. Nugraheni, Arum Indrasari, Noradiva Hamzah","doi":"10.18196/jai.v23i2.14633","DOIUrl":"https://doi.org/10.18196/jai.v23i2.14633","url":null,"abstract":"Research aims: When stakeholders want to invest in a company, CSR is one of the concerns. Thus, this study aims to examine the effect of ownership structure on corporate social responsibility disclosure in Indonesian companies. The ownership structure in this study consisted of managerial ownership, institutional ownership, public ownership, and foreign ownership.Design/Methodology/Approach: The samples in this study were companies listed on the Indonesian stock exchange from 2017 to 2019 that belonged to the sensitive industry category. The ownership structure comprised managerial ownership, institutional ownership, public ownership, and foreign ownership. CSR disclosure was measured using the Global Reporting Initiative (GRI). The data were then analyzed using panel data regression.Research findings: The results showed that institutional ownership positively affected CSR disclosure, while managerial, foreign, and public ownership did not affect CSR disclosure. Theoretical contribution/Originality: The company’s organs, including ownership structure, are expected to encourage companies to be more active in conducting CSR and disclosing it in company reports. However, while many ownership structures do not affect CSR, stakeholders and regulators need to encourage other instruments that can be used to increase CSR disclosure.","PeriodicalId":33157,"journal":{"name":"Journal of Accounting and Investment","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-05-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42423228","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Evaluating The Effect of Fair Value Adjustments to Investment Property Based on Profitability Ratios","authors":"A. Smit, Beitske Van der Niet, M. Botha","doi":"10.18196/jai.v23i2.14404","DOIUrl":"https://doi.org/10.18196/jai.v23i2.14404","url":null,"abstract":"Research aims: The aim of the study was to determine whether fair value adjustments to investment property affect the profitability ratios of listed companies. Design/Methodology/Approach: To investigate the problem, a brief literature overview of performance analysis through ratio calculations, as well as fair value measurement are discussed. These discussions are based on the International Financial Reporting Standards (IFRS), IFRS 13 and International Accounting Standards (IAS), IAS 40. IAS 40 addresses how the value of investment property may be recognised through the fair value model. To determine whether the recognition of fair value adjustments affect the profitability ratios of sampled companies, the Wilcoxon rank test and Cohen’s d-value were used as statistical measures to fulfil this objective. The Top 40 companies as listed on the Johannesburg Stock Exchange (JSE) in South Africa were populated, and judgment sampling was applied to calculate the sampling frame.Research findings: The results demonstrate that 50% to 75% of the sampled companies had profitability ratios, which were impacted by the recognition of fair value adjustments. These findings are relevant to potential investors who need to interpret financial ratios to improve investment decisions. Finally, the study recommends that the prospective investor eliminate fair value adjustments when profitability ratios are calculated.Theoretical contribution/Originality: The contribution of the study is that fair value adjustments (favourable or unfavourable) relating to IAS 40 affect the decisions taken by users of the financial statements. Substantial changes to profit or loss and/or investment property significantly impact ratio analysis outcomes and, therefore, investor decision making. The research contributes to the use of fair value adjustments and its impact on profitability ratios. Practitioner/Policy implications: Regulators may benefit from the findings when considering regulatory reforms of accounting practices as well as the disclosures required that assist the users of financial statements.","PeriodicalId":33157,"journal":{"name":"Journal of Accounting and Investment","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-05-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45556062","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Service Quality of Community Health Centers During the COVID-19 Pandemic: Do Governance Practices Benefit?","authors":"Suryo Pratolo, Arifin Hamsyah Mukti, H. Sofyani","doi":"10.18196/jai.v23i2.14324","DOIUrl":"https://doi.org/10.18196/jai.v23i2.14324","url":null,"abstract":"Research aims: This study aims to examine the role of internal control on the service quality of community health centers in handling the COVID-19 pandemic with transparency and accountability budget management as intervening variables.Design/Methodology/Approach: The population of this study was all community health centers located in the Special Region of Yogyakarta Province. The cluster sampling technique was used in determining the samples. Eighty-two community health centers participated in this study. Data were collected by distributing questionnaires. Partial Least Square (PLS) was employed to test the hypotheses.Research findings: The results revealed that, during the COVID-19 pandemic, internal control implementation was not associated directly with the service quality of the community health center. Instead, the association was mediated by transparency, not accountability. Additionally, transparency independently was associated with service quality.Theoretical contribution/Originality: This study extends the literature by examining the role of good governance mechanisms and principles in the community health center context by positioning transparency and accountability as intervening. In addition, this research was conducted in the context of the COVID-19 pandemic, where the service quality of community health centers has a crucial role in dealing with people exposed to COVID-19.Practitioner/Policy implication: The results of this study can be used as input for the relevant regulator to improve the service quality of community health centers through good governance practices.Research limitation/Implication: This research only involved community health centers in the Special Region of Yogyakarta Province as samples.","PeriodicalId":33157,"journal":{"name":"Journal of Accounting and Investment","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-05-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46847354","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Role of Baitul Maal Wat Tamwil Financing and Business Coaching on Business Development and Welfare Improvement of Micro Traders in Traditional Markets","authors":"Emile Satia Darma, Syafira Firdaus Lisfebrianty Handoyo","doi":"10.18196/jai.v23i2.15462","DOIUrl":"https://doi.org/10.18196/jai.v23i2.15462","url":null,"abstract":"Research aims: This study aims to analyze the role of financing and business coaching in BMT (Baitul Maal Wat Tamwil). The role of financing and business coaching focused more on its impact on business development and improved welfare of BMT members who carried out financing. BMT members here were specifically from micro-enterprises by traditional market traders.Design/Methodology/Approach: Market traders used as objects were still micro-scaled in traditional markets in Purworejo Regency, Central Java. In this study, the obtained data that could be processed were 72 respondents from 18 traditional markets. Then, the analysis tool used Structural Equation Modeling (SEM) – Variance Based. Research findings: The results of this study exhibited that business coaching had a significant positive effect on business development and welfare improvement of traditional market traders who were still on a micro-scale. The development of these businesses also affected the improvement of their welfare. However, BMT financing did not affect traditional market traders' business development and welfare improvement.Theoretical contribution/Originality: This study applied Community Development Theory and Constructive Perception Theory to BMT members' perceptions of business development and welfare improvement. The assessment of business development and welfare improvement was based on the respondents' perceptions, not on numerical standards that came from outside. It is hoped that in this way, the sustainability of the role of BMT towards its members will be more maintained and objective.Practitioner/Policy implication: An important implication of this study's results is that BMT's business coaching for its members, even with relatively small financing, will positively impact their perception of business development and welfare improvement. It can be used to create a better relationship between BMT and its members.Research limitation/Implication: The limitation of this study is that it only used the business coaching variable as a BMT coaching tool for its members. It is also possible that other variables can be used as a tool to maintain good relations between BMT and its members.","PeriodicalId":33157,"journal":{"name":"Journal of Accounting and Investment","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-05-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42849402","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Does the Board of Commissioners’ Characteristics Relevant to the Sustainable Finance Disclosure in Indonesian Banks?","authors":"Rahayu Rahayu, Djuminah Djuminah","doi":"10.18196/jai.v23i2.14163","DOIUrl":"https://doi.org/10.18196/jai.v23i2.14163","url":null,"abstract":"Research aims: This study aims to investigate empirical evidence of the board of commissioners’ characteristics (independent commissioners, educational level of the president commissioner, and board of commissioner meetings) on sustainable finance disclosure.Design/Methodology/Approach: This study used panel data regression with 205 observations distributed in balanced panel data. The main data analysis was 164 data in 2015-2018, as the voluntary disclosure period. In addition, additional analysis was carried out for 41 data in 2019 as a mandatory disclosure period to achieve robust results.Research findings: The regression results revealed that the independent commissioners and board of commissioner meetings had a significant positive effect on sustainable finance disclosure. Meanwhile, the educational level of the president commissioner did not show a significant effect on sustainable finance disclosure. In additional tests, the educational level of the president commissioner and board of commissioner meetings did not affect the sustainable finance disclosure after being mandatory. Theoretical contribution/Originality: The results of this study can be used as additional support for agency theory and stakeholder theory. Moreover, to the best of the authors' knowledge, this research is the first to use The Financial Services Authority (OJK) regulation 51/POJK.03/2017 as a guideline to measure sustainable finance disclosure. Practitioner/Policy implication: The research result can be used by OJK to evaluate regarding banking commitments in disclosing sustainable finance in Indonesia. Research limitation/Implication: The weakness in this study is the measurement of sustainable finance disclosure using content analysis techniques so that there is an element of author subjectivity in it. For further research, it is hoped that several readers will be able to provide measurements related to the disclosure.","PeriodicalId":33157,"journal":{"name":"Journal of Accounting and Investment","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-05-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42762623","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Successful Crowdfunding in Indonesia Based on Financial Projection and Investor Attraction: Empirical Study on Micro, Small and Medium Enterprises (MSMEs) on the Bizhare Platform","authors":"Anggrian Faulina Permatasari, I. Ulum, Ike Arisanti","doi":"10.18196/jai.v23i2.13427","DOIUrl":"https://doi.org/10.18196/jai.v23i2.13427","url":null,"abstract":"Research aims: This study aims to examine the effects of investor attraction and financial projection on successful crowdfunding. Design/Methodology/Approach: A purposive sampling method was used by the researchers. The research sample consisted of 48 projects from the Bizhare platform from 2018 to 2021, with the following criteria: providing data that could be used as an indicator for measuring each variable. In testing the hypotheses, multiple linear regression analysis was employed with a principal component analysis model.Research Findings: The financial projection positively affected successful crowdfunding, while investor attraction negatively affected successful crowdfunding in Indonesia.Theoretical contribution/Originality: This study’s results are an additional discussion toward theory and literature related to crowdfunding.Practitioner/Policy implication: Disclosure of prospectus plays an essential role in preventing information asymmetry that may arise between managers and investors by providing knowledge to external investors. This study is needed to accelerate economic recovery due to the pandemic, which especially causes new projects to be trapped, saves MSMEs from limited capital, and improves business development.Research limitation/Implication: This research only used one platform as an object because not all crowdfunding platforms could be accessed and provided the information needed for research.","PeriodicalId":33157,"journal":{"name":"Journal of Accounting and Investment","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-04-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45351979","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Analysis of the Eid Al-Fitr Holiday Anomaly on Abnormal Return and Trading Volume Activity: Case Study of Jakarta Islamic Index During 2017-2020","authors":"F. Pribadi, Aldi Abilawa","doi":"10.18196/jai.v23i1.12894","DOIUrl":"https://doi.org/10.18196/jai.v23i1.12894","url":null,"abstract":"Research aims: This research aims to determine whether there is a significant difference in the average abnormal return on the Jakarta Islamic Index on the Indonesia Stock Exchange in 2017-2020 before and after the Eid al-Fitr holiday and find out whether there is a significant difference in the average trading volume activity on the Jakarta Islamic Index on the Indonesia Stock Exchange in 2017-2020 before and after the Eid al-Fitr holiday.Design/Methodology/Approach: By utilizing an event study, the only significant difference was in the Average Trading Volume Activity (ATVA), showing that trading activity before the holiday was higher, and the opposite occurred in the 2020 period.Research findings: The first research result is that investors could not earn any abnormal return on post- and pre-event windows since the differences between post- and pre-average abnormal returns were insignificant. The second result is a significant Eid al-Fitr anomaly through trading volume activity patterns in companies listed on the Jakarta Islamic Index on the Indonesia Stock Exchange. The results also indicate that the capital market in Indonesia is efficient in a semi-strong form of event in the pandemic era.Theoretical contribution/Originality: The anomalies in the market prove that the market is not always efficient, and it defies the Efficient Market Hypothesis (EMH). These anomalies have addressed non-economic factors, such as religion or culture. As one of the anomalies in the market, this study on holiday had mixed results. In addition, the Jakarta Islamic Index was used since the event studied in this research was the Islamic holiday, and Indonesia has the largest Muslim population in the world.Practitioner/Policy implication: This study is expected to be a reference material and information for companies about how investors respond to the Ramadan effect.Research limitation/Implication: Regarding the sample, this study was still limited to companies listed in the Jakarta Islamic Index, which only consists of 30 companies, so it is advisable to use companies listed on the Indonesian Sharia Stock Index.","PeriodicalId":33157,"journal":{"name":"Journal of Accounting and Investment","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-03-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41866271","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"IFRS Adoption Research in Indonesia: A Systematic Literature Review","authors":"S. Sukmawati, Sri Pujiningsih","doi":"10.18196/jai.v23i1.13280","DOIUrl":"https://doi.org/10.18196/jai.v23i1.13280","url":null,"abstract":"Research aims: This study aimed to review the development of IFRS research literature in Indonesia from 2011 to 2020.Design/Methodology/Approach: This study was based on the IFRS research articles from nationally accredited journals. The method in this research was a systematic literature review with a bibliometric approach and content analysis.Research findings: The results showed that the publication of the IFRS articles increased in 2014 with the number of authors dominated by two researchers. The research in Indonesia was dominated by the theme of the effect of IFRS convergence on earnings quality. Thus, it is necessary to develop research on the theme of implementation and development of IFRS convergence since the articles related to this theme are still poor. Compared with existing research abroad, there was a common focus of research on the theme of the IFRS convergence effect. However, there were differences in research theme trends, where the most studied theme in Indonesia was related to the effect of IFRS convergence, while abroad, the most studied theme was related to the implementation of IFRS convergence.Theoretical contribution/originality: This research can provide a historical overview of the development of the IFRS research literature in Indonesia.Research limitation/Implication: Further research is expected to expand the data analysis and sources of data. The research is also expected to expand the sub-themes related to the implementation and development of IFRS convergence, where the theme had not been studied much yet from 2011 to 2020.","PeriodicalId":33157,"journal":{"name":"Journal of Accounting and Investment","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-02-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46951524","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Impacts of Tax Revenue and Investment on the Economic Growth in Southeast Asian Countries","authors":"H. Nguyen, S. Darsono","doi":"10.18196/jai.v23i1.13270","DOIUrl":"https://doi.org/10.18196/jai.v23i1.13270","url":null,"abstract":"Research aims: This study focuses on the correlation between tax revenue, investment, and economic growth, taking into account the non-linear effects of tax revenue.Design/Methodology/Approach: Macro data of nine countries in ASEAN (including Brunei, Cambodia, Indonesia, Laos, Malaysia, Philippines, Singapore, Thailand, and Vietnam) in 2000 - 2020 were extracted from the World Bank database. This research employed panel data estimations.Research findings: This study found statistical evidence of a negative effect of tax revenue on economic growth. However, when considering the non-linear effects of tax revenue, the empirical findings showed that higher tax revenue could reduce the disadvantages of tax impacts to boost economic growth. The negative effect of taxes is as obvious as the economic growth theories, but it depends on the taxation revenue. Lower tax revenue may encourage saving and investment, but it also leads to an increased government deficit, reducing economic growth through government debt, spending and investment. Moreover, this study provides consistent evidence of investment’s positive effect on economic growth in ASEAN countries during the research period.Theoretical contribution/Originality: The theoretical contribution provides evidence on the direct effect of tax revenue and investment on economic growth with a broader understanding of the tax’s non-linear effects and investment contributions in the ASEAN. The study confirms the vital role of government activity in regulating the development of the economy through taxation and investment. Practitioner/Policy implication: The severe impact of the COVID-19 pandemic has increased macroeconomic uncertainties, including uncertainty over savings, investment, and spending, potentially leading to tax revenue and investment losses. It, in turn, affects economic activities, so it requires careful consideration. Learned lessons from this study can prepare for future economic shocks and financial crises to reduce negative impacts on economic growth, including their adverse tax revenue effects.Research limitation: This study is limited by looking at the tax revenue ratio overview, which ignores the tax structure due to the lack of data collection. The following studies need to clarify the tax structure of ASEAN countries to determine which tax gives a negative impact/and which tax has a positive effect on economic growth.","PeriodicalId":33157,"journal":{"name":"Journal of Accounting and Investment","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-01-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44298315","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Determinants of Investment Decisions in the Capital Market During the COVID-19 Pandemic","authors":"Erni Suryandari Fathmaningrum, T. Utami","doi":"10.18196/jai.v23i1.13408","DOIUrl":"https://doi.org/10.18196/jai.v23i1.13408","url":null,"abstract":"Research aims: This study aims to determine the effect of herding behavior, accounting information, and information technology on investment decisions through investment interest during the COVID-19 pandemic.Design/Methodology/Approach: Using the purposive sampling method, this study used a sample of investors who had just invested in the Indonesian capital market during the COVID-19 pandemic. This quantitative study employed primary data based on questionnaires distributed to respondents via the internet. Respondents in this study were 241 investors. Hypothesis testing in this study utilized SEM-PLS analysis through the SMART PLS 3.0 application.Research findings: The results showed that herding behavior did not affect investment decisions through investment interest in the capital market during the COVID-19 pandemic. Meanwhile, accounting information and technology information influenced investment decisions through investment interest in the capital market during the COVID-19 pandemic.Theoretical contribution/Originality: The study results contribute to the literature (body of knowledge), especially as additional discussion toward theory and literature related to herding behavior, accounting information, and information technology on investors decisions through investment interest to invest in the capital market, which is still very limited.","PeriodicalId":33157,"journal":{"name":"Journal of Accounting and Investment","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-01-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47386131","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}