Article Per Year (5 Year)
p-Index From 2021 - 2026
0.23
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This Author published in this journals
All Journal International Journal of Accounting & Finance in Asia Pasific
Dewi Indrayani Hamin
Gorontalo State University
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

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Two Faces of Sustainability and Earnings Quality: A Comparative Profile of Plantation and Processed-Food Firms in Indonesia Dewi Indrayani Hamin; Eduart Wolok; Raflin Hinelo; Rizan Machmud
International Journal of Accounting and Finance in Asia Pasific (IJAFAP) Vol 9, No 1 (2026): February 2026
Publisher : AIBPM Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32535/ijafap.v9i1.4717

Abstract

ABSTRACT The transition toward a green economy has intensified pressure on firms to align earnings quality with sustainability performance, yet subsector differences within food industries remain underexplored. This study profiles and compares earnings management and Environmental, Social, and Governance (ESG) performance among plantation and processed-food firms listed on the Indonesia Stock Exchange during 2018–2025. Using a descriptive-comparative design, the analysis covers 184 firm-year observations from 23 firms selected through multistage sampling. Earnings management is assessed through discretionary accruals estimated with Modified Jones and Dividend-Adjusted Modified Jones models, while sustainability performance is evaluated through environmental, social, governance, and overall ESG scores, supported by nonparametric difference tests. Results show earnings management is largely adaptive, as the dividend-adjusted measure reveals stronger income-increasing tendencies once dividend distribution is incorporated. Plantation firms record significantly higher ESG performance than processed-food firms (59.08 versus 47.11 on a 0–100 scale; p = 0.000), especially in the environmental dimension, while processed-food firms show governance-led improvement after 2022. The study concludes that earnings quality and sustainability performance are subsector-contingent and cannot be inferred from aggregate ESG scores alone. Regulators and managers should calibrate green financial governance to each subsector’s operational pressures Keywords: corporate sustainability performance; discretionary accruals; earnings management; ESG; plantation firms; processed foodJEL Classification: M41; Q56; G34
Co-Authors Eduart Wolok Raflin Hinelo Rizan Machmud