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FINANCIAL DISTRESS, SIZE, AGE, DAN CORPORATE SOCIAL RESPONSIBILITY DISCLOSURE: BUKTI EMPIRIS DARI INDONESIA SELAMA MASA PANDEMI COVID-19 Kiki Satria Hutama Putra; Ersa Tri Wahyuni; Tettet Fitrijanti
Jurnal Dinamika Akuntansi dan Bisnis Vol 9, No 1 (2022): March 2022
Publisher : Accounting Departement Economics and Business Faculty Syiah Kuala University

This study aims to investigate the influence of financial distress, company size, and company age on corporate social responsibility disclosure before and during the COVID-19 pandemic. We consider that the existence of this unprecedented situation is useful for understanding how the dynamics of corporate social responsibility disclosure changes during the COVID-19 pandemic. Using purposive sampling method, 114 companies in energy, raw materials, industry, and infrastructure sector that listed in Indonesian Stock Exchanges were selected as research samples. Data were analysed using multiple linear regression analysis. The results revealed that financial distress and company size have positive effects on corporate social responsibility disclosure in the period before and during the COVID-19 pandemic. Meanwhile, the age of the company in the period before and during the COVID-19 pandemic has no effect on corporate social responsibility disclosure.

Financial distress and earnings management before and during the Covid-19 pandemic Novy Fajriati; Ersa Tri Wahyuni; Dini Rosdini
Jurnal Akuntansi dan Auditing Indonesia Vol 27, No 1 (2023)
Publisher : Accounting Department, Faculty of Business and Economics, Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/jaai.vol27.iss1.art8

This study aims to investigate the influence of financial distress on accrual earnings management and real earnings management before and during the COVID-19 pandemic. Using a purposive sampling method, the study analyzed the sectors most impacted by the pandemic lockdown, including energy, transportation, and logistics companies, between 2018 and 2021. The total sample of 236 firm-year observation data points was analyzed in this study using regression analysis. The study finds that financially distressed firms tend to engage less in real earnings management before and during the COVID-19 pandemic. However, the study did not find a similar significant difference for accrual earnings management. This research contributes to the discussion of financial distress and earnings management by looking more closely to the company most affected by the pandemic. Real earnings management is more costly than accrual earnings management, and companies with financial distress may not have enough resources, especially during the pandemic, to maneuver their real business operations.

Understanding The Cash Flow Impact on Financial Distress among Hospitality Listed Firms Amidst the Covid-19 Pandemic: The Case of Indonesia Lady Liesdyana Pratiwi; Ersa Tri Wahyuni; Zaldy Adrianto
Quantitative Economics and Management Studies Vol. 5 No. 1 (2024)
Publisher : PT Mattawang Mediatama Solution

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35877/454RI.qems2322

This study investigates the relationship between cash flow variables and financial distress among hospitality companies listed on the Indonesian stock market between 2017 and 2022. Analysis focused on Operating Cash Flow (OCF), Investment Cash Flow (ICF), and Financial Cash Flow (FCF) to discern their individual and combined impacts on financial distress. The findings reveal that each cash flow variable—OCF, ICF, and FCF—exerts a significant influence on financial distress when considered independently. This supports hypotheses 1, 2, and 3, signifying their substantial role in shaping the financial health of these companies. Additionally, the collective effect of these cash flow variables, as evidenced by the F-test, demonstrates a noteworthy combined impact on financial distress. In summary, this study highlights the intricate interplay between cash flow dynamics and financial distress among Indonesian-listed private companies. While each cash flow component independently affects financial stability, their cumulative influence significantly determines vulnerability to financial distress. This underscores the critical need for comprehensive cash flow management strategies to mitigate financial risks and ensure sustained financial health in these entities amidst economic uncertainties.

PERAN BIG DATA TERHADAP KEMAMPUAN PERUSAHAAN MELAKUKAN ANALISIS RANTAI PASOK : STUDI REVIU LITERATUR TERSTRUKTUR Hindayani, Novia; Wahyuni, Ersa Tri; Prima Amrania, Gia Kardina
Jurnal Ilmiah Manajemen, Ekonomi, & Akuntansi (MEA) Vol 6 No 2 (2022): Edisi Mei - Agustus 2022
Publisher : LPPM STIE Muhammadiah Bandung

Penelitian ini bertujuan untuk mengetahui bagaimana faktor yang mempengaruhi kesuksesan penerapan ABD dalam rantai pasok melalui tinjauan literatur revieu atas 90 sampel artikel jurnal international tahun 2012-2021. Hasil penelitian meunjukan peningkatan publikasi paling banyak ditahun 2021 yaitu 27 artikel. China merupakan negara yang paling banyak diteliti. Faktor-faktor yang mempengaruhi suksesan penerapan ABD dalam rantai pasok pada model supply chain management capability dibagi dalam 8 faktor yaitu kerjasama antar divisi, transparansi diantara mitra rantai pasok, dukungan manajemen, pengembangan dan penyelarasan strategi, perubahan efisiensi operasi dan pemeliharaan, budaya pengambilan keputusan, dukungan dana dan studi kelayakan untuk adopsi BD. Penelitian ini berkontribusi pada perkembangan pengetahuan tentang ABD dalam rantai pasok diseluruh dunia. Peneliti dapat menyelidiki secara empiris faktor-faktor yang diidentifikasi sebagai konfirmasi penelitian, dan peneliti selanjutnya juga dapat memperluas area penelitian mereka menggunakan model lainnya. Hasil temuan diperolah dari literatur reviu maka diperlukannya pengujian lebih mendalam melalui metode wawancara atau kuesioner.

The market reactions for deferred compliance of IAS 41: an analysis of the agriculture sector in Indonesia Wahyuni, Ersa Tri; Lucin, Sandra Trianadewi; Azhar, Zubir
Journal of Accounting and Investment Vol 25, No 2: May 2024
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jai.v25i2.20019

Research aims: This study aims to investigate the market reaction of post-IAS 41 implementation in Indonesia. IAS 41 Agriculture requires companies to measure biological assets at fair value, which will increase asset values and profit in the first year of its implementation. The increase in the asset values can have a favorable impact on companies’ share prices as fair value was not applied in Indonesia prior to the adoption of IAS 41. In addition, this study analyzes the disclosure compliance of IAS 41 in the interim reports during the implementation year.Design/Methodology/Approach: This study used non-parametric statistics, precisely the Wilcoxon Signed Rank Test and content analysis of financial statement disclosure about IAS 41 Agriculture. The sample of the study comprised 27 Indonesian companies with agriculture assets during the first year of the implementation of IAS 41. Research findings: The results of this study suggest no significant difference in market abnormal return after the first annual financial statements post-IAS 41 implementation were released in the first quarter of 2018. The results also indicate that at least 50% of the 27 sample companies did not use fair value for their biological assets in their first quarter of interim report during the implementation year. The use of fair value was only observed in the last quarter of 2018, as most companies made an effort to apply fair value. The late implementation of fair value in IAS 41 may explain the insignificance of the market's abnormal return reaction in the first quarter of the adoption year when the financial reports were released.Practitioner/Policy implication: The adoption of the new standard requires companies to comply with it right in the first quarter of the implementation year. The capital market regulator should impose stricter requirements for listed companies to apply the new standard starting with the first quarter of financial reports.Research limitation/Implication: The limitations of this study concern the observation period used for calculating abnormal returns, which did not conclude a ‘pure’ market reaction, and the sample of this research was limited to three industries: agriculture, basic chemicals, and consumer goods.

Pemetaan Hubungan Antara Green Innovation dan Financial Performance: Analisis Bibliometrik Kasriani Kasriani; Ersa Tri Wahyuni; Dini Rosdini
E-Jurnal Akuntansi Vol 34 No 12 (2024)
Publisher : Accounting Department, Economic and Business Faculty of Universitas Udayana in collaboration with the Association of Accounting Department of Indonesia, Bali Region

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24843/EJA.2024.v34.i12.p08

This research emerged due to the increasing issue of a company’s sustainable development, especially the environment that affects financial performance. Finding, characterizing, and analyzing the evolution of research publishing trends investigated by researchers globally is the goal of this systematic literature review model study. Using the SR technique as the central methodology, researchers gathered 138 documents from the Scopus database between 2013 and 2023. The findings indicate that the number of publications from joint studies of different nations worldwide has significantly increased. These papers include topics such as the impacts of GI and the urgency of implementing it. Access to study data, funding assistance, and researcher interest all affect the annual rise. This study offers several recommendations to improve organizational knowledge related to GI and FP.

The market reactions for deferred compliance of IAS 41: an analysis of the agriculture sector in Indonesia Ersa Tri Wahyuni; Sandra Trianadewi Lucin; Zubir Azhar
Journal of Accounting and Investment Vol. 25 No. 2: May 2024
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jai.v25i2.20019

Research aims: This study aims to investigate the market reaction of post-IAS 41 implementation in Indonesia. IAS 41 Agriculture requires companies to measure biological assets at fair value, which will increase asset values and profit in the first year of its implementation. The increase in the asset values can have a favorable impact on companies’ share prices as fair value was not applied in Indonesia prior to the adoption of IAS 41. In addition, this study analyzes the disclosure compliance of IAS 41 in the interim reports during the implementation year.Design/Methodology/Approach: This study used non-parametric statistics, precisely the Wilcoxon Signed Rank Test and content analysis of financial statement disclosure about IAS 41 Agriculture. The sample of the study comprised 27 Indonesian companies with agriculture assets during the first year of the implementation of IAS 41. Research findings: The results of this study suggest no significant difference in market abnormal return after the first annual financial statements post-IAS 41 implementation were released in the first quarter of 2018. The results also indicate that at least 50% of the 27 sample companies did not use fair value for their biological assets in their first quarter of interim report during the implementation year. The use of fair value was only observed in the last quarter of 2018, as most companies made an effort to apply fair value. The late implementation of fair value in IAS 41 may explain the insignificance of the market's abnormal return reaction in the first quarter of the adoption year when the financial reports were released.Practitioner/Policy implication: The adoption of the new standard requires companies to comply with it right in the first quarter of the implementation year. The capital market regulator should impose stricter requirements for listed companies to apply the new standard starting with the first quarter of financial reports.Research limitation/Implication: The limitations of this study concern the observation period used for calculating abnormal returns, which did not conclude a ‘pure’ market reaction, and the sample of this research was limited to three industries: agriculture, basic chemicals, and consumer goods.

Debt Literacy, Financial Management Practice, Financial Confidence pada Over-indebtedness Guru: Studi pada Guru di Kabupaten Karawang Habieb Prasojo, Luqman; Dewi Tanzil, Nanny; Adrianto, Zaldy; Wahyuni, Ersa Tri
Jurnal Riset Ilmu Ekonomi Vol. 4 No. 3 (2024): Jurnal Riset Ilmu Ekonomi (JRIE) Edisi Desember 2024
Publisher : Universitas Pasundan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23969/jrie.v4i3.172

The unstoppable growth of fintech, accelerated by the pandemic, is reflected in the increasing financial inclusion and literacy rates in Indonesia, as observed by the OJK. P2P Lending has become one of the most popular fintech services, offering accessible and affordable loans to various segments of society. However, the ease of access has led to challenges, with many individuals, including teachers, facing the risks of over-indebtedness. This study investigates the role of debt literacy, financial management practices, and financial confidence in influencing over-indebtedness among teachers in Karawang Regency. Using a quantitative approach, data from 385 teachers were analyzed through Partial Least Squares Structural Equation Modeling (PLS-SEM) to examine the complex relationships between variables, considering the influence of demographic factors. The findings reveal that debt literacy and financial management practices have no significant negative impact on over-indebtedness, while financial confidence has no significant positive impact.

FINANCIAL DISTRESS, SIZE, AGE, DAN CORPORATE SOCIAL RESPONSIBILITY DISCLOSURE: BUKTI EMPIRIS DARI INDONESIA SELAMA MASA PANDEMI COVID-19 Putra, Kiki Satria Hutama; Wahyuni, Ersa Tri; Fitrijanti, Tettet
Jurnal Dinamika Akuntansi dan Bisnis Vol 9, No 1 (2022): March 2022
Publisher : Accounting Departement Economics and Business Faculty Syiah Kuala University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24815/jdab.v9i1.24590

This study aims to investigate the influence of financial distress, company size, and company age on corporate social responsibility disclosure before and during the COVID-19 pandemic. We consider that the existence of this unprecedented situation is useful for understanding how the dynamics of corporate social responsibility disclosure changes during the COVID-19 pandemic. Using purposive sampling method, 114 companies in energy, raw materials, industry, and infrastructure sector that listed in Indonesian Stock Exchanges were selected as research samples. Data were analysed using multiple linear regression analysis. The results revealed that financial distress and company size have positive effects on corporate social responsibility disclosure in the period before and during the COVID-19 pandemic. Meanwhile, the age of the company in the period before and during the COVID-19 pandemic has no effect on corporate social responsibility disclosure.

Share Premium, IPO Overvaluation and Post-IPO Underperformance in an Emerging Markets: Evidence from Indonesia's Acceleration Board Ganda, Maurice; Tanzil, Nanny Dewi; Wahyuni, Ersa Tri
Dinasti International Journal of Economics, Finance & Accounting Vol. 7 No. 3 (2026): Dinasti International Journal of Economics, Finance & Accounting (July - August
Publisher : Dinasti Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.38035/dijefa.v7i3.7055

This study investigates whether IPO valuation indicators predict the long-term post-IPO performance of companies listed on the Indonesia Stock Exchange (IDX) Acceleration Board. The study examines the effects of Price-to-Book Value (PBV), Price-to-Earnings Ratio (PER), Trading Volume Ratio (TVR), and Share Premium Ratio on post-IPO stock returns. Using a quantitative explanatory and predictive research design, this study analyzed the entire population of 43 Acceleration Board IPO firms listed between 2020 and 2024. Data were analyzed through descriptive statistics, Pearson correlation, multiple linear regression, binary logistic regression, and machine learning models. including Decision Tree and Random Forest for predictive analytics. The results reveal that more than two-thirds of Acceleration Board IPO firms experienced negative post-IPO returns across the 360-, 720-, and 1,080-day observation periods, indicating widespread long-term underperformance. However, the selected valuation indicators demonstrate limited explanatory and predictive power, with only PBV showing a significant positive association with 720-day returns. Overall, the findings suggest that long-term IPO performance is influenced by broader firm-specific and market-related factors beyond initial valuation metrics. The study also shows that Share Premium Ratio is not reliable indicator of IPO overvaluation, as it primarily reflects the legal and administrative structure of IPO pricing rather than firms’ intrinsic economic value.

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