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All Journal Journal of Enterprise and Development (JED) Jurnal Akuntansi dan Keuangan Journal of Multiperspectives on Accounting Literature
Ika Atma Kurniawanti
Fakultas Ekonomi Dan Bisnis, Universitas Airlangga, Surabaya, Indonesia
Economics, Econometrics & Finance Social Sciences

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Mental accounting: Global research trends and Indonesia's research position Muthohhari, Abdullah Hanif; Kurniawanti, Ika Atma; Utama, Anak Agung Gde Satia; Edward, Oswald Timothy
Journal of Multiperspectives on Accounting Literature Vol. 4 No. 1 (2026): Journal of Multiperspectives on Accounting Literature
Publisher : Universitas Muhammadiyah Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22219/jameela.v4i1.44520

Abstract

Purpose: As mental accounting (MA) influences critical economics and finance phenomenon, understanding research trends and Indonesia's research position can contribute to the development of accounting policies aligned with the local context. This study offers a bibliometric analysis of pertinent papers in mental behavioral accounting. Methodology/approach: By analyzing 271 articles from the Scopus database published from 2015 to 2024, this study uses bibliometric analysis to identify global research trends and Indonesia’s position in MA. Findings: The analysis indicates that the prior research in MA over decade will focus on prospect theory, consumer behavior, investment decision-making, behavioral biases, and financial literacy. Our data indicates that mental accounting researchers globally must reapply mental accounting principles across diverse domains. Practical implications: This study recommends that researchers expand their analyses by integrating MA with the Indonesian economic framework and concentrate to the advancement of MA research globally. Originality/value: This study also provides additional analysis regarding the progress of MA research in Indonesia by finding its research position.
Bankruptcy Prediction Accuracy: Z-Score Vs Random Forest in Indonesia's Manufacturing Industry Sari, Yulia Sindi; Arina, Natrabilla Cahya; Kurniawanti, Ika Atma
Jurnal Akuntansi dan Keuangan Vol 15, No 1 (2026)
Publisher : Universitas Budi Luhur

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36080/jak.v15i1.4280

Abstract

This study compares the predictive performance of the Altman Z-Score and Random Forest models in identifying financial distress among Indonesian manufacturing firms. Using unbalanced panel data from 1,476 firm-year observations over 2015 to 2024, the study evaluates both models through accuracy and the area under the receiver operating characteristic curve. The results indicate that Random Forest outperforms Altman Z-Score, achieving an accuracy of 88.68% compared with 78.66% and an AUC of 0.931. The evidence further shows that most observations remain in the non-distress category, while Random Forest is more effective in detecting financially vulnerable and borderline firms. These findings suggest that Random Forest offers a more robust early-warning mechanism than the conventional ratio-based approach for bankruptcy risk assessment in heterogeneous financial settings.
Exploring the Determinants of Financial Distress in ASEAN-5 Firms During the COVID-19 Pandemic Alfiyanah, Dwi; Kurniawanti, Ika Atma
Journal of Enterprise and Development (JED) Vol. 7 No. 3 (2025)
Publisher : Faculty of Islamic Economics and Business of Universitas Islam Negeri Mataram

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20414/jed.v7i3.14346

Abstract

Purpose: This study examines the relationship between profits, cash flows, leverage, and their effects on financial distress in publicly traded companies across the ASEAN-5 countries during the COVID-19 pandemic, spanning from 2020 to 2023.Method: Financial distress was measured using the Altman Z-score, and the analysis utilized panel data regression. To enhance the reliability of the results, the Fixed Effect Model (FEM) with robust standard errors was applied. The sample consisted of 3,065 firms and 10,750 firm-year observations, selected through purposive sampling from the Osiris database.Result: The findings show that long-term leverage significantly increases the likelihood of financial distress. In contrast, profit, operating cash flow, and the current ratio had no significant effect. These results emphasize the critical role that long-term debt structure plays in shaping financial vulnerability during systemic crises, such as pandemics.Practical Implications for Economic Growth and Development: This study offers valuable insights for corporate managers, investors, and policymakers in developing strategies to strengthen capital structure management. Reducing reliance on long-term debt can enhance corporate financial resilience, which, in turn, supports macroeconomic stability and promotes sustainable development.Originality/Value: This study contributes to the literature by focusing on the pandemic period in the ASEAN-5 region, utilizing a comprehensive cross-country and multi-year sample, and highlighting the significance of long-term leverage as a key factor in financial distress.
Co-Authors Alfiyanah, Dwi Arina, Natrabilla Cahya Edward, Oswald Timothy Muthohhari, Abdullah Hanif Sari, Yulia Sindi Satia Utama, Anak Agung Gde