Article Per Year (5 Year)
p-Index From 2021 - 2026
7.04
P-Index
This Author published in this journals
All Journal Jurnal Reviu Akuntansi dan Keuangan Jurnal Presipitasi : Media Komunikasi dan Pengembangan Teknik Lingkungan EL-MUHASABA Jurnal Keuangan dan Perbankan Jurnal Ilmiah Mahasiswa FEB Jurnal Akuntansi Multiparadigma Journal of Indonesian Economy and Business TEMA (Jurnal Tera Ilmu Akuntansi) The International Journal of Accounting and Business Society Journal of Accounting and Investment JEMA: Jurnal Ilmiah Bidang Akuntansi dan Manajemen AFRE Accounting Financial Review Neraca Keuangan : Jurnal Ilmiah Akuntansi dan Keuangan Buletin Ilmiah Nagari Membangun Kumawula: Jurnal Pengabdian Kepada Masyarakat International Journal of Economics, Business and Accounting Research (IJEBAR) Jurnal Riset Akuntansi Kontemporer Journal of Community Service and Empowerment Jurnal Pengabdian kepada Masyarakat Nusantara Unri Conference Series: Community Engagement International Journal of Environmental, Sustainability, and Social Science Journal Of World Science Jurnal Locus Penelitian dan Pengabdian Journal of International Conference Proceedings Eduvest - Journal of Universal Studies Jurnal Akuntansi Manado (JAIM) Indonesian Journal of Sustainability Accounting and Management Reviu Akuntansi, Keuangan, dan Sistem Informasi Telaah Ilmiah Akuntansi dan Perpajakan (TIARA) Jurnal Sipakatau Jurnal Ekonomi, Manajemen, Bisnis dan Akuntansi Review
Arum Prastiwi
Universitas Brawijaya
Religion Aerospace Engineering Agriculture, Biological Sciences & Forestry Arts Humanities Automotive Engineering Computer Science & IT Decision Sciences, Operations Research & Management Earth & Planetary Sciences Economics, Econometrics & Finance Education Electrical & Electronics Engineering Engineering Environmental Science Health Professions Industrial & Manufacturing Engineering Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Library & Information Science Mathematics Neuroscience Nursing Physics Public Health Social Sciences Veterinary Other

Published : 56 Documents Claim Missing Document
Claim Missing Document
Check
Articles

Found 56 Documents
Search

 2   3   4   5   6 
Comparison of Average Abnormal Return and Average Trading Volume Activity Among LQ45 Companies Before and After the 2024 Indonesia Presidential Election Ari Kurnianto; Prastiwi, Arum
Reviu Akuntansi, Keuangan, dan Sistem Informasi Vol. 4 No. 2 (2025): REAKSI
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/reaksi.2025.4.2.529

Abstract

This study examines the impact of the 2024 Indonesian Presidential Election on the Indonesian capital market through an analysis of Average Abnormal Return (AAR) and Average Trading Volume Activity (ATVA) on LQ45 index stocks. Using the event study method, this study compares the periods before and after the presidential election to identify changes in market behavior. Statistical testing results indicate no significant differences in AAR and ATVA during the observation period, suggesting that investors do not view the presidential election as an event influencing investment decisions. This finding confirms the efficient market theory, where political information is fully reflected in stock prices. However, sectoral analysis reveals heterogeneous responses, with the healthcare and basic materials sectors showing distinct patterns. The contribution of this research is to provide empirical evidence of the efficiency of the Indonesian capital market and to identify variations in sectoral responses to political events.
The Effect Of Profitability, Environmental, Social & Gov-ernance (Esg), And Political Connection On Firm Value Santosa, Kezia Virginia Elok; Prastiwi, Arum
Reviu Akuntansi, Keuangan, dan Sistem Informasi Vol. 4 No. 3 (2025): REAKSI
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/reaksi.2025.4.3.530

Abstract

In an unstable global economy, companies must adopt various strategies to sustain their businesses while competing to enhance their value in the eyes of potential investors. A high firm value attracts investors and increases investment opportunities. This study aims to empirically examine the effect of profitability, Environmental, Social, & Governance (ESG), and political connections on firm value. From a population of manufacturing companies listed on the IDX from 2021 to 2023, 90 companies were selected as samples using a purposive sampling technique. The results of multiple regression analysis indicate that profitability significantly affects firm value, while ESG and political connections have no significant effect on firm value. These findings align with the Signaling Theory, which posits that profitability serves as a positive signal to investors, reinforcing the importance of improving profitability to enhance firm value. Thus, potential investors should consider profitability as a key factor in making investment decisions.
The Effect Of Non-Debt Tax Shield, Asset Structure And Growth Opportunities On Capital Structure With Compa-ny Size As Moderating Variable Maria Gratia; Arum Prastiwi
Reviu Akuntansi, Keuangan, dan Sistem Informasi Vol. 4 No. 4 (2025): REAKSI
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/reaksi.2025.4.4.568

Abstract

The debt-to-equity ratio serves as a key indicator for assessing a company's financing policy. Rising interest rates increase the cost of debt, thereby influencing corporate financing decisions. This quantitative study aims to examine the effect of non-debt tax shield, asset structure, and growth opportunity on the debt-to-equity ratio of infrastructure companies listed on the Indonesia Stock Exchange (IDX) for the 2021–2024 period, with firm size acting as a moderating variable. The sample selection was conducted using the purposive sampling method, resulting in 104 observations. The data were analyzed using SPSS version 25. The results show that non-debt tax shield has a negative effect on the debt-to-equity ratio, while asset structure has a positive effect on the debt-to-equity ratio. Firm size weakens the negative effect of non-debt tax shield on the debt-to-equity ratio and strengthens the positive effect of asset structure on the debt-to-equity ratio. On the other hand, growth opportunity does not affect the debt-to-equity ratio, and firm size does not moderate the relationship between growth opportunity and the debt-to-equity ratio. These findings highlight the importance of carefully managing the debt-to-equity ratio to ensure that financing decisions support the company's financial stability.
Strengthening Fraud Prevention Through the Three Lines of Defense in Public Infrastructure Oversight Deka Bayu Dirgantara; Arum Prastiwi; Virginia Nur Rahmanti
Eduvest - Journal of Universal Studies Vol. 5 No. 10 (2025): Eduvest - Journal of Universal Studies
Publisher : Green Publisher Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59188/eduvest.v5i10.51499

Abstract

This study examines the effectiveness of fraud prevention in the Directorate General of Infrastructure Financing at the Indonesian Ministry of Public Works using the Three Lines of Defense model. Employing a qualitative ethnomethodological approach, the research explores how actors in each line—the operational units, internal compliance, and internal auditors—perceive and perform their roles in everyday practices. Data were collected through in-depth interviews and focus group discussions with nine informants, representing each line equally. The analysis reveals that formal oversight structures are often interpreted and enacted through informal social norms, with coordination heavily reliant on interpersonal trust and ad hoc communication. The study identifies key challenges, including overlapping responsibilities, limited authority of the second line, and a lack of integrated procedures. Moreover, the findings highlight that the perception of fraud and internal control is shaped by collective social knowledge, which does not always align with institutional policies. This gap between formal frameworks and practical implementation undermines the overall effectiveness of fraud prevention mechanisms. The research suggests that aligning policy and practice requires developing cross-line standard operating procedures, empowering the second line structurally, fostering a culture of risk awareness, and institutionalizing collaborative forums to ensure coherent coordination. These strategies aim to reinforce not only structural integrity but also the social and cultural dimensions of internal oversight.
THE RECIPROCAL RELATIONSHIP BETWEEN PROFITABILITY AND CORPORATE SOCIAL RESPONSIBILITY DISCLOSURE Arum Prastiwi; Sari Atmini; Devy Pusposari; Yetri Martika Sari; Ferica Christinawati Putri
JRAK Vol 17 No 2 (2025): October Edition
Publisher : Faculty of Economics and Business, Universitas Pasundan, Bandung, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23969/jrak.v17i2.29561

Abstract

The relationship between CSR disclosure and financial performance remains contentious, particularly in emerging market resource sectors. This study examined the bidirectional relationship between CSR disclosure and profitability in Indonesian oil and gas mining companies from 2012 to 2019 using panel data regression on nine listed firms, yielding 69 observations. CSR disclosure was measured using GRI-G4 indicators, while profitability was assessed through ROA, ROE, NPM, and EPS, with firm size and leverage as controls. The analysis revealed significant reciprocal relationships with contrasting patterns. ROA and NPM showed negative bidirectional relationships with CSR disclosure, suggesting trade-offs between operational efficiency and social transparency. Conversely, ROE and EPS demonstrated positive reciprocal relationships, indicating CSR alignment with shareholder returns. These findings suggest companies should view CSR as a strategic investment, while regulators need stronger frameworks to promote synergy between financial sustainability and responsible disclosure.
Determinants of Government Performance Accountability Moderated by Electronic-Based Government System (Study on Construction Services Development Board) Sutri Rahayu; Roekhudin Roekhudin; Arum Prastiwi
Jurnal Locus Penelitian dan Pengabdian Vol. 5 No. 9 (2026): JURNAL LOCUS: Penelitian dan Pengabdian (Issue in Progres)
Publisher : Riviera Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58344/locus.v5i9.6263

Abstract

This study analyzes the determinants of Government Performance Accountability, with the Electronic-Based Government System (SPBE) serving as a moderating variable within the Construction Services Development Board of the Ministry of Public Works. Amid the ongoing push toward digital transformation in Indonesia’s public sector, understanding how such systems influence accountability outcomes has become increasingly relevant to strengthening governance in non-structural public institutions. The factors examined in this study are grounded in Agency Theory and Institutional Theory and were formulated by considering the findings of relevant previous studies. This study employs a quantitative research approach using primary data. Data were collected through an online questionnaire distributed to 131 respondents at the Construction Services Development Board of the Ministry of Public Works and subsequently analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM). The results indicate that governance, regulations and policies, human resources, leadership commitment, performance-based budgeting, and the Government Internal Control System (SPIP) each have a positive and significant effect on Government Performance Accountability. Furthermore, the findings reveal that the Electronic-Based Government System (SPBE) significantly strengthens the effects of these factors on Government Performance Accountability, confirming its role as an effective moderating variable. These results suggest that digitalization not only supports administrative efficiency but also reinforces the underlying mechanisms of institutional accountability. Therefore, to enhance accountability within non-structural public institutions, the implementation and utilization of SPBE should be further strengthened alongside continued improvements in governance practices, human resource capacity, and leadership commitment across relevant government agencies.
Co-Authors Adinda Fakhra Shaliha Almi Hafiz Almira Raina, Andi Tendri Angela Valonika Ari Kurnianto Aristi Prita Isywara Aulia Fuad Rahman Auliya Urahman Aviyanti, Richo Diana Ayu Aryista Dewi Ayu Puspitaningrum Candra Bayu Pradana Putra Cecep Kusmana Deka Bayu Dirgantara Devy Pusposari Dewi, Jeihan Nur Kusuma Eko Ganis Sukoharsono Erlina Diamastuti Erwin Saraswati Fadhilah Dzikrulla Akbar Fadilatur Romadhan Febby Olvyana Susanto Ferica Christinawati Putri Firda Ainun Nabila Hanafia, Haffan Hisky Ryan Kawulur Imam Subekti Indra Wijaya Kusuma Istigfarin, Wilda Auwalina Isywara, Aristi Prita Jayawarsa, A.A. Ketut Kadek Weda Noveadjani Tista Kartika Sari Khoiru Rusydi, Mohamad Lamato, Alya Shafira Lubis, Destri Maulina Maria Gratia Maulana Fitri Agustin Nur Wahyuni Md-Shahbudin, Amirul Shah Mellani, Endy Dwi Mokhamad Nur Muhammad Rifqi Waliudin Muharini, Naila Salsabilla Musyahadah, Cheisa Wasila Nabella, Rihana Sofie Nanik Wahyuni ‎ Ni Luh Putri Setyastrini Nimas Tasia, Winda Rein Noval Adib Noval Adib Novianti Mukti Wibowo Nugraha, Ilham Ramadhan Nurlita Novianti Nurul Badriyah Putu Ambika Apsari Kesuma Putri R. Radeetha Rachmawati, Ayu Radeetha, Radeetha Ramadhan, Fadilatur Rihana Sofie Nabella Robasa, Ruben Roekhudin, Roekhudin Rohmi, Sania Khoridatur Salisa, Meilenia Rahma Santosa, Kezia Virginia Elok Sari Atmini Sari Atmini Setyo Tri Wahyudi Shahbudin, Amirul Shah Md Shinta Maharani Sutri Rahayu Truly Wulandari Truly Wulandari Virginia Nur Rahmanti Wahyuni, Maulana Fitri Agustustin Nur Wibisono, Muhammad Ezra Wihelmina Dea Kosasih Wiwik Saraswati, Wiwik Wuryan Andayani Yeney Widya Prihatiningtias Yetri Martika Sari