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All Journal Jurnal Akuntansi & Auditing Indonesia EL-MUHASABA Jurnal Dinamika Akuntansi Journal of Accounting and Investment Fair Value: Jurnal Ilmiah Akuntansi dan Keuangan Jurnal Akuntansi Bisnis Budapest International Research and Critics Institute-Journal (BIRCI-Journal): Humanities and Social Sciences DEDIKASI PKM Jurnal Abdi Panca Marga Jurnal Dinamika Akuntansi dan Bisnis (JDAB) Mitra Abdimas: Jurnal Pengabdian kepada Masyarakat Jurnal Pengabdian Kepada Masyarakat Ekonomi, Pendidikan, dan Sosial Humaniora Business, Accounting, and Knowledge Journal
Akhmad Samsul Ulum
Jurusan Akuntansi, Fakultas Ekonomi, Universitas Pekalongan Indonesia Jalan Sriwijaya No. 3 Pekalongan
Religion Agriculture, Biological Sciences & Forestry Arts Humanities Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Energy Engineering Law, Crime, Criminology & Criminal Justice Library & Information Science Mechanical Engineering Physics Social Sciences Other

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COVID-19 Spread and Financial Distress: Does Managerial Ability Matter? Kushermanto, Andi; Alisa, Inayah Risqi; Ulum, Akhmad Samsul; Zulaikha, .
Jurnal Dinamika Akuntansi dan Bisnis Vol 10, No 2 (2023): September 2023
Publisher : Accounting Departement Economics and Business Faculty Syiah Kuala University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24815/jdab.v10i2.28905

Abstract

The COVID-19 pandemic has caused a global-scale economic crisis. This study aims to examine the impact of the COVID-19 spread on financial distress and the moderating role of managerial ability in the relationship between the COVID-19 spread and financial distress. The population of this study is manufacturing companies listed on the Indonesian Stock Exchange between 2017 and 2021. Using purposive sampling techniques, 31 companies were selected as the samples (155 firm-year observations). Data were collected from the companies financial statements and were analyzed using Partial Least Squares (PLS)-Structural Equation Modeling (SEM). The results of this study indicate that the COVID-19 spread has a positive effect on financial distress. Furthermore, managerial ability is a moderating factor that weakens the influence of the COVID-19 spread on financial distress. This study provides evidence that managerial ability is an important factor in managing company resources and is related to the company's efforts in dealing with the crisis caused by the COVID-19 spread.
LITERASI KEUANGAN UNTUK OPTIMALISASI PENGELOLAAN KEUANGAN UMKM DI DESA SUMURJOMBLANGBOGO, KECAMATAN BOJONG Meliza, Meliza; Ilmiani, Amalia; Ulum, Akhmad Samsul
Abdi Panca Marga Vol 4 No 2 (2023): Jurnal Abdi Panca Marga Edisi November 2023
Publisher : Lembaga Penelitian dan Pengabdian Kepada Masyarakat (LPPM) Universitas Panca Marga Probolinggo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.51747/abdipancamarga.v4i2.1730

Abstract

Understanding of low financial literacy results in Micro, Small and Medium Enterprises (MSMEs) being unable to utilize existing financial products and services. This community service activity aims to increase MSME financial literacy so that they can optimize their financial management. Participants in this PkM activity are MSME actors who are members of a joint business group (KUBE) in Sumurjomblangbogo Village, Bojong District, Pekalongan Regency. The PkM method is carried out in four stages consisting of identification, training in preparing financial reports, socialization on how to apply for a loan, and evaluation. The results of the activity showed that before the socialization about financial literacy was held, only 40% of the participants understood about financial products and services, while only 65% of the total participants understood the importance of financial management. After socialization, 90% of participants understood the importance of financial management, while 84% of participants understood loan products from banks. Keywords: Financial Literacy.
The role of institutional quality in moderating tax revenue, revenue-sharing funds from natural resources, and government expenditure on inclusive economic growth Meliza, Meliza; Ulum, Akhmad Samsul
Jurnal Akuntansi dan Auditing Indonesia Vol 29, No 2 (2025)
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.vol29.iss2.art1

Abstract

This study aims to provide empirical evidence regarding the influence of tax revenue, revenue-sharing funds from natural resources, and government expenditure on the inclusive economic growth of district and city governments in Indonesia, and the role of institutional quality in moderating these relationships. This study used panel data, with an observation period of 2019–2023 across 515 district and city governments in Indonesia. A total of 2,575 observations of the final sample data were obtained using a purposive sampling method, and the hypothesis testing used Partial Least Squares Structural Equation Modelling (PLS-SEM). The PLS-SEM analysis revealed that tax revenue and government expenditure move in the same direction as inclusive economic growth in district and city governments in Indonesia. However, revenue-sharing funds from natural resources have a negative impact on inclusive economic growth. Institutional quality successfully moderates the effect of tax revenue mobilisation and government expenditure on inclusive economic growth. However, it fails to moderate the relationship between revenue-sharing funds from natural resources and inclusive economic growth.
Corporate social responsibility and financial performance: managerial ownership as the moderating variable Theresia Angelina Susanto; Akhmad Samsul Ulum; Dina Amalia Mahmudah
Business, Accounting, and Knowledge Journal Vol 1 No 1 (2024): Business, Accounting, and Knowledge Journal
Publisher : Universitas Pekalongan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31941/batik.v1i1.188

Abstract

This research aims to provide empirical evidence about the influence of corporate social responsibility (CSR) on financial performance, with managerial ownership as a moderating variable. The sample in this research is property and real estate companies that registered with Exchange Effect Indonesia in the years 2016–2020. Sample study This is a total of six companies with 30 observations. Analysis of this research data using SEM-PLS. The results of the study with SEM-PLS show that CSR is influential and positive for performance finance, which is measured by ROE and growth income. Managerial ownership cannot moderate the relationship between CSR and financial performance, which is measured using ROE, but managerial ownership is able to moderate the connection between CSR and performance finance, which can be measured using growth income.
The influence of ownership structure, board of directors, and the audit committee on sustainability report disclosure Wahidah Purnamasari; Akhmad Samsul Ulum; Titi Rahayu Prasetiani
Business, Accounting, and Knowledge Journal Vol 1 No 1 (2024): Business, Accounting, and Knowledge Journal
Publisher : Universitas Pekalongan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31941/batik.v1i1.190

Abstract

This study aims to analyze the influence of ownership structure, the board of directors, and audit committees on the disclosure of sustainability reports in the main sector companies listed on the Indonesia Stock Exchange in 2018–2021. This type of research is called correlational research. The population in this study are the main sector companies listed on the IDX in 2018–2021. The sampling technique used was the purposive sampling method, which obtained as many as 13 companies that match the research criteria. The analysis technique used in this study is a multiple linear regression analysis. The results of the study show that the ownership structure has no effect on sustainability report disclosures. The Board of Directors has no effect on the Sustainability Report Disclosure. The Audit Committee has a positive and significant effect on sustainability report disclosures.
Analysis Of Monday Effect, Weekend Effect, and Rogalski Effect Anomalies Before And During The Covid-19 Pandemic Period (Study on LQ-45 Index Companies Listed on The Indonesia Stock Exchange) Nadia Putri Kamila; Iis Duwinaeni; Akhmad Samsul Ulum; Inayah Risqi Alisa
Business, Accounting, and Knowledge Journal Vol 2 No 1 (2025): Business, Accounting, and Knowledge Journal
Publisher : Universitas Pekalongan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31941/batik.v1i2.365

Abstract

The purpose of this research is to. (1) To find out the difference in stock returns on the Monday effect before and during the Covid-19 pandemic on the LQ-45 stock index listed on the Indonesia Stock Exchange. (2) To find out the differences in stock returns in Weekend effect before and during the Covid-19 pandemic on the LQ-45 stock index listed on the Indonesia Stock Exchange. (3) To find out the difference in stock returns on the Rogalski effect before and during the Covid-19 pandemic on the LQ-45 stock index listed on the Indonesia Stock Exchange. This research is an empirical study on Monday stock returns, Friday stock returns, and Monday stock returns in April with a comparative method. The sample used in this research is data daily stock returns of companies included in the LQ-45 period before (February 2019 – January 2020) and during (February 2020 – January 2021) the Covid-19 pandemic, namely 36 companies. The data analysis technique used was paired sample t-test for H1, H2 and H3. The results of the study show that: (H1) there is no significant difference between stock returns on Mondays before the Covid-19 pandemic and stock returns on Mondays during the Covid-19 pandemic on the Indonesia Stock Exchange from February 2019 to January 2021. ( H2) shows a significant difference between stock returns on Friday before the Covid-19 pandemic and stock returns on Monday during the Covid-19 pandemic on the Indonesia Stock Exchange from February 2019 to January 2021. (H3) shows a significant difference between stock returns on Mondays in April before the Covid-19 pandemic and stock returns on Mondays during the Covid-19 pandemic on the Indonesia Stock Exchange in February 2019 to January 2021. The purpose of this research is to. (1) To find out the difference in stock returns on the Monday effect before and during the Covid-19 pandemic on the LQ-45 stock index listed on the Indonesia Stock Exchange. (2) To find out the differences in stock returns in Weekend effect before and during the Covid-19 pandemic on the LQ-45 stock index listed on the Indonesia Stock Exchange. (3) To find out the difference in stock returns on the Rogalski effect before and during the Covid-19 pandemic on the LQ-45 stock index listed on the Indonesia Stock Exchange. This research is an empirical study on Monday stock returns, Friday stock returns, and Monday stock returns in April with a comparative method. The sample used in this research is data daily stock returns of companies included in the LQ-45 period before (February 2019 – January 2020) and during (February 2020 – January 2021) the Covid-19 pandemic, namely 36 companies. The data analysis technique used was paired sample t-test for H1, H2 and H3. The results of the study show that: (H1) there is no significant difference between stock returns on Mondays before the Covid-19 pandemic and stock returns on Mondays during the Covid-19 pandemic on the Indonesia Stock Exchange from February 2019 to January 2021. ( H2) shows a significant difference between stock returns on Friday before the Covid-19 pandemic and stock returns on Monday during the Covid-19 pandemic on the Indonesia Stock Exchange from February 2019 to January 2021. (H3) shows a significant difference between stock returns on Mondays in April before the Covid-19 pandemic and stock returns on Mondays during the Covid-19 pandemic on the Indonesia Stock Exchange in February 2019 to January 2021.
The Effect of Leverage on Financial Distress: The Moderating Roles of Executive International Experience and CEO Gender in Indonesian State-Owned Non-Financial Enterprises Nevia Dian Sasmita; Akhmad Samsul Ulum
Business, Accounting, and Knowledge Journal Vol 3 No 2 (2026): Business, Accounting, and Knowledge Journal
Publisher : Universitas Pekalongan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31941/batik.v3i2.1032

Abstract

The increasing incidence of financial distress among state-owned enterprises (SOEs) has become a major concern, particularly in emerging economies where firms are required to balance financial performance with public service obligations. This study explores the effect of leverage on financial distress and examines whether executive international experience and CEO gender moderate this relationship. The study adopts a quantitative explanatory approach using panel data derived from the annual reports of Indonesian non-financial SOEs during the 2019–2023 period. The research sample was determined through purposive sampling according to predefined selection criteria. Financial distress was assessed using the Altman Z-Score, while leverage was measured by the debt-to-asset ratio. Executive international experience and CEO gender were treated as moderating variables. The proposed relationships were analyzed using Moderated Regression Analysis (MRA). The findings demonstrate that higher leverage significantly increases the probability of financial distress, indicating that excessive debt financing reduces corporate financial resilience. Furthermore, executive international experience significantly mitigates the negative impact of leverage by enhancing strategic judgment, strengthening financial risk management, and improving the quality of corporate decision-making. However, CEO gender does not exert a significant moderating effect, suggesting that governance quality, managerial competence, and organizational resources play a more decisive role in determining financial stability than the gender of the chief executive officer. This study enriches the literature on financial distress by highlighting the importance of executive capabilities in influencing the effectiveness of capital structure decisions within Indonesian SOEs. The findings also provide practical guidance for government shareholders and corporate boards in formulating executive appointment policies and governance practices that support sustainable organizational performance.
Navigating Financial Distress: How Board Gender Diversity Moderates the Impact of Leverage and Total Asset Turnover Diah Ayu Anggraeni; Andi Kushermanto; Akhmad Samsul Ulum; Erika Febryanti
EL MUHASABA: Jurnal Akuntansi (e-Journal) Vol 16, No 2 (2025): EL MUHASABA
Publisher : Jurusan Akuntansi Fakultas Ekonomi Universitas Islam Negeri Maulana Malik Ibrahim Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18860/em.v16i2.33360

Abstract

Purpose: This research aims to analyze the influence of leverage and total asset turnover on financial distress in non-cyclical consumer sector companies listed on the IDX, as well as the moderating role of board gender diversity in enhancing financial stability. Method: Using the SEM-PLS approach with WarpPLS 8.0, data from 113 companies during 2018–2022 were analyzed through purposive sampling. The moderating variable in the form of gender diversity on the board of directors was used to examine its influence on the strength and direction of the relationships between variables. Results: The results show that leverage has a positive effect on financial distress, while total asset turnover has a negative effect. Gender diversity on the board has been proven to weaken the negative impact of leverage and strengthen the positive impact of asset turnover on reducing distress. This shows that a gender-diverse board of directors plays an important role in enhancing the company's resilience by influencing financial health strategies. Implications: Gender diversity on the board of directors can be an effective strategy for risk mitigation and financial stability. These findings support the implementation of policies that promote inclusivity in corporate governance. This research emphasizes the potential of gender diversity to serve as a catalyst for more robust, transparent, and sustainable corporate governance practices. Novelty: This study fills the gap in previous research that produced inconsistent findings regarding the impact of total asset turnover and gender diversity independently. This research uniquely demonstrates that board gender diversity actively moderates the impact of leverage and asset efficiency on financial distress—particularly in emerging markets and the non-cyclical consumer sector.
Co-Authors Ahmad Syaiful Affa Alisa, Inayah Risqi Amalia M.Si SE. Ilmiani Andi Kushermanto Anggrainy Putri Ayuningrum Arum Ardianingsih Catur Ragil Sutrisno Chalimah Dewi Yuniar Magetana Dewi, Kartika Sandra Diah Ayu Anggraeni Dian Priatiningsih Dina Amalia Mahmudah Erika Febryanti Febriyanti, Erika Iis Duwinaeni Inayah Risqi Alisa Kaujan, Kaujan Komala Ardiyani M. Maulidin Fachrur Meliza Meliza Mella Mardayanti Nadia Putri Kamila Nevia Dian Sasmita Nur Utomo, Mohamad Rosa Arlina Nurulita Susanto, Evelin Vincent Syafnita M.Si SE. Syahran, Syahran Taruna, M. Sigit Theresia Angelina Susanto Titi Rahayu Prasetiani Wahidah Purnamasari Zulaikha, .