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All Journal Jurnal Keuangan dan Perbankan Journal of Accounting and Investment The Asian Journal of Technology Management (AJTM) Jurnal Manajemen & Keuangan Jurnal Riset Manajemen dan Bisnis (JRMB) Fakultas Ekonomi UNIAT International Research Journal of Business Studies (E-Journal) JIA (Jurnal Ilmiah Akuntansi) Akurasi : Jurnal Studi Akuntansi dan Keuangan Studi Akuntansi dan Keuangan Indonesia (SAKI) Bina Ekonomi: Majalah Ilmiah Fakultas Ekonomi Universitas Katolik Parahyangan International Research Journal of Business Studies
Adrian Teja
Universitas Prasetiya Mulya
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Environmental Science Social Sciences Other

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Environmental, Social and Governance Disclosure Scores and Tax Avoidance Adrian Teja
Jurnal Ilmiah Akuntansi Vol 9 No 1 (2024)
Publisher : Universitas Pendidikan Ganesha

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23887/jia.v9i1.69573

Abstract

This paper aims to understand the effect of Environmental, Social, and Governance (ESG) disclosure scores on tax avoidance. The sample consists of public firms listed on the Indonesia Stock Exchange, excluding those in the financial services industry, for the period 2015-2021. We employ panel data regression methods, with the dependent variable being the total of deferred tax assets and liabilities and the independent variable being the Bloomberg ESG disclosure scores. The effect of Bloomberg ESG disclosure scores on tax avoidance is controlled by firm leverage, profitability, growth, and size. Our findings indicate that higher Bloomberg ESG disclosure scores have a positive effect on deferred tax assets relative to deferred tax liabilities. This suggests that firms with high Bloomberg ESG disclosure scores contribute to indirect stakeholders, reflecting a broader commitment beyond direct stakeholders. Additionally, we do not find statistical evidence of a significant effect of a firm's financial constraints and growth opportunities on the deferred tax assets relative to deferred tax liabilities. These results imply that tax avoidance is more influenced by a firm's commitment to ESG principles rather than its financial capabilities and growth opportunities. This research provides valuable insights for policymakers and corporate managers, highlighting the importance of ESG disclosure in shaping tax-related strategies and demonstrating a firm’s commitment to broader stakeholder engagement.
Governance systems and CEO tenure on ESG disclosure scores in the banking industry Teja, Adrian
Jurnal Keuangan dan Perbankan Vol 27, No 3 (2023): July 2023
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/jkdp.v27i3.11383

Abstract

The study aims to understand the effect of governance systems, i.e., Anglo-Saxon and Continental, and CEO tenure on ESG (Environmental, Social, and Governance) and each pillar, i.e., E, S, and G disclosure scores. The sample is banking stock in ASEAN (Association of Southeast Asian Nations) countries, such as Indonesia, Malaysia, Thailand, and the Philippines, for 2015-2021. The data is analyzed using panel data regression. The findings show that Continental governance systems experience faster improvement in ESG and E disclosure scores than Anglo-Saxon governance systems but failed to catching-up on G disclosure scores; CEO with longer tenure has more commitment to ESG and E disclosure scores; and the CEO, regardless of their tenure, already have the commitment for S and G disclosure scores. DOI: 10.26905/jkdp.v27i3.11383 
A Model to Identify the Potential Target for Leveraged Buyout Hermawan, Devina; Tanuwijaya, Elaine; Aditama, Jonathan; Kusno, John Iwan; Teja, Adrian
Jurnal Keuangan dan Perbankan Vol 26, No 1 (2022): January 2022
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/jkdp.v26i1.6265

Abstract

This study aims to find a model based on agency theory to identify the target firms of leveraged buyout (LBO) transactions one year ahead. The likelihood of a firm being a target in an LBO transaction is estimated using logistic regression. The dependent variable is defined as one for the LBO target and zeroes otherwise. The independent variables are a firm's financial characteristics related to agency problems: leverage, tangible assets, free cash flow, market-to-book value ratio, profitability, and revenue growth. The sample is public-to-private LBO transactions in the United States from 2009 to 2019. We find that a firm with high leverage and free cash flow is more likely to become an LBO target. The findings are consistent with the agency theory. The management uses firm high free cash flow to gain more debt to pursue their benefits which is detrimental to shareholders' interest. Contrary to previous research, the firm's tangible asset does not increase the likelihood of becoming an LBO target.
The effect of COVID-19 and CEO tenure on environmental and social disclosure scores Teja, Adrian
Journal of Accounting and Investment Vol 25, No 1: January 2024
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jai.v25i1.20376

Abstract

Research aims: The study aims to understand the effect of COVID-19 and the tenure of Chief Executive Officers (CEOs) on environmental and social disclosure scores.Design/Methodology/Approach: The research sample included listed Indonesian firms, excluding those in the financial sector, for 2015-2021. The samples were analyzed by cross-sectional data regression and controlled by corporate governance mechanisms proxied by the number of women and independent Boards of Commissioners, leverage, size, profitability, and growth opportunity proxied by price-to-book-value ratio and capital-expenditure-to-depreciation ratio.Research Findings: The COVID-19 pandemic has positively affected environmental and social disclosure scores. While CEO tenure negatively affected social disclosure scores, its effect on environmental disclosure scores was statistically insignificant.Theoretical Contribution/Originality: The study provides empirical evidence on the progression of change in environmental and social disclosure scores triggered by COVID-19.Practitioner/Policy Implications: CEOs need to be persuaded and incentivized to increase their firms’ commitment to enhancing social performance and disclosure scores after COVID-19.Research Limitation/Implications: The effect of the COVID-19 pandemic and CEO tenure on environmental and social disclosure scores from firms with high stock market capitalization were analyzed. The data did not yet consider the medium and small stock market capitalization firms.
Effect of Corporate and Dividend Income Tax Rates on Bank Capital Teja, Adrian
International Research Journal of Business Studies Vol. 15 No. 2 (2022): August - November 2022
Publisher : Universitas Prasetiya Mulya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21632/irjbs.15.2.167-176

Abstract

The study uses quantitative method to estimate the effect of Corporate-and Dividend-Income-Tax rates on Total-Bank-Capital, Tier-1-Bank-Capital, and Tier-2-Bank-Capital ratios. The samples are banks from ASEAN-4 countries, i.e. Indonesia, Malaysia, The Philippines, and Thailand, taken in 2020. The effects of Corporate- and Dividend-Income-Tax on Total-Bank-Capital, Tier1-Bank-Capital, and Tier-2-Bank-Capital ratios were analyzed using cross-section regression. We placed Total-Bank-Capital, Tier-1-Bank-Capital, and Tier-2-Bank-Capital ratios as the dependent variable. Corporate- and Dividend-Income-Tax rates were placed as the independent variable. Both Corporate-and Dividend-Income-Tax rates are statistically significant and positively affect the Total-Bank-Capital and Tier-1-Bank-Capital. The findings suggest that high Corporate- and Dividend-Income-Tax rates reduce banks’ significant risks. Corporate-Income-Tax rates and negatively affect Tier-2-Bank-Capital. The finding suggests that lower tax rates will induce banks to increase their Tier-2-Bank-Capital ratio. However the effect of Dividend-Income-Tax rates on Tier-2-Bank-Capital is not statistically significant.
Co-Authors Aditama, Jonathan Angel Angel Devina Hermawan, Devina Grace Then Hendra Fong John Iwan Kusno Michael Gunawan Tanuwijaya, Elaine Trixie Josunarto Veeghan Frances Tirtasaputra Veren Geby Salim Winston Sutandar