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All Journal JURNAL AKUNTANSI DAN AUDITING Owner : Riset dan Jurnal Akuntansi IKRA-ITH EKONOMIKA MEDIA BISNIS Golden Ratio of Auditing Research Jurnal Ekonomi Trisakti IIJSE Golden Ratio of Taxation Studies
Wardhani, Nurhastuty Kesumo
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Economics, Econometrics & Finance Environmental Science Law, Crime, Criminology & Criminal Justice Social Sciences

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THE EFFECT OF MANAGERIAL OWNERSHIP, WORKING CAPITAL MANAGEMENT, AND EXECUTIVE COMPENSATION ON COMPANY PROFITABILITY Wardhani, Nurhastuty Kesumo; Junaedi, Daniel; Khomsiyah, Khomsiyah
JURNAL AKUNTANSI DAN AUDITING Volume 20, Nomor 1, Tahun 2023
Publisher : Department of Accounting, Faculty of Economics & Business, Universitas Diponegoro

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14710/jaa.20.1.19-31

Abstract

Several things that can impact the Profitability of a Company might be the size of the free cash flow, the managerial ownership structure, working capital management, and executive compensation. Once a Company has greater availability of free cash flow, the company has a greater ability to circulate the flow of money for the Company's operations in generating profits. The author’s purpose of research is to see the effect of managerial ownership structure, working capital management, and executive compensation on the profitability on manufacture Companies 'sub-sector chemicals listed on the Indonesia Stock Exchange from 2016 to 2020.Purposive sampling is the method being used by the Author, with the criteria of manufacturing Companies'sub-sector chemicals listed on the Indonesia Stock Exchange, which submitted consolidated financial statements from the year 2016-2020, the companies which earned profit from the year 2016-2020, rupiah currency and the company which listed from 2016-2020. The author decided to use dimensions of the days of sales inventory in this study in order to measure working capital management. The firm’s profitability is measured by Return On Assets. The analytical technique used is multiple linear regression. Keywords: Managerial Ownership, Working Capital Management, Executive Compensation, Free Cash Flow, Profitability
Analysis of Transfer Pricing Practices in Avoiding Tax Payments in Indonesia Gultom, Irfan Marganda; Wardhani, Nurhastuty Kesumo
Golden Ratio of Taxation Studies Vol. 5 No. 2 (2025): June - November
Publisher : Manunggal Halim Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52970/grts.v5i2.1586

Abstract

This study aims to analyze the transfer pricing practices by PT. XX in efforts to avoid tax payments in Indonesia and to identify the methods used to reduce tax burdens through profit shifting. The approach used is a qualitative method with a case study on PT. XX, supported by a review of literature and tax regulations, including the Minister of Finance Regulation No. 22/PMK.03/2020. Data were obtained from interviews with PT—XX employees, as well as an analysis of two contracts and relevant types of internal transactions. The results show that PT. XX's transfer pricing practices include strategies such as profit shifting, charging unreasonably high costs, and utilizing jurisdictions with lower tax rates. Regulatory gaps, the complexity of cross-border transactions, and weak supervision are factors driving these practices. Case studies of other companies, such as PT Adaro Energy Tbk, PT Toyota Motor Manufacturing Indonesia, and PT Toba Pulp Lestari, confirm the significant impact of these practices on the country's tax revenue. The study recommends strengthening regulations, enhancing the capacity of tax supervisory authorities, and harmonizing international standards related to transfer pricing. Additionally, companies are advised to implement Good Corporate Governance principles, and the government should improve its monitoring systems for affiliate transactions to reduce the risk of tax avoidance, particularly for specific products or services of PT. XX makes comparisons with other companies difficult, underscoring the need for further research on this issue.
Firm Value in the Sustainability Era: an Analysis of Green Accounting, ROA, and Firm Size Putri, Zahra Vania; Wardhani, Nurhastuty Kesumo
Media Bisnis Vol. 17 No. 2 (2025): Media Bisnis
Publisher : Pusat Penelitian dan Pengabdian kepada Masyarakat Sekolah Tinggi Ilmu Ekonomi Trisakti

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.34208/mb.v17i2.2928

Abstract

This study aims to obtain empirical evidence on the influence of green accounting, profitability, and firm size on firm value. The main issue addressed is the inconsistency of previous findings regarding the determinants of firm value, particularly in Non-Cyclicals and Cyclicals sectors. The population includes companies from both sectors listed on the Indonesia Stock Exchange (IDX) during the 2021–2024 period. The sample was selected using purposive sampling, resulting in 21 companies with a total of 84 observations. Data were analyzed using multiple linear regression. The results show that profitability has a significant positive effect on firm value, indicating that earnings performance is a key indicator for investors in evaluating company prospects. Meanwhile, green accounting and firm size do not significantly affect firm value. These findings imply that environmental cost reporting is not yet considered a critical factor by investors in their investment decisions. Therefore, companies should consider adopting a more comprehensive sustainability reporting strategy to enhance investor perception and long-term value.
The Effect of Sustainability Report Disclosure and Firm Size on Firm Value with Profitability as a Moderating Variable: A Study of Mining Companies in Indonesia Sonnya, Sheilla; Wardhani, Nurhastuty Kesumo
Golden Ratio of Auditing Research Vol. 6 No. 1 (2026): July - January
Publisher : Manunggal Halim Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52970/grar.v6i1.1573

Abstract

This study examines the effect of sustainability report disclosure and firm size on firm value, with profitability as a moderating variable. A quantitative approach was employed, using secondary data obtained from financial statements, annual reports, and sustainability reports of mining companies listed on the Indonesia Stock Exchange (IDX), as well as information from the companies’ official websites, covering the period 2021–2023. Firm value was measured using Tobin’s Q ratio, sustainability report disclosure was assessed through the Sustainability Report Disclosure Index (SRDI) based on GRI standards, firm size was proxied by the natural logarithm of total assets, and profitability was measured using return on assets (ROA). The findings reveal that sustainability report disclosure does not have a significant effect on firm value, whereas firm size exerts a positive and significant effect. Moreover, profitability does not moderate the relationship between sustainability report disclosure and firm value, but it does strengthen the relationship between firm size and firm value in the mining sector. The findings imply that companies should enhance the quality of sustainability reports and integrate them into core business strategies, while investors are advised to evaluate both profitability and report quality for better insights into firm value. Future research may expand samples, extend periods, or explore other industries for comparison.
The Influence of Carbon Emission Disclosure and Green Innovation on Firm Value with Profitability as a Moderating Variable Nabila, Tasya; Wardhani, Nurhastuty Kesumo
Golden Ratio of Auditing Research Vol. 6 No. 1 (2026): July - January
Publisher : Manunggal Halim Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52970/grar.v6i1.1662

Abstract

This study aims to analyze the effects of Carbon Emission Disclosure and Green Innovation on firm value, with Profitability as a moderating variable. Firm value in this study is measured using the Tobin Q ratio. The data were obtained from Annual Reports and Sustainability Reports through purposive sampling, resulting in a sample of 19 companies with a total of 76 observations. Data analysis was conducted using Moderated Regression Analysis (MRA) in SPSS Software version 26 to examine the effect of independent variables and the role of the moderating variable. The hypothesis testing results indicate that Carbon Emission Disclosure and Green Innovation have a significant effect on firm value, whereas Profitability does not moderate the effect of Carbon Emission Disclosure and Green Innovation on firm value. These findings suggest that when companies transparently disclose their carbon emission data and undertake environmentally supportive innovations, it enhances the firm's value. Meanwhile, the level of profitability does not alter or influence the relationship between carbon emission disclosure and green innovation with firm value.
Analisis Dampak Implementasi PSAK 73 Bagi Lessee dan Lessor Gamalasari, Dinny; Wardhani, Nurhastuty Kesumo
Owner : Riset dan Jurnal Akuntansi Vol. 8 No. 3 (2024): Artikel Research July 2024
Publisher : Politeknik Ganesha Medan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33395/owner.v8i3.2262

Abstract

This research aims to analyze the impact of implementing PSAK 73 for lessee and lessors in companies in Indonesia. This research focus on the impact of implementing PSAK 73 in terms of financial performance and tax aspects in the mining sector (lessee) and the property & real estate sector (lessor). This research uses a qualitative approach with content analysis. The research data comprises audited financial reports obtained from the Indonesian Stock Exchange for the years 2018 to 2022. The results of this this study shows that there are differences in recording from the lessee side by recording the right of use assets and lease liabilities for the leased assets while the lessor side still continues the accounting standards that have been applied before. The application of PSAK 73 in the mining sector and the property and real estate sector does not have a significant impact on the company's financial statements. The company's financial performance and recording differences between accounting and tax are influenced by other factors. In addition, the results of this study indicate that companies need to mitigate the risks associated with changes in applicable accounting standards. This research provides a better understanding of how companies challenges of implementing this new standard and show it affects stakeholders, such as investors, financial analysts, and regulators. It is hoped that the results of this research will provide insight into the context of changes in accounting standards in Indonesia and provide a basis for further discussion about more transparent and relevant financial reporting.
The Role of Green Accounting and Carbon Emission Disclosure in Increasing Firm Value Supriyanti, Erly; Wardhani, Nurhastuty Kesumo
Indonesian Interdisciplinary Journal of Sharia Economics (IIJSE) Vol 7 No 3 (2024): Sharia Economics
Publisher : Sharia Economics Department Universitas KH. Abdul Chalim, Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/iijse.v7i3.5611

Abstract

This research analyzes the role of green accounting and carbon emission disclosure in determining firm value. The population in the study consisted of companies that participated in the Company Performance Assessment Program in Environmental Management (PROPER) organized by the Ministry of Environment and Forestry (KLHK) during the 2020-2023 period. This research uses a purposive sampling technique in determining the sample with a sample size of 20 companies each year and is processed with the help of SPSS 25. This research uses multiple linear regression analysis to test the effect of green accounting and carbon emission disclosure on firm value. The research results indicate that green accounting significantly impacts firm value, and foreign ownership as a moderating variable strengthens the substantial and positive relationship between green accounting and firm value. Meanwhile, the carbon emission disclosure variable indicates that the results are insignificant to firm value.
The Accountability vs Transparency: Who is in Control in the Financial Management of Nonprofit Institutions? Julaika, Janny; Wardhani, Nurhastuty Kesumo
Indonesian Interdisciplinary Journal of Sharia Economics (IIJSE) Vol 7 No 3 (2024): Sharia Economics
Publisher : Sharia Economics Department Universitas KH. Abdul Chalim, Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/iijse.v7i3.5723

Abstract

The research aims to identify the influence of quantitative accountability, economic transparency, and internal control on the monetary control of non-profit organizations operating in network disciplines in Indonesia. The combination of accountability and transparency in financial management and accountability systems is used as a theoretical framework. The design/methods/techniques to be used in the study include quantitative methods. Data collected through the distribution of Google forms and manual questionnaires to respondents and the test tool used by Partial Least Square (PLS) based on financial accounting standards (ISAK) 35 proves that financial accountability and transparency systems affect Financial Management and Accountability. Accountability and transparency policies and practices are carried out. The results of this study are accountability has a significant effect on financial management, transparency has no significant effect on financial management and internal control has a significant effect on financial management. This research contributes to understanding the policy implementation and practice of liability and transparency in monetary control of non-profit groups, particularly in the Association environment, by demonstrating that the financial accountability system used today is aligned with applicable accounting standards. This research addresses the effect of economic taxation, economic surveillance, and price range transparency on monetary control. The results showed that the monetary responsibility of the organization using the traditional approach and not by ISAK 35 Accountability and Transparency developed so that it does not reflect management and accountability according to accounting standards. The financial position and cash flow statements show that there is no responsibility and the lack of transparency regarding financial management is proof of this.
ANALISIS PENGARUH BUDAYA ETIKA ORGANISASI, PENGENDALIAN INTERNAL, SERTA TATA KELOLA TERHADAP KEPATUHAN PAJAK Iriani, Zhesica Asih; Wardhani, Nurhastuty Kesumo
Jurnal Ekonomi Trisakti Vol. 6 No. 1 (2026): April
Publisher : Lembaga Penerbit Fakultas EKonomi dan Bisnis 

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.25105/jet.v6i1.25929

Abstract

Penelitian ini mengevaluasi dampak Budaya Etika Organisasi, Pengendalian Internal, serta Tata Kelola terhadap Tingkat Kepatuhan Pajak pada entitas bisnis di Indonesia. Populasi penelitian meliputi para profesional perpajakan dan akuntan yang beroperasi di berbagai bidang industri di kawasan Jabodetabek, mengingat posisi krusial mereka dalam implementasi mekanisme pengendalian, tata kelola, dan kepatuhan fiskal di dalam organisasi. Seleksi sampel dilakukan melalui teknik purposive sampling dengan melibatkan alumni Universitas Trisakti sebagai subjek, sehingga menghasilkan 149 responden yang sesuai dengan kriteria studi. Pengolahan data diterapkan menggunakan metode Partial Least Squares–Structural Equation Modeling (PLS-SEM) dengan pendekatan analisis jalur. Variabel bebas mencakup Budaya Etika Organisasi, Pengendalian Internal berdasarkan kerangka COSO, dan Tata Kelola, sementara Tingkat Kepatuhan Pajak berfungsi sebagai variabel terikat. Semua indikator diukur dengan skala Likert lima tingkat. Temuan penelitian mengindikasikan bahwa Budaya Etika Organisasi, Pengendalian Internal, dan Tata Kelola memberikan pengaruh positif serta signifikan terhadap Tingkat Kepatuhan Pajak. Kesimpulan ini menekankan bahwa penguatan nilai etika organisasional, keefektifan mekanisme pengendalian internal, serta implementasi tata kelola yang solid memainkan peran penting dalam mendorong kepatuhan pajak di tengah kerumitan regulasi dan tuntutan transparansi yang terus meningkat.
Pengaruh Kinerja Keuangan, dan Environment Disclosure, Social disclosure, Goverment Disclosure terhadap Nilai Perusahaan Najiya, Natasya Faiza; Nafis, Nugraha Fauzan; Ibrahim, Yusuf; Wardhani, Nurhastuty Kesumo
IKRAITH-EKONOMIKA Vol. 9 No. 2 (2026): IKRAITH-EKONOMIKA Vol 9 No 2 Juli 2026
Publisher : Universitas Persada Indonesia YAI

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

Nilai perusahaan mencerminkan tingkat kesejahteraan yang dinikmati oleh pemilik dan para pemegang saham. Tingkat kemakmuran ini tercermin melalui harga saham perusahaan di pasar. Dengan menggunakan variable Retun on Assets (ROA), Environmental Disclosure, Social disclosure, and Govenance Disclosure (ESG) sebagai variabel independen serta nilai perusahaan sebagai variabel dependen, penelitian ini bertujuan untuk memberikan bukti empiris mengenai faktor-faktor yang memengaruhi nilai perusahaan dalam sektor tersebut. Penelitian ini menggunakan pendekatan kuantitatif dengan mengandalkan data sekunder yang diperoleh dari laporan tahunan dan laporan keberlanjutan perusahaan yang tergabung dalam sektor Industrials dan terdaftar di Bursa Efek Indonesia selama periode 2021 hingga 2023. Berdasarkan temuan dari penelitian yang telah dilakukan untuk mengidentifikasi faktor-faktor yang mempengaruhi kelangsungan perusahaan perusahaan Energi yang terdaftar di Bursa Efek Indonesia pada tiga tahun pengamatan yaitu dari tahun 2022 sampai dengan tahun 2024, ditemukan bahwa bahwa Retun on Assets berpengaruh positif dan signifikan terhadap nilai perusahaan, Environmental Disclosure audit tidak berpengaruh signifikan terhadap nilai perusahaan Social disclosure tidak berpengaruh signifikan terhadap nilai perusahaan, dan Govenance Disclosure tidak berpengaruh signifikan terhadap nilai perusahaan.
Co-Authors Gamalasari, Dinny Gultom, Irfan Marganda Iriani, Zhesica Asih Julaika, Janny Junaedi, Daniel Khomsiyah, Khomsiyah Nabila, Tasya Nafis, Nugraha Fauzan Najiya, Natasya Faiza Putri, Zahra Vania Sonnya, Sheilla Supriyanti, Erly Yusuf Ibrahim