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All Journal Journal of Accounting and Investment Fokus Bisnis: Media Pengkajian Manajemen dan Akuntansi
Lutfiani, Asri Pangestika
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Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Social Sciences Other

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Voluntary disclosure with the International Integrated Reporting Council (IIRC) framework and value relevance Lutfiani, Asri Pangestika; Fatah, Khoirul; Hudaya, Fadli
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.v25i1.19786

Abstract

Research aims: This paper aims to investigate whether voluntary disclosure of integrated reports (IR) with the International Integrated Reporting Council (IIRC) framework influences value relevance in Indonesia.Design/Methodology/Approach: The data covered the period 2017-2022 of all manufacturing companies in Indonesia listed on the Indonesia Stock Exchange (IDX). The total sample of this study was 606 firm-year observations. An IR Score was developed using the International IR Framework 2013, and content analysis was performed to measure IR adoption and practice. This study employed multiple linear regression to test the hypothesis. The authors also used two models: the Pricing Model for testing the main result and the Ohlson Model for testing robustness. Research findings: The result claims that the IR score yielded a positive and statistically significant effect on the value relevance of the company. In other words, companies with higher IR scores will also have a higher value relevance.Theoretical contribution/ Originality: First, this study contributes to the literature in accounting, stating that companies that adopt the IR framework can increase the value relevance. Second, by using different models to test the hypothesis, the results of this paper exhibit a consistent relationship.Practitioner/Policy implication: The study's findings help regulators develop new regulations.Research limitation/Implication: This research could only be generalized to Indonesian manufacturing companies. In addition, a significant number of Indonesian manufacturing companies continue to fail to submit integrated reports.
ESG Performance and Ownership Structure on Cost of Capital and Research & Development Investment Lutfiani, Asri Pangestika; Hidayah, Rini
Fokus Bisnis Media Pengkajian Manajemen dan Akuntansi Vol. 21 No. 1 (2022): Fokus Bisnis
Publisher : LP3M Universitas Putra Bangsa

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32639/fokbis.v21i1.26

Abstract

This study aims to determine the effect of ESG performance, institutional ownership, insider ownership, block holder ownership, and foreign ownership on the cost of capital and investment of research and development (R&D). The sample of this study is companies listed on the Indonesia Stock Exchange (BEI) for 2016-2020. The sample selection uses the purposive sampling method and collects through the Thomson Reuters Database and annual report. The results of this study indicate that ESG performance, institutional ownership, and foreign ownership have a negative significant effect on the cost of capital, insider ownership has a positive significant effect on the cost of capital, but block holder ownership does not show a significant relationship to the cost of capital. As for the relationship to research and development investment, only ESG performance, institutional ownership, and foreign ownership have a positive significant effect, the other two types of ownership have a negative and significant effect.
Co-Authors Fatah, Khoirul HIDAYAH, RINI Hudaya, Fadli