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All Journal Jurnal EMT KITA Dinasti International Journal of Economics, Finance & Accounting (DIJEFA) Journal of Applied Management Research JAKPI
Haji, Sapto
Unknown Affiliation
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Environmental Science Industrial & Manufacturing Engineering Social Sciences

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The Interaction of Corporate Governance, Growth, and Profitability on Earnings Quality: Firm Size as a Moderator Haji, Sapto; Adwimurti, Yudhistira; Rahmani, Hani Fitria; Sudrajat, Ayi Mohamad
Jurnal EMT KITA Vol 9 No 1 (2025): JANUARI 2025
Publisher : Lembaga Otonom Lembaga Informasi dan Riset Indonesia (KITA INFO dan RISET) - Lembaga KITA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35870/emt.v9i1.3382

Abstract

Earnings quality is a critical aspect of financial reporting that garners significant attention from investors and other stakeholders. This study aims to examine the effects of corporate governance, growth, and profitability on earnings quality, with a focus on the moderating role of company size. The research targets cyclic and non-cyclic companies listed on the Indonesia Stock Exchange (IDX) in 2023. Employing a quantitative approach with a cross-sectional design, data from 180 companies (90 cyclic and 90 non-cyclic) were analyzed. The study utilized moderated regression analysis with SPSS version 26. The findings indicate that corporate governance, growth, and profitability have a significant positive impact on earnings quality. Company size significantly moderates the relationship between corporate governance and profitability with earnings quality but does not significantly moderate the relationship between growth and earnings quality. Moreover, no significant differences were identified between cyclic and non-cyclic companies regarding factors affecting earnings quality. These results reinforce the applicability of Agency Theory and Signal Theory in understanding earnings quality within the Indonesian capital market. The findings highlight the necessity of enhancing corporate governance frameworks and emphasizing sustainable growth and profitability to improve earnings quality. This study contributes substantially to the body of literature on earnings quality in emerging markets and lays the groundwork for future research in this domain.
Does the Sustainability Report Influence Financial Performance in Indonesian Energy Companies? Haji, Sapto
Journal of Applied Management Research Vol. 3 No. 2 (2023)
Publisher : The Graduate School of Sahid University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36441/jamr.v3i2.2062

Abstract

This study empirically analyzes the influence of Sustainability Reporting on the financial performance of energy sector companies listed on the Indonesia Stock Exchange using a panel data regression. This study uses secondary data from Sustainability Reporting and financial reports of energy sector companies listed on the Indonesia Stock Exchange. Research findings on the Random Effect Model show that environmental, social, and governance performance scores do not have a significant effect on a company's financial performance. This is possible due to limited transparency regarding Sustainability Report performance scores. Leverage and company size contribute significantly to the company's financial performance. The publication of easily accessible financial reports makes investors take these two things into account as determinants of a company's financial performance. These research findings provide input for the Financial Services Authority to further encourage the publication of Sustainability Reports and publish company rankings based on their Sustainability Report performance. Future research may observe certain sectors with specific characteristics, and add intervening or moderating variables according to previous research findings.
The Effect of Derivative Hedging Policy on Cash Flow Volatility and Financial Performance in Export-Oriented Companies Paranita, Ekayana Sangkasari; Haji, Sapto
Dinasti International Journal of Economics, Finance & Accounting Vol. 6 No. 5 (2025): Dinasti International Journal of Economics, Finance & Accounting (November - De
Publisher : Dinasti Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.38035/dijefa.v6i5.5336

Abstract

This study analyzes the impact of derivatives hedging policies on cash flow volatility and the financial performance of export-oriented companies. Export companies face significant risks due to fluctuations in exchange rates and global market uncertainties, which affect their cash flows and overall financial stability. To mitigate these risks, companies often adopt derivatives hedging strategies, utilizing instruments such as forward contracts, futures, options, and swaps. This research adopts a Systematic Literature Review (SLR) approach, where a structured search and synthesis of relevant journal articles, academic books, and reports were performed to gather existing insights on derivatives hedging in export companies. The findings from the literature suggest that derivatives hedging policies are effective in reducing cash flow volatility and improving financial performance by providing stability in cash flows and mitigating risks associated with exchange rate fluctuations. However, the effectiveness of these hedging strategies is contingent on selecting appropriate instruments and aligning them with the company’s risk profile. This study also highlights the challenges posed by transaction costs and the complexity of implementing hedging policies. The research contributes to understanding how derivatives hedging policies can assist companies in managing external risks, and it offers recommendations for future research to explore the comparative effectiveness of various derivative instruments in enhancing the financial performance of companies across different sectors.
THE EFFECT OF CORPORATE SOCIAL RESPONSIBILITY AND OWNERSHIP STRUCTURE ON COMPANY VALUE WITH PROFITABILITY AS MODERATOR Haji, Sapto; Herawati, Vinola
Jurnal Akuntansi, Keuangan, Pajak dan Informasi (JAKPI) Vol 5, No 2 (2025)
Publisher : Unversitas Prof. Dr. Moestopo (Beragama)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32509/jakpi.v5i2.6606

Abstract

This study examines the effects of corporate social responsibility (CSR) disclosure quality and ownership structure on company value among Indonesian listed firms, with profitability serving as a moderating variable. The research addresses inconsistent findings in prior literature regarding CSR-value and ownership-value relationships by investigating whether financial performance conditions the effectiveness of these mechanisms. The study employs panel regression analysis on an unbalanced panel dataset comprising 612 non-financial firms listed on the Indonesia Stock Exchange, yielding 1,732 firm-year observations during 2022–2024. CSR disclosure is measured using a granular 0-to-3 scoring system based on the Global Reporting Initiative framework. Two model specifications are estimated: pooled ordinary least squares with sector and year fixed effects, and firm fixed-effects models, both utilizing clustered robust standard errors. CSR disclosure quality significantly enhances company value across both model specifications. Ownership structure demonstrates a significant positive effect in cross-sectional analysis but becomes insignificant under firm fixed-effects estimation. Profitability directly increases firm value and significantly strengthens the CSR-value relationship, functioning as a quasi-moderator. However, profitability does not moderate the ownership-value relationship, indicating that governance mechanisms operate independently of financial performance conditions. The three-year observation window may be insufficient to capture long-term CSR dynamics. Future research should employ extended longitudinal designs, decompose ownership into distinct components, and conduct cross-country comparative analyses to enhance generalizability. This study contributes a refined CSR measurement approach using a 0-to-3 disclosure quality scoring system, advancing beyond conventional dichotomous indices. The findings reveal that profitability selectively moderates stakeholder-oriented strategies (CSR) but not governance mechanisms (ownership), offering nuanced theoretical insights for emerging market contexts. Results provide practical guidance for managers integrating sustainability investments with financial performance strategies.
Co-Authors Ekayana Sangkasari Paranita Hani Fitria Rahmani Herawati, Vinola Sudrajat, Ayi Mohamad Yudhistira Adwimurti