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Witosari, Diana
Universitas Sebelas Maret
Economics, Econometrics & Finance

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MANAGEMENT ENTRENCHMENT AND INTELLECTUAL CAPITAL: THEIR ROLE IN DRIVING FINANCIAL STATEMENT FRAUD IN INDONESIAN SOEs Witosari, Diana; Bandi, Bandi
Jurnal Akuntansi dan Bisnis Vol 25, No 2 (2025): In Progress
Publisher : Accounting Study Program, Faculty Economics and Business, Universitas Sebelas Maret

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20961/jab.v25i2.1628

Abstract

This research examines how management entrenchment, measured through CEO tenure and managerial ownership, and intellectual capital, measured through human capital, structural capital, and capital employed, affect the occurrence of financial statement fraud among Indonesian State-Owned Enterprises (SOEs) listed on the Indonesia Stock Exchange (IDX) between 2018 and 2023. Employing the Beneish M-score as a fraud detection tool and utilizing logistic regression analysis on 120 panel data observations, the study finds that management entrenchment, whether measured by CEO tenure or managerial ownership, does not have a statistically significant effect on financial statement fraud. In contrast, all three dimensions of intellectual capital exhibit significant effects. Human capital has a positive and significant influence on financial statement fraud, whereas structural capital and capital employed have negative and significant influences. These results suggest that although management entrenchment may not be a primary determinant of fraud in Indonesian SOEs, the effective management of intellectual capital plays a strategic role in mitigating such risks. The implications of this study provide valuable insights for regulators and policymakers to strengthen corporate governance frameworks and promote the ethical and responsible utilization of intellectual capital to minimize the risk of financial misreporting.
Co-Authors Bandi, Bandi