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All Journal Wiga : Jurnal Penelitian Ilmu Ekonomi Al-Kharaj: Jurnal Ekonomi, Keuangan & Bisnis Syariah Jurnal Akuntansi Kontemporer
Rafael Savio Easter
Universitas Ciputra
Agriculture, Biological Sciences & Forestry Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Industrial & Manufacturing Engineering Social Sciences

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Fair Value and Historical Cost Dilemma: Modern Accounting Dynamics in Financial Statement Quality Kenley Maccauley Riyono; Rafael Savio Easter; Kelvin Danendra; Wirawan Endro Dwi Radianto
Al-Kharaj: Jurnal Ekonomi, Keuangan & Bisnis Syariah Vol. 7 No. 8 (2025): Al-Kharaj: Jurnal Ekonomi, Keuangan & Bisnis Syariah
Publisher : Intitut Agama Islam Nasional Laa Roiba Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47467/alkharaj.v7i8.7833

Abstract

The use of fair value and historical cost is still debated in modern accounting regarding its application and effect on the quality of financial statements. Moreover, there is a conflict of interest between managers and stakeholders related to the need for asset valuation based on these methods. Therefore, a solution is needed to balance between relevance and reliability to meet the needs. This study aims to determine the effect of applying fair value and historical cost on financial statement information during economic volatility. The sample used is representative of companies in the financial, property, and energy sectors that were affected by the application of valuation methods during the financial crisis in 2008 and the COVID-19 pandemic in 2020. The research was conducted using the content analysis method and literature review to find out more about the financial statements. The results show that fair value exacerbates the company's financial decline during the volatility of the financial crisis, but describes the current condition of the company so which is relevant, but not reliable due to the subjectivity of valuation. Whereas historical cost does not result in changes so it is not relevant, but more reliable due to objectivity and verifiability. With this, the research contributes to provide input in the application of both methods with a hybrid approach in financial statements.
TAX AVOIDANCE: REPUTATIONAL MASK AND BOARD INFLUENCE Rafael Savio Easter; Eko Santoso
Jurnal Akuntansi Kontemporer Vol. 18 No. 2 (2026): Jurnal Akuntansi Kontemporer
Publisher : Widya Mandala Surabaya Catholic University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33508/jako.v18i2.8186

Abstract

Research Purpose. This study examines the relationships among sustainability reporting disclosure, board financial expertise, and tax avoidance practices in the Indonesian food and beverage sector listed on IDX. Research Methods. The study uses a panel regression analysis using secondary data on listed food & beverage companies in IDX, including annual reports and sustainability reports, and director backgrounds from 2021 to 2023. Research Results and Findings. The findings reveal that sustainability reporting disclosure has a significant negative effect on tax avoidance. This suggests that firms with higher levels of sustainability reporting are less likely to engage in tax avoidance activities. In contrast, the financial expertise of board directors does not significantly affect tax avoidance. This study contributes to the literature by providing empirical evidence on the role of sustainability reporting and board characteristics in influencing corporate tax planning strategies. The results indicate that firms that prioritize sustainability and transparency are less inclined to pursue aggressive tax avoidance practices, whereas directors' financial knowledge alone does not necessarily deter such behavior. These findings have important implications for policymakers, regulators, and corporate stakeholders in understanding the drivers of tax avoidance and promoting responsible corporate practice.
Triggering Turbulence: How Trump’s Tariff Talk Shook the Markets Kenley Maccauley Riyono; Nicklaus Stanley; Rafael Savio Easter; Vincent Adijaya; Ruben Putranto Purnomo; Luky Patricia Widianingsih
Wiga : Jurnal Penelitian Ilmu Ekonomi Vol. 16 No. 1 (2026): March 2026
Publisher : Institut Teknologi dan Bisnis Widya Gama Lumajang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30741/wiga.v16i1.1658

Abstract

On April 2, 2025, President Donald J. Trump imposed a 32% import tariff on Indonesia, triggering significant stock market volatility and global panic. This study aims to provide empirical evidence on whether there are significant differences in aggregate and cumulative abnormal returns before and after Trump’s reciprocal tariff policy announcement. The research adopts an event study approach, using a sample comprising all companies across 11 sectors listed on the Indonesia Stock Exchange. The findings indicate that the Indonesian capital market responded negatively and significantly to Trump’s tariff announcement. This is reflected in a significant decline in the Aggregate Abnormal Return (AAR) on the first day following the announcement. The decline is also evident in the Cumulative Aggregate Abnormal Return (CAAR), which illustrates the aggregate market losses accumulated during the event window. However, the drop in AAR and CAAR lasted only for two days post-announcement, after which signs of recovery emerged from the third to the fifth day. Further analysis of sectoral Abnormal Returns (AR) shows that most sectors closely linked to international trade activities experienced a significantly negative decline in AR.
Co-Authors Eko Budi Santoso Kelvin Danendra Kenley Maccauley Riyono Luky Patricia Widianingsih Nicklaus Stanley Ruben Putranto Purnomo Vincent Adijaya Wirawan ED Radianto