Harmoni Economics: International Journal of Economics and Accounting
Vol. 3 No. 2 (2026): May: Harmoni Economics: International Journal of Economics and Accounting

Fraud Hexagon Model in Detecting Fraudulent Financial Reporting in the State-Owned Enterprise Environment

Tirza Venisia Sinambela (Universitas Jambi)
Sri Rahayu (Universitas Jambi)
Riski Hernando (Universitas Jambi)



Article Info

Publish Date
31 May 2026

Abstract

This study aims to examine the effect of Fraud Hexagon Theory elements, namely stimulus/pressure, capability, collusion, opportunity, rationalization, and ego on fraudulent financial reporting in State-Owned Enterprises (SOEs) listed on the Indonesia Stock Exchange during the 2019–2024 period. This research employs a quantitative method with an associative approach and multiple linear regression analysis. The sample was determined using purposive sampling, resulting in 27 companies with a total of 162 observations. The results indicate that all independent variables simultaneously influence fraudulent financial reporting. Partially, stimulus/pressure and opportunity have a significant negative effect, while rationalization and ego have a significant positive effect on fraudulent financial reporting. Meanwhile, capability and collusion do not show a significant effect. These findings suggest that pressure and opportunity factors, along with rationalization and ego, play important roles in influencing the occurrence of fraudulent financial reporting.

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Journal Info

Abbrev

HarmoniEconomics

Publisher

Subject

Description

(Harmoni Economics: International Journal of Economics and Accounting) [e-ISSN : 3063-8712, p-ISSN : 3063-6205] is an open access Journal published by the IFREL (International Forum of Researchers and Lecturers). Harmoni Economics accepts manuscripts based on empirical research results, new ...