AFRE Accounting Financial Review
Accounting and Financial Review (AFRe), is a publication of Graduate School Program, University of Merdeka Malang. The journal is an article published continuously which is intended not only as a place to share ideas, study, and analysis but also as an information channel to improve and develop accounting and finance science. This publication consists of scientific writings in the form of research finding, analysis, and application theory, conceptual idea, new book review, bibliography, practical writing from experts, academics, and practitioners. The published writings have been in the process of editing needed by the publisher without changing the substance as the original script. The writing in each publication is the personal responsibility of the author and it does not reflect the publisher’s idea.
Articles
144 Documents
<![CDATA[Fraudulent Financial Statement: Implementation of XBRL and Perspective Fraud Hexagon In 5.0 Era ]]>
<![CDATA[Lestari, Tri Utami]]>;
<![CDATA[Dinata, Ruri Octari]]>
<![CDATA[ AFRE (Accounting and Financial Review) Vol. 7 No. 2 (2024): Vol. 7 No. 2 Juni 2024 ]]>
Publisher : <![CDATA[Postgraduate Program Merdeka University ]]>
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DOI: 10.26905/afr.v7i2.11912
<![CDATA[This study aims to examine implementation of XBRL and fraud hexagon on the fraudulent financial statement. The purpose of this paper is to determine the influence of implementation of XBRL, stimulus, ego, capability, rationalization, collusion, and opportunity on the fraudulent financial statement. This study employs a quantitative approach to explain the relationship among the variables. The samples in this study is limited to non-financial state-owned companies in Indonesia. The data from non-financial stated-owned enterprises In Indonesia were collected and the analysed through the panel data. Results show that the implementation of XBRL and the fraud hexagon perspective have a simultaneous effect on fraudulent financial statements. This study expands on previous works by investigating the Influence of XBRL Adoption on Financial Reporting Timeliness: Evidence from Indonesian Banking Industry. Such empirical evidence is expected to be used by companies, regulators and researchers in understanding factors that influence financial reporting fraud in non-financial state-owned companies. The samples in this study is limited to non-financial state-owned companies in Indonesia.DOI: https://doi.org/10.26905/afr.v7i2.11912]]>
<![CDATA[Financial Literacy and House Hold Portofolio Diversification: The Moderation Role of Risk Preferences ]]>
<![CDATA[Malinda, Shelfi]]>;
<![CDATA[Mu'izzuddin, Mu'izzuddin]]>;
<![CDATA[Malinda, Febri Marani]]>;
<![CDATA[Effendi, Kharisya Ayu]]>
<![CDATA[ AFRE (Accounting and Financial Review) Vol. 7 No. 2 (2024): Vol. 7 No. 2 Juni 2024 ]]>
Publisher : <![CDATA[Postgraduate Program Merdeka University ]]>
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DOI: 10.26905/afr.v7i2.12437
<![CDATA[The study examines the relationship between financial literacy and household portfolio diversification in Palembang, Indonesia. The sample was proportio-nally surveyed using proportional random sampling, so 405 households in Palembang, Indonesia divided into 18 districts. Inferential testing uses Struc-tural Equation Modeling (SEM) based on variants, namely Partial Least Squ-are (SEM-PLS). Results show that financial literacy positively influences port-folio diversification, while risk preference moderates this effect. The interaction between financial literacy and risk preference has a smaller effect size. The stu-dy contributes to the concept of optimal portfolios in Modern Portfolio Theory, as financial literacy encourages logical decisions and risk preferences optimize diversification decisions. The study also found that risk preference reduces the effect of financial literacy on portfolio diversification, as households understand that additional asset distribution may increase costs and reduce returns. Re-search suggests incorporating risk preference as a predictor and mediator to better understand the impact of financial literacy on portfolio diversification.DOI: https://doi.org/10.26905/afr.v7i2.12437]]>
<![CDATA[Participation in Budgeting, Public Accountability, and Performance: Does Internal Oversight Matter? ]]>
<![CDATA[Syahadat, Edy Fitriawan]]>;
<![CDATA[Amirullah, Sufyan]]>;
<![CDATA[Ansari, Muhammad Ihsan]]>
<![CDATA[ AFRE (Accounting and Financial Review) Vol. 7 No. 2 (2024): Vol. 7 No. 2 Juni 2024 ]]>
Publisher : <![CDATA[Postgraduate Program Merdeka University ]]>
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DOI: 10.26905/afr.v7i2.12460
<![CDATA[This research seeks to examine the effect of participation in budgeting, public accountability on the managerial performance by taking into consideration the moderating effect of internal oversight. We employed 84 respondents of go-vernmental officer in Majene of West Sulawesi. Research variables composed of participation in budgeting, public accountability, and managerial perfor-mance. The hypothesis testing used moderated regression analysis with inter-nal supervision serving as a moderating variable. The results of this research found that participation in budgeting and public accountability are positively associated with managerial performance. These indicate that the level of increase of managerial performance in local government has been determined by participation in budgeting and public accountability. Meanwhile, internal oversight has been found to moderate the effect of participation in budgeting and accountability on managerial performance. It reveals that internal over-sight in governmental sector can strengthen the participation budgeting and public accountability in leading into the increase of managerial performance.DOI: https://doi.org/10.26905/afr.v7i2.12460]]>
<![CDATA[The Attributes of The Corporate Governance to The Quality of Corporate Social Responsibility Disclosure ]]>
<![CDATA[Pratama, Ikbar]]>;
<![CDATA[Pratama, Khalik]]>;
<![CDATA[Atrizka, Diny]]>;
<![CDATA[Dalimunthe, Mohd Idris]]>
<![CDATA[ AFRE (Accounting and Financial Review) Vol. 7 No. 2 (2024): Vol. 7 No. 2 Juni 2024 ]]>
Publisher : <![CDATA[Postgraduate Program Merdeka University ]]>
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DOI: 10.26905/afr.v7i2.12668
<![CDATA[This study aims to explore the relationship between corporate governance attributes (such as political connections, proportion of women, multiethnicity, family ownership, and board composition) with CSRD quality. The independent variables for this study are gathered from the 2023 annual reports of each listed company on the IDX. Meanwhile, the dependent variable, CSRD quality, is summarized from the environmental and social disclosures present in these annual reports. The disclosed information is then converted into a percentage to represent the score of CSR disclosure quality. The research sample was 460 companies listed on the Indonesia Stock Exchange (IDX) in 2023. The association between corporate governance attributes and CSRD quality examined using multiple regression. The outcomes of the multiple regression analysis reveal that the political connection of the board of commissioners (PCOBC) and the composition of the board of directors (TCOBD) significantly impact CSRD quality among the 460 Indonesian publicly listed companies in the year 2023.DOI: https://doi.org/10.26905/afr.v7i2.12668]]>
<![CDATA[Financial Attitude as a Mediating Variable for Financial Inclusion and Financial Literacy on The Financial Performance of MSMEs ]]>
<![CDATA[Yahya, Adibah]]>;
<![CDATA[Saputera, Denny]]>;
<![CDATA[Hidayat, Taufik]]>;
<![CDATA[Nurjanah, Rina]]>
<![CDATA[ AFRE (Accounting and Financial Review) Vol. 7 No. 2 (2024) ]]>
Publisher : <![CDATA[Postgraduate Program Merdeka University ]]>
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DOI: 10.26905/afr.v7i2.12685
<![CDATA[This study aims to examine financial inclusion, financial literacy and financial attitudes towards the financial performance of MSMEs. Problems faced by MSMEs regarding financial management. Factors that affect the financial performance of MSMEs include financial inclusion knowledge, financial literacy, and financial attitudes. The population of this research is MSMEs in Bekasi Regency. The research sample used a non-probability sampling method, namely quota sampling. Data processing techniques using PLS. The results showed that directly, financial inclusion and financial literacy had a significant positive effect on financial performance. However, financial attitudes have no effect on financial performance, besides that financial attitudes cannot mediate the effect of financial inclusion and financial literacy on financial performance. Financial literacy on financial performance.DOI: https://doi.org/10.26905/afr.v7i2.12685]]>
<![CDATA[Does The Fraud Pentagon Theory Effectively Detect Financial Statement Fraud? ]]>
<![CDATA[Sari, Putri]]>
<![CDATA[ AFRE (Accounting and Financial Review) Vol. 7 No. 2 (2024): Vol. 7 No. 2 Juni 2024 ]]>
Publisher : <![CDATA[Postgraduate Program Merdeka University ]]>
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DOI: 10.26905/afr.v7i2.12710
<![CDATA[This study aims to assess and evaluate the effectiveness of the Fraud Pentagon Theory in identifying fraudulent financial statements. The independent va-riables used in this study are Leverage, Inadequate monitoring, auditor turn-over, change of directors, and frequent number of CEOT Related to this, this study focuses on financial sector companies listed on the Indonesia Stock Exchange in 2018 to 2022, because financial sector companies are more vul-nerable to fraud. The sample approach used is purposive sampling. Based on the specified criteria, the sample consists of 55 results obtained from 11 com-panies in the financial industry. The data analysis methodology used a logistic regression model to assess its feasibility. The research findings indicate that leverage substantially impacts the prevalence of financial statement fraud. However, factors such as inadequate monitoring, auditor turnover, board turnover, and the number of CEO photo frequencies did not show a signi-ficant influence on financial statement fraud.DOI: https://doi.org/10.26905/afr.v7i2.12710Â Â ]]>
<![CDATA[Bonus Mechanisms, Profitability, and Intangible Assets on Transfer Pricing Decisions in ASEAN 5 ]]>
<![CDATA[Jaunanda, Meiliana]]>;
<![CDATA[Allan, Hellen]]>
<![CDATA[ AFRE (Accounting and Financial Review) Vol. 7 No. 2 (2024): Vol. 7 No. 2 Juni 2024 ]]>
Publisher : <![CDATA[Postgraduate Program Merdeka University ]]>
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DOI: 10.26905/afr.v7i2.12772
<![CDATA[This study aims to examine the effect of bonus schemes or commonly known as bonus mechanism, the concept of company’s profitability described by Return on Asset (ROA) and company’s intangible assets on transfer pricing decisions conducted by using multiple regression analysis. The sample of this study is consistently consist 56 companies with the observation period from 2019 to 2022 collected from consumer sector companies in the ASEAN-5 region. The results of the study is bonus mechanism and intangible assets positively have a significant influence with transfer pricing intensity. The bonus mechanism is able to motivate decision making related to transfer pricing and the difficulty of measuring the right measurement for intangible assets’ value become a loophole in making the decision of transfer pricing, but there is no influence on profitability described by the Return on Asset (ROA) ratio high profits cause company to pay large tax obligations to also have to be paid as part of the consequences of political costs.DOI: https://doi.org/10.26905/afr.v7i2.12772]]>
<![CDATA[Corporate Social Responsibility Disclosure and Company Performance: The Moderating Role of CEO Characteristics and Institutional Ownership ]]>
<![CDATA[Qushoyyi, Muhammad Ahnaf Ammar]]>;
<![CDATA[Trinugroho, Irwan]]>
<![CDATA[ AFRE (Accounting and Financial Review) Vol. 7 No. 2 (2024): Vol. 7 No. 2 Juni 2024 ]]>
Publisher : <![CDATA[Postgraduate Program Merdeka University ]]>
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DOI: 10.26905/afr.v7i2.12800
<![CDATA[This study aims to examine the effect of corporate social responsibility disclosure (CSRD) on company performance with CEO characteristics and institutional ownership as moderating variables. This research is quantitative research using a sample of LQ45 index companies listed on the Indonesia Stock Exchange. This research data collection method uses secondary data sourced from company Annual Reports obtained from the Indonesia Stock Exchange (BEI). This model answers the objectives of this research based on a selected sample of 112 observations from 28 companies between 2019-2022. The research results show that corporate social responsibility disclosure (CSRD) influences company performance, while profitability influences company value. This research also shows that corporate social responsibility disclosure (CSRD) on company performance cannot be moderated by CEO tenure, while corporate social responsibility disclosure (CSRD) on company performance can be moderated by institutional ownership.DOI: https://doi.org/10.26905/afr.v7i2.12800Â ]]>
<![CDATA[Whistleblowing Financial Fraud: Integration Model of Hexagon Fraud and Theory of Planned Behavior ]]>
<![CDATA[Yunia, Dabella]]>;
<![CDATA[Mutmainah, Siti]]>
<![CDATA[ AFRE (Accounting and Financial Review) Vol. 7 No. 2 (2024): Vol. 7 No. 2 Juni 2024 ]]>
Publisher : <![CDATA[Postgraduate Program Merdeka University ]]>
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DOI: 10.26905/afr.v7i2.12878
<![CDATA[This research aimed to test the determinants of whistleblowing intention using an integrated method to hexagon fraud elements and the theory of planned behavior (TPB). The elements of hexagon fraud in the form of ego, capability, and opportunity were perceived behavior control, while hexagon fraud in the form of incentives and collusion were subjective norm. An attitude toward whistleblowing was part of rationalization since certain actions are justified by an individual. Data collection was conducted through a survey of 219 respondents and processed using the Partial Least Square (PLS) version 3 statistical tool and quantitative method. The result showed that ego, capability, and opportunity integrated into perceived behavior control positively affected whistleblowing intention. In addition, incentives and collusion integrated into subjective norm as well as attitude toward behavior positively affected the variable. Hexagon fraud integration model and TPB were suitable for use in whistleblowing intention. From a practical perspective, this research contributed to organizations implementing whistleblowing by considering perceived behavior control, subjective norm, and attitude.DOI: https://doi.org/10.26905/afr.v7i2.12878Â ]]>
<![CDATA[Nexus Between Corporate Governance, Debt Structure, Earnings Management in Family Firms: Perspective an Agency Theory ]]>
<![CDATA[Mappadang, Agoestina]]>;
<![CDATA[Fitriawati, Roza]]>;
<![CDATA[Sinaga, Melan]]>
<![CDATA[ AFRE (Accounting and Financial Review) Vol. 7 No. 2 (2024): Vol. 7 No. 2 Juni 2024 ]]>
Publisher : <![CDATA[Postgraduate Program Merdeka University ]]>
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DOI: 10.26905/afr.v7i2.12952
<![CDATA[This study aims to analyze the impact of family ownership on earnings ma-nagement, explain the impact of family ownership on internal governance me-chanisms, examine the impact of internal governance mechanisms on earnings management, examine the impact of debt structure on earnings management. This study confirms the Agency Theory in the family ownership chart setting, tested through the use of 6 hypotheses. The research sample uses a purposive sampling method in the Consumer Non-Cyclicals sector, which has been listed on the Indonesia Stock Exchange from 2019 to 2022. Data analysis will be carried out with path analysis. The results of this research have implications for the characteristics of ownership of public companies in Indonesia which are unique. Apart from being concentrated, the majority of shares are owned by the family. Agency problems in this condition shift no longer between the family and the manager because generally the manager is a party who has a kinship relationship, but between families with non-family owners and third parties. The agency problem found in this research is between the family and debt-holders and potential stockholders. Agency problems between families and managers and minority owners are not proven in this research because ma-nagers are generally also parties who have kinship relationships so managers have aligned interests with the family. The small minority shareholding causes the family to ignore this agency conflict.DOI: https://doi.org/10.26905/afr.v7i2.12952 ]]>
