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INDONESIA
Jurnal Proaksi
Published by Universitas Muhammadiyah Cirebon
ISSN : 2089127X     EISSN : 26859750     DOI : -
Core Subject : Economy, Education,
Economics, Econometrics & Finance Education
Jurnal Proaksi Jurnal Proaksi merupakan Jurnal Ekonomi yang diterbitkan oleh Program Studi Akuntansi Universitas Muhammadiyah Cirebon, menerima artikel ilmiah berupa hasil penelitian dan literatur dalam kajian Akuntansi dan Manajemen. Penerbit : Program Studi Akuntansi Fakultas Ekonomi Universitas Muhammadiyah Cirebon Frekwensi terbitan : 6 bulanan.
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Articles 347 Documents
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Profitability, Leverage, and Tax Avoidance: Evidence from Earnings Management Sekar Martania Nurhayati; Gianifa Zahra Salsabhila; Imam Hadiwibowo
Jurnal Proaksi Vol. 13 No. 3 (2026): 13 No. 3 (2026): Juli - September
Publisher : Fakultas Ekonomi dan Bisnis, Universitas Muhammadiyah Cirebon

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32534/jpk.v13i3.8581

Abstract

Main Purpose - This study aims to examine the effects of profitability, leverage, and tax avoidance on earnings management in insurance subsector companies listed on the Indonesia Stock Exchange (IDX) during the 2019-2023 period. Method - This study employs a quantitative approach using secondary data from annual financial statements. Purposive sampling yielded six companies with 30 observations. Earnings management is measured using discretionary accruals based on the Modified Jones Model, profitability using ROA, leverage using DAR, and tax avoidance using CETR. The data were analyzed using multiple linear regression with SPSS 27. Main Findings - The results show that profitability has a positive effect on earnings management, as higher profits may encourage management to maintain performance. Meanwhile, leverage and tax avoidance have no significant effect, as they do not exert sufficient pressure on management to engage in earnings management. Theory and Practical Implications - The findings indicate that agency theory can explain the relationship between profitability and earnings management but does not fully explain the effects of leverage and tax avoidance. Companies should strengthen earnings-reporting oversight, particularly when profitability increases, to ensure reliable financial information. Novelty - This study examines profitability, leverage, and tax avoidance in insurance subsector companies characterized by reporting involving estimates, technical reserves, and claim liabilities, providing empirical evidence of their relationship with earnings management.
Pengaruh Financial Experience dan Digital Financial Literacy terhadap Financial Well-Being: Peran Financial Self-Efficacy Anita Mayang Sari; Muhammad Ali Fikri
Jurnal Proaksi Vol. 13 No. 3 (2026): 13 No. 3 (2026): Juli - September
Publisher : Fakultas Ekonomi dan Bisnis, Universitas Muhammadiyah Cirebon

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32534/jpk.v13i3.8200

Abstract

Tujuan Utama – Untuk menganalisis pengaruh financial experience dan digital financial literacy terhadap financial well-being dengan financial self-efficacy sebagai variabel pemediasi dan pemoderasi. Metode – Pendekatan kuantitatif dengan pengolahan data melaui Struktural Equation Modeling-Partial Least Squares (SEM-PLS). Sampel terdiri atas 151 investor aktif PT. FAC Sekuritas yang dipilih menggunakan teknik purposive sampling. Temuan Utama – Financial experience dan digital financial literacy berpengaruh positif terhadap financial well-being. Financial experience tidak memiliki pengaruh positif terhadap financial self-efficacy. Financial self-efficacy tidak berpengaruh positif terhadap financial well-being dan financial self-efficacy tidak memediasi pengaruh financial experience terhadap financial well-being. Selain itu, financial self-efficacy tidak memoderasi pengaruh digital financial literacy terhadap financial well-being. Implikasi Teori dan Kebijakan – Temuan ini mengindikasikan perlunya peninjauan kembali posisi financial self-efficacy dalam model perilaku keuangan pada ekosistem investasi berbasis teknologi. Dari sisi kebijakan, peningkatan literasi keuangan digital dan penguatan pengalaman keuangan praktis menjadi strategi yang paling efektif untuk meningkatkan financial well-being investor. Kebaruan Penelitian – Kebaruan penelitian ini terletak pada terbatasnya studi yang menguji secara simultan pengaruh financial experience dan digital financial literacy terhadap financial well-being dan financial self-efficacy sebagai variabel pemediasi dan pemoderasi pada konteks investor.
Pengungkapan ESG dan Keputusan Investasi: Bukti dari Jakarta Islamic Index Siti Afidatul Khotijah; Siti Rokhaniyah; Voni Marcelina; Cicik Amalia Rizqiani
Jurnal Proaksi Vol. 13 No. 3 (2026): 13 No. 3 (2026): Juli - September
Publisher : Fakultas Ekonomi dan Bisnis, Universitas Muhammadiyah Cirebon

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32534/jpk.v13i3.8467

Abstract

Main Purpose - This study aims to analyze the impact of Environmental, Social, and Governance (ESG) disclosure on investment decisions, focusing on companies listed in the Jakarta Islamic Index (JII). Method - This study uses secondary data obtained from annual reports and corporate sustainability reports for 2019-2024. The population was 60 companies registered in JII and 12 companies met the sample criteria. Data analysis was conducted using the Fixed Effect Model (FEM) based on the results of the Chow and Hausman tests. Main Findings - The results show that ESG disclosure and Cash to Total Assets have a positive effect on corporate investment decisions, while Return on Assets (ROA), Debt to Equity Ratio (DER), and Sales Growth have no effect on investment decisions. Theory and Practical Implications - These findings support Stakeholder Theory and Sharia Enterprise Theory, which emphasize the importance of social responsibility, ethics, and sustainability in creating long-term value for all stakeholders. These findings indicate that sharia investors in the Indonesian capital market consider sustainability aspects and compliance with sharia principles in making investment decisions. Novelty - Implementing ESG principles not only enhances a company's reputation but also reflects the values of maslahah (benefit), amanah (trustworthiness), and berkah (investment blessing) accordance with Islamic values. This will enhance company performance.
Behavioral Biases and Crypto Investment Decision: Moderating Influence of Financial Literacy in Indonesia Hery Haryanto; Larventy Larventy; Johny Budiman
Jurnal Proaksi Vol. 13 No. 3 (2026): 13 No. 3 (2026): Juli - September
Publisher : Fakultas Ekonomi dan Bisnis, Universitas Muhammadiyah Cirebon

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32534/jpk.v13i3.8587

Abstract

Main Purpose - This research investigates how behavioral biases influence cryptocurrency investment decisions among Indonesian investors, with financial literacy as a moderating variable. Method - A quantitative approach was adopted using data from 520 active cryptocurrency investors in Indonesia collected through convenience-sampled online questionnaires. PLS-SEM was used to evaluate the proposed reflective measurement model and hypothesized structural relationships. Main Findings - Overconfidence, anchoring, mental accounting, loss aversion, and regret aversion significantly have positive effect on investment decisions, while herding behavior and representativeness yielded non-significant results. Financial literacy moderated only the relationships between overconfidence and loss aversion with investment decisions. Theory and Practical Implications - By integrating seven cognitive and emotional biases alongside financial literacy as a moderator, this study advances behavioral finance theory and underscores the strategic value of investor education in curbing bias-driven decision-making in speculative digital markets. Novelty - Departing from single-bias and traditional-market research traditions, this study constructs an integrated seven-bias framework and rigorously tests the boundary conditions imposed by financial literacy.
Carbon Emissions Across Country Income Groups Hesniati Hesniati; Edy Marsono; Candy Candy
Jurnal Proaksi Vol. 13 No. 3 (2026): 13 No. 3 (2026): Juli - September
Publisher : Fakultas Ekonomi dan Bisnis, Universitas Muhammadiyah Cirebon

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32534/jpk.v13i3.8785

Abstract

Main Purpose – The purpose of this study is to examine association between economic growth, foreign direct investment (FDI), renewable energy (RE), and financial development (FD) on carbon emissions across countries with different income classifications. Method - A total of 209 countries from 2000 to 2024 were selected as the subjects of the study and examined through Ordinary Least Squares (OLS) regression. Main Findings - The study shows that economic growth is positively associated with carbon emissions only in lower-middle income countries. FDI is negatively associated with carbon emissions in all income and high-income countries, whereas RE and FD shows a significant positive associated across all models. Theory and Practical Implications – This study demonstrate that the determinants of carbon emissions differ across income groups, highlighting the importance of considering countries development stages when designing environmental policies. Novelty - Unlike prior studies that focus on specific regions, this study provides a comprehensive comparison of the relationships between economic growth, FDI, RE, and FD on carbon emissions across three country income classifications.
Pengaruh Literasi Keuangan, Inklusi Keuangan, dan Teknologi Keuangan terhadap Kinerja UMKM Kuliner di Medan Riza Deliyani Harahap; Isnaini Harahap; Nurlaila Nurlaila
Jurnal Proaksi Vol. 13 No. 3 (2026): 13 No. 3 (2026): Juli - September
Publisher : Fakultas Ekonomi dan Bisnis, Universitas Muhammadiyah Cirebon

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32534/jpk.v13i3.8834

Abstract

Main Purpose - This study aims to examine the effects of financial literacy, financial inclusion, and financial technology on the performance of culinary micro, small, and medium enterprises (MSMEs) in Medan City. Method - This study employed a quantitative associative approach using primary data collected through questionnaires from 100 owners or managers of culinary MSMEs selected through purposive sampling. The data were analyzed using multiple linear regression with SPSS, supported by validity, reliability, classical assumption, and coefficient of determination analyses. Main Findings - Financial literacy does not have a significant effect on culinary MSME performance, indicating that financial knowledge alone may not improve business outcomes when it is not consistently translated into effective financial management practices. In contrast, financial inclusion and financial technology have positive and significant effects on MSME performance. Access to formal financial services supports working-capital management and financial flexibility, while digital financial technology facilitates transaction efficiency and business operations. Theory and Practical Implications - The findings are consistent with the Resource-Based View by showing that financial access and technological capabilities can function as strategic resources for MSME performance, while the Technology Acceptance Model provides a supporting perspective for interpreting the utilization of financial technology. Practically, culinary MSME development should combine applied financial-management assistance, broader access to formal financial services, and effective adoption of digital financial technology. Novelty - This study provides contextual empirical evidence that distinguishes financial knowledge from actual financial access and technological capabilities used by culinary MSMEs. Unlike previous studies that generally report a positive relationship between financial literacy and MSME performance, this study finds no significant direct relationship between financial literacy and performance, whereas financial inclusion and financial technology demonstrate stronger empirical relationships with the performance of culinary MSMEs in Medan City.
Analisis Penerapan Sistem Pengendalian Internal Berdasarkan Kerangka COSO Pada Koperasi Karyawan GMF Lira Agustina Rakhman; M. Kurnia Rahman Abadi
Jurnal Proaksi Vol. 13 No. 3 (2026): 13 No. 3 (2026): Juli - September
Publisher : Fakultas Ekonomi dan Bisnis, Universitas Muhammadiyah Cirebon

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32534/jpk.v13i3.8867

Abstract

Main Purpose - This study aims to analyze the implementation of the internal control system based on the COSO framework in the management of financing at the GMF Employee Cooperative. Method - This study employed a qualitative research design with a descriptive approach. Data were collected through interviews, observations, and documentation, while data analysis employed the Miles and Huberman model, including data reduction, data display, and conclusion drawing. Main Findings - The findings indicate that the implementation of the internal control system in financing management has incorporated the five components of COSO. However, inconsistencies were still identified in the implementation of procedures through the disposition mechanism for members who had not fulfilled the administrative requirements, as well as suboptimal communication regarding members' plans to resignation or retirement. Theory and Practical Implications – The effectiveness of internal control depens not only on the presence of the five COSO components but also on the consistency of their implementation and the effectiveness of communication. The cooperative needs to strengthen its financing procedures and risk mitigation, particularly regarding procedures for member resignation. Novelty - The novelty of this study lies in its analysis of the implementation of an internal control system based on the COSO framework in financing management at the GMF Employee Cooperative, which applies a payroll deduction system as its installment repayment mechanism.

Page 35 of 35 | Total Record : 347

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