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Iman Harymawan
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AJAR (Asian Journal of Accounting Research) (e-Journal)
Published by Universitas Airlangga
ISSN : 24599700     EISSN : 24434175     DOI : https://doi.org/10.1108/AJAR-11-2020-0107
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The Asian Journal of Accounting Research (AJAR) provides a forum for international researchers to publish original articles of high-quality research findings which contribute to academic literature and practice. AJAR welcomes a wide range of methodologies in all aspects of accounting and finance in developing countries, with a majority in Asia. The scope of AJAR includes, yet not limited to: - Accounting information system - Asset pricing - Auditing and financial accounting - Behavioral accounting and finance - Corporate finance and governance - Digital accounting and finance - Financial markets and institutions - International accounting and finance - Islamic accounting and finance - Management accounting - Market microstructure - Public sector accounting - Taxation The journal is administered by the Department of Accountancy, Faculty of Economics and Business, Universitas Airlangga, Indonesia. This journal is associated with the Airlangga Accounting International Conference (AAIC).
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Articles 9 Documents
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Search results for , issue "Volume 4 Issue 2" : 9 Documents clear
Financial statement analysis Reginald Masimba Mbona; Kong Yusheng
Asian Journal of Accounting Research Volume 4 Issue 2
Publisher : Emerald Publishing Limited

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.1108/AJAR-05-2019-0037

Abstract

The Chinese Telecoms Industry has been rapidly growing over the years since 2001. An analysis of financial performance of the three giants in this industry is very important. However, it is difficult to know how many ratios can be used best with little information loss. The paper aims to discuss this issue.A total of 18 financial ratios were calculated based on the financial statements for three companies, namely, China Mobile, China Unicom and China Telecom for a period of 17 years. A principal component analysis was run to come up with variables with significance value above 0.5 from each component.At the end, the authors conclude how financial performance can be analysed using 12 ratios instead of the costly analysis of too many ratios that may be complex to interpret. The results also showed that ratios are all related as they come from the same statements, hence, the authors can use a few to represent the rest with limited loss of information.This study will help different stakeholders who are interested in the financial performance of each company by giving them a shorter way to analyse performance. It will also assist those who do financial reporting on picking the ratios which matter in reflecting the performance of their companies. The use of PCA gives unbiased ratios that are most significant in assessing performance.
The influence of audit committee’s and company’s characteristic on intellectual capital disclosure Zahroh Naimah; Nico Acintyo Mukti
Asian Journal of Accounting Research Volume 4 Issue 2
Publisher : Emerald Publishing Limited

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.1108/AJAR-05-2019-0036

Abstract

The purpose of this paper is to test the influences of audit committee’s and company’s characteristic on intellectual capital disclosure (ICD) among the LQ45-listed companies in Indonesia Stock Exchange (BEI) between 2013 and 2014.The paper employed multiple linear regression and saturation sample as the analysis methods.The findings showed that size of audit committee does not significantly influence ICD; meeting frequency of audit committee positively influences ICD; and company size does not influence ICD positively. On the other hand, profitability does not significantly influence ICD; leverage has negative and significant influence on ICD; and the type of industry does not significantly influence intellectual capital disclosure.As there are few ICD studies, this research will surely add ICD antecedents to literature.
Detecting anomalies in financial statements using machine learning algorithm Mark Lokanan; Vincent Tran; Nam Hoai Vuong
Asian Journal of Accounting Research Volume 4 Issue 2
Publisher : Emerald Publishing Limited

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.1108/AJAR-09-2018-0032

Abstract

The purpose of this paper is to evaluate the possibility of rating the credit worthiness of a firm’s quarterly financial report using a dynamic anomaly detection method.The study uses a data set containing financial statements from Quarter 1 – 2001 to Quarter 4 – 2016 of 937 Vietnamese listed firms. In sum, 24 fundamental financial indices are chosen as control variables. The study employs the Mahalanobis distance to measure the proximity of each data point from the centroid of the distribution to point out the extent of the anomaly.The finding shows that the model is capable of ranking quarterly financial reports in terms of credit worthiness. The execution of the model on all observations also revealed that most financial statements of Vietnamese listed firms are trustworthy, while almost a quarter of them are highly anomalous and questionable.The study faces several limitations, including the availability of genuine accounting data from stock exchanges, the strong assumptions of a simple statistical distribution, the restricted timeframe of financial data and the sensitivity of the thresholds for anomaly levels.The study opens an avenue for ordinary users of financial information to process the data and question the validity of the numbers presented by listed firms. Furthermore, if fraud information is available, similar research can be conducted to examine the tendency for companies with anomalous financial reports to commit fraud.This is the first paper of its kind that attempts to build an anomaly detection model for Vietnamese listed companies.
Profitability vs Poverty alleviation: has banking logic influences Islamic microfinance institutions? Luqyan Tamanni; Mohd Hairul Azrin Haji Besar
Asian Journal of Accounting Research Volume 4 Issue 2
Publisher : Emerald Publishing Limited

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.1108/AJAR-05-2019-0039

Abstract

The purpose of this paper is to shed some lights on the process of mission drifting or abandoning poverty objective by Islamic microfinance institutions (IMFs). The paper investigates whether the extensive use of banking logic changes IMFs, from focusing on both development and financial objectives to only considering sustainability as their primary mission.This paper adopts mixed methods by analyzing 7,200 microfinance data from Microfinance Exchange Market and reviewing annual reports and websites of 25 IMFs to examine their vision and mission statements and other related information.The finding shows Islamic microfinance has not changed, despite increasing adoption of financial or banking performance measures. However, size and age of the institutions may affect the outcome in the future. The authors find that smaller microfinance institutions maintain genuine objective to serve the poor, as the grow larger they would be more inclined toward sustainability objectives.The research is limited on the sample size as data on Islamic microfinance globally is limited. However, the paper looked at the global data rather than local data to compensate for this limitation. Future study would be further taking the study through qualitative methods to support the study.This paper aims to shed some lights on the process of mission drifting or abandoning poverty objective by IMFIs. The paper investigates how has the extensive use of financing logic has changed IMFIs from focusing on both development and financial objectives to only considering sustainability as their primary mission. Arun and Hulme (2009) argued that the interaction of multiple logic within microfinance institutions, i.e. financial vs social, could pose some serious management dilemmas within microfinance institutions. Further, commercialization puts pressure on the field staffs to achieve financial targets and often neglect their poverty outreach mission to the poor. The well-known crisis in Andhra Pradesh, India where clients of microfinance institutions committed suicide after being shamed by field officers who tried to collect payments of loans (Mader, 2013; Taylor, 2011), provides a powerful case of the impact of financialization to microfinance clients.
Bank diversification strategy and intellectual capital in Ghana: an empirical analysis King Carl Tornam Duho; Joseph Mensah Onumah
Asian Journal of Accounting Research Volume 4 Issue 2
Publisher : Emerald Publishing Limited

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.1108/AJAR-04-2019-0026

Abstract

The purpose of this paper is to examine the impact of intellectual capital and its components on bank diversification choice.Both asset and income diversification are computed and an unbalanced panel data set of 32 banks covering the period 2000–2015 have been used. The panel corrected standard error regression has been used to account for serial correlation and heteroscedasticity.The study found that intellectual capital determines the choice of diversifying. Precisely, intellectual capital motivates asset diversity but it dissuades income diversification. Human capital and structural capital are major components that determine asset diversity decisions. Income diversification decision, in this case to choose a focus strategy, is determined by human capital. This gives credence for the human capital theory in Ghana. Competition encourages a focus strategy. Bank size and leverage enhances income diversification while stock exchange listing and government ownership fosters the focus strategy.Diversification strategy, knowledge base of staff, corporate governance and internal control have been considered as factors leading to the collapse of some Ghanaian banks in 2017–2018. The study provides relevant insights for regulators, decision support units and corporate boards. Intellectual capital and value added metrics should be used for modelling and decision making as they have value relevance.This is a premier study that has examined the nexus between diversification strategy and intellectual capital in banks.
Management accountant’s role and society’s expectations: Sri Lankan study Shanmugavel Rajeevan
Asian Journal of Accounting Research Volume 4 Issue 2
Publisher : Emerald Publishing Limited

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.1108/AJAR-05-2019-0032

Abstract

The purpose of this paper is to gain insights into the gap between management accounting professional’s role and the societal expectations of the management accounting professionals in Sri Lanka.A quantitative research approach was adopted to identify the statistical gap of the management accountant’s role and society’s expectations. Four business sectors were selected from Colombo Stock Exchange as of 31 December 2018. Sample consisted of 160 entities; 480 questionnaires were distributed among three stakeholders (financial accountant/manager, management accountant and human resource manager). Out of the 228 responses received, only 171 responses were usable. Exhibiting an overall response rate of 35.6 per cent.The role expectation of management accountants varies significantly across the selected business sectors in Sri Lanka. There is an increasing demand for contemporary management accounting skills in Sri Lanka.The insights of this study would be of use to policy makers and policy implementers to examine and develop remedial measures to enhance the creditability and transparency of the management accounting profession in Sri Lanka. Academic and professional educational providers can identify future trends and necessary skills of management accounting to improve management accounting curriculum.The evidence from this study contributes to the literature of societal importance of management accounting from a Sri Lankan perspective.
The impact of corporate governance on the cost of equity Syed Tauseef Ali; Zhen Yang; Zahid Sarwar; Farman Ali
Asian Journal of Accounting Research Volume 4 Issue 2
Publisher : Emerald Publishing Limited

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.1108/AJAR-08-2019-0062

Abstract

In view of organizational inertia, with the occurrence of a major event, though resource rigidity minimizes, however simultaneously, it increases process rigidity, which creates difficulties in motivating managers and dealing with the agency problem. Therefore, keeping in mind the high demand created by the China–Pakistan Economic Corridor and Naya Pakistan Housing Scheme in the cement sector of Pakistan, the purpose of this paper is to investigate the impact of corporate governance (CG) on the cost of equity (COE) in the cement sector, to deal with the problems surging during and after the completion of these projects and highlight further opportunities for the cement sector of Pakistan.CG is a qualitative concept therefore, eight proxies have been used to measure it along with the two control variables. This study uses balance panel data of six years from 2012 to 2017, collected from 18 companies of the cement sector of Pakistan. Descriptive statistics have been used to describe the data, correlation matrix to see the nature of the relationship, and Pooled OLS as the estimation technique, while to analyze the data a statistical package 13 has been used. To measure the COE, the Capital Asset Pricing Model (CAPM) has been used.Regression results suggest that block ownership, insider ownership and the board size are insignificant, while CEO tenure is negatively and significantly associated with the COE. Non-executive directors, independence and CEO duality are insignificant; however, diversity is positively and significantly associated with the COE. Moreover, the mean value of the COE is 8.22 percent for the cement sector, while the coefficient of determination of the model under study is 74 percent.This paper is based on the data from the cement sector of Pakistan only. Therefore, this is the reason that these results cannot be generalized on the whole economy of Pakistan.This study helps in finding out the COE value specific to the cement sector, which will help this sector to evaluate the capital budgeting decision more precisely and accurately than before. Moreover, the association of diversity as positive, while independence as negative with the COE highlights a room for improvement in the implementation of CG codes by SECP. This study also helps to mitigate the impact of inertia, the after-effects of high demand, and managing the agency problem in the cement sector.This is the first study using CG data collected just after the revised promulgation of CG codes in 2012, along with a wide range of eight proxies measuring CG and its impact on the COE in the cement sector.
Marketability, profitability, and profit-loss sharing: evidence from sharia banking in Indonesia Ahmad Abbas; Ainun Arizah
Asian Journal of Accounting Research Volume 4 Issue 2
Publisher : Emerald Publishing Limited

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.1108/AJAR-08-2019-0065

Abstract

The purpose of this paper is to analyze marketability constructed from market share and concentration and to test its effect on the profitability and the mediation effects of profit‒loss sharing under stewardship theory.This research employs data of financial statements published by ten sharia commercial banks listed in the Indonesia Financial Services Authority during the period 2011–2016. The data are analyzed into path analysis model using multiple mediators.The result reveals that sharia banks’ marketability in Indonesia tends to be low. Based on the test of significance through Partial Least Square, it is found that marketability has a positive effect on the level of profitability, indicating that market share and concentration of sharia banks positively lead the change on the level of Return on Asset and Return on Equity. This paper further identifies the mediation effects emerged through mudharabah and musharakah. The results point out that mudharabah has a partial effect and musharakah has a competitive effect on the relationship between market share and profitability.This paper can be a decision-maker for Central Bank and Financial Services Authority for encouraging sharia banks to enhance the power market through the mode of finances with profit‒loss sharing.The growth of sharia banks is currently becoming highlight of the literature of sharia banks. This paper provides insights into stewardship theory that sharia banking management provides the concept of the alignment of interest.
Enhancing cognitive and entrepreneurship competencies through EBL Kholilah; Vega Wafaretta; Dian Syariati
Asian Journal of Accounting Research Volume 4 Issue 2
Publisher : Emerald Publishing Limited

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.1108/AJAR-07-2019-0057

Abstract

Entrepreneurship-based learning (EBL) is one of the student-center learningmethods that can answer learning challenges in the era of industrial revolution 4.0. EBL is expected to improve students’ competencies and make students more adaptable to the changes in the world of work in the future. The paper aims to discuss this issue.This study uses quasi-experiments and divides classes into project class and control class. The project consists of making business proposals, conducting business, liquidating the partnership, and recording business transaction using the Xero platform. The Wilcoxon Signed Ranks Test, Mann–Whitney Test and independent t-test were carried out to test whether there are differences of cognitive abilities and entrepreneurial (general, social and functional) competencies between the project class and control class.The results of the study shows there are differences of understanding of partnership accounting and the achievement of social and functional entrepreneurial competencies between the project class and control class.This study implies in using EBL to improve entrepreneurial skills for students beyond cognitive abilities.The novelty of this research is the implementation of EBL in partnership accounting topics.

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