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Iman Harymawan
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harymawan.iman@feb.unair.ac.id
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ajar@feb.unair.ac.id
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INDONESIA
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
Core Subject :
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).
Arjuna Subject : -
Articles 111 Documents
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Environmental cost analysis and reporting to measure environmental performance in realizing eco-efficiency at PT Industri Kereta Api (Persero) Basuki Basuki; Riasty Dewi Irwanda
Asian Journal of Accounting Research Volume 3 Issue 2
Publisher : Emerald Publishing Limited

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.1108/AJAR-06-2018-0013

Abstract

The purpose of this paper is to simulate the environmental cost reports preparation used to measure environmental performance in realizing eco-efficiency.This research uses a descriptive case study by using environmental cost detail data from 2011, 2012, 2013 and 2014. The research object is PT Industri Kereta Api (Persero) located in Madiun, East Java.The result of the research shows that PT INKA (Persero) has not specifically made environmental cost report. It is found that the percentage of total environmental cost to operational cost tends to increase; the cost which gives the biggest distribution of total environmental cost is the prevention cost. By 2014, the effect of environmental costs on operating costs tended to decrease and during 2012–2014 PT INKA successfully maintained the blue star PROPER and the absence of environmental pollution reports.PT INKA’s environmental performance is still well controlled and since its inception in 2014 PT INKA has succeeded in realizing the concept of eco-efficiency.
Do Reputable Companies Produce a High Quality of Financial Statements? Iman Harymawan; Dewi Nurillah
Asian Journal of Accounting Research Volume 2 Issue 2
Publisher : Emerald Publishing Limited

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.1108/AJAR-2017-02-02-B001

Abstract

The purpose of this study is to examine the relationship between corporate reputation and earnings quality. This study uses a sample of 1,092 firm year observations from 273 firm listed companies on the Indonesia Stock Exchange from 2013 to 2016, except for the financial industry. We uses a public measure, “100 Top Emiten” by Investor magazine, as a proxy for corporate reputation, while earnings quality is measured by calculating the absolute value of discretionary accrual. Growth of assets, firm size, leverage and profitability are used as control variables in this study. Multiple linear regression analysis is used to test the research hypothesis. The results of the regression in this study indicate that corporate reputation has a positive and significant relationship with earnings quality. This indicates that a reputable company will be encouraged to produce an earnings quality in an effort for the company to maintain investor confidence in the company, so that the company's image and reputation can be maintained. Earnings management in this study was calculated using cross-sectional method instead of time series method. Cross-sectional method is a method by comparing the financial data of a company with a company or other similar industries, whereas the time series method uses the comparison of financial data in a period with the previous period by analyzing what happens behind the trend figures on a company.
Concept of Remuneration and Management Behavior Evaluation in Indonesia Sarah Yuliarini; Ku Nor Izah Bt Ku Ismail; Tantri Bararoh
Asian Journal of Accounting Research Volume 2 Issue 1
Publisher : Emerald Publishing Limited

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.1108/AJAR-2017-02-01-B001

Abstract

Environmental Accounting (EA) practices have developed rapidly in some countries and have a positive impact on their organizations. Sustainability report (SR) as an indicator of EA practices helps company gain a better reputation and it is set by management. However, some ASEAN countries including Indonesia do not have relevant accounting standards on the environment. EA practice is still not widely known in Indonesia, although, internationally there have been standards that provide guidelines for aspect of the environment such as the Global Reporting Initiative (GRI). Another aspect in GRI is remuneration. Remuneration is part of personnel cost which is a motivation about the positive effects of EA practices to disclose management concern. This research introduces a tool to evaluate a remuneration structure and the consistency of EA practices in the Sustainability Report.
Examining the phenomenon of rounding in analysts' EPS forecasts: evidence from Singapore Clarence Goh
Asian Journal of Accounting Research Volume 6 Issue 1
Publisher : Emerald Publishing Limited

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.1108/AJAR-09-2020-0083

Abstract

Prior studies have documented the phenomenon of rounding of analysts' earnings per share (EPS) forecasts in the USA. From the outset, it is unclear if analysts following Singapore firms also similarly engage in the rounding of their EPS forecasts. This study aims to investigate the extent to which analysts engage in rounding of EPS forecasts of firms listed on the Singapore Exchange.The author conducted his analysis on a sample of analyst EPS forecasts of companies listed on the Singapore Stock Exchange, downloaded from the International Brokers Estimate System (I/B/E/S). This sample consists of 24,219 annual EPS forecasts announced from June 2011 to September 2019. These forecasts were made for 285 unique firms by 48 unique analysts.The author finds that there is substantial rounding of EPS forecasts, with 9.59% of EPS forecasts examined ending in five- or ten-cent intervals. In supplementary analysis, the author further finds that the level of rounding was comparable across two periods under examination, from 2011 to 2015 and from 2016 to 2019. The author also finds that there was substantial rounding even for forecasts of relatively large magnitudes (i.e. US$1.00 and above).This study is the first to examine the rounding of analysts' EPS forecasts of Singapore firms. It extends the literature on analyst EPS forecasts and highlights how the phenomenon of rounding of analyst EPS forecasts of US firms extends to Singapore.
The influences of Shariah governance mechanisms on Islamic banks performance and Shariah compliance quality Md. Kausar Alam; Mohammad Mizanur Rahman; Mahfuza Kamal Runy; Babatunji Samuel Adedeji; Md. Farjin Hassan
Asian Journal of Accounting Research Volume ahead-of-print Issue ahead-of-print
Publisher : Emerald Publishing Limited

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.1108/AJAR-11-2020-0112

Abstract

The purpose of this paper is to examine the influences of Shariah governance (SG) mechanisms on Islamic banks' performance and Shariah compliance quality in the context of Bangladesh.A semi-structured personal interview tactic was applied to accomplish the research objectives. The data were collected from the regulators, Shariah supervisory boards, Shariah department executives and Shariah experts from the Central Bank (Bangladesh Bank) and Islamic banks in Bangladesh.The study discovers that the quality of the Board of Directors (BODs), Shariah Supervisory Board (SSB), management and Shariah executives have both positive and negative influences on the Shariah compliance quality, image, goodwill and performance of Islamic banks' in Bangladesh. The compositions, formations and quality of SSB and Shariah officers positively influence the Islamic banks' fatwas, Shariah decisions, compliance quality and firm performance. The study also finds that prevailing banking pressure, current political situation, the willingness of BOD and management and social limitations impact Islamic banks' performance, Shariah compliance quality, image and goodwill.Based on our findings, if the regulators, BODs and Islamic banks can manage effective and efficient executives, it will create a positive impact on Islamic banks' performance, image, goodwill and quality compliance. As the prevailing banking pressure, current political situation and social limitations hinder the functions and employment system of the Islamic banks as well as result the Islamic banks' image, performance, Shariah implementations and compliance. Thus, the theorist needs to consider these mechanisms in extending the agency, stakeholder and resource dependence theories.This research extends the literature concerning the influences of Islamic banks' SG mechanisms in Bangladesh. The study also argued not only the efficient and effective mechanisms but also the prevailing banking pressure, current political situation and social limitations impact on Islamic banks' performance and Shariah compliance quality.
Accounting conservatism and uncertainty in business environments; using financial data of listed companies in the Tehran stock exchange Marziyeh Hejranijamil; Afsane Hejranijamil; Javad Shekarkhah
Asian Journal of Accounting Research Volume 5 Issue 2
Publisher : Emerald Publishing Limited

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.1108/AJAR-04-2020-0027

Abstract

Applying conservatism to the preparation of financial statements has been considered not only as a natural mechanism to protect the interests of the stockholders but also as a practical way to assist managers to deal with uncertainty in business environments. This study aimed to determine if increasing uncertainty can lead to raising the level of conservatism used in preparing financial statements. The result of the study could provide a better understanding of the factors that influence the level of applying conservative methods in accounting and financial reporting.The model introduced by Basu (1997) was used to measure accounting conservatism. Business strategy and alertness were considered as two proxies for classifying companies according to their level of uncertainty. By adding each proxy of uncertainty to the model and using the financial data of 183 companies for five years (from 2013 to 2018), the multiple regression models were estimated through EViews. It was assumed that inert companies and those with prospector strategy face a higher level of uncertainty. Consequently, they were expected to report their financial status conservatively.Findings revealed that companies, which adopted a prospector strategy, applied more conservative methods in their financial reports. This indicated that facing wider uncertainty results in reporting more conservatively, which could not be said about inert companies.The current research is the first research undertaken in a developing country such as Iran, and the study's results may benefit other developing countries.
An assessment of the financial soundness of the Kazakh banks Aigul P. Salina; Xin Zhang; Omaima A.G. Hassan
Asian Journal of Accounting Research Volume 6 Issue 1
Publisher : Emerald Publishing Limited

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.1108/AJAR-03-2019-0022

Abstract

The contribution of the banking industry to the financial crisis of 2007/8 has raised public concerns about the financial soundness of banks around the world with many countries still suffering the backlogs of this crisis. The continuous emergence of such crises at both national and international levels increases governments', bank regulators' and financial market participants' need for reliable tools to assess the financial soundness of banks. In this context, this study investigates the financial soundness of the Kazakh banking sector, which is ranked by the World Bank as the first in the world in terms of the percentage of nonperforming loans (NPL) to total gross loans in 2012.Using data about all Kazakh banks over the period January 01, 2008 to January 01, 2014, the study identifies a number of accounting indicators that influence the financial soundness of banks using principal component analysis (PCA). Then, it uses the outcomes of the PCA in a cluster analysis and groups the Kazakh banks into sound, risky and unsound banks at two points in time: January 01, 2008 and January 01, 2014. This methodology was further tested against a ranking system of banks and proved to be more reliable in detecting risky banks.Fifteen financial ratios were initially selected as accounting indicators for the assessment of bank financial soundness. Using PCA, twelve indicators were isolated, which explain five principal components of capital adequacy, return on assets, profitability, asset quality, liquidity and leverage. Then using the “k-means” method, the results suggest a structure of the Kazakh banking sector on January 01, 2008 that includes two groups of banks: sound and risky banks. On January 01, 2014, this structure of the banking system has changed to include three groups of banks: sound, risky and unsound banks. Thus, in 2014 a new group of banks has emerged, i.e. financially unsound banks.The proposed cluster-based methodology has proven to be a reliable tool to detect the financial soundness of Kazakh banks, which makes us advocate its employability for bank monitoring and supervision purposes.This study is the first to employ a cluster-based methodology to assess the financial soundness of a banking sector. This methodology can be used at a micro-level to determine the structure of a banking sector. Also, it can be used to monitor any changes in the structure of a banking sector and provide early warning signals about the financial health of banks.
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.
Integrated Reporting: Are Indonesian Companies Ready to Do It? Amelia Setiawan
Asian Journal of Accounting Research Volume 1 Issue 2
Publisher : Emerald Publishing Limited

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.1108/AJAR-2016-01-02-B004

Abstract

Many companies in Indonesia already have completed sustainability reporting (SR) in their corporate reporting eventhough the regulation has not required public companies to disclose Integrated Reporting (IR) in their report. Are companies with excellent sustainability reporting ready to release integrated reporting? This question is the main concern of this paper. The published guidelines by IIRC are divided into two categories: guidelines which can be assessed objectively and those that cannot be measured objectively. Content analysis is used for data collection and analysis for annual reports of the companies used as sample in this research. The result of this research showed that companies that won Indonesia Sustainability Reporting Award are ready to disclose Integrated Reporting with few modification which adds the value of their report. The implication of the study for public companies is a encouragement to publish integrated reporting and for researchers is being preliminary research for developing research about integrated report in Indonesia.
Evaluating factors of profitability for Indian banking sector: a panel regression Rohit Bansal; Arun Singh; Sushil Kumar; Rajni Gupta
Asian Journal of Accounting Research Volume 3 Issue 2
Publisher : Emerald Publishing Limited

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.1108/AJAR-08-2018-0026

Abstract

The purpose of this paper is to quantify several measures to examine the determinants of profitability for the listed Indian banks. The authors include both public sector (PSUs) and private sector’s banks in the study. The authors have taken all the banks that are registered on the Bombay stock exchange (BSE) in the sample. This paper also intends to identify the association between the net profit margin (PM) and return on assets (ROA) with the several other independent variables of the Indian banking sector including private banks and public banks over the past six years starting from April 1, 2012 to March 31, 2017. Therefore, a sample of 39 listed banking companies and total 195 balanced observations are selected for the analysis purpose.The authors have used profitability as a dependent variable represented by net PM, ROA and several financial ratios as independent variables. Financial statement and income statement of all listed banks were obtained from BSE and particular company’s website. Panel data regression has been analyzed with both the descriptive research techniques, i.e., fixed effects and random effects. The authors also verified both panel techniques with Hausman’s specification test, which is a widely used procedure for selecting a panel effect. The authors applied PP – Fisher χ2, PP – Choi Z-statistics and Hadri to testing whether the data set is free from unit root problem and data set is a stationary series.Results imply that interest expended interest earned (IEIE) and credit deposit ratio (CRDR) reduced the profitability of private banks in India. IEIE, CRDR and quick ratio (QR) reduced the profitability of public banks in India, while cash deposit ratio (CDR) and Advances to Loan Funds (ALF) increased the effectiveness of public banks. Under the total banks IEIE, CRDR reduced the profitability, on the other side, CDR, ALF and Total Debt to Owners Fund (TDOF) increased the profitability of total banks in India. Under the dependency of ROA, CRDR and TDOF reduced the return of private banks in India, while CDR, ALF and QR enhanced the profitability of private banks.No variables found significant under public banks while taking ROA as a dependent variable. Under the overall banking data, CRDR reduced the profitability. On the other side, capital adequacy ratio and ALF increased the profitability of total banks in India. The findings of this study will support policy creators, financial executives and investors in constructing investment decisions.

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