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Assets : Jurnal Ilmiah Ilmu Akuntansi, Keuangan dan Pajak
Published by Institut Teknologi dan Bisnis Widya Gama
ISSN : 25982885     EISSN : 25986074     DOI : https://doi.org/10.30741/assets
Core Subject : Economy,
Economics, Econometrics & Finance
Assets : Jurnal Ilmiah Ilmu Akuntansi, Keuangan dan Pajak published twice a year in January and July, published by the Department of Accounting, Institut Teknologi dan Bisnis Widya Gama Lumajang since January 2017. Assets : Jurnal Ilmiah Ilmu Akuntansi, Keuangan dan Pajak intended as a forum for publishing scientific articles in the accounting field.
Arjuna Subject : Bisnis, Menejemen, dan Akutansi (semua kategori) - Akuntansi
Articles 202 Documents
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Profitability as a Moderator of Intellectual Capital, Social Responsibility, and Enterprise Risk Management Effects on Firm Value Suharsono, Judi; Wilamsari, Feni; Fithrianto, M Novan; Andrianata, Mufid; Nisak, Choirun
Assets : Jurnal Ilmiah Ilmu Akuntansi, Keuangan dan Pajak Vol. 9 No. 2 (2025): July 2025
Publisher : Institut Teknologi dan Bisnis Widya Gama Lumajang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30741/assets.v9i2.1553

Abstract

The purpose of this research is to investigate the effect of Intellectual Capital (IC), Corporate Social Responsibility (CSR), and Enterprise Risk Management (ERM) on firm value, with profitability as a moderating variable. This study is motivated by the inconsistent findings in previous research regarding the influence of IC, CSR, and ERM on firm value, particularly in emerging markets such as Indonesia. In recent years, the food and beverage sector in Indonesia has experienced dynamic growth, driven by changing consumer behavior, digital transformation, and increasing investor attention. Despite this, many firms in the sector still face challenges in maintaining sustainable value creation. The scope of this investigation includes food and beverage sector firms listed on the Indonesia Stock Exchange (IDX) during the period 2021–2023. Explanatory inquiry is employed as the research method, using a population of 72 firms and a sample of 22 firms selected through purposive sampling. The data were analyzed using moderating regression analysis with the help of EViews 13 software. The findings revealed that Intellectual Capital, Corporate Social Responsibility, and Enterprise Risk Management did not significantly influence firm value, and profitability did not moderate these relationships.
How Financial Performance Affects the Value of Conventional National Commercial Banks in Indonesia Sochib, Sochib; Liyundira, Fetri Setyo; Yulianti, Ani
Assets : Jurnal Ilmiah Ilmu Akuntansi, Keuangan dan Pajak Vol. 9 No. 2 (2025): July 2025
Publisher : Institut Teknologi dan Bisnis Widya Gama Lumajang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30741/assets.v9i2.1569

Abstract

The objective of this study is to investigate the impact of financial performance on the firm value of Indonesia’s national commercial banks throughout the years 2017 to 2023, which includes the COVID-19 pandemic. Financial performance is reflected using the Return on Assets (ROA), Return on Equity (ROE), and Net Interest Margin (NIM) indicators, while firm value is reflected by the Price to Earnings Ratio (PER), Operating Expense to Operating Income (OEOI), and Non-Performing Loan (NPL). The analysis method used is Partial Least Squares Structural Equation Modeling (PLS-SEM). The population in this study is a national conventional banking entity listed on the IDX in 2017-2023. Sampling using a purposive sampling technique so that a sample of 23 companies was obtained with 161 observations. The study finds that financial performance negatively affects firm value, revealing a gap between theory and actual outcomes. While ROA declined, PER increased during the study period, indicating that firm value in the banking sector is not solely influenced by short-term profitability. Instead, it is also shaped by market expectations of economic recovery and government policies. These findings offer useful insights for improving management strategies, strengthening risk control, and enhancing long-term firm value.
The Role of Profitability in Mediating the Effect of Corporate Social Responsibility on Firm Value Juliasari, Deni; Ana, Selvia Roos; Yulianti, Ani; Heni, Heni; Cahyaningati, Retno
Assets : Jurnal Ilmiah Ilmu Akuntansi, Keuangan dan Pajak Vol. 9 No. 2 (2025): July 2025
Publisher : Institut Teknologi dan Bisnis Widya Gama Lumajang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30741/assets.v9i2.1667

Abstract

This research seeks to investigate the impact of Corporate Social Responsibility (CSR) on firm value, with profitability examined as a mediating variable. Employing a quantitative explanatory approach, the study uses purposive sampling as its sampling technique. The sample comprises 15 energy sector companies listed on the Indonesia Stock Exchange between 2021 and 2023, yielding a total of 45 firm-year observations. The analytical methods involve panel data regression and mediation analysis using the Sobel test. The findings reveal that CSR does not have a significant influence on profitability, nor does it directly affect firm value. However, profitability is found to have a significant effect on firm value. Furthermore, CSR is not shown to impact firm value indirectly through profitability. Although CSR is often regarded as a strategic initiative aimed at enhancing corporate image and fostering long-term sustainability, the results suggest that within the context of energy companies during the observed period, CSR activities have not generated sufficient financial benefits to boost profitability, and consequently, do not contribute meaningfully to the enhancement of firm value.
The Influence of Internal Control and Individual Morality on Fraud Prevention in Industrial Garment Company Azhari, Farida; Bayunitri, Bunga Indah
Assets : Jurnal Ilmiah Ilmu Akuntansi, Keuangan dan Pajak Vol. 9 No. 1 (2025): January 2025
Publisher : Institut Teknologi dan Bisnis Widya Gama Lumajang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30741/assets.v9i1.1446

Abstract

The purpose of this study is to ascertain whether fraud prevention at CV X, Bandung Regency, is impacted by internal control and personal ethics. Internal control and personal morality are the independent variables that are being examined in this study. Preventing fraud is the dependent variable. The quantitative descriptive approach method is the research methodology employed in this study. The study's population consisted of 58 workers at CV X Kab. Bandung. The census method with purposive sampling was the sample strategy employed in this investigation. 58 employees of CV X Kab. Bandung serve as the research's sample size. At a significance level of 5%, multiple linear regression analysis is the analysis approach employed in this study. Based on the results of the study, it shows that internal control, individual morality on fraud prevention at CV X Kab.bandung included in the good category. Besides that partial research results (t test) show that internal control affects fraud prevention in CV X Kab.bandung and individual morality affects fraud prevention in CV X Kab.bandung.
The Influence of Corporate Social Responsibility and Good Corporate Governance on Market Response with Corporate Reputation as a Moderator Makhmudah, Syahriyatul; Jariah, Ainun; Fadah, Isti; Kasno, Kasno
Assets : Jurnal Ilmiah Ilmu Akuntansi, Keuangan dan Pajak Vol. 10 No. 1 (2026): January 2026
Publisher : Institut Teknologi dan Bisnis Widya Gama Lumajang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30741/assets.v10i1.1679

Abstract

This study examines the impact of Corporate Social Responsibility (CSR) and Good Corporate Governance (GCG) on market response, with corporate reputation as a moderating variable. The research focuses on property sector companies listed on the Indonesia Stock Exchange (IDX) during the 2020–2023 period, using a purposive sample of 13 firms. A quantitative approach is employed, applying multiple linear regression and moderated regression analysis (MRA) to test both direct and interaction effects. CSR is measured based on disclosures aligned with Global Reporting Initiative (GRI) indicators and Financial Services Authority (POJK) regulations, while GCG is proxied by managerial ownership. Market response is assessed using cumulative abnormal return (CAR), and corporate reputation is evaluated through indicators of public visibility and corporate image. The findings reveal that CSR has a positive and significant effect on market response, indicating that social responsibility disclosures provide favorable signals to investors. Conversely, GCG does not significantly influence market response, suggesting that governance mechanisms have not yet become a primary consideration for investors in the property sector. Corporate reputation is found to strengthen the relationship between CSR and market response, but it does not moderate the relationship between GCG and market response. These results highlight the strategic role of corporate reputation in enhancing the market impact of CSR activities. The study contributes to the development of legitimacy and agency theories in the Indonesian capital market and provides practical implications for companies, regulators, and investors in integrating non-financial information into investment and governance decisions
The Effect of Good Corporate Governance, Interest Rate, and Inflation on Islamic Stock Prices Wijaya, Herman; Maulita, Dian; Salsabila, Nisrina; Azahra, Najwa
Assets : Jurnal Ilmiah Ilmu Akuntansi, Keuangan dan Pajak Vol. 10 No. 1 (2026): January 2026
Publisher : Institut Teknologi dan Bisnis Widya Gama Lumajang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30741/assets.v10i1.1747

Abstract

This study aims to examine the effect of corporate governance mechanisms and macroeconomic factors on the trading values of Shariah-compliant stocks. The governance variables include independent board representation, institutional ownership, managerial ownership, and audit committees, while the macroeconomic variables include inflation and interest rates. The research adopts a quantitative associative approach, using stock value as the dependent variable. The sample comprises 30 manufacturing companies listed on the Indonesia Stock Exchange (IDX) and included in the Jakarta Islamic Index (JII) during the 2020–2024 period, resulting in 150 annual financial statements. Data were obtained from secondary sources, selected purposively, and analyzed using multiple linear regression at the 5% significance level. The results show that independent directors, institutional ownership, managerial ownership, and audit committees do not have a significant effect on Shariah stock prices, indicating that internal corporate governance mechanisms have not effectively influenced market valuation. In contrast, inflation and interest rates have a significant negative effect on Shariah stock prices, as rising prices and higher borrowing costs reduce profitability and investor interest. These findings suggest that macroeconomic conditions play a more dominant role than internal governance factors in determining Shariah stock performance. Therefore, investors should pay closer attention to inflation and interest rate movements. At the same time, regulators and management should focus on maintaining economic stability and improving corporate governance effectiveness to enhance market confidence.
Implementation Policy: Regional Tax Exemption from the Perspective of Boarding House Taxpayers Rohmatunnisa, Layly Dwi
Assets : Jurnal Ilmiah Ilmu Akuntansi, Keuangan dan Pajak Vol. 10 No. 1 (2026): January 2026
Publisher : Institut Teknologi dan Bisnis Widya Gama Lumajang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30741/assets.v10i1.1779

Abstract

This Study: This aims to understand and describe owners' perceptions. Boarding house businesses in Malang City towards the implementation of implementation policy of liberation of tax area business boarding house businesses. Research This is a qualitative study with the use interview method with nine owner boarding house businesses, Malang City Regional Revenue Agency officers, and one officer at the Malang Pratama Tax Office. Research results show that policy liberalization of tax boarding houses causes a different view: owner businesses feel benefited, while BAPENDA considers the lost government revenue​ becomes a mediator to evaluate policy. This is a balancing solution that burdens taxes and efficiency management income area.
Ownership Structure, Capital Structure, and Their Impact on Financial Performance Waluyo, Christopher Glenn Caesar; Kirana, Nanda Wahyu Indah
Assets : Jurnal Ilmiah Ilmu Akuntansi, Keuangan dan Pajak Vol. 10 No. 1 (2026): January 2026
Publisher : Institut Teknologi dan Bisnis Widya Gama Lumajang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30741/assets.v10i1.1781

Abstract

This study aims to analyze the effect of concentrated ownership, managerial ownership, and capital structure on the financial performance of companies in the banking sector listed on the Indonesia Stock Exchange (IDX) during the period 2020–2023. This study provides empirical insight into how ownership structure and funding policies affect company profitability amid economic dynamics and competition in Indonesia's banking industry. A quantitative approach was used, with panel data regression analysis in EViews version 13, based on secondary data from the annual financial reports of the sample companies. The concentrated ownership is measured as the percentage of the largest institutional shareholding. The managerial ownership variable is measured by the proportion of shares owned by management. The DER ratio represents capital structure. Financial performance is measured using the ROA profitability ratio. Their results show that concentrated ownership and capital structure have significant effects on company financial performance, whereas managerial ownership does not.
Do Tax Strategies and Political Ties Shape Sustainability? Wardhana, Ricko Syahputra Jaya; Putri, Sofie Yunida
Assets : Jurnal Ilmiah Ilmu Akuntansi, Keuangan dan Pajak Vol. 10 No. 1 (2026): January 2026
Publisher : Institut Teknologi dan Bisnis Widya Gama Lumajang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30741/assets.v10i1.1784

Abstract

This study analyzes the effect of tax aggressiveness and political connections on corporate sustainability, with firm size as a moderating variable, using 27 State-Owned Enterprises (SOEs) and Local Government-Owned Enterprises (LGOEs) listed on the Indonesia Stock Exchange (IDX) during 2020–2024. Employing a quantitative approach with panel data regression, tax aggressiveness is measured through CETR, political connections through board affiliation indicators, firm size through total assets, and corporate sustainability through ESG-related disclosure scores. The results show that tax aggressiveness has no significant effect on corporate sustainability, indicating that short-term tax-reduction strategies do not translate into improvements in long-term sustainability performance. In contrast, political connections demonstrate a positive and significant influence on corporate sustainability. This suggests that politically connected firms may gain better access to resources, stronger institutional support, and enhanced legitimacy, thereby improving their sustainability outcomes. Furthermore, firm size does not moderate the relationship between tax aggressiveness and corporate sustainability, nor does it moderate the effect of political connections. This implies that the benefits of political ties persist regardless of organizational scale, and the impact of tax aggressiveness remains consistent across both smaller and larger SOEs/LGOEs. In practice, these findings highlight the importance of state-owned enterprises in strengthening governance structures while leveraging political relationships constructively to enhance sustainability performance. Building transparent collaborations and aligning political support with long-term sustainability goals can help SOEs and LGOEs improve their resilience and public accountability.
Earnings Management as Moderator of Financial Performance and Firm Value in Indonesian Banks Sochib, Sochib; Liyundira, Fetri Setyo; Ana, Selvia Roos; Yulianti, Ani
Assets : Jurnal Ilmiah Ilmu Akuntansi, Keuangan dan Pajak Vol. 10 No. 1 (2026): January 2026
Publisher : Institut Teknologi dan Bisnis Widya Gama Lumajang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30741/assets.v10i1.1795

Abstract

This study investigates the moderating role of earnings management in the connection between financial performance and firm value in conventional national commercial banks in Indonesia during 2017–2023, including the coronavirus pandemic period. Financial performance is measured by Return on Assets (ROA), Return on Equity (ROE), and Net Interest Margin (NIM). At the same time, the company's value is represented by the Price-Earnings Ratio (PER), Operating Expenses to Operating Income (OEOI), and Non-Performing Loans (NPL). A purposive sampling method selected 23 conventional banks, generating 161 observations. Data were analyzed using Structural Equation Modeling using Partial Least Squares (PLS-SEM) to examine both direct and moderating effects. The analysis shows that financial performance significantly and negatively affects firm value. However, earnings management does not exert a significant effect and fails to moderate the relationship. These findings indicate a gap between theoretical assumptions and actual market behavior, as firm value tends to increase even as profitability declines. The study concludes that firm value in banking is shaped more by market expectations and government policies than short-term profits. Managers should strengthen communication, apply effective risk management, and focus on sustainable strategies. Future research is encouraged to broaden indicators and incorporate macroeconomic and regulatory variables.

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