Jurnal Akuntansi dan Keuangan
The Jurnal Akuntansi dan Keuangan (JAK) is a peer-reviewed journal, published biannually in May and November by The Institute of Research and Community Outreach, Petra Christian University, Surabaya, Indonesia. The JAK invites manuscripts in the various topics include, but not limited to, functional areas of accounting and finance, financial accounting and securities market, management accounting, accounting information systems, auditing and taxation.
Articles
94 Documents
<![CDATA[Political Connections and Income Smoothing: Does Ownership Structure Matter? ]]>
<![CDATA[Imanuela Wahyu Krisdina]]>;
<![CDATA[Yeterina Nugrahanti]]>
<![CDATA[ Jurnal Akuntansi dan Keuangan Vol. 27 No. 1 (2025): MAY 2025 ]]>
Publisher : <![CDATA[Institute of Research and Community Outreach - Petra Christian University ]]>
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DOI: 10.9744/jak.27.1.79-90
<![CDATA[This study aims to examine the effect of political connections on income smoothing. In addition, this study seeks to investigate whether ownership structure, as operationalized by institutional and managerial ownership, strengthens or weakens the relationship between political connections and income smoothing. This study uses political connection as the independent variable, income smoothing as the dependent variable, and institutional ownership and managerial ownership as the moderating variables. This study uses secondary data from publicly listed Indonesian energy-sector firms’ annual reports for 2020-2022. The logistic regression and Moderated Regression Analysis (MRA) reveal that political connections positively affect income smoothing. Additionally, as a moderating variable, institutional (managerial) ownership mitigates (strengthens) the effect of political connections on income smoothing]]>
<![CDATA[The Impact of Company Financial Performance and Audit Fees on the Disclosure of Key Audit Matters (KAM) ]]>
<![CDATA[Novia Gita Rhamadhani]]>;
<![CDATA[Dina Heriyati]]>
<![CDATA[ Jurnal Akuntansi dan Keuangan Vol. 27 No. 1 (2025): MAY 2025 ]]>
Publisher : <![CDATA[Institute of Research and Community Outreach - Petra Christian University ]]>
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DOI: 10.9744/jak.27.1.35-49
<![CDATA[Key Audit Matters (KAM), recently mandated by ISA 701, aim to enhance audit transparency by addressing critical audit areas. This study provides empirical evidence on the impact of financial performance and audit fees on KAM disclosures. Furthermore, it categorizes KAM into two risk levels: Entity-Level Risk (ELRKAM) and Account-Level Risk (ALRKAM). The data analyzed consist of 1,080 firm observations listed on the Indonesia Stock Exchange (IDX) for the period 2022-2023. The researchers conducted panel data regression analysis using EViews 12.0. The findings reveal that financial performance has no significant impact on the overall KAM or ELRKAM disclosures but does affect ALRKAM. This indicates that auditors focus more on specific risk areas rather than on overall financial performance. On the other hand, we find that audit fees positively influence the disclosure of overall KAM and ELRKAM, but they have no effect on ALRKAM. These results suggest that higher audit fees contribute to enhanced transparency regarding overall risks but do not necessarily affect the disclosure of specific account-level risks.]]>
<![CDATA[The Influence of Organizational Slack on Firm Performance Moderated by Managerial Ability ]]>
<![CDATA[Eduard Ary Binsar Naibaho]]>;
<![CDATA[Fricilia Hardiata]]>
<![CDATA[ Jurnal Akuntansi dan Keuangan Vol. 27 No. 1 (2025): MAY 2025 ]]>
Publisher : <![CDATA[Institute of Research and Community Outreach - Petra Christian University ]]>
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DOI: 10.9744/jak.27.1.1-22
<![CDATA[This study examines the influence of organizational slacks on firm performance with managerial ability as a moderating variable. We divide organizational slack into three categories: available slack (current ratio), recoverable slack (sales, general, and administrative expenses ratio), and potential slack (debt-to-equity ratio). Data envelopment analysis (DEA) measures managerial ability and firm efficiency. We collected secondary data from 678 companies in ASEAN 5, excluding the financial sector, on S&P Capital IQ for the period of 2019-2023. We used a fixed-effect panel data model with purposive sampling. The results show that available slack has a positive effect on Tobin's Q and a negative impact on ROA. Recoverable slack, potential slack, and managerial ability have a negative effect on firm performance. Managerial ability can moderate the relationship between organizational slack and Tobin's Q. Additionally, managerial ability can moderate the relationship between recoverable slack and ROA. In contrast, managerial ability cannot moderate the relationship between available slack and potential slack with ROA.]]>
<![CDATA[The Effect of Tax Relief Regulations on Dividend Policy of Publicly Listed Companies in Indonesia ]]>
<![CDATA[Harapon Angun Kasogi]]>;
<![CDATA[Zaäfri Ananto Husodo]]>
<![CDATA[ Jurnal Akuntansi dan Keuangan Vol. 27 No. 1 (2025): MAY 2025 ]]>
Publisher : <![CDATA[Institute of Research and Community Outreach - Petra Christian University ]]>
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DOI: 10.9744/jak.27.1.62-78
<![CDATA[This study aims to analyze the impact of tax relief regulations, effective since 2021, on the dividend policies of publicly listed companies in Indonesia. We use panel data covering a three-year period before and after the implementation of the tax relief. This study uses a total of 413 listed companies, resulting in 2489 observations over the six-year research period. Logit regression and fixed-effect regression analyses are employed to identify the effects on the number of companies distributing dividends and the total dividends distributed, with firm-specific characteristics used as control variables. The logit regression results indicate that tax relief does not lead to a significant increase in the number of companies distributing dividends. However, there is a significant increase in the dividend levels among dividend-paying companies. To further encourage dividend distribution, the government can optimize existing regulations by considering criteria for tax relief eligibility based on dividend distribution activities. These findings can also serve as a consideration for investors when constructing their portfolios and for companies when designing dividend policies.]]>
<![CDATA[The Substance of Indonesian Women Directors in Creating Value ]]>
<![CDATA[Saarce Elsye Hatane]]>;
<![CDATA[Sylvia Natasha Sinaga]]>;
<![CDATA[Hendri Kwistianus]]>;
<![CDATA[Tristan Nguyen]]>
<![CDATA[ Jurnal Akuntansi dan Keuangan Vol. 27 No. 1 (2025): MAY 2025 ]]>
Publisher : <![CDATA[Institute of Research and Community Outreach - Petra Christian University ]]>
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DOI: 10.9744/jak.27.1.91-104
<![CDATA[This paper aims to provide insight into the impact of the existence of female directors in the board of directors on firm value by taking into consideration the educational level and tenure of women directors in the governance of Indonesia’s companies. The hypotheses are tested on 177 Indonesian listed companies in the IDX between 2015-2020, manufacturing and retail industries, using the weighted least squares regressions. The evidence conveys that the educational level rather than the simple presence of women directors can increase firm value. Additionally, results reveal that the tenure of women is negatively related to firm value, as it might impair the board's independence. This study explores the potential of women on board through their educational level and tenure in the firms. Future studies may expand to include factors such as family background, reputation, and other personal or professional elements that can enhance women's performance in companies. Few studies have addressed the impact of women across different industries, especially in developing economies. This research contributes by examining the demographic variables of women board members that are still poorly apprehended (i.e. their educational level and tenure) in such a setting.]]>
<![CDATA[Front Mater (Cover, Editorial, Table of Content) ]]>
<![CDATA[Jurnal Akuntansi dan Keuangan]]>
<![CDATA[ Jurnal Akuntansi dan Keuangan Vol. 27 No. 1 (2025): MAY 2025 ]]>
Publisher : <![CDATA[Institute of Research and Community Outreach - Petra Christian University ]]>
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<![CDATA[Driving Sustainability: The Role of Managerial Ability and Board Characteristics with Green CEO as a Moderator ]]>
<![CDATA[Mariska Ramadana]]>;
<![CDATA[Yulias Hidayah]]>;
<![CDATA[Ria Karina]]>
<![CDATA[ Jurnal Akuntansi dan Keuangan Vol. 27 No. 2 (2025): NOVEMBER 2025 ]]>
Publisher : <![CDATA[Institute of Research and Community Outreach - Petra Christian University ]]>
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DOI: 10.9744/jak.27.2.140-152
<![CDATA[This study aims to examine and analyze the impact of managerial ability and the roles of the Board of Directors (BOD) on sustainability performance, with a focus on green CEO as a moderating variable. The BOD roles include an educational background in accounting and foreign experience, with an emphasis on companies in Indonesia. This study employs secondary data from the Indonesia Stock Exchange (IDX), with a sample of 39 manufacturing companies from 2018 to 2022. Data analysis was conducted using Eviews 12. The findings reveal that managerial ability and directors with foreign experience significantly enhance sustainability performance, with the green CEO strengthening the positive effect of managerial ability on sustainability performance. However, directors with an accounting education background show no significant effect. This study acknowledges several limitations. First, while our sample includes multiple sectors to enhance generalizability, regional differences within Indonesia still pose challenges. Second, the complex interaction between managerial abilities, BOD roles, and the green CEO requires careful analysis to avoid confounding effects. This study introduces green CEO as a moderating factor in the relationship between managerial ability and sustainability performance, a novel approach that has received limited attention in prior research. Exploring how environmentally oriented leadership influences sustainability strategies adds a fresh dimension to the literature.]]>
<![CDATA[ESG, CEO Tenure, and Firm Performance: A Real Estate Dilemma in ASEAN-6 ]]>
<![CDATA[Doni Iwan Prasetyo]]>;
<![CDATA[Y. Anni Aryani]]>
<![CDATA[ Jurnal Akuntansi dan Keuangan Vol. 27 No. 2 (2025): NOVEMBER 2025 ]]>
Publisher : <![CDATA[Institute of Research and Community Outreach - Petra Christian University ]]>
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DOI: 10.9744/jak.27.2.105-116
<![CDATA[This study examines the effect of ESG (Environmental, Social, and Governance) disclosure on the performance of real estate companies in the ASEAN-6 region, with CEO tenure as a moderating variable. Using panel data from 2016 to 2023, covering 424 observations of real estate firms listed on ASEAN-6 stock exchanges, this study employs the Random Effect Model (REM) to analyze the relationships between variables. The findings reveal that ESG disclosure has a negative and significant impact on firm performance, as measured by Tobin's Q. However, the interaction between ESG disclosure and CEO tenure exhibits a positive and significant effect. These results indicate that longer-tenured CEOs can moderate the relation-ship between ESG disclosure and firm performance. The implications of this research provide valuable insights for companies to enhance ESG transparency and consider leadership stability in optimizing long-term performance.]]>
<![CDATA[Outside-In and Inside-Out Perspectives: An Analysis of ESG’s Social Dimension in Indonesian Air Navigation Company ]]>
<![CDATA[Erlyansa Cahyandari]]>;
<![CDATA[Marko Sebira Hermawan]]>
<![CDATA[ Jurnal Akuntansi dan Keuangan Vol. 27 No. 2 (2025): NOVEMBER 2025 ]]>
Publisher : <![CDATA[Institute of Research and Community Outreach - Petra Christian University ]]>
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DOI: 10.9744/jak.27.2.153-164
<![CDATA[The increasing quality issues of sustainability reports in general include several important aspects that can affect the credibility and usefulness of the report. In this context, the materiality of information enhances the relevance and transparency of the company's disclosures. This study examines the implementation of social materiality perspectives at the Indonesian Air Navigation Company within the Environmental, Social, and Governance (ESG) principles framework by integrating the outside-in and inside-out perspectives. Utilizing a materiality perspective, this research supports organizations in preparing disclosures of essential information within sustainability reports. The research uses a qualitative method, utilizing document review and semi-structured interviews with key stakeholders to explore ways to disclose outside-in and inside-out perspectives with sustainability reporting. The findings show that integrating social components into a company's ESG framework highlights its approach to materiality. The company measures its operational activities against various external requirements, embodying an outside-in perspective that reflects how external factors affect its operations. The company's materiality is in line with the outside-in perspective that takes into account investor considerations and financial risks; this also shows the use of the POJK 51 / POJK.03 / 2017 framework to adjust to the company's needs. Meanwhile, the company continues to allocate resources for social initiatives that improve stakeholder welfare, which represents an inside-out materiality perspective where internal capabilities are utilized to overcome operational pressures.]]>
<![CDATA[Audit, Gender, and Taxes: The Interplay Between Female CEOs and Big Four Auditors ]]>
<![CDATA[Nurul Fitriani]]>;
<![CDATA[Selma Putri Safira]]>
<![CDATA[ Jurnal Akuntansi dan Keuangan Vol. 27 No. 2 (2025): NOVEMBER 2025 ]]>
Publisher : <![CDATA[Institute of Research and Community Outreach - Petra Christian University ]]>
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DOI: 10.9744/jak.27.2.117-127
<![CDATA[This research examines the relationship between CEOs’ gender and the presence of top-tier external auditors, specifically those from the Big Four, with corporate tax avoidance practices in Indonesia. Based on agency theory and considering Indonesia's unique institutional landscape, where women remain underrepresented in executive leadership, the study explores how gender and audit quality influence corporate financial behavior. Using 1,001 firm-year observations from publicly listed Indonesian companies between 2021 and 2023, regression analysis tested the effects of female leadership and Big Four auditors on tax strategies. Findings reveal that companies led by female CEOs tend to engage in higher levels of tax avoidance. However, when Big Four auditors are involved, this relationship weakens, demonstrating the role of high-quality audits in curbing managerial discretion and enhancing accountability. The study offers fresh insights into corporate governance in emerging markets.]]>
