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Miranti Kartika Dewi
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jaki@ui.ac.id
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Department of Accounting, Faculty of Economics and Business Universitas Indonesia Kampus UI Depok, Jawa Barat, 16424, Indonesia
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INDONESIA
Jurnal Akuntansi dan Keuangan Indonesia
Published by Universitas Indonesia
ISSN : 18298494     EISSN : 24069701     DOI : 10.7454/jaki
Core Subject :
JAKI aims to contribute to the development of knowledge and practice of accounting and finance by publishing theoretical and empirical research papers showcasing Indonesia as well as other emerging and developed markets. Authors are invited to submit articles that address the discourses of accounting and finance from various fields of study, such as financial accounting, public sector accounting, management accounting, Islamic accounting and financial management, auditing, capital market based accounting research, corporate governance, ethics and professionalism, corporate finance, accounting education, behavioral accounting, taxation, banking, information system, sustainability reporting, comprehensive corporate reporting, and climate change-related reporting. The contributed papers may cover the following ranges of subjects but are not limited to: - Discussion and exploration of new theory and knowledge of public, corporate and nonprofit accounting and finance - Empirical investigations providing novel and contributions substantial contributions in the above topical areas of interest - Case studies exploring accounting and finance practices are also welcome
Arjuna Subject : -
Articles 5 Documents
 1 
Search results for , issue "vol. 23, no. 1" : 5 Documents clear
THE IMPACT OF PSAK 115 (REVENUE RECOGNITION) AND PSAK 116 (LEASES) ON EARNINGS MANAGEMENT Febriyanty, Kartika Setya; Andayani, Wuryan
Jurnal Akuntansi dan Keuangan Indonesia Vol. 23, No. 1
Publisher : UI Scholars Hub

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Abstract

Background: Earnings management remains a persistent issue due to managerial discretion in accounting standards. To enhance transparency, Indonesia adopted PSAK 115 Revenue from Contracts with Customers and PSAK 116 Leases in 2020. However, empirical evidence regarding their impact on earnings management remains mixed. Method: This study uses secondary data from technology and telecommunications, real estate, and construction companies listed on the Indonesia Stock Exchange (2018–2021). The implementation of PSAK 115 and PSAK 116 is measured using dummy variables, while earnings management is proxied by discretionary accruals. Findings: The results show that PSAK 115 has a negative effect on earnings management. This finding supports previous studies by Napier and Stadler (2020) and Lee and Choi (2024) in the context of Indonesian companies. In contrast, PSAK 116 shows no significant effect on earnings management. Additional testing is conducted and produces consistent results. Conclusion: New revenue recognition standards are more effective in limiting earnings management while new lease recognition standards have no effect on limiting accrual-based earnings management. Novelty/Originality: This study simultaneously examines PSAK 115 and PSAK 116 and distinguishes between lessees and lessors, providing a more comprehensive perspective on accounting standards and earnings management.
GREENHOUSE GAS EMISSIONS DISCLOSURE ON FIRM VALUE AND FINANCIAL PERFORMANCE IN EU-ETS MEMBER COUNTRIES Pramesti, Retta Farah; Sueb, Memed
Jurnal Akuntansi dan Keuangan Indonesia Vol. 23, No. 1
Publisher : UI Scholars Hub

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Abstract

Background: Climate change and regulatory frameworks such as the European Union Emission Trading System (EU ETS) have increased pressure on firms to manage and disclose greenhouse gas (GHG) emissions. However, the financial and market consequences of GHG emissions and disclosure remain debated. Method: This study employs a quantitative causal-comparative design using secondary data from the Refinitiv database for 2015–2024. The sample consists of 2,315 European firms participating in the EU ETS. Regression analysis is conducted to examine the effects of GHG emissions and their disclosure on firm value, return on assets (ROA), and return on equity (ROE), with firm size and capital structure as control variables. Signaling theory underpins the analysis. Findings: GHG emissions and their disclosure significantly affect firm value and show a weak but positive effect on ROA, while they do not significantly influence ROE. The findings indicate that sustainability-related factors are more strongly reflected in market valuation and short-term asset efficiency than in equity-based profitability. Conclusion: Effective GHG management and transparent disclosure enhance market value and operational performance but do not directly improve shareholder returns. Novelty/Originality of this article: This study provides recent evidence from EU ETS firms, focusing specifically on GHG emissions and disclosure within a regulated European context.
DOES SUSTAINABILITY REPORT ASSURANCE MATTER? SYMBOLIC VERSUS SUBSTANTIVE ESG GREENWASHING Solikhah, Badingatus
Jurnal Akuntansi dan Keuangan Indonesia Vol. 23, No. 1
Publisher : UI Scholars Hub

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Abstract

Background: Greenwashing reduces the credibility of ESG disclosure by creating a gap between reported information and actual performance. Taiwan offers a relevant context because ESG disclosure is partially mandatory, while sustainability assurance is voluntary. This study investigates how sustainability assurance and institutional pressure influence greenwashing and whether governance quality strengthens these relationships. Method: This study uses panel data of non-financial firms listed on the TWSE and OTC markets from 2017 to 2023. Greenwashing is measured using standardized ESG ratings and ESG controversies, and a peer-relative measure based on Bloomberg and TEJ database is added for robustness. Findings: The results show that sustainability assurance and institutional ownership are negatively associated with greenwashing, suggesting that external verification and investor monitoring enhance the credibility of ESG reporting. Governance quality reinforces these effects, indicating that stronger governance structures respond better to external pressure and are less likely to engage in symbolic ESG practices. These results provide practical insight for regulators and investors in markets with partial or voluntary ESG requirements by showing which mechanisms can help reduce misleading ESG claims. Conclusion: Sustainability assurance, investor oversight, and governance quality jointly reduce opportunistic ESG practices. Novelty/Originality of this article: This study introduces a refined greenwashing measure using ESG ratings and controversies and provides rare evidence on how assurance and governance interact to reduce greenwashing in a partially mandatory disclosure context.
FROM METRICS TO IMPACT: EXPLORING SOCIAL DIMENSION IMPACT WITHIN EMPLOYEE LENS IN BANKING SECTOR Sianturi, Meiwinda Mariana; Hermawan, Marko S
Jurnal Akuntansi dan Keuangan Indonesia Vol. 23, No. 1
Publisher : UI Scholars Hub

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Abstract

Background: This study explores the integration of the social dimension of Environmental, Social, and Governance (ESG) principles within the banking sector, using the GRI 400 standards as a guiding framework. Method: Drawing on qualitative data from 18 employees at different levels ranging from outsourcing staff to Group Head level at one of Indonesian private bank. Findings: The findings reveal a clear gap between formal ESG metrics and employees’ real-life experiences. Employee awareness and perceptions differ notably by position, with higher level employees often showing greater responsiveness and a stronger intention to integrate sustainability into their daily work. Conversely, outsourced and lower-level employees tend to have fewer opportunities to join social programs, access training, or engage in policy discussions—limiting both their growth and their willingness to participate in ESG initiatives. Despite growing regulatory pressure that reflects coercive isomorphism, social ESG initiatives often remain symbolic, limited to surface-level key performance indicators (KPIs) rather than being internalized as impactful values. Many employees—particularly those in outsourced or low level roles are excluded from meaningful social activities, training, and policy engagement. However, pockets of genuine progress emerge where inclusive leadership and open communication enable bottom-up participation. Conclusion: By shifting the focus from metric to impact, it calls for more participatory, employee-centered ESG strategies that foster cultural transformation and sustainability from within. Novelty/Originality of this article: This study offers a fresh perspective by exploring the social dimension of ESG through the experiences of employees, using the GRI 400 framework as a guide. It shows that ESG practices are not experienced equally across different levels of the organization. By moving beyond traditional metric-based assessments, the study uncovers a gap between what is formally reported in ESG disclosures and what employees actually experience in their daily work. In doing so, it highlights how ESG implementation in banking institutions often remains symbolic rather than truly embedded in organizational practices.
TERM LIMIT EFFECTS IN INDONESIA: LOCAL GOVERNMENT REVENUE VS. SPENDING Muamarah, Hanik Susilawati
Jurnal Akuntansi dan Keuangan Indonesia Vol. 23, No. 1
Publisher : UI Scholars Hub

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Abstract

Background: The term limit of local leaders creates a puzzle between the "lame-duck effect" (declining performance) and the "competence effect" (improved performance). This study contextualizes this dilemma within the Indonesian context, which has strong incentives for non-re-election, such as the formation of political dynasties. We investigate this puzzle by examining the relationship between term-limited leaders and two distinct fiscal policy areas: regulation-bound tax revenue and discretionary capital expenditure. Methods: A fixed-effects model was employed to analyze panel data from 438 regencies and municipalities from 2017 to 2023. Findings: In the high-discretion area of spending, term-limited leaders increase capital expenditure, supporting agency theory, which suggests that leaders seek reputational incentives by leaving behind physical legacy projects. In contrast, no significant effect was found in the low-discretion revenue area, indicating that institutional constraints neutralize both the lame-duck and competence effects. Our model did not find sufficient support for the moderating effect of the COVID-19 pandemic as an external shock. Conclusion: The effect of term limits depends on policy discretion. Leaders pursue reputational incentives in high-discretion areas (spending), whereas the effect is limited in low-discretion areas (revenue). Novelty/Originality of this article: This study contributes to public sector accounting research by examining the connection between political incentives and local government fiscal policy decisions, with a focus on how term-limited leaders utilize their discretion in capital expenditure, particularly within a developing country and pandemic context subject to agency constraints.

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