Jurnal Akuntansi dan Keuangan Indonesia
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
Articles
266 Documents
<![CDATA[KARAKTERISTIK BANK LIKUIDASI DAN RESTRUKTURISASI DI INDONESIA ]]>
<![CDATA[Siswantoro, Dodik]]>
<![CDATA[ Jurnal Akuntansi dan Keuangan Indonesia Vol. 1, No. 2 ]]>
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<![CDATA[Monetary crisis, which leads to unstable economic condition, has caused a number of banks being liquidated. This research is conducted by using major accounting ratios in order to identify the characteristics of liquidated and restructured banks, of which are listed in Jakarta Stock Exchange. The growth of bank industry was highly related with Paket Oktober 1988. This condition is marked by increasing number of banks, from 40 companies in 1988 to 240 companies in 1994. This research is conducted based on a three period financial information, commencing 1994 to 1996. Proven hypothesis concludes that the number of restructured banks is greater than of liquidated banks. On the other hand, the hypothesis related to leverage and gain has failed to be proven. However, the big sample that can be analyzed through boxplot may be the caused to this result.]]>
<![CDATA[DAMPAK TINGKAT PENGUNGKAPAN INFORMASI PERUSAHAAN TERHADAP VOLUME PERDAGANGAN DAN RETURN SAHAM: PENELITIAN EMPIRIS TERHADAP PERUSAHAAN-PERUSAHAAN YANG TERCATAT DI BURSA EFEK JAKARTA ]]>
<![CDATA[Junaedi, Dedi]]>
<![CDATA[ Jurnal Akuntansi dan Keuangan Indonesia Vol. 2, No. 2 ]]>
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<![CDATA[The purpose of this study is to evaluate the effect of disclosure level to market indicators, such as trading volume activity (TVA) and stock returns. This study also tries to evaluate the difference in market indicators for companies with differences in disclosure level: comprehensive and non-comprehensive. This study adopts content analysis approach in generating disclosure index, using data from annual reports of firms listed in the JSX in the periods of 2000 - 2002. This study uses mean comparison analysis and regression analysis, both linear and hgistic, in testing the effect of disclosure level to market indicators of companies with comprehensive and non-comprehensive disclosure. This study does not provide empirical evidence to support the effect ofdisclosure level to both market indicators. However, this study finds that there is a difference in TVA between companies with comprehensive and non-comprehensive disclosure. These results lead to a conclusion that disclosure in the annual reports may still not be a matter of considerable interest and importance to investors. This study also finds that firm size and reported income affect disclosure level.]]>
<![CDATA[HUBUNGAN ANTARA INFORMASI ASIMETRI DAN PRAKTEK PERATAAN LABA DI INDONESIA ]]>
<![CDATA[Wasilah, Wasilah]]>
<![CDATA[ Jurnal Akuntansi dan Keuangan Indonesia Vol. 2, No. 1 ]]>
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<![CDATA[This paper conducts an empirical investigation about the relationship between information asymmetry and earnings management in Indonesia. When information asymmetry is high, the stakeholders do not have any information or resources to monitor and to know manager’s activities which give rise to the practice of earnings management. To provide evidence practices of earning managements and information asymmetry, this paper uses aggregate accruals with modified Jones model and market microstructure theory. This paper employs return volatility, trading volume and quotes price for bid ask spread to proxy in market microstructure. This paper employs generalized least squares with 60 firm balanced panel data in the 1994-199, and also addresses about the effect of Indonesian financial crisis to the relationship between information asymmetry and earnings management. We compare sub-sample before and in the financial crisis period. Empirical result suggests a positive relationship between information asymmetry as measured by bid ask spreads and the level of earnings management in Indonesia. This positive relationship is not affected by Indonesian financial crisis.]]>
<![CDATA[CORPORATE GOVERNANCE, INFORMATION ASYMMETRY, AND EARNINGS MANAGEMENT ]]>
<![CDATA[Siregar, Sylvia Veronica]]>;
<![CDATA[Bachtiar, Yanivi S.]]>
<![CDATA[ Jurnal Akuntansi dan Keuangan Indonesia Vol. 2, No. 1 ]]>
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<![CDATA[The purpose of this study is to investigate the relationship between corporate governance, information asymmetry, and earnings management. Prior research indicates that information asymmetry negatively correlated with earnings management (Richardson, 2001). As predicted, this study also found negative correlation between bid-ask spread, as a proxy of information asymmetry, and discretionary accruals, as a proxy of earnings management. In addition, we also test whether corporate governance mechanisms will impact the level of discretionary accruals and eventually affect firm value. We use several variables as proxies of corporate governance mechanisms such as institutional ownership, audit quality, independent board, and existence of audit committee. We found that audit committee has significant negative relation with discretionary accruals. This indicates that audit committee existence is effectively constraining the level of earnings management. This study also has that proportion of independent board and existence of audit committee increase the positive relationship between discretionary accruals and stock return. These indicates that earnings management conducted by firms having higher proportion of independent board and firms having audit committee will be valued higher by the market.]]>
<![CDATA[PENGARUH MEKANISME CORPORATE GOVERNANCE TERHADAP PERINGKAT SURAT UTANG PERUSAHAAN DI INDONESIA ]]>
<![CDATA[Setyaningrum, Dyah]]>
<![CDATA[ Jurnal Akuntansi dan Keuangan Indonesia Vol. 2, No. 2 ]]>
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<![CDATA[This research investigated whether corporate governance mechanism affects the firm 's bond rating in Indonesia. Specifically, investigation on whether corporate governance components, which are represented by ownership structure and influence, financial transparency and disclosure and board structure, affect the firm s bond rating. This research used several corporate governance mechanisms developed by Bursa Efek Jakarta and bond rating classification developed by Pefindo and Kasnic. Ordered logit model is selected to test the research problem. Using firm s characteristic as controlling variable, this research found that the firm s bond rating is: (1) negatively associated with the number o f block holders that own at least 5% ownership on the firm; (2) positively associated with percentage o f institutional ownerships; (3) positively associated with the size o f public accounting firm, and (4) positively associated with existence o f audit committee. The relationship between percentage o f insider, board size and percentage o f independent board with bond rating is not supported by empirical data.]]>
<![CDATA[EVIDENCE ON AUDIT COMMITTEE COMPOSITION AND AUDIT COMMITTEE EFFECTIVENESS AMONG LISTED COMPANIES IN THE JAKARTA STOCK EXCHANGE ]]>
<![CDATA[Utama, Siddharta]]>;
<![CDATA[Leonardo Z., F]]>
<![CDATA[ Jurnal Akuntansi dan Keuangan Indonesia Vol. 1, No. 2 ]]>
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<![CDATA[The purpose of this study is to provide empirical on audit committee composition and audit committee effectiveness (ACE), based on a survey of audit committees of publicly listed companies in the Jakarta Stock Exchange. The study finds that the majority of the companies comply with the JSX requirement about the minimum number of audit committee member (3 persons), their independence, and their competence (finance or accounting background). However, this study finds that audit committees are not yet effective in their authority, resources, and efforts. The interaction of audit committee with external auditors is the least effective while the communication to the board of commissioners and shareholders is the most effective. The interaction of audit committee with internal auditors and monitoring on compliance are also ineffective.]]>
<![CDATA[MODAL INTELEKTUAL ]]>
<![CDATA[Widiyaningrum, Ambar]]>;
<![CDATA[E., Hutabrini A.]]>
<![CDATA[ Jurnal Akuntansi dan Keuangan Indonesia Vol. 1, No. 1 ]]>
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<![CDATA[New types of business are growing. The number of information and technology industries is increasing. Assets from these industries consist of intangibles especially intellectual capitals. As one of the new breed of intangibles, intellectual capital has received great attention from the world-wide accounting communities. New standards and regulations has been developed and implemented. Still, the controversy is still going on. Many of the regulations still need further development as the environment keeps changing. Many accounting researchers have developed their own theories of intellectual capital. Some of them will be discussed further in this article. Some researchers believe that the current financial reporting system is not able to generate a financial statement that represents the actual condition of companies. The financial reporting system is said to fulfill only the needs of companies as a result of industrial revolution. This article will discuss further about intellectual capital and intangible assets from the theoretical and standards side. It will arouse the readers to make discussion about the treatment, valuation and measurement of intellectual capital. It may open our eyes to accept the dynamics of intangibles in the future.]]>
<![CDATA[HAK MINORITAS: KEWAJIBAN DAN EKUITAS ]]>
<![CDATA[Budi, Aisyah]]>
<![CDATA[ Jurnal Akuntansi dan Keuangan Indonesia Vol. 1, No. 1 ]]>
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<![CDATA[This article contains a brief discussion about the position of the minority’s interest in the balance sheet. There have been arguments about where to put minority interest in the balance sheet. There are three alternatives: in the liabilities, stockholders’ equity, or between liabilities and stockholders’ equity. These alternatives are based on two consolidation theories, parent company theory and entity theory. This article is expected to give a broader perspective and more knowledge about minority interest, a simple account on balance sheet that is less attractive. At the end of the article, the writer gives her own opinion and conclusion about the nature of the minority interest and the position in the balance sheet.]]>
<![CDATA[APLIKASI FORMULA PENILAIAN OPSI BLACK-SCHOLES UNTUK ESTIMASI NILAI CALL OPSI INDEKS SAHAM LQ-45 DI BURSA EFEK JAKARTA ]]>
<![CDATA[Baruno, Agung]]>;
<![CDATA[Sembel, Roy H. M.]]>
<![CDATA[ Jurnal Akuntansi dan Keuangan Indonesia Vol. 1, No. 2 ]]>
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<![CDATA[The objective of this research is to investigate the applicability of the Black-Scholes Option Pricing Model (BSOPM) on options on market index at the Jakarta Stock Exchange (JSX). A simulation is conducted using actual JSX LQ-45 index data between January 1997 and April 1999. Each month, a simulated premium of a one-month call option is calculated based on BSOPM and then compared with its payoff at its maturity date. The results show that the average profit of the simulated long stock index call option is negative but not statistically significant. It means that the BSOPM, although not rejectabie statistically, cannot be applied blindly on the valuation of JSX stock index options.]]>
<![CDATA[AKTIVA TAK BERWUJUD ]]>
<![CDATA[Lisvery, Saoria]]>;
<![CDATA[Ginting, Irma Yosephine]]>
<![CDATA[ Jurnal Akuntansi dan Keuangan Indonesia Vol. 1, No. 1 ]]>
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<![CDATA[Today, the world is facing a new era. The changing breeze keeps flowing to apprehend a new scheme of business. The new era of business and industry which now focus on information and technology are much more intangible to be measured. They are as well known as intellectual capitals. In addition, the level of business complexity has increased rapidly with the breaching development of intangible assets. Now, assets are valued based not only on their intrinsic beneficiary but also on the effects on the company. Goodwill has been much more familiar in the last decade than before as the merger & acquisition trends are spreading all over the world. A group of assets of a company has been valued more (or less) than its intrinsic value because of many factors. This residual value is treated and known as goodwill. As brand develops and become much stronger, it has its own value. As previously brand was not defined as tangible assets, we did even not know that it actually was an asset. As one of the components of new intangible assets, brand equity has put itself a mark on the financial statement of corporations. This article is intended to give deeper analysis on the development of intangible assets, especially on those described above. With a combination of theories from textbooks and standards, this article will give the readers a new understanding of what intangible asset are and therefore broaden our horizontal perspective in anticipating the arrival of new intangibles that may come, as the environment is still developing.]]>
