Governors
Governors is interdisciplinary in its scope and encourages submissions from any discipline or any part of the world which addresses any element of the aims of the journal. The journal encompasses the full range of theoretical, methodological, and substantive debates in the area of corporate governance and corporate social responsibility. Contributions which address the link between different disciplines and/or implications for societal, organizational, or individual behavior are especially encouraged.
Articles
21 Documents
Search results for
, issue
"Vol. 4 No. 1 (2025): April-July 2025 Issue"
:
21 Documents
clear
<![CDATA[Capital Structure and Financial Performance on Company Value with Profitability as an Intervening Variable ]]>
<![CDATA[Rima, Rima]]>;
<![CDATA[Lusiana, Lusiana]]>;
<![CDATA[Sari, Desi Permata]]>
<![CDATA[ GOVERNORS Vol. 4 No. 1 (2025): April-July 2025 Issue ]]>
Publisher : <![CDATA[Yayasan Cita Cendekiawan Al Khwarizmi ]]>
Show Abstract
|
Download Original
|
Original Source
|
Check in Google Scholar
|
DOI: 10.47709/governors.v4i1.5582
<![CDATA[This study aims to determine the influence of capital structure and financial performance on company value with profitability as an intervening variable in primary sector manufacturing companies listed on the Indonesia Stock Exchange (IDX) for the 2019-2023 period. The type of data used is quantitative data and the analysis used is multiple linear regression analysis and path analysis. The data was processed using SPSS 26. Based on the results of hypothesis; Partial capital structure does not have a significant effect on profitability.; Partial financial performance has a significant effect on profitability; Partial capital stucture has a significant effect on firm value; Partial financial performance has a significant effect on firm value; Partial profitability does not have a significant effect on firm value; Profitability as an intervening variable cannot mediate between capital structure and firm value; Profitability as an intervening variable cannot mediate between financial performance and firm value. It is hoped that this study can help manufacturing companies listed on the Indonesia Stock Exchange (IDX) to increase the value of the company by considering factors that have a significant effect on the value of the company such as capital structure and financial performance.]]>
<![CDATA[Investment Decisions, Funding Decisions On Company Value: Intervened by Profitability ]]>
<![CDATA[Eldiana, Nora Aprilia]]>;
<![CDATA[Sari, Desi Permata]]>;
<![CDATA[Wijaya, Ronni Andri]]>
<![CDATA[ GOVERNORS Vol. 4 No. 1 (2025): April-July 2025 Issue ]]>
Publisher : <![CDATA[Yayasan Cita Cendekiawan Al Khwarizmi ]]>
Show Abstract
|
Download Original
|
Original Source
|
Check in Google Scholar
|
DOI: 10.47709/governors.v4i1.5636
<![CDATA[This research aims to examine the influence of investment decisions and funding decisions on company value with profitability as an intervening variable in primary sector companies listed on the Indonesia Stock Exchange for the 2019-2023 period. The sample selection technique used purposive sampling to obtain 32 primary companies. The data analysis technique uses multiple regression analysis and path analysis using SPSS 26. Based on the results of the hypothesis, partial investment decisions have no significant effect on profitability, partial funding decisions have a significant effect on profitability, partial investment decisions have no significant effect on company value, partial funding decisions have no significant effect on company value, partial profitability has a significant effect on company value, investment decisions have a significant effect on company value through profitability as an intervening variable, funding decisions have a significant effect on company value through profitability as an intervening variable in primary sector companies, Consumer Non-Cylicals. registered on the IDX 2019-2023.]]>
<![CDATA[Financial Performance: The Role of Corporate Social Responsibility and Good Corporate Governance ]]>
<![CDATA[Dewi, I Gusti Ayu Ratih Permata]]>;
<![CDATA[Yuliana, Ni Made Mita]]>;
<![CDATA[Yoga, I Gusti Agung Prama]]>
<![CDATA[ GOVERNORS Vol. 4 No. 1 (2025): April-July 2025 Issue ]]>
Publisher : <![CDATA[Yayasan Cita Cendekiawan Al Khwarizmi ]]>
Show Abstract
|
Download Original
|
Original Source
|
Check in Google Scholar
|
DOI: 10.47709/governors.v4i1.5829
<![CDATA[This study will analyze the influence of Corporate Social Responsibility (CSR) and Good Corporate Governance (GCG) on the financial performance of companies listed on the IDX from 2021-2023. This study uses a quantitative and purposive sampling method, resulting in 69 samples from 23 companies. Secondary data was collected through documentation and analyzed using panel data regression. This study shows that CSR contributes positively but not significantly to financial performance. Then, the size of the board of directors and the audit committee in GCG contributes negatively but not significantly; finally, the board of commissioners contributes positively but not significantly to financial performance. Based on the results of the study, it is recommended that investors pay more attention to CSR disclosure as a consideration for investment. Companies are also expected to consistently carry out and report CSR and GCG activities even though they do not have a significant impact on profitability because this can increase investor confidence. For further research, adding other variables such as institutional ownership, managerial, and company size, as well as extending the research period and using more financial ratios to obtain more comprehensive results, is recommended.]]>
<![CDATA[External Pressure, Financial Target, Ineffective Monitoring and Rationalization on Financial Statement Fraud ]]>
<![CDATA[Suwandi, Eko Darmawan]]>
<![CDATA[ GOVERNORS Vol. 4 No. 1 (2025): April-July 2025 Issue ]]>
Publisher : <![CDATA[Yayasan Cita Cendekiawan Al Khwarizmi ]]>
Show Abstract
|
Download Original
|
Original Source
|
Check in Google Scholar
|
DOI: 10.47709/governors.v4i1.5830
<![CDATA[Fraud is an act of deception or error committed by a person or entity who knows that the error can result in some disadvantageous benefits for the individual or entity or other party. This study aims to examine the factors that influence financial statement fraud. The dependent variable studied in this study is Financial Statement Fraud. The independent variables in this study consist of external pressure, financial targets, ineffective monitoring, and rationalization. This type of research is quantitative research that tests the influence between hypothesized variables through the presentation of numerical data. The data used in this study are secondary data sourced from the financial statements of Infrastructure, Utility and Transportation companies listed on the Indonesia Stock Exchange in 2021-2023. The determination of the sample in this study was determined using the purposive sampling method. The analysis technique used in the study is multiple linear regression analysis with the help of the SPSS program. The results of this study indicate that external pressure, financial targets, and ineffective monitoring partially have a positive and significant effect on Financial Statement Fraud. While the rationalization variable does not affect Financial Statement Fraud.]]>
<![CDATA[Tax Aggressiveness: Transfer Pricing, Gender Diversity and Independent Commissioners’ Roles ]]>
<![CDATA[Pratama, Aliya]]>;
<![CDATA[Ristiyana, Rida]]>;
<![CDATA[Sani, Abdillah]]>
<![CDATA[ GOVERNORS Vol. 4 No. 1 (2025): April-July 2025 Issue ]]>
Publisher : <![CDATA[Yayasan Cita Cendekiawan Al Khwarizmi ]]>
Show Abstract
|
Download Original
|
Original Source
|
Check in Google Scholar
|
DOI: 10.47709/governors.v4i1.5831
<![CDATA[The focus of this study is to determine the impact of transfer pricing, gender diversity and independent commissioners on tax aggressiveness with company value as a mediating variable. A type of quantitative research using secondary data through the company's financial statements. The research population is multinational companies in the manufacturing sector listed on the Indonesia Stock Exchange for the 2018-2022 period. The sampling technique uses purposive sampling with a sample of 22 companies. The data analysis method uses panel data regression analysis processed with e-views software 13. The results of the simultaneous study of transfer pricing, gender diversity and independent commissioners have a significant impact on tax aggressiveness. The results of the study partially showed that independent commissioners had a positive and significant effect on company value, while transfer pricing and gender diversity had no effect on company value. On the other hand, gender diversity has a negative and significant effect on tax aggressiveness, while transfer pricing, independent commissioners, and company value have no effect on tax aggressiveness. The results of the mediation effect test show that the value of the company cannot mediate the influence of transfer pricing, gender diversity and independent commissioners on tax aggressiveness.]]>
<![CDATA[The Impact of Locus of Control on Budgetary Slack: Insights from The Literature Review ]]>
<![CDATA[Mirza. BR, Aryan Danil]]>
<![CDATA[ GOVERNORS Vol. 4 No. 1 (2025): April-July 2025 Issue ]]>
Publisher : <![CDATA[Yayasan Cita Cendekiawan Al Khwarizmi ]]>
Show Abstract
|
Download Original
|
Original Source
|
Check in Google Scholar
|
DOI: 10.47709/governors.v4i1.5869
<![CDATA[Budgetary slack is a prevalent issue in managerial accounting, often linked to individual behavioral tendencies. On the other hand, Locus of control has emerged as a significant factor influencing budgeting behavior. This study explores the relationship between locus of control and budgetary slack through a literature review approach. We Use Scopus, Web of Science and Google Scholar database using keyword “locus of control” and “budgetary slack”. The review indicates that individuals with an internal locus of control are generally less likely to create budgetary slack due to their intrinsic motivation, sense of responsibility, and goal alignment with the organization. In contrast, those with an external locus tend to manipulate budgets as a means of protection or strategic advantage, especially under conditions of uncertainty or perceived injustice. The study underscores the importance of integrating psychological insights into budgeting processes and suggests that organizations can mitigate dysfunctional budgeting behavior by fostering environments that support accountability, trust, and participation. Ultimately, this research contributes to the field of behavioral accounting by providing a theoretical foundation for understanding how personality traits interact with organizational controls to shape budgeting outcomes.]]>
<![CDATA[Indonesian Capital Market Reaction to Fed Interest Rate Cut in 2024 ]]>
<![CDATA[Saputri, Risma Andreliani]]>;
<![CDATA[Santoso, Fahrul Imam]]>
<![CDATA[ GOVERNORS Vol. 4 No. 1 (2025): April-July 2025 Issue ]]>
Publisher : <![CDATA[Yayasan Cita Cendekiawan Al Khwarizmi ]]>
Show Abstract
|
Download Original
|
Original Source
|
Check in Google Scholar
|
DOI: 10.47709/governors.v4i1.6013
<![CDATA[Capital markets are often influenced by global monetary policy, including changes in the Fed's interest rates. This decline in interest rates can affect investors' expectations of risk and return. This research aims to analyze the capital market reaction to the Fed's interest rate reduction by looking at differences in abnormal returns, trading volume activity, and bid-ask spread. The research objects in this study are energy sector companies listed on the Indonesia Stock Exchange with an estimation period of 100 days before the event and a research period of 11 days, consisting of 5 days before, during and 5 days after the event. This research uses the event study method with a sample of 29 companies selected through purposive sampling. Data analysis techniques include descriptive statistical analysis, Shapiro-Wilk normality test, and Wilcoxon Signed Rank Test hypothesis testing. The research results show that abnormal returns do not experience significant differences before and after the Fed’s interest rate cuts on September 18 and December 18, 2024, indicating that the market had possibly anticipated these monetary policy changes. However, a significant difference on November 7, 2024, suggests that the announcement on this date may have contained unexpected information, triggering a market reaction. Trading volume activity shows no significant differences for all three dates, implying that investor trading behavior remained relatively stable regardless of the policy changes. Similarly, the bid-ask spread shows no significant differences on September 18 and December 18, but a significant change on November 7 may indicate temporary changes in market liquidity or investor uncertainty.]]>
<![CDATA[Content Analysis of Sustainability Report in Indonesia’s Banking Sector ]]>
<![CDATA[Azizah, Muthia]]>;
<![CDATA[Widiyati, Dian]]>
<![CDATA[ GOVERNORS Vol. 4 No. 1 (2025): April-July 2025 Issue ]]>
Publisher : <![CDATA[Yayasan Cita Cendekiawan Al Khwarizmi ]]>
Show Abstract
|
Download Original
|
Original Source
|
Check in Google Scholar
|
DOI: 10.47709/governors.v4i1.5933
<![CDATA[Sustainability reporting is considered as one of the strategic tools for companies in order to demonstrate their environmental, social, and governance (ESG) responsibilities. In the banking sector, sustainability reports play an important role in complying with regulations and increasing transparency to stakeholders. The aim of this study is to analyze the completeness of sustainability report disclosures based on the 2021 Global Reporting Initiative (GRI) standards and compare the level of disclosure between banks based on the 2023 Asia Sustainability Reporting Rating (ASRRAT). The study used a content analysis method with a sample of seven banks from various categories of Bank Groups Based on Core Capital (KBMI). The results of the study show that all banks have followed the 2021 GRI standards, although there are variations in the completeness of disclosures on economic, environmental, and social aspects. In addition, banks with a Platinum rating have better disclosures than those with a Gold rating; especially, on the GRI standards for the financial services sector. This study provides a contribution in the form of policy suggestions for the Financial Services Authority (OJK) in order to improve supervision of sustainability reporting and align with international standards. Meanwhile, for banks, it is important to strengthen disclosures on material topics; such as, anti-competitive behavior and tax transparency, to improve the quality of reports and build stakeholder trust.]]>
<![CDATA[Earnings Per Share, Return on Equity, and Debt to Asset Ratio Related to Stock Prices ]]>
<![CDATA[Pratama, Anggara Bangun]]>;
<![CDATA[Kurnianingsih, Widiyanti]]>;
<![CDATA[Santoso, Fahrul Imam]]>
<![CDATA[ GOVERNORS Vol. 4 No. 1 (2025): April-July 2025 Issue ]]>
Publisher : <![CDATA[Yayasan Cita Cendekiawan Al Khwarizmi ]]>
Show Abstract
|
Download Original
|
Original Source
|
Check in Google Scholar
|
DOI: 10.47709/governors.v4i1.6303
<![CDATA[This study aims to empirically analyze the influence of Earnings Per Share (EPS), Return on Equity (ROE), and Debt to Asset Ratio (DAR) on the stock prices of companies in the financial sector listed on the Indonesia Stock Exchange (IDX). The research uses a quantitative approach with an explanatory design, applying multiple linear regression analysis to simulated panel data for the period 2021–2025. Data were obtained from secondary sources by simulating financial reports and stock prices that realistically reflect historical trends for 10 selected financial companies, resulting in 50 observations. The study employs standard data analysis techniques, including classical assumption tests (normality, multicollinearity, heteroscedasticity, and autocorrelation) to ensure that the model fulfills the BLUE (Best Linear Unbiased Estimator) criteria. The results indicate that EPS and ROE have a significant positive effect on stock prices, whereas DAR has a significant negative effect. The high coefficient of determination (R²) confirms that the model explains most of the variability in stock prices. These findings reaffirm that company profitability and equity management efficiency drive stock price appreciation, while an excessive capital structure relying on high debt can lower investor confidence. This study contributes to the existing literature by providing systematic empirical evidence and serves as a practical reference for investors and financial managers in making informed strategic decisions.]]>
<![CDATA[The Value Of Property Companies: Role Of Profitability, Leverage, And Liquidity ]]>
<![CDATA[Agistia, Irine]]>;
<![CDATA[Santoso, Fahrul Imam]]>
<![CDATA[ GOVERNORS Vol. 4 No. 1 (2025): April-July 2025 Issue ]]>
Publisher : <![CDATA[Yayasan Cita Cendekiawan Al Khwarizmi ]]>
Show Abstract
|
Download Original
|
Original Source
|
Check in Google Scholar
|
DOI: 10.47709/governors.v4i1.6327
<![CDATA[This study aims to analyze the effect of profitability, leverage and liquidity on the value of property companies listed on the Indonesia Stock Exchange during the 2020-2024 period. The population was 84 property and real estate companies listed on the Indonesia Stock Exchange. The sample obtained using purposive sampling was 12 companies with 5 years of data, resulting in a total of 60 sample data. All data analyses are conducted using statistical software such as SPSS. The results of the study show that each variable of profitability, leverage, and liquidity has a positive effect on company value. Profitability as measured by the net profit ratio, is proven to be the main factor that increases company value, reflecting the company's ability to generate sustainable profits. Leverage measured by the debt to equity ratio also shows a positive effect, indicating that wise use of debt can increase company value. Meanwhile, liquidity, measured by the current ratio, shows that companies with good liquidity are better able to meet short-term obligations, thereby increasing investor confidence. This study provides important insights for property company management in formulating effective financial strategies to increase company value. These findings also suggest the need for more attention to the management of these three variables to achieve sustainable growth in the property market.]]>
