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INDONESIA
Research of Accounting and Governance
Published by SAN Scientific
ISSN : 29858143     EISSN : 29858151     DOI : https://doi.org/10.58777/rag.v1i2
Core Subject : Economy,
Economics, Econometrics & Finance
The Research of Accounting and Governance (RAG) is an open-access journal that applies theory developed from accounting and corporate governance research to actual academic-business conditions. Recognizing the intricate relationships between the many areas of business activity, RAG examines various decisions, processes, and activities within the actual accounting and governance business setting. The Research of Accounting and Governance focuses on the main problems in developing the sciences of accounting, finance, risk, and corporate governance. Theoretical and empirical advances in research in financial accounting, managerial accounting, auditing & consulting, taxation, sharia accounting, financial management, corporate governance, Investment, banking and governance, risk and compliance (GRC), and ethics and professionalism in business are evaluated regularly
Arjuna Subject : Bisnis, Menejemen, dan Akutansi (semua kategori) - Bisnis, Menejemen, dan Akutansi (Lain-Lain)
Articles 41 Documents
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Employee Perception, Accounting Knowledge, JKP Contribution Management, BPJS Employment, Public Agency Ratnasari; Hurian Kamela
Research of Accounting and Governance Vol. 4 No. 1 (2026): JANUARY 2026
Publisher : Santoso Academy Network

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58777/rag.v4i1.494

Abstract

The Job Loss Guarantee (JKP) Program of the Social Security Administering Agency for Employment (BPJS Ketenagakerjaan) aims to provide social security to workers who lose their jobs. The purpose of this study was to examine the effect of accounting knowledge and workers' attitudes on JKP contribution management. The quantitative research methodology included a survey with 102 participants and the use of multiple linear regression and descriptive statistics. The results showed that Accounting Knowledge and Worker Perception had a significant and positive effect on JKP Contribution Management. Compared to accounting knowledge, worker perception had a greater influence. This enhances the effectiveness of the JKP program management and provides recommendations for the Social Security Agency for Workers (BPJS Ketenagakerjaan) in optimising social protection services for workers.
Environmental Management Systems, Firm Size, and Corporate Governance as Determinants of Carbon Emission Disclosure Ayushabrina, Fina; Sunarsih, Uun
Research of Accounting and Governance Vol. 4 No. 1 (2026): JANUARY 2026
Publisher : Santoso Academy Network

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58777/rag.v4i1.541

Abstract

This study examines the effects of Environmental Management System (EMS), firm size, institutional ownership, and the audit committee on carbon emission disclosure among energy sector companies listed on the Indonesia Stock Exchange during 2021–2024. Using a quantitative associative approach, secondary data from 33 firms selected through purposive sampling are analyzed, yielding 132 firm-year observations. Carbon emission disclosure is measured using a disclosure index; EMS is proxied by ISO 14001 certification; firm size by the natural logarithm of total assets; institutional ownership by the proportion of institutional shareholding; and the audit committee by the frequency of audit committee meetings. Panel data regression is conducted using EViews, with the fixed-effects model chosen based on model selection tests. The results indicate that EMS has a significant positive effect on carbon emission disclosure, suggesting greater transparency among firms with structured environmental management systems. Firm size also positively influences disclosure, reflecting higher public visibility and accountability. Institutional ownership significantly enhances disclosure through effective monitoring, while audit committee activity strengthens disclosure practices via improved oversight and governance. Overall, the findings highlight the importance of environmental management and corporate governance in improving sustainability reporting and supporting Indonesia’s transition toward a low-carbon economy.
Accounting Information, Digitalization, Intellectual Capital, and Stock Prices: The Moderating Role of CSR Astrianto, Diego Maret; Lovita, Erna
Research of Accounting and Governance Vol. 4 No. 1 (2026): JANUARY 2026
Publisher : Santoso Academy Network

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58777/rag.v4i1.543

Abstract

This study examines the effects of accounting information value relevance, digitalization disclosure, and intellectual capital on stock prices, with Corporate Social Responsibility (CSR) as a moderating variable. Using panel data from 17 Indonesian banking firms over 2021–2024 (68 firm-year observations), a fixed-effects regression model is employed to control for unobserved firm heterogeneity. The results indicate that earnings per share (EPS), price-to-book value (PBV), digitalization disclosure, and intellectual capital significantly influence stock prices (p < 0.05). Moderation analysis reveals that CSR strengthens the relationship between EPS and stock prices as well as between intellectual capital and stock prices, while the interaction effects of CSR with PBV and digitalization disclosure are not significant. These findings suggest that CSR does not uniformly enhance all value drivers. Model fit varies across specifications, highlighting the importance of robustness checks. Overall, the study shows that CSR enhances the market impact of profitability and intellectual resources, but not all accounting or digital signals. From a managerial perspective, firms should focus on sustaining high-quality earnings, developing intellectual capital, and integrating CSR strategically to improve market valuation.
How Company Growth Moderates the Determinants of Firm Value: A Panel MRA Study of Indonesian Banks, 2020–2024 Wardana, Atik Kusuma; Zulfiati, Lies
Research of Accounting and Governance Vol. 4 No. 1 (2026): JANUARY 2026
Publisher : Santoso Academy Network

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58777/rag.v4i1.544

Abstract

This study examines the effects of managerial ownership, firm size, and dividend policy on firm value, with company growth as a moderating variable, using panel data from banking firms listed on the Indonesia Stock Exchange during 2020–2024. Adopting a quantitative approach, secondary data from annual reports are analyzed using fixed-effects panel regression and Moderated Regression Analysis (MRA). Firm value is measured using a market-based valuation proxy, while managerial ownership, firm size, dividend policy, and company growth reflect governance structure, organizational scale, financial policy, and growth dynamics. The results show that managerial ownership and firm size have a positive and significant impact on firm value, whereas dividend policy has no significant effect. Moderation analysis indicates that company growth strengthens the relationship between managerial ownership and firm value and moderates the effect of firm size on firm value, but does not moderate the relationship between dividend policy and firm value. These findings suggest that growth-oriented banks are more effective in translating ownership alignment and organizational scale into higher market valuation and highlight the importance of ownership alignment, scale optimization, and sustainable growth strategies over dividend signaling.
Building Value Through Governance, Responsibility, and Sustainability Permata Dewi, Ines; Zulfiati, Lies
Research of Accounting and Governance Vol. 4 No. 1 (2026): JANUARY 2026
Publisher : Santoso Academy Network

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58777/rag.v4i1.547

Abstract

This study aims to examine whether the Independent Board of Commissioners, Board of Directors, CSR, and environmental performance influence company value. This study uses a quantitative research method with an associative approach. The population of this study is manufacturing companies listed on the Indonesia Stock Exchange for the 2021–2024 period. The sample was selected using a purposive sampling method and comprised 31 companies, yielding 124 observations. The results of this study show that the Independent Board of Commissioners has a negative influence on company value, as indicated by a negative coefficient. The Board of Directors' influence on company value is accepted. The influence of CSR on company value is accepted. The higher the intensity and quality of a company's CSR activities, the greater the value reflected in investors' and other stakeholders' perceptions. The influence of environmental performance on company value is accepted. The managerial implications of this study indicate that companies need to strengthen substantive implementation of GCG, not just formal compliance.
The Role of Good Corporate Governance in Moderating the Impact of Capital and Credit on Firm Value: Evidence from Indonesian Banks Zaldin, Asri; Khomsiyah
Research of Accounting and Governance Vol. 4 No. 1 (2026): JANUARY 2026
Publisher : Santoso Academy Network

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58777/rag.v4i1.578

Abstract

This study investigates the effect of credit and capital on firm value, with corporate governance (CG) disclosure as a moderating variable, in banking companies listed on the Indonesia Stock Exchange (IDX). Using secondary data from Banks’ published financial statements over the period 2016–2021, this research applies Moderated Regression Analysis (MRA) to test the proposed hypotheses. The results show that capital has a positive and significant effect on firm value, while the loan-to-deposit ratio (LDR) does not significantly influence firm value. Furthermore, CG disclosure strengthens the relationship between capital and firm value, indicating that governance transparency enhances the signaling effect of capital to the market. However, CG disclosure does not moderate the relationship between LDR and firm value. This study is subject to certain limitations. Although the inclusion of 2022 financial statements was initially planned, incomplete reporting restricted the sample to banks with available data for the 2016–2021 period. In addition, the analysis is limited to banking firms listed on the IDX. CG disclosure data were obtained through content analysis in accordance with regulations issued by the Indonesian Financial Services Authority (OJK). Despite these limitations, the findings contribute to the literature on banking governance and firm value in emerging markets.
Applied Value at Risk in the South East Asia Stock Market, Does it Work? Hendrawan, Riko
Research of Accounting and Governance Vol. 4 No. 1 (2026): JANUARY 2026
Publisher : Santoso Academy Network

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58777/rag.v4i1.580

Abstract

This study uses historical data to calculate VaR, a widely accepted approach due to its simplicity and empirical basis (Olson & Wu, 2017), in the Southeast Asian stock market. The results show that the index with the highest VaR value at the 1% confidence level is the Hanoi Stock Exchange Index from Vietnam. High VaR values ​​in these indices reflect the potential for significant losses in a worst-case scenario. The study also shows that the VaR value increases with the confidence level. This means that, at a higher confidence level, for example, 1%, the VaR value will be greater than at 5% or 10%. A higher confidence level reflects a desire to account for more extreme and rare scenarios. By considering the study period, which includes financial crises such as the 2008 crisis and the COVID-19 pandemic, this study provides relevant insights for investors on the dynamics of risk and return in Southeast Asian stock markets. This study emphasizes the importance of using VaR as a risk management tool to help investors make more informed, prudent investment decisions.
Strengthening Tax Compliance through Good Public Governance Sari, Imelda; Hasan, Nida Nadya
Research of Accounting and Governance Vol. 4 No. 1 (2026): JANUARY 2026
Publisher : Santoso Academy Network

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58777/rag.v4i1.581

Abstract

This study examines the effects of taxpayer knowledge and changes in tax regulations on individual taxpayer compliance, with good public governance as a mediating variable. Despite the widespread implementation of the self-assessment system, taxpayer compliance remains a persistent challenge, particularly amid frequent regulatory changes and varying governance quality. Using a quantitative approach, this study involved 100 individual taxpayers registered at the Kemayoran Pratama Tax Office in Jakarta, selected through incidental sampling. Data were collected via questionnaires and analyzed using Partial Least Squares (PLS) with SmartPLS 4.1.9. The results indicate that taxpayer knowledge has a positive and significant effect on compliance, while changes in tax regulations have a significant negative effect. However, both taxpayer knowledge and regulatory changes positively influence good public governance, which in turn significantly enhances taxpayer compliance. Furthermore, good public governance mediates the relationship between taxpayer knowledge and compliance, as well as between regulatory changes and compliance, mitigating the adverse effects of regulatory complexity. These findings contribute to tax compliance literature by highlighting the critical mediating role of governance quality. From a policy perspective, strengthening transparent, consistent, and well-communicated governance frameworks is essential to improving voluntary tax compliance and supporting sustainable revenue mobilization.
Ethical Taxation Through Governance and CSR: Evidence from Indonesian Firms Nurul Hatari Awalia; Uun Sunarsih
Research of Accounting and Governance Vol. 4 No. 2 (2026): JULY 2026
Publisher : Santoso Academy Network

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58777/rag.v4i2.556

Abstract

This study examines the influence of independent boards of commissioners, boards of directors, audit committees, and Corporate Social Responsibility (CSR) on tax avoidance in manufacturing companies listed on the Indonesia Stock Exchange during 2021–2024. The research addresses inconsistent findings regarding the effectiveness of corporate governance and CSR in reducing tax avoidance. Manufacturing firms were selected due to their complex operations, high tax exposure, and significant contribution to Indonesia’s economy. A quantitative associative approach was employed. Using purposive sampling, 53 companies were selected, generating 212 firm-year observations. Secondary data from annual financial and sustainability reports were analyzed using panel regression with EViews. The results show that independent boards of commissioners do not significantly affect tax avoidance, indicating that their monitoring role has not been fully effective in preventing opportunistic tax behavior. In contrast, boards of directors, audit committees, and CSR significantly influence tax avoidance, suggesting that stronger governance mechanisms and greater social responsibility can reduce aggressive tax practices and improve tax compliance. This study contributes to agency and legitimacy theories by emphasizing the importance of effective governance and ethical responsibility in mitigating tax avoidance and promoting sustainable corporate practices.
Corporate Governance and Tax Avoidance: Moderating Effects of Institutional Ownership in Indonesia’s Energy Sector Septiana Ferdiansyah; Lies Zulfiati
Research of Accounting and Governance Vol. 4 No. 2 (2026): JULY 2026
Publisher : Santoso Academy Network

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58777/rag.v4i2.562

Abstract

This study examines the effects of profitability, thin capitalization, and Corporate Social Responsibility (CSR) on tax avoidance, as well as the moderating role of institutional ownership in energy sector companies listed on the Indonesia Stock Exchange during 2021–2024. The energy sector was selected due to its capital-intensive nature, environmental impact, and high regulatory scrutiny regarding tax transparency. This study also addresses inconsistent findings in previous research concerning the determinants of tax avoidance and the effectiveness of institutional ownership as a governance mechanism. Using a quantitative associative approach, the research employed secondary data obtained from annual financial reports. Purposive sampling was used to select 30 companies, resulting in 120 firm-year observations. Data were analyzed using panel regression and moderation analysis in EViews. The results show that profitability has a significant negative effect on tax avoidance, indicating that more profitable firms tend to demonstrate greater tax compliance. Thin capitalization has a significant positive effect on tax avoidance, suggesting that debt financing encourages tax-minimization strategies through interest expense utilization. CSR reduces tax avoidance, while institutional ownership significantly moderates the relationships between profitability, thin capitalization, CSR, and tax avoidance by enhancing oversight and limiting opportunistic managerial behavior.

Page 4 of 5 | Total Record : 41

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