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Riset Akuntansi dan Keuangan Indonesia
Published by Universitas Muhammadiyah Surakarta
ISSN : 14116510     EISSN : 25416111     DOI : https://www.doi.org/10.23917/reaksi.v8i3
Core Subject : Economy,
Economics, Econometrics & Finance
Research in Accounting and Finance Indonesia focusing on various themes, topics, and the accounting and financial aspects, including (but not limited) to the following topics: Public sector accounting Management accounting Islamic accounting Financial management Auditing Corporate Governance (Corporate Governance) Behavioral Accounting (Including Ethics and Professionalism) Accounting Education (Ethics) Taxation Theory of Investment and Capital Markets Accounting Banking and Insurance Accounting information system Sustainability reporting (Sustainability Reporting)
Arjuna Subject : Bisnis, Menejemen, dan Akutansi (semua kategori) - Akuntansi
Articles 189 Documents
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The Effectiveness of Internal Audit Office’s Roles: Evidence from Indonesia’s State-Owned University Wulandari, Eva; Rusdi Akbar
Riset Akuntansi dan Keuangan Indonesia Vol. 11 No. 1 (2026): Riset Akuntansi dan Keuangan Indonesia
Publisher : Universitas Muhammadiyah Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/reaksi.v11i1.13232

Abstract

This study investigates the factors influencing the effectiveness of Internal Audit Office (IAO) in State-Owned University (SOU) in Indonesia. An explanatory sequential mixed method was employed on the data collected from the chairperson or members of the IAO and also management of 31 SOU in Indonesia. PLS-SEM is utilized to analyze the effect of independence, competence, management support, and the relationship between internal and external auditors on the effectiveness of the Internal Audit (IA). Thematic content analysis was used to map the results of interviews with selected participants to explain how the factors affect the effectiveness of the IA. The test results show that competence, management support, and the relationship between internal and external auditors have a significant positive effect on the effectiveness of IA, while independence has no significant effect. The practice of IA at SOU shows the existence of coercive isomorphism in the presence of rules governing the formation and tasks of IA. The existence of encouragement from professional organizations to certify internal auditors in SOU shows the existence of normative isomorphism.
Uncovering the Relationship Between Audit Opinion, Financial Performance on Firm Value. Ulfa, Yessy Naila; Rahmawati; Junaid M.Shaikh
Riset Akuntansi dan Keuangan Indonesia Vol. 11 No. 1 (2026): Riset Akuntansi dan Keuangan Indonesia
Publisher : Universitas Muhammadiyah Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/reaksi.v11i1.14410

Abstract

This study examines the relationship between financial performance, audit opinions, and firm value, with a focus on understanding how audit opinions mediate this relationship. Drawing on a sample of firms listed on the Indonesia Stock Exchange (IDX) between 2018 and 2023, the study employs Structural Equation Modeling with Partial Least Squares (SEM-PLS) to analyze the proposed relationships. The findings reveal that while financial performance does not directly impact firm value, it is strongly positively associated with audit opinions, suggesting that better financial performance reduces agency risks and increases the likelihood of favorable audit outcomes. Audit opinions, in turn, are significantly associated with firm value, highlighting their role in enhancing investor confidence and the credibility of financial information. However, the mediating role of audit opinions in the relationship between financial performance and firm value was determined to be statistically insignificant, indicating that other factors also contribute to firm valuation. The study concludes that both financial performance and audit opinion significantly influence firm value, emphasizing the importance of considering both financial and non-financial factors in corporate valuation. The findings underscore the complexity of firm value determinants and provide insights into the interplay between financial performance, audit opinions, and market valuation in emerging markets.
ESG Resilience Under Geopolitical Turbulence : Digital Infrastructure As A Moderator of Global Risks and Local Political Networks in Indonesia Basri, Basri; Sunaryati, Sunaryati
Riset Akuntansi dan Keuangan Indonesia Vol. 11 No. 1 (2026): Riset Akuntansi dan Keuangan Indonesia
Publisher : Universitas Muhammadiyah Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/reaksi.v11i1.15794

Abstract

This study examines how digital infrastructure strengthens the ESG resilience of Indonesian firms facing geopolitical risks and political network dynamics. Analyzing 89 IDX-listed companies (2016–2023) using dynamic panel regression reveals three findings. Geopolitical Risk undermines ESG performance, though state-owned enterprises show greater resilience due to resource access, remaining politically vulnerable. Political Connections have no significant effect, indicating a short-term interest focus over sustainability. Digitalization directly enhances ESG performance and moderates the negative impact of geopolitical risk by boosting transparency and signaling. Robustness checks with 2SLS confirm the results. The study highlights digital infrastructure as a vital strategic tool for mitigating geopolitical risk and promoting sustainable corporate practices.
Evaluation of Coretax Implementation Using A Modified Delone & Mclean Model Based on Indonesian Taxpayers Perspective Chumairo, Afiifatul; Mohammad Khoiru Rusydi; Noval Adib
Riset Akuntansi dan Keuangan Indonesia Vol. 11 No. 1 (2026): Riset Akuntansi dan Keuangan Indonesia
Publisher : Universitas Muhammadiyah Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/reaksi.v11i1.16247

Abstract

This study evaluates Indonesia’s Coretax implementation from taxpayers’ perspectives using a modified DeLone and McLean IS Success Model integrating trust in government and government support. A quantitative online survey of 184 individual and corporate taxpayers was analyzed using PLS-SEM to assess measurement validity and mediation effects. The results show that system quality, service quality, and government support significantly increase net benefits through user satisfaction. However, information quality and trust in government do not significantly affect net benefits via satisfaction. These findings highlight the importance of system stability, responsive support, and sustained government facilitation to maximize implementation benefits.
The Moderating Role of Green Accounting on Sustainability Reporting in Indonesian Manufacturing Hidayat, Imam; Petty Aprilia Sari; Sazali Zainal Abidin
Riset Akuntansi dan Keuangan Indonesia Vol. 11 No. 1 (2026): Riset Akuntansi dan Keuangan Indonesia
Publisher : Universitas Muhammadiyah Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/reaksi.v11i1.16302

Abstract

This study seeks to examine the impact of stakeholder pressure, corporate governance, and digital innovation on sustainability reporting, with green accounting acting as a moderating variable in manufacturing firms listed on the Indonesia Stock Exchange. The research covers a three-year period from 2022 to 2024, with the study population consisting of all manufacturing companies listed during that time. Using purposive sampling, 41 companies met the criteria and were selected as the sample. The study relies on secondary data sourced from the Indonesia Stock Exchange website, and the analysis was conducted using Moderated Regression Analysis. The findings indicate that creditor pressure, shareholder pressure, audit committees, independent commissioners, boards of directors, and digital innovation collectively affect sustainability reporting, while green accounting is capable of moderating the relationship between these independent variables and sustainability reporting. On a partial basis, creditor pressure, shareholder pressure, and the board of directors demonstrate a positive and significant effect on sustainability reporting, whereas audit committees, independent commissioners, and digital innovation show no effect. Moreover, green accounting is found to moderate the role of independent commissioners on sustainability reporting, but it does not moderate the effects of creditor pressure, shareholder pressure, audit committees, boards of directors, or digital innovation.
Pressure from Parent Entity Owners and Non-Controlling Interests Stimulates Management to Income Smoothing: Evidence from Asia Kusuma, Marhaendra Kusuma; Fazlinda Binti Ab Halim; Fahad Hari Putra Maulana; Sanju Kumar Singh; Mariano Nunes
Riset Akuntansi dan Keuangan Indonesia Vol. 11 No. 1 (2026): Riset Akuntansi dan Keuangan Indonesia
Publisher : Universitas Muhammadiyah Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/reaksi.v11i1.16363

Abstract

This study examines effect of pressure from parent entity owners (PEO) and non-controlling interest (NCI) on income smoothing and the moderating role of independent commissioners. Observational data from 2,740 firm-years of publicly traded companies in 12 Asian countries during 2021–2025 are used. The results support agency theory and fraud triangle theory, indicating that pressure from PEOs and NCIs significantly drives income smoothing practices, while the effectiveness of independent commissioners can mitigate the influence of both pressures. This study offers an original contribution by disaggregating shareholder pressure by ownership type (PEOs and NCIs) and the moderating role of independent oversight.
Ownership Concentration and Asset Risk-Return Profiles : A Quantitative Study of Systematic and Idiosyncratic Risks Nainggolan, Rexon; Montebon, Clarijun Quimada
Riset Akuntansi dan Keuangan Indonesia Vol. 11 No. 1 (2026): Riset Akuntansi dan Keuangan Indonesia
Publisher : Universitas Muhammadiyah Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/reaksi.v11i1.16722

Abstract

This study investigates the complex relationships between ownership concentration and asset risk-return profiles. Using a quantitative methodology, the research employs a market model framework and Ordinary Least Squares (OLS) regression to analyze data from publicly listed companies. The analysis quantifies how shareholding distribution influences key financial metrics, including expected excess returns (alpha), systematic risk sensitivity (beta), and stock volatility. The novelty of this research lies in its distinction from previous econometric studies by integrating ownership structure analysis directly into foundational market model metrics, providing a new lens through which to view the interplay between governance and firms’ risk-returns profiles. The study findings demonstrates that ownership concentration significantly shapes asset risk-return profiles. The result reveals a positive correlation between con-centrated ownership and superior risk-adjusted performance (Alpha), driven by reduced agency costs and strategic oversight. While the impact on systematic risk (Beta) is often secondary to macroeconomic factors, the data indicates a stabilizing effect where higher concentration reduces idiosyncratic volatility. Furthermore, the study identifies a low-beta anomaly, suggesting that firms generating higher alpha do not necessarily carry increased market risk. These insights contribute to the discourse on modern financial markets by highlighting internal governance as a critical mediator of asset behavior, offering valuable guidance for investment strategies and corporate governance decisions.
Digital Transformation: Fintech Moderation on the Relationship between Intellectual Capital, Liquidity, and Credit Risk on Financial Performance Triyono, Triyono; Andy Dwi Bayu Bawono; Angling Khrisna Adhi
Riset Akuntansi dan Keuangan Indonesia Vol. 11 No. 1 (2026): Riset Akuntansi dan Keuangan Indonesia
Publisher : Universitas Muhammadiyah Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/reaksi.v11i1.17040

Abstract

This study aims to examine the effect of intellectual capital, credit risk, and liquidity on financial performance, with financial technology as a moderating variable in conventional banking companies in Indonesia. This research is based on the Resource-Based View, which emphasizes the importance of managing internal resources to achieve competitive advantage. The population characteristics of conventional commercial banks listed on the Indonesia Stock Exchange during the 2020–2024 period. Using purposive sampling, 22 banks were selected, resulting in 110 observations. The data were analyzed using multiple linear regression and moderated regression analysis with EViews 12. The results indicate that intellectual capital has a positive and significant effect on financial performance, while liquidity has a negative and significant effect. Meanwhile, credit risk does not significantly affect financial performance. Furthermore, financial technology is proven to strengthen the relationship between intellectual capital and financial performance. However, financial technology is not able to moderate the relationship between credit risk and liquidity on financial performance. These findings suggest that in the digital transformation era, optimizing intellectual capital supported by financial technology is crucial in improving banking performance. This study contributes to the literature by integrating internal resources and digital transformation in explaining financial performance
Driving Green Innovation in Emerging Markets: The Impact of Commissioners’ Monitoring Competence With Audit Quality and Environmental Regulatory Pressure as Moderators Adi, Suyatmin Waskito; Wijayanti, Rita
Riset Akuntansi dan Keuangan Indonesia Vol. 11 No. 1 (2026): Riset Akuntansi dan Keuangan Indonesia
Publisher : Universitas Muhammadiyah Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/reaksi.v11i1.17398

Abstract

This study aims to examine the effect of commissioners’ monitoring competence on green innovation, as well as the moderating roles of audit quality and environmental regulatory pressure (PROPER). Using a quantitative approach with panel data from Indonesian basic materials companies during 2020–2024, the study employs panel regression analysis. The results show that commissioners’ monitoring competence positively affects green process innovation and marginally affects green product innovation. PROPER significantly enhances both types of green innovation, while audit quality strengthens the relationship between monitoring competence and green innovation. These findings highlight the importance of governance and external pressure in promoting sustainable innovation.

Page 19 of 19 | Total Record : 189

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