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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 198 Documents
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Credit Spread Risk in the Banking Book and Treasury Stability: Evidence from Indonesian Banks Ahmad Wimbo Helvianto; Fajar Ciputra Daeng Bani; Andini Ginanti Tuzzahra
Riset Akuntansi dan Keuangan Indonesia Vol. 11 No. 2 (2026): Riset Akuntansi dan Keuangan Indonesia
Publisher : Universitas Muhammadiyah Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/reaksi.v11i2.17166

Abstract

This study examines the effect of Credit Spread Risk in the Banking Book (CSRBB) on treasury stability and investigates the moderating role of audit within the Indonesian banking sector. Using panel data from major banks over the period 2021–2025, this research applies pooled ordinary least squares (OLS), fixed effect, and moderated regression analysis to provide comprehensive empirical evidence. The results show that CSRBB has a negative and statistically significant effect on treasury stability in the pooled OLS model, indicating that higher credit spread risk reduces the stability of banking treasury performance. However, this effect becomes insignificant when bank specific heterogeneity is controlled using the fixed effect model, suggesting that the impact of CSRBB is largely driven by cross sectional differences across banks rather than within bank variations over time. Furthermore, the findings reveal that bank specific characteristics play a dominant role in explaining treasury stability, with certain banks demonstrating significantly higher performance than others. The moderated regression analysis indicates that audit does not significantly moderate the relationship between CSRBB and treasury stability, implying that governance mechanisms, as proxied by audit, are not sufficiently effective in influencing risk performance dynamics. Overall, this study highlights the importance of internal bank characteristics and risk management practices in determining treasury stability, while the role of CSRBB and audit appears to be conditional and context dependent. The findings provide important implications for banking institutions and regulators in enhancing risk management frameworks and governance effectiveness.
Revisiting Agency and Signaling Theories: Evidence from Non-GAAP Measures, R&D Expenditures, and Firm Value in Southeast Asia Hikmahwati Hikmahwati; Noor Romy Rahwani; Widya Ais Sahla; Angela Tan-Kantor
Riset Akuntansi dan Keuangan Indonesia Vol. 11 No. 2 (2026): Riset Akuntansi dan Keuangan Indonesia
Publisher : Universitas Muhammadiyah Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/reaksi.v11i2.17397

Abstract

This research explores whether Non-GAAP disclosure and R&D expenditure contribute to firm value through financial reporting transparency in emerging markets in Southeast Asia. The study uses panel data from 29 publicly listed companies in Indonesia, Malaysia, Singapore, Thailand, Vietnam, and the Philippines during 2020–2024. Data were analyzed using the PLS-SEM method. The results indicate that Non-GAAP disclosure and R&D expenditure do not show a significant relationship with transparency or firm value. Financial reporting transparency also does not mediate these effects. These findings imply that the relevance of agency and signaling theories may vary depending on institutional settings and market conditions in emerging economies.
Green Accounting, Environmental Performance, and Green Innovation: Do Governance Mechanisms Matter for Corporate Profitability? Diah Septya Rini; Nabila Na'ma Aisa; Siti Fatimah Mohd Kassim
Riset Akuntansi dan Keuangan Indonesia Vol. 11 No. 2 (2026): Riset Akuntansi dan Keuangan Indonesia
Publisher : Universitas Muhammadiyah Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/reaksi.v11i2.18450

Abstract

This study examines the effects of green accounting, environmental performance, green process innovation, and green product innovation on corporate profitability, with Good Corporate Governance (GCG), proxied by managerial ownership, as a moderating variable. Using a quantitative approach, the study analyzes secondary data from annual and sustainability reports of 85 companies listed on the Indonesia Stock Exchange (IDX) and participating in the PROPER program during 2020–2024, resulting in 403 firm-year observations. The hypotheses were tested using panel data regression and Moderated Regression Analysis (MRA) with the Fixed Effects Model. The results indicate that green accounting and environmental performance do not significantly affect profitability. Green process innovation has a significant negative effect, while green product innovation has a significant positive effect on profitability. Furthermore, managerial ownership strengthens the positive effect of green accounting, strengthens the negative effect of green process innovation, weakens the positive effect of green product innovation, and does not moderate the relationship between environmental performance and profitability.
Assessing Islamic Bank Health and Its Impact on the Green Economy: A Maqasid Sharia Approach in Indonesian Islamic Commercial Banks Mukti Prasaja; Ulfa Rahmawati; Aan Nurrohman; Hawin Alaina
Riset Akuntansi dan Keuangan Indonesia Vol. 11 No. 2 (2026): Riset Akuntansi dan Keuangan Indonesia
Publisher : Universitas Muhammadiyah Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/reaksi.v11i2.18817

Abstract

This study aims to analyze the impact of Islamic bank health assessments on the green economy through a Maqasid Sharia approach. The method employed is a quantitative approach, with the population comprising Islamic Commercial Banks (BUS) in Indonesia from 2020 to 2024. Furthermore, sample selection was conducted using purposive sampling. The data analysis technique utilizes panel data regression to simultaneously analyze cross-company and time-series data variations. The dependent variable, green economy, is measured using Maqasid Sharia, then the independent variable, Islamic bank health, is divided into two elements: the financial aspect—with indicators comprising risk, governance, earnings, and capital—and the Sharia concept aspect, indicated by Sharia investment and profit-sharing income. The results of the study show that the variables of Good Corporate Governance, Capital, and Sharia Compliance have a significant impact on the green economy. Meanwhile, the risk profile and earnings variables show no effect. Additionally, the moderating variable SEOJK No. 16 of 2021 does not provide any significant effect in strengthening or weakening the relationship between the variables.
Efficiency, Risk, and Fintech as Indonesian Bank Profitability Drivers Himmatul Kholidah; Evita Nur Haliza; Norzahidah Binti Yacob; Mochammad Nurul; Muhammad Raisa Haqqiquddin Rokhmatulloh; Hanifiyah Yuliatul Hijriah; Hanif Fadhlillah
Riset Akuntansi dan Keuangan Indonesia Vol. 11 No. 2 (2026): Riset Akuntansi dan Keuangan Indonesia
Publisher : Universitas Muhammadiyah Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/reaksi.v11i2.18987

Abstract

Bank profitability is essential to financial intermediation and financial system stability, particularly in emerging economies undergoing rapid digital transformation. This study examines the associations of bank-specific factors, market structure, macroeconomic conditions, and fintech lending with the profitability of ten major Indonesian banks from 2018 to 2024. Annual panel data are analyzed using the one-step System Generalized Method of Moments. Bank profitability is measured using Return on Average Assets, Return on Average Equity, Net Interest Margin, Risk-Adjusted Return on Average Assets, and Risk-Adjusted Return on Average Equity. The findings indicate that the cost-to-income ratio is negatively associated with all five profitability measures, highlighting the importance of management efficiency. Credit risk, liquidity, income diversification, market concentration, inflation, and long-term interest rates exhibit different associations across conventional and risk-adjusted measures. Fintech lending is negatively associated with Net Interest Margin and both risk-adjusted profitability measures. These findings demonstrate that conventional and risk-adjusted indicators provide distinct perspectives on bank performance. Bank managers should therefore strengthen operational efficiency, credit risk management, and liquidity management while developing appropriate strategies to respond to increasing competition from fintech lending.
Beyond System Use: Evaluating Core Banking System Utilization in Indonesian Islamic Rural Banks Aviandi Okta Maulana; Abeer Abdullah Zaylaie
Riset Akuntansi dan Keuangan Indonesia Vol. 11 No. 2 (2026): Riset Akuntansi dan Keuangan Indonesia
Publisher : Universitas Muhammadiyah Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/reaksi.v11i2.19350

Abstract

This study evaluates the utilization of the Core Banking System (CBS) in Islamic Rural Banks to support accountability and Islamic banking business activities. Using the Technology-Organization-Environment (TOE) framework, the study examines IT Maturity, IT Infrastructure, Data Quality, IT Human Resource, and Competitive Pressure. Using a convergent mixed-methods design, data were collected from 13 respondents representing 13 BPRS in Indonesia through Likert-scale items and open-ended questions. The quantitative data were analyzed using descriptive statistics, while the qualitative data were analyzed thematically and integrated at the interpretation stage. The results show that all TOE dimensions received relatively high evaluations, with IT Maturity obtaining the highest score, followed by Data Quality, IT Human Resource, IT Infrastructure, and Competitive Pressure. The qualitative findings indicate that CBS utilization is perceived not merely as the use of an operational tool, but as a core infrastructure that supports transactions, information quality, reporting, compliance, and governance within BPRS. The effectiveness of CBS utilization depends on continuous system development, the quality of data input, system integration, IT human resource competence, and the management of vendor support. These findings underscore the importance of internal readiness in sustaining CBS utilization in BPRS.
When Does Media Exposure Matter for Firm Value? A Johnson-Neyman Analysis of Green Innovation and Environmental Performance Nur Prasetyo Aji; Ovi Itsnaini Ulynnuha; Ainun Fadhila Azzahra; Nurlita Arum S; Abdul Conteh
Riset Akuntansi dan Keuangan Indonesia Vol. 11 No. 2 (2026): Riset Akuntansi dan Keuangan Indonesia
Publisher : Universitas Muhammadiyah Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/reaksi.v11i2.20399

Abstract

This study investigates the effects of green innovation and environmental performance on firm value and examines the moderating role of media exposure. Using 417 firm-year observations, data were analyzed using moderated regression with SPSS PROCESS Macro Model 1 and the Johnson-Neyman technique. Results show that green innovation negatively affects firm value, while environmental performance has no significant effect. Media exposure significantly weakens the negative effect of green innovation, whereas it does not moderate the relationship between environmental performance and firm value. The Johnson-Neyman analysis confirms that the negative effect of green innovation becomes insignificant at higher levels of media exposure.
Examining The Role of Foreign Ownership and Media Exposure in Environmental Performance: Evidence from Indonesia Nandya Octanti Pusparini; Handy Nugraha; Santi Putriani
Riset Akuntansi dan Keuangan Indonesia Vol. 11 No. 2 (2026): Riset Akuntansi dan Keuangan Indonesia
Publisher : Universitas Muhammadiyah Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/reaksi.v11i2.20482

Abstract

This study aims to examine the effect of foreign ownership on environmental performance and to analyze the role of media exposure as a moderating variable. Foreign ownership is regarded as a governance mechanism capable of promoting corporate transparency and accountability, whereas media exposure is presumed to intensify the legitimacy pressure faced by firms. This study employs a sample of 74 firm-year observations from basic materials sector companies actively listed on the Indonesia Stock Exchange (IDX) during the 2022-2024 period. The sample was selected using a purposive sampling method. Data were analyzed using multiple regression and Moderated Regression Analysis (MRA) with SPSS. The results show that foreign ownership has a positive and significant effect on environmental performance. The moderation test results reveal that media exposure weakens the positive relationship between foreign ownership and environmental performance, indicating a substitutive relationship between the two monitoring mechanisms. These findings provide theoretical contributions to the literature, particularly the ESG and corporate governance literature, as well as practical implications for investors, management, and regulators in formulating strategies to improve corporate environmental performance.

Page 20 of 20 | Total Record : 198

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