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Astri Ayu Purwati
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Research in Accounting Journal
Published by Yayasan Riset dan Pengembangan Intelektual
ISSN : 27157881     EISSN : 27157873     DOI : -
Core Subject : Economy,
Economics, Econometrics & Finance
Reseach In Accounting Journal (RAJ) reviewed covers theoretical and applied research in the field of Accounting and Finance. Priority is given to those articles which satisfy the main scope of the journal, and have an impact in the research areas of interest. The RAJ Journal is intended to be the journal for publishing articles reporting the results of research in the areas : Financial Accounting, Cost Accounting, Management Accounting, Auditing, Tax, Accounting System Information, Islamic Principal Accounting Public Sector Accounting The acceptance decision is made based upon an independent review process that provides critically constructive and prompt evaluations of submitted manuscripts.
Arjuna Subject : Bisnis, Menejemen, dan Akutansi (semua kategori) - Akuntansi
Articles 63 Documents
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Intersectoral Event Study Analysis on the Indonesia Stock Exchange Regarding the 2025 Replacement of the Minister of Finance of the Republic of Indonesia Ade Ria Nirmala; Umi Rachmah Damayanti; Ratna Nuraini; Ibrahim Musa
Research in Accounting Journal (RAJ) Vol. 7 No. 1 (2026): RAJ (Research in Accounting Journal)
Publisher : Yayasan Pendidikan Riset dan Pengembangan Intelektual (YRPI)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37385/xe50qh68

Abstract

This study examines the reaction of the Indonesian capital market to the 2025 replacement of the Minister of Finance of the Republic of Indonesia using an event study approach. Market reaction is assessed through abnormal returns of sectoral indices listed on the Indonesia Stock Exchange (IDX) within an event window of 20 trading days before and 20 trading days after the announcement date. The Jakarta Composite Index (JCI) is employed as a proxy for market return, while sectoral index closing prices serve as the primary data source. The analysis includes normality testing, one-sample t-tests, paired-sample t-tests, and comparative analysis of Average Abnormal Returns (AAR) across sectors. The findings reveal the presence of significant abnormal returns on several trading days surrounding the event, indicating that the ministerial replacement conveyed value-relevant information that elicited investor responses. However, the paired-sample t-test results show no statistically significant difference in average abnormal returns between the pre-event and post-event periods, suggesting that the market reaction was temporary and rapidly absorbed. Sectoral analysis further demonstrates heterogeneous responses, with the Technology, Industrials, and Healthcare sectors exhibiting the highest sensitivity, while the Consumer Non-Cyclicals and Consumer Cyclicals sectors showed relatively defensive characteristics. These results provide evidence that political-economic events can generate short-term market reactions, although their impact varies across sectors. The findings support the Semi-Strong Form of the Efficient Market Hypothesis and Signaling Theory, highlighting that investors interpret and respond to political information differently depending on sector-specific characteristics.
Managing Seasonal Demand Surges: Sales Strategies for Homemade Cookie Businesses During the Ramadan Peak Season Leony Angelina Rianita Putri; Ali Farhan
Research in Accounting Journal (RAJ) Vol. 7 No. 2 (2026): RAJ (Research in Accounting Journal)
Publisher : Yayasan Pendidikan Riset dan Pengembangan Intelektual (YRPI)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37385/012xcq89

Abstract

This study analyzes the surge in demand for Leon Cookis homemade cookies during the peak Ramadan season, driven by the tradition of exchanging gift hampers, increased consumer purchasing power, and promotional activities through WhatsApp. The objective of this research is to identify the factors influencing the demand increase, examine the sales management strategies implemented by the business, and compare business performance during Ramadan and normal periods. A qualitative approach was employed through interviews with the business owner and direct observations of the production process. The findings reveal that the cookies are produced fresh based on customer orders, while affordable pricing is maintained through the direct procurement of ingredients from suppliers. As a result, monthly sales volume increased significantly from 15 to 150 jars during the Ramadan peak season. The business strategy focuses on a made-to-order production system and direct purchasing of raw materials to optimize efficiency and maintain product quality. A comparison between Ramadan and regular periods indicates substantially higher operational efficiency and sales performance during the Ramadan peak season.
Examining the Effects of Financial Literacy, Family Financial Socialization, Parental Education, and Parental Income on Financial Behavior among University Students Living Away from Home Umi Rachmah Damayanti; Ade Ria Nirmala; Ratna Nuraini; M. Sabri; Siti Intan Nurdiana Wong Abdullah
Research in Accounting Journal (RAJ) Vol. 7 No. 1 (2026): RAJ (Research in Accounting Journal)
Publisher : Yayasan Pendidikan Riset dan Pengembangan Intelektual (YRPI)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37385/xnzkjw73

Abstract

University students living away from home are required to manage their finances independently while facing various economic and social challenges. This study aims to examine the influence of financial literacy, family financial socialization, parental education, and parental income on the financial behavior of university students living away from home. A quantitative approach was employed using primary data collected through questionnaires. The sample consisted of 375 university students living away from home from the Faculty of Economics and Social Sciences, selected using the accidental sampling technique. Data were analyzed using multiple linear regression with the assistance of SPSS software. The results indicate that financial literacy, family financial socialization, parental education, and parental income have a positive and significant effect on financial behavior. The coefficient of determination (R²) of 67.5% shows that variations in financial behavior can be explained by these four variables, while the remaining 32.5% is influenced by other factors outside the research model. The findings suggest that the financial behavior of university students living away from home is influenced not only by financial knowledge but also by family financial socialization and parents’ socioeconomic background.

Page 7 of 7 | Total Record : 63

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