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The Journal of Financial, Accounting and Economics
Published by PT. Global World Scientific
ISSN : -     EISSN : 30319064     DOI : https://doi.org/10.58857/JFAE.2024.v01.i02.p05
Core Subject : Economy, Science,
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance
The Journal of Financial, Accounting, and Economics (JFAE) is a scientific journal published by the Global World Scientific which aims to publish articles of empirical and theoretical studies in the field of Accounting, Finance, and Economics. Editors accept articles in English or Bahasa and were not delivered or published in another journal. Determination of the article that appeared determined by expert editors review results through a blind review process. JFAE focuses related on various themes, topics and aspects Financial, Accounting, and Economics, including (but not limited) to the following topics: Accounting, Behavioral Accounting, Financial Management, Behavioral Finance, Sharia Banking, Conventional Banking, Capital Market, Economics Development, and Behavioral Economics.
Arjuna Subject : Bisnis, Menejemen, dan Akutansi (semua kategori) - Bisnis, Menejemen, dan Akutansi (Lain-Lain)
Articles 20 Documents
 1   2 
Financial Performance Against Stock Prices of the Mining Sector in Indonesia Madiha, Fathinul; Fatihudin, Didin; Roosmawarni, Anita
The Journal of Financial, Accounting, and Economics Vol. 2 No. 1 (2025)
Publisher : PT. Global World Scientific

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58857/JFAE.2025.v02.i01.p01

Abstract

This study aims to analyze the effect of financial performance on the stock price of mining sector companies listed on the Indonesia Stock Exchange (IDX) during the period 2012–2015. The independent variables in this study consist of Return on Assets (ROA), Return on Equity (ROE), Earnings Per Share (EPS), Price-to-Earnings Ratio (PER), and Price-to-Book Value (PBV). In contrast, the dependent variable is the stock price. The study population includes all mining sector companies listed on the IDX, with samples obtained through a purposive sampling method. The data analysis technique employed is multiple linear regression analysis, which tests the simultaneous and partial effects of each variable on stock prices. The results of the hypothesis testing indicate that all financial performance variables have a significant effect on stock prices simultaneously. To some extent, EPS, ROA, and PBV have a significant impact on stock prices, while ROE and PER do not exhibit a significant effect. EPS was found to be the most dominant variable in influencing the stock prices of mining sector companies. Theoretically, these results strengthen the existing literature on the importance of EPS indicators in stock valuation. At the same time, they provide guidance for investors in making informed investment decisions based on fundamental analysis. This study also suggests the need for a sector-specific approach in evaluating the effect of financial indicators on stock prices.
Economic Growth, Financial Development and Carbon Emissions. Does Institutional Quality Matter? Kinuthia, Peter; Kemboi, Issac's; Onyango, James; Adaramola, Muyiwa Samuel
The Journal of Financial, Accounting, and Economics Vol. 2 No. 2 (2025)
Publisher : PT. Global World Scientific

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58857/JFAE.2025.v02.i02.p01

Abstract

This study investigates the moderating role of institutional quality on the relationship between economic growth, financial development and carbon missions in Sub-Saharan Africa using a fixed effects panel regression model. The analysis reveals that economic growth and financial development have a positively and significantly relationship with carbon emissions, suggesting that these factors contribute to environmental degradation when sustainability measures are lacking. Conversely, institutional quality exhibit negative and significant effects on emissions, highlighting its potential in mitigating environmental harm. Importantly, interaction terms show that institutional quality moderates the positive effects of economic growth and financial development on carbon emissions, implying that strong institutions can reduce the environmental costs of development. These findings underscore the critical role of institutional quality in shaping the environmental outcomes of economic and financial progress. Policy recommendations include strengthening institutional frameworks, promoting green finance, and aligning economic growth with sustainable development goals to achieve low-carbon growth in the region.
Cash Flow Analysis on Increasing the Effectiveness of Fund Management in King Corn Business Yudi Rezki Pratama Gu’a; Muhammad Yunus Kasim; Fatlina Z.; Rian Risendy; Muhammad Rifaldi Djufri
The Journal of Financial, Accounting, and Economics Vol. 2 No. 1 (2025)
Publisher : PT. Global World Scientific

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58857/JFAE.2025.v02.i01.p02

Abstract

Penelitian ini bertujuan untuk mengetahui analisis laporan arus kas sebagai alat ukur pengelolaan dana King Corn untuk menghasilkan kas bersih di setiap penjualannya. Penelitian ini dilakukan dengan pendekatan kuantitatif-deskriptif. Metode analisis data yaitu analisis horizontal dan rasio arus kas penjualan. Berdasarkan hasil analisis horizontal bulan September mengalami penurunan, kemudian ada kenaikan yang signifikan pada bulan November, dan pada bulan Desember terlihat cukup stabil. Arus kas aktivitas operasi dapat dikatakan fluktuatif tetapi masih dominan bernilai positif. Selanutnya, berdasarkan hasil analisis rasio arus kas dari penjualan di dapatkan hasil bahwa nilai arus kas cukup fluktuatif ada penurunan dibulan Oktober, ada kenaikan dibulan November dan Desember, hasil ini dapat dikatakan baik, sehingga meningkatkan liquiditas dan menghindari ketidakmampuan bayar, dan membantu menghadapi tantangan dalam usaha atau peluang bisnis yang mungkin muncul, tanpa tergantung pada pembiayaan dari luar. Berdasarkan Hasil penelitian dan pembahasan disimpulkan analisis horizontal bulan pertama mengalami penurunan tapi masih dikatakan baik karna tiga bulan setelahnya ada peningkatan nilai. Laporan arus kas fluktuatif tetapi tetap bernilai positif sehingga dapat membiayai segala kewajiban dan biaya operasionalnya dan juga sebagai bahan pertimbangan untuk pengambilan keputusan dalam mengembangkan usaha.
Towards Digital Accountability: A Study of the Application of Information Technology in the Financial Reports of Palolo Village Nelson Andresanto Jonathan; Muslimin; Yunus Kasim; Rian Risendy
The Journal of Financial, Accounting, and Economics Vol. 2 No. 1 (2025)
Publisher : PT. Global World Scientific

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58857/JFAE.2025.v02.i01.p04

Abstract

This study aims to analyze the application of information technology in the preparation of village financial reports in Palolo District, Sigi Regency. The independent variable in this study is the application of information technology (Siskeudes), while the dependent variable is the preparation of village financial reports. The population in this study were village governments from six villages in Palolo District, with six respondents as the research sample. Respondents consisted of village officials directly involved in financial management, especially the village treasurer. Data collection techniques used were interviews and documentation, while data analysis techniques used a qualitative approach through three stages: data reduction, data presentation, and conclusion drawing. The research results indicate that the application of information technology in the preparation of village financial reports in Palolo District has not been optimal. Key obstacles include unstable internet access and a lack of understanding among village officials regarding the use of the Siskeudes application. This situation hinders the effectiveness and efficiency of village financial reporting and highlights the need for increased capacity and infrastructure to support the comprehensive digitalization of village financial governance.
Optimizing Internal Audit as a Pillar of Managerial Control: A Literature Review Ni Made Candra Dewi
The Journal of Financial, Accounting, and Economics Vol. 2 No. 1 (2025)
Publisher : PT. Global World Scientific

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58857/JFAE.2025.v02.i01.p05

Abstract

Internal audit plays a strategic role in managerial control, particularly in the face of the complexity and dynamics of the modern, uncertain business environment. This study aims to analyze the role, challenges, and optimization strategies of the internal audit function through a literature review approach. The main focus of this study is how internal audit contributes to the effectiveness of control systems, improving governance, and strengthening risk management within organizations. The findings of the literature review indicate that internal audit effectiveness is significantly influenced by factors such as auditor competence, level of independence, top management support, and the use of information technology in the audit process. In addition to highlighting critical success factors, this study also identified several key challenges in internal audit implementation, including limited human resources, resistance to change, and rapid regulatory and technological developments. Therefore, optimization strategies are needed, such as enhancing auditors' professional capacity, adopting data-driven audit technology, and strengthening communication between auditors and management. The study concludes that internal audit needs to transform from a traditional oversight function into a proactive, adaptive, and collaborative strategic partner in driving the achievement of organizational goals. The implications of this research provide direction for developing more relevant and competitive internal audit practices in the digital era.
Factors Influencing Stock Valuation: A Systematic Review of the Role of Market Fundamentals and Sentiment Hafidz, Nida Shaffitry
The Journal of Financial, Accounting, and Economics Vol. 2 No. 1 (2025)
Publisher : PT. Global World Scientific

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58857/JFAE.2025.v02.i01.p03

Abstract

Stock valuation is a crucial aspect of investment decision-making, influenced by both company fundamentals and market sentiment. This study aims to systematically examine the influence of these two factors through a Systematic Literature Review (SLR) approach on literature published between 2020 and 2024 in the ScienceDirect database. The analysis of 10 articles shows that fundamental indicators such as financial performance, financial ratios, and revenue growth significantly influence stock valuation. However, market sentiment, including investor opinion, news coverage, and social media activity, also plays a significant role in shaping stock prices, often leading to deviations from fundamental values. This study emphasizes the importance of an approach that considers the interaction between fundamental factors and market sentiment for a more comprehensive understanding of stock valuation dynamics.
Synergy of Information Technology, Accounting Information Systems, and Human Resource Quality in Enhancing Employee Performance Moh Ali Wafa; Dewi Kusmayasari; Irawan, Mohamad Rizal; Darmayanti, Novi
The Journal of Financial, Accounting, and Economics Vol. 2 No. 2 (2025)
Publisher : PT. Global World Scientific

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58857/JFAE.2025.v02.i02.p02

Abstract

This study aims to analyze the influence of the use of information technology, accounting information systems, and human resource quality on employee performance at PT Sinar Mutiara Miru-Lamongan. The method used in this study is a quantitative descriptive approach with a population of all company employees. The data used consists of primary data obtained through questionnaires, as well as secondary data to support the analysis. The data processing was carried out using SPSS version 25 software, through the stages of descriptive statistical tests, data quality tests, classical assumption tests, and hypothesis tests. The results of the study indicate that simultaneously, the use of information technology, accounting information systems, and the quality of human resources significantly influence employee performance. Partially, each variable also proved to have a significant impact, with human resource quality being the most dominant factor influencing performance. These findings indicate that improving HR competency, supported by an integrated information system and appropriate technology utilization, will drive optimal work productivity. This research provides a practical contribution to companies in formulating performance improvement strategies based on the synergy between technology, information systems, and HR development.
Impact of G20 on Financial Inclusion in Indonesia: Microfinance, Financial Technology, and Economic Digitalization Evi Maria; Alexandria Firsta Putri Aisyah; Edi Sudiarto
The Journal of Financial, Accounting, and Economics Vol. 2 No. 2 (2025)
Publisher : PT. Global World Scientific

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58857/JFAE.2025.v02.i02.p03

Abstract

Financial inclusion has been a key focus area in the G20 Finance Track, which aims to address and reduce economic disparities through expanding access to financial services. This is particularly relevant for low-income and remote communities, which face various barriers to accessing the formal financial system, be it geographical, infrastructural, or socio-economic. By increasing access to financial products and services such as savings, credit, insurance, and digital payments, financial inclusion is expected to drive economic empowerment, strengthen financial resilience, and reduce poverty. The G20 initiative is an important catalyst in mainstreaming financial inclusion as an inclusive sustainable development strategy. Therefore, it is important to empirically assess the extent of the impact of this policy on real conditions at the micro and macro levels. This study aims to analyze and describe the changes that occur in microfinance institutions, the development of financial technology (fintech), and economic digitalization through e-commerce in Indonesia, especially in the context of the implementation of the G20 agenda. The approach used in this research is descriptive quantitative with a paired sample t-test method to measure the difference between conditions before and after the G20 intervention. The results show that there is a statistically significant increase in a number of financial inclusion indicators after the intervention, especially in the aspects of fintech usage and digital transactions. This finding provides empirical evidence that the G20 plays an important role in accelerating digital financial transformation in Indonesia. Thus, global policies and agendas such as the G20 can have a real and positive impact on financial inclusion at the national level, if adaptively integrated with local needs.
Promotion and Price Discount Strategies in Encouraging Consumer Purchasing Decisions: A Case Study of Indomaret in Amahusu Village, Ambon Kastanja, Jazzyca Gabriela; Janwarin, Xaverius M Y
The Journal of Financial, Accounting, and Economics Vol. 2 No. 2 (2025)
Publisher : PT. Global World Scientific

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58857/JFAE.2025.v02.i02.p05

Abstract

This research is motivated by two main reasons. First, the high density of retail stores in Ambon City, including Indomaret, Alfamidi, supermarkets, and privately owned stores, has created increasingly fierce competition. To face this competition, Indomaret implements sales promotion strategies and price discounts to attract consumer interest. Second, there is a gap in previous research results regarding the effect of price discounts on purchasing decisions, so further empirical confirmation is needed. Therefore, this study aims to analyze the influence of sales promotions and price discounts on the purchasing decisions of Indomaret consumers in Amahusu Village, Ambon City. This study used a quantitative approach with a survey method and multiple regression analysis techniques. Data were collected from 207 respondents who were local Indomaret consumers. The results showed that sales promotions positively and significantly influenced purchasing decisions, as did price discounts, significantly encouraging consumer purchasing decisions. Simultaneously, both variables were also proven to influence purchasing decisions at Indomaret Amahusu positively. Thus, sales promotion and price discount strategies effectively increase consumer purchasing interest, partially and simultaneously.
Effectiveness of Momentum and Contrarian Strategies: A Systematic Literature Review Across Countries, Models, and Market Conditions Wayan Eka Heltyani; Sudirman, I Made Surya Negara
The Journal of Financial, Accounting, and Economics Vol. 2 No. 2 (2025)
Publisher : PT. Global World Scientific

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58857/JFAE.2025.v02.i02.p04

Abstract

This study synthesizes empirical findings related to the effectiveness of momentum and contrarian investment strategies in various global stock markets during the period 1993-2023. Using a Systematic Literature Review (SLR) approach of 25 peer-reviewed scientific articles, this study analyzes the strategy characteristics, success determinants, and market context that affect the profitability of both approaches. The results show that momentum strategies are superior in the short term, especially in markets with low to medium information efficiency, while contrarian strategies are more effective in the long term, especially in markets with overreaction tendencies and retail investor dominance. The effectiveness of both strategies is highly contextual, depending on market microstructure, macroeconomic conditions, the risk model used, as well as the characteristics of market participants. Recent research trends point to the importance of adaptive strategies, such as volatility-based momentum, switching strategies, as well as the integration of behavioral factors such as investor attention. The study also identifies research gaps in cross-market validation, transaction costs, and response to geopolitical dynamics. The findings provide practical implications for investors and policymakers to develop more resilient and adaptive investment strategies.

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