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Maksimum : Media Akuntansi Universitas Muhammadiyah Semarang
Published by Universitas Muhammadiyah Semarang
ISSN : 20872836     EISSN : 25809482     DOI : 10.26714
Core Subject : Economy,
Economics, Econometrics & Finance
MAKSIMUM: Media Akuntansi Universitas Muhammadiyah Semarang with registered number ISSN: 2087-2836 (Print) and ISSN: 2580-9482 (Online), is a peer-reviewed journal published two times a year (Maret and September) Manage by Accounting Department, Faculty of Economics and published by Universitas Muhammadiyah Semarang. Jurnal MAKSIMUM invites manuscripts in the various topics include, but not limited to, functional areas of International and financial accounting, Management and cost accounting, Tax, Auditing, Accounting information systems, Accounting education, Accounting for non-profit organisations, Public sector accounting, Corporate governance, Corporate finance, Investments and Banking. Jurnal MAKSIMUM accepts the articles from Indonesia authors and other countries. Jurnal MAKSIMUM covered various of research approach, namely: quantitative, qualitative and mixed method.
Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Ilmu Ekonomi, Ekonometrika dan Keuangan (Lain-Lain)
Articles 186 Documents
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Determinants of Islamic Banking Adoption in Indonesia: Attitude, Religiosity, and Financial Literacy Samar T.M. Al Haj; Naelati Tubastuvi; Suryo Budi Santoso; Herni Justiana Astuti
MAKSIMUM: Media Akuntansi Universitas Muhammadiyah Semarang Vol 16, No 2 (2026): Maksimum: Media Akuntansi Universitas Muhammadiyah Semarang
Publisher : Universitas Muhammadiyah Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26714/mki.16.2.2026.136-152

Abstract

The Islamic banking sector in Indonesia has experienced substantial growth in recent years; however, public adoption remains relatively limited. This study aims to examine the behavioral factors that shape individuals’ intention to use Islamic banking services, with particular attention to four main variables: attitude, subjective norms, religiosity, and financial literacy. Identifying these factors is important to reduce the gap between the increasing availability of Islamic financial services and their actual utilization by society. A quantitative research design was applied, involving 250 respondents from diverse demographic backgrounds across several regions in Indonesia. The data were analyzed using Partial Least Squares–Structural Equation Modeling (PLS-SEM) to evaluate the relationships between the proposed variables. The findings indicate that attitude and financial literacy have a significant positive influence on the intention to adopt Islamic banking. Individuals who hold positive perceptions and possess sufficient financial knowledge are more likely to consider Islamic banking as an alternative financial option. On the other hand, subjective norms and religiosity do not show a significant effect on adoption intention. This suggests that personal evaluation and understanding play a more dominant role than social influence or religious considerations in shaping financial decisions. These results imply that efforts to promote Islamic banking in Indonesia should not rely solely on religious arguments. Instead, greater emphasis should be placed on effective communication strategies, financial education, and building public trust. The study provides practical insights for policymakers and Islamic financial institutions to develop more targeted programs that enhance financial literacy and promote broader financial inclusion through ethical, value-based banking systems.
Impact of Green Sukuk, Green Disclosure, and ESG on Financial Performance Shafira Azzahra Ramadhani; Yusmaniarti Yusmaniarti
MAKSIMUM: Media Akuntansi Universitas Muhammadiyah Semarang Vol 16, No 2 (2026): Maksimum: Media Akuntansi Universitas Muhammadiyah Semarang
Publisher : Universitas Muhammadiyah Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26714/mki.16.2.2026.215-225

Abstract

This study examines the effects of green sukuk, green disclosure, and environmental, social, and governance (ESG) performance on financial performance among Jakarta Islamic Index (JII) listed companies during 2021–2024. Employing a quantitative associative design, it utilizes secondary data from annual and sustainability reports. Purposive sampling yielded 20 firms, resulting in 80 observations overall. Panel data regression analysis was performed using EViews 12 software. The findings reveal a negative effect of green sukuk on financial performance, whereas green disclosure and ESG performance exhibit no significant impact. These findings indicate that the implementation of green financial instruments and sustainability practices has not yet had a direct positive impact on corporate financial performance in the short term, due to implementation costs and the need for long-term economic benefits. This study is expected to contribute empirical evidence to the literature on Islamic finance and sustainable finance.
Bridging Stakeholder Perceptions and Sustainability Reporting: A Comparative Systematic Review of Conventional and Sharia Banks in Indonesia Tomy Rizky Izzalqurny; Tatas Ridho Nugroho; Adrian Hartanto Darma Sanputra; Heni Afitri
MAKSIMUM: Media Akuntansi Universitas Muhammadiyah Semarang Vol 16, No 2 (2026): Maksimum: Media Akuntansi Universitas Muhammadiyah Semarang
Publisher : Universitas Muhammadiyah Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26714/mki.16.2.2026.153-170

Abstract

Sustainability reporting (SR) in the banking sector is increasingly expected to demonstrate not only regulatory compliance but also credible accountability to stakeholders. However, in Indonesia’s dual banking system, there is limited systematic evidence on how SR shapes stakeholder perceptions differently between conventional and Sharia banks. This study examines the relationship between SR and stakeholder perceptions by comparing disclosure orientations, legitimacy mechanisms, and theoretical explanations across both banking systems. Using a Systematic Literature Review guided by the PRISMA 2020 framework and supported by Weighted Automated Text Analysis for Systematic Evaluation (WATASE), this study synthesizes nine peer-reviewed articles published between 2017 and 2024. The findings show that SR functions as a multidimensional accountability mechanism that strengthens transparency, stakeholder trust, and legitimacy. Conventional banks tend to frame SR in terms of ESG compliance, risk management, corporate governance, and investor confidence, reflecting an institutional legitimacy orientation. In contrast, Sharia banks integrate SR with Maqashid Syariah values, emphasizing justice, welfare, ethical stewardship, and moral accountability to build social and spiritual legitimacy. The theoretical integration of stakeholder theory, legitimacy theory, and Maqashid Syariah indicates that SR operates as both a governance instrument and a moral communication medium. This study contributes by developing a comparative accountability perspective that links SR quality, governance mechanisms, stakeholder trust, and legitimacy within Indonesia’s sustainable banking landscape. In practice, the findings offer insights for regulators and banking practitioners to harmonize ESG-based reporting with Islamic governance principles.
Rebuilding Disaster Cities: Development of Palu City Through Local Government Budget Performance Nina Yusnita Yamin; Selmita Paranoan; Rolland M Yusuf; Shery Natalia Gollah; Hizkia Hazael Bezaliel Bawias
MAKSIMUM: Media Akuntansi Universitas Muhammadiyah Semarang Vol 16, No 2 (2026): Maksimum: Media Akuntansi Universitas Muhammadiyah Semarang
Publisher : Universitas Muhammadiyah Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26714/mki.16.2.2026.256-264

Abstract

Post-disaster recovery requires local governments to maintain adequate fiscal capacity to uphold public services and advance sustainable urban development. This study evaluates the financial performance of the Palu City Regional Government from 2019 to 2023 within the framework of post-disaster recovery. Using a descriptive quantitative method, the research examines effectiveness, efficiency, regional economic growth, and regional financial independence ratios to determine fiscal performance traits over the observed timeframe. The results highlight a disparity between revenue collection performance and true fiscal self-reliance. Local own-source revenue collection was highly effective, exceeding target projections in most cases and supported by a positive economic recovery following the 2020 economic downturn. However, operational efficiency remained low, as reflected by persistently high efficiency ratios throughout the period. Furthermore, regional financial independence remained minimal, indicating strong dependence on central government transfers. These findings confirm that achieving revenue targets and economic rebound does not ensure administrative efficiency or fiscal autonomy. Therefore, local financial governance reforms should prioritize revenue collection efficiency, internal control mechanisms, information technology integration, and revenue base diversification. These actions are essential to widen fiscal space and support sustainable urban development, particularly to sustain long-term post-disaster recovery efforts.
Audit Committee Characteristics and Earnings Management: The Moderating Role of Audit Quality Belinda Rachmadani; Dyah Febriantina Istiqomah
MAKSIMUM: Media Akuntansi Universitas Muhammadiyah Semarang Vol 16, No 2 (2026): Maksimum: Media Akuntansi Universitas Muhammadiyah Semarang
Publisher : Universitas Muhammadiyah Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26714/mki.16.2.2026.265-277

Abstract

One issue that still frequently arises in businesses is earnings management, which can lower the quality of financial statement data. This investigation analyzes how audit committee size, the presence of female members, and meeting frequency influence earnings management. It also examines how audit quality, as an external check, affects the influence of committee size, gender diversity, and meeting frequency on earnings management. A quantitative methodology was utilized. The study focused on companies listed on the Indonesian Stock Exchange (IDX) that operate in the non-cyclical consumer goods industry during 2022 to 2024. The study selected a purposive sample of 73 companies. The study used panel data regression in EViews 12. The findings indicate that audit committee size and gender composition do not significantly prevent earnings management, whereas more frequent audit committee meetings play a significant role in reducing it. High-quality external audits strengthen the effectiveness of larger audit committees in limiting earnings management, but weaken the positive effect of gender diversity and the negative effect of meeting frequency. Overall, reducing earnings management requires not only an effective audit committee but also proactive oversight and strong external audit quality.
The Influence of Environmental Management Systems, Eco-Efficiency, and Media Exposure on Carbon Emission Disclosure: Evidence from Indonesian Energy Companies Retno Wulandari; Imam Hadiwibowo; Mochammad Fachrul Riztin
MAKSIMUM: Media Akuntansi Universitas Muhammadiyah Semarang Vol 16, No 2 (2026): Maksimum: Media Akuntansi Universitas Muhammadiyah Semarang
Publisher : Universitas Muhammadiyah Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26714/mki.16.2.2026.242-255

Abstract

This study aims to examine the effect of Environmental Management System (EMS), environmental performance, and media exposure on Carbon Emission Disclosure (CED) in energy sector companies listed on the Indonesia Stock Exchange during the period 2021–2024. This study uses a quantitative approach with panel data regression analysis. The research sample is selected using a purposive sampling method, resulting in 25 energy sector companies with 100 observation data points. Data analysis is conducted using the Fixed Effect Model through EViews 12 software. The results show that EMS has a positive and significant effect on carbon emission disclosure, indicating that the implementation of environmental management systems encourages companies to increase carbon emission transparency. Meanwhile, environmental performance and media exposure do not have a significant effect on carbon emission disclosure. Among the control variables, firm age has a significant effect, while firm size and profitability do not show a significant influence. The research model simultaneously demonstrates a significant effect on carbon emission disclosure. This study concludes that environmental management systems play an important role in encouraging corporate environmental transparency and contributes to strengthening the application of legitimacy theory in explaining carbon emission disclosure practices in Indonesia’s energy sector.

Page 19 of 19 | Total Record : 186

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