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Journal of Accounting and Investment

ai
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Published by Universitas Muhammadiyah Yogyakarta

ISSN : 26223899 EISSN : 26226413 DOI : 10.18196/jai

Core Subject : Economy,

Economics, Econometrics & Finance

JAI receives rigorous articles that have not been offered for publication elsewhere. JAI focuses on the issue related to accounting and investments that are relevant for the development of theory and practices of accounting in Indonesia and southeast asia especially. Therefore, JAI accepts the articles from Indonesia authors and other countries. JAI covered various of research approach, namely: quantitative, qualitative and mixed method.

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Articles 11 Documents

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Search results for , issue "Vol 21, No 1: January 2020" : 11 Documents clear

Accounting Treatment for Heritage Assets: A Case Study on Management of Pari Temple Heri Widodo; Nur Ravita Hanun; Retno Wulandari
Journal of Accounting and Investment Vol 21, No 1: January 2020
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Research Aims: This research is conducted to find out how the accounting treatment of the Heritage Asset, Candi Pari, how the assets are recognized, recorded and reported in the financial statements using a case study viewpoint.Design/Methodology/Approach: The Researchers collected the research data in three phases; first, the Researcher interviewed informants or sources from relevant department or manager of Candi Pari, namely the Balai Pelestarian Cagar Budaya, Jawa Timur (BPCB), second, the researcher checked documents of the Heritage Assets Candi Pari, how it’s recognized, as what, recorded, until now the value of Heritage Assets is, and the last data searching. Methods of data analysis in research is divided into three stages, first, data reduction, data selection, concentration, attention, abstraction and transforming the raw data from the field, second, the data display, presents data in the narrative and tables form to explain the phenomenon under study and the last is the conclusion.Research Findings: The results of this study is the recognition of the BPCB Jawa Timur is that Candi Pari is recorded as a plant asset, and Candi Pari is deliberate without value, so the Heritage Assets can not be traded. The amount of this recording conforms with based government accounting standards (PSAP) no. 07 the year 2010 statement no 69 that Heritage Assets must be recorded in the number of units without value.Theoretical contribution/Originality: The research contributes to find out how the accounting treatment of the Heritage Assets Candi PariPractitioner/Policy implication: Heritage assets are a material cultural heritage in the form of cultural heritage objects, cultural heritage buildings, cultural heritage structures, cultural heritage sites and cultural heritage areas on land or in water that needs to be preserved because they have essential values for history, science, education, religion, or culture through the determination process.Research limitation/Implication: The limitation of this research is that it has only a few informants since, in order to improve the effectiveness of research time, the researcher focuses more on the accounting treatment for Pari Temple as heritage assets.

Herding Behaviour in Sharia Stock: The Moderation Effect of Good Governance Business Sharia Disclosure Ike Arisanti; Tri Wahyu Oktavendi
Journal of Accounting and Investment Vol 21, No 1: January 2020
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Research aims: One of the irrational behavior of investors is herding behavior. Disclosure of certain information is one of the triggering factors for herding behavior. However, “whether all the various types of information disclosure can encourage herding?” This is a big question related to the success of Good Governance Business Sharia (GGBS) information disclosure in stimulating herding behavior in Sharia stock trading. Hence, this study aims to examine the role of GGBS disclosure in herding behaviour.Design/Methodology/Approach: This study uses the object of companies listed on the ISSI (Indonesian Sharia Stock Index 2018. Data analysis in this research is using the Regression and moderation Test.Research findings: The results show that the GGBS disclosure was able to moderate herding behavior in Indonesian Sharia Stock. In this study it was found that the presence of GGBS Disclosure further strengthens the existence of herding behavior, meaning that investors conduct herding behavior reinforced by the information coming from within the company in the form of disclosure of GGBS Disclosure.Theoretical contribution/Originality: The theoretical impact is to expand the study of herding behavior and relate it to the disclosure of information. This study is also an initiator that examined the role of GGBS as moderating variable.Practitioner/Policy implication: The implication of this research is to be able to increase company concern in terms of GGBS disclosure so that the sharia stock market can be more transparent.Research limitation/Implication: This research only focuses on one information, namely GGBS Disclosure. This cannot generalize that information disclosure can strengthen or even weaken the existence of herding behavior. This research only uses one method of detection of herding, namely using Cross-Sectional Absolute Deviation (CSAD). This study uses all objects in the Indonesian Sharia Stock Index (ISSI) without considering sharia activities in each company.

Green Earth: Carbon Emissions, ISO 14001, Governance Structures, Militarily Connected from the Manufacturing Industries in Indonesia Sri Iswati; Pikar Setiawan
Journal of Accounting and Investment Vol 21, No 1: January 2020
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Research aims: This study aims to examine the effect of ISO 14001 empirically, Governance Structures and companies led by back with a military to carbon emissions disclosure in the manufacturing company that registered at the (IDX) Indonesian Stock Exchange of 2013 to 2017.Design/Methodology/Approach: The sample in this research was 53 companies chosen based on purposive sampling technique. The data used was 265 observation. The testing of hypotheses uses Ordinary Least Square (OLS) regression with STATA v14.Research findings: The research results show that there are three variables have proven to be not significant to carbon emissions, namely board independent, military connection, and return of equity. Research proves that board independent, military relationship, and return of equity did not affect commitment to express carbon emissions. On the other hand, this research demonstrates that there is four a variable that has significant impact on the carbon emission disclosure in manufacturing company that is, board size, ISO 14001, firms size and leverage.Theoretical contribution/ Originality: This research explain that the average Carbon Emission Disclosure (CED) performance of companies that have military-connected is higher than companies that not military-connected. Companies that have an ISO 14001 certificate with military connections have a higher average and are significantly higher than companies that are not connected with the military.Practitioner/Policy implication: The results of this study indicate the importance for companies to pay attention to the environment of production activities and the need for the government to set standards for disclosure of carbon emissions in order to achieve clean.Research limitation/Implication: The research carried out is still limited to companies that publish carbon emissions disclosures, inconsistent and still relatively low because disclosure of carbon emissions is still voluntary.

The Effect of External Pressure, Management Commitment and Accessibility towards Transparency of Financial Reporting Bambang Jatmiko; Muhammad Budi Setiawan
Journal of Accounting and Investment Vol 21, No 1: January 2020
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Research Aims: This study aims to examine and empirically prove the Effects of External Pressure, Management Commitment, and Accessibility of Financial Statements on Transparency of Financial Reporting in Regional Work Units in Yogyakarta City.Design/Methodology/Approach: The methodology used is survey with purposive sampling. The respondents of this study consists of 74 people. The analytical tool used in this study is multiple linear regression using the SPSS.Research Findings: The test results indicate that external pressures, management commitment, and accessibility of financial statements have a positive effect on financial reporting transparency.Theoretical contribution/Originality: this research filled the research gap related to the issue of determinants of transparency of financial reporting in local governments which has got minimal attention from researchers.Practitioner/Policy implication: departing from the results of this study, it is recommended to increase the transparency of financial reporting, external pressure, management commitment and accessibility must be encouraged.Research limitation/Implication: This research was only conducted in the city of Yogyakarta, so it has weak external validity. The generalization of this study results does not represent a broader scope.

Budgetary Participation, Compensation, and Performance of Local Government Working Unit: The Intervening Role of Organizational Commitment Afrizal Tahar; Hafiez Sofyani
Journal of Accounting and Investment Vol 21, No 1: January 2020
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Research aims: This study aims to examine the influence of budgetary participation and compensation influence toward local government performance with organizational commitment as an intervening.Design/Methodology/Approach: The sample used was government officials in Magelang City, Indonesia. The respondents involved in this study were head of the division, head of the sector, head of sub-division, head of sub-sector, and staff. This research used a purposive sampling method. The type of data is primary data that were collected by distributing the questionnaires. 116 respondents were involved as the sample. Partial Leas Square (PLS) was employed to test the hypotheses.Research findings: This study revealed that budgetary participation and compensation influenced organizational commitment. Also, it showed that budgetary participation and compensation indirectly influenced on local government performance through organizational commitment.Theoretical contribution/Originality: This study gives evidence that organizational commitment has a role as a full intervening variable on the relationship between budgetary participation and compensation toward performance.Practitioner/Policy implication: This study gives beneficial information to the regulator and local government management to enhance agencies’ performance.Research limitation/Implication: This study only conducted in Magelang City. Arguably, the reader needs to be carry full in reading this study result, mainly to generalize the study results.

Has IFRS improved Accounting Quality in Indonesia? A Systematic Literature Review of 2010-2016 Wahyuni, Ersa Tri; Puspitasari, Gina; Puspitasari, Evita
Journal of Accounting and Investment Vol 21, No 1: January 2020
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Research aims: International Financial Reporting Standard or IFRS has been promoted as globally-acceptable accounting standard. Previous studies indicate that in developed countries, in Europe for instance, IFRS implementation demonstrates a positive effect and tendency towards better accounting quality. This research aims to discover the effect of IFRS implementation in Indonesia through studying relevant journal articles published between 2010-2016. The present study provides an overview of how the standard is implemented in the country.Design/Methodology/Approach: Data were collected from 168 research published in the observed period by conducting a structured literature review.Research findings: The results show that research articles on the impact of IFRS in Indonesia is more dominant (53.66%) than that on implementation and issues (23.17%) and the development of IFRS convergence process (23.17%). Out of the 189 frequencies from sampled studies on the impact of IFRS convergence in Indonesia, the study of value relevant (25.39%) and earnings management (24.35%) is the most common method used in discussing the IFRS impact. In general, IFRS convergence has positive impact to the quality improvement of financial statements, as evidenced by the increased relevance of value, the quality of accounting information, the quality of profit, and the company's financial performance as well as the decreasing earnings management practices.Theoretical contribution/Originality: This research contributes to the development of knowledge about IFRS research and the impact of IFRS convergence in a developing country.Practitioner/Policy implication: The results of this study indicate the overall impact of IFRS in Indonesia that can be used as foundation for further research. This study can be used as a reference for future studies, to determine what topics have not been addressed in this study or what topics can be further investigated. Also, regulator can use my findings as a reference, for understanding the benefits of IFRS implementation in Indonesia and for making improvements in their policy and regulations.Research limitation/Implication: Some papers analysed in this paper come from the proceedings of Simposium Nasional Akuntansi (SNA). As proceedings may not be as rigorous as publication in the academic journal, SNA remains as the most prestigious accounting conference in Indonesia which invites high quality papers.

Islamic Values in the Annual Reports of the Shariah Bank to Create a Sharia Value-Added Rediyanto Putra; Rahma Rina Wijayanti
Journal of Accounting and Investment Vol 21, No 1: January 2020
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Research Aims: This study aims to examine, understand, and prove the embodiment of Islamic values in the annual report of Sharia Banks. The results of this study are expected to provide information or data to all parties regarding the layout and Islamic values in the Sharia Banks' annual report, which can be a form of a real differentiator between Sharia Banks and conventional banks if viewed in terms of the content of the annual report.Design/Methodology/Approach: The interpretive method in this study is suitable for research purposes that are not intended to perform hypothesis testing but to do an interpretation of research data. The interpretive method used in this research is to analyze the data by using semiotic analysis. Differential semiotic analysis is an analysis of data that focuses on meaning and sign. Semiotic analysis of the annual sharia bank report is carried out on the narrative texts on the annual report. Semiotic analysis in this study is based on Charles Sanders Pierce's semiotic analysis which uses the triangles of meaning.Research findings: The results of the study showed that the annual reports of Muamalat Bank from 2012 to 2016 had indicated Islamic values. Islamic values were found most frequently in the annual report of Muamalat Bank from 2014 to 2016. The Islamic values in the annual reports of Muamalat Bank were included in the Sharia Supervisory Board Report, the Board of Commissioner Report, the Board of Directors, corporate governance information, and information related to Corporate Social Responsibility (CSR). Thus, the presence of Islamic values in the annual reports of Muamalat Bank can create the sharia value added to the company.Theoretical contribution/Originality: The results of this study have contributed to the application of the Shari'ah Enterprise Theory (SET) theory. The existence of the application of Islamic values in the financial statements of Bank Muamalat shows that Bank Muamalat is not only responsible for its business activities to humans (investors) but also to God.Practitioner/Policy implication: The results of this study indicate that Bank Muamalat must continue to maintain the existence of Islamic values in operational activities that are presented in its annual report. This is due to the fact that Bank Muamalat's operational activities are truly in accordance with Islamic law.Research limitation/Implication: The Islamic values were found most frequently in the annual reports of Muamalat Bank from 2014 to 2016. A good practice of Islamic values is finally expected to result in the meaningful added value of sharia. The limitations in this article that are the number of the theory and methodologies related to the phenomenon of Islamic values on the disclosure of information in the annual reports is still limited. So, further researches will be necessary to find another theory and develop methodologies to investigate the Islamic values represented in the annual report of sharia banking.

The Impact of Foreign Investor Ownership Level on Agency Problems of Manufacturing Companies in Indonesia Ahmad Cahyo Nugroho; Dedi Febrianto; Avia Enggar Tyasti; Christian Kuswibowo
Journal of Accounting and Investment Vol 21, No 1: January 2020
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Research aims: Investment plays an essential role in the business growth of a company and the economy to develop more broadly. The role makes each institution implement investment targets and takes all actions to support the realization of investment targets. This study proves that foreign investors can change the investment behavior of companies and the interaction among decisions.Design/Methodology/Approach: The study used a dynamic panel data analysis method based on the financial statements of 100 manufacturing companies listed on the Indonesia Stock Exchange (IDX).Research findings: Increasing foreign ownership does not always reduce agency problems. The analysis shows that the level of share ownership of foreign investors changed the company’s investment behavior. These results indicate that there are different agency problems in different ownership level of foreign investors.Theoretical contribution/Originality: This study provides a new perspective and empirical evidence that the relationship between agency problems and foreign share ownership is not static.Practitioner/Policy implication: This study analyzes the effect of the composition of foreign investors on the allocation of corporate funds by investigating capital asset investment and current asset investment interactions. This research contributes to the firm's ability to control its own goals.Research limitation/Implication: This research has not considered the company's risk characteristics related to the type of industry. For further research development, it is necessary to consider the company's risk characteristics to enhance the analysis.

Accounting Student’s Moral Judgment and Integrated Cultural Religious-Based Ethics Concept Made Aristia Prayudi; I Putu Hendra Martadinata
Journal of Accounting and Investment Vol 21, No 1: January 2020
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Research aims: Despite its widely recognized importance, there is a lack of today's business ethics education regarding the method used for teaching ethics to college students. The conventional business ethics courses are criticized for applying learning approaches limited to the abstract, impersonal moral logic of secular ethics that is less natural, meaningful, and motivating, which cannot have a significant and lasting impact on the moral judgment of its graduates. This current study addresses the issue by investigating the effect of integrating cultural and religious-based ethics concept, named Tri Kaya Parisudha (the Three Holy Deeds—think good, speak good, and do good) into ethical training toward moral judgment development of accounting students.Design/Methodology/Approach: Data were collected from 46 accounting undergraduate students of a large public university in Bali Province of Indonesia by conducting Pre-test-Post-test Control Group experimental design.Research findings: The results showed that participants who were receiving ethical training integrate with the Tri Kaya Parisudha concept (treatment group) exhibited higher moral judgment development (that is, have significantly higher DIT p-score) than those who did not (control group). Besides, there was evidence of a statistically significant increasing DIT p-score in the treatment group from pre to post-test, but not in the control group.Theoretical contribution/Originality: This research contributes to the development of academic studies on Tri Kaya Parisudha and its integration to ethical learning on the development of students’ morality.Practitioner/Policy implication: The results of this study indicate the importance of integrating the value of local wisdom and religiosity values into ethical learning at universities to improve students’ morality.Research limitation/Implication: Although this study found that ethical education at the college level will be more effective if the aspect of religiosity is included within the education process, there are some limitations of this study. First, this study used an experimental method using cases that did not reflect the actual condition and have not been sufficiently related to ethical cases occurring in the business world. Secondly, this study has not been able to fully capture the influence of Tri Kaya Parisudha on students’ behavior. Thirdly, this research did not consider another demographic variable that could affect students’ moral judgment.

Skills of the Forensic Accountants in Revealing Fraud in Public Sector: The Case of Indonesia Sumartono Sumartono; Dekar Urumsah; Rizki Hamdani
Journal of Accounting and Investment Vol 21, No 1: January 2020
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Research aims: This paper aims primarily to investigate the effect of the skills of forensic accountants on the public sector in revealing fraud in Indonesia. Therefore, this research focuses on the investigation of forensic accountants in the public sector.Design/Methodology/Approach: This study employed a quantitative approach with a survey method. Questionnaires were distributed to the auditors possessing experiences to conduct investigative auditing in the Audit Board of the Republik of Indonesia (BPK RI). In total, 44 respondents returned the questionnaires, which can be considered suitable for a descriptive survey.Research findings: The results showed that the investigative skill and business valuation affected significantly and positively, and then business skill had significant and negative effects on the skills of forensic accountants in revealing fraud in the public sectors. On the other hand, financial accounting skills had no significant impact on the skills of forensic accountants in revealing fraud in the public sectors.Theoretical contribution/Originality: This paper highlights various important skills possessed by forensic accountants in the public sector in revealing fraud in Indonesia.Practitioner/Policy implication: This paper contributes as the basis of institutions’ concerns such as recruiting future forensic accountants in the public sectors, and training and upgrading related to the investigative skill, and business valuation which is compulsorily possessed by forensic accountants.Research limitation/Implication: This study focused on the public sectors, in this case, the Audit Board of the Republik of Indonesia representative of Yogyakarta province, and on succinct respondents. Future studies should add more institutions and respondents involved in the analysis process to gain a complete representation of the skills of forensic accountants.

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