Garuda - Garba Rujukan Digital

Article Per Year (5 Year)

All

Journal of Accounting and Investment

ai
Website

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.

Arjuna Subject : -

Articles 11 Documents

1 2

Search results for , issue "Vol 23, No 2: May 2022" : 11 Documents clear

Successful Crowdfunding in Indonesia Based on Financial Projection and Investor Attraction: Empirical Study on Micro, Small and Medium Enterprises (MSMEs) on the Bizhare Platform Anggrian Faulina Permatasari; Ihyaul Ulum; Ike Arisanti
Journal of Accounting and Investment Vol 23, No 2: May 2022
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Research aims: This study aims to examine the effects of investor attraction and financial projection on successful crowdfunding. Design/Methodology/Approach: A purposive sampling method was used by the researchers. The research sample consisted of 48 projects from the Bizhare platform from 2018 to 2021, with the following criteria: providing data that could be used as an indicator for measuring each variable. In testing the hypotheses, multiple linear regression analysis was employed with a principal component analysis model.Research Findings: The financial projection positively affected successful crowdfunding, while investor attraction negatively affected successful crowdfunding in Indonesia.Theoretical contribution/Originality: This study’s results are an additional discussion toward theory and literature related to crowdfunding.Practitioner/Policy implication: Disclosure of prospectus plays an essential role in preventing information asymmetry that may arise between managers and investors by providing knowledge to external investors. This study is needed to accelerate economic recovery due to the pandemic, which especially causes new projects to be trapped, saves MSMEs from limited capital, and improves business development.Research limitation/Implication: This research only used one platform as an object because not all crowdfunding platforms could be accessed and provided the information needed for research.

Does the Board of Commissioners’ Characteristics Relevant to the Sustainable Finance Disclosure in Indonesian Banks? Rahayu Rahayu; Djuminah Djuminah
Journal of Accounting and Investment Vol 23, No 2: May 2022
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Research aims: This study aims to investigate empirical evidence of the board of commissioners’ characteristics (independent commissioners, educational level of the president commissioner, and board of commissioner meetings) on sustainable finance disclosure.Design/Methodology/Approach: This study used panel data regression with 205 observations distributed in balanced panel data. The main data analysis was 164 data in 2015-2018, as the voluntary disclosure period. In addition, additional analysis was carried out for 41 data in 2019 as a mandatory disclosure period to achieve robust results.Research findings: The regression results revealed that the independent commissioners and board of commissioner meetings had a significant positive effect on sustainable finance disclosure. Meanwhile, the educational level of the president commissioner did not show a significant effect on sustainable finance disclosure. In additional tests, the educational level of the president commissioner and board of commissioner meetings did not affect the sustainable finance disclosure after being mandatory. Theoretical contribution/Originality: The results of this study can be used as additional support for agency theory and stakeholder theory. Moreover, to the best of the authors' knowledge, this research is the first to use The Financial Services Authority (OJK) regulation 51/POJK.03/2017 as a guideline to measure sustainable finance disclosure. Practitioner/Policy implication: The research result can be used by OJK to evaluate regarding banking commitments in disclosing sustainable finance in Indonesia. Research limitation/Implication: The weakness in this study is the measurement of sustainable finance disclosure using content analysis techniques so that there is an element of author subjectivity in it. For further research, it is hoped that several readers will be able to provide measurements related to the disclosure.

Amplifying the Influence of CSR Disclosure on Investment Inefficiency by Choosing Woman Directors: Is it Effective? Ulfah Tika Saputri; Fitri Agustina
Journal of Accounting and Investment Vol 23, No 2: May 2022
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Research Aims: The article was written with the intention to inspect the amplified impact of CSR disclosure by choosing women on the boards of directors in the companies on investment inefficiency. Design/Methodology/Approach: The sample studies were non-financial companies listed on IDX during 2018-2019 that published sustainability and annual reporting.Research Finding: This research revealed that, in the latest two years, overinvestment was done by most of the sample companies (76%). Hereafter, there was a negative effect on investment inefficiency due to the increasing corporate social responsibility disclosure. Nevertheless, women on the board of directors had no effect as moderating variable.Theoretical Contribution: This study adds literature on investment inefficiency issues, especially on amplifying the influence of corporate social responsibility disclosure on investment inefficiency by choosing women on the board of directors.Research Limitation: Very limited position on the board of directors for women in companies causes it to have no effect as a moderating variable. Moreover, this research did not categorize investment efficiency in the overinvestment and underinvestment schemes.

Performances of Crypto, Market Indexes, and Gold Before and During the COVID-19 Pandemic: A Comparative Analysis Safinatuz Zuhriyah; Wisnu Panggah Setiyono; Detak Prapanca
Journal of Accounting and Investment Vol 23, No 2: May 2022
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Research aims: This study aims to investigate empirical evidence of a comparison of investment instruments, including Bitcoin, Indonesia Composite Index (ICI), and gold, before and during the COVID-19 pandemic.Design/Methodology/Approach: Analytical methods employed comparison study using secondary data. The Microsoft Excel program was utilized to calculate formulas for each variable. Then, data were statistically processed using the SPSS application, i.e., independent sample test, testing for differences. The sample used in this study was the closing price of Bitcoin, the price of the ICI, and the price of gold, with monthly data from the beginning of January 2018 to the end of December 2021, to demonstrate a significant difference between the risks of Bitcoin, ICI, and gold before and during the COVID-19 pandemic.Research findings: The hypothesis test results revealed that before the COVID-19 pandemic, the investment risk of ICI and gold was the lowest, with a significance level of 0.000 (0.0000.05) on a different t-test at a 5% significance level. Thus, there was a significant difference in investment risk between ICI and gold. Meanwhile, during the COVID-19 pandemic, the risk of investing between Bitcoin and the ICI was the lowest, with a significance level of risk of was 0.000 (0.000 0.05) on different tests at the significance levels of 5%. In short, there was a big difference in investment risk between Bitcoin and the ICI.Theoretical contribution/Originality: This study provides additional literature on decision-making, especially on risk.

Corporate Social Responsibility (CSR) Disclosure on Politically Connected-Family Firms Diarany Sucahyati; Iman Harymawan; Mohammad Nasih
Journal of Accounting and Investment Vol 23, No 2: May 2022
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Research aims: This study examines the relationship between political connections and family ownership toward CSR activities disclosure.Design/Methodology/Approach: This study employed 624 Indonesian public companies on the Global Reporting Initiative (GRI) list for 2010-2018. The researchers used OLS (Ordinary Least Squares) regression by considering the fixed effect diversity of industry, year, and type of GRI to examine the relationship between political connections and family ownership on CSR disclosure.Research Findings: This study discovered that companies with political connections disclosed more CSR activities because they desired to bind themselves with the government, instruments of legacy, and social motivation. However, family firms were not found to have a significant relationship with CSR disclosure. In addition, the strong family ownership in the firm impacted the reduced strength of political connections, thereby reducing the company's CSR activities disclosure. Theoretical contribution/Originality: This study is interesting because the researchers combined the issue of the politically connected board and family firms, which are frequently found in the context of Indonesian companies. The researchers expect this study to enhance corporate board characteristics and CSR disclosure literature. Practically, the researchers expect this study could provide useful information for investors to make investment decisions. Furthermore, this study provides insight for regulators, who need a view of how political connections and family companies exist in responding to the regulations they set. Therefore, the existing regulations can be improved. Yet, this study was limited to the proxy of political connection based on local regulation of politically exposed person (PEP).

Government Expenditure and Economic Growth in Vietnam: Does Public Investment Matter in The Long-Term? Hoa Thi Nguyen
Journal of Accounting and Investment Vol 23, No 2: May 2022
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Research aims: This study focuses on the correlation between public investment, current expenditure and payment for government debt, and economic growth in short-run and long-run estimations.Design/Methodology/Approach: Macro data of Vietnam in the period 1991-2020 were extracted from the World Bank and the Vietnam General Statistics Office. This research employed the Autoregressive Distributed Lag (ARDL) for time series.Research findings: The results of this study uncovered that an improvement in public investment could enhance economic growth; it is also true of the government’s current spending. However, it is worth noting that the coefficients of changes in public investment and government current spending reduced the economic growth change in one and two periods ago. Moreover, debt payment was found to have a negative effect on the economy at all lags with different levels of significance.Theoretical contribution/Originality: This study provides empirical evidence on the role of government spending in economic growth, thereby confirming that Keynesian theory still holds in the case of Vietnam. The study also verifies the vital role of government activity in regulating economic development through investment and expenditure.Practitioner/Policy implication: Some important implications for policymakers focusing on government spending are: (i) The government needs to have an investment strategy that focuses on the important areas, such as infrastructure and technology foundation. (ii) Government needs to improve accountability and transparency in the management. (iii) Supportive policies on capital, technology, human resources, and the market must be continued to encourage economic investment activities. (iv) The selection, evaluation, and approval of investment portfolios should be carefully and appropriately made.Research limitation: This study was limited by looking at the overview of government spending with economic growth, ignoring the spending structure due to the lack of necessary data. Therefore, the following studies need to clarify the spending structure of Vietnam to determine which expenditure types have negative/positive impacts on economic growth, thereby providing incentive solutions and necessary support from the government.

Fundamental Factors of Financial Ratios and Discretionary Accruals in Influencing the Companies’ Fixed-Asset Investment Decisions Evangeline Rosa; Hasan Mukhibad
Journal of Accounting and Investment Vol 23, No 2: May 2022
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Research aims: This study aims to empirically prove the influence of profitability, solvency, liquidity, activity, dividend policy, and discretionary accruals on fixed-asset investment decisions.Design/Methodology/Approach: The researchers used consumer goods companies listed on the Indonesia Stock Exchange (IDX) from 2013 to 2019. Using the purposive sampling method, this study resulted in 163 bank-year observations. The data were then analyzed utilizing a fixed-effect model.Research findings: The results showed that profitability, liquidity, activity, and discretionary accruals positively affected fixed-asset investment. Meanwhile, the dividend policy negatively affected fixed-asset investment. This study strengthens the pecking order theory. In addition, the research sample used internal funds as a funding source for investment in fixed assets.Theoretical contribution/Originality: The variable added in the study distinguishing it from previous researchers is the discretionary accrual variable. Discretionary accruals have been proven to impact resource allocation, one of which is investment decisions. The additional discretionary accruals variable is expected to strengthen the influence of the consumer goods companies' fundamental factors on investment decisions in fixed assets.Practitioner/Policy implication: Investment in fixed assets in the consumer goods companies uses internal funds because these funds are low risk and support the company's sustainability.Research limitation/Implication: This study used dividend policy as one of the independent variables, and companies that did not distribute dividends could not be sampled.

The Role of Baitul Maal Wat Tamwil Financing and Business Coaching on Business Development and Welfare Improvement of Micro Traders in Traditional Markets Emile Satia Darma; Syafira Firdaus Lisfebrianty Handoyo
Journal of Accounting and Investment Vol 23, No 2: May 2022
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Research aims: This study aims to analyze the role of financing and business coaching in BMT (Baitul Maal Wat Tamwil). The role of financing and business coaching focused more on its impact on business development and improved welfare of BMT members who carried out financing. BMT members here were specifically from micro-enterprises by traditional market traders.Design/Methodology/Approach: Market traders used as objects were still micro-scaled in traditional markets in Purworejo Regency, Central Java. In this study, the obtained data that could be processed were 72 respondents from 18 traditional markets. Then, the analysis tool used Structural Equation Modeling (SEM) – Variance Based. Research findings: The results of this study exhibited that business coaching had a significant positive effect on business development and welfare improvement of traditional market traders who were still on a micro-scale. The development of these businesses also affected the improvement of their welfare. However, BMT financing did not affect traditional market traders' business development and welfare improvement.Theoretical contribution/Originality: This study applied Community Development Theory and Constructive Perception Theory to BMT members' perceptions of business development and welfare improvement. The assessment of business development and welfare improvement was based on the respondents' perceptions, not on numerical standards that came from outside. It is hoped that in this way, the sustainability of the role of BMT towards its members will be more maintained and objective.Practitioner/Policy implication: An important implication of this study's results is that BMT's business coaching for its members, even with relatively small financing, will positively impact their perception of business development and welfare improvement. It can be used to create a better relationship between BMT and its members.Research limitation/Implication: The limitation of this study is that it only used the business coaching variable as a BMT coaching tool for its members. It is also possible that other variables can be used as a tool to maintain good relations between BMT and its members.

Evaluating The Effect of Fair Value Adjustments to Investment Property Based on Profitability Ratios Anet Smit; Beitske Van der Niet; Martin Botha
Journal of Accounting and Investment Vol 23, No 2: May 2022
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Research aims: The aim of the study was to determine whether fair value adjustments to investment property affect the profitability ratios of listed companies. Design/Methodology/Approach: To investigate the problem, a brief literature overview of performance analysis through ratio calculations, as well as fair value measurement are discussed. These discussions are based on the International Financial Reporting Standards (IFRS), IFRS 13 and International Accounting Standards (IAS), IAS 40. IAS 40 addresses how the value of investment property may be recognised through the fair value model. To determine whether the recognition of fair value adjustments affect the profitability ratios of sampled companies, the Wilcoxon rank test and Cohen’s d-value were used as statistical measures to fulfil this objective. The Top 40 companies as listed on the Johannesburg Stock Exchange (JSE) in South Africa were populated, and judgment sampling was applied to calculate the sampling frame.Research findings: The results demonstrate that 50% to 75% of the sampled companies had profitability ratios, which were impacted by the recognition of fair value adjustments. These findings are relevant to potential investors who need to interpret financial ratios to improve investment decisions. Finally, the study recommends that the prospective investor eliminate fair value adjustments when profitability ratios are calculated.Theoretical contribution/Originality: The contribution of the study is that fair value adjustments (favourable or unfavourable) relating to IAS 40 affect the decisions taken by users of the financial statements. Substantial changes to profit or loss and/or investment property significantly impact ratio analysis outcomes and, therefore, investor decision making. The research contributes to the use of fair value adjustments and its impact on profitability ratios. Practitioner/Policy implications: Regulators may benefit from the findings when considering regulatory reforms of accounting practices as well as the disclosures required that assist the users of financial statements.

The Impact of Ownership Structure on CSR Disclosure: Evidence from Indonesia Peni Nugraheni; Arum Indrasari; Noradiva Hamzah
Journal of Accounting and Investment Vol 23, No 2: May 2022
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Research aims: When stakeholders want to invest in a company, CSR is one of the concerns. Thus, this study aims to examine the effect of ownership structure on corporate social responsibility disclosure in Indonesian companies. The ownership structure in this study consisted of managerial ownership, institutional ownership, public ownership, and foreign ownership.Design/Methodology/Approach: The samples in this study were companies listed on the Indonesian stock exchange from 2017 to 2019 that belonged to the sensitive industry category. The ownership structure comprised managerial ownership, institutional ownership, public ownership, and foreign ownership. CSR disclosure was measured using the Global Reporting Initiative (GRI). The data were then analyzed using panel data regression.Research findings: The results showed that institutional ownership positively affected CSR disclosure, while managerial, foreign, and public ownership did not affect CSR disclosure. Theoretical contribution/Originality: The company’s organs, including ownership structure, are expected to encourage companies to be more active in conducting CSR and disclosing it in company reports. However, while many ownership structures do not affect CSR, stakeholders and regulators need to encourage other instruments that can be used to increase CSR disclosure.

Page 1 of 2 | Total Record : 11

1 2

Filter by Year

2022 2022

Filter By Issues

All Issue Vol. 26 No. 2: May: 2025 Vol. 26 No. 2: May 2025 Vol. 26 No. 1: January 2025 Vol. 25 No. 3: September 2024 Vol 25, No 3: September 2024 Vol. 25 No. 2: May 2024 Vol 25, No 2: May 2024 Vol 25, No 1: January 2024 Vol. 25 No. 1: January 2024 Vol. 24 No. 3: September 2023 Vol 24, No 3: September 2023 Vol. 24 No. 2: May 2023 Vol 24, No 2: May 2023 Vol 24, No 1: January 2023 Vol 23, No 3: September 2022 Vol 23, No 2: May 2022 Vol 23, No 1: January 2022 Vol 22, No 3: September 2021 Vol 22, No 2: May 2021 Vol 22, No 1: January 2021 Vol 21, No 3: September 2020 Vol 21, No 2: May 2020 Vol 21, No 1: January 2020 Vol 20, No 3: September 2019 Vol 20, No 2: May 2019 Vol 20, No 1: January 2019 Vol 19, No 2: July 2018 Vol 19, No 1: January 2018 Vol 18, No 2: July 2017 Vol 18, No 1: January 2017 Vol 17, No 2: July 2016 Vol 17, No 1: January 2016 Vol 16, No 2: July 2015 Vol 16, No 1: January 2015 Vol 15, No 2: July 2014 Vol 15, No 1: January 2014 Vol 14, No 2: July 2013 Vol 14, No 1: January 2013 Vol 13, No 2: July 2012 Vol 13, No 1: January 2012 Vol 12, No 2: July 2011 Vol 12, No 1: January 2011 Vol 11, No 2: July 2010 Vol 11, No 1: January 2010 Vol 10, No 2: July 2009 Vol 10, No 1: January 2009 Vol 9, No 2: July 2008 Vol 9, No 1: January 2008 Vol 8, No 2: July 2007 Vol 8, No 1: January 2007 Vol 7, No 2: July 2006 Vol 7, No 1: January 2006 Vol 6, No 2: July 2005 Vol 6, No 1: January 2005 Vol 5, No 2: July 2004 Vol 4, No 2: July 2003 Vol 4, No 1: January 2003 Vol 3, No 2: July 2002 Vol 3, No 1: January 2002 Vol 2, No 2: July 2001 Vol 2, No 1: January 2001 Vol 1, No 2: July 2000 Vol 1, No 1: January 2000 More Issue

Home Page

OAI Link

Editorial Team

Contact

Reviewer

Google Scholar

Contact Name
-

Contact Email
-

Phone
-

Journal Mail Official
-

Editorial Address
-

Location
Kab. bantul,

Daerah istimewa yogyakarta

INDONESIA

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Home Page

OAI Link

Editorial Team

Contact

Reviewer

Google Scholar

Contact Name -

Contact Email -

Phone -

Journal Mail Official -

Editorial Address -

Location Kab. bantul, Daerah istimewa yogyakarta INDONESIA

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Contact Name
-

Contact Email
-

Phone
-

Journal Mail Official
-

Editorial Address
-

Location
Kab. bantul,

Daerah istimewa yogyakarta

INDONESIA