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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 15 Documents

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Search results for , issue "Vol 24, No 1: January 2023" : 15 Documents clear

Relevance of Earnings Value, Book Value, and Operating Cash Flow in Manufacturing Companies in Indonesia Dwi Fitri Puspa; Ietje Nazaruddin; Resti Yulistia M; Arie Frinola Minovia
Journal of Accounting and Investment Vol 24, No 1: January 2023
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Research aims: This study examines the value relevance of accounting information consisting of earnings information, book values, and operating cash flows after Indonesia uses the full convergence of IFRS Financial Accounting Standards.Design/Methodology/Approach: The value relevance test was conducted using Ohlson's (1995) pricing model and Easton and Harris' (1991) return model. The valuation model test employed two regression equations, i.e., testing the relationship between earnings information and book value with stock prices and then testing the relationship between earnings information, book value, and cash flow with stock prices. In addition, the return model testing was performed to examine the relationship between earnings information and earnings changes with stock returns and the relationship between cash flow and cash flow changes with stock returns. The research sample was 105 manufacturing companies, with a research period from 2016 to 2019.Research findings: The test results with the pricing model approach revealed that earnings and cash flow had value relevance, while book value had no value relevance. This study’s results suggest that earnings and cash flow information are helpful for investors in making investment decisions. Moreover, the test results with the return model approach also uncovered those earnings, changes in earnings, and changes in operating cash flows had value relevance while operating cash flows, on the other hand, had no value relevance.Theoretical contribution/Originality: The utilized two models complement each other, and this study provides empirical evidence for standard setters who can renew beliefs about how much accounting information is reflected in stock prices in Indonesia, especially the manufacturing sector, after the full convergence of IFRS Financial Accounting Standards is applied.

Investor’s Learning Style and Knowledge Acquisition Dimension: The Role of ICT in Maximising Knowledge Acquisition Muhammad Adlin Saputra; Caraka Hadi
Journal of Accounting and Investment Vol 24, No 1: January 2023
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Research aims: This study investigates investor learning style in acquiring knowledge moderated by Information and Communications Technology (ICT).Design/Methodology/Approach: This study performed an online survey method, comprising 263 convergent-type and 210 assimilative-type as the final sample. The Structural Equation Model using Smart-PLS was employed to estimate the relationship of the latent variableResearch findings: The regression results revealed that convergent-type investors positively affected all knowledge acquisition dimensions due to their high experience and knowledge compared to assimilative-type, even with the help of ICT.Theoretical contribution/Originality: This research discloses comprehensive constructs of sophisticated and unsophisticated investors in acquiring knowledge. Widely, it contributes to the literature advancement related to investor learning style, knowledge acquisition, and the role of ICT.Practitioner/Policy implication: It can be used as an ideal individual construct in learning that can be embraced by financial consultants, capital market training institutions, and professional education. Thus, they are also responsible for developing investors' skills, especially novice investorsResearch limitation/Implication: This study did not fully capture the exact participants’ learning styles. Thus, future research is hoped to provide experimental approaches, reaching the natural cause-effect measurement of investor learning style and knowledge acquisition.

Determinants of Financial Decisions of Millennial Generation in Islamic Banking: Does Islamic Branding Matter? Abid Djazuli; Muhammad Ridhwan Ab Aziz; Mister Candera; Darma Yanti
Journal of Accounting and Investment Vol 24, No 1: January 2023
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Research aims: This study aims to determine the financial decisions of the millennial generation by considering the Islamic financial literacy variables, reflected by the financial behavioral, knowledge, and attitude variables, and Islamic branding as a mediating variable.Design/Methodology/Approach: The approach used in this study was empirical. Utilizing questionnaires distributed through various online media, the data were collected. The research samples included the millennial generation in South Sumatra, filtered using a purposive sampling technique. To evaluate the hypotheses, Structural Equation Modeling (SEM) was employed. Research findings: The study findings highlighted that Islamic financial literacy directly had a positive and significant impact on the financial decisions of the millennial generation in South Sumatra. Islamic branding could also mediate (partial mediation) the influence of Islamic financial literacy on financial decisions. Theoretical contribution/Originality: This finding can be used as a reference for companies to increase the number of customers and investors, especially among the millennial generation. Specifically, Islamic branding can be recommended as one of the sharia banking business strategies to improve the financial decisions of the millennial generation.Research limitation/Implication: This study was only conducted in South Sumatra, making the result not quite strong in terms of external validity.

Disclosure of Internal Audit Functions of Islamic Banks in Indonesia Muhammad Nur A. Birton; Ari Ermawati; Ektinahati Ektinahati; Muhammad Muttaqin
Journal of Accounting and Investment Vol 24, No 1: January 2023
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Research aims: In the massive emerging development of the Islamic financial industry, the role of the internal audit function is in the spotlight as governance is the main issue of this industry’s sustainability. This study, therefore, aims to reveal the role of the internal audit function of Islamic banks in Indonesia.Design/Methodology/Approach: The study employed secondary data from annual and Good Corporate Governance (GCG) reports from Islamic banks in Indonesia to be analyzed with the qualitative content analysis by Schreier.Research findings: The researchers highlighted that the GCG and annual reports could uncover the role of internal audits in Islamic banks. The scope of an internal audit is divided into three essential activities: preparation of work program plans, implementation, monitoring, and follow-up on findings. In comparison, the authority is to communicate with the board of directors, board of commissioners, and audit committee, including the Sharia Supervisory Board (SSB), regarding sharia compliance.Theoretical contribution/Originality: Sharia compliance ensures the soundness and credibility of the Islamic ﬁnance industry. This study identified the role of the internal audit functions of Islamic banks using qualitative content analysis for the first time. Therefore, this study is unique in how the disclosure of internal audit function is presented.Research limitation/Implication: This study was limited in a deeper understanding of the findings as it was based on secondary data analysis. However, the researchers provide vital insights on control conduct of the role played by internal auditors of Islamic banks to satisfy every qualification needed as the role played by internal auditors is vital to pursue GCG principles.

Analysis of Pangandaran Regency Government’s Performance Accountability Strengthening Iman Teguh; Abdul Halim
Journal of Accounting and Investment Vol 24, No 1: January 2023
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Research aims: This study aims to analyze the Pangandaran Regency Government’s performance accountability strengthening, which took place relatively quickly, and identify performance accountability strengthening plans for the coming period.Design/Methodology/Approach: This research used a qualitative and case study approach to achieve the research objectives. Data collection techniques employed were in-depth interviews and documentation.Research findings: The analysis results showcased that Pangandaran Regency Government’s performance accountability strengthening was dominated by coercive and mimetic isomorphism, but the phenomena move towards normative isomorphism. This study also uncovered that the plan to strengthen performance accountability for the next period formed a specific pattern over time.Theoretical contribution/Originality: This research also provides an academic contribution as a reference regarding performance measurement systems and the institutional isomorphism phenomenon.Practitioner/Policy implication: This research provides a practical contribution to the Pangandaran Regency Government and other local governments that still have professional problems in strengthening performance accountability. Research limitation/Implication: This study has limitations, i.e., in the discussion of the Pangandaran Regency Government’s performance accountability strengthening plan, in which this research had not been accompanied by a review of the Pangandaran Regency Government's Regional Medium Term Development Plan (RPJMD) for 2021-2026. It was because when researchers collected data, the RPJMD was still in preparation.

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