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INDONESIA
Journal of Accounting and Investment
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 20 Documents
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Search results for , issue "Vol 24, No 3: September 2023" : 20 Documents clear
Credulous on accountability at LaaRiba community: A tasawuf critical reflection Muhammad Irfan Tarmizi; Muhammad Nur Abdullah Birton; Muhammad Muttaqin
Journal of Accounting and Investment Vol 24, No 3: September 2023
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jai.v24i3.19284

Abstract

Research aims: Accountability is a form and mechanism of responsibility that applies to all activities at the level of individuals, organizations and the social world. This study aims, first, to explore the meanings and values that underlie the collective awareness of members and administrators of the LaaRibaa Community in actualizing accountability in financial reporting; second, providing a critical reflection on the awareness and practices of accountability within the LaaRibaa community.Design/Methodology/Approach: This study applies Milles and Huberman's qualitative approach, modified with critical reflection through tasawuf concepts by Haji Abdul Malik Karim Amrullah (HAMKA). Data were collected through interviews with committees and members as well as observations on the documents. Data analysis includes the following steps: (1) data reduction, (2) data presentation, and (3) verification using the HAMKA’s tasawuf concept as an analytical tool.Research findings: The results show that the LaaRiba community's financial accountability model is influenced by many values. Al-Qur'an and hadith as fundamental values; trustworthiness and sincerity as substantial values; and please Allah (ﷻ) as the ultimate goal of managers and community members. However, this principle of trustworthiness and sincerity is practiced credulously, both from their position as public auditors and from the perspective of HAMKA's tasawuf concepts which are ihlas (sincerity) and amanah (trustworthy) (Islamic accountability).Theoretical contribution/Originity: This study found an inconsistency in the attitudes of community members or managers, on their daily occupation of being public auditors, they were very strict on the principles of accountability, but not accordingly when they act as community members or managers. This result strengthens previous findings which show a weak commitment to accountability in Islamic social institutions.Practitioner/Policy implication: To the managers of the LaaRiba community, there are three aspects that need to be fixed immediately. First, the legality of the community, so that there is legal certainty. Second, the position of the waqf contract needs to be reviewed so that it does not violate its purpose. Third, the accountability of financial reports needs to be improved in accordance with generally accepted accounting principles in Islamic social institutions
Semiotics of audit quality: a meta-analysis perspective Saifudin Saifudin; Indira Januarti
Journal of Accounting and Investment Vol 24, No 3: September 2023
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jai.v24i3.19390

Abstract

Research aims: The purpose of this study is to identify the semiotics of the relationship between audit fees and audit quality.Design/Methodology/Approach: A quantitative method using meta-data analysis was employed with ten selected research articles from 113 sample articles.Research findings: The results demonstrated that a semiotic analysis of audit quality with a meta-analysis approach has been carried out, revealing that the audit fee variable had a relationship with audit quality and was strengthened by the size variable. The existing data heterogeneity problem was reduced after the size variable was included in the meta-analysis regression analysis, so it was reduced even though it had not been significantly reduced.Theoretical contribution/Originality: The semiotics of the relationship between audit fees and audit quality exist.Practitioner/Policy implication: This study contributes to paying attention to critical factors in improving audit quality.Research limitation/Implication: This study's limitations are that it could not reach the 95% data confidence coefficient level since the data used were still not much, and the size variable could not reduce data heterogeneity to the maximum.
Kaizen internal quality assurance adoption and quality performance improvement in Indonesian higher education institutions: The moderating role of IT development Hafiez Sofyani
Journal of Accounting and Investment Vol 24, No 3: September 2023
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jai.v24i3.19587

Abstract

Research aims: In 2018, strengthening Higher Education Institutions (HEIs), governance began to be promoted again by the Indonesian government after its first initiation in 2003. In doing so, the Indonesian government has adopted a new internal quality assurance framework for HEIs, i.e., the Kaizen method, which emphasizes the quality improvement process. In addition, the government recommended the development of IT advancement to support management practices at the HEIs, including internal quality assurance. However, to this day, related research that examines the extent to which these policies contribute to HEI quality performance improvement still needs to be improved. To meet the gap, the current study examined the Kaizen internal quality assurance implementation role on HEI quality performance by testing the IT development as a moderator.Design/Methodology/Approach: Using data from 191 HEI samples obtained from 31 of 34 provinces in Indonesia, the relationship between variables was tested by employing the Partial Least Square (PLS) technique.Research findings: The results exhibited that the Kaizen internal quality assurance implementation was positively associated with HEI quality performance, where IT development strengthened the relationship (moderated). However, since the direct relationship between IT development and HEI quality performance was also significant, the moderating role of IT development was quasi in nature.Theoretical contribution/Originality: The results provide new insights regarding the contributions of internal quality assurance reform supported by IT development to the HEI quality performance. Specifically, the study affirms the role of IT as a moderator.
The organizational climate in Indonesian Islamic banks: A conceptual determination for organizational growth Muhammad Bahrul Ilmi
Journal of Accounting and Investment Vol 24, No 3: September 2023
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jai.v24i3.18522

Abstract

Research aims: This study aims to investigate the growth of Indonesian Islamic banks and explore the determinants of organizational growth from different perspectives through climate factors, namely clarity, standard, commitment, communication, responsibility and teamwork, and support. The study also attempts to develop a model to measure the growth of Islamic banking institutions. Only limited studies have thus far explored this issue, with this study trying to fill the gap.Design/Methodology/Approach: This paper drew upon theories and arguments from the “climate” and “growth” areas and identified organizational climate as one of the main topics affecting Islamic banks. Grounded in a review of the mutual impact of organizational climate and growth constructs, the authors developed research propositions and discussed the implications of the proposed relationships for both.Research findings: Despite Islamic banks having been established and prospered for 28 years, supported by Indonesia having the largest Muslim population of any country in the world, the development of Islamic banks in Indonesia has been inferior to that of conventional banks. This paper argues that organizational climate must be considered an important factor in enhancing Indonesian Islamic banks' quality. It is because the essence of its climate may help an organization become more effective and generate a better perception, with the climate being used to improve the organization’s quality of management.Theoretical contribution/Originality: By combining the aspects of “climate” and “growth” from earlier studies and categorizing them by organizational studies and a comprehensive literature review, this study proposes a model specific to the banking institution. The study offers a conceptual model for the organizational climate in Islamic banking institutions and argues that organizational climate can be used to determine organizational growth in Indonesian Islamic banks.Practitioner/Policy implication: Based on its proposed conceptual model, this study is expected to contribute knowledge of Indonesian Islamic banks, policies, stakeholders, regulators, and government. The research explores various related studies in organizational growth from a climate perspective. Further, this study's results will be of significant practical assistance to the managers of Islamic banks and policymakers in developing climate mechanisms for Islamic banking growth. Moreover, this study significantly contributes to economic growth's sustainability and enhances banks’ growth.Research limitation/Implication: While several factors may be used to predict and determine growth, this study used climate factors to determine the growth of Islamic banking institutions. Thus, it is necessary to explore various factors to develop further studies and add new insight to determine organizational growth.
The role of financial distress and fraudulent financial reporting: A mediation effect testing Reskino Reskino; Aditia Darma
Journal of Accounting and Investment Vol 24, No 3: September 2023
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jai.v24i3.18397

Abstract

Research aims: This study examines the determinants of fraudulent financial reporting with financial distress as an intervening agent.Design/Methodology/Approach: The banking companies listed on the Indonesia Stock Exchange (IDX) between 2017 and 2020 comprised the study's population. One hundred-four companies comprised the entire sample, which was chosen using purposive sampling. The approach employed in this study was partial least squares (PLS)-SEM.Research findings: The results of this study found that financial targets and audit quality significantly affected financial distress. Financial distress had a significant effect on fraudulent financial reporting. Financial targets and audit quality had no significant effect on fraudulent financial reporting. Furthermore, audit quality significantly affected fraudulent financial reporting through financial distress. Financial targets did not significantly influence fraudulent financial reporting through financial distress.Theoretical contribution/Originality: This study provides literature on the role of financial conditions and good corporate governance in preventing fraudulent financial reporting in banking companies. This study can be an insight for practitioners and academics in Indonesia and internationally. Apart from that, this study contributes to the literature on the occurrence of fraudulent financial statements mediated by financial distress, which is not widely discussed, specifically in the context of the banking industry in developing countries.Practitioner/Policy implication: The practical implication in this research is the importance for investors and creditors to be more vigilant and pay attention to corporate governance and financial conditions to reduce errors in decisions based on financial reports. In addition, the strength of good corporate governance indicates that the supervision carried out by management will take the information conveyed to stakeholders free from material misstatement so that the implementation of good corporate governance can prevent fraud. Research limitation/Implication: This study exclusively includes companies in the banking sector listed on the Indonesia Stock Exchange (BEI) between 2017 and 2020. Out of 46 companies, only 26 may be used as research objects according to the purposive sampling method.
Earnings management in times of crisis: A political cost hypothesis Harina Paramastri; Sari Atmini; Aulia Fuad Rahman
Journal of Accounting and Investment Vol 24, No 3: September 2023
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jai.v24i3.19610

Abstract

Research aims: The COVID-19 pandemic disrupted multiple industries, including chemistry, pharmaceuticals, telecommunications, and healthcare. This study, thus, explores how these sectors managed their earnings concerning political factors during the pandemic. Since these sectors play a critical role in maintaining business stability during this period, the authors hypothesize that some companies within them may have manipulated their profits.Design/Methodology/Approach: This study used quantitative methods to analyze a sample of companies in the chemical, pharmaceutical, telecommunications, and healthcare sectors listed on the Indonesia Stock Exchange from 2018 to 2022. Out of 60 companies, 20 met the criteria. The authors then tested the political costs hypothesis using Kotari et al.'s (2005) calculation method and a discrimination test for discretionary accrual values.Research findings: The findings reveal that some companies practiced earnings management with varying degrees across sectors. Notably, not all companies employed revenue reduction as a manipulation tactic. Significant differences were observed between the pre-pandemic and pandemic periods. It is worth highlighting that not all COVID-19 beneficiaries resorted to earnings management to access government incentives or facilities.Theoretical contribution/Originality: The findings of this research offer empirical evidence from both a theoretical standpoint and an analysis of the financial status of the involved companies.Practical/Policy Implication: This study aims to investigate if companies manipulated earnings during the COVID-19 pandemic by intentionally reducing their profits when their sectors were thriving due to the pandemic.Research Limitation: This research is limited by its use of quarterly data, incomplete data for some companies, and a reliance on existing data rather than current information collection.
Social and environmental disclosure in Indonesia: Does ownership matter? Nurnika Asri Dewi; Setianingtyas Honggowati
Journal of Accounting and Investment Vol 24, No 3: September 2023
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jai.v24i3.18740

Abstract

Research aims: This study aims to analyze the effect of ownership structure on social and environmental disclosure in the annual reports of companies in Indonesia.Design/Methodology/Approach: This study used 208 panel data from 52 companies in the mining and real estate and building construction sectors. The dependent variable in this study was obtained by analyzing the content of the company's annual report. The hypothesis in this study was then tested using multiple linear regression.Research findings: The regression test results revealed that institutional ownership and managerial ownership had a significant effect on social and environmental disclosure. In contrast, multiple large shareholder structures (MLSS) had an insignificant effect on social and environmental disclosure.Theoretical contribution/Originality: This study enriches the literature about social and environmental disclosure with a new approach named SEDI. In addition, this research contributes to the scrutiny of the effect of MLSS on social and environmental disclosure, especially in the Indonesian context. This study also provides empirical evidence on the influence of ownership structure on social and environmental disclosure.Research limitation/Implication: This research was only limited to companies with many contacts with social and environmental issues, namely mining, agriculture, and real estate and building construction. Meanwhile, other companies are expected to be scrutinized in future research.
Improving the performance of baitul maal wat tamwil (BMT) employees: Do the principles of good corporate governance (GCG) matter? Peni Nugraheni; Candra Dewi Nasiroh
Journal of Accounting and Investment Vol 24, No 3: September 2023
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jai.v24i3.19034

Abstract

Research aims: The role of human resources in Baitul Maal wat Tamwil (BMT) is vital as it is the main driver of all company activities in achieving its goals. This study, therefore, aims to examine the influence of corporate governance (CG) principles on employee performance in BMT.Design/Methodology/Approach: The object of this study was BMTs in Yogyakarta Province, with the respondents being BMT employees. The data collection technique employed a questionnaire measured by five Likert scales. The data in this study were then processed using the multiple linear regression method.Research findings: The study uncovered that all CG principles, i.e., transparency, accountability, responsibility, independence, and fairness, positively influenced employee performance.Theoretical contribution/Originality: This study contributes to the development of BMT management in Indonesia to start or improve the implementation of corporate governance since it positively impacts employee performance.Practitioner/Policy implication: BMT has challenges related to human resource competence. The organization (BMT) can evaluate the implementation of GCG in its operational activities because it can affect employee performance.Research limitation/Implication: The study only took samples from Yogyakarta Province. The physical distribution of questionnaires also limited the number of samples that could be collected.
ESG and firm performance: The role of digitalization Rizky Eriandani; Wahyu Agus Winarno
Journal of Accounting and Investment Vol 24, No 3: September 2023
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jai.v24i3.20044

Abstract

Research aims: This research aims to examine the impact of social, environmental, and governance (ESG) responsibilities on firm performance – books and markets. It also analyzes the role of digitalization in the relationship between ESG and firm performance.Design/Methodology/Approach: The population in this study was all companies listed on the Indonesian Stock Exchange in 2017-2021. The sampling technique used purposive sampling with a total sample of 347 firm-years. Testing hypotheses moderated regression analysis and subgroup analysis.Research findings: Empirical findings demonstrated that ESG responsibilities could improve company performance, both book performance and market performance. On the contrary, digitization could not boost the company's performance. Moreover, digitalization was unable to moderate the relationship between the two. However, when the samples were separated based on digitization variables, the results revealed that ESG had a positive impact on performance only in companies that adopted digital technology.Theoretical contribution/Originality: In addition to enriching literature related to agency and stakeholder theory, this research reinforces empirical evidence of the role of ESG in increasing the value of the company. The results also highlight digital adoption to support environmentally and socially responsible activities. Nevertheless, the impact of digitization on company performance has not been proven. This research contributes to the literature about ESG and digitalization that imply corporate value creation.Practitioner/Policy implication: This research contributes to corporate management to enhance social and environmental responsibility, as well as prompt adoption of digital technology.Research limitation/Implication: This research has some limitations. First, the sample was limited because not all companies in Indonesia had ESG scores in Bloomberg. Second, the measurement of digitalization on the sub-sample only used a dummy and did not differentiate the type of digitization that the company adopted.
Research trend on accountability and government performance: A bibliometric analysis approach
Journal of Accounting and Investment Vol 24, No 3: September 2023
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jai.v24i3.20307

Abstract

Research aims: This research aims to analyze the trends, map the conceptual structure, and present the picture of research direction on accountability and government performance topics.Design/Methodology/Approach: A bibliometric analysis was used to obtain a structured overview and the research trend on accountability and government performance domains. The authors used the Scopus database from 1983 to 2022 and got 214 published documents, which were then analyzed with VOSviewer software and “Scopus Analyze Search Results.”Research findings: This study uncovered a significant increasing trend in the number of publications on accountability and government performance research, from two documents in 1985 to eighteen documents in 2022. The USA is the most productive country publishing on accountability and government performance research, followed by the United Kingdom, Indonesia, China, Australia, Canada, Germany, Netherlands, Spain, and Italy. The keywords that can be used for further research related to accountability and government performance are e-government, transparency, local government, governance approach, performance management, and corruption.Theoretical contribution/Originality: Based on the best of the authors’ knowledge, this is the first paper that analyses the research trend on accountability and government performance with the use of bibliometric analysis. In addition, for exploring and analyzing large volumes of scientific research, the use of bibliometric analysis is a popular and rigorous method.Practitioner/Policy implication: The use of bibliometric analysis is essential to identify research gaps and look for themes or terms and become a potential direction to explore the relationship of each term.

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