Journal of Accounting and Investment
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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<![CDATA[Corporate governance and cost of equity capital: the mediation role of accounting conservatism ]]>
<![CDATA[Jacobus Widiatmoko]]>;
<![CDATA[Maria Goretti Kentris Indarti]]>
<![CDATA[ Journal of Accounting and Investment Vol. 25 No. 3: September 2024 ]]>
Publisher : <![CDATA[Universitas Muhammadiyah Yogyakarta, Indonesia ]]>
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DOI: 10.18196/jai.v25i3.21977
<![CDATA[Research aims: This study examines the effect of corporate governance as proxied by institutional and managerial ownership and profitability on the cost of equity capital, both directly and indirectly, through accounting conservatism as a mediating variable.Design/Methodology/Approach: The population of this study was manufacturing companies listed on the Indonesia Stock Exchange in 2020–2022. The sample selection was carried out using the purposive sampling method, resulting in 230 data points and then tested using multiple linear regression.Research findings: Institutional ownership and profitability were revealed to have a positive influence on accounting conservatism, while managerial ownership had no influence. Profitability and accounting conservatism exerted a negative effect on the cost of equity capital. However, institutional ownership generated a positive effect, but managerial ownership did not affect the cost of equity capital. Further test results uncovered that the impact of institutional ownership and profitability on the cost of equity capital was mediated by accounting conservatism.Theoretical contribution/Originality: The findings of this research enrich previous research regarding the economic consequences of corporate governance, profitability, and accounting conservatism in equity markets in developing countries, especially Indonesia.Practitioner/Policy implication: The results of this research can be used as consideration for investors in developing country capital markets when making investment decisions.Research limitation/Implication: This research has limitations, including the relatively low adjusted R2 value. Proxies for corporate governance from ownership and board structure should be included in future studies.]]>
<![CDATA[A literature review on work stress and audit quality reduction behavior: trend and future challenges ]]>
<![CDATA[Febrina Nafasati Prihantini]]>;
<![CDATA[Indira Januarti]]>;
<![CDATA[Darsono Darsono]]>
<![CDATA[ Journal of Accounting and Investment Vol. 25 No. 3: September 2024 ]]>
Publisher : <![CDATA[Universitas Muhammadiyah Yogyakarta, Indonesia ]]>
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DOI: 10.18196/jai.v25i3.22055
<![CDATA[Research aims: This research aims to identify research development on work stress and its impact on audit quality reduction behavior.Design/Methodology/Approach: This qualitative study used the systematics of the PRISMA protocol review to analyze relevant articles.Research findings: Some research has focused more on the causes of job stress and audit quality reduction behavior. However, recent research has begun to harness the positive potential of auditors to reduce work stress and audit quality reduction behavior.Theoretical contribution/Originality: This study contributes to the literature review on work stress and audit quality reduction behavior.Practitioner/Policy implication: This review is expected to help organizations understand developments and findings related to work stress and audit quality reduction behavior, as well as support the development of effective stress management programs in the auditor's work environment.Research limitation/Implication: This literature review focuses only on the impact of job stress on audit quality reduction behavior. Nevertheless, it is still possible that work stress can also impact other aspects beyond audit quality reduction behavior, such as auditor performance and auditor judgment.]]>
<![CDATA[Tourism seasonality and tax compliance of hotel and accommodation sector in Magelang Regency, Indonesia: Mediating role of intention to comply ]]>
<![CDATA[Suci Nasehati Sunaningsih]]>;
<![CDATA[Agustina Prativi Nugraheni]]>;
<![CDATA[Alex Johanes Simamora]]>;
<![CDATA[Budi Hartono]]>;
<![CDATA[Mumpuni Wahyudiarti Sitoresmi]]>
<![CDATA[ Journal of Accounting and Investment Vol. 25 No. 3: September 2024 ]]>
Publisher : <![CDATA[Universitas Muhammadiyah Yogyakarta, Indonesia ]]>
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DOI: 10.18196/jai.v25i3.22094
<![CDATA[Research aims: This research examined the effect of hotel and accommodation performance during peak seasons on tax compliance, especially tourism seasonality-based financial performance, intention to comply, and tax compliance behavior. This research also examined the effect of tourism seasonality-based financial performance on tax compliance behavior through intention to comply.Design/Methodology/Approach: The research sample includes 48 owners and top managers of hotels and accommodations in Magelang Regency. Questionaries measure the variable. Data analysis used structural equation modeling, which included the inner model, outer model, and path analysis.Research findings: Based on data analysis, tourism seasonality affected tax compliance in the hotel and accommodation sector. The peak season of tourism brought more revenues and cash, so hotels and accommodations could pay the tax and comply with tax regulations. Intention to comply mediated the effect of tourism seasonality-based financial performance on tax compliance behavior.Theoretical contribution/Originality: This research provided new evidence of peak season on tax compliance. This research also extended the ability to pay theory of taxation based on tourism seasonality. This research also evaluated regulations of Local Regulation of Magelang Regency No. 13 2010 and Regulation of Head of Magelang Regency No. 44 2012 in tourism seasonality since no regulation regulates seasonal tax system based on tourism seasonality for hotels and accommodation.]]>
<![CDATA[Does corporate social responsibility moderate the effect of earnings performance and institutional ownership on corporate tax avoidance? ]]>
<![CDATA[Suripto Suripto]]>;
<![CDATA[Dani Rahman Hakim]]>
<![CDATA[ Journal of Accounting and Investment Vol. 25 No. 3: September 2024 ]]>
Publisher : <![CDATA[Universitas Muhammadiyah Yogyakarta, Indonesia ]]>
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DOI: 10.18196/jai.v25i3.22124
<![CDATA[Research aims: This study examines the role of corporate social responsibility in moderating the effect of earnings performance and institutional ownership on corporate tax avoidance of companies in the Investors 33 index between the 2018-2022 period.Design/Methodology/Approach: This study developed and estimated two regression models with panel data of 165 observations. These models were estimated by the random effect estimator.Research findings: This study found that corporate social responsibility strengthens the negative effect of earning performance on corporate tax avoidance. Companies with high earnings performance and those more socially responsible are likely more compliant in paying taxes. It confirms the corporate culture theory in Indonesian companies with relatively high share performance. On the other hand, this study also uncovered that corporate social responsibility increases the positive effect of institutional ownership on corporate tax avoidance. The large percentage of institutional ownership balanced by more corporate social responsibility activities could trigger companies to engage in more significant tax avoidance. These findings indicate that institutional investors of 33 companies in the investors index are more oriented on returns than company reputation.Theoretical contribution/Originality: As far as known, this study is the first to explain the moderating role of corporate social responsibility on the effect of earnings performance and institutional ownership on corporate tax avoidance in the context of companies with high share performance.Practitioner/Policy implication: This study urges the government to supervise the corporate social responsibility activities issued by companies to ensure that they are not generated as a corporate tax avoidance motive .Research limitation/Implication: This study did not check for possible bias caused by outlier data. This study also did not control how institutional investors are represented on the board of commissioners, so the effect of IO tends to be difficult to explain based on this perspective. ]]>
<![CDATA[Green investment and firm value: Does corporate governance matter? ]]>
<![CDATA[Estu Widarwati]]>;
<![CDATA[Nabila Nur Rohmah]]>;
<![CDATA[E Wityasminingsih]]>;
<![CDATA[Nunik Nurmalasari]]>;
<![CDATA[Devy Widya Apriandi]]>;
<![CDATA[Mutqi Sopiawadi]]>
<![CDATA[ Journal of Accounting and Investment Vol. 25 No. 3: September 2024 ]]>
Publisher : <![CDATA[Universitas Muhammadiyah Yogyakarta, Indonesia ]]>
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DOI: 10.18196/jai.v25i3.22159
<![CDATA[Research aims: This study examines the effect of green investment on firm value with corporate governance moderation.Design/Methodology/Approach: Green investment is proxied by the green-firm investment ratio, Tobin's Q measures firm value, and corporate governance is proxied by board size. The sample is 34 companies receiving PROPER awards listed on the IDX for the 2017-2021 period from the primary material, consumer non-cyclical, and consumer cyclical sectors. The data were analyzed using panel data regression, T-test, and moderate regression analysis tests.Research findings: The results showed that green investment positively affects firm value. Meanwhile, this study has not found strong evidence about the moderation role of board size in the effect of green investment and firm value.Theoretical contribution/Originality: This research strengthened previous empirical evidence that companies' implementation of green investment activities will impact increasing firm value and board size as part of effective governance needs to be paid attention.Practitioner/Policy implication: This research has implications for companies to include green investment as an important investment decision because it is proven to be an advantage for companies to increase their valueResearch limitation/Implication: This research's determining factor for firm value is only green investment, and the corporate governance proxy only uses board size. Therefore, it is hoped that future research can explore other new models that consider industry characteristics, economic conditions in the research period, and other measures of the variables studied.]]>
<![CDATA[Crypto laundering prevention in Indonesia: The role of regulatory technology and financial intelligence unit ]]>
<![CDATA[Kharisma Fatmalina Fajri]]>;
<![CDATA[Dekar Urumsah]]>
<![CDATA[ Journal of Accounting and Investment Vol. 25 No. 3: September 2024 ]]>
Publisher : <![CDATA[Universitas Muhammadiyah Yogyakarta, Indonesia ]]>
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DOI: 10.18196/jai.v25i3.22170
<![CDATA[Research aims: In Indonesia, crypto laundering has become an emerging threat through digital payments since 2015. This study aims to elaborate the crypto laundering prevention through the utilization of regulatory technology (RegTech) and the role of the Financial Intelligence Unit (FIU). Design/Methodology/Approach: The study was conducted using a qualitative content analysis approach with the support of NVivo 12. Data was sourced from secondary data in the form of law documents that have been established and published by the Commodity Futures Trading Regulatory Agency (CFTR). Research findings: Crypto laundering prevention is implemented through Know Your Customer (KYC) and transaction monitoring based on a risk-based approach. Normatively, KYC and transaction monitoring should be implemented on RegTech-based face recognition for KYC and blockchain analytic tools for transaction monitoring. Furthermore, the findings revealed that the FIU in Indonesia is the Indonesian Transaction Report and Analysis Center (INTRAC) which has the authority to receive and conduct further analysis of transaction monitoring results. INTRAC conducts advanced analysis with a ‘follow the money’ approach. The existence of INTRAC’s role depends on the tools, technology, and human resources that represent it.Theoretical contribution/Originality: This study contributes to knowledge in the field of forensic accounting. The findings and discussions in this study provide valuable insights into the current contemporary accounting issues and their relationship with other disciplines.Practitioner/Implication: This study provides insights for regulators to collaborate with various experts from information technology and environmental fields regarding developing regulations and policies to prevent crypto laundering. Research limitation: The data used was only sourced from secondary data (regulatory documents), so the role of RegTech and FIU was only studied normatively.]]>
<![CDATA[Do obedience pressure and incentive affect whistleblowing? ]]>
<![CDATA[Fuadhillah Kirana Putri]]>;
<![CDATA[Dewi Kusuma Wardani]]>;
<![CDATA[Adam Damara]]>
<![CDATA[ Journal of Accounting and Investment Vol. 25 No. 3: September 2024 ]]>
Publisher : <![CDATA[Universitas Muhammadiyah Yogyakarta, Indonesia ]]>
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DOI: 10.18196/jai.v25i3.22308
<![CDATA[Research aims: This study aims to empirically test the effect of obedience pressure on whistleblowing intentions and the role of incentives in moderating the obedience pressure on whistleblowing intentions.Design/Methodology/Approach: The method of analysis used in this research is experimental to test empirically the phenomenon of the causal relationship between obedience pressure and incentives on whistleblowing. This study uses a sample of experimental class results of Accounting Study Program students at Sarjanawiyata Tamansiswa University.Research findings: This study indicates that obedience pressure has a significant effect on whistleblowing intentions. On the other hand, incentives do not strengthen the positive effect of obedience pressure on whistleblowing intentions because, under high pressure, employees will still do whistleblowing in the presence or absence of incentives.Theoretical contribution/Originality: The results of this study are expected to be useful for future researchers who will examine whistleblowing, especially those influenced by obedience pressure and incentives. Practitioner/Policy implication: This research is expected to be an input for the organisation to consider that incentive reward is not the only way to enhance staff’s motivation to do whistleblowing.Research limitation/Implication: The limitations of this study were that it used student subjects as research participants, the research instrument had not explicitly described the amounts of incentives provided by the company to whistleblowers, and only examined the role of incentives in moderating obedience pressure on whistleblowing intentions.]]>
<![CDATA[Understanding the students’ learning style to enhance the effectivity of learning method: a study on accounting students ]]>
<![CDATA[Nuzul Ibnu Hajar]]>;
<![CDATA[Jamaluddin Dahlan]]>;
<![CDATA[Khaerunnisa Ibnu Hajar]]>
<![CDATA[ Journal of Accounting and Investment Vol. 25 No. 3: September 2024 ]]>
Publisher : <![CDATA[Universitas Muhammadiyah Yogyakarta, Indonesia ]]>
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DOI: 10.18196/jai.v25i3.22685
<![CDATA[Research aims: The study aims to test the students’ learning style preferences and investigate the influence of the lecturer's teaching methods in the accounting study program.Design/Methodology/Approach: This study used the Quasi-Experimental method. This experiment research was a non-equivalent control group design joined by 552 students of the undergraduate accounting program. Every respondent completed a questionnaire regarding the individual learning style (pre-test and post-test) and filled out a score on the learning style that the lecturer had presented. Afterward, an independent sample t-test was conducted to test the relationship between students’ learning styles and the lecturer’s learning methods.Research findings: This study revealed that most students in the accounting program had a passive learning style rather than an active one. Additionally, the research found that active teaching methods were more effective for students with an active learning style compared to passive teaching methods for students with a passive learning style. There was no difference in learning styles between active and passive students under the two teaching methods because the student groups were not previously separated based on learning styles.Theoretical contribution/Originality: Understanding students' learning styles is essential to enhance the accuracy of lecturers' teaching methods in the teaching and learning process, particularly in accounting. Studies on evaluating students' learning styles and examining their relationship with lecturers' teaching methods have been widely conducted in other disciplines, except in accounting within the Indonesian context. It can provide new insights into the field of accounting education and behavior.]]>
<![CDATA[Intellectual capital on organizational performance through the mediation of intrinsic motivation in Indonesian universities ]]>
<![CDATA[Siti Fadhillah Nurazizah]]>;
<![CDATA[Dwi Irawan]]>;
<![CDATA[Ahmad Juanda]]>;
<![CDATA[Sukma Uli Nuha]]>
<![CDATA[ Journal of Accounting and Investment Vol. 25 No. 3: September 2024 ]]>
Publisher : <![CDATA[Universitas Muhammadiyah Yogyakarta, Indonesia ]]>
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DOI: 10.18196/jai.v25i3.23009
<![CDATA[Research aims: This research examines how intellectual capital affects organizational performance in Indonesian universities, focusing on the mediating role of intrinsic motivation. It highlights the importance of intrinsic motivation in enhancing the influence of human capital, structural capital, and relational capital in improving organizational effectiveness.Design/Methodology/Approach: This quantitative study used survey data from 123 employees at top-ranked Indonesian universities by webometrics, selected via simple random sampling. The data were analyzed using variance-based structural equation modeling (SEM) with a Partial Least Squares (PLS) approach.Research findings: The findings of this study revealed a significant positive relationship between intellectual capital and organizational performance in Indonesian universities after being fully mediated by intrinsic motivation.Theoretical contribution/Originality: The novelty of this research exhibits how intrinsic motivation from well-organized Self Determination Theory (SDT) can mediate the influence of intellectual capital on organizational performance in higher education. The results of this study provide valuable insights for increasing intrinsic motivation in strengthening intellectual capital.Practitioner/Policy implication: This study's findings suggest that Indonesian university management and policymakers should focus on optimizing intellectual capital by fostering intrinsic motivation to enhance organizational performance.Research limitation/Implication: The limitation of this research is that there are no differences between private and state universities in examining the effect of intrinsic capital on organizational performance. It also only considers intrinsic motivation, ignoring extrinsic motivation. Future research should include extrinsic motivation and explore other intellectual capital indicators for a comprehensive understanding of organizational performance in Indonesian higher education.]]>
<![CDATA[Disruptive innovation disclosure practices: Do board characteristics, ownership structure, and investor matter? ]]>
<![CDATA[Indrian Supheni]]>;
<![CDATA[Suyanto Suyanto]]>;
<![CDATA[Tiyas Puji Utami]]>
<![CDATA[ Journal of Accounting and Investment Vol. 25 No. 3: September 2024 ]]>
Publisher : <![CDATA[Universitas Muhammadiyah Yogyakarta, Indonesia ]]>
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DOI: 10.18196/jai.v25i3.23018
<![CDATA[Research aims: This study aims to analyze the effect of board characteristics, ownership structures, and investors on disruptive innovation disclosure in the annual reports of companies in Indonesia.Design/Methodology/Approach: This study used 237 cross-section data from 237 companies in the manufacturing 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 foreign ownership affected the disclosure of disruptive innovation in manufacturing companies. Other variables, such as characteristics of the board of commissioners, members and investors, did not affect the disclosure of disruptive innovation in manufacturing companies.Theoretical contribution/Originality: Disclosure of disruptive innovation is rarely done, but this study looks at disclosure from the stakeholder theory perspective in manufacturing companies.Research limitation/Implication: This study was only limited to manufacturing companies. Meanwhile, other companies are expected to be studied in further research. In addition, more observation data can be added to strengthen the research results.]]>
