cover
Article Per Year (5 Year)
All
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
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.
Arjuna Subject : -
Articles 11 Documents
 1   2 
Search results for , issue "Vol. 27 No. 1 (2026): January 2026" : 11 Documents clear
Basel III compliance and bank resilience: An analysis of the effects of macroeconomic factors and profitability on the performance of Indonesian banks Hayati, Restu; Rachmawati, Eka Nuraini; Suriyanti, Linda Hetri
Journal of Accounting and Investment Vol. 27 No. 1 (2026): January 2026
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jai.v27i1.26636

Abstract

Research aims: This study examines the impact of Basel III prudential ratios (Tier 1 capital ratio, Liquidity Coverage Ratio proxy, and Net Stable Funding Ratio proxy) on bank profitability in Indonesia, as well as the moderating role of macroeconomic factors (GDP growth and inflation).Design/Methodology/Approach: The study utilizes panel data from 63 Indonesian commercial banks over the period 2011–2022. A bank fixed effects regression model with robust standard errors clustered at the bank level is employed. Four progressive specifications are tested to assess the direct effects of prudential ratios, bank-specific controls, macroeconomic variables, and their interactions.Research findings: The Tier 1 capital ratio consistently exerts a positive and significant effect on Return on Assets (ROA), indicating that higher capital adequacy supports profitability. Liquidity proxies have a limited direct impact, consistent with evidence that the NSFR often serves as a non-binding constraint in Indonesia. Macroeconomic factors play a moderating role, with GDP growth attenuating the capital-profitability relationship and inflation reinforcing it. Robustness checks excluding the NSFR proxy or the COVID-19 period confirm the stability of these results.Theoretical contribution/Originality: This study extends the Basel III literature by demonstrating that regulatory effects on bank profitability are conditional on macroeconomic conditions in an emerging market context. It provides evidence of asymmetric moderation, where growth cycles may encourage risk-shifting while inflation enhances capital benefits.Practitioner/Policy implication: Regulators should prioritize capital adequacy enforcement while calibrating liquidity requirements to avoid undue profitability costs. Banks can optimize performance by maintaining flexible capital buffers in response to macroeconomic fluctuations. Policymakers may consider countercyclical adjustments to enhance resilience without compromising earnings.
Financial Strategy of SOEs: Mediating Role of Accounting Conservatism in Gender Diversity and Performance Rodiah, Siti; Samsiah, Siti; Nik Maheran Nik Muhammad; Mairoza
Journal of Accounting and Investment Vol. 27 No. 1 (2026): January 2026
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

Research aims: This study aims to examine the influence of board gender diversity on the financial performance of state-owned enterprises (SOEs) in Indonesia and to investigate the mediating role of accounting conservatism in this relationship. Design/Methodology/Approach: The population of this study includes SOEs listed on the Indonesia Stock Exchange (IDX) and their annual reports. Purposive sampling was used, resulting in 135 observations from 27 SOEs over the period 2019 to 2023. Data were analyzed using multiple regression analysis and mediation testing with the Sobel test, conducted via STATA software. Research findings: The findings show that accounting conservatism positively contributes to improving SOEs' financial performance. However, gender diversity does not significantly affect financial performance, and accounting conservatism does not mediate the relationship between gender diversity and financial performance. Theoretical contribution/Originality: This study contributes to the literature on the role of gender diversity in SOE performance with accounting conservatism as a mediator, a topic not extensively explored in developing countries like Indonesia. Its originality lies in the mediation model, which is underexplored in the context of SOEs. Practitioner/Policy implication: The results provide valuable insights for policymakers and SOE managers in developing inclusive HR strategies and implementing accounting conservatism principles to enhance financial performance and transparency. Research limitation/Implication: The study is limited by the sample size and exclusion of other potential control variables. Future research should include more companies and external factors, such as regulations and macroeconomic conditions.
ESG Score and Cost of Debt: Evidence from Indonesia Siagian, Valentine; Sinaga, Judith Tagal Gallena; Sinaga, Nensy Dwi Putri
Journal of Accounting and Investment Vol. 27 No. 1 (2026): January 2026
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jai.v27i1.27111

Abstract

Research aims: This study explores the influence of Environmental, Social, and Governance (ESG) practices on corporate debt costs. The primary objective is to determine whether comprehensive ESG adherence can function as a mechanism to reduce financial liabilities by lowering borrowing costs.Design/Methodology/Approach: The research employs a quantitative methodology, using a dataset of ESG scores from 635 firm-year observations in Indonesian data covering 2013-2022, and analyzes it using OLS regression. The analytical approach involves comparing corporate debt costs with overall ESG scores and with the disaggregated ESG scores independently.Research findings: ESG scores are associated with lower debt costs. However, when the components are analyzed separately, only the Governance score shows a statistically significant negative correlation with debt costs. Environmental and Social scores do not demonstrate a meaningful standalone effect. It suggests that creditors place greater emphasis on governance-related factors in assessing credit risk.Theoretical contribution/Originality: This study makes a significant contribution to the literature on sustainable finance by providing empirical evidence of the differential impact of ESG components on corporate financing costs. It advances understanding of how ESG factors, particularly governance, shape firms’ financial outcomes.Practitioner/Policy implication: The results highlight the strategic importance of governance-focused ESG initiatives for firms seeking to lower financing costs. Policymakers and corporate strategists should recognize the value creditors place on governance practices and incorporate this insight into ESG frameworks and disclosure standards.
Sustainable Practices in Manufacturing: How Green Innovation Drives Financial Performance with Gender Diversity and CSR as Moderators Haryanto, Hery; Jennifer, Fion; Khornida Marheni, Dewi
Journal of Accounting and Investment Vol. 27 No. 1 (2026): January 2026
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

Research aims: This research seeks to analyze how green innovation strategies influence the financial performance of manufacturing firms in Indonesia, with CSR and gender diversity considered as moderator. Design/Methodology/Approach: The study applies a quantitative research method using secondary data from 70 manufacturing firms listed on the Indonesia Stock Exchange (IDX) between 2018 and 2022 Ordinary Least Squares (OLS) regression analysis was conducted using the Stata application. The sample was selected through purposive sampling with specific criteria. Research findings: The results show that green innovation and gender diversity both have a significant positive impact on financial performance. However, CSR does not have a significant direct effect on financial performance, and neither CSR nor gender diversity successfully moderates the relationship between green innovation and financial outcomes. Theoretical contribution/ Originality:. This study contributes to the limited literature exploring the interaction of green innovation, gender diversity, and CSR in the context of financial performance. It highlights that gender diversity is a more influential factor than CSR in enhancing performance and suggests that CSR disclosure alone may not suffice in driving financial gains. Practitioner/Policy implication: Managers and policymakers should prioritize gender diversity as a strategic asset to improve company performance. Meanwhile, CSR programs should be evaluated for substance and consistency to ensure they contribute meaningfully to firm value rather than serving as symbolic gestures. Research limitation/Implication: The study is limited to manufacturing companies listed on the IDX from 2018 to 2022, which may affect the generalizability of the results. Future research should broaden the scope to include other sectors, extend the study period, and integrate additional variables related to green innovation. Keywords: Green Innovation, Gender Diversity, Financial Performance, Manufacturing Companies , Corporate Sosial Responsibility
Formal vs informal: Public participation in village government development planning in Indonesia — Evidence from Bumiwangi Village Syifana, Annisa; Halim, Abdul; Lestari, Sindy Fuji
Journal of Accounting and Investment Vol. 27 No. 1 (2026): January 2026
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jai.v27i1.28082

Abstract

Research aims: This study examines how public participation is implemented in village development planning and investigates the factors contributing to its limited effectiveness.Design/Methodology/Approach: Using a qualitative case study approach, this research applies Miller et al.’s (2019) framework of participation modes to analyze the operation of formal and informal participatory mechanisms in village governance. Fieldwork was conducted in Bumiwangi Village, West Java, through semi-structured interviews, participant observation, and document analysis to assess how participatory practices influence accountability and decision-making.Research findings: The study identifies two interconnected models of public participation. Formal participation occurs through village development planning deliberations (Musrenbangdes), while informal participation takes place in community deliberation forums (rembug warga). Informal participation is characterized by openness, inclusivity, and deliberative dialogue that enables collective problem-solving and meaningful citizen input. In contrast, formal participation is largely dominated by selected representatives and confirmatory communication aligned with the village head’s agenda, resulting in limited citizen influence. Public input is mostly indirect and exercised through informal spaces rather than formal decision-making channels. Two key barriers constrain effective participation: (1) village authorities’ narrow understanding of participation as mere representation, and (2) limited public access to financial and planning information, which restricts informed and critical engagement.Theoretical contribution/Originality: This study extends Miller et al.’s (2019) participation framework to a rural Indonesian context, highlighting the structural weaknesses of formal participatory mechanisms and emphasizing the crucial yet underrecognized role of informal forums in fostering deliberative accountability and social legitimacy.Practitioner/Policy implication: Policymakers should integrate informal participatory forums into formal governance processes, enhance transparency, and expand public access to information to reduce elite dominance and strengthen accountability.
Dynamics of budget absorption: The role of budget political moderation on human resource regulation and competence in local governments Lastri, Surna; Syamsidar, Syamsidar; Nasution, Emmi Suryani; Lokman, Farha Zafira Agos
Journal of Accounting and Investment Vol. 27 No. 1 (2026): January 2026
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jai.v27i1.28481

Abstract

Research aims: This study examines the effects of regulations, human resource competence, and budget politics on budget absorption. In addition, it seeks to analyze the moderating role of budget politics in strengthening or weakening the relationships between regulations, human resource competence, and budget absorption. Design/Methodology/Approach: This research adopted a quantitative approach using a questionnaire survey. The study population comprised all government officials from 27 regional apparatus work units in Nagan Raya Regency, Aceh Province, totaling 108 respondents, including service secretaries, financial administration officials, expenditure treasurers, and heads of finance subdivisions. Data were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM). Research findings: The results indicate that budget politics positively influence public budget absorption, whereas regulation and human resource competence do not have a direct effect. The moderation analysis further reveals that budget politics has a significant negative moderating effect on the relationship between regulation and budget absorption, implying that heightened political intensity may weaken the effectiveness of regulatory frameworks. Conversely, budget politics does not moderate the relationship between human resource competence and public budget absorption.Theoretical contribution/Originality: This study has expanded the literature on the political budget cycle by emphasizing the significance of balancing political stability, regulatory flexibility, and adaptive human resource capacity to improve the effectiveness of public budget absorption.Practical/Policy implication: Local governments should design regulations that are adaptive to political dynamics, strengthen managerial human resource capacity, and optimize digital technologies to enhance transparency and efficiency in budget management.
Good procurement governance and organisational performance: A contingency theory approach to procurement practices in XYZ universities Sutawijaya, Adrian; Muktiyanto, Ali; Geraldina, Ira; Narimawati, Umi
Journal of Accounting and Investment Vol. 27 No. 1 (2026): January 2026
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jai.v27i1.28733

Abstract

Research aims: This study examines the effect of Good Procurement Governance (GPG) on organisational performance in public institutions, particularly in XYZ Universities.Design/Methodology/Approach: The research method used quantitative data from a survey of 157 procurement practitioners at the XYZ University, which were analysed statistically using Structural Equation Modelling–Partial Least Squares (SEM-PLS). To complement and deepen the interpretation of the confirmatory factor analysis results, a qualitative approach was subsequently employed through Focus Group Discussions (FGDs) with XYZ University procurement actors.Research findings: The results show that GPG negatively affects organisational performance, while each GPG dimension positively enhances it. This result indicates the importance of fit between regulations, institutions, human resources, and information systems within the contingency theory framework.Theoretical contribution/Originality: This study contributes theoretically by expanding the GPG model grounded in contingency theory and practically by providing recommendations for strengthening procurement governance in public universities.
The influence of framing effect and clawback provision on divestment decision making: An experimental study Victory, Galant; Misra, Fauzan
Journal of Accounting and Investment Vol. 27 No. 1 (2026): January 2026
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jai.v27i1.28865

Abstract

Research aims: This study analyzes the dual impact of framing (positive versus negative) and clawback provisions on managerial decisions regarding divestment. The study focuses on the interaction between clawback provisions, which serve as compensation-related loss cues, and externally framed accounting information, and its impact on managers’ risk attitudes regarding negative performance investments.Design/Methodology/Approach: A 2×2 between-subjects laboratory experiment was conducted with 84 participants who evaluated divestment alternatives under positive or negative frames, with or without clawback provisions.Research findings: The results indicate that framing significantly influences divestment decisions, as positive frames lead to risk-averse divestment choices, while negative frames promote risk-seeking continuation. Although clawback provisions do not exhibit a significant main effect, their interaction with framing is significant. Clawbacks increase risk-taking under positive frames but reduce risk-taking under negative frames, revealing a novel dual-framing mechanism.Theoretical contribution/Originality: This study demonstrates empirically that the behavioral consequences of clawback provisions vary depending on the framing of performance evaluation information. The study demonstrates that compensation-based loss signals interact with information framing, extending behavioral accounting research on framing effects to the area of divestment decisions in non-financial contexts.Practical implications: The results suggest that firms should better align their pay contracts with their internal reporting structures. More specifically, integrating clawback provisions with performance accomplishments articulated in positive terms may lead managers to persist in their failure to lose investments. Hence, firms and pay committees need to align the design of incentives with management reporting to contain loss-inducing risk-taking.
Can bitcoin serve as a reliable safe haven? Amid uncertainty and volatility Nugraha, Pazri; Saptutyningsih, Endah; Nguyen, Tran Thai Ha; Darsono, Susilo Nur AJi Cokro
Journal of Accounting and Investment Vol. 27 No. 1 (2026): January 2026
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jai.v27i1.28742

Abstract

Research aims: This study examines whether Bitcoin can serve as a safe-haven asset amid global market uncertainty during the 2022–2025 period, characterized by geopolitical tensions, post-pandemic inflation, and heightened financial volatility.Design/Methodology/Approach: The study employs a quantitative approach using daily data on Bitcoin, gold, oil, the S&P 500 index, and the Volatility Index (VIX) from January 2022 to June 2025. All variables are transformed into logarithmic returns and analyzed using an ARCH model to capture time-varying volatility and assess the influence of global market factors on Bitcoin returns..Research findings: The empirical results indicate that the VIX has a statistically significant negative effect on Bitcoin returns, implying that rising global uncertainty weakens rather than strengthens Bitcoin’s value. The S&P 500 exerts a significant positive influence, showing that Bitcoin moves pro-cyclically with equity markets and behaves like a risky asset. Oil prices have no significant impact, while gold returns exhibit a significant but unstable co-movement, lacking consistent value preservation. Overall, these findings reject Bitcoin’s safe-haven role and characterize it as a speculative digital asset with high sensitivity to stock market dynamics.Theoretical contribution/Originality: This study contributes to the safe-haven and digital finance literature by providing recent empirical evidence that distinguishes Bitcoin from genuine safe-haven assets. Grounded in formal safe-haven theory and volatility dynamics, it challenges the “digital gold” narrative and clarifies the boundary between high-risk digital assets and traditional safe havens.Practitioner/Policy implication: For investors, the results of this study confirm the need for caution in treating Bitcoin as a portfolio diversification instrument, as its behavior is more like that of a risky asset than a hedge asset. For Policymakers and regulators, these results show the importance of public education regarding Bitcoin's volatility risks and its limitations as a safe haven.
The value relevance of SASB-based materiality disclosure: Evidence from Indonesian listed firms Prayoga, Hadiyan; Soko, Felicyta Adelanam; Badruzaman, Jajang
Journal of Accounting and Investment Vol. 27 No. 1 (2026): January 2026
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jai.v27i1.28790

Abstract

Research aims: ISSB issued IFRS S1 and S2 reporting that influence entities to disclose information about risks and opportunities based on SASB standards. This study examine whether materiality disclosure reflects on value relevance information content. The materiality item relates to the general purpose of financial reporting, helping users make decisions.Design/Methodology/Approach: Using regression analysis, this study analyse 330 firm-year observations from 71 firms listed on the Indonesia Stock Exchange from 2017-2022.Research findings: This study find positive relationship between materiality disclosure and value relevance information. In addition, firms with high materiality not accurately reflects on stock price related sustainability item.Theoretical contribution/Originality: This study provides novel evidence that materiality disclosure enhances value relevance by influencing stock prices. It extends the decision-usefulness perspective by showing that market responses to materiality vary across firms, highlighting the role of sustainability disclosure in shaping investors’ valuation.Practitioner/Policy implication: This study suggest that materiality disclosure serves as a strategic tool for firms to enhance market value, not just a compliance exercise. For regulators, the evidence supports ISSB’s mandate that materiality reporting is essential to provide decision-useful sustainability information for investors.Research limitation/Implication: First, this study is limited to the Indonesian context. Future research is encouraged to broaden the scope by including other countries, particularly those that are members of the IASB. Second, the study does not account for the issue of endogeneity within its methodological approach.

Page 1 of 2 | Total Record : 11

 1   2 

Filter by Year

2026 2026


Reset
Filter By Issues
All Issue Vol. 27 No. 1 (2026): January 2026 Vol. 26 No. 3: September 2025 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