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.
Articles
677 Documents
<![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[The role of social entrepreneurship orientation, social capital, and social innovation in Village-Owned Enterprises (VOE) performance: A study in Yogyakarta Province ]]>
<![CDATA[Harjanti Widiastuti]]>;
<![CDATA[Muhammad Rizky Pratama]]>;
<![CDATA[Evy Rahman Utami]]>
<![CDATA[ Journal of Accounting and Investment Vol. 25 No. 2: May 2024 ]]>
Publisher : <![CDATA[Universitas Muhammadiyah Yogyakarta, Indonesia ]]>
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DOI: 10.18196/jai.v25i2.22334
<![CDATA[Research aims: This study aims to examine the role of social entrepreneurship orientation, social capital, and social innovation in improving Village-Owned Enterprises’ (VOE) performance. Specifically, this study examines social innovation as a moderator of the relationship between social capital and performance.Design/Methodology/Approach: This study used a quantitative approach with primary data types taken using a questionnaire instrument. The data were taken from 199 VOE in Yogyakarta Province. The subjects of this research were the managers of VOE in Yogyakarta Province, including directors, secretaries, treasurers, or heads of business units.Research findings: This study revealed that (1) social entrepreneurship orientation and social capital yielded a positive effect on VOE performance, (2) social innovation did not moderate the relationship between social capital and VOE performance, and (3) social innovation positively affected VOE performance.Theoretical contribution/Originality: VOE has a social mission in its business development. Social innovation should be a concern of VOE in achieving its mission. This research contributes to testing the role of social innovation in VOE performance. Practitioner/Policy implication: VOE, village government, and relevant agencies need to develop programs to improve their social entrepreneurship orientation, social capital, and social innovation, such as training programs and increased collaboration.]]>
<![CDATA[Return connectedness of sectoral stock indices on the Indonesian stock exchange during Russian-Ukraine conflict ]]>
<![CDATA[Fitriyah, Fitriyah]]>;
<![CDATA[Mukminatin, Zakia Nur]]>
<![CDATA[ Journal of Accounting and Investment Vol. 26 No. 1: January 2025 ]]>
Publisher : <![CDATA[Universitas Muhammadiyah Yogyakarta, Indonesia ]]>
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DOI: 10.18196/jai.v26i1.22406
<![CDATA[Research aims: The purpose of this study is to determine the return connectedness of sectoral stock indices in Indonesia and to identify sectors that act as risk transmitters and risk recipients during the Russia-Ukraine conflict.Design/Methodology/Approach: The study employed a quantitative method with a comparative descriptive approach using data obtained from id.investing.com in the form of daily data on the closing price of the sectoral stock index starting from the period March 16, 2021 to March 14, 2023. The sampling technique used purposive sampling method. Time varying parameter VAR is an analytical tool used to analyze the data.Research findings: The test results found that the return connectedness of Sectoral Stock Indices increased during the Russia-Ukraine war. During the war, the sectoral indices that acted as risk transmitters were finance, industry, infrastructure, consumer cyclicals, and basic materials. Sectors that acted as risk receivers were health, transportation, energy, consumer non-cyclicals, and technology.Theoretical contribution/Originality: This is the first study to examine return spillover in Indonesia stock sectors, specifically focusing on the Russia-Ukraine conflict. This study provides understanding about return spillover and directional spillover among 11 Indonesian stock sectors.Practitioner/Policy implication: This article has important implications for investors to allocate their portfolios taking into account the similarities and differences in the time-varying connectivity characteristics of different asset systems. Also, for policymakers in Indonesia should adopt flexible regulatory strategies to avoid systemic risk contagion.]]>
<![CDATA[Selectivity hypothesis and task bind: Explaining gender difference in NPD’s cost information and control adoption ]]>
<![CDATA[Rika Alvira Brisa Wardani]]>;
<![CDATA[Dyah Ekaari Sekar Jatiningsih]]>
<![CDATA[ Journal of Accounting and Investment Vol. 25 No. 2: May 2024 ]]>
Publisher : <![CDATA[Universitas Muhammadiyah Yogyakarta, Indonesia ]]>
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DOI: 10.18196/jai.v25i2.22555
<![CDATA[Research aims: This study aims to examine how gender will differentiate the effect of cost information and management control system adoption during the New Product Development (NPD) process. The importance of such research lies in the suggested development of gender-diverse teams to achieve optimum performance.Design/Methodology/Approach: An experimental design was employed to test proposed hypotheses. Data from 117 Accounting undergraduate students as surrogates of professional NPD designers were analyzed using Analysis of Covariance (ANCOVA).Research findings: Results revealed that female designers, due to comprehensive processing and stereotype threat, achieved more cost-effective designs with specific information and diagnostic control systems. In comparison, males would achieve better performance using relative information and designing in interactive control since they tended to be heuristic and free from stereotyping.Theoretical contribution/Originality: This research confirms gender differences in NPD. The explanation using the selectivity hypothesis and task bind mechanism contributes to the literature by supporting clear causal relationships in gender-related NPD contexts.Practitioner/Policy implication: In NPD, management should consider the proper presentation of information across specific users, including across teams with gender variability. Further, the design of the management control system should consider variability once the gender-diverse team has been developed.Research limitation/Implication: The causal relationship in this study was limited to a specific experimental setting, which did not reflect all complexities in practice. However, the interplay between variables under study leads to the avenue for future research to broaden the test into different metrics of NPD performance, types of information, and possible designer variability.]]>
<![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[Systematic literature review: Determinants and contribution of restaurant tax to local own-source revenue in Indonesia ]]>
<![CDATA[Karyanto, Karyanto]]>;
<![CDATA[Sofyani, Hafiez]]>
<![CDATA[ Journal of Accounting and Investment Vol. 26 No. 1: January 2025 ]]>
Publisher : <![CDATA[Universitas Muhammadiyah Yogyakarta, Indonesia ]]>
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DOI: 10.18196/jai.v26i1.22754
<![CDATA[Research aims: This research aims to explore previous research related to the contribution of restaurant taxes in Indonesia to Local Own-Source Revenue (LOSR) and analyze studies from several angles.Design/Methodology/Approach: This research used a Systematic Literature Review, which consisted of three stages, namely the collection stage, by entering the search keywords "Contribution," "Restaurant Tax," and "Local Own-Source Revenue" in Google Scholar and Scopus from 2014 to 2023. Articles included in the research were assessed based on their ranking in the SINTA and Scopus indexes. The presentation stage focused on the research background, methods, and findings. After applying a series of criteria, 44 articles were obtained.Research findings: Restaurant tax research in Indonesia has been active since 2014, mostly in SINTA 4, in Java and using quantitative methods. Restaurant tax has not provided optimal contribution to Local Own-Source Revenue due to lack of compliance and awareness of taxpayers.Theoretical contribution/Originality: More generally looking at the contribution of restaurant taxes in Indonesia, and systematic literature review research published in the indexed journals Sinta and Scopus has never been found and carried out. Practitioner/Policy implication: Provide considerations to the Regional Government to pay attention to LOSR achievement factors, especially restaurant tax.Research limitation/Implication: This research only focuses on restaurant taxes in Indonesia.]]>
<![CDATA[Do monitoring agents strengthen the impact of founder and family boards on firm performance? ]]>
<![CDATA[Suparman, Meiliana]]>;
<![CDATA[Jurnali, Teddy]]>;
<![CDATA[Lau, Andy]]>;
<![CDATA[Septiany, Sheila]]>
<![CDATA[ Journal of Accounting and Investment Vol. 26 No. 1: January 2025 ]]>
Publisher : <![CDATA[Universitas Muhammadiyah Yogyakarta, Indonesia ]]>
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DOI: 10.18196/jai.v26i1.22882
<![CDATA[Research aims: This research aims to test the moderating effect of monitoring agents on the effect of the founder-board of directors (founder-BOD) and family-board of directors (family-BOD) on firm performance. Monitoring agents are represented by independent directors and commissioners. In this case, the age, size, and industrial type of the firms are the control variables.Design/Methodology/Approach: This quantitative research employed secondary data from 489 firms registered in the Indonesia Stock Exchange from 2018 to 2022. In this case, the observation data were 2,445, which were tested using a panel regression method. Research findings: Hypothesis test results show that monitoring agents strengthen the negative effect of founder-BOD on firm performance. Another result shows that family-BOD does not have a significant effect on firm performance, and monitoring agents do not show a moderating effect on the relationship. Theoretical contribution/Originality: This research provides new insights into the role of monitoring agents within Indonesia's two-tier governance system, enhancing our understanding of corporate governance in emerging economies. It offers a novel perspective on how independent directors and commissioners influence firm performance, contributing to the literature on corporate governance. Practitioner/Policy implication: The findings underscore the importance of enhancing the independence and effectiveness of monitoring agents to improve firm governance. These insights are relevant for policymakers and corporate governance reforms in Indonesia and similar emerging economies.Research limitation/Implication: Further research could consider the quality of monitoring agents, such as regulation, culture, social relationships, and knowledge.]]>
<![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.]]>
