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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.
Arjuna Subject : -
Articles 674 Documents
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Regulation, Human Resource Competence and Budget Politics: Rethinking Determinants of Public Budget Absorption Lastri, Surna
Journal of Accounting and Investment Vol. 27 No. 1 (2026): January 2026
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

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Abstract

Abstract: Research aims: This study aims to analyze the influence of regulation, human resource competence, and budget politics on public budget absorption. The study also assesses regulation moderation role and human resource competence in strengthen or weaken the association. Design/Methodology/Approach: This study used quantitative approach with Partial Least Square-Structural Equation Modeling (PLS-SEM). The data was collected using survey. The respondents were Local government officials. The data was analyzed using validity and reability tests, hypotheses test and robustness test. Research findings: The result showed that budget politic significantly influenced budget absorption, meahwile, regulation and human resource competence were indirectly influence budget absorption. Regulation was proven weakens the influence of budget politic on budget absorption. While human resource competence did not show moderation effect. Theoretical contribution/ Originality: Findings in this study contributes to expanding the existing literature in the political budget cycle and public governance by showing that rigid regulation could be a constraint. Meanwhile, human resource competence does not always strengthen the association between budget politics and budget absorption. Practitioner/Policy implication: These findings highlight the need for the government to formulate an adaptive regulation, improve human resources capacity in the aspect of managerial and leadership, and consider the use of information technology and artificial intelligence (AI) to support transparency, efficiency, and accuracy of budget implementation. Research limitation/Implication: This research is limited to the context of local government. Therefore, the result is not fully generalizable. Future studies should assess more variables, such as organizational commitment, transparency, quality of governance, and the role of information technology and AI to strengthen the association between politics, policy, and human resource capacity with public budget absorption.
Management compensation and performance: The role of clawback-holdback provisions in mitigating management risk-taking behavior Septianis, Aulia; Kresnawati, Etik
Journal of Accounting and Investment Vol. 26 No. 3: September 2025
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jai.v26i3.28624

Abstract

Research aims: This study aims to examine the mediating effect of management risk-taking behavior on the relationship between compensation of management as a material risk taker (MRT) and bank performance. It also examines how clawback-holdback provisions moderate this relationship. Design/Methodology/Approach: This study employs a quantitative approach, drawing on secondary data from the annual reports of 18 Indonesian banks listed on the Indonesia Stock Exchange (IDX) between 2018-2023. Hypothesis testing was conducted using the mediation moderation model with PROCESS Macro Model 7.Research findings: The results show that management compensation does not directly affect bank performance, but rather indirectly affects it through the risk-taking behavior of MRT. Meanwhile, this study cannot prove the role of clawback-holdback provisions in mitigating the risk-taking behavior of MRT, as expected by the Indonesian Financial Services Authority.Theoretical contribution/ Originality: This study provides evidence that incentive and performance mechanisms in the banking industry are indirect. These results expand our understanding of the importance of behavioral factors, specifically risk-taking by MRT, as a key channel through which incentives translate into performance outcomes. Practitioner/Policy implication: These findings underscore the need for balanced compensation schemes that integrat compensation with risk control. Bank should adopt transparent clawback-holdback provisions aligned with PJOK No.45/PJOK.03/2015.Research limitation/Implication: This study focuses only on banks listed on the IDX, which limits the generalization of its findings to the banking industry as a whole, including private banks and state-owned banks that are not publicly listed. The results of the study highlight the need to enforce clawback-holdback provisions as a mechanism to reduce excessive risk-taking by banking MRTs.
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

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Abstract

Research aims: This study aims to examine the effect of Good Procurement Governance (GPG) on organisational performance in public institutions, namely state universities. Design/Methodology/Approach: The research method used quantitative data obtained from a survey of 157 procurement practitioners at the Open University and analysed statistically using Structural Equation Modelling–Partial Least Squares (SEM-PLS). Research findings: The results of the relationship between GPG and performance were discussed in a focus group discussion with procurement experts to strengthen the interpretation of the results. The results show that GPG has a significant negative effect on organisational performance. The implementation of GPG contributes positively to improving value-for-money performance (economy, efficiency, effectiveness). These findings emphasise 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 based on contingency theory, and practically by providing recommendations for strengthening procurement governance in state universities.
The influence of framing effect and clawback provision on divestment decision making: an experimental study Misra, Fauzan; Victory, Galant
Journal of Accounting and Investment Vol. 27 No. 1 (2026): January 2026
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

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Abstract

The research aims: This study examines the impact of the framing effect and clawback provision on divestment decision-making. The research focuses on the divestment decision-making process, which is influenced by the behavior of managers/directors as decision-makers. Prospect theory is the primary theoretical basis for understanding how managers respond to information related to profits and losses. The framing effect refers to how the presentation of information (positive or negative) affects risk-taking tendencies. At the same time, the clawback provision governs the return of managers' bonuses in the event of a decision-making error. Design/Methodology/Approach: This study uses an experimental approach with a 2x2 factorial design between subjects to examine the interaction between the framing effect and clawback provision in affecting divestment decision-making. Research findings: Results show that framing significantly influences divestment decisions; positive frames encourage risk-averse behavior, while negative frames increase risk-seeking behavior. Although the clawback provision does not have a significant effect directly, its interaction with the framing effect shows a significant effect. It generates novel effects beyond those described in the current literature. In positive frames, clawbacks encourage riskier decisions, while in negative frames, clawbacks restrain risky decisions. Theoretical Contribution/ Originality: This research is expected to open further discussion about the influence of psychological and behavioral factors in strategic decision-making, which is still rarely discussed in research in the field of management accounting. Practitioner/Policy implication: This research can significantly contribute to the academic literature regarding how to present useful management accounting information for decision-making. Research Limitations/Implications: This research focuses on discussing the framing effect based on the perspective of Prospect Theory by taking one form of framing effect, namely Risky-Choice Framing. Future research can further examine the influence of framing effects in divestment decision-making from the perspective of other theories and take other forms of framing effects, such as attribute framing or goal framing. Keywords: Decision making, Divestment, Framing effect, Clawback, Experiment

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