Pub Date : 2021-09-13DOI: 10.24815/JDAB.V8I2.20424
Iriyadi Iriyadi, Y. Antonio
This paper aims to observe the impact of climate change disclosure (CCD) towards corporate financial performance (CFP) proxied by returns on assets (ROA), return on sales (ROS), and sales growth. Linear and non-linear approaches are employed for this research. Recommendation from Task Force on Climate-Related Financial Disclosures (TCFD) are applied for content analysis to obtain CCD scores. The target population in this study is 45 best performing companies (LQ45) listed on the Indonesia Stock Exchange (IDX) that disclosed sustainability report from 2014 to 2018. The number of observations is 72 year-companies. The findings show that CCD in large companies decreases ROS and improves ROA, yet in general, the improvement occurs in the long term for ROA and sales growth after a certain level is met (U-curve). In general, providing climate-related information will eventually pay. Financial improvement of the companies has increased despite of low quality of CCD and an indication of positive customer reaction to CCD is noticeable.
{"title":"Climate Change Disclosure Impact on Indonesian Corporate Financial Performance","authors":"Iriyadi Iriyadi, Y. Antonio","doi":"10.24815/JDAB.V8I2.20424","DOIUrl":"https://doi.org/10.24815/JDAB.V8I2.20424","url":null,"abstract":"This paper aims to observe the impact of climate change disclosure (CCD) towards corporate financial performance (CFP) proxied by returns on assets (ROA), return on sales (ROS), and sales growth. Linear and non-linear approaches are employed for this research. Recommendation from Task Force on Climate-Related Financial Disclosures (TCFD) are applied for content analysis to obtain CCD scores. The target population in this study is 45 best performing companies (LQ45) listed on the Indonesia Stock Exchange (IDX) that disclosed sustainability report from 2014 to 2018. The number of observations is 72 year-companies. The findings show that CCD in large companies decreases ROS and improves ROA, yet in general, the improvement occurs in the long term for ROA and sales growth after a certain level is met (U-curve). In general, providing climate-related information will eventually pay. Financial improvement of the companies has increased despite of low quality of CCD and an indication of positive customer reaction to CCD is noticeable.","PeriodicalId":31235,"journal":{"name":"Jurnal Dinamika Akuntansi dan Bisnis","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-09-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45635401","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-04-26DOI: 10.24815/JDAB.V8I1.19830
Randy Kuswanto
The purpose of this study is to examine the underpricing phenomenon from IPO firms listed in Indonesia Stock Exchange during the COVID-19 pandemic. Using purposive sampling method, 34 IPO firms after the announcement of pandemic COVID-19 were selected as research samples. The IPO stock closing prices and returns on days 1, 5, 10, 15, and 20 were analyzed using paired sample t-test. The findings show underpricing phenomenon still occurred during the pandemic period. However, the underpricing only documented statistically significant on the T1 of the trading day. After the first day of trading, the stock’s returns consistently declined and were proved statistically insignificant at T5, T10, T15, and T20.The purpose of this study is to examine the underpricing phenomenon from IPO firms listed in Indonesia Stock Exchange during the COVID-19 pandemic. Using purposive sampling method, 34 IPO firms after the announcement of pandemic COVID-19 were selected as research samples. The IPO stock closing prices and returns on days 1, 5, 10, 15, and 20 were analyzed using paired sample t-test. The findings show underpricing phenomenon still occurred during the pandemic period. However, the underpricing only documented statistically significant on the T1 of the trading day. After the first day of trading, the stock’s returns consistently declined and were proved statistically insignificant at T5, T10, T15, and T20.
{"title":"IPO Stock Performance amidst the COVID-19 Pandemic: Has It been Undervalued?","authors":"Randy Kuswanto","doi":"10.24815/JDAB.V8I1.19830","DOIUrl":"https://doi.org/10.24815/JDAB.V8I1.19830","url":null,"abstract":"The purpose of this study is to examine the underpricing phenomenon from IPO firms listed in Indonesia Stock Exchange during the COVID-19 pandemic. Using purposive sampling method, 34 IPO firms after the announcement of pandemic COVID-19 were selected as research samples. The IPO stock closing prices and returns on days 1, 5, 10, 15, and 20 were analyzed using paired sample t-test. The findings show underpricing phenomenon still occurred during the pandemic period. However, the underpricing only documented statistically significant on the T1 of the trading day. After the first day of trading, the stock’s returns consistently declined and were proved statistically insignificant at T5, T10, T15, and T20.The purpose of this study is to examine the underpricing phenomenon from IPO firms listed in Indonesia Stock Exchange during the COVID-19 pandemic. Using purposive sampling method, 34 IPO firms after the announcement of pandemic COVID-19 were selected as research samples. The IPO stock closing prices and returns on days 1, 5, 10, 15, and 20 were analyzed using paired sample t-test. The findings show underpricing phenomenon still occurred during the pandemic period. However, the underpricing only documented statistically significant on the T1 of the trading day. After the first day of trading, the stock’s returns consistently declined and were proved statistically insignificant at T5, T10, T15, and T20.","PeriodicalId":31235,"journal":{"name":"Jurnal Dinamika Akuntansi dan Bisnis","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-04-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42859044","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Return is one of the main motivations for investing, the higher the expected return investors will receive, the more they will attract investors. This study analyzes and empirically proves the effect of the COVID 19 outbreak on the Indonesian stock exchange. This study uses daily data from the Covid-19 case, data on the capitalization of the Indonesian stock exchange during the outbreak from March 2 to July 15, 2020, with various Indonesian government policies that began lockdown, regional quarantine and new normal. Panel data regression is used to analyze and empirically prove the impact of Covid 19 on stock returns. The results showed that the daily growth of total confirmed positive cases, the total death cases of Covid 19 had a negative impact on stock returns in the Indonesian stock exchange even though the growth rate of patients who recovered was quite high. In addition, government policies in the form of lockdown of quarantine areas and new normal are not able to strengthen the Jakarta Composite Indeks (JCI), this is because the policy is not able to suppress the number of positive confirmations, but continues to increase. This research contributes to the government making a policy to reduce the number of confirmed cases to be able to strengthen the JCI, and investors can see aspects other than the expected return currently received.
{"title":"COVID 19 Outbreak and Stock Market Return: Evidence from Indonesia","authors":"Nurcahyono Nurcahyono, Ayu Noviani Hanum, Fatmasari Sukesti","doi":"10.24815/JDAB.V8I1.18934","DOIUrl":"https://doi.org/10.24815/JDAB.V8I1.18934","url":null,"abstract":"Return is one of the main motivations for investing, the higher the expected return investors will receive, the more they will attract investors. This study analyzes and empirically proves the effect of the COVID 19 outbreak on the Indonesian stock exchange. This study uses daily data from the Covid-19 case, data on the capitalization of the Indonesian stock exchange during the outbreak from March 2 to July 15, 2020, with various Indonesian government policies that began lockdown, regional quarantine and new normal. Panel data regression is used to analyze and empirically prove the impact of Covid 19 on stock returns. The results showed that the daily growth of total confirmed positive cases, the total death cases of Covid 19 had a negative impact on stock returns in the Indonesian stock exchange even though the growth rate of patients who recovered was quite high. In addition, government policies in the form of lockdown of quarantine areas and new normal are not able to strengthen the Jakarta Composite Indeks (JCI), this is because the policy is not able to suppress the number of positive confirmations, but continues to increase. This research contributes to the government making a policy to reduce the number of confirmed cases to be able to strengthen the JCI, and investors can see aspects other than the expected return currently received.","PeriodicalId":31235,"journal":{"name":"Jurnal Dinamika Akuntansi dan Bisnis","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-03-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47598652","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-03-26DOI: 10.24815/JDAB.V8I1.17942
Kharisma Elfianda Hamidlal, I. Harymawan
This research aims to examine the relationship between the CEO power and firm value of non-financial companies listed on the Indonesia Stock Exchange during the 2014-2018 period. The samples are 322 observations and selected through purposive sampling method. Data was analyzed using multiple linear analysis methods. The results uncovered that ownership power, expert power and prestige power have a positive relationship with firm value. The most probable reasons could be that CEO share ownership encourages better decision-making process that contribute to enhanced corporate value. A longer tenure as a CEO signals high professionalism and expertise of the CEO that led to improved decision quality made by the CEO.
{"title":"Relationship Between CEO Power and Firm Value: Evidence from Indonesian Non-Financial Companies","authors":"Kharisma Elfianda Hamidlal, I. Harymawan","doi":"10.24815/JDAB.V8I1.17942","DOIUrl":"https://doi.org/10.24815/JDAB.V8I1.17942","url":null,"abstract":"This research aims to examine the relationship between the CEO power and firm value of non-financial companies listed on the Indonesia Stock Exchange during the 2014-2018 period. The samples are 322 observations and selected through purposive sampling method. Data was analyzed using multiple linear analysis methods. The results uncovered that ownership power, expert power and prestige power have a positive relationship with firm value. The most probable reasons could be that CEO share ownership encourages better decision-making process that contribute to enhanced corporate value. A longer tenure as a CEO signals high professionalism and expertise of the CEO that led to improved decision quality made by the CEO.","PeriodicalId":31235,"journal":{"name":"Jurnal Dinamika Akuntansi dan Bisnis","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-03-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45347408","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-03-25DOI: 10.24815/JDAB.V8I1.17011
Gazani Izmar Muhammad, Y. Aryani
The purpose of the study is to analyze the effect of carbon disclosure on firm value and examine the moderation effect of foreign ownership. This study used all of the companies listed on the Indonesia Stock Exchange (BEI) between 2016 and 2018 as the population and employed a purposive sampling method to determine 194 companies as the final data observation. The data were collected from annual report and sustainability report released by the sample companies and analyzed using Moderated Regression Analysis (MRA). The result shows that carbon disclosure negatively affects firm value, while, foreign ownership significantly moderates the relationship between both variables.
{"title":"The Impact of Carbon Disclosure on Firm Value with Foreign Ownership as A Moderating Variable","authors":"Gazani Izmar Muhammad, Y. Aryani","doi":"10.24815/JDAB.V8I1.17011","DOIUrl":"https://doi.org/10.24815/JDAB.V8I1.17011","url":null,"abstract":"The purpose of the study is to analyze the effect of carbon disclosure on firm value and examine the moderation effect of foreign ownership. This study used all of the companies listed on the Indonesia Stock Exchange (BEI) between 2016 and 2018 as the population and employed a purposive sampling method to determine 194 companies as the final data observation. The data were collected from annual report and sustainability report released by the sample companies and analyzed using Moderated Regression Analysis (MRA). The result shows that carbon disclosure negatively affects firm value, while, foreign ownership significantly moderates the relationship between both variables.","PeriodicalId":31235,"journal":{"name":"Jurnal Dinamika Akuntansi dan Bisnis","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-03-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42105531","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-04-04DOI: 10.24815/jdab.v7i1.15671
Dhiona Ayu Nani, Syaiful Ali
This study investigates the effect of the Strategy-Technology-Organization-People-Environment (STOPE) variables on the effectiveness of e-procurement implementation in improving accountability, transparency, efficiency, and effectiveness of local governments in Indonesia. The population of this study is local government procurement services (or LPSE) in Indonesia. The sample, 96 LPSE, was selected using a simple random sampling method. The data was collected through questionnaires distributed via email to 289 LPSE. The respondents were 33 managers and 63 information technology professionals of local government procurement services (33% response rate). To test the hypothesis and data analysis, Partial Least Squares (PLS) was used. The findings show that strategies, objectives, integration between organizations and systems, and human resource assistance can improve the accountability, transparency, efficiency, and effectiveness of the government in implementing procurement activities
{"title":"Determinants of Effective E-Procurement System: Empirical Evidence from Indonesian Local Governments","authors":"Dhiona Ayu Nani, Syaiful Ali","doi":"10.24815/jdab.v7i1.15671","DOIUrl":"https://doi.org/10.24815/jdab.v7i1.15671","url":null,"abstract":"This study investigates the effect of the Strategy-Technology-Organization-People-Environment (STOPE) variables on the effectiveness of e-procurement implementation in improving accountability, transparency, efficiency, and effectiveness of local governments in Indonesia. The population of this study is local government procurement services (or LPSE) in Indonesia. The sample, 96 LPSE, was selected using a simple random sampling method. The data was collected through questionnaires distributed via email to 289 LPSE. The respondents were 33 managers and 63 information technology professionals of local government procurement services (33% response rate). To test the hypothesis and data analysis, Partial Least Squares (PLS) was used. The findings show that strategies, objectives, integration between organizations and systems, and human resource assistance can improve the accountability, transparency, efficiency, and effectiveness of the government in implementing procurement activities","PeriodicalId":31235,"journal":{"name":"Jurnal Dinamika Akuntansi dan Bisnis","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-04-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46493902","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-10-05DOI: 10.24815/jdab.v6i2.14153
N. Alsharari, Alhashmi Aboubaker Lasyoud
This paper aims to review the relevant literature on the role of management accounting in organizational management. It also compares traditional and new or strategic management accounting and their limitations. It focused on the role of management accounting in the constitution of organizations and the ways in which management accounting systems as structures of intentionality both shape and are shaped by shared norms and understandings. The findings help to understand the concerns of the current mainstream in management accounting literature. In fact, the findings cohere with Hopwood and Scapens and their followers in the sense that management accounting is not a static phenomenon but one that changes over time to reflect new forms and practices. It was also found that management accounting is part and parcel of organizational change. By reviewing a subset of the studies on accounting history published during the period 1980 - 2018, this paper updates accounting history literature by focusing on management accounting research. The paper also contributes to the existing literature by presenting the discussions of management accounting and organizational change. However, other studies can consider this paper as starting point to examine other areas of accounting such as financial accounting.
{"title":"Is Traditional Management Accounting Still in Use? Contemporary Issues","authors":"N. Alsharari, Alhashmi Aboubaker Lasyoud","doi":"10.24815/jdab.v6i2.14153","DOIUrl":"https://doi.org/10.24815/jdab.v6i2.14153","url":null,"abstract":"This paper aims to review the relevant literature on the role of management accounting in organizational management. It also compares traditional and new or strategic management accounting and their limitations. It focused on the role of management accounting in the constitution of organizations and the ways in which management accounting systems as structures of intentionality both shape and are shaped by shared norms and understandings. The findings help to understand the concerns of the current mainstream in management accounting literature. In fact, the findings cohere with Hopwood and Scapens and their followers in the sense that management accounting is not a static phenomenon but one that changes over time to reflect new forms and practices. It was also found that management accounting is part and parcel of organizational change. By reviewing a subset of the studies on accounting history published during the period 1980 - 2018, this paper updates accounting history literature by focusing on management accounting research. The paper also contributes to the existing literature by presenting the discussions of management accounting and organizational change. However, other studies can consider this paper as starting point to examine other areas of accounting such as financial accounting.","PeriodicalId":31235,"journal":{"name":"Jurnal Dinamika Akuntansi dan Bisnis","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-10-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48648338","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-10-04DOI: 10.24815/jdab.v6i2.13961
Sony Warsono-bin-Hardono, Arin Pranesti, Frida Fanani Rohma, Devandani Ken Priambodo
This study investigates the determinants of performance of financial accounting lecturers and instructors in Indonesia. The factors analyzed are competence, rigor, and thoroughness. The data was collected through experiment involving 110 instructors who are lecturers and instructors from universities, colleges, and polytechnic institutions in Indonesia. The participants were invited to the experiemental activity conducted in September 2016. The results show that competence, rigor, and thoroughness have positive effects on the performance of accounting instructors. The findings also confirm that competence, rigor, and thoroughness are the main qualities they must possess to perform optimally in their duties
{"title":"What Determine Performance of Financial Accounting Lecturers? An Experimental Study in Indonesian Higher Education Institutions","authors":"Sony Warsono-bin-Hardono, Arin Pranesti, Frida Fanani Rohma, Devandani Ken Priambodo","doi":"10.24815/jdab.v6i2.13961","DOIUrl":"https://doi.org/10.24815/jdab.v6i2.13961","url":null,"abstract":"This study investigates the determinants of performance of financial accounting lecturers and instructors in Indonesia. The factors analyzed are competence, rigor, and thoroughness. The data was collected through experiment involving 110 instructors who are lecturers and instructors from universities, colleges, and polytechnic institutions in Indonesia. The participants were invited to the experiemental activity conducted in September 2016. The results show that competence, rigor, and thoroughness have positive effects on the performance of accounting instructors. The findings also confirm that competence, rigor, and thoroughness are the main qualities they must possess to perform optimally in their duties","PeriodicalId":31235,"journal":{"name":"Jurnal Dinamika Akuntansi dan Bisnis","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-10-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49213881","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-10-04DOI: 10.24815/jdab.v6i2.14087
F. Nur, Erwin Saraswati, Wuryan Andayani
Penelitian ini bertujuan untuk menguji determinan pengungkapan tanggung jawab sosial perusahaan (Corporate Sosial Responsibility/ CSR) dan pengaruh pengungkapan tanggung jawab sosial perusahaan terhadap nilai perusahaan. Teknik pemilihan sampel menggunakan purposive sampling. Ukuran sampel penelitian sebanyak 156 perusahaan yang terdaftar pada Bursa Efek Indonesia antara tahun 2014 dan 2017. Regresi data panel dengan model efek acak digunakan untuk menganalisis data penelitian. Hasil penelitian ini menunjukkan adanya pengaruh signifikan umur perusahaan, jumlah dewan komisaris, ukuran dan reputasi perusahaan terhadap pengungkapan CSR, namun tidak terdapat pengaruh kinerja keuangan, jumlah kepemilikan saham manajamen, dan likuiditas. Penelitian ini juga menemukan bahwa pengungkapan CSR dapat menentukan nilai perusahaan.
{"title":"Determinan Pengungkapan Tanggung Jawab Sosial Perusahaan dan Nilai Perusahaan: Kasus Indonesia","authors":"F. Nur, Erwin Saraswati, Wuryan Andayani","doi":"10.24815/jdab.v6i2.14087","DOIUrl":"https://doi.org/10.24815/jdab.v6i2.14087","url":null,"abstract":"Penelitian ini bertujuan untuk menguji determinan pengungkapan tanggung jawab sosial perusahaan (Corporate Sosial Responsibility/ CSR) dan pengaruh pengungkapan tanggung jawab sosial perusahaan terhadap nilai perusahaan. Teknik pemilihan sampel menggunakan purposive sampling. Ukuran sampel penelitian sebanyak 156 perusahaan yang terdaftar pada Bursa Efek Indonesia antara tahun 2014 dan 2017. Regresi data panel dengan model efek acak digunakan untuk menganalisis data penelitian. Hasil penelitian ini menunjukkan adanya pengaruh signifikan umur perusahaan, jumlah dewan komisaris, ukuran dan reputasi perusahaan terhadap pengungkapan CSR, namun tidak terdapat pengaruh kinerja keuangan, jumlah kepemilikan saham manajamen, dan likuiditas. Penelitian ini juga menemukan bahwa pengungkapan CSR dapat menentukan nilai perusahaan.","PeriodicalId":31235,"journal":{"name":"Jurnal Dinamika Akuntansi dan Bisnis","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-10-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42222360","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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