Journal of Accounting and Finance is a peer-reviewed scientific journal that aims to advance the field of accounting and finance by publishing high-quality research and innovative studies. The journal provides a platform for historians, researchers, and professionals to explore contemporary issues, theoretical developments, and practical applications in the domain of accounting and finance. Articles published in Yayasan Az Zukhruf Cendikia are processed completely boldly. Submitted articles will be peer-reviewed by qualified National and international Reviewers. Complete information for article submission and other instructions are available in each issue. Journal of Accounting and Finance is published annually in January, May, September but accepted articles will be queued in the In-Press edition before being published at the specified time. For more information, submissions, or inquiries, please visit our website or contact us. Journal Title : Journal of Accounting and Finance Initials : AJAF Frequency : January, May, September E-ISSN : 3090-4978 Chief Editor : Dr. Yusuf Faisal DOI Prefix : 10.65440 Publisher : Yayasan Az Zukhruf Cendikia Whatsapp Me : +62 856 11 17124 Accreditation : Non Sinta INDEXED : SPONSORS AND PARTNERS :
Corporate Governance and firm Characteristics on Intellectual Capital Disclosure
Purpose – This study aims to examine the effect of leverage, independent commissioners, ownership concentration, and firm age on Intellectual Capital Disclosure (ICD). Design/methodology/approach – This research employs a quantitative approach using secondary data obtained from annual reports of transportation & logistics and healthcare companies listed on the Indonesia Stock Exchange during 2021–2024. The sample consists of 45 firms with 180 firm-year observations selected using purposive sampling. Panel data regression analysis is applied, and model selection is conducted through Chow, Hausman, and Lagrange Multiplier tests. Data are processed using EViews. Findings – The results indicate that leverage has a negative effect on ICD, suggesting that higher debt levels tend to reduce voluntary disclosure of intellectual capital. Independent commissioners have a positive effect on ICD, indicating that effective board monitoring enhances transparency of intangible assets. Ownership concentration shows no significant effect on ICD. Firm age has a positive effect on ICD, implying that more experienced firms possess more mature disclosure practices. Research limitations/implications – This study is limited to two sectors and a four-year observation period. Future research may expand sector coverage, extend the period, or include additional governance variables. JEL : G34, M41
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The Effect of Profitability and Growth Opportunity on FirmValue in Companies Listed in the Jakarta Islamic Index (JII)
Purpose This study aims to re-examine the influence of profitability and growth opportunity on the value of companies in Islamic companies listed in the Jakarta Islamic Index (JII). This study is motivated by the phenomenon of fluctuations in company value and inconsistency in the results of previous research findings (research gap) regarding factors that affect company value in the Indonesian sharia capital market. Design/methodology/approach This study uses a quantitative approach with secondary data sourced from the company's annual report. The research population is all companies listed in the Jakarta Islamic Index (JII) for the 2022-2024 period. Using the purposive sampling technique, a sample of 23 companies that met the criteria was obtained. The data analysis technique used was panel data regression analysis with the help of EViews 9 software. Based on a series of model tests (Chow Test, Hausman Test, and Lagrange Multiplier Test), the Random Effect Model (REM) model was selected as the best estimation model. Findings The results of the study show that partially, profitability has a positive and significant effect on the value of the company, which supports the signal theory where high profits become a positive signal for investors. Likewise, growth opportunities have been proven to have a positive and significant effect on the company's value, in line with agency theory where management's ability to manage expansion opportunities increases shareholder confidence. Simultaneously, the variables of profitability and growth opportunity were able to explain the variation in company value (PBV) of 13.14%, while the rest was explained by other factors outside the study. Research limitations/implications This study has limitations on the relatively low Adjusted R-Square value (13.14%), indicating the presence of other important variables that are not included in the model. The practical implications of this research are for the management of companies at JII to continue to maintain profitability stability and optimize assets for growth opportunities to increase market valuation. For investors, these results emphasize that ROA indicators and asset growth are crucial signals in investment decision-making in Islamic stocks. JEL : G32, G11, M41
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The Effect of Green Intellectual Capital and Carbon Performance on Carbon Emission Disclosure
Purpose – This study aims to obtain empirical evidence on the influence of Green Intellectual Capital and Carbon Performance on Carbon Emission Disclosure. Design/methodology/approach – Quantitative research methods using secondary data and content analysis. The population in this study were companies in the Raw Materials sector that published annual reports audited by independent auditors and sustainability reports listed on the Indonesia Stock Exchange in 2022-2024. A purposive sampling method obtained panel data of 198 observations. The analytical technique used to test the hypothesis was multiple linear regression analysis using Eviews 9 software. Findings – The results of this study found that Green Intellectual Capital and Carbon Performance have a positive and significant effect on carbon emission disclosure. Research limitations/implications – This study discusses carbon emission disclosure and other factors such as Green Intellectual Capital and Carbon Performance, focusing on companies in the Raw Materials sector. This study uses a carbon emission disclosure checklist as a measure of carbon emission disclosure. Keywords – Carbon Emission Disclosure, Green Intellectual Capital and Carbon Performance JEL : M14
The Effect of Leverage and Dividend Policy on Going Concern Audit Opinion
Purpose – This study aims to examine the effect of leverage and dividend policy on the probability of receiving a going concern audit opinion in consumer non-cyclical companies listed on the Indonesia Stock Exchange during the post-pandemic recovery period (2022–2024). Design/methodology/approach – This study employs a quantitative research design using logistic regression analysis. The sample consists of 72 firm-year observations from consumer non-cyclical sector companies selected through purposive sampling. Leverage is proxied by the Debt-to-Equity Ratio (DER), dividend policy by the Dividend Payout Ratio (DPR), and the going concern audit opinion is measured as a dummy variable. Data analysis is conducted using EViews 9. Findings – The results indicate that leverage has a negative and statistically significant effect on the going concern audit opinion (β = −1.024; p = 0.025), suggesting that higher leverage reduces the likelihood of receiving a going concern modification. Dividend policy also shows a negative and statistically significant effect (β = −5.423; p = 0.040), indicating that dividend payments function as a credible financial signal that lowers auditor doubt regarding business continuity. Research limitations/implications – The study is limited to the consumer non-cyclical sector and a specific timeframe (2022-2024). It suggests that auditors and regulators should focus on leverage and dividend signals when assessing business continuity. JEL : G32, G11, M41
Beyond the Green Cosmetic: Evaluating the Non-Significance of Environmental Disclosure and Hedging Strategy on Market Valuation
Purpose – This study aims to examine the effect of Environmental Disclosure and Hedging Policy on Firm Value in transportation, logistics, and energy sector companies listed on the Indonesia Stock Exchange during 2022–2024. Design/methodology/approach – This study employs a quantitative approach using panel data regression analysis. The sample consists of 47 companies selected through purposive sampling from a population of 128 firms. Model selection was conducted using the Chow test, Hausman test, and Lagrange Multiplier test. The final estimation model used is the Random Effect Model (REM). Findings – The results indicate that Environmental Disclosure has no significant effect on Firm Value. Similarly, Hedging Policy does not significantly influence Firm Value. These findings suggest that environmental transparency and risk management practices have not yet been fully valued by the Indonesian capital market during the observed period. Research limitations/implications – This study is limited to secondary data obtained from annual reports and a relatively short observation period (2022–2024). Future research is recommended to extend the period and refine measurement proxies. JEL : G32, G11, M41
The Influence of Business Risk and Corporate Growth on Debt Policy
Objectives – This study aims to analyze the influence of business risk and company growth on debt policy. Business risk reflects the uncertainty of operating profits, while corporate growth indicates the need for funding to support business expansion. Design/methodology/approach – This study uses a type of quantitative research. The sample in this study is 92 Energy sector companies listed on the Indonesia Stock Exchange in 2022-2024. The analysis technique used to test the hypothesis is logistic regression analysis using the Eviews 9 software. Findings – The results of the study show that business risk has a positive effect on debt policy, while company growth has a negative and insignificant effect on debt policy. Limitations/Implications of Research – The first limitation of this study is that the measurement of business risk still uses one financial proxy so that it does not fully reflect the company's operational volatility. Second, the independent variables used are limited to business risks and company growth, so the model's ability to explain debt policy is still low and does not include other potentially influential factors. Third, the relatively short research period, namely 2022–2024, has not fully described the long-term dynamics of the energy industry. Fourth, the heterogeneity of subsectors in the energy industry causes the results of the research to need to be generalized carefully. JEL : G31, G32, Q40, L94
The Effect of Green Accounting And Sustainability Reports On Financial Performance In The Industrial Sector Listed on The IDX In 2022-2024
Purpose: This study aims to obtain empirical evidence on the influence of Green Accounting, Sustainability Report on Financial Performance. Design/methodology/approach: This study uses quantitative research, with a sample of 41 companies in the industrial sector listed on the Indonesia Stock Exchange (IDX) from 2022 to 2024. The analysis technique used to test the hypothesis is multiple regression analysis using e- views 9 software. Findings: The results of this study found that Green Accounting has a positive and statistically insignificant effect on Financial Performance, while the Sustainability Report variable has a negative and statistically insignificant effect on Financial Performance. Originality/value: This study discusses Financial Performance and other factors such as Green Accounting and Sustainability Reports, focusing on companies in the industrial sector. Sustainability reports are measured using GRI Standard 2021 disclosures and are conducted in different sectors. This study produces new findings in the industrial sector in recent years. JEL : G32, G11, M41
Testing CSR Disclosures: Between Tax Pressures, Media Spotlights, and Profitability
Purpose – This study aims to examine the effect of Tax Aggressiveness, Media Exposure, and Profitability on Corporate Social Responsibility Disclosure (CSRD) in the context of CSR reporting obligations and increased public scrutiny in the post-pandemic period. Design/methodology/approach – This study uses a quantitative approach with panel data on energy, transportation, and logistics sector companies listed on the Indonesia Stock Exchange (IDX) during the 2022–2024 period. Hypothesis testing was conducted using multiple regression analysi. Findings – The results of this study indicate that the Tax Aggressiveness variable has a negative and statistically insignificant effect on Corporate Social Responsibility Disclosure, the Media Exposure variable has a negative and statistically insignificant effect on Corporate Social Responsibility Disclosure, and the Profitability variable has a negative and statistically significant effect on Corporate Social Responsibility Disclosure. Research limitations/implications – The research results indicate that Tax Aggressiveness and Media Exposure have a negative but not statistically significant effect on CSRD, while Profitability has a negative and statistically significant effect on CSRD. These findings suggest that CSR disclosure in high-risk sectors tends to reflect more cautious or defensive reporting behavior rather than pure transparency driven by stakeholders. JEL : G32, G11, M41
o Corporate Social Responsibility Disclosure
The Effect of Leverage and Company Size on Sustainable Development Goals
Purpose – This study aims to examine and analyse the relationship between Leverage and Company Size on Sustainable Development Goals. Design/methodology/approach – This study uses quantitative data. The sample consists of basic materials companies listed on the Indonesia Stock Exchange (IDX) from 2022 to 2024. The analysis technique used to test the hypotheses is multiple regression analysis, utilising eViews 9 software. Findings – The results demonstrate that firm size has a positive and significant impact on SDG disclosure. Conversely, leverage has an insignificant effect on SDG disclosure. These findings imply that debt levels are not a primary driver for sustainability transparency within Indonesia’s basic materials sector during the 2022–2024 period. Research limitations/implications – This study examines Sustainable Development Goals and other factors such as Leverage and Company Size, focusing on basic materials companies listed on the Indonesia Stock Exchange (IDX) from 2022 to 2024. JEL : G32, G11, M41
The Impact of Institutional Ownership and Public Ownership on Disclosure Of Carbon Emissions in Indonesia's Financial Sector
Objectives – This study aims to obtain empirical evidence on Institutional Ownership, Public Ownership of Carbon Emission Disclosure. Design/methodology/approach – This study uses a quantitative research type. The sample in this study is 63 financial sector companies listed on the Indonesia Stock Exchange in 2022-2024. The analysis technique used to test the hypothesis was panel data regression analysis using Eviews 9 software. Findings – The results of this study found that Institutional Ownership has a positive effect on Carbon Emission Disclosure. Public Ownership has a negative effect on Carbon Emission Disclosure. Research limitations/implications – Relying on secondary data so that the quality of the research is influenced by the completeness of the company's disclosure, Limited sample of only 63 out of 110 companies meeting the criteria, The use of regression and purposive sampling limits the generalization of results, The 2022–2024 period is relatively short to capture long-term trends. JEL : M14
The Effect Of Green Accounting, Profitability, And Environmental Performance On Sustainable Development Goals
Purpose – This study aims to examine and analyze the relationship between Green Accounting, Profitability and Environmental Performance on Sustainable Development Goals. Design/methodology/approach – This study uses quantitative data, with a sample of raw material companies listed on the Indonesia Stock Exchange (IDX) for the period 2022-2024. The analysis technique used to test the hypothesis is multiple regression analysis using e-views 9 software. Findings – The results of this study show that in the Green Accounting variable has a positive and statistically insignificant effect on Sustainable Development Goals, Profitability has a positive and statistically significant effect on Sustainable Development Goals, and Environmental Performance has a positive and statistically insignificant effect on Sustainable Development Goals. Research limitations/implications – This study has limitations related to the use of secondary data that depend on the completeness of corporate reports, resulting in a limited sample size. In addition, differences in variable measurement approaches and a relatively short observation period (2022–2024) restrict the ability to capture long-term trends. And future studies are recommended to incorporate additional variables related to SDG achievement, apply alternative measurement approaches, and extend the research scope to industries beyond the raw materials sector, such as financial services, infrastructure, and technology and telecommunications. JEL : M41, Q01, Q56
The Effect of Corporate Social Responsibility Disclosure, Good Corporate Governance, Intellectual Capital, and Company Size on Company Financial Performance
Purpose – This study aims to examine the effect of Corporate Social Responsibility Disclosure, Good Corporate Governance, Intellectual Capital, and Company Size on Company Financial Performance in non-cyclical consumer sector companies listed on the Indonesia Stock Exchange during the 2022–2024 period. Design/methodology/approach – This research employs a quantitative approach using secondary data obtained from annual reports and financial statements. The sample consists of 147 firm-year observations selected through purposive sampling. Company financial performance is proxied by Return on Assets (ROA). Panel data regression analysis is applied using the Random Effect Model, with model selection conducted through Chow, Hausman, and Lagrange Multiplier tests. Findings – The results indicate that Corporate Social Responsibility Disclosure has a negative and statistically significant effect on company financial performance. Good Corporate Governance shows a negative but statistically insignificant effect on financial performance. Meanwhile, Intellectual Capital and Company Size have a positive but statistically insignificant effect on company financial performance. Research limitations/implications – This study is limited to the non-cyclical consumer sector and a relatively short observation period, which may restrict the generalizability of the findings. In addition, the use of specific proxies for corporate governance and financial performance may not fully capture the complexity of these constructs. Future research is encouraged to expand the observation period, include other sectors, and apply alternative performance measures or analytical approaches
Corporate Social Responsibility Disclosure
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The Effect Of Green Accounting, Environmental Costs, Profitability, and Leverage On Firm Value
Purpose – This study aims to provide empirical evidence on the effects of Green Accounting, Environmental Costs, Profitability, and Leverage on Firm Value in the Basic Materials Sector. Design/methodology/approach – This study employs a quantitative research design using secondary data from 44 basic materials companies listed on the Indonesia Stock Exchange during the 2022–2024 period, resulting in 132 firm-year observations selected through purposive sampling. Panel data regression analysis is applied using the Fixed Effect Model (FEM), as determined by the Chow and Hausman tests, with data processed using EViews 9. Findings – The results indicate that Green Accounting has a negative but statistically insignificant effect on firm value, while Environmental Costs, Profitability, and Leverage exhibit positive but statistically insignificant effects. These findings suggest that the Indonesian capital market, particularly in the basic materials sector, has not yet fully incorporated sustainability-related disclosures and financial structure indicators into firm valuation. The results imply that investors continue to prioritize short-term financial stability over long-term environmental and sustainability signal. Originality/value - This study contributes to the literature by providing sector-specific empirical evidence from the Indonesian basic materials industry during a period of intensified industrial expansion and sustainability pressure. The findings highlight the current market perception of environmental accountability as a cost burden rather than a value-enhancing signal, offering important insights for managers and policymakers regarding the strategic communication of sustainability practices.
The Influence of Taxpayer Awareness on Motor Vehicle Taxpayer Compliance
Purpose – The purpose of this study is to obtain empirical evidence regarding the effect of taxpayer awareness on motor vehicle taxpayer compliance in Bekasi Regency, with tax sanction as a moderating variable. Design/methodology/approach – This research employs a quantitative approach with individuals as the unit of analysis, including employees from the private sector, state-owned enterprises (SOEs), the education sector, civil servants, and self-employed individuals who personally own motor vehicle in Bekasi Regency, particulary in the subdistrict of Tambun Selatan, Babelan, and Cibitung. The researcher’s involment is kept minimal. A total of 365 respondents were obtained using a snowball sampling method, where participants refer others within their network. Data were collected through a structured questionnaire, and the analysis was conducted using Partial Least Squares Structural Eqution Modelling (PLS-SEM) version 4.0. Findings – His research shows that taxpayer awareness has a significant and positive effect on taxpayer compliance. Likewise, a clear understanding of tax regulations makes a positive and significant contribution to taxpayer compliance. Apart from that, tax sanctions also act as a strengthening factor in the relationship between awareness of taxpayer compliance, as well as the relationship between understanding tax regulations on taxpayer compliance. Research limitations/implications – This research has a number of limitations that emerged during the data collection process. One of the main challenges was attracting some respondents to fill out the questionnaire boldly because they were concerned about risk of digital fraud. In addition, the geographic scope of the research which only covers the Bekasi Regency are and the focus of respondents being limited to motor vehicle taxpayers means that the results of this research cannot be generalized to other types of taxes or areas with more complex conditions. In addition, some elderly respondents required assistance when fulfilling out the questionnaire to ensure that the answers given truly reflected their personal opinions and minimized filling errors
The Influence of Fiscus Services and Tax Bleaching on Taxpayers Compliance with Tax Socialization as a Moderating Variable
Purpose – This research aims to examine, analyze, and obtain empirical evidence about the influence of Fiscus Services and Tax Bleaching on Taxpayers Compliance with Tax Socialization as a moderating variable. Design/methodology/approach – This research uses quantitative research. This research was conducted using a quentionnaire distributed to motor vehicle Taxpayerss registered with SAMSAT Bekasi City in 2023 with total of 120 respondents. Each questionnaire distributed contains 40 questions for repondents to answer. To get the results of this research, researches used PLS SEM Version 3.0. Findings – The results of this study found that Fiscus Services had a positive and unsignificant effect on Taxpayers Compliance, Tax Bleaching had a positive and significant on Taxpayers Compliance, and Tax Socialization could not strengthen the relationship between Fiscus Services and Tax Bleaching on Taxpayers Compliance. Research limitations/implications – This research has several limitations that should be considered when interpreting the results. First, the sample size is limited to 120 respondents in the Bekasi City area so it may not represent all motor vehicle Taxpayerss. Second, it uses cross-sectional data which cannot capture changer over time. Implications for future research include the need to expand the sample size to include a more diverse range and may also consider adding variables such as tax literacy, trust in tax institutions, or cultural factors to provide a more understanding of Taxpayers Compliance.
The Effect Of Islamic Work Ethic and Islam Corporate Governance On Financial Reporting Quality with Fraud Prevention as Moderating Variable
Purpose – This study aims to obtain empirical evidence on the influence of Islamic Work Ethic, Islam Corporate Governance, on Financial Reporting Quality with Fraud Prevention as variable moderating. Design/methodology/approach – The research uses a quantitative method with primary data. The population in this study comprises employees incorporated in islamic financial institutions banks scattered in Bekasi City and in Sampit City. The sampling technique used is random sampling and snowball sampling, resulting in questionnaire data of 60 respondents. The analytical technique used to test the hypothesis is multiple regression analysis using Partial Least Square (PLS). Findings – The results of this study indicate that the variables of Islamic Work Ethic and Islam Corporate Governance have a positive and statistically insignificant effect with Fraud Prevention worked out as a moderator which strengthens Islamic Work Ethic and Islam Corporate Governance on Financial Reporting Quality Research limitations/implications – This study examines how the enforcement of ethical accounting based on islamic values and islamic corporate governance in islamic financial institutions can affect the quality of their financial reporting. This study focuses on Islamic financial institutions and uses questionnaire data from 60 respondents.
The Influence of Tax Socialization and Tax Audits on Taxpayer Compliance with Tax Volunteers as a Moderation Variable
Purpose – This study aims to empirical evidence on the Influence of Tax Socialization and Tax Audits on Taxpayer Compliance with Tax Volunteers as a Moderation Variable. Design/methodology/approach – This study uses quantitative research. This study was conducted using a questionnaire distributed to lectures and practitioners who are member of the organization of people who pay Individual Taxpayers (WPOP), Micro, Small and Medium Enterprises (UMKM) and Large Companies, namely 30 questionnaires distributed via email and social media. Each questionnaire distributed contains 22 statements to be answered by respondents were obtained who provided answer from various regions. To obtain the results of this study, the research and PLS, SEM version 3.0 Findings –The results of this study found that tax socialization has a positive and significant effect on taxpayer compliance, tax audits have a positive and significant effect on taxpayer compliance, tax volunteers can strengthen the relationship between tax socialization and taxpayer compliance and tax volunteers can strengthen the relationship between tax audits. Research limitations/implications – This study focuses on taxpayer compliance, where this study is a new study in discussing the relationship between tax socialization and tax audits based on attribution characteristics.
The Effect Of Individual Morality, Good Corporate Governance On Accounting Fraud With Moderation Of Organizational Culture
Purpose – This study aims to examine how Individual Morality and Good Corporate Governance affect accounting fraud and assess how Organizational Culture moderate Individual Morality and Good Corporate Governance on Accounting Fraud. Design/methodology/approach – This research uses quantitative methods, with primary data collected from a population of 120 people who work in the Shopee Marketplace. Data analysis was carried out using smartPLS software with Moderated Regression Analysis Findings – Individual Morality has a negative and statistically insignificant effect on Accounting Fraud, Good Corporate Governance has a positive and statistically significant effect on Accounting Fraud, Organizational Culture can strengthen the relationship between Individual Morality on Accounting Fraud, Organizational Culture cannot strengthen the relationship between Good Corporate Governance and Accounting Fraud. Originality/value – This research focuses on Accounting Fraud, where this research is a new research in discussing the relationship between Individual Morality and Good Corporate Governance in the Shopee marketplace.
The Effect of Human Resource Competencies and Accounting Information Systems on The Quality of Financial Reporting with Good Corporate Governance as A Moderating Variable
Purpose – This study aims to examine how human resource competencies and accounting information systems affect the quality of financial reporting. And assess how good corporate governance moderate the effects of human resource competencies and accounting information systems on financial reporting quality. Design/methodology/approach – This study employs quantitative research methods, utilizing primary data collected through social media from employees of the finance and accounting division in financial institutions and accounting students. 35 respondents answered the survey. To analyze the data, the researchers used PLS-SEM Version 3.0. Findings – The findings reveal that human resource competencies significantly enhance the quality financial reporting and accounting information systems insignificantly enhance the quality financial reporting. Good corporate governance serves as a homologist moderator and predictor moderator that cannot strengthen the relationship between human resource competencies, accounting information systems and financial reporting quality. Research limitations/implications – This research is expected to contribute to the academic literature and aid in developing a more comprehensive theoretical model for understanding similar issues. This research can serve as a reference for testing variables of human resource competencies and accounting information systems as independent variables, financial reporting quality as a dependent variable, and good corporate governance as a moderating variable. It is particularly relevant for employees in the finance and accounting division of financial institutions and accounting students.
The Efect of Fraud Prevention and Organizational Culture On The Quality Of Financial Reporting with Accounting Information Systems As Moderating Variables
Purpose – This study aims to obtain empirical evidence of the effect of fraud prevention and organizational culture on reporting quality with accounting information systems as moderating variables. Design/methodology/approach – This research uses quantitative research. This research was conducted using a questionnaire distributed to employees of PT. Teladan Prima Agro, PT Selaintai Agro Lestari and PT. Guna Agung Semesta, namely 110 questionnaire distributed via email and WhatsApp. Each questionnaire has 34 questions to be answered by respondents, to get the results of this study researchers used PLS SEM Version 3.0 Findings – This results of this study found that fraud prevention has a positive and insignificant effect on the quality of financial reporting, organizational culture has a significant positive effect on the quality of financial reporting, accounting information systems do not strengthen fraud prevention on quality of financial reporting and accounting information systems do not strengthen organizational culture on the quality of financial reporting. Research limitations/implications – This study discusses the the quality of financial reporting and the factorrs that influence it at PT. Teladan Prima Agro, PT. Selantai Agro Lestari and PT. Guna Agung Semesta.
The Influence of Profitability, Liquidity, Investment Opportunity Set, Managerial Ownership and the Independent Board of Commissioners on Dividend Policy
Purpose: This study aims to determine the influence of Profitability, Liquidity, Investment Opportunity Set, Managerial Ownership and the Independent Board of Commissioners on Dividend Policy. Design/methodology/approach: This study uses quantitative data, the sample in this study is 9 industrial sector companies listed on the Indonesia Stock Exchange in the period 2017 – 2023. The analysis technique used to test the hypothesis is multiple regression analysis using Eviews9 software. Findings: The test results show that Profitability and managerial ownership have a positive and insignificant effect on the Dividend Policy, while Liquidity has a positive and significant effect on the Dividend Policy, and the Investment Opportunity Set and the Independent Board of Commissioners have a negative and insignificant effect on the Dividend Policy. Research limitations/implications: This study discusses Dividend Policy and other factors such as Profitability, Liquidity, Investment Opportunity Set, Managerial Ownership and the Independent Board of Commissioners which focuses on industrial sector companies. This study uses the Dividend Payout Ratio as a measurement of the Dividend Policy.
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The Effect Of Institutional Ownership, Leverage, Company Size And Tax Planning On The Cost Of Debt In The Financial Sector
Purpose: This study aims to test and analyze the relationship between Institutional Ownership, Leverage, Company Size and Tax Planning on Cost of Debt. Design/methodology/approach: This study uses quantitative data, the sample in this study is a financial sector company listed on the Indonesia Stock Exchange in the 2017-2023 period as many as 46 companies. The analysis technique used to test the hypothesis is multiple regression analysis using eviews 9 software. Findings: The results of this study indicate that the Institutional Ownership variable has no effect and is statistically insignificant to the cost of debt, the Leverage variable has an effect and is statistically significant to the cost of debt, the Company Size variable has no effect and is statistically insignificant to the cost of debt, and the Tax Planning variable has an effect and is statistically significant to the cost of debt. Research limitations/implications: This research discusses the Cost of Debt and other factors such as Institutional Ownership, Leverage, Company Size and Tax Planning that focus on the financial sector
The Effect Of Firm Size, Managerial Ownership, Capital Structur, and Dividend Policy On Financial Perfomance
Purpose – This study aims to obtain empirical evidence on the influence of Firm Size, Managerial Ownership, Capital Structure, and Dividend Policy on the Financial Performance of Companies. Design/methodology/approach – The research uses a quantitative method with secondary data. The population in this study comprises energy sector companies that publish audited annual reports by independent auditors listed on the Indonesia Stock Exchange from 2019-2023. The sampling technique used is purposive sampling, resulting in panel data of 55 observations. The analytical technique used to test the hypothesis is multiple regression analysis using Eviews 9 software. Findings – The results of this study indicate that the variables of Firm Size and Dividend Policy have a positive and statistically significant effect on Financial Performance. However, managerial ownership and capital structure do not have a significant impact on financial performance. Originality/Value – This study discusses Financial Performance and other factors such as Firm Size, Managerial Ownership, Capital Structure, and Dividend Policy, focusing on energy sector companies. This study uses the return on assets ratio as a measure of the company's Financial Performance.
The Effect Of Profitability, Managerial Ownership, Leverage, and Firm Size On Income Smoothing
Objective – This research aims to determine the impact of profitability, managerial ownership, leverage, and firm size on income smoothing Design/methodology/approach – This research uses quantitative data, the sample of this company is a commodity sector company listed on the Indonesian Stock Exchange in 2018-2023 of 19 companies. The analysis technique used to test the hypothesis is a logistic regression analysis using Eviews 9 software. Findings – The results of this research show that the profitability variables, leverage and company size, have no effect on income smoothing, while the managerial ownership variable has a positive significant effect on income smoothing. Originality/Value – This research discusses income smoothing and other factors such as profitability, managerial ownership, leverage and company size, focusing on companies in the raw goods sector. The difference between this research and previous research lies in the research period, the company sector studied, and the measurements used.
The Effect of Return on Equity and Dividend Payout Ratio On Price Earnings Ratio in Food and Beverage Sub-Sector Companies Listed On The Indonesian Stock Exchange In 2017-2022
Purpose – This study aims to determine the effects of Return On Equity and Dividend Payout Ratio on Price Earning Ratio. Design/methodology/approach – This research uses quantitative data. The sample consists of 15 food and beverage sub-sector companies listed on the Indonesian Stock Exchange during the 2017–2022 period. The hypothesis is tested using multiple regression analysis with EViews 9 software. Findings – The results indicate that the Return on Equity variable has a positive and statistically significant effect on the Price Earning Ratio. Similarly, the Dividend Payout Ratio has a positive and statistically significant effect on the Price Earning Ratio. Research limitations/implications – This study focuses on Price Earning Ratio and its relationship with Return on Equity and Dividend Payout Ratio in the context of food and beverage sub-sector companies. It is limited to a specific time frame (2017–2022) and a sample size of 15 companies.