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Credit Value-Relevance of Earnings, Other Comprehensive Income, and Comprehensive Income: A Study on IFRS Adoption Stage in Indonesia

Widiastuti, Harjanti ( Department of Accounting Universitas Muhammadiyah Yogyakarta ) , Safira, Elsi ( Department of Accounting Universitas Muhammadiyah Yogyakarta )

Journal of Accounting and Investment Vol 19, No 2: July-December 2018
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

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Abstract

This research aims to examine the credit value-relevance of net income, other comprehensive income (OCI) and comprehensive income. This research indirectly examines the impact of IFRS adoption on the usefulness of earnings and OCI information. The credit value-relevance measures the usefulness of accounting information from the creditor perspective, represented by the bond rating agency. In this research, accounting information is said to have credit value-relevance if accounting information affects bond rating. The sample of this research is 495 bond issuer companies listed in Indonesia Stock Exchange period 2011-2016. Hypothesis testing is done by the logit regression test. The results show that net income and comprehensive income have credit-value relevance, whereas OCI has no credit relevance. The results also find an increase in the credit-value relevance of comprehensive income from the beginning adoption of IFRS (2011) to the first implementation of IFRS adoption.

Will Goodwill Value in Indonesia Become More Relevant After IFRS Convergence?

Wahyuni, Ersa Tri ( Department of Accounting Universitas Padjadjaran ) , Dewantoro, Dewantoro ( Department of Accounting Universitas Padjadjaran ) , Avianti, Ilya ( Department of Accounting Universitas Padjadjaran )

Journal of Accounting and Investment Vol 19, No 2: July-December 2018
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

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Abstract

This research aims to analyse the value relevance of goodwill in Indonesia before and after International Financial Report Standard (IFRS) convergence. Prior to the IFRS convergence period, goodwill should be amortised, while after the IFRS convergence the amortisation was prohibited and goodwill should be tested for impairment on annual basis. This research investigates goodwill among Indonesian listed companies in Kompas 100 index for the period 2009-2015. As many as 39 samples were selected for the period before the IFRS convergence and 56 samples were selected for the post-IFRS convergence period. Using panel data regression analysis the research finds that before the IFRS adoption, both goodwill and goodwill amortisation did not have significant value to the market value of the companies.  However goodwill has significant value to the market price of the companies after IFRS convergence (2011-2015), while goodwill impairment losses did not. However we found more companies recording impairment loss arround the adoption year (2011-2012) than the years afterward. We tested the significant of impairment loss around the year of adoption and the test shows goodwill impairment loss has significant value to the market price of the companies. Thus, the adoption of IFRS 3 which required goodwill impairment has improved the value relevance of goodwill. The adoption of IFRS 3 also encouraged the companies to impair their goodwill at the adoption year and immidiate year after. Impairment loss had been perceived positive by the investors which is shows by its positive correlation with the market price. This may indicate Indonesian investors appreciate the purification of goodwill number from hidden past impairment and anticipate the higher future Return on Asset.   

Determinant of Accounting Students Understanding on Riba

Wibowo, Sigit Arie ( Department of Accounting Universitas Muhammadiyah Yogyakarta ) , Mulantono, Dea Rizaldi ( Department of Accounting Universitas Muhammadiyah Yogyakarta )

Journal of Accounting and Investment Vol 19, No 2: July-December 2018
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

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Abstract

in press

Tax Avoidance, Corporate Governance and Firm Value in The Digital Era

Yee, Chen Siew ( Department of Accountancy University of Malaya ) , Sapiei, Noor Sharoja ( Department of Accountancy University of Malaya ) , Abdullah, Mazni ( Department of Accountancy University of Malaya )

Journal of Accounting and Investment Vol 19, No 2: July-December 2018
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

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Abstract

In this study, we examine the link between tax avoidance and firm value and identify the moderating effect of corporate governance in this digital era. Corporate tax avoidance activities have been considered as value-enhancement activities to the companies and better quality of corporate governance would positively related to firm value. This study uses a sample of Malaysian Public Listed Companies (PLCs) which ranked the top 100 companies of good disclosure in the Malaysia-ASEAN corporate governance report 2014. It was conducted using cross-sectional data by observing a final sample of 82 PLCs at one point in time. We provide evidence from Malaysia that corporate tax avoidance behaviour would actually reduce firm value and corporate governance has moderator effect on the relationship of tax avoidance and firm value. This study offers practical insights to the government and policymakers in understanding the tax avoidance behaviour of company and it helps in forming adequate and effective taxation system in Malaysia. We also give constructive apprehension to Malaysian companies to understand the negative consequences of corporate tax avoidance when engaging in tax planning activities aggressively. Most importantly, this study added more evidence to the stream of literature that investigates the role of tax avoidance strategies, as moderated by the level of corporate governance, in determining the firm value in this era of technology.

Does Type of Fraudulent Act Have an Impact On Whistleblowing Intention?

Putri, Caesar Marga ( Department of Accounting Universitas Muhammadiyah Yogyakarta )

Journal of Accounting and Investment Vol 19, No 2: July-December 2018
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

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Abstract

The purpose of this research is to examine empirically the impact of two types of fraudulent act on individual’s reporting intention under reward model. This research applied the Reinforcement theory in designing whistleblowing policies. In this context, reward system in encouraging disclosure of fraudulent act was used. This study was designed using experiment method 2x2 between subjects with 86 participants from private universities. Sarbanes-Oxley Act of 2002 requires that every public company must establish anonymous channel regarding disclosure of fraudulent act. However, under the reward system it may become different prediction that non-anonymous channel is preferable than the other one. Using two types of fraudulent act, this research investigated whether those types affected individual’s intention for disclosing fraud in choosing the reporting channel because a reward is provided or not. The result shows that the interaction between the type of fraudulent act and type of channel could encourage individual’s intention to blow the whistle. However, individual prefers to report the misappropriation of asset through anonymous channel than non-anonymous even though a reward is provided.

Herding Behavior Post Initial Public Offering In Indonesia Stock Exchange

Arisanti, Ike ( Department of Accounting, Universitas Muhammadiyah Malang ) , Asri, Marwan ( Master of Management Program, Universitas Gadjah Mada )

Journal of Accounting and Investment Vol 19, No 2: July-December 2018
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

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Abstract

This research was conducted to test whether there is a herding behavior post Initial Public Offering (IPO) in Indonesia Stock Exchange. Domestic transactions on the Indonesia Stock Exchange are rising year by year along with the increased of IPO emissions. The existence of underpricing phenomenon causes a domino effect (herding) that arises on potential investors after the IPO. This study used Cross-Sectional Absolute Deviation (CSAD) method to detect herding behavior. The data used were daily price data of IPO shares from the 1st day until the 30th day after IPO period 2005-2015. Hypothesis testing was done using regression analysis by means of CSAD variable as dependent variable and return market as independent variable. The result of this research indicated that there was a herding behavior post -IPO in Indonesia Stock Exchange period 2005-2015 period. It is shown by the negative and significant value of γ2 (0.013 <0.05).

Deconstructing the Concept of Corporate Social Responsibility: Social Investment on Luwu Indigeous Society

Rahmawati, Rahmawati ( Department of Accounting, Sekolah Tinggi Ilmu Ekonomi Muhammadiyah Palopo )

Journal of Accounting and Investment Vol 19, No 2: July-December 2018
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

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Abstract

This research deconstructed the values contained in the concept of Corporate Social Responsibility (CSR) which is used by company for social investment aimed at prospering the community. In fact, consideration on such investment is merely for the profit and reputation of the company. The logos in this research is capitalist which is still the ideology of CSR so that deconstruction is conducted using symbol value of Kedatuan Luwu (Pakka and Payung Ri Luwu). The reality of corporate social responsibility is still on the implementation of handling negative impact caused by company activity. The company operates still with the purpose of maximizing profit which is still filled with material factors based on capitalist ideology. The deconstructed value is the value of profit that is taken into consideration is material in social activities that lead to the concept of capitalism. The intended profit should be the profit that becomes the economic impact of the activity so that the company earns profit and reputation done with dignity before the community and God. The methodology used was qualitative with the paradigm of postmodernism by deconstructing the indigenous symbols of Kedatuan Luwu by including "ade" and "sara" as the order that should be applied in the implementation of CSR to be accepted by local indigenous people. The result of this research was obtained after the researcher deconstructed the concept of CSR proposed by Elkington about Triple Bottom Line (People, Planet and Profit), and analyzing Triyuwonos deconstruction result by adding Prophet and God to CSR concept. From our analysis we found that conflicts between companies and indigenous people were due to the concept of CSR that only emphasized the impact of profit, planet, people, prophet and God were not enough if the way to implement and interact with the local community is still capitalist. Therefore, this study found that its solution is by destroying the logos of capitalism and deconstructing it using the traditional philosophy of Kedatuan Luwu "Pattuppu ri AdeE Pasanre Ri SaraE. The philosophy means that whatever conducted in Tana Luwu must be based on the Luwu customs and should not be contrary to the religion.

Employees’ Whistleblowing Intention in Public Sector: The Role of Perceived Organizational Support as Moderating Variable

Yuswono, Tito Agung ( Graduate School of Management, Universtas Indonesia ) , Hartijasti, Yanki ( Graduate School of Management, Universtas Indonesia )

Journal of Accounting and Investment Vol 19, No 2: July-December 2018
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

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Abstract

Whistleblowing has an important role in exposing wrongdoings or misconducts occurring within an organization. This study aimed to examine the perceived organizational support as a moderating variable of attitudes and perceived behavioral control. This study used a quantitative method with convenience sampling of 286-employees working in the public sector, which was then analyzed using hierarchical regression analysis. The results show that the perceived organizational support significantly played a role as a moderation influencing attitudes and perceived behavioral control over internal whistleblowing intentions. To improve internal whistleblowing intentions, organizations can create anonymous reporting channels and socialize whistleblowing systems.

Understanding on and Need for Syaria Insurance: A Case Study in Pekalongan, Central Java, Indonesia

Ismanto, Kuat ( Department of Syaria Economics, Institut Agama Islam Negeri Pekalongan )

Journal of Accounting and Investment Vol 19, No 2: July-December 2018
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

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Abstract

Objective of the study was to explore how much Pekalongan residents understand and need Syaria insurance in Indonesia. The data collection methods were questionnaire and interview. The questionnaires were distributed randomly to 136 samples/ respondents. The interview was conducted to 10 informants in order to elaborate meaning, respondent’s understanding need and response on syaria insurance. The data analysis method was descriptive-qualitative analysis. The findings showed that most respondents had good level of understanding on syaria insurance. Some respondents stated that insurance was “important” while some others stated that it was “very important.” The respondents considered syaria insurance as investment, financial solution, financial security, business requirement, pension plan and future investment. However, the respondents had very basic understanding on syaria insurance. They associated syaria insurance with Islamic-based insurance and non usury (excessive interest). It implied that there is a market for syaria insurance in this city. It is expected that government and companies support development of syaria insurance in Indonesia.

Editorial JAI Edisi Januari 2018

Widiastuti, Harjanti

Journal of Accounting and Investment Vol 19, No 1: January-June 2018
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

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Abstract