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Current issue Volume 7, Issue 1 (February 2023)


  • Financial Statement Fraud Detection Using Diamond Theory Analysis and Covid-19
    Original Research Article
    Country Indonesia
  • Pages 01-11
  • Mahendra Pamungkas || Eskasari Putri
  • Abstract | pdf Pdf
  • The purpose of this research is to ascertain how financial statement fraud in manufacturing firms in the goods and consumer industry sector is affected by diamond fraud analysis using a beneish model. Diamond fraud with pressure (financial stability, financial targets), with opportunity (industry nature), with rationalization (change of auditors), with capability (change of director), and covid. Purposive sampling is the methodology that is used (method using certain criteria). 184 manufacturing businesses in the goods and consumer sector that were listed on the Indonesia Stock Exchange in 2018–2021 made up the study's sample. The multiple regression model from IBM SPSS 26.0 was used in this study. The results of this research show that while the nature of industry variables has a significant impact on financial statement fraud, financial stability, financial targets, rationalization, capability, and covid do not have a significant impact.


    • The Effect of Current Ratio, Debt to Equity Ratio and Total Assets turnover on Profit Growth in Property and Real Estate Companies Listed on the Indonesia Stock Exchange for the 2019 – 2021 Period
      Original Research Article
      Country Indonesia
    • Pages 12-24
    • Restia Christianty || Zainuddin Latuconsina
    • Abstract | pdf Pdf
    • This study aims to examine the effect of the Current ratio, Debt to Equity Ratio, and Total Asset Turnover on profit growth in Property and Real estate companies listed on the Indonesian stock exchange. The population in this study are property and real estate companies listed on the Indonesian stock exchange for the 2019-2021 period. The sample in this study is the 2019-2021 Property and Real estate Company Financial Statements which were taken using the purposive sampling method, so 26 companies were obtained as samples. And using multiple linear regression analysismethods, classic assumption test, t-test (partial test), and the coefficient of determination with the help of SPSS (StatisticalProduct and Service Solutions) v16 software. Based on the study’s results, it can be concluded that the current ratio partially has a positive and significant effect on profit growth. In contrast, the Debt to Equity Ratio has a non-significant positive effect on profit growth. Total Asset Turnover has a positive and significant effect on profit growth in registered Property and Real estate Companies on the Indonesian stock exchange for the 2019-2020 period.


    • Analysis of the Effect of Operating Expenses on Operating Income (BOPO), Return on Assets (ROA), Return on Equity (ROE), on Loan to Deposit Ratio (LDR) at Bank Mandiri in 2014-2021
      Original Research Article
      Country Indonesia
    • Pages 25-34
    • Wahyu Sri Handayani || Nursiam
    • Abstract | pdf Pdf
    • The purpose of this study is to analyze and find empirical evidence whether Operating Expenses on Operating Income (BOPO), Return on Assets (ROA), and Return on Equity (ROE) have an effect on the Loan to Deposit Ratio (LDR). The population in this study are financial reports issued by Bank Mandiri for 2014-2021, in which a sample of 32 data was taken using purposive sampling. Based on tests carried out with the help of the SPSS software program version 25, the results of this study state that Operating Expenses to Operating Income (BOPO), Return on Assets (ROA) andReturn on Equity (ROE) have an effect on the Loan to Deposit Ratio (LDR).


    • The Influence of Institutional Ownership, Independent Commissioner, Audit Committee, Company Age, and Company Size on Disclosure of Corporate Social Responsibility
      Original Research Article
      Country Indonesia
    • Pages 35-43
    • Nadia Ella Zulfa || Zulfikar
    • Abstract | pdf Pdf
    • This articlewas written to determine the effect of institutional ownership, independent commissioners, audit committees, company age, and company size in the disclosure of corporate social responsibility in Islamic commercial banks. This type of research is quantitative research with secondary data obtained from the annual financial reports of Islamic public banking companies registered with the financial services authority in Indonesia for the 2017-2020 period. The sampling technique used purposive sampling method. There were 13 companies with a total of 52 data for 4 years of observation that matched the criteria. Data analysis used multiple linear regression with the help of the SPSS program.


    • Teleportation in Beloved and Kindred: Magical Realism, Sacred Realism, or Black Enchantment?
      Original Research Article
      Country Brazil
    • Pages 44-52
    • Sueli Meira Liebig
    • Abstract | pdf Pdf
    • Speculative fiction has been a genre that is traditionally seen as a Western endeavor, reinforcing colonial ideas since its appearing. On the other hand, magical realism is a mode of writing commonly understood as subversive and decolonial. This study tries to understand the work of magical realism or even sacred realism within speculative fiction, especially as it relates to modes of decolonization. In a movement towards feminist decolonization, magical realism works through the speculative trope of physical transformation within Octavia Butler’s Kindred and Toni Morrison´s Beloved. Beyond its aesthetic appeal, magical realism works in these texts as a method of subverting the Western gaze and questioning assumptions pertaining to Western history and science. Notwithstanding, one particular trait of this analysis is the case of teletransportation in both novels by two African-American writers.Due to the specific writing of these women as Black writers, could one say that this supernatural phenomena occurs in both works as magical realism, sacred realism, or black enchantment?


    • Berjaya Food Berhad: An Investment and Financial Decision-Making Insight
      Original Research Article
      Country Malaysia
    • Pages 53-65
    • Mohammad Noorizzuddin Nooh
    • Abstract | pdf Pdf
    • BJFood, also known as Berjaya Food Berhad, is a Malaysian venture capital firm that develops and operates chain restaurants, cafes and retail outlets. It was established as a public limited company on December 3, 2009, and it debuted on Bursa Malaysia's Main Market on March 8, 2011. The food and beverage industries have survived the COVID-19 Pandemic, which happened in the first quarter of 2020. This study evaluates the investment attractiveness of BJFood using financial ratio analysis, investment decisions, profitability performance, long and short-term financing decisions, share and risk assessments. BJFood's working capital condition is sound based on its operating cash flow. BJFood should consider selling of its part in Jollibean's franchise and looking at other foreign franchise to expand into because the food company is a lucrative market to venture into.


    • Effect of Good Corporate Governance, Corporate Social Responsibility, Company Size, and Leverage on Financial Performance in Indonesia Stock Exchange Listed Manufacturing Companies (IDX)
      Original Research Article
      Country Indonesia
    • Pages 66-74
    • Miftah Ilham Ramadhan Dwi Syahfitra || Rina Trisnawati
    • Abstract | pdf Pdf
    • This study aims to analyze the influence of the implementation of the Board of Commissioners, Audit Committee, Corporate Social Responsibility, Company Size and Leverage on financial performance. This research is a quantitative study using multiple linear regression analysis with the help of SPSS software. The population in this study are 209 manufacturing companies listed on the Indonesia Stock Exchange (IDX) for 2018-2021. The sampling technique in this study used a purposive sampling method, the samples used were 44 companies with a total of 176 samples collected over four periods and 34 samples were used for outlier data so that the final sample used in this study was 142 research samples. The results of the research analysis show that the board of commissioners, corporate social responsibility and leverage have an effect on financial performance. Meanwhile, audit committee and company size have no effect on financial performance.


    • The Role of Good Governance in Fraud Prevention Efforts: Internal Control as Moderator
      Original Research Article
      Country Indonesia
    • Pages 75-83
    • Barbara Gunawan || Linda Kusumastuti Wardana
    • Abstract | pdf Pdf
    • Dana Desa (Village Funding), which is generated from the state's expenditure budget, is prone to fraud, particularly if the village's application of good governance is still lacking. Village fund fraud is intended to be reduced by effective internal controls. The focus of this research is how strong governance affects village financial fraud in Sleman Regency, using internal control as a moderator. In this study, good governance is defined as responsibility, accountability, and transparency. As a result, the research issue is whether excellent governance has a detrimental impact on fraud prevention and whether Internal Control strengthens good governance's affect on fraud prevention. The study's primary data was collected from a survey of 101 employees of the sub-district office in the Sleman Regency, Special Region of Yogyakarta, who completed a questionnaire. The findings revealed that in the Sleman district, partial responsibility, accountability, and transparency had no effect on fraud prevention. Internal control, it turns out, has no effect on the influence of good governance on fraud prevention. The presence of internal control variables, which are expected to enhance the influence of good governance on fraud prevention measures, is a novel part of this study.


    • Tax Awareness, Rational Attitudes, Fiscal Services, Tax Sanctions, Education Level, Environment and Taxpayer Compliance (Study at KPP Pratama Surakarta)
      Original Research Article
      Country Indonesia
    • Pages 84-94
    • Azhara Putri Angelia || Mujiyati
    • Abstract | pdf Pdf
    • This research is based on the fact that KPP Pratama Surakarta lacks public awareness of tax compliance. Efforts are therefore needed to improve taxpayer compliance. The purpose of this study was to determine the impact of tax awareness, rational attitudes, tax authorities, tax sanctions, educational level, and environment on tax compliance. The method used in this study is a quantitative method using a sample of 100 taxpayers registered at KPP Pratama Surakarta. The type of data used is primary data obtained through distribution of questionnaires. The data analysis method uses multiple regression analysis. The results of this study show that the variables rationality, tax authority, tax penalty, and level of education do not affect tax compliance. However, tax awareness and environmental variables have a significant impact on tax compliance.


    • The Influence of Capital Structure, Return on Equity (ROE), and Return on Investment on the Value of Food and Beverage Companies Listed on the IDX 2018-2021
      Original Research Article
      Country Indonesia
    • Pages 95-102
    • Nurul Agustina || Wahyono
    • Abstract | pdf Pdf
    • Firm value is one of the company's goals to maximize share value. There are several factors that affect the value of the company, but the authors only examine three variables, namely capital structure, Return on Equity, and Return on Investment. This study aims to examine the effect of capital structure, Return on Equity, and Return on Investment on firm value. The population of this study are food and beverage companies listed on the IDX for the 2018-2021 period with a total of 34 companies and a sample of 18 companies. This study uses multiple linear analysis techniques. The results showed that the independent variables in this study were variables that had a significant and insignificant effect on firm value. The capital structure positively and significantly influences the firm's value. Return On Equity has a positive and insignificant effect on firm value. Return On Investment has a positive and significant effect on firm value.


    • Financial Ratios and Financial Distress: Evidence from Indonesian Industrial Subsectors
      Original Research Article
      Country Indonesia
    • Pages 103-112
    • Nafilah Yumna Iftinan || Rina Trisnawati
    • Abstract | pdf Pdf
    • This study intends to examine how financial parameters, such as the current ratio, retained earnings to total assets, earnings before interest and tax to total assets, return on equity, debt to equity ratio, and net profit margin, affect financial distress. This study makes use of secondary data in the form of information taken from annual reports or financial statements of companies. This study employs a quantitative approach method with multiple linear regression analysis approaches utilizing SPSS software. The population of this study consists of businesses in the industrial subsector that are listed on the Indonesia Stock Exchange (IDX) for the years 2018 through 2021. Purposive sampling was used in the sampling procedure, which led to the collection of 168 data from 42 companies. The study's findings show that the current ratio, retained earnings to total assets, earnings before interest and tax to total assets, return on equity, and debt to equity ratio are statistically significant in influencing financial distress. In the meantime, financial distress is unaffected by net profit margin.


    • The Influence of the Board of Commissioners, Board of Directors, Sharia Supervisory Board, and Audit Committee on the Financial Performance of Islamic Banking in Indonesia
      Original Research Article
      Country Indonesia
    • Pages 113-122
    • Nurfiati Syamsiah || Zulfikar
    • Abstract | pdf Pdf
    • This study aims to determine the influence of the Board of Commissioners, Board of Directors, Sharia Supervisory Board, and Audit Committee on Financial Performance in Islamic Banking in Indonesia that has been registered with Financial Services Authority in 2017-2020. The research method used by researchers in this study is a quantitative method. This study uses secondary data from annual reports of Islamic banking. The data collection technique used a purposive sampling technique, based on the established criteria, a sample of 12 Islamic banks was obtained. Data were analyzed using multiple regression analysis with SPSS version 25. The results of this study indicate that (1) the Board of Commissioners has a positive and significant effect on the Financial Performance of Islamic Banking, (2) the Board of Directors has a negative and insignificant effect on the Financial Performance of Islamic Banking, (3) The Sharia Supervisory Board has a negative and significant effect on the Financial Performance of Islamic Banking, (4) the Audit Committee has a negative and insignificant effect on the Financial Performance of Islamic Banking.


    • The Influence of the Board of Commissioners, Board of Directors, Audit Committee, and Sharia Supervisory Board on the Financial Performance of Islamic Banking (Empirical Study on Islamic Banking in Indonesia 2017-2021 Period)
      Original Research Article
      Country Indonesia
    • Pages 123-132
    • Aulia Anindita || Zulfikar
    • Abstract | pdf Pdf
    • This study aims to determine the effect of the board of commissioners, board of directors ,audit committee, and sharia supervisory board on the financial performance of Islamic banking in Indonesia from 2017 to 2021 in terms of ROA, CAR, and NPF. The sampling technique used in this study was purposive sampling. Data obtained from Islamic banking financial reports for the 2017-2021 period. The statistical test used in this study is multiple linear regression.


    • The Effect of Corporate Governance, Leverage and Free Cash Flow on Earnings Management (Empirical Study of Manufacturing Companies Listed on the Indonesia Stock Exchange for the 2018-2021 Period)
      Original Research Article
      Country Indonesia
    • Pages 133-142
    • Anggi Farida Dewi Nuriyanti || Rina Trisnawati
    • Abstract | pdf Pdf
    • This study aims to analyze the effect of independent commissioners, managerial ownership, institutional ownership, audit committees, leverage and free cash flow on earnings management in manufacturing companies listed on the Indonesia Stock Exchange. This study uses secondary data obtained from the financial reports of manufacturing companies. This research is a quantitative study with multiple linear regression analysis techniques using SPSS software. The population in this study are manufacturing companies listed on the Indonesia Stock Exchange (IDX) in 2018-2021. The sampling technique in this study used a purposive sampling method and obtained 60 manufacturing companies that met the criteria with 180 data that were used as samples in the study. The results of the study show that the board of commissioners is independent, leverage and free cash flow have an effect on earnings management. Meanwhile, managerial ownership, institutional ownership and audit committee have no effect on earnings management.


    • Effects of Community Currency Systems on Economic Growth Dynamics of Small-Scale Tradersin Kibuye Market, an Informal Urban Settlement
      Original Research Article
      Country Kenya
    • Pages 143-151
    • Nancy Njeri Muchai || Maria Onyango || Richard Odongo || Vitalis Mogwambo || Michael Oloko
    • Abstract | pdf Pdf
    • Most small-scale businesses have unstable and weak economic stabilities that negatively impact their livelihoods. The general study objective was to explore the effects of community currency on small-scale businesses in informal urban settlements in Kisumu City, Kenya. The research sought to determine the effect of Community networks on the growth of small-scale businesses in informal settlements, evaluate the effect of financial Services Innovations on the growth of small-scale businesses in informal settlements, and determine the effect of social innovations on the growth of the small-scale businesses in the informal settlements within Kisumu city. The study adopted the consumer choice theory, social capital theory and the SCALERS Model. Moreover, the participatory action research (PAR) design was also employed. A population of 5,000 traders in the Kibuye market were targeted, giving a sample size of 678 small-scale traders. Quantitative data were analyzed using descriptive statistics and inferential analysis, while qualitative data were analyzed thematically. The results showed that Community networks positively impactedthe growth of small-scale businesses with r = 0.784. Financial Services Innovations registered a positive effect at r = 0.806. At the same time, the social innovations exhibited a positive effect with r = 0.760. The entrepreneurial networks as a moderating variable had a small positive effect at r = 0.268 on the growth of the small-scale businesses in the informal settlements of Kisumu County. CC is a significant factor in enhancing financial innovation and could be a key catalyst to propel small-scale trading activities within the informal urban settlements in Kenya. The study outcomes will help strengthen the community’s social and financial growth, helping reorganize governance structures and participatory capacities of communities and local governments to boost their adoption of community currency systems.


    • Analysis of the Effect of Growth Opportunity, Profitability, Earning Per Share (EPS), and the Covid Pandemic on Firm Value with Capital Structure as a Moderating Variable
      Original Research Article
      Country Indonesia
    • Pages 152-162
    • Imtiyaz Dhiya Alima || Triyono
    • Abstract | pdf Pdf
    • Firm value and capital structure are known to greatly affect the smooth running of a company, the better the company value and capital structure, the better the company's path in achieving its goals, therefore the purpose of this study is to determine and analyze the influence of growth opportunity, profitability, earning Per Share (EPS) and the pandemic on firm value with capital structure as a moderating variable. The population of this research is the tourism, restaurant and hotel sub-sector companies listed on the Indonesia Stock Exchange (IDX) in 2017-2021 as many as 45 companies. Sampling using purposive sampling method, so that the population can be sampled as many as 24 companies. The data analysis technique used in this study is Moderated Regression Analysis (MRA). The results show that growth opportunity and profitability have a significant effect on firm value, while Earning Per Share (EPS) and the pandemic have no significant effect on firm value and only capital structure moderates the relationship between growth opportunity and firm value.


    • Effectiveness of the Marketing Strategies Used By the Medical Scheme Service Providers in Zambia. A Case of Medlink Services Limited
      Original Research Article
      Country Zambia
    • Pages 163-167
    • Banji Mayiya || Lubinda Haabazoka
    • Abstract | pdf Pdf
    • The essence of every business is to produce goods and services to not only serve the needs of the clients but also generate a profitable income. The main aim of this study was to review Medlinks marketing strategy so as to remodel Medlink's marketing strategy to improve client retention. The study design employed a mixed method approach, and an expert-based sampling from which the desired sample of 4 was produced, later subjected to questionnaire and an-deep interview. The study found the conceptual framework of the study to remodel Medlinks marketing strategy relevant, with a clear understanding of how the concepts related. Overall, the scorecards indicated that good customer service had a direct impact on customer retention.


    • Analysis of Determinants of Implementation of Sak Emkm in Preparation of Financial Reports on Msmes in Salatiga City
      Original Research Article
      Country Indonesia
    • Pages 168-176
    • Afifuddin Reza Arifani || Lintang Kurniawati
    • Abstract | pdf Pdf
    • This study aims to determine the influence of dependent variables, namely the implementation of SAK EMKM influenced by independent variables, business size, socialization of SAK EMKM, understanding accounting, and the level of readiness owners of UMKM. This research is a quantitative study that uses statistical data analysis, such as validity test, reliability test, normality test, multicholinearity test, heteroscedasticity test, determinant coefficient test, and F test. The total sample was 100 respondents by distributing questionnaires through google forms and questionnaire papers which were distributed directly to owners of UMKM. The data analysis technique used is a multiple linear regression analysis test with the help of SPSS version 25 for windows.The results obtained show that the implementation of SAK EMKM is positively influenced by the socialization of SAK EMKM and the level of readiness of owners of UMKM, but the variables of business size and understanding of accounting have a negative effect on the implementation of SAK EMKM.


    • Effect of Firm Size, Profitability, and Firm Growth on Firm Value
      Original Research Article
      Country Indonesia
    • Pages 177-184
    • Nur Rohkayati Juli Ningsih || Yuli Tri Cahyono
    • Abstract | pdf Pdf
    • This study aims to determine the effect of Firm Size, Profitability, and Firm Growth on Firm Value. This research is a type of quantitative research, the sampling technique uses a purposive sampling method for property and real estate companies listed on the IDX in 2019-2021. The samples that met the criteria were 14 companies with a total of 42 data during 3 years of research. This study used multiple linear regression analysis with SPSS software assistance version 25. The results of this study show that firm size and profitability had a significant effect on firm value, meanwhile firm growth has no significant effect.


    • The Effect of Corporate Social Responsibility, Capital Intensity, Transfer Pricing and Good Corporate Governance on Tax Avoidance
      Original Research Article
      Country Indonesia
    • Pages 185-193
    • Melliza Ayulianingsih Al-Riyadi || Eny Kusumawati
    • Abstract | pdf Pdf
    • Tax avoidance is an effort made by taxpayers to avoid taxes that are legal and safe without conflicting with applicable tax provisions, because taxpayers do this by exploiting weaknesses contained in laws and regulations to minimize the amount of tax payable. This study aims to analyze the effect of corporate social responsibility (CSR), capital intensity, transfer pricing, and institutional ownership on tax avoidance. The research sample is a manufacturing company listed on the Indonesia Stock Exchange for the 2019-2021 period. Sampling in this study using purposive sampling method. The research sample consisted of 174 data analysis units that met the criteria. The analytical method used in this study is multiple linear regression analysis. The results of this study provide empirical evidence that capital intensity and institutional ownership have an effect on tax avoidance. Meanwhile, corporate social responsibility and transfer pricing have no effect on tax avoidance.


    • Effect of Good Corporate Governance, Earnings Power, Corporate Social Responsibility, Capital Structure, and Sales Growth on Tax Avoidance
      Original Research Article
      Country Indonesia
    • Pages 194-203
    • Irindha Pangastuti || Eny Kusumawati
    • Abstract | pdf Pdf
    • Tax Avoidance is a way or behavior of the taxpayer to minimize the tax levy imposed on taxpayer. Tax Avoidance is not a criminal act because taxpayers reduce their tax burden without conflicting with applicable regulations. This study aims to analyze the effect of Good Corporate Governance, Earnings Power, Corporate Social Responsibility, Capital Structure, and Sales Growth on tax avoidance in manufacturing companies listed on the Indonesia Stock Exchange fot the 2019-2021. The sampling technique used in this study was purposive sampling. A total of 276 companies have met the criteria as a unit of observation. The analytical method used is multiple linear regression analysis. The research result provide empirical evidence that Earnings Power and Capital Structure affect Tax Avoidance. While, Good Corporate Governance, Corporate Social Responsibility, and Sales Growth have no effect on Tax Avoidance.


    • Analysis of Financial Distress and Financial Performance Before and After the Covid-19 Pandemic
      Original Research Article
      Country Indonesia
    • Pages 204-214
    • Alfya Dwi Pradhita || Erma Setiawati
    • Abstract | pdf Pdf
    • This study aims to analyze differences in financial distress measured using the Grover Score model and financial performance measured using Net Profit Margin (NPM), Return on Assets (ROA), and Return on Equity (ROE). This study uses data from industrial sector companies listed on the Indonesia Stock Exchange (IDX) for the 2019-2021 period. The sample used is purposive sampling method. The population in this study were 55 companies and 43 industrial sector companies that were included in the criteria, so the sample data for this study were 129 industrial sector companies. The tests used in this study were the Descriptive Statistical Test, the Normality Test using the Kolmogorov-Smirnov test, and the Difference Test using the Wilcoxon Signed Ranks Test. The results of this study indicate that there are differences in the financial distress, Net Profit Margin (NPM), Return on Assets (ROA), and Return on Equity (ROE) of industrial sector companies between before and after the Covid-19 pandemic.


    • The Influence Implementation of Good Corporate Governance and Corporate Social Responsibility on Company Performance
      Original Research Article
      Country Indonesia
    • Pages 215-223
    • Niken Dwi Wijayanti || Yuli Tri Cahyono
    • Abstract | pdf Pdf
    • This study aims to determine the influence of Corporate Social Responsibility and Good Corporate Governance as measured using the size of the board of commissioners, independent board of commissioners, and audit committee on company performance. This research is a quantitative type research, the sampling technique uses the purposive sampling method in manufacturing companies in the consumer goods industry sector which are listed on the IDX in 2019-2021. Samples that met the criteria were 23 companies with a total data of 69 for 3 years of research. This study used multiple linear regression analysis with SPSS version 26 application. The results showed that CSR, board size, independent commissioner board size and audit committee size have a significant effect on company performance.


    • Analysis of the Effect of Capital Structure on Company Profitability
      Original Research Article
      Country Indonesia
    • Pages 224-229
    • Cendana Kusumawardhani || Fauzan
    • Abstract | pdf Pdf
    • The purpose of this research is to analyze and find empirical evidence regarding the effect of capital structure on profitability. The population in this study are Fast Moving Consumer Goods companies listed on the Indonesia Stock Exchange in 2018-2020. By using purposive sampling as the sampling method, a total sample of 105 Fast Moving Consumer Goods companies registered on the IDX was obtained in 2018-2020. Data processing uses multiple linear regression analysis with the help of the SPSS program. Based on these tests, it was found that the Long-term Debt to Assets and Debt to Equity Ratio have an effect on profitability, while the Short-term Debt to Assets and Total Debt to Assets have no effect on profitability.


    • The Effect of Solvability, Liquidity, Profitability, and the Audit Committee on Earnings Quality
      Original Research Article
      Country Indonesia
    • Pages 230-238
    • Melisa Anita Sari || Eny Kusumawati
    • Abstract | pdf Pdf
    • in a company, one of the most important parts of financial reports that investors pay attention to is information about profits. Profit data is used to entice investors to buy company shares so that the company can raise money for its business operations.So, this study aims to examine the effect of solvability, liquidity, profit-bearings quality in manufacturing listed on the Indonesia Stock Exchange in 2018-2020. This research uses quantitative companies research methods with secondary data obtained from www.idx.co.id. The number of samples obtained by purposive sampling method is 87 companies as research with 223 observations. The data analysis technique used was multiple linear regression analysis with the SPSS 23 software program. The results showed that solvency, liquidity, profitability had an effect on financial distress, while the audit committee variables had noeffect.


    • Analysis of Fraudulent Financial Reporting With Fraud Hexagon Theory in Financial Sector Companies Listed on the Indonesia Stock Exchange (IDX) In 2017-2021
      Original Research Article
      Country Indonesia
    • Pages 239-249
    • Anis Nurma Prastika || Noer Sasongko
    • Abstract | pdf Pdf
    • The financial sector in Indonesia is the sector most vulnerable to fraudulent financial reporting. This study aims to find out how the influence of the fraud hexagon theory component on financial statement fraud in Financial Sector Companies in Indonesia. The population in this study is all companies in the financial sector listed on the Indonesia Stock Exchange (IDX). The samples in this study were determined using the purposive sampling method, which is the selection of samples according to certain criteria set based on the objectives of the study. The use of this technique aims to make it easier to get data that suits research needs. This research was conducted on financial sector companies listed on the Indonesia Stock Exchange (IDX) in 2017-2021 with a total population of 92 companies. The dependent variables in this study were measured by dummy variables, then the hypothesis test tool used logistic regression analysis. Logistic regression is a statistical method for modeling category-based response variables on one or more predictors of change, the results show that stimulus, capability, collusion affect fraudulent financial reporting. Meanwhile, opportunities, rationalization and ego have no influence on indications that management has committed fraudulent actions in financial statements.


    • Does Capital Structure and Ownership Structure Affect Financial Performance?
      Original Research Article
      Country Indonesia
    • Pages 250-261
    • Ifana Firda Auliya || Rita Wijayanti
    • Abstract | pdf Pdf
    • This study aims to examine the effect of capital structure and ownership structure on financial performance through the company's annual report. Based on agency theory, this research examines the effect of ownership structure (majority ownership, managerial ownership, institutional ownership, foreign ownership, and public ownership).The population in this study are non-financial companies listed on the Indonesia Stock Exchange (IDX) in 2020-2021. The sampling technique in this study used a purposive sampling method and obtained 375 companies. This research is a quantitative study using multiple linear regression analysis using SPSS software.The results of the research analysis show that capital structure has an effect on ROA and ROE, majority ownership has an effect on ROA and has no effect on ROE, managerial ownership has no effect on ROA and ROE, institutional ownership has no effect on ROA and ROE, foreign ownership has had an effect on ROA and ROE, and public ownership has no effect on ROA and ROE.


    • Effectiveness Level Analysis and Budget Efficiencyat the Regional Financial and Asset Management Agency (BPKAD) Surakarta City in 2019-2021
      Original Research Article
      Country Indonesia
    • Pages 262-272
    • Ivanna Zerlinda || Suyatmin Waksito
    • Abstract | pdf Pdf
    • Regional Government Financial Reports (LKPD) are media for local governments to account for their financial performance to the public. The Regional Government Financial Report (LKPD) is examined annually and receives an assessment in the form of an Opinion from the Financial Supervisory Agency (BPK), when the BPK provides Unqualified Opinion (WTP) on Regional Government Financial Reports. Regional financial management is carried out through a system that is integrated in the cycle of the Regional Revenue and Expenditure Budget (APBD). The efficiency and effectiveness of the Surakarta city government's financial performance can be calculated and analyzed using ratios and data obtained from the Surakarta city government's Budget Realization Report (LRA), regarding the calculation of the level of effectiveness and efficiency of the 2019-2021 budget realization report. the Surakarta City government for the 2019 and 2021 fiscal years have not yet reached the target but are included in the effective category because they are at the 90%-100 rating, while the efficient level of the Surakarta City government for the 2019-2020 fiscal year is considered capable of saving the spending budget quite well because there are no significant figures. exceed budget.


    • Good Corporate Governance and Company Size on Financial Performance
      Original Research Article
      Country Indonesia
    • Pages 273-281
    • Ana Khoiru Ummah || Mujiyati
    • Abstract | pdf Pdf
    • This study aims to examine the effect of Good Corporate Governance by the board of commissioners, board of directors, audit committee, independent commissioners, institutional ownership and company size on financial performance. The population of this study are companies registered on the Jakarta Islamic Index (JII) from 2019 to 2021. Sampling was carried out using the purposive sampling method, based on the specified criteria obtained a sample of 20 companies. The data analysis technique uses the classical assumption test and multiple regression analysis with SPSS 24. The results of this study indicate that the Board of Commissioners has no effect on Financial Performance, the Board of Directors has no effect on Financial Performance, the Audit Committee has no effect on Financial Performance, Independent Commissioners have a positive effect on Financial Performance, Institutional Ownership has no effect on Financial Performance, and Company Size has no effect on Financial Performance.


    • Zmijewski (X-Score) Model for Financial Distress Prediction: Implementing Good Corporate Governance In Indonesia
      Original Research Article
      Country Indonesia
    • Pages 282-289
    • Ucik Saputri || Shinta Permata Sari
    • Abstract | pdf Pdf
    • Financial distress is an indication that a company's finances are not healthy but are still some distance from bankruptcy. Companies can identify financial problems earlier as a foundation for internal assessment and communication. One of the causes of financial distress is the state of corporate governance. The purpose of this research is to determine the effect of good corporate governance, as proxied by managerial ownership, institutional ownership, an independent board of commissioners, audit committee, and managerial agency costs, on financial distress, as calculated using the Zmijewski model (X-Score), in consumer goods companies listed on the Indonesia Stock Exchange from 2019 to 2021. The sampling technique uses the purposive sampling method and22 consumer goods industry companies met the criteria with 66 data used as research samples. The analytical method used in this research is logistic regression analysis. The results show that the independent board of commissioners has a significant effect on financial distress using the Zmijewski approach. Meanwhile, managerial ownership, institutional ownership, audit committee, and managerial agency costs do not have a significant effect on financial distress with the Zmijewski approach.


    • The Effect of Profitability, Liquidity and Dividend Policy on Stock Returns on Food & Beverage Companies Listed on the IDX during Covid19
      Original Research Article
      Country Indonesia
    • Pages 290-298
    • Dela Mardyana Sari || Suyatmin Waskito Adi
    • Abstract | pdf Pdf
    • This study aims to examine the effect of profitability, liquidity and dividend policy on stock returns. The research is a quantitative study using multiple linear regression analysis with the help of SPSS version 25 software. The population in this study is food & beverage companies listed on the Indonesia Stock Exchange (IDX) for 2019-2021. The sampling technique in this research used a purposive sampling method, the samples used were 19 food & beverage companies and those that met the criteria with 54 data used as research. The results of the research analysis of dividend policy have an effect on stock returns, while profitability and liquidity had no effect on stock returns for food & beverage companies during COVID-19.


    • Phenomena Affecting Financial Distress through the Springate Method in Indonesia Stock Market
      Original Research Article
      Country Indonesia
    • Pages 299-306
    • Nadira Choirunnisa || Shinta Permata Sari
    • Abstract | pdf Pdf
    • Financial distress is a phenomenon in a company that experiences bankruptcy because of internal and external factors. If the company experiences financial difficulties, investors will reconsider investing in the company. According to the risk of an unstable company's financial condition. Investors can use financial distress as a guideline in choosing a good firm, depending on its operations and financial management. This study aims to predict financial distress through the Springate method. Factors influencing financial distress are operating capacity, sales growth, operating cash flow, leverage, and managerial agency costs. The research is a manufacturing company of goods and consumer industries sector companies listed on the Indonesia Stock Exchange 2019-2021 consisting of 47 companies. The sampling of this research uses purposive sampling and analysis methods by logistic regression analysis. The results of this study indicated that operating capacity, sales growth, operating cash flow, and leverage affect financial distress. Meanwhile, managerial agency cost factors have no effect on financial distress.


    • Potential Carbon Tax Imposition in Boosting Low-Carbon Green Economic Activity
      Original Research Article
      Country Indonesia
    • Pages 306-315
    • Halwa Qubailah Shobah Ulum || Mujiyati
    • Abstract | pdf Pdf
    • One effort to combat global warming is the implementation of carbon tax as form of compensation for carbon emissions emitted by polluters, with goal of reducing carbon emissions and changing mindset of emission producers to increase efficiency in producing emissions from their industrial and switching to green economy. The purpose of this research is to determine potential of carbon tax in increasing low-carbon green economy. Coal-fired power plants will be the first to be taxed under the Carbon Tax. The Paiton Coal-fired Power Plant Company Units 1, 2, and 9 in 2019-2021 are sample in this study. This study's data analysis is a descriptive qualitative, which involves cross-referencing data on Carbon Tax rate with data on disclosure of carbon emissions from coal-fired power plants, which is then analyzed with supporting references from laws, presidential regulations, and scientific journals. The Carbon Tax will force individuals to consider consequences of polluting actions. Carbon tax policy allows for economic distortions, the implementation must be done at the right time and with a fair mechanism. The proceeds from carbon tax will be used to fund community's welfare sector as well as development of renewable energy. The Carbon Tax Mechanism should based on fairness principles.


    • Effect of Growth Opportunity, Cash Flow and Capital Expenditure to Cash Holding
      Original Research Article
      Country Indonesia
    • Pages 316-326
    • Dikcy Alfian Nuryatno || Suyatmin Waskito Adi
    • Abstract | pdf Pdf
    • This study discusses the influence of growth opportunity, cash flow and capital expenditure on cash holdings in consumer good companies listed on the IDX from 2018 to 2021. The sample in this study was 35 companies. In determining the sample used by purposive sampling method, namely selection with certain criteria. This study uses multiple regression analysis tests that are strengthened by the F test and R test. This study also uses the classic assumption test to determine whether the data used passes or does not pass the classical assumption test, in the classic assumption test four tests are used, namely, normality test, heteroscedasticity test , multicollinearity test and autocorrelation test. Data processing in this study was assisted by SPSS version 25 for Windows. This research includes causal associative research, namely research that asks the relationship of two or more variables. A causal relationship is a cause-and-effect relationship. From this research, a theory can be built that functions to explain a symptom and the influence between variables


    • The Effect of Board Diversity on Financial Performance
      Original Research Article
      Country Indonesia
    • Pages 327-334
    • Anisa Nur Rafiah || Lintang Kurniawati
    • Abstract | pdf Pdf
    • The purpose of this study is to find out how the performance of companies in manufacturing companies in the goods and consumer industry sector is influenced by board diversity. Board diversity consists of Gender(X1), Age (X2) Education (X3), Naturalization (X4). Purposive sampling is the methodology used (the method uses certain criteria). A total of 201 manufacturing business actors in the goods and consumption sectors listed on the Indonesia Stock Exchange in 2017–2021 are the research samples. The multiple regression model from IBM SPSS 26.0 is used in this study. The results of this study indicate that education and naturalization have a significant effect, and gender and age have no significant effect.


    • Detection of Financial Statement Fraud Using Hexagon Theory Analysis and Covid-19
      Original Research Article
      Country Indonesia
    • Pages 335-344
    • Veni Iswantari || Noer Sasongko
    • Abstract | pdf Pdf
    • This study aims to determine the influence of the fraud hexagon model, namely stimulus (pressure) proxied with financial targets, opportunities proxied with the nature of industry, rationalization proxied by change in auditors, capability proxied by change of directors, arrogance which is proxied with frequent numbers of CEO's pictures, collusions proxied with government projects, and covid-19 against financial statement fraud. The sample of this study is a food and beverage sub-sector manufacturing company listed on the Indonesia Stock Exchange (IDX) in 2016-2021. This study uses secondary data, namely financial statements and annual reports. Based on the purposive sampling method, the number of companies sampled in this study was 16 companies out of a total of 20registered companies and multiple linear regression analysis using the SPSS 25 program. The results of this study found that financial targets, nature of industry, frequent numbers of CEO's picture, and government projects have a significant effect on financial statement fraud. Meanwhile, changes in auditors, changes of directors, and covid-19 did not have a significant effect on financial statement fraud in food and beverage sub-sector manufacturing companies listed on the Indonesia Stock Exchange (IDX) in 2016-2021.


    • Determinant of Firm Value: Empirical Study of Listed Energy Companies on the Indonesia Stock Exchange
      Original Research Article
      Country Indonesia
    • Pages 345-354
    • Frima Mar’atush Sholiha || Triyono
    • Abstract | pdf Pdf
    • This study aims to determine the effect of profitability, liquidity, growth, and size on firm value. The population of this study is energy companies listed on the Indonesia Stock Exchange in the 2017-2021 period. The sample is determined by purposive sampling method which results in fifteen companies involved in this research. Research data was collected from documentation from the IDX website and the company's annual report. Types of quantitative research. The analitycal technique used is multiple linear regression analysis with SPSS 24 software. The results show that: 1) profitability ratio measured by Return on Equity has an effect on firm value; 2) liquidity measured by Current Ratio has no effect on firm value; 3) company growth measured by total assets growth has no effect on firm value; 4) company size measured by natural logarithm of total assets has no effect on firm value.


    • Intellectual Capital, Corporate Social Responsibility & Marketing Mix: A Structural Equation Model on Financial Performance among Commercial Banks in Caraga Region
      Original Research Article
      Country Philippines
    • Pages 355-376
    • Dr. Gaudencio G. Abellanosa || Ms. Danalyn J. Dones
    • Abstract | pdf Pdf
    • The goal of this research was to find the best fit model for the commercial bank’s financial performance, using structural equation modeling (SEM) as the primary statistical tool to investigate the interrelationships between the constructs of intellectual capital, corporate social responsibility, marketing mix and financial performance. The 400 employees were selected using a stratified-random selection approach and a descriptive-correlational study design. For the levels, interrelationships, influence and exploring the best fit model of the constructs, statistical methods such as mean, Pearson Product Moment Correlation, Multiple Regression and Structural Equation Modeling were utilized. A significant relationship between the three constructs with financial performance was established. Intellectual Capital is always observed while corporate social responsibility, marketing mix and financial performance are oftentimes observed by the respondents. When regressed, it was found that intellectual capital influences financial performance. Among the three (3) independent variables only corporate social responsibility best predict financial performance. The best fit model showed that corporate social responsibility as indicated by philanthropy and customer service delivery best predict financial performance as indicated by fundraising efficiency, financial transparency, and programs financial efficiency.


    • The Impact of Industry 4.0 to Labor in Indonesian’s Law Perception
      Original Research Article
      Country Indonesia
    • Pages 377-382
    • Mochammad Zhaidan Budiman || Gress Ayu Alamdari || Dewi Rahmawati G
    • Abstract | pdf Pdf
    • The development of globalization occurs almost all over the world. Even though its influence reaches the economic sector and controls the occurrence of an industrial revolution called Industry 4.0, its application in economies worldwide can be achieved through increasingly sophisticated technological developments. The use of technology aims to provide convenience in aspects of human life, especially for various jobs such as used as a substitute for replacing human resources with machine resources on an industrial scale. However, this results in the risk of high levels of unemployment. So it needs to be prevented by the government through laws. However, the rapid technological changes in industry 4.0 have yet to be followed by regulations that can adapt quickly. Therefore, further evaluation and studies regarding this law are needed. Because the law is fundamental to protect workers at risk of termination of employment due to the difficulty of competing in the world of work in the Industry 4.0 era through regulations, the rights and obligations of workers, as well as employers and legal protection for both of them will be more transparent. Thus, it is necessary to carry out further studies related to the current situation with the relevance of existing regulations.


    • The Influence of Poverty, Village Fund and Village Owned-Income on Village Expenditure Allocation for Disaster Management and Emergencies Affairs (an Empirical Study of Villages in Sragen District in 2020)
      Original Research Article
      Country Indonesia
    • Pages 345-354
    • Rizal Afid Udin || Andy Dwi Bayu Bawono
    • Abstract | pdf Pdf
    • This study aims to determine the influence of Poverty, Village Fund, and Village Owned-Income on Village Expenditure Allocation for Disaster Management and Emergencies Affairs. The populations of this study is all villages in Sragen Regency and this study utilize purposive sampling method with certain criterias. The hypothesis was tested by multiple linear regression analysis with the coefficient of determination test, F test, and t test. The indicate that Poverty and Village Owned-Income have no effect on Village Expenditure for Disaster Management and Emergencies Affairs. However Village Found have an effect on Village Expenditure for Disaster Management and Emergencies Affairs. The study suggested that Allocation for Disaster Management and Emergencies Affairs must be consider the poverty and Village Owned-Income to make accurate and in the next study suggested the village government also consider the poverty and the among Village Owned-Income as consideration on Village Expenditure for Disaster Management and Emergencies Affairs.


    • The Effect of Audit Tenure, Auditor Specialization, and KAP Reputation on Audit Quality (Empirical Study of Manufacturing Companies Listed on The Idx In 2017–2019)
      Original Research Article
      Country Indonesia
    • Pages 355-362
    • Albara Yuha Muhammad || Wahyono
    • Abstract | pdf Pdf
    • This study aims to determine the effect of audit tenure, auditor specialization, and KAP reputation on audit quality. This research is a qualitative research. The population used in this study were all manufacturing companies listed on the Indonesia Stock Exchange (IDX). The sample in this study are companies that go public and are still listed as issuers on the IDX. The sampling technique used purposive sampling technique. The data collection technique was carried out using the documentation method obtained through the website www.idx.co.id. The data analysis technique used is logistic regression. The results showed that the audit tenure variable and auditor specialization had no effect on audit quality, while the KAP reputation variable had an effect on audit quality.


    • Effect of Performance Management on Employee Performance at Teachers’ Service Commission, Kenya
      Original Research Article
      Country Kenya
    • Pages 363-380
    • Amon Abuor Onyango || Dr. Jairo Kirwa Mise || Dr. Christine Anyango Bando
    • Abstract | pdf Pdf
    • Teachers Service Commission (TSC), Kenya has been implementing performance management besides transactional rewards since 2005 to enhance quality and cost effective services. Performance management ensures performance quality improvement while transactional rewards improve efforts and productivity of employees. However, efficiency and quality of services is low compared to other state corporations as evidenced by approximately 5000 teachers who visit its head office per month to solve their work-related problems. Literatures on employee performance enhancement have focused on performance management in relation to organizational performance and employee productivity without disaggregating the same to give specific policy recommendations regarding employee performance.This study thus sought to determine the effect of performance management on employee performance at TSC, Kenya. It was anchored on Goal setting theory and adopted correlational research design. The study population was 1200 employees out of which a sample size of 291 was taken. Individual respondents were drawn through Cluster sampling technique. Primary data were collected using structured questionnaires. Pearson correlation was used to obtain association between the study variables while multiple regressions were used to establish the magnitude and direction of effect of performance management. The study revealed that performance management (B=0.444,p=0.000), significantly and positively predicted employee performance. This implies that performance management significantly affects employee performance. Study concludes that performance management has significant positive relationships with employee performance. Thus, TSC Kenya should affect more of it to enhance employee performance. This finding may add value to existing knowledge in employee performance enhancement strategies and human resource management policy formulations by the TSC.


    • The Influence of High-commitment Human Resource Management on Unethical Pro-Organizational Behavior: The Moderating Role of the Perceived Organizational Support in Nigeria
      Original Research Article
      Country China
    • Pages 381-389
    • Zhi-hong Song || Mogbo Chiemezie Christian
    • Abstract | pdf Pdf
    • This study seeks to investigate the influence of high-commitment HRM (HCHRM)on unethical pro-organizational behaviours (UPB), with the moderating role of perceived organizational support (POS)in Nigeria. The study finds shows that If workers think they will be compensated for unethical behaviour, they would more certainly engage in it. Employees who have historically been rewarded for immoral behaviour are most likely to engage in it again in the future. Although UPB can help organizations in the near run, it is not a long-term development strategy for organizations. Because it violates ethics, it will ultimately hurt the organization's goals and reduce the business's ability to compete in the long run. Perceived organizational support and high commitment human resource management are examples of productive constructs that may have an impact on unethical behaviour. As a result, the company needs to take action to stop employees from adopting UPB.


    • Effect of EMKM Socialization, Education Level, Accounting Understanding Level and Readiness Level of MSME Actors for SAK EMKM in MSMEs at Hartono Trade Center Solo BARU
      Original Research Article
      Country Indonesia
    • Pages 390-399
    • Febrianto Ilham Akbar Hidayatullah || Rina Trisnawati
    • Abstract | pdf Pdf
    • This study aims to analyze the effect of EMKM socialization, level of education, level of understanding, level of readiness of MSME actors on the dependent variable, namely the application of SAK EMKM. This study uses primary data in the form of data sourced from questionnaire distribution. The population in this study are all MSMEs in the Hartono Trade Center Solo Baru. In the amount of 50 units. The sample used in this study used a saturated sample method of 50 units. This study uses a quantitative approach with data quality tests, descriptive statistics, classical assumption tests, and multiple linear regression analysis tests using SPSS software. The results of this study indicate that the variable Level of Socialization and SAK EMKM Readiness has a significant effect on the implementation of SAK EMKM.


    • The Effects of Dividend Policy, Company Size,Business Risk, and Company Growthon Debt Policy with Profitability as a Moderating Variable
      Original Research Article
      Country Indonesia
    • Pages 400-411
    • Tarisa Tri Utami || Rina Trisnawati
    • Abstract | pdf Pdf
    • This study intends to determine the effect of dividend policy, company size, business risk, and company growth on debt policy with profitability as a moderating variable. This study makes use secondary data in the form of information taken from annual reports or financial statements of companies. This study employs a quantitative approach method with multiple linear regression analysis approaches utilizing SPSS software. The population of this study consists of business in the consumer goods sub-sector that are listed on the Indonesia Stock Exchange (IDX) for the 2018-2021 period. Purposive sampling was used in the sampling procedure, which led to thecollection 136 datafrom 34 companies. The results of this study are company size and business risk significantly affect debt policy, dividend policy and company growth significantly do not affect debt policy. Meanwhile, profitability is not able to significantly influence dividend policy, company size, business risk, and company growth on debt policy.


    • Effect of Audit Fee, Audit Tenure and Audit Rotation on Audit Quality with the Audit Committee as Moderation
      Original Research Article
      Country Indonesia
    • Pages 412-421
    • Nur Mala Aprilia || Eny Kusumawati
    • Abstract | pdf Pdf
    • Quality audit is a systematic and independent check to determine activities, quality and results conform with planned arrangements and whether those arrangements are implemented effectively and in accordance with the objectives. This study aims to analyze the effect of audit fees, audit tenure, and audit rotation on audit quality with audit committees as moderation in manufacturing companies listed on the Indonesia Stock Exchange for the 2019-2021 period. The sampling technique used in this study was purposive sampling. The sample of this study consisted of 303 companies that met the criteria as a unit of analysis. The analytical method used is logistic regression analysis. The results of the study provide empirical evidence that audit fees and audit committee moderation with audit fees have an effect on audit quality. Meanwhile audit tenure, audit rotation, and audit committee moderation with audit tenure and audit rotation have no effect on audit quality.


    • The Effect of Current Ratio (CR), Debt to Equity Ratio (DER), Return On Assets (ROA), Price to Book Value (PBV), and Firm Size on Stock Returns
      Original Research Article
      Country Indonesia
    • Pages 422-431
    • Tami Putri Rahayu || Suyatmin Waskito Adi
    • Abstract | pdf Pdf
    • This study aimed to examine the effect of current ratio, debt to equity ratio, return on assets, price to book value, and firm size on stock returns. The research is a quantitative study using multiple linear regression analysis with the help of SPSS version 24 software. The population in study this is manufacturing companies listed on the Indonesia Stock Exchange (IDX) for 2019-2021. The sampling technique in this research used a purposive sampling method, the samples used is 85 manufacturing companies and that met the criteria with 232 data used as research. The results of the research analysis return on assets, price to book value, and firm size have an effect on stock returns , while current ratio and debt to equity ratio had no effect on stock returns for manufacturing companies.


    • New Paradigm of Maritime Domain Awareness (MDA) As an Effort ToCombat Sea Piracy
      Original Research Article
      Country Indonesia
    • Pages 432-435
    • Vania Amelia Annava || Bayu Asih Yulianto || Panji Suwarno || Pujo Widodo || Herlina Juni Risma Saragih
    • Abstract | pdf Pdf
    • The writing of this scientific article is the result of an elaboration of studies; The Sociological Review of Sea Piracy Lecture and the 2020 National Maritime Day Commemoration Webinar in which the author participated. This scientific article uses a qualitative-descriptive method. To maintain focus in this scientific work, this paper is based on the Hierarchy of Needs Theory put forward by Maslow and the New Maritime Domain Awareness (MDA) Paradigm Concept put forward by Octavian (2020). The author wants to describe that the New Paradigm of Maritime Domain Awareness (MDA) can be proclaimed as an effort to minimize crimes committed. The key question to be answered in this article is how the New Paradigm of Maritime Domain Awareness (MDA) can eradicate sea piracy crimes.


    • Determinants of Customer Financing Decisions Baitul Tamwil Muhammadiyah (BTM) Amman Magelang
      Original Research Article
      Country Indonesia
    • Pages 436-448
    • Akmal Hamedan Bashoni || Arni Suwarti || Firman Pribadi
    • Abstract | pdf Pdf
    • In this study aims to examine the effect of service quality, customer knowledge, promotions, religious ob-ligations, and pricing on customer financing decisions (a case study on Baitul Tamwil Muhammadiyah (BTM) Amman Magelang.The data collection technique uses the survey method by distributing questionnaires to financing customers at BTM Amman Magelang. In this study, a sample of 115 respondents was selected using a simple random sampling tech-nique. The model used to analyze data or test hypotheses is using the Smart PLS 3.0 program application. Based on the results of the research that has been done, it is obtained that partially consumer knowledge, religious obligations, and pricing have a positive and significant effect on customer financing decisions. Meanwhile, the service quality and pro-motion variables do not partially affect customer financing decisions.


    • Designing an Entrepreneurial Marketing Model with the Approach of Developing the Country's Rural Products Market Share
      Original Research Article
      Country USA
    • Pages 449-461
    • Amir Azadarmaki || Arefeh Davoodi
    • Abstract | pdf Pdf
    • The sale of products is known as one of the concerns of producers and suppliers of rural products. Considering the share of products produced in rural businesses in the market and the concerns of selling these products, it should be stated that these businesses need innovative and entrepreneurial methods for marketing their products. According to some experts, marketing is one of the necessities of the rural production system, whose importance is very evident in the process of rural production, and marketing is a very important category in the success of these businesses. The aim of the current research is to design an entrepreneurial model of marketing with the approach of developing the market share of the country's rural products. This is an applied research in terms of purpose and exploratory in terms of data collection method. The semi-structured interview, focus group and grouping of experts were used in the qualitative part, and structural equations and SmartPLS software were used in the quantitative part. Therefore, the components of rural businesses were first identified and proposed as a model and tested in a quantitative stage. The research results show that the proposed model has 5 dimensions such as entrepreneurship, internal drivers, external marketing drivers, market environmental conditions and contextual development. In order to present the entrepreneurial model of marketing with the approach of market share development, it is necessary for every business to carry out updated and optimal strategic planning at all levels, after knowing its current situation, based on the dimensions, components and indicators of the current model; it could be helpful to strengthen optimum communication with stakeholders, especially the industry, considering the role of rural settlements by developing a support structure.


    • The Effect of Liquidity, Profitability, Asset Growth and Company Size on Capital Structure (Empirical Study of Companies Registered on The Jakarta Islamic Index (JII) for 2018 to 2021)
      Original Research Article
      Country Indonesia
    • Pages 462-470
    • Jihan Fadhila Dewantari || Mujiyati
    • Abstract | pdf Pdf
    • This study aims to examine the effect of liquidity, profitability, asset growth, and company size on capital structure. The population in this study are companies listed on the Jakarta Islamic Index (JII) for the 2018 to 2021 period. The sampling technique in this study used a purposive sampling method and obtained 15 companies. This research is a quantitative study with multiple linear regression analysis using SPSS software. The results of this study indicate that liquidity and asset growth have an effect on capital structure, while profitability and firm size have no effect on capital structure.


    • Implementing Accrual-Based Accounting Systems to Improve Transparency and Accountability (Phenomenological Study In Surakarta City Government)
      Original Research Article
      Country Indonesia
    • Pages 471-476
    • Eersta Sekar Hardianto || Banu Witono
    • Abstract | pdf Pdf
    • The goal of this study is to identify the benefits and drawbacks of introducing an accrual-based accounting system in Surakarta City Government in order to improve openness and accountability. A phenomenological research approach is used in this study. Both observation and interviewing are used to acquire data. Techniques for qualitative data analysis include data reduction, data display, and drawing inferences or performing verification. The study is being carried out by the Government of Surakarta Regency organization of the Surakarta City Government.The result shows that an accrual-based system is a system with records based on transactions that appear, not based on cash or cash that has been received or held. Users of financial statements or the public explain that the financial reports produced as a result of the adoption of the accrual-based accounting system are optimal. Utilizing a system of accrual-based accountingin Surakarta City is not 100% optimal. It is superior than a cash-based system to create an accrual-based accounting system. It is clear that by putting the accrual accounting system in place,the Surakarta City Government has become more real-time and the accrual-based implementation is a solution to increase and accountability. Users of financial statements really need transparency in financial reports. Utilizing a system of accrual-based accountingis a solution to increase transparency and accountability in producing financial reports.


    • The Effect of Fiscal Decentralization, Accessibility of Financial Reports, Regional Financial Management, and Local Government Performance on Regional Financial Report Accountability with Internal Control System as A Moderating Variable
      Original Research Article
      Country Indonesia
    • Pages 477-487
    • MUHAMMAD RAFI ZAEN || FATCHAN ACHYANI
    • Abstract | pdf Pdf
    • Accountability of regional financial reports is very important for local governments to be able to account for their activities in terms of managing their respective resources. Therefore, accountability is something that must be achieved for local governments in order to maintain their performance. There are several factors that can affect the accountability of a region's financial reports. This study aims to find out the effects of fiscal decentralization, accessibility of financial reports, regional financial management and local government performance on the accountability of regional financial reports with internal control system as a moderating variable that has the potential to strengthen or weaken the influence of the independent variables. This research is a quantitative type. The population of the study consists of all regions on the island of Java with samples taken by purposive sampling with the judgment sampling method. The analytical method uses logistic regression analysis because the dependent variable is a dummy variable and processed through SPSS 21, without using the classical assumption test thusgoing directly to hypothesis testing. The hypothesis test consists of model feasibility test, R-Square test, simultaneous test and partial test. The results showed that each non-moderating independent variable had no influence on the accountability of regional financial reports, while the moderating variable of the internal control system did not moderate the effect of the independent variables on the accountability variable of regional financial statements.


    • Adopt Mobile Banking With Theory of Trying and General Self Confidence
      Original Research Article
      Country Indonesia
    • Pages 488-498
    • Aini Lathyfah || Dewita Puspawati
    • Abstract | pdf Pdf
    • This study discusses someone's intention to adopt new technology in developing countries, specifically mobile banking, based on general self-confidence and theory of trying as indicators. A person's self-confidence influences a person's courage to try mobile banking. There are three possibilities in the theory of trying which allow someone to generate an act towards the adoption of mobile banking and an intention to adopt it, to wit trying then succeeding, trying then learning and trying then failing. This study used primary data collected from 141 respondents who are banking customers. The research sample was taken using the convenience sampling method and processed using SEM-PLS 4.0. The methods used are the outer model test and the inner model test. The results of this study indicate that a person's intention to adopt mobile banking is influenced by their attitudes towards the adoption of mobile banking itself. Attitudes towards mobile banking adoption are also influenced by two possible theories of trying, i.e. trying then succeeding, and trying then learning, and are influenced by general self-confidence, while the possibility of a theory of trying then failing does not affect people’s attitudes and intentions towards mobile banking adoption.


    • The Influence of Training and Leadership on Motivation Implications on the Performance Employees of DJP Sumsel and Babel
      Original Research Article
      Country Indonesia
    • Pages 499-506
    • Edizal AE || Hendra Saputra
    • Abstract | pdf Pdf
    • This study aims to find out and prove the effect of training and leadership on motivation and the implications for employee performance at the Regional Office of DJP South Sumatra and Babel, both directly and indirectly. The total population for this study was all employees of the South Sumatra and Babel DJP Regional Offices, totaling 136 people. In this study, the researcher used simple random sampling. In this study, the number of samples used was 58 people as the research sample. The data analysis used in this study is to use the Structural Equation Model (SEM) analysis method which is operated through the Partial Least Square (PLS) program. The results of this study indicate that Training has an effect on Motivation, Leadership has an effect on Motivation, Training has an effect on Performance, Leadership has an effect on Employee Performance, Motivation has an effect on Employee Performance, Training on Performance has an indirect effect on Motivation as an Intervening Variable, Leadership on Performance has indirect influence with Motivation as an Intervening Variable


    • Analysis of Determinants Affecting the Effective Tax Rate (ETR)
      Original Research Article
      Country Indonesia
    • Pages 507-518
    • Fortunella Bunga Febriana || Lintang Kurniawati
    • Abstract | pdf Pdf
    • This study aims to examine the analysis of the determinants that affect the effective tax rate (ETR) of mining companies listed on the Indonesia Stock Exchange in 2018-2021. The independent variables used in this study include inventory intensity, firm size, sales growth, liquidity and solvability. This study uses a quantitative research approach using secondary data obtained from the Indonesia Stock Exchange (IDX) and the company’s official website. The sampling technique used purposive sampling method. From this method obtained 113 samples from 35 companies that meet the criteria. The analytical method used is multiple linear regression analysis using SPSS 21 software. Classic assumption tests used in this study include data normality tests, multicollinearity tests, heteroscedasticity tests, and autocorrelation tests. The results show that inventory intensity, liquidity, and solvability have no effect on the effective tax rate (ETR), while firm size and sales growth have an effect on the effective tax rate (ETR).


    • Effect of Profitability, Company Activity, Size Company, Board of Commissioners, and Audit Committee on Disclosure of Sustainability Reports
      Original Research Article
      Country Indonesia
    • Pages 519-530
    • Tsania Istiqomah Tyasaroja || Erma Setiawati
    • Abstract | pdf Pdf
    • This study aims to examine the effect of profitability, company activity, company size, board of commissioners, and audit committee on the disclosure of the Sustainability Report. The population is all manufacturing sector companies listed on the Indonesia Stock Exchange (IDX) from 2018-2021. The sample was selected using a purposive sampling technique, so that 18 samples of manufacturing sector companies were obtained so that the amount of data used was 72 data. The data collection technique used is the documentation method. The types of data analysis techniques used to test the hypothesis in this study are descriptive statistical analysis and multiple regression analysis. The results of this study indicate that the activities of the company and the board of commissioners have a positive and significant impact on the sustainability report.


    • The Effect of Risk Preference on Students' Interest in Investing in Sharia Products in the Capital Market: Application of Theory of Planned Behavior
      Original Research Article
      Country Indonesia
    • Pages 531-538
    • Aninda Sulistyaningrum || Fatchan Achyani
    • Abstract | pdf Pdf
    • This study aims to determine the effect of attitudes, subjective norms, and behavioral control on interest in investing in sharia products in the capital market. The author also adds one other variable that might influence interest in investing in sharia products in the capital market. The population used in this study were students of the Accounting Study Program, Faculty of Economics and Business, Muhammadiyah University, Surakarta, Class of 2018-2019. In collecting data using a questionnaire with a sampling technique using purposive sampling method. The number of samples collected was 122 students. The regression model used in this study is a multiple linear regression model with the help of SPSS 25. The results of this study indicate that attitudes, subjective norms, and behavioral control has a significant positive effect on students' interest in investing in sharia products in the capital market. And interest has a significant positive effect on investing behavior. Meanwhile, risk preference has no significant effect on students' interest in investing in sharia products in the capital market.


    • The Influence of Information Characteristics of Management Accounting Systems on Managerial Performance at CV Rizky Abadi Pekalongan
      Original Research Article
      Country Indonesia
    • Pages 539-550
    • Ika Rasiana Atiqasari || Nursiam
    • Abstract | pdf Pdf
    • Characteristics of Management Accounting System Information (SAM) can improve a manager's Performance. Managers with information with these characteristics can do better planning and achieve the targets set. This study aims to test the effect of management accounting system information consisting of broad scope, timeliness, aggregation, and integration of managerial Performance in CV Rizky Abadi Pekalongan. The type of research uses quantitative research methods. The population in this study was all employees at CV Rizky Abadi Pekalongan, totalling 105 people. Sampling techniques using purposive sampling techniques so that 77 employees' samples are obtained. Data collection techniques using a questionnaire. Based on the multiple regression analysis methods, the test results showed that: Broad scope, timeliness, and integration variables affect the managerial Performance of CV Rizky Abadi Pekalongan. In comparison, the aggregation variable does not affect the managerial Performance of CV Rizky Abadi Pekalongan.


    • The Effect of Tax Knowledge, Tax Socialization, Taxpayer Awareness, Tax Sanctions, And Tax Services on Taxpayer Compliance in Paying Motor Vehicle Taxes
      Original Research Article
      Country Indonesia
    • Pages 551-560
    • Ersa Mellacantika || Andy Dwi Bayu Bawono
    • Abstract | pdf Pdf
    • This research is motivated by the lack of public awareness in paying their obligations as taxpayers. Therefore, efforts are needed to improve taxpayer compliance. This study aims to determine and analyze the effect of tax knowledge, tax socialization, taxpayer awareness, tax sanctions, and tax services on taxpayer compliance in paying motor vehicle taxes in Ngawi Regency. The population of this research is individual taxpayers. This study uses a quantitative method with a sample of 175 taxpayers. The type of data used is primary data obtained from distributing questionnaires. Methods of data analysis using multiple regression analysis. The results of this study indicate that the variables of knowledge of taxation and tax services have no effect on taxpayer compliance. But taxpayer awareness and tax sanctions have an influence on taxpayer compliance.


    • Relationship between Demand Forecasting and Operational Performance of Stores Function in Commercial State Corporations in Kenya
      Original Research Article
      Country Kenya
    • Pages 561-569
    • Emily Wamoto || Dr. Josphat Kwasira || Dr. Jackson Ndolo
    • Abstract | pdf Pdf
    • Inventory management practices play a major role in the operation of many organizations. These practices help to improve firm‟s production scheduling, delivery lead times and ultimately increase its operational performance. With the reported 46.4% of state corporations making losses, achieving Vision 2030 would be impossible without a critical look into how some of the practices including material categorization. This study intended to fill this knowledge gap by examining the influence of demand forecasting practices on operational performance of stores function in commercial state corporations in Kenya. The study was anchored on the Pareto (ABC) Model. The target population for the study was 906 Senior Management, Procurement Managers and Inventory Management Officers in the 54 Commercial State Corporations in Kenya. The researcher used the sampling formula recommended by Nassiuma to arrive at 99 sample size. Data collection was done through a structured open and closed ended questionnaire. Before embarking on data collection, the instruments were piloted to ensure they are valid and reliable. The study established significant influence of maintained inventory level as demand forecasting practice on operation performance of stores functions (β=-0.223, p=0.018<0.05). The study further established significant influence of information flow as demand forecasting practice on operation performance of stores functions (β=0.372, p=0.000<0.05). The study recommends that the policy makers in the commercial state corporations in Kenya need to formulate policies that will entrench the adoption of the best demand forecasting strategy as an inventory management practices. As a matter of policy, all the commercial state corporations in Kenya should adopt inventory management practices supported by the Public Procurement and Disposal Act 2015.


    • Analysis of the Influence of Firm Size, Leverage, Liquidity, Sales Growth, and Covid-19 on Company Performance
      Original Research Article
      Country Indonesia
    • Pages 570-579
    • Citra Nadias Putri || Rina Trisnawati
    • Abstract | pdf Pdf
    • This study aims to analyze the effect of firm size, leverage, liquidity, sales growth, and Covid-19 on company performance. This research is a quantitative study using multiple linear regression analysis with the help of SPSS software. The population in this study are manufacturing companies in the goods and consumption sectors listed on the Indonesia Stock Exchange (IDX) for 2018-2021. The sampling technique in this study used a purposive sampling method, the samples used were 46 manufacturing companies in the goods and consumption sector that met the criteria with 132 data used as research samples. The results of the research analysis show that firm size and leverage have an effect on company performance, while liquidity, sales growth, and Covid-19 have no effect on company performance.