Indonesia Stock Exchange Research Articles

Analysis of the Effect of Corporate Social Responsibility on Company Management Performance

General Background: Corporate Social Responsibility (CSR) significantly influences company performance in today’s business environment. Specific Background: Inconsistent findings exist regarding CSR's impact on management performance, particularly in Indonesia’s state-owned enterprises (BUMN). Knowledge Gap: This study addresses this gap by examining the effects of environmentally and socially oriented CSR on the management performance of BUMN companies listed on the Indonesia Stock Exchange (IDX) from 2019 to 2022. Aims: The study aims to empirically assess how CSR influences management performance using quantitative data from annual reports. Results: The findings reveal that both environmentally and socially oriented CSR positively impact management performance, with implications for financial outcomes. Novelty: This research offers new insights into the relationship between CSR initiatives and firm performance. Implications: The results provide valuable information for investors and corporate managers, highlighting the necessity of effective CSR strategies to enhance operational performance and build investor confidence. Highlights: Positive Impact: Both environmentally and socially oriented CSR significantly enhance management performance in BUMN companies. Investment Insights: Effective CSR strategies are essential for building investor confidence and improving financial outcomes. Research Contribution: This study fills the knowledge gap by empirically linking CSR initiatives to firm performance in Indonesia. Keywords: Corporate Social Responsibility, Management Performance, State-Owned Enterprises, Indonesia Stock Exchange, Financial Outcomes

Peran Moderasi Komisaris Independen Terhadap Firm Attributes dan Penghindaran Pajak: Studi Empiris Perbankan di Indonesia

This study aims to analyze how leverage and capital intensity ratios affect tax avoidance practices, with independent commissioners acting as a moderating factor. This research applies a quantitative approach to secondary data with documentation techniques and literature review. The population in the study consisted of banking sub-industry companies available on the Indonesia Stock Exchange since 2020-2022. The sample calculation applies purposive sampling technique with a total sample of 84 companies. The analysis method applied in the study is through panel data regression analysis techniques from moderated regression analysis analyzed on E-Views 12 student lite software. The results obtained from this study have shown that leverage and capital intensity ratio have a positive and significant effect on tax avoidance. Furthermore, independent commissioners weaken the influence of leverage on tax avoidance, while not being able to moderate the capital intensity ratio for tax avoidance of industrial companies in the banking sub-sector on the Indonesia Stock Exchange.

Pengaruh Good Corporate Governance Terhadap Profitabilitas Perusahaan Manufaktur Sektor Barang Konsumsi yang Terdaftar di Bursa Efek Indonesia Periode 2019-2022

This study to determine the influence of the independent commisioners, board of directory, and audit committee on the profitability of manufacturing companies in the consumer goods sector listed on the Indonesia Stock Exchange (IDX). The data uses secondary data with a population of 113 companies listed in the consumer goods sector on the IDX. The sampling applies purposive sampling totaling 52 companies. The data analysis uses classical assumption test, hypothesis testing, and linear regression test. The results show that: 1) The independent commissioners partially does not influence the company’s profitability, 2) Partially, the board of directors does not influence the company’s profitability, 3) Partially, the audit committee influence the company’s profitability, 4) while the independent commissioners, board of directors, and audit committee simultaneously influence the company’s profitability.

Faktor yang Memengaruhi Prinsip Konservatisme Akuntansi di Perusahaan yang Terdaftar di Bursa Efek Indonesia

Financial reports are guidelines used by various parties in making decisions. However, based on the survey, there are several companies that manipulate financial reports for both personal and company interests. One of the things that can cause financial reports to not be in accordance with the actual situation is the accounting method used, such as the application of accounting conservatism. This research was conducted to test the influence of the independent variables consisting of profitability, leverage, financial distress, and managerial ownership on the dependent variable, namely accounting conservatism. The population of this research consists of 305 data from financial sector companies listed on the Indonesia Stock Exchange from 2020 to 2022. Using purposive sampling techniques, only 87 data meet the research sample criteria and will be analyzed in this research. The research uses a multiple linear regression analysis method which aims to test the influence of more than one independent variable on one dependent variable. The results of this research are that profitability, leverage, financial distress, and managerial ownership simultanously influence accounting conservatism. Profitability, financial distress and leverage partially have no effect on accounting conservatism. Meanwhile, managerial ownership partially influences accounting conservatism.

Pengaruh Family Ownership, CEO duality, dan Political Connection terhadap Firm Performance

This study aims to examine the effect of family ownership and CEO duality moderated by political connection on firm performance. Using purposive sampling method, the research observation uses data from 34 companies in the mining industry in the mining sector listed on the Indonesia Stock Exchange (IDX) during 2018-2023 totaling 200 data samples. The data was tested using software Eviews 12 with moderation regression models with the most suitable model estimation is Common Effect Model (CEM). To measure the dependent variable from this study, which is firm performance, this study uses Return on Assets (ROA) as a parameter. As a result of the moderation regression, family ownership has a positive significant effect on firm performance. CEO Duality has no effect on firm performance. Family ownership moderated by political connection has no effect on firm performance. Lastly, CEO Duality moderated by political connection has no effect on firm performance.

Pengungkapan pada Hubungan Sustainability Report dan Intellectual Capital terhadap Nilai Perusahaan

This research related to company value aims to analyze the relationship between sustainability reports and intellectual capital in manufacturing companies in the industrial and consumption sectors listed on the Indonesia Stock Exchange (BEI) during the 2020-2022 period. The sampling technique was purposive sampling, the results of which were 27 companies that met the research criteria. Data analysis uses SPSS Statistics 26 with descriptive statistical tests, normality tests, multicollinearity tests, heteroscedasticity tests, autocorrelation tests, multiple linear regression analysis, simultaneous tests, partial tests, and coefficient of determination tests. The research results show that sustainability reports do not provide an optimal contribution to company value. However, intellectual capital, especially the employee capital aspect, is a consideration for optimizing its contribution to company value.

Profitability and Earnings Persistence Drive Earnings Management in Manufacturing Firms

General Background: Earnings management significantly impacts stakeholders' decisions based on reported profits. Specific Background: This study examines the effects of profitability, accounting conservatism, liquidity, and earnings persistence on earnings management in manufacturing companies listed on the Indonesia Stock Exchange (IDX) from 2019 to 2023. Knowledge Gap: Previous research shows inconsistent findings, particularly regarding accounting conservatism and liquidity's effects, highlighting a need for further investigation. Aims: This research aims to clarify these influences within the Indonesian manufacturing sector. Results: Using quantitative analysis of 135 firms, findings reveal that profitability and earnings persistence positively affect earnings management, while liquidity negatively impacts it. Accounting conservatism does not significantly influence earnings management. Novelty: This study incorporates earnings persistence as a critical factor, contributing to existing literature. Implications: The results suggest investors should exercise caution in their decisions due to potential financial reporting manipulation and emphasize the need for improved transparency in financial reporting practices. Highlights: Profitability and earnings persistence positively influence earnings management, indicating a tendency for managers to adjust earnings when profits are high. Liquidity shows a significant negative effect on earnings management, suggesting that firms with better liquidity are less likely to engage in earnings manipulation. Accounting conservatism does not significantly impact earnings management practices, highlighting a potential gap in the application of conservative accounting principles. Keywords: Earnings Management, Profit Persistence, Accounting Conservatism, Liquidity, Earnings Persistence

THE INFLUENCE OF CORPORATE GOVERNANCE MECHANISMS ON CARBON EMISSION DISCLOSURE: DOES GREEN PERFORMANCE MATTER?

Carbon emissions disclosure has attracted researchers' attention. This study aims to provide empirical evidence on the influence of more comprehensive corporate governance mechanisms on carbon emission disclosure based on legitimacy and stakeholder theories. This study introduces virtue ethics theory, a new theory in carbon emission research, to explain the moderating role of green performance. Observational data includes 455 data from a sample of companies listed on the Indonesia Stock Exchange from 2018 to 2022. The research data was processed using multiple linear regression methods and moderated regression analysis. The study's results prove that the size of the board of commissioners, the independence of the board of commissioners, the sustainability committee, and institutional ownership positively affect carbon emission disclosure. The green performance also revealed can strengthen the influence of board of commissioners diversity on carbon emission disclosure. Corporate governance is needed to encourage companies to disclose their carbon emissions.

The Influence of World Oil Prices and Economic Growth on the Composite Stock Price Index through Foreign Exchange Rates on the Indonesia Stock Exchange

The Influence of World Oil Prices and Economic Growth on the Composite Stock Price Index through Foreign Exchange Rates on the Indonesia Stock Exchange

Pengaruh Audit Tenure, Rotasi Audit, Dan Fee Audit Terhadap Kualitas Audit Pada Perusahaan Idx80 Yang Terdaftar Di Bursa Efek Indonesia Tahun 2021-2023

The incident of poor audit quality explains that the auditor is fully responsible for the entire audit process until the final audit results are obtained. This study aims to partially examine the effect of audit tenure, audit rotation and audit fees on audit quality. The data used is secondary data obtained from consolidated annual reports and audited financial reports in IDX80 companies for 2021-2023. The population in this study were IDX80 companies listed on the Indonesia Stock Exchange in 2021-2023 with purposive sampling technique for sampling so that 47 sample companies were obtained with 141 observed financial reports. The analysis technique used is binary logistic regression analysis with associative survey quantitative methods. The results obtained show that audit tenure and audit rotation partially have a positive but not significant effect on audit quality, while audit fees have a significant positive effect on audit quality. The contribution of this research is that audit quality measured using the organization and governance of Public Accounting Firms in accordance with the Decree of the Executive Board of the Indonesian Institute of Certified Public Accountants No. 4 of 2018 concerning Guidelines for Audit Quality Indicators at Public Accounting Firms.

Karakteristik dewan direksi dan Kinerja Perusahaan

The growth of market capitalization value for energy sector companies is supported by the high demand for products in this sector. The board of directors' managerial function will be evident in the company's performance achievements. Based on the upper echelon theory, a perspective influenced by the personal attributes of top management is used to evaluate situations and potential decisions. This research aims to determine the influence of gender diversity, board size, and CEO tenure on company performance. The findings of this study can serve as additional references for academics and practitioners. The research population comprises energy sector companies listed on the main board of the Indonesia Stock Exchange, publishing annual reports during the period of 2012–2022. The data analysis method used is multiple linear regression with pooled ordinary least squares for panel data. Heteroskedasticity and autocorrelation-robust standard errors are employed for hypothesis testing and interpretation. Gender diversity does not have a significant impact on company performance. Board size has a positive impact on company performance. CEO tenure has a negative impact on company performance.

The Impact of Tax Planning on Earnings Management in Manufacturing Firms

General Background: Tax planning is a legal strategy employed by taxpayers to minimize their tax liabilities through effective utilization of existing tax laws, ultimately enhancing taxation efficiency. Specific Background: Tax planning's direct impact on earnings management in manufacturing firms, especially in emerging markets like Indonesia, is still underexplored despite its importance. Knowledge Gap: Previous studies have primarily examined the correlation between tax planning and financial performance, neglecting the moderating influence of firm value. Aims: The study examines the influence of tax planning on earnings management in manufacturing companies listed on the Indonesia Stock Exchange from 2017-2020, considering firm value as a moderating factor. Results: Utilizing a quantitative, associative research methodology and secondary data from IDX, the analysis revealed that tax planning significantly affects earnings management (significance level: 0.008), confirming the first hypothesis. Furthermore, the findings indicate that firm value positively moderates the relationship between tax planning and earnings management (significance level: 0.000), thus supporting the second hypothesis. Novelty: This study bridges the gap between tax planning, earnings management, and the moderating effects of firm value in a developing economy. Implications: The study highlights the importance of strategic tax planning for manufacturing firms to improve earnings management, emphasizing the need for firm value consideration in tax-related decision-making. Highlights: Tax planning significantly impacts earnings management in manufacturing firms. Firm value moderates the relationship between tax planning and earnings management. Utilizes quantitative research with secondary data from IDX website. Keywords: tax planning, earnings management, firm value, manufacturing companies, Indonesia Stock Exchange

WHAT AUDIT FEATURES IMPACT VALUE RELEVANCE OF ACCOUNTING INFORMATION?

Research Purposes. The objective of this research is to ascertain how audit quality affects the value and relevancy of accounting data, where audit quality is proxied by audit company size, audit partner gender, audit fees, audit reporting delays, and auditor opinion. Research Methods The study examining the relationship between variables using a fixed-effects model focuses on 780 non-financial corporations registered on the Indonesia Stock Exchange between 2020 and 2021, chosen through non-probability-purposive-judgment sampling techniques. Research Results and Findings. The study's conclusions indicate that while audit fees and latency in reporting can decrease the value relevance of accounting information, public accounting firms associated with the Big Four and the presence of female audit partners can enhance it. Additionally, the auditor's opinion section yields some intriguing results, as it increases the relevance of book value while decreasing that of profit value.

THE INFLUENCE OF PROFITABILITY, LEVERAGE, AND COMPANY SIZE ON TAX AVOIDANCE

This research aims to determine the effect of profitability, leverage and company size on tax avoidance. This study uses a causal quantitative research with descriptive statistical analysis. The sampling technique uses purposive sampling was canducted on property and real estate companies listed on Indonesia Stock Exchange in 2021-2022 with a sample of 54 companies. The analysis method was processed using SPSS with data analysis techniques wich include normality test, multicolinearity test, heteroscedasticity test, autocorrelation test, coefficient of determination test (R²), and partial influence test (t test). The research results show that profitability and leverage influence tax avoidance. Meanwhile, company size has no effect on tax avoidance

PENGARUH CORPORATE SOCIAL RESPONSIBILITY, GOOD CORPORATE GOVERNANCE DAN DIVIDEND POLICY TERHADAP KINERJA PERBANKAN DI INDONESIA

This research aims to examine the influence of corporate social responsibility, good corporate governance (institutional ownership and board size), and dividend policy on the financial performance of banking in Indonesia Stock Exchange (IDX) during the period of 2018 to 2022. A sample of 44 was selected using purposive sampling. The analysis was conducted using E-Views, and the results indicate that corporate social responsibility, good corporate governance, and dividend policy simultaneously affect financial performance. CSR and GCG (institutional ownership and board size) do not significantly influence banking performance in Indonesia, while dividend policy has a significant negative effect on banking performance. This study provides insights for banks and investors to consider dividend policy in managing their businesses and making investment decisions.

The Effect of Profitability, Audit Opinion, Audit Committee and Company Size on Audit Delay (Study of Property and Real Estate Sector Companies Listed on the Indonesia Stock Exchange in 2021-2023)

The Effect of Profitability, Audit Opinion, Audit Committee and Company Size on Audit Delay (Study of Property and Real Estate Sector Companies Listed on the Indonesia Stock Exchange in 2021-2023)

The Effect of Profitability, Company Value, and Environmental Social and Governance (Esg) on Tax Avoidance (Empirical Study on Infrastructure Companies on the Indonesia Stock Exchange in 2016-2022)

The Effect of Profitability, Company Value, and Environmental Social and Governance (Esg) on Tax Avoidance (Empirical Study on Infrastructure Companies on the Indonesia Stock Exchange in 2016-2022)

STRATEGI BERSAING MEMODERASI INOVASI HIJAU, GROWTH OPTION DAN PUBLIC OWNERSHIP TERHADAP KINERJA KEBERLANJUTAN

Sustainability Performance Sustainability within a company in the form of reporting is an important step that can be taken towards corporate sustainability. Investors, regulators and other stakeholders are increasingly exploring their interest in developing sustainable reporting practices. The aim of this research is to analyze Competitive Strategies for Moderating Green Innovation, Growth Options and Public Ownership on Sustainability Performance in energy sector companies listed on the Indonesia Stock Exchange. This research uses secondary data from annual reports and sustainability reports. This type of research is associative quantitative. The sample selection in this research used a purposive sampling method, namely selecting samples based on predetermined criteria. The number of samples in this research was 28 companies. The research sample consisted of 140 observations made at energy sector companies during the 2018-2022 period. Hypothesis testing in this research is the model chosen, namely the Fixed Effect Model. The results of this research show that Green Innovation has a positive effect on Sustainability Performance. Growth Options have a positive effect on Sustainability Performance. Public Ownership has no effect on Sustainability Performance. Competitive Strategy moderates and strengthens the relationship between Green Innovation and Sustainability Performance. Competitive Strategy moderates and weakens the relationship between Growth Options and Sustainability Performance. Competitive Strategy moderates and strengthens the relationship between Public Ownership and Sustainability Performance.

PENGARUH SALES GROWTH, KARAKTER EKSEKUTIF DAN CAPITAL INTENSITY TERHADAP TAX AVOIDANCE: Studi Empiris pada Perusahaan Sektor Consumer Non-Cyclicals Subsektor Food & Beverage yang Terdaftar di Bursa Efek Indonesia Tahun 2018-2022

This research aims to determine and test the influence of sales growth, executive character and capital intensity on tax avoidance in companies in the Consumer Non-Cyclicals Food & Beverage Subsector listed on the Indonesia Stock Exchange in 2018-2022. The population is 84 companies. The sample determination method used purposive sampling, obtained 20 companies with a research period of 5 years so that the total research sample was 100. Data processing used the Eviews 12 Statistical Program by collecting related data then analyzing descriptive statistics, estimating regression models, suitability tests model, classical assumption test, coefficient of determination (R2), panel data regression analysis, F statistical test and t statistical test, t statistical test results. The results of the F statistical test, sales growth, executive character, and capital intensity simultaneously influence tax avoidance. sales growth variables partially have no effect on tax avoidance, but executive character and capital intensity partially have an effect against tax avoidance.

The impact of risk factor disclosure on the initial return of IPO companies amidst a pandemic

The capital market has increasingly become a pivotal avenue for enterprises seeking additional capital for expansion or operational enhancements. In raising funds through an Initial Public Offering (IPO), the company must publish its risk disclosure in the prospectus. Therefore, this study aims to investigate the impact of risk disclosure on the initial return of Indonesian companies undergoing IPOs during the pandemic. Using data from 136 out of 164 companies that went public between 2020 and 2022, sourced from the Indonesian Stock Exchange and company websites, the study employs the ordinary least squares method to estimate the impact of risk disclosures on initial returns during the pandemic. The findings reveal that external and overall risk disclosures significantly influence IPO initial returns. Specifically, Indonesian investors were particularly attentive to external and overall risks when evaluating IPOs during the pandemic. This heightened concern suggests that comprehensive risk disclosure can affect investor behavior and financial outcomes for companies going public in uncertain times, highlighting the importance of transparency in risk communication to support investor decision-making and market stability.