Jurnal Aplikasi Akuntansi

UTAUT 3 MODEL IN PREDICTING AUDITORS INTENTION TO USE CAATS: THE MODERATING ROLE OF ORGANIZATIONAL READINESS

2026-06-11T21:48:17+00:00

Technological advancements in auditing are driving the adoption of CAATs to improve audit quality. The variables in UTAUT 2 can explain technology adoption, but they do not fully capture individual behavioral aspects. Therefore, UTAUT 3 was developed by adding the Personal Innovativeness variable. This research seeks to examine the elements affecting the intention to use CAATs among external auditors in Semarang City, which is expected to be influenced by performance expectancy, effort expetancy, social influence, facilitating conditions, hedonic motivation, price value, habit, and personal innovativeness. By introducing organizational readiness as a moderating variable, this study is expected to give a more detailed overview of how organizational factors influence the effectiveness of audit technology adoption. This study adopted a quantitative approach, collecting data via questionnaires distributed to 33 public accounting firms in Semarang. A total of 22 firms participated in the survey, and the collected data were analyzed using SmartPLS 4. The results found that performance expectancy, effort expectancy, social influence, facilitating conditions, hedonic motivation, price value, habit, and personal innovativeness positively affect the intention to use CAATs. However, organizational readiness moderates the influence of effort expectancy, social influence, hedonic motivation, price value, and habit on Intention to use CAATs

THE EFFECT OF THE BOARD OF COMMISSIONERS, INDEPENDENT COMMISSIONERS, AND GENDER ON ERM WITH FIRM SIZE AS A MODERATION

2026-06-11T21:57:52+00:00

This research examines the influence of board of commissioners size, independent commissioners, and gender diversity on Enterprise Risk Management (ERM) disclosure, with firm size as a moderating variable in basic materials sector companies listed on the Indonesia Stock Exchange during 2021–2024. Using a quantitative approach, this study employs secondary data collected from annual reports and purposive sampling, resulting in 293 observations. The data were analyzed using Moderated Regression Analysis (MRA). The findings indicate that board of commissioners size positively affects ERM disclosure, while independent commissioners negatively affect ERM disclosure. Meanwhile, gender diversity does not significantly influence ERM disclosure. The results further show that firm size weakens the relationship between board of commissioners size and ERM disclosure, strengthens the relationship between independent commissioners and ERM disclosure, and does not moderate the relationship between gender diversity and ERM disclosure. This study contributes to the corporate governance and risk management literature by highlighting the moderating role of firm size in the relationship between governance mechanisms and ERM disclosure within Indonesian basic materials firms. This context has received limited attention in prior studies.

DO GREEN ACCOUNTING PRACTICES IMPROVE PROFITABILITY? DYNAMIC PANEL EVIDENCE FROM INDONESIA'S HEALTHCARE SECTOR

2026-09-15T12:09:37+00:00

This study investigates whether green accounting practices improve the profitability of hospitals listed on the Indonesia Stock Exchange. The study uses secondary data from eight IDX-listed hospitals over 2019–2024, comprising 96 firm–semester observations. Profitability was measured by using return on assets (ROA) and return on equity (ROE). The explanatory variables on this study are waste generation, electricity consumption, water usage, corporate social responsibility (CSR), and firm size. This study applies a dynamic panel Generalized Method of Moments (GMM) model to address potential endogeneity and unobserved heterogeneity. The findings show that waste generation, electricity consumption, and water usage negatively affect both ROA and ROE, whereas CSR and firm size significantly enhance profitability. The dynamic specification confirms persistence in profitability among IDX-listed hospitals, emphasizing that sustainability practices can reinforce financial resilience.

FACTORS CONTRIBUTING TO ACCOUNTING FRAUD TENDENCIES IN THE PUBLIC SECTOR

2026-09-06T10:11:23+00:00

Accounting fraud is an issue that affects not only the private sector but also the public sector, including both central and regional governments. This study examines how internal control, information asymmetry, compliance with accounting rules, and unethical behavior influence the tendency toward accounting fraud. The population in this study is the Regional Apparatus Organization in Kulon Progo Regency. The sample used was 99 respondents. The sampling technique is purposive. The study employed multiple linear regression as its data analysis method. The results indicate that internal control, information asymmetry, and adherence to accounting rules do not influence the likelihood of accounting fraud in the OPDs of Kulon Progo Regency. Meanwhile, unethical behavior has a positive effect on the tendency of accounting fraud in the Kulon Progo Regency OPD. This study makes a new contribution by highlighting that, in the public sector, especially in OPDs in Kulon Progo Regency, accounting fraud is more influenced by unethical behavior than by technical factors such as internal controls, information asymmetry, or adherence to accounting rules. This research emphasizes the importance of an ethics and human behavior-based approach in the context of public sector accounting.

EVALUATION OF INTERNAL CONTROLS OVER THE REVENUE CYCLE: A CASE STUDY OF RETAIL COMPANY X

2026-07-28T00:24:42+00:00

This study evaluates internal controls over the revenue cycle at Retail X, a modern convenience store chain operating a digital ordering application integrated with a Point of Sale (POS) system. The evaluation applies the COSO Internal Control–Integrated Framework/ICIF (COSO, 2013), focusing on two components: Risk Assessment and Control Activities. A descriptive case study approach was employed, with data collected through semi-structured interviews with three informants—the Store Manager, Cashier, and Service Crew—and analyzed using thematic analysis. The findings identify four operational risks: transaction input errors, product preparation errors, order pickup errors, and disruptions in receiving digital orders. These risks stem from employee-customer-system interactions and limitations in human resources and digital infrastructure. Control activities implemented include order confirmation, preparation SOPs, order labeling, product remaking, and manual order verification. However, the evaluation reveals uneven control coverage, heavy reliance on human factors, and a predominance of corrective over preventive controls. By tracing risk from its source to the adequacy of existing controls, this study extends the application of COSO ICIF to digitally integrated retail settings in developing economies. The study concludes that strengthening internal control requires procedural improvements alongside enhanced human resource capacity and information system infrastructure.

EVALUATION OF CORETAX IMPLEMENTATION: A TAX CONSULTANT PERSPECTIVE

2026-07-28T01:03:22+00:00

This study examines how tax consultants at ABC Consulting experience Coretax, Indonesia’s Core Tax Administration System, in their professional work. These practitioners were chosen as primary informants because, unlike individual taxpayers who interact with the system occasionally and on their own behalf, they operate it daily on behalf of multiple corporate clients under strict statutory deadlines, making them the most intensive and operationally exposed users of the system. The research follows a descriptive qualitative, interpretivist case-study design and gathers data through in-depth structured interviews. To interpret user experiences in a legally mandated adoption context, the study draws on the Task-Technology Fit (TTF) framework alongside an adapted DeLone and McLean IS Success Model that excludes the intention-to-use dimension. Results show that system quality poses the biggest obstacle, driven by persistent access instability and the lack of a user activity log. Recurring data errors undermine information quality, and the helpdesk is rated as slow and technically underprepared, producing satisfaction scores between 4 and 6.5 on a ten-point scale. A mapping of nine consultant task types reveals that Coretax fully supports only three. In contrast, high-frequency tasks such as mass invoicing and income tax calculation remain poorly served, especially during peak filing periods. The study concludes that Coretax adoption reflects regulatory obligation rather than user satisfaction. Its main contribution is to extend the combined DeLone-McLean and Task-Technology Fit framework to a compulsory, professional-user setting. It shows that system quality functions as a gating condition for task-technology fit when exit is not an option. The study recommends prioritizing server reliability, data accuracy, and functional integration, distinguishing recommendations under the tax authority’s control from those under the consulting firm’s control.

MODERATING ROLE OF BOARD OF COMMISSIONERS AND AUDIT COMMITTEE MEETING FREQUENCY ON THE ESG AND FIRM VALUE RELATIONSHIP IN INDONESIA

2026-09-20T14:02:44+00:00

This study examines the moderating role of the Frequency of Board of Commissioners Meetings and the Frequency of Audit Committee Meetings in the relationship between ESG performance and firm value. Using 159 firm-year observations from 60 non-financial companies listed on the Indonesia Stock Exchange during 2021–2023, we obtained data from MSCI and OSIRIS and analyzed them using moderated multiple regression. The results show that ESG performance has a positive and significant effect on firm value, consistent with agency and stakeholder theories. The Frequency of Board of Commissioners Meetings does not significantly moderate the relationship between ESG performance and firm value. In contrast, the Frequency of Audit Committee Meetings significantly moderates the relationship in the opposite direction to the hypothesized effect, weakening the positive relationship between ESG performance and firm value. These findings indicate that the relationship between ESG performance and firm value may vary with the characteristics of corporate governance oversight. The findings also highlight that meeting frequency, when considered as a quantitative governance measure, may not fully capture the substantive aspects of oversight. This study has implications for management, investors, and regulators by emphasizing the importance of considering the quality and substance of corporate governance oversight alongside meeting frequency.

PROFITABILITY, LEVERAGE, AND DIVIDEND POLICY ON STOCK VALUATION IN THE CONSUMER AND AGRIBUSINESS SECTORS, INDONESIA STOCK EXCHANGE 2021–2024

2026-10-01T02:10:04+00:00

Investors in the consumer and agribusiness sectors of the Indonesia Stock Exchange (IDX) appear to weigh dividend policy more heavily than profitability or leverage when valuing stocks. Using unbalanced panel data from 17 companies (66 firm-year observations) over 2021-2024, a post-pandemic recovery period, this study tests the effect of Return on Assets (ROA), Debt-to-Equity Ratio (DER), and Dividend Payout Ratio (DPR) on stock valuation proxied by the Price-to-Earnings (P/E) Ratio. Model selection tests (F-test, Hausman, Breusch-Pagan LM) identify Random Effects as the best estimator, with HC3 Robust Standard Errors used for all inferences given the unbalanced panel structure. Among the three variables, only DPR shows a significant positive effect on P/E (Î² = 12.270; p = 0.004), consistent with Bird-in-the-Hand theory: investors prefer the certainty of cash dividends over uncertain capital gains. ROA and DER show no significant effect after correcting for heteroscedasticity, with high-profitability firms tending toward relatively lower P/E, consistent with a denominator effect. For company management, the findings confirm that consistent dividend payment functions not merely as a financial decision but as a communication instrument that measurably shapes investor perceptions of firm value.

DETERMINANTS OF VILLAGE FINANCIAL MANAGEMENT EFFECTIVENESS: SISKEUDES UTILIZATION, APPARATUS COMPETENCY, AND INTERNAL CONTROL SYSTEM IN SINDUE DISTRICT

2026-09-05T23:17:42+00:00

This study aims to examine the effect of SISKEUDES utilization, apparatus competency, and internal control system on the effectiveness of village financial management in Sindue District, Donggala Regency. Effective village financial management plays an important role in supporting transparent, accountable, and responsible village governance. This study employed a quantitative approach using a survey design. Data were collected through structured questionnaires distributed to 104 village officials from 13 villages, consisting of village heads, village secretaries, finance officers, general affairs officers, planning officers, welfare officers, service officers, and government officers. The sampling technique used was saturated sampling. Data were analyzed using multiple linear regression with the assistance of SPSS. The results indicate that SISKEUDES utilization has a positive and significant effect on village financial management effectiveness (p < 0.05), while apparatus competency also has a positive and significant effect (p < 0.05). Meanwhile, internal control system does not have a significant effect (p > 0.05). Simultaneously, SISKEUDES utilization, apparatus competency, and internal control system significantly affect village financial management effectiveness (p < 0.05). This study concludes that SISKEUDES utilization and apparatus competency are significant factors associated with village financial management effectiveness, while the internal control system requires further examination in the research context.

DIGITAL FINANCE STUDY: THE INTERACTION OF PROMOTION, QRIS, AND FINANCIAL LITERACY ON GEN Z CONSUMPTIVE BEHAVIOR

2026-10-01T02:31:33+00:00

The growth of digital payments in Indonesia has influenced Generation Z’s lifestyle and consumption patterns. QRIS (Quick Response Code Indonesian Standard) makes transactions more convenient, while promotions such as discounts and cashback can drive purchasing decisions. On the other hand, financial literacy helps individuals manage their finances and control their spending. Previous studies have examined the effects of financial literacy and cashless payments on Generation Z’s consumption behavior, but cashless payments have generally been studied in broad terms. The use of QRIS and promotions as external factors needs to be examined in conjunction with financial literacy to provide a more specific understanding of consumption behavior. This study seeks to examine the impact of promotions, QRIS utilization, and financial literacy on the consumption behavior of Generation Z among students at Sultan Agung Islamic University (UNISSULA). The study employs a quantitative approach with 115 respondents. Data were collected via a questionnaire and analyzed using multiple linear regression with SPSS. The results show that promotions and the use of QRIS have a positive and significant effect on consumption behavior, while financial literacy has a negative and significant effect. These findings indicate that promotions and the ease of digital payments can increase consumption tendencies, while financial literacy plays a role in curbing Generation Z’s consumption behavior.

THE EFFECT OF CARBON EMISSION DISCLOSURE AND CARBON EMISSION INTENSITY ON FIRM VALUE

2026-10-01T02:39:31+00:00

information a key consideration in corporate valuation. This study examines the relationship between carbon emission disclosure and carbon emission intensity and firm value among energy sector issuers listed on the Indonesia Stock Exchange during the 2022–2024 period. A quantitative approach was employed, analyzing 153 observations using multiple linear regression in Stata. The results of the analysis show that carbon emission disclosure has no significant relationship with firm value, whereas carbon emission intensity has a significant negative effect. These findings indicate that investors place greater emphasis on the efficiency of emissions management than on the extent of environmental information disclosure. Therefore, improving the efficiency of carbon emissions management needs to be part of a sustainability strategy to support firm value.

INVESTMENT OPPORTUNITY SET, FRAUD, AND AUDIT DELAY ON INVESTOR REACTION: THE MODERATING ROLE OF FEMALE BOARD COMMISSIONERS

2026-09-20T14:14:42+00:00

This study examines the effects of Investment Opportunity Set (IOS), disclosed fraud cases, and audit delay on investor reaction, while investigating the moderating role of female board commissioners in Indonesian banking firms. Using 235 firm-year observations of banking companies listed on the Indonesia Stock Exchange during 2020–2024, this study employs a quantitative research design and Moderated Regression Analysis (MRA). Investor reaction is measured using Stock Return; IOS is proxied by the market-to-book value of Equity (MBVE); disclosed fraud cases are measured by the number of fraud cases reported in annual and corporate governance reports; and female board commissioners are measured by their proportion on the board of commissioners. The results indicate that IOS has a positive and statistically significant effect on investor reaction, whereas disclosed fraud cases have a negative and statistically significant effect. Audit delay has a negative but statistically insignificant effect on investor reaction. Female board commissioners do not have a statistically significant direct effect on investor reaction and do not moderate the relationship between IOS and investor reaction. However, female board commissioners significantly strengthen the negative effects of disclosed fraud cases and audit delay on investor reaction. These findings suggest that growth opportunities and governance-related information are relevant to market responses, while board gender diversity may influence how investors respond to disclosed fraud and audit delay in the Indonesian banking sector.

DETERMINANTS OF TAX COMPLIANCE AMONG INDIVIDUAL TAXPAYERS ENGAGED IN SELF-EMPLOYMENT

2026-10-06T22:18:27+00:00

This study investigates the impacts of love of money, tax administration, tax knowledge, trust in tax Authorities, and tax penalties on the tax compliance of self-employed individual taxpayers. This study was conducted in Kota Palu with a population of 772 self-employed individual taxpayers. The minimum sample size was initially set at 60, determined using the "10 times rule" commonly applied in SEM-PLS research; however, to ensure greater accuracy, the sample size was also calculated using Slovin's formula, resulting in a final sample of 264 individuals[CR1.1]. Data were gathered by questionnaires distributed directly and online using Google Forms. The analysis technique applied in the research was Partial Least Squares (PLS) with the assistance of WarpPLS. The findings reveal that the love of money, tax administration, and trust in tax authorities have a significant impact on tax compliance of self-employed individual taxpayers. In contrast, tax knowledge and tax penalties were found to have no significant impact on the tax compliance of self-employed individual taxpayers.

THE EFFECT OF FINANCIAL PERFORMANCE AND COMPANY SIZE ON FINANCIAL DISTRESS IN PROPERTY AND REAL ESTATE COMPANIES ON THE INDONESIA STOCK EXCHANGE IN 2020-2025

2026-10-08T01:42:48+00:00

Financial distress represents a critical challenge for corporations, as it may jeopardize the sustainability of business operations and the capacity to meet financial commitments. This research investigates how financial performance and firm size influence financial distress among property and real estate firms listed on the Indonesia Stock Exchange during 2020–2025. A quantitative research design was adopted, employing Partial Least Square Structural Equation Modeling (PLS-SEM) through WarpPLS 8.0 software. The empirical evidence demonstrates that financial performance significantly influences financial distress. Furthermore, firm size exerts a significant negative influence on financial distress. These results reflect the relevance of corporate financial conditions and organizational scale in shaping exposure to financial distress. The study offers managerial implications by emphasizing the need to strengthen financial performance management and utilize corporate resources efficiently in supporting financial stability.

THE ROLE OF SIRI' CULTURE IN FRAUD PREVENTION: ACCOUNTABILITY AND TRANSPARENCY IN VILLAGE FUND MANAGEMENT

2026-10-08T01:40:20+00:00

The management of village funds requires effective governance mechanisms to prevent fraud, particularly through accountability and transparency. In addition to these formal mechanisms, local cultural values such as Siri’ culture, which emphasizes self-worth, honor, and moral responsibility, may potentially strengthen fraud prevention mechanisms. This study examines the effects of accountability and transparency on fraud prevention in village fund management and investigates the moderating role of Siri’ culture in these relationships. A quantitative approach was employed using questionnaires distributed to 121 respondents, including village officials, members of the Village Consultative Body (BPD), and hamlet heads from 11 villages in Karossa District, Central Mamuju Regency. Data were analyzed using Structural Equation Modeling-Partial Least Squares (SEM-PLS) with WarpPLS 7.0. The results show that accountability and transparency have positive and significant effects on fraud prevention. However, Siri’ culture does not significantly moderate the relationship between accountability and fraud prevention or the relationship between transparency and fraud prevention. These findings indicate that accountability and transparency play important roles in fraud prevention in village fund management, while the effectiveness of these mechanisms does not significantly differ according to the moderating role of Siri’ culture. Therefore, the findings provide empirical support for strengthening accountability and transparency as formal governance mechanisms for fraud prevention in village fund management.

AUDITOR’S INTERPRETATION OF AUDIT RESULTS: AN ETHNOMETHODOLOGICAL STUDY AT THE POSO REGENCY INSPECTORATE

2026-10-10T01:28:18+00:00

This study examines how auditors interpret audit results within government oversight practices at the Poso Regency Inspectorate. Previous research has mainly addressed audit findings in terms of their administrative, corrective, and governance functions, with less attention to how auditors construct their meaning through everyday practices. An ethnomethodological perspective is therefore used to examine this interpretive process in its social context. The study adopts Garfinkel’s ethnomethodology, drawing on indexicality, reflexivity, and accountability, with Attribution Theory as a supporting perspective. Data were collected in July 2025 through semi-structured interviews, observations, and documentation involving four purposively selected auditors. Data credibility was established through source and technique triangulation. The findings show that auditors interpret audit results not merely as administrative documents but as fact-based, targeted, and accountable outputs that generate measurable and actionable recommendations. These results support oversight, evaluation, guidance, and governance improvement through practices such as refining SOPs, reorganizing honorarium decree administration, evaluating SPMs, and assisting PBJ activities. The study contributes an interpretive understanding of audit results by showing that their meaning is produced through auditors’ everyday interactions and practices rather than being inherent in audit documents.

TAX AVOIDANCE AND FIRM VALUE IN INDONESIA’S ENERGY AND MINING SECTORS: THE MODERATING ROLE OF ESG DISCLOSURE

2026-10-14T06:43:09+00:00

This study examines the relationship between tax avoidance and firm value and whether environmental, social, and governance (ESG) disclosure moderates this relationship. The study focuses on energy and mining companies listed on the Indonesia Stock Exchange during the 2021–2024 period. The final firm sample consists of 33 companies, producing 132 potential firm-year observations. After excluding five firm-year observations with negative earnings before tax, the final regression sample consists of 127 firm-year observations. Firm value is measured using Tobin’s Q, tax avoidance is proxied by the Cash Effective Tax Rate (CETR), and ESG disclosure is measured through a manually constructed disclosure index based on annual reports and sustainability reports. The hypotheses are tested using the Fixed Effects Model with firm-level cluster-robust standard errors. The results show that CETR is not significantly associated with Tobin’s Q. ESG disclosure is also not significantly associated with Tobin’s Q, and the interaction between CETR and ESG disclosure is statistically insignificant. These findings indicate that this study does not find statistically significant associations among tax avoidance, ESG disclosure, their interaction, and firm value within the specified sample, period, measurement approach, and model specification. The study highlights the need to improve the quality, credibility, and consistency of ESG disclosure in relation to corporate tax practices.

COMPANY SIZE, LEVERAGE, PROFITABILITY, SALES GROWTH, AND FREE CASH FLOW: THEIR EFFECT ON REAL EARNINGS MANAGEMENT AMONG CONSUMER NON-CYCLICAL FIRMS ON THE INDONESIAN STOCK EXCHANGE, 2022-2024

2026-10-14T15:52:21+00:00

Company size, leverage, profitability, sales growth, and free cash flow may all shape how firms manage real earnings. This study tests that relationship among consumer non-cyclical firms listed on the Indonesia Stock Exchange (IDX) between 2022 and 2024. The research follows a quantitative design and draws on secondary data from audited annual financial reports. Out of a population of 128 companies, purposive sampling yields a final sample of 74 firms and 222 firm-year observations. Real earnings management (REM) is measured using the Roychowdhury (2006) framework through three measurement proxies, namely abnormal operating cash flows, abnormal production expenditures, and abnormal discretionary spending. The empirical examination employs panel data regression facilitated by EViews 13. Findings from the Chow, Hausman, and Lagrange Multiplier tests designate the Random Effect Model as the most suitable estimation approach. The empirical evidence indicates that sales growth and free cash flow exert positive and statistically significant effects on real earnings management (REM). In contrast, firm size, leverage, and profitability exhibit no statistically significant association with REM. This pattern supports agency theory: the pressure to sustain sales performance, combined with the presence of discretionary cash, gives management greater room to act opportunistically through real activities manipulation. These results carry practical value for investors, creditors, and corporate governance mechanisms aiming to detect REM practices at an early stage.

DRIVERS OF E-WALLET USAGE INTENTION IN THE TOURISM INDUSTRY: INTEGRATING INNOVATION DIFFUSION THEORY AND THE MOTIVATIONAL MODEL

2026-10-21T22:45:14+00:00

The growing use of digital payment technologies in tourism highlights the need to understand factors influencing tourists' e-wallet adoption. This study examines e-wallet adoption by integrating Innovation Diffusion Theory (IDT) and the Motivational Model (MM). The model incorporates compatibility, complexity, relative advantage, observability, trialability, perceived usefulness, attitude toward using, and intention to use. A quantitative approach was applied using questionnaire data from 145 tourists who had visited Badung Regency, Bali, and used at least one e-wallet application. Data were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) with SmartPLS. The results indicate that compatibility significantly affects intention to use and perceived usefulness. Relative advantage and observability also significantly influence perceived usefulness. Furthermore, perceived usefulness positively affects attitude toward using, which subsequently influences intention to use. In contrast, complexity has no significant effect on perceived usefulness, while trialability does not significantly affect perceived usefulness or intention to use. Overall, e-wallet adoption among tourists is associated with compatibility, perceived benefits, usefulness, and favorable attitudes toward digital payment technology. Integrating IDT and MM provides a comprehensive framework for explaining tourists' e-wallet adoption behavior.

EXAMINING ENVIRONMENTAL PERFORMANCE AS A MEDIATOR BETWEEN AUDIT COMMITTEE AND CARBON EMISSION DISCLOSURE IN ENERGY AND BASIC MATERIALS SECTORS

2026-10-21T22:50:35+00:00

This paper explores the mediating role of environmental performance in the relationship between the audit committee and carbon emission disclosure. Using purposive sampling based on specific criteria, the final sample consists of 162 firm-year observations from 51 unique energy and basic materials firms registered on the Indonesia Stock Exchange in 2020-2024. As the number of observed firms in each year differs across the five-year study period, this study uses unbalanced panel data. Data analysis was performed in EViews 14, employing linear regression and the Sobel test to investigate correlations among variables. This study finds that audit committees are positively correlated with environmental performance (p-value = 0.0001) and carbon emission disclosure (p-value = 0.0287). Moreover, environmental performance is positively associated with carbon emission disclosure (p-value = 0.000). The Sobel test shows that environmental performance mediates the relationship between the audit committee and carbon emission disclosure, as depicted by the p-value of 0.0016. This research offers valuable insights for stakeholders, including enriching the literature on sustainability accounting, particularly regarding factors influencing carbon emission disclosure. In addition, it aims to provide practical guidance for regulators in Indonesia during the policy-making process on carbon emission reporting.

CAPITAL STRUCTURE NONLINEAR INVERTED U-SHAPED EFFECT ON FIRM VALUE WITH PROFITABILITY MODERATION

2026-10-21T22:52:34+00:00

This study aims to examine the nonlinear effect of capital structure on firm value and the moderating role of profitability in energy sector companies listed on the Bursa Efek Indonesia during the 2020–2024 period. This quantitative study uses a total of 314 observations selected through purposive sampling. The dataset constitutes an unbalanced panel because not all companies have observations for every year during the study period. The data are analyzed using quadratic regression and Moderated Regression Analysis (MRA). The results indicate that capital structure has a statistically significant inverted U-shaped effect on firm value. Firm value increases as debt levels rise until an optimal threshold is reached, after which further increases in debt are associated with declining firm value. However, profitability does not significantly moderate the nonlinear effect of capital structure on firm value. These findings are consistent with trade-off theory and provide empirical evidence of an optimal capital structure in Indonesia’s capital-intensive and volatile energy sector.

REVIEW OF THE FINANCIAL ASPECTS OF PUBLIC–PRIVATE PARTNERSHIP FOR ROAD PRESERVATION: A CASE STUDY OF A ROAD SECTION IN EAST JAVA

2026-10-23T08:29:03+00:00

The choice between flexible and rigid pavement under a Public–Private Partnership (PPP) scheme for road preservation has rarely been assessed financially. This study compares the financial implications of both alternatives for a planned project in East Java Province financed through an Availability Payment (AP). It is a case study that combines qualitative data collection (observation, interviews, and documentation) with quantitative financial analysis of Capital Expenditure (CAPEX), Operational Expenditure (OPEX), AP, Net Present Value (NPV), Internal Rate of Return (IRR), payback period, and discount rate sensitivity. The preferred alternative was judged by lower CAPEX, lower present value of the government's AP obligation, and shorter payback period. Flexible pavement requires a CAPEX of IDR 157.14 billion, 39% lower than rigid pavement (IDR 218.36 billion). At a 12% discount rate, the annual AP is IDR 42.08 billion over 10 years for flexible pavement and IDR 43.18 billion over 20 years for rigid pavement, with present values of IDR 237.75 and 322.51 billion and payback periods of 5.65 and 7.46 years. The advantage narrows over an equal 20-year horizon and reverses below a discount rate of about 10.4%. These findings apply only to the case studied and complement, rather than replace, technical assessment.

GOVERNANCE MECHANISMS AND LOCAL TAX REVENUE: EMPIRICAL EVIDENCE FROM REGENCY AND MUNICIPAL GOVERNMENTS IN EASTERN INDONESIA

2026-10-23T08:30:54+00:00

This study examines the associations between Government Internal Supervisory Apparatus (APIP) capability, Government Internal Control System (SPIP) maturity, corruption control effectiveness (IEPK), and realized local tax revenue, with relative GRDP contribution as a control variable. Using a balanced panel of 150 regencies and municipalities in Eastern Indonesia from 2022 to 2024 (450 observations), the study employs a fixed-effects model. The results show that APIP capability are positively and significantly associated with the natural logarithm of realized local tax revenue. SPIP maturity and GRDP contribution are not statistically significant. These findings indicate that governance mechanisms have different associations with local tax revenue, without establishing direct causal relationships.