Ultimaccounting Jurnal Ilmu Akuntansi

PENGARUH DEBT TO EQUITY RATIO, PRICE EARNING RATIO, EARNING PER SHARE, PRICE TO BOOK VALUE TERHADAP RETURN SAHAM SELAMA MASA PANDEMI COVID-19 (STUDI PADA PERUSAHAAN YANG AKTIF TERDAFTAR DALAM LQ45 TAHUN 2019-2021)

Desy Mayasari, Usep Syaipudin — Sun, 31 Dec 2023 13:24:54 +0000

Abstract— The existence of Covid-19 caused the economy in Indonesia to become unstable, this caused the performance of the LQ45 stock index to experience a decline. This study's goal was to examine how financial ratios affected stock returns during the Covid-19 pandemic. The population of this study is the LQ45 Index which is found on the Indonesia Stock Exchange in 2019-2021 with a total of 54 companies. The samples used were 25 companies selected using purposive sampling method. This study uses secondary data obtained from annual reports published on the official website of the Indonesia Stock Exchange and the company's official website. Data analysis techniques use descriptive statistics and panel data regression. The results of this study indicate that the Debt to equity ratio (DER) and price earning ratio (PER) partially have no effect on stock returns. Meanwhile, earnings per share (EPS) and price to book value (PBV) have a positive effect on stock returns. Simultaneous test results show that the Debt to equity ratio (DER), price earning ratio (PER), earnings per share (EPS) and price to book value (PBV) have a positive effect on stock returns.

Keywords: Debt to Equity Ratio (DER); Earnings per Share (EPS); Price Earning Ratio (PER); Price to Book Value (PBV); Stock Returns

DETERMINANT FACTORS OF THE COMPANIES TO DO TAX AVOIDANCE

Kenny Ardillah — Sun, 31 Dec 2023 00:00:00 +0000

Abstract— Tax avoidance is carried out by companies to minimize tax payments to the state by doing thin capitalization, transfer pricing, and earnings management because paying taxes is considered a burden and can reduce a company’s profit. The objective of this research is to determine the effect of firm size, thin capitalization, transfer pricing, and earning management on tax aggressiveness with profitability as control variable. This research provide new evidence regarding the influence of firm size, thin capitalization, transfer pricing, and earnings management on tax avoidance in manufacturing companies with consumer goods subsector in Indonesia. The population in this research are all manufacturing companies in the consumer goods sector listed on the Indonesia Stock Exchange in 2017-2021. The data collection technique was using purposive sampling technique to determine research sample for five years period. This research uses the panel data regression method with a random effects model approach. The research results show that firm size and thin capitalization has a positive effect on tax avoidance, while transfer pricing and earnings management do not affect tax avoidance. From this result of research, the company management needs to increase awareness to comply with paying taxes and not to do tax avoidance practices.

Keywords: Earnings Management; Firm Size; Tax Avoidance; Thin Capitalization; Transfer Pricing

DOES THE DISCLOSURE OF ISLAMIC CORPORATE SOCIAL RESPONSIBILITY, ISLAMIC CORPORATE GOVERNANCE, PROFITABILITY, AND BANK SIZE AFFECT TAX AVOIDANCE IN ISLAMIC COMMERCIAL BANKS IN INDONESIA?

Irgi Anggi Fahreza, Annisa Fithria — Sun, 31 Dec 2023 00:00:00 +0000

Abstract— This paper investigates the influence of Islamic Corporate Social Responsibility (ICSR), Islamic Corporate Governance (ICG), profitability, and bank size on tax avoidance in Islamic Commercial Banks in Indonesia. This paper introduces a novel perspective on the factors contributing to tax avoidance within Indonesia's Islamic finance framework. While the general notion of tax management is recognized, this study innovatively explores the intersection of Islamic principles, corporate governance, and tax practices, providing insights that have not been adequately explored in prior research. The study employs a panel data regression analysis, utilizing data from 13 Islamic Commercial Banks spanning 2017-2022, totaling 58 observations. This research approach enables an in-depth investigation into the relationships between ICSR disclosure, ICG, profitability, bank size, and tax avoidance. The empirical findings indicate that ICSR disclosure, the proportion of independent commissioners, and the audit committee positively influence tax avoidance practices. Conversely, the Sharia Supervisory Board and bank size negatively correlate with tax avoidance. Surprisingly, as measured by Return on Assets (ROA), profitability does not significantly impact tax avoidance decisions. This study underscores the intricate connections between Islamic corporate practices, governance structures, and tax avoidance strategies in Islamic Commercial Banks. The research highlights the significance of ICSR disclosure, corporate governance effectiveness, and the presence of religious oversight in shaping transparent and accountable tax practices. Furthermore, the research cautions against overreliance on profitability as a determinant of tax avoidance behaviors.

Keywords: Bank Size; Islamic Corporate Governance, Profitability; Islamic Corporate Social Responsibility; Tax Avoidance

APAKAH PENGUNGKAPAN KEBERLANJUTAN DAN PELAPORAN TERINTEGRASI DAPAT MENURUNKAN RISIKO IDIOSINKRATIK?

Sun, 31 Dec 2023 00:00:00 +0000

Abstract - Risk is something that most investors encounter when investing. Idiosyncratic risk is a risk that can be controlled and diversified to lessen it. Idiosyncratic risks arise due to internal firm conditions, which can stem from manager policies. This study aims to investigate the impact of sustainability disclosure and integrated reporting on idiosyncratic risks. This quantitative study uses research data from the financial reports of manufacturing businesses listed on the IDX between 2016 and 2020, found at www.idx.co.id. This study also makes use of data from www.financial.yahoo.com. Furthermore, this study uses monthly data on 10-year government bond yields from www.bloomberg.com. Purposive sampling was used to select 555 observations (firm-year) for this study. According to this study, sustainability disclosure has a beneficial influence on idiosyncratic risk when utilizing both the market and Fama-French models. Using the Fama-French model, this study discovered that integrated reporting had a favorable influence on idiosyncratic risk. Integrated reporting, on the other hand, has no influence on idiosyncratic risk when utilizing the market model. This study extends capital market-based financial accounting research by using non-financial data and information essential in making investment decisions in addition to financial report figures.

Keywords: Disclosure; Investment; Non-Financial; Non-Systematic Risk

INTERNAL CONTROL IN THE PUBLIC SECTOR IN INDONESIA: A CASE STUDY OF STATE TAX RECEIVABLES MANAGEMENT

Asqolani Asqolani, Rahmat Taufik Hidayat, Marsono Marsono, Bayu Kalpikotomo — Sun, 31 Dec 2023 00:00:00 +0000

Abstract— This research focuses on the Internal Control System (SPI) in managing tax collection at the Directorate General of Taxes (DGT). This study is concerned with the effectiveness of internal control in the public sector, especially on the revenue administration of the central government, which is also stated in the Audit Agency (BPK) report. Internal control is vital to maintain the reliability of financial information in an organization. The method used is qualitative, using The DGT as a case study. The novelty of this research lies in its focus on the tax receivable from both internal and the auditor's points of view. Interviews were conducted with the DGT, the Financial Audit Agency (BPK), and the Inspectorate General (Inspektorat Jenderal/Itjen). Data comes from the Central Government Financial Statements (Laporan Keuangan Pemerintah Pusat/LKPP) and Audit Reports (Laporan Hasil Pemeriksaan/LHP). The results of this study show that the SPI in managing tax collection is good, but there is still room for improvement. It is expected that some recommendations for improving the SPI, such as improving the issuance of letters for the implementation of tax receivables to be entirely through the system, limiting the materiality of collecting tax receivables, maximizing tax collections, especially those that will expire, adding an early warning system to detect overdue collections, faster solving suspend data, and data integration, especially with the tax court for appeal decisions and commercial courts for registration of tax receivables to curators.

Keywords: Audit Report; Central Government Financial Report (LKPP); Internal Control System; Tax Receivables.

BAGAIMANA TATA KELOLA PERUSAHAAN DAN NEGARA BERINTERAKSI DALAM PENGUNGKAPAN LINGKUNGAN PERUSAHAAN DI ASEAN?

Vidya Intani Athfalina, Ancella Anitawati Hermawan — Sun, 31 Dec 2023 00:00:00 +0000

Abstract— This study tries to determine how the regulatory environment of the nation interacts with company governance to affect the amount of pengungkapan lingkungan. The research uses quantitative methods (panel data regression). Data was obtained from a database of 109 ASEAN public companies during 2012-2020. The results demonstrate that: (1) Higher environmental disclosures is more likely to occur in firms with great corporate governance (β = 0,002; p-value<0,05). (2) Likewise, if the company operates in a country with supportive state governance (β = 0,008; p-value<0,1). (3) Corporate and state governance work together (complementary) regarding environmental disclosures (β = 0,000; p-value<0,1). The research contributes evidence on the association connecting corporate governance and agency theory and supports it, the state and environmental disclosures. The study emphasizes the significance of environmental disclosures in combating climate change as well as ASEAN's low level of awareness and compliance. The study findings provide further insight by interacting corporate and state governance which are the two main considerations for environmental disclosure.

Keywords:ASEAN; Agency Theory; Corporate Governance; Country Governance; Environmental Disclosures.

CONTEXTUALIZING INDIVIDUAL TAXPAYERS’ READINESS TO MOVE ON (FROM USING PRESUMPTIVE TAX FACILITY)

Sun, 31 Dec 2023 00:00:00 +0000

Abstract— The tax mechanism known as turnover-based presumptive tax is provided to taxpayers operating within the micro, small, and medium sectors. Presumptive tax, in principle, is exclusively imposed for a specific duration. Individual taxpayers will transition back to the conventional taxation method in 2025. This study aims to explore the factors that influence the willingness of individual taxpayers to transition from utilizing the presumptive tax facility to adopting the conventional taxation scheme. The present study used a qualitative methodology, explicitly employing a case study framework within the context of South Tangerang. We collected primary data through interviews and obtained secondary data from literature documentation. We analyzed the gathered data using thematic and triangulation analysis methods. This research found six factors that influence the willingness of individual taxpayers to adopt changes in the taxation system. This paper makes a valuable contribution to the government by offering an overview of the critical factors that require attention to enhance individual taxpayers' readiness for the shift in their taxation mechanism.

Keywords: Determinant; MSME; Presumptive; Readiness; Tax

THE AUDITOR’S RATIONAL CHOICE OF THE AUDITOR BOARD OF THE REPUBLIC OF INDONESIA IN EXAMINING GOVERNMENT FINANCIAL REPORTS

Glory Augusta Elisabeth M. Sianipar, Lilis Ardini, Kurnia Kurnia — Sun, 31 Dec 2023 00:00:00 +0000

Abstract - This research aims to determine the dilemma of rational choice of auditors from the Audit Board of The Republic of Indonesia in examining government financial reports during the Covid-19 Pandemic. This research using phenomenological approach with interpretive paradigm. Methods of qualitative research were applied in this research. The method used in this research is the phenomenological approach. The subjects of this study serving as informants are those who hold functional positions as auditors within the Audit Board of the Republic of Indonesia. The findings of this study suggest that the challenge faced by the auditors of The Audit Board of The Republic of Indonesia during the Covid-19 outbreak is the auditor's dilemma when evaluating financial accounts. Limited engagement with other people is one of the challenges faced by auditors, making it challenging to gather information or data that ought to be simple. The practice of Working from Home (WFH) could frequently lead to misunderstandings with auditors. This is due to the fact that there is not any face-to-face direct communication between colleagues. Conclusion: The auditors of the Audit Board of The Republic of Indonesia always attempt to make decisions based on careful consideration and sensible choices in order to accomplish the audit objectives when performing their responsibilities. Additionally, there are concerns that emerge based on an auditor's feelings.

Keywords: Auditor; Covid-19; Rational Choice Dilemma; The Auditor Board of the Republic of Indonesia

THE ANALYSIS OF THE TIMELINESS OF FINANCIAL STATEMENTS (AN EMPIRICAL STUDY ON CONSUMER GOODS SUBSECTOR LISTED ON IDX 2018-2021)

Janice Lovell, Karina Harjanto — Tue, 02 Jan 2024 05:45:21 +0000

Abstract- The timeliness of financial statements is regarded as one of the qualitative attributes of financial statements, denoting the availability of information for decision-making purposes prior to its diminished capacity to impact decisions. The objective of this study is to gather empirical data on the impact of profitability (ROA), leverage (DER), liquidity (CR), and institutional ownership on the promptness of financial statement reporting. The focus of this study encompasses consumer products firms that are publicly traded on IDX within the time frame of 2018 to 2021. The present study employed secondary data and employed a purposive sampling technique to select and analyze samples, utilizing logistic regression as the primary analytical tool, resulting in research sample of 25 companies. The findings indicate that there is no significant impact of profitability and liquidity on the timeliness of financial statement reporting. However, the study does find a significant positive relationship between leverage and the timeliness of financial statement reporting. Additionally, institutional ownership is found to have a positive and significant effect on the timeliness of financial statement reporting. The simultaneous impact of liquidity, profitability, leverage, and institutional ownership on the timeliness of financial statement reporting is found to be considerable.

Keywords: Institutional Ownership; Leverage; Liquidity; Profitability; Timeliness of Financial Statement Reporting

THE DETERMINANTS OF MALUS ON REGIONAL DEVELOPMENT BANK IN INDONESIA

Rana Syifa Medinda, Rahmat Febrianto — Sun, 31 Dec 2023 00:00:00 +0000

Abstract— This study is based on the Indonesian Financial Service Authority since 2015 regulates that banks must have a policy to defer, or to clawback, or combination of both the variable compensation paid to bank’s executive. Since the Indonesian Financial Authority allows banks to choose their compensation scheme, this study is to investigate the factors that influence the choice of the policy. Our study is among few studies that investigate this area because the regulation was enacted in 2017. Data are collected from Regional Development Bank in Indonesia that report their compensation policy since 2017 to 2019. We test financial and nonfinancial factors that may determine the choice of compensation policy. Banks with lower net interest margin tend not to choose malus. The similar conclusion is also given by the variable board of commissioner’s tenure. However, commissioner’s remuneration suggests a positive relationship with the propensity to choose malus other than other type of compensation policies. We find that net interest margin, board of commissioners tenure, and remuneration of executives are related to choice of clawback or malus. Future researchers may focus on the effect of corporate governance related to local governments-owned banks and remuneration provisions.

Keywords: Clawback; Compensation; Corporate Governance; Holdback; Malus

CORPORATE PROFITABILITY, AUDIT QUALITY & BOARD GENDER DIVERSITY: DOES IT INFLUENCE TAX AVOIDANCE?

Reika Alicya Amanda, Vita Elisa Fitriana, Supeni Anggraeni Mapuasari — Sun, 31 Dec 2023 00:00:00 +0000

Abstract - This study aims to determine the effect of company profitability and audit quality on tax avoidance, where board gender diversity will be examined as a moderating variable. Several previous studies found inconsistent results regarding the influence of each variable on tax avoidance. In addition, this study extends earlier research, which highly suggests examining the audit quality. Further, in Indonesia, there is a demand for including women in the boardroom, while the last 2 years show that women's participation is decreasing. It indicates that the variables examined are interesting to further investigate. Purposive sampling was used as the sampling method, which generated 15 companies from mining, technology, transportation, and logistics listed on the Indonesia Stock Exchange for 2019–2021. The collected data will be analyzed using moderate regression analysis (MRA). The empirical results showed that both corporate profitability and audit quality positively influence tax avoidance. However, it was observed that board gender diversity does not moderate the relationship between company profitability and audit quality on tax avoidance. These results imply that a profitable company has a relatively high tendency to do tax avoidance, but the gender diversity in the boardroom is not sufficient to influence those relationships. Whatever the gender of the board of directors and certain traits embedded in each gender classification, once they come to the work field, those differences can be neglected because of their ability to work professionally.

Keywords: Audit Quality; Board Gender Diversity; Corporate Profitability; Tax Avoidance