Indonesia Conference Directory

Corresponding Author
Suci Toviny Nur

Institutions
University of Indonesia

Abstract
Chief Executive Audit has a responsibility to ensure the activity of internal audit comply with the International Professional Practices Framework (IPPF) and Code of Ethics. Chief Executive Audit should develop and maintain the evaluation activities under Quality Assurance and Improvement Program. The objective of this study was to determine the internal and external assessment can fulfill the quality standard of PT X-s internal audit department in accordance with the IIA Standard. This research used a descriptive comparative approach with the trend analysis research method from the study field. The result of this research shows that the implementing of internal and external assessment in PT X is used optimally as a quality assurance of Internal Audit Department under Standard 1300: Quality Assurance and Improvement Program. The internal and external assessment also used as evaluating tool to develop the competency of auditor internal for improvement program.

Keywords
Internal Audit, Internal Assessment, External Assessment, Quality Assurance

Topic
Financial Management and Accounting

Link: https://ifory.id/abstract/N2Qyxwg9uK4v

Corresponding Author
Endang Mahpudin

Institutions
Universitas Singaperbangsa Karawang

Abstract
This study aims to investigate forecasting using the graph method available in statistical assisted software, with the initial basis of multiple regression modeling. This study uses data from 5 of the 7 developing market economies, in addition to Russia and Mexico. The author considers that the 5 countries that are incorporated into emerging market 7 are closely integrated with other countries, especially against other emerging market countries. By capitalizing on market size and integration between countries, the authors empirically estimate the spillovers of this study, using the graph forecasting model to provide additional input and information re-lating to monetary macroeconomics in emerging market countries. The variables used in this study include the money supply in 5 emerging market countries, the inflation rate in the country, the composite stock price index in 5 countries, and the interest rate and expected return in 5 emerging market countries. [19]

Keywords
Developing countries, macroeconomics, integration.

Topic
Financial Management and Accounting

Link: https://ifory.id/abstract/mGAWEHMrcy9d

Corresponding Author
Kasir SE, M.Ak

Institutions
Indonesian College of Economics Building
(STIE INABA) Bandung

Abstract
This study aims to examine the factors that influence economic growth and local revenue originating from the potential of motor vehicle tax both Two-Wheel (R-2) and Four-Wheel (R-4) with Analog Bond systems and special rates on police numbers selection. And to assess the potential impact of fiscal and economic growth on the welfare of the people in West Java, especially the southern region. This study takes a population of all cities / districts in the West Java region. The research method used is descriptive and verification method, and the data taken is secondary data. While the analytical tool used uses Data Panel Regression, as well as to calculate tax potential using the Hodrick and Prescott Filter (HP Filter). The results of his research show that the provision of tax incentives for motorized vehicles that are paid for in advance and special rates for police numbers have a significant effect on local revenue and economic growth.

Keywords
Motor Vehicle Tax, Economic Growth, Regional Revenue Potential, Hodrick and Prescott Filter (HP Filter)

Topic
Financial Management and Accounting

Link: https://ifory.id/abstract/A6jbtuX9kxcf

Corresponding Author
Raniyah .

Institutions
All authors from University of Indonesia, Faculty of Economics and Business, Salemba, Jakarta, Indonesia

Abstract
PT. Garuda Indonesia Tbk is the only one of the airlines in Indonesia that operates as non-integrated cargo services and manages air cargo terminal service. This study aims to assess and evaluate the business model of airlines as an air cargo terminal operator. Correspondingly, in order to analyze the business model, the airline is run as an air cargo terminal operator on its own compared to if the cargo services outsourced to other parties at the terminal. The analysis will conduct by performing financial analysis and comparative study analysis. After that, scenario analysis will lead and decided the priority of air cargo business. The result is when the company decides to outsource the business to the other party is better than if they run by themselves. From the scenario analysis was that all the scenarios still better compared to if they run their business.

Keywords
Air Cargo, Terminal Operator, Financial Analysis, Warehouse Revenue, Comparative Study

Topic
Financial Management and Accounting

Link: https://ifory.id/abstract/9eaHxhVqRvmy

Corresponding Author
MUHAMMAD ISKANDAR ISMAIL

Institutions
1. Universitas Pendidikan Indonesia
Bandung, Indonesia

2. Pesantren Daarut Tauhiid

Abstract
This study analyzes the financial performance of waqf institutions in Indonesia related to the effectiveness of waqf financing models; the application of good corporate governance (GCG) in waqf institutions; and intellectual capital (IC) from the waqf manager. This analysis of financial performance provides an overview of the position of financial performance of waqf institutions in Indonesia which involves waqf financing models, the application of GCG and IC from various aspects. This study was using exploratory methods and content analysis with a qualitative approach to study a phenomenon in a case in a real context, and conducted in 7 (seven) waqf institutions in Indonesia. This study proposes the triple-helix concept of the financial performance of the institution consisting of productive endowment financing models, the application of GCG and IC. The concepts found can be used as a basis for researchers to carry out empirical research in the field.

Keywords
waqf institution, financial performance, application of good corporate governance, intellectual capital, Indonesia

Topic
Financial Management and Accounting

Link: https://ifory.id/abstract/pfQ8wKjLbxTA

Corresponding Author
Rio Aurachman

Institutions
a) Telkom University
Jalan Telekomunikasi Nomor 1, Bandung 40257
*rioaurachman[at]telkomuniversity.ac.id
b) Institut Teknologi Telkom Surabaya
Jl. Gayungan PTT 17-19 Kota Surabaya 60235
c) IT Telkom Purwokerto
Jalan D.I. Panjaitan 128 Purwokerto

Abstract
ISO 37001 is an international standard for anti-bribery management system. Some research show the strengths and links of this standard compared to other standards. Several studies discuss it-s application in various fields of industry and organizations. This research tries to contribute in designing implementation of standard and generic documents that will later could be applied to every kind of organization. It will be able to assist organizations in implementing ISO 37001 quickly and precisely.

Keywords
ISO 37001, Management System, Process Document, Anti-Bribe

Topic
Financial Management and Accounting

Link: https://ifory.id/abstract/kCjr74YhHUmv

Corresponding Author
Dwi Fitrizal Salim

Institutions
Universitas Pendidikan Indonesia

Abstract
Capital structure decisions are much influenced by firm specific factors, whereby these factors are supported by the existing Capital Structure Theory. This study aimed to look on how firm specific factors supporting the Pecking Order Theory from the 50 Biggest Market Capitalization of the Indonesia Stock Exchange for the period 2013-2018. These specific factors chosen were Tangibility Asset, Market to Book Ratio, Size, Profitability, and Liquidity. The results suggest that tangibility asset, profitability and liquidity were having negative relationship with the leverage, whereas market to book ratio were positively related to the leverage. Size did not appear to be significantly related to leverage. The results of this study supported The Pecking Order Theory. Another finding was an R square of 0.689 showed that specific factors have 68.9% effect on the companys leverage.

Keywords
Pecking Order Theory; Specific Factors of Capital Structure

Topic
Financial Management and Accounting

Link: https://ifory.id/abstract/rUd3WcN7ATMJ

Corresponding Author
Gusganda Suria Manda

Institutions
Universitas Singaperbangsa Karawang

Abstract
The case study in this research was conducted at PT Tri Jaya Teknik Karawang with research data per semester in 2012-2016 period. The phenomenon in this company is the unstable of company profit in each semester, which causes the selling price every year, and causing debt that impact on working capital and sales volume, creating the unstable of its net profit. The purpose of this study is to determine whether the working capital and sales volume affects the net income either partially or simultaneously. This study has two independent variables, they are: Working Capital (X1) and Sales Volume (X2) and one dependent variable is Net Profit (Y). The method used in this research is quantitative method, with data analysis method using data normality test and classical assumption test. The data are using descriptive and verificative analysis. Based on the result of the research in t test (partial),means there is influence of Work Capital and Sales Volume to Net Income partially. It means simultaneously (F test) obtained significant value variable of Working Capital and Sales Volume is about 0.010 <0.05, it means simultaneously the influence of Working Capital and Sales Volume to Net Profit. The coefficient of determination test shows that Working Capital and Sales Volume have a strong influence on Net Profit that is equal to around 73,1% and the rest equal to around 26,9% influenced by the other variable outside of second variable which is studied.

Keywords
Working Capital, Sales Volume, Net Income

Topic
Financial Management and Accounting

Link: https://ifory.id/abstract/reWzJt4GPQ6C

Corresponding Author
Andiasa Adesia

Institutions
a) MM Universitas Indonesia
b) MM Universitas Indonesia

Abstract
In this paper we present new evidence on the relation between idiosyncratic risk and stock performance performance using Fama French three factor model. We show that idiosyncratic risk is not eliminated in excess stock returns, and show mixed result relation between excess stock return and idiosyncratic risk. We use a unique data set containing daily returns of 80 Indonesia equity of KOMPAS100 index on a 7-year period to measure stock performance. We formed portfolios based on market capitalization and book to market value. We found that idiosyncratic risk has positive relation with excess stock return specifically in portfolio of second tier size and portfolio with highest and lowest book to market value.

Keywords
Idiosyncratic Risk; Fama French Three Factor Model;

Topic
Financial Management and Accounting

Link: https://ifory.id/abstract/K43JqdTyrRHc

Corresponding Author
Wayan Winten Adnyano

Institutions
Universitas Indonesia

Abstract
The airline operating cost may vary along the operation time of the aircraft. This cost fluctuation should be taken as consideration for the decision-making process, for instance, the pricing calculation. A poor costing might distort pricing leading to a loss of business. A long-term oriented cost calculation to forecast the total cost of aircraft during the operation time is critical for the airline company. This research aims to study how the application and implementation of life-cycle cost analysis on aircraft operating lease context in the airline company, with emphasis on aircraft maintenance and disposal or redelivery cost. It uses a case study framework on an airline in Indonesia with interviews and documentation analysis as the main research method. Activity-based life-cycle costing model is found to be applicable for the company. The research presents an approach that provide a long-term oriented costing that is needed for management accounting report and management decision.

Keywords
Life Cycle Costing; Airline Operating Cost

Topic
Financial Management and Accounting

Link: https://ifory.id/abstract/qjfcFRzrGgvL

Corresponding Author
Aldi Akbar

Institutions
Universitas Pendidikan Indonesia, Bandung, West Java, Indonesia

Abstract
This study aims to examine the effect of variable income growth, managerial ownership, efficiency and firm size on firm value and dividend policy on companies listed on the Indonesia stock exchange in 2014 - 2018. The samples taken are companies that are members of the LQ45 stock group based on considerations (1) liquidity and market capitalization, (2) companies routinely distribute dividends annually, (3) companies come from various industries. Data is obtained from the IDX page (www.idx.co.id) and the analysis technique used in this study is path analysis. The test results show that income growth has a negative effect on firm value and also on dividend policy. While managerial ownership, firm size, and firm efficiency do not affect firm value. The size and efficiency of the company have a positive effect on dividend policy. Managerial ownership and firm value do not affect dividend policy.

Keywords
dividend policy, company value, growth, managerial ownership

Topic
Financial Management and Accounting

Link: https://ifory.id/abstract/Ue8yBdKhRqPz

Corresponding Author
Ryan Elfahmi

Institutions
Universitas Pendidikan Indonesia, Bandung, Jawa Barat, Indonesia

Abstract
This study aims to examine the effects of understanding investment, the existence of minimum investment capital, benefit and perceived risk on student investment intention in the capital market, with wages and capital market training used as moderate variables. The analysis technique in this study is the Moderated Regression Analysis (MRA). The sampling method is purposive sampling, with several criteria developed previously. The questionnaire is used to collect data from respondents. Respondents in this study were workers who were also students at the University of Pamulang, South Tangerang. A total of 162 respondents participated. Based on MRA analysis, understanding of investment, minimum investment funds, benefits and perceived risk influence investment intentions. Capital market training and wage as moderate variables did not show a significant effect.

Keywords
Investment intention, investment understanding, minimum investment funds, risk perception, benefits, wages, capital market training

Topic
Financial Management and Accounting

Link: https://ifory.id/abstract/QfczCEbYXZPm

Corresponding Author
Syarief Fauzie

Institutions
Faculty of Economic and Business, University of Sumatera Utara

Abstract
The purpose of this study is to find out how the interaction between liquidity creation, regulatory capital, and risk-taking in the banking industry in ASEAN countries. The test in this study uses a panel vector auto-regression model to be able to see the interaction between the three variables. The research data used is quarterly data from banks listed on the stock exchange in the period 2009 - 2017. The results of the study indicate that there is a positive reciprocal relationship between regulatory capital and risk-taking. Also, the regulatory capital regulations of the previous four quarters reduced liquidity creation. The results also show that there is no interaction between liquidity creation and risk-taking.

Keywords
Liquidity creation, regulatory capital, risk-taking

Topic
Financial Management and Accounting

Link: https://ifory.id/abstract/VT6Bzh9enm2d

Corresponding Author
Diana Andriani

Institutions
a) Departement of Industrial Engineering
Universitas Komputer Indonesia,
Jl. Dipati Ukur No 112-116, Bandung, *andriani_rafayzan[at]yahoo.com

b) Departement of Accounting Education, Universitas Pendidikan Indonesia
Jl. Dr. Setiabudi No. 229, Bandung, Indonesia

Abstract
This study aims to examine the relationship of cognitive bias with investment decisions on lecturers. Investment activities can sometimes cause errors or bias in the process of perceiving information relating to investment. Cognitive bias is an error in the thinking of someone who tends to be illogical in understanding something. Lecturers, as educators, must think logically and rationally in determining investment decisions. This will be tested whether lecturers are generally more rational or irrational in determining investment decisions.The sample of respondents was 70 lecturers. Data collection comes from the results of questionnaires. Multiple regression analysis is used to identify 7 cognitive biases that influence investment decisions, namely Overconfidence, Conservatism, Anchoring, Herding, Availability, Representativeness, and Mental Accounting. In addition, which bias is the most dominant effect on investment decisions. The results showed that lecturers experience cognitive bias so that it can be said, they act irrationally in determining investment decisions. The insignificant biases in investment decisions are Overconfidence and Representativeness, because these biases have a negative effect, and the dominant cognitive bias is Mental Accounting.

Keywords
Behavioral Finance, Cognitive Bias, Irrational

Topic
Financial Management and Accounting

Link: https://ifory.id/abstract/XUYAG9Tu6KVC

Corresponding Author
Ignatius Roni Setyawan

Institutions
DEPARTMENT OF MANAGEMENT
FACULTY OF ECONOMICS TARUMANAGARA UNIVERSITY)

Abstract
This study is aimed to examine the significance of long run relationship among the stock price indices of Asia comprising NIKKEI 225, KOSPI, HANG SENG, STI, and KLCI to JCI from 1999 to 2013. The testing method used to analyze are Johansen co integration and VECM. Furthermore, we can prove that there is significant simultaneous short run relationship among stock price indices in Asia toward JCI although it reveals only from HANG SENG and STI. Thus, we conclude that there is still the co integration among stock indices in Asia toward JCI.

Keywords
stock market indices in Asia, co integration, VECM (Vector Error Correction Model, JCI

Topic
Financial Management and Accounting

Link: https://ifory.id/abstract/BxFZEpf6Yjg9

Corresponding Author
Nandan Limakrisna

Institutions
a) Universitas Pamulang, Banten Indonesia
b*) Univeristas Persada Indonesia YAI. Jakarta and Universitas Winaya Mukti, Bandung.

Abstract
As a business entity that plays a vital role in maintaining sustainability in funding as well as raising funds from and by the community, the role of banks, both red plate banks, national private banks and foreign private banks operating in Indonesia cannot be underestimated. The existence of the banking world is an absolute prerequisite for the growth of the economy of a country. Various regulations and legal umbrella that can update the development of the banking world become a necessity. Selectively in giving micro credit approval to customers, both entities or individuals engaged in MSMEs, the key to the banking world is to avoid the risk of bad debt and also the existence of immovable asset guarantees. crucial in dismissing all the adverse effects that will occur when a default occurs.

Keywords
micro credit, banking institutions

Topic
Financial Management and Accounting

Link: https://ifory.id/abstract/CARWvG3FQTrJ

Corresponding Author
Deden Komar Priatna

Institutions
a) Universitas Winaya Mukti
a*) Universitas Winaya Mukti

Abstract
The purpose of this research is to know and analyze the influence of effectivity of trucks and internal control the commitment of the organization as the application of an accounting system, and accountability jointly on the quality of government financial report in West java. Methods used in this research is descriptive method and survey eksplanatori .A unit of analysis in this research is the government in West java province with a unit of observation SKPD officials, with the sample size of 370 people SKPD officials .Analysis method used is descriptive analysis and analysis of structural equation model (SEM). Research findings is to improve the quality of a financial statement that dominant financial report formed by dimensions can be compared to the reports on the previous period financial report financial or other entities reporting in general (Y7), we must be increased accountability a financial statement that dominant formed by responsibility dimensions presentation of a financial statement that aims to (Y1) public. Accountability can increase if the application of financial report accounting system formed by the application of the dominant dimensions presentation of financial statements (X13) used in an imprecise manner . The managerial implications of the research is implementing effectivity an internal control, commitment organization, and the application of an accounting system in together can to promote accountability government financial report in the province west java with the contribution of impact by 45 % .Implementing effectivity an internal control, commitment organization, the application of an accounting system and accountability financial reports in together can meninkatkan the quality of government financial report in the province west java with the contribution of impact by 75 %

Keywords
Implementing internal control effectivity, organizational commitment, acconting application system, financial accountability report, financial reports quality

Topic
Financial Management and Accounting

Link: https://ifory.id/abstract/6kCRMf2rbEm4

Corresponding Author
Adhy Pramudita

Institutions
University of Indonesia

Abstract
Nowdays, small and medium enterprises continue to grow in Indonesia, contributing more than one fifth of Indonesias Gross Domestic Product, making this segment very potential to continue to be developed. Domestic and foreign banks see this small and medium business segment as a promising segment, making the majority of banks in Indonesia compete in lending to this segment. However, amid a promising prospect, this segment also has its own challenges, where the national-s ratio of non-performing loans in this segment exceeds the ratio of non-performing loans of all loans disbursed. This study aims to assess the reliability of the Altman Z-Score and Ohlson O-Score methods as bankruptcy predictor in Small Medium Enterprise segment in Indonesia and the reliability of the companys financial statements in the Small Medium Enterprise segment in reflecting the companys real conditions as input data to analyze the possibility of the company going bankrupt. This research uses financial report data from companies that are debtors in the Small Medium Enterprise segment at Bank Mandiri. The results showed that the Z-Score calculation was able to predict bankruptcy with an accuracy of 51.8%, 37.4%, 36.3%, and 11.4% for one, two, three and four years before bankruptcy while Ohlson O-Score giving better accuracy results of 73.6%, 43.2%, and 58.5% for one, two and three years before bankruptcy. Based on these results and interviews with internal parties of the Bank it can be concluded that financial statements for Small Medium Enterprise segment companies in general have not been reliable enough to reflect the companys condition in real.

Keywords
Bankruptcy Prediction, Z-Score, O-Score, Small Medium Enterprise

Topic
Financial Management and Accounting

Link: https://ifory.id/abstract/rwyf2zaQtLUN

Corresponding Author
elva herlianti herlianti

Institutions
universitas pendidikan indonesia
Jl setiabudi no 229 bandung 40154 indonesia

Abstract
ABSTRAK Menyikapi realisasi era digital saat ini, kualitas layanan enterprenuer di Indonesia diharapkan semakin meningkat secara signifikan, agar mampu menjangkau seluruh lapisan masyarakat, khususnya bagi masyarakat yang tinggal di daerah 3T (Terdepan, Terluar, dan Terpencil). Namun, pada kenyataannya kualitas layanan enterpreneur di Indonesia saat ini masih minim dalam mengakses masyarakat yang tinggal di daerah 3T tersebut. Mencermati berbagai realita yang telah diuraikan di atas, maka melalui analisis implementasi kebijakan teknologi finansial ini, diharapkan kualitas layanan enterprenuer semakin dapat ditingkatkan dan dirasakan oleh seluruh lapisan masyarakat Indonesia secara riil dan para pelaku bisnis dapat memahami pengelolaan fungsi manajemen dengan tepat didasarkan pada sikap takut akan Tuhan dan menghargai sesama, dalam konteks pengelolaan aset internal maupun eksternal yang mencakup aktivitas bisn secara holistik. Dengan demikian, tulisan ini bertujuan untuk menganalisis secara lebih mendalam mengenai kekuatan, kelemahan, peluang, dan ancaman implementasi teknologi finansial terhadap kualitas layanan enterpreur Indonesia di era digital melalui studi literatur fintech. Kata Kunci: teknologi finansial, layanan fintach, kualitas enterpreur ABSTRACT Responding to the realization of the current digital era, the quality of service providers in Indonesia is expected to increase significantly, in order to be able to reach all levels of society, especially for people who live in area 3T (Frontier, Outermost, and Remote). However, in reality the quality of service for entrepreneurs in Indonesia is currently still minimal in accessing people living in the 3T area. Looking at the various realities outlined above, then through an analysis of the implementation of this financial technology policy, it is expected that the quality of entrepreneurial services can be increased and felt by all layers of Indonesian society in real terms and business people can understand the management of management functions appropriately based on fear of God and respect for others, in the context of managing internal and external assets that include business activities holistically. Thus, this paper aims to analyze more deeply the strengths, weaknesses, opportunities, and threats of the implementation of financial technology towards the quality of Indonesian entrepreneurial services in the digital era through the study of fintech literature. Keywords: financial technology, fintach service, enterpreur quality

Keywords
teknologi finansial, layanan fintach, kualitas enterpreur

Topic
Financial Management and Accounting

Link: https://ifory.id/abstract/rz8wMPZfhFJV

Corresponding Author
ida farida adi prawira

Institutions
Universitas Pendidikan Indonesia

Abstract
Several countries worldwide are implementing tax incentives through various policies. This study investigated implementations of tax incentives though revaluation of fixed assets in Indonesia. Using the Research and Development approach through exploration studies. This research is not designed to test hypotheses, but describes the data, facts and trends that occur, then analyzed and recommended the Fixed Assets Revaluation policy model as what must be made to improve taxpayer compliance which can then increase tax revenues. Data is obtained by interview techniques, with respondents consisting of Tax Officer, Corporate Taxpayers and Experts in the field of Asset Valuation Accounting. The results of the study aim to be used as input for the Directorate General of Taxes in making tax incentive policies in Revaluation of Fixed Assets.

Keywords
tax incentive, fixed asset revaluation

Topic
Financial Management and Accounting

Link: https://ifory.id/abstract/HUnzBZvQWGjX

Corresponding Author
Ayatulloh Michael Musyaffi

Institutions
Universitas Swadaya Gunung Jati

Abstract
Digital Learning is a learning system that uses digital learning media through digital devices so that students can learn not only in the classroom but also through computer media and smartphones. This study attempts to measure student confidence and acceptance of digital learning models that use the integration of the UTAUT model and Social Cognitive Theory. This study focuses on accounting students who use digital learning models using Google classroom in auditing, management accounting, and financial management courses. The survey was conducted using an online questionnaire distributed after the lecture has been deliv-ered. While the tool used is using the Partial Least Square (PLS) method using SmartPLS 3.0. The results of this study show a significant effect between self-efficacy and behavioral intention. The higher the confi-dence that students have towards digital learning, then they tend to continue using the media. While effort expectancy has a strong influence in making students adopt Digital Learning. The easier a person does in us-ing Digital Learning compared to traditional methods, the more students will continue to use Digital Learn-ing.

Keywords
Behavioral Intention; Digital Learning; Effort Expectancy; Self-Efficacy

Topic
Financial Management and Accounting

Link: https://ifory.id/abstract/Ne6kmdRZM4gy

Corresponding Author
Wilman San Marino

Institutions
(a) Universitas Pendidikan Indonesia
Jl. Dr Setiabudi No 229 40154 Indonesia
*wilmansanmarino[at]upi.edu
(b) Universitas Pendidikan Indonesia
Jl. Dr Setiabudi No 229 40154 Indonesia
nugraha[at]upi.edu

Abstract
Since the democratic reform era in Indonesia, many entrepreneurs have entered the world of practical politics. Entrepreneurs occupy various strategic positions in party management and even occupy positions in both the legislative and executive branches in Indonesia, so that firms emerge with political connections. This study aims to determine the factors that influence the stock return of politically connected firms and politically not connected firms in Indonesia after the reform era. The research method is explanatory research methods and using the Fama and French five-factor pricing model. The data used are secondary data originating from listed firms on the Indonesia Stock Exchange in a period of 20 years, starting from 1998 to 2018. The results of the study show that the stock returns politically connected firms are significantly affected by market risk, profitability and investment while stock returns politically unconnected firms are significantly influenced by size, value factor, profitability, investment.

Keywords
politically connected firm, stock return, Fama-French five-factor model

Topic
Financial Management and Accounting

Link: https://ifory.id/abstract/XhgPbqFGJTZW

Corresponding Author
Ayatulloh Michael Musyaffi

Institutions
Universitas Swadaya Gunung Jati

Abstract
Village Financial System (Siskeudes) is a information system that assistes village governments in report-ing financial reports transparently and accountably. On the other hand, Siskeudes cannot be optimal, moreo-ver various problems found in this system such as the delay of financial reporting and error recording. One of the factors of the problems is the incompatibility of tasks in operating the application. This study aims to analyze the causes and consequences of task mismatches by using task technology-fit model. The respondents in this research are thirty village officers who used Siskeudes from eleven villages in Cirebon. This study was analyzed using questionnaires and in-depth interviews. The method of this study used Partial Least Square (PLS) using SmartPls 3.0. Moreover, the results of this study indicated that task of technology-fit model had a significance influence on Performance Impact. Villages that had tasks that are in accordance to Siskeudes operations, in this case the finance department who had a knowledge in the financial sector) had better levels of performance. However, the task characteristics do not have a significant effect on task technology-fit because task characteristic of the government are based on the regulations and the law

Keywords
Performance Impat; Task Technology-Fit; Task Characteristic; Village Financial System

Topic
Financial Management and Accounting

Link: https://ifory.id/abstract/AJZkCgcz48wx

Corresponding Author
Tinjung Desy Nursanti

Institutions
Universitas Pendidikan Indonesia

Abstract
The purpose of this paper is to describe several things related to the notion of options, stock options, transaction mechanisms, applicable legislation based on the study of literature, the previous research, and various information from financial sites that related to the topic mentioned above. Therefore, the research questions that needs to be answered are as follows: 1. What are the developments in options markets in Indonesia? 2. What is the role of the Financial Services Authority (OJK) in developing options trading transactions related to the legal aspect in Indonesia Stock Exchange or capital market? Meanwhile, option is basically a contract between two parties that contains the right for the option buyer to buy or sell the underlying asset of the contract at the certain time and price agreed upon at the beginning of the contract. The discussion will be emphasized on the development of derivative transactions and the role of Financial Services Authority (OJK) in increasing the number of derivative transactions in Indonesia period 2004-2019 regarding the change of legal aspect.

Keywords
option market, Financial Service Authority, legal aspect, capital market

Topic
Financial Management and Accounting

Link: https://ifory.id/abstract/aZpHQP2DT8RW

Corresponding Author
Andreas Daniel

Institutions
Universitas Indonesia

Abstract
This research purpose is to examine the association between corporate governance and internal control disclosure. Corporate governance of this research consist of the proportion of independent commissioners, size of the board directors, ownership concentration, the meeting frequency of audit committee, and the quality of external auditor associated with internal control disclosure with proxy internal control disclosure index. This research is quantitative interpretive. The data were collected from annual reports of mining listed companies in Indonesia Stock Exchange. The result shows that ownership concentration and the quality of external auditor are affect internal control disclosure.

Keywords
Corporate Governance, Internal Control, Information Disclosure, Indonesia

Topic
Financial Management and Accounting

Link: https://ifory.id/abstract/uwzaEU84PmDy

Corresponding Author
Agus Rahayu

Institutions
Universitas Pendidikan Indonesia

Abstract
This study aims to analyze the effect of EPS, DER and underwriter reputation on initial returns which is moderated by the interest rate on IPO issuers. Statistical data analysis is logit regression analysis. The results showed that EPS, DER, and underwriter reputation which were moderated by the interest rates had significant influenced on the initial return. On the testing of hypothesis of each variable showed that DER and underwriter reputation influenced on the initial return significantly. On the contrary, EPS and interest rate had an effect on initial returns significantly. The DER and underwriter reputation which are moderated by the interest rate (SB) indicated that the DER*SB and the reputation of the Underwriter*SB had no a significant effect on the initial return,. As for the variable EPS*SB indicated that it had a significant effect on the initial return. This means that the EPS had an effect on the initial return with the interest rate strengthening the relationship between EPS and initial return.

Keywords
IPO, DER, EPS, Underwriter Reputation, Initial Return, Interest Rate

Topic
Financial Management and Accounting

Link: https://ifory.id/abstract/KRzH4cE96eVw

Corresponding Author
Yayan Cahyana

Institutions
a). Universitas Pendidikan Indonesia
JL. Dr. Setiabudi No. 229 Bandung 40154
yanch1966[at]upi.edu

b). Universitas Pendidikan Indonesia
JL. Dr. Setiabudi No. 229 Bandung 40154
memen.kustiawan[at]upi.edu

c). Universitas Pendidikan Indonesia
JL. Dr. Setiabudi No. 229 Bandung 40154
ikin.solikin[at]upi.edu

Abstract
Diversification can reduce risk, but there is no consensus on how many securities are needed to achieve maximum diversification. Studies conducted on different capital markets have produced different results. This study aims to determine the effect of diversification on portfolio risk. Specifically to determine the size of the optimal portfolio or diversified portfolio and to know the effect of the amount of assets in the portfolio on portfolio risk on the Indonesia Stock Exchange. This study uses an optimization model of variance and portfolio risk is a function of the number of shares held in the portfolio. The data used is the secondary data consisting of monthly stock returns for 10 years from January 2008 to December 2018. This study uses stocks listed on the LQ45 Index and has complete information about monthly returns. Portfolios of various sizes are formed from randomly selected LQ45 stocks. This study found that portfolio risk was reduced when the number of securities in the portfolio increased and there was a significant relationship between diversification and risk of the portfolio on the Indonesia Stock Exchange.

Keywords
Diversification, portfolio, risk, return, stoc, indonesia stock exchange

Topic
Financial Management and Accounting

Link: https://ifory.id/abstract/TjaLtWRVgeYf

Corresponding Author
Ari Agung Nugroho

Institutions
Universitas Pendidikan Indonesia ; Universitas Pendidikan Indonesia ; STIA LAN Jakarta ; Universitas Pendidikan Indonesia

Abstract
Financial performance is a analysis to find out the condition of a company based on its annual financial statement and can be taken note of by making use of financial ratio analysis. The author use Earning per Share, Return on Assets, and Operating Profit Margin to know the financial performance. This study aimed to analyze the influence of the financial performance of the stock price on PT Timah Tbk in Indonesia Stock Exchange period 2010- 2018. Independent variables was used in this study is financial performance, consist of Return on Assets (ROA), Price Earning Ratio (PER), Operating Profit Margin (OPM) and Dividend Payout Ratio (DPR). The dependent variable is the stock price and the sample in this study consist data in PT Timah Tbk in Indonesia Stock Exchange in the study period 2010-2018. Analysis of the data used in this study is a multiple linear regression analysis (t-test and f test) were processed with SPSS. From the multiple regression models were used in this study, the results of the partial test (t test) showed that variables ROA, OPM and PER have significantly positive effect on stock prices. Whereas DPR had no significant effect on stock prices. While simultaneously (f test) showed that the ROA, PER and DPR simultaneously influence on stock prices.

Keywords
Financial performance, Return on Assets (ROA), Price Earning Ratio (PER), Dividend Payout Ratio (DPR), stock price, Operating Profit Margin

Topic
Financial Management and Accounting

Link: https://ifory.id/abstract/hgz6yeqNx2Um

Corresponding Author
Ahmad Fuad

Institutions
Universitas Pendidikan Indonesia

Abstract
This paper analyzes the effect of macroeconomic indicators, including Gross Domestic Product (GDP), inflation, Bank Indonesia interest rates (BI rates), Jakartas composite stock index, exchange rates and crude oil prices) on the performance of commercial banks in Indonesia. We use the Vector Error Correction Model (VECM) on monthly banking data from 2012-2018 and obtain several research findings. First, the impulse response function shows the greatest response to the banks efficiency performance which is proxied by the BOPO ratio due to the influence of shocks in the macro economy; The author believes the volatility of this bank efficiency indicator represents the inefficiency of commercial banks in Indonesia. Second, based on the analysis of variance decomposition, ROA and NPL provide the weakest response to macroeconomic shocks. Third, the author believe the application of Bank Indonesia interest rates as an effective monetary instrument according to result of study that Bank Indonesias interest rate shocks generally provide the biggest response from most bank performance indicators.

Keywords
Gross Domestic Product (GDP), BOPO, Impulse Response Function, Vector Error Correction Model (VECM)

Topic
Financial Management and Accounting

Link: https://ifory.id/abstract/WMK4EyUktDZR

Corresponding Author
Taufan Bahtera

Institutions
Department of Accounting, Universitas Indonesia, UI Campus, 16424, Depok, Indonesia

Abstract
This study aims to investigate how the ability of the managers affect their tendency to perform earnings management on public companies in Indonesia. We measure managerial ability using efficiency model with Data Envelopment Analysis. Using 1332 observations, this study finds that managerial ability positively affects earnings management. We also find that the earnings management does not contribute to company-s market-based performance on the subsequent year. To an extent, this shows that even though skillful managers use their skills to manage the company-s earnings with accrual management, the effort is merely just a noise for the market-based value of the company.

Keywords
Managerial Ability, DEA, Earnings Management

Topic
Financial Management and Accounting

Link: https://ifory.id/abstract/9NeH2bd6LhGZ