Ilomata International Journal of Tax and Accounting
Ilomata International Journal of Tax and Accounting, with ISSN: 2714-9846 (Online) and 2714-9838 (Print), is an international, peer-reviewed, open-access scholarly journal published by Yayasan Sinergi Kawula Muda, a legally established non-profit foundation registered under Decree No. AHU-0003890.AH.01.04.Tahun 2023. The journal is dedicated to publishing high-quality research that advances knowledge and practice in taxation, accounting, finance, and tax law at both national and international levels. The journal provides a platform for academics, researchers, policymakers, tax professionals, accountants, auditors, financial analysts, and legal practitioners to disseminate original research articles, review articles, conceptual papers, and case studies. Through rigorous peer-review and adherence to international publication ethics, the journal promotes academic excellence, research integrity, and evidence-based policymaking in fiscal and financial disciplines. Published quarterly, the journal serves as a global forum for scholarly discussions on taxation systems, financial reporting, auditing, corporate governance, public finance, fiscal policy, regulatory compliance, and emerging issues in tax and accounting practices. The journal particularly encourages interdisciplinary studies integrating perspectives from economics, law, management, public administration, and financial studies. As an accredited journal in the Science and Technology Index (SINTA 2), the journal is indexed and abstracted in several reputable databases, including GARUDA, Google Scholar, Crossref, Dimensions, and Scilit. The journal has also established a growing international visibility through citations and publications indexed in the Scopus database. With a strong commitment to open-access principles, all published articles are freely accessible to readers worldwide, supporting the dissemination of knowledge, academic collaboration, and the advancement of research in taxation and accounting. The journal welcomes contributions that provide theoretical insights, empirical evidence, comparative analyses, doctrinal legal research, and policy recommendations relevant to contemporary fiscal and financial challenges. For more information regarding manuscript submission, publication ethics, peer-review procedures, and editorial policies, please visit the journal website: https://www.ilomata.org/index.php/ijtc . The journal welcomes original research articles, review articles, conceptual papers, and case studies related to taxation, accounting, finance, banking and tax law. The scope of the journal includes, but is not limited to, the following areas: Taxation and Fiscal Policy Tax Law and Tax Administration International Taxation Corporate Taxation Public Finance Government Accounting Financial Accounting Management Accounting Banking Auditing and Assurance Corporate Governance Financial Reporting and Disclosure Accounting Information Systems Forensic Accounting Financial Management Corporate Finance Behavioral Finance Investment and Capital Markets Financial Regulation and Compliance ESG Reporting and Sustainability Accounting Digital Taxation and Financial Technology (FinTech) Public Sector Accountability Comparative Tax and Accounting Studies The journal particularly encourages interdisciplinary research that integrates taxation, accounting, finance, law, economics, public administration, and business perspectives. Studies addressing contemporary challenges in fiscal governance, financial transparency, regulatory compliance, sustainability, and digital transformation are highly encouraged. Please read further explanations of our focus and scope. ```
This work is licensed under a Creative Commons Attribution 4.0 International License.
Profitability and Firm Value in the Perspective of Signaling Theory and Stakeholder Theory: The Moderating Role of Sustainability Reporting
The increase in profitability does not automatically lead to a higher firm value, indicating that other supporting factors may influence this relationship. One factor frequently associated with strengthening this linkage is sustainability reporting, which reflects a company’s commitment to transparency and responsibility toward its stakeholders. Accordingly, this research investigates how profitability affects firm value and examines whether sustainability reporting moderates this relationship in plantation companies listed on the Indonesia Stock Exchange during the 2021–2023 period. This study differs from prior research in mining or other ESG-sensitive sectors by addressing the unique land-use legitimacy challenges of the plantation industry, where a conditional moderation model is theoretically essential to explain how sustainability disclosure reconfigures the interpretation of financial signals. This research applies a quantitative research design with a causal approach. The population includes 24 plantation sector companies, from which 11 firms that consistently publish sustainability reports were selected using a purposive sampling technique. The data analysis was conducted through classical assumption testing followed by Moderated Regression Analysis (MRA). The findings reveal that profitability and sustainability reporting individually exhibit negative and significant effects on firm value. However, the interaction term shows a positive and significant coefficient, indicating a conditional moderating effect. This suggests that sustainability reporting strengthens the influence of profitability under certain conditions rather than directly increasing firm value. Unlike previous studies that focus solely on the linear relationship between profitability and firm value, this research examines the specific nuances of ESG-sensitive industries through a moderation lens.
Copyright (c) 2026 Revi Candra, Nurul Nazifah, Gampito, Elfadhli, Fatimah Setia Wardani https://creativecommons.org/licenses/by/4.0
GRI 301-306 Environmental Disclosures and SDG Reporting Quality among Indonesian Property Companies
This study investigates how corporate social responsibility (CSR) disclosure contributes to the environmental dimension of the Sustainable Development Goals (SDGs). The analysis uses a quantitative design and relies on secondary data obtained from the Indonesia Stock Exchange, company websites, annual reports, and sustainability reports. The sample consists of 82 property companies listed during the 2020–2024 period, resulting in 410 firm-year observations. Panel data regression analysis is applied to evaluate the relationship between environmental CSR disclosure and SDG reporting quality. The findings indicate that environmental disclosures influence SDG reporting quality differently. Energy disclosure and water disclosure have positive and statistically significant effects, with water disclosure showing the strongest effect. Material disclosure has a negative and statistically significant relationship with SDG reporting quality. In contrast, biodiversity, emissions, and waste disclosures do not show statistically significant effects. Overall, these findings suggest that SDG reporting quality in Indonesian property companies is more closely associated with substantive and measurable environmental practices related to energy efficiency and water management. The results also confirm that environmental CSR disclosure should not be treated as a single aggregate construct, because each GRI 301–306 dimension has different explanatory power in relation to SDG reporting quality.
Copyright (c) 2026 Riani Sukma Wijaya, Sharul Effendi Bin Janudin, Nor Hanani Binti Ahamad Rapani https://creativecommons.org/licenses/by/4.0
Understanding Individual Tax Compliance in Indonesia: Evidence from a Qualitative Survey Using Thematic Analysis of Taxpayer Perceptions
This study examines individual taxpayer compliance within the context of Indonesia’s heterogeneous tax system, where low compliance remains a persistent challenge in optimizing state revenue. Addressing the limited use of qualitative, perception-based approaches in prior tax compliance research, this study extends existing multi-factor frameworks by offering a qualitative and integrative perspective on how cognitive, administrative, and psychological factors interact in shaping taxpayer behavior. A qualitative survey design was employed using a single open-ended question asking respondents to explain the main factors influencing individual tax compliance. Data were collected through an online questionnaire distributed to individual taxpayers from diverse professional backgrounds using purposive sampling. A total of 304 responses were obtained, of which 284 valid responses were analyzed. The data were processed using thematic analysis supported by NVivo to identify key patterns and themes derived from respondents’ narratives. The findings indicate that tax awareness and tax knowledge emerge as the most prominent themes associated with compliance behavior, followed by administrative factors, perceived benefits, and trust in government, while social influence and sanctions appear less significant. These results suggest that taxpayer compliance is more closely associated with internal motivations and system-related experiences than with external pressures. The relatively open-ended nature of responses provides contextual insights into how taxpayers interpret their obligations and the tax system. This study highlights the importance of strengthening targeted tax education, simplifying digital tax services, enhancing transparent communication of tax benefits, and reinforcing trust in government as key strategies to improve taxpayer compliance in Indonesia.
Copyright (c) 2026 Primandita Fitriandi, Supriyadi, Nur Farida Liyana, Agus Puji Priyono https://creativecommons.org/licenses/by/4.0
ESG, Profitability and Leverage on Tax Aggressiveness: The Moderating Role of Firm Size in IDX-Listed Firms, 2020-2024
This research examines the effect of ESG, profitability, and leverage on tax aggressiveness, measured by the Cash Effective Tax Rate (CETR) with firm size as a moderating variable. The analysis focuses on firms listed on the Indonesia Stock Exchange from 2020-2024 period. Since the regression model uses CETR directly as a dependent variable, a lower CETR value indicates higher tax aggressiveness, while a higher CETR value indicates lower tax aggressiveness. Therefore, a negative regression coefficient is interpreted as an increase in tax aggressiveness, whereas a positive coefficient indicates a decrease in tax aggressiveness. A quantitative approach was employed using panel data regression and Moderated Regression Analysis (MRA). This study sample consisted of 41 companies selected via purposive sampling, resulting in 205 observations. The results show that ESG and profitability did not show a significant effect on tax aggressiveness. However, the study found that leverage has a statistically significant impact on tax aggressiveness. Furthermore, firm size weakness the effect of leverage on tax aggressiveness, thereby moderating the relationship between leverage and tax aggressiveness. In contrast, firm size does not exert a significant moderating effect on the relationships between ESG and tax aggressiveness, nor between profitability and tax aggressiveness. Although ESG performance and profitability do not significantly explain corporate tax aggressiveness during the study period, the findings indicate that debt policy remains the primary determinant of corporate tax aggressiveness.
Copyright (c) 2026 Nabila Faiza Hakim, Kurnia https://creativecommons.org/licenses/by/4.0
A Systems Thinking for Hotel Tax Optimization: Evidence from Tourism Dynamics in Garut Regency
The growth of the tourism sector does not necessarily translate into stronger local fiscal performance. In Kabupaten Garut, hotel tax revenue, despite its close relationship with tourism activities, has not fully reflected its potential contribution to local own-source revenue (PAD). This study aims to analyze hotel tax revenue performance based on effectiveness, growth stability, and contribution to local tax revenue, while identifying strategies to optimize revenue through potential-based target setting, digital monitoring systems, and the integration of tourism and fiscal policies. In this study, optimization refers to improving target accuracy, taxpayer compliance, and sustainable revenue growth. A mixed-methods approach was employed by combining quantitative descriptive analysis with systems thinking. Quantitative analysis measured effectiveness ratios, annual growth rates, and contribution levels using secondary data for the 2015–2022 period. Qualitative data were obtained through semi-structured interviews with officials from the Regional Revenue Agency (BAPENDA) and hotel taxpayers to identify structural constraints and construct a causal loop diagram. The findings indicate that effectiveness ratios exceeded 100% in most years, except in 2017 (90%), demonstrating generally effective tax collection. However, revenue growth remained highly volatile, ranging from –31.52% in 2020 to 52.06% in 2022. Hotel tax contributed an average of 6.72% to total local tax revenue, indicating a moderate fiscal role despite tourism expansion. Institutional capacity limitations, uneven digital system implementation, and taxpayer compliance challenges remain key barriers. The study concludes that sustainable hotel tax optimization requires potential-based target setting, integrated digital monitoring, and stronger coordination between tourism development and local fiscal policy.
Copyright (c) 2026 Muslim Alkautsar, Tinneke Hermina, Hanifah Hanifah, Marizsa Herlina, Hanifah Fauziah https://creativecommons.org/licenses/by/4.0
Financial Capital and MSME Going Concern in Banjarmasin: The Mediating Role of Business Mentoring
Micro, Small, and Medium Enterprises (MSMEs) play a vital role in emerging economies, yet their sustainability is frequently constrained by limited capital access and inadequate business support. While prior studies have examined these factors separately, empirical evidence on how business mentoring mediates the relationship between capital loans and MSME going concern remains limited. This study addresses that gap by examining the direct and indirect effects of capital loans and business mentoring on MSME sustainability in Banjarmasin, Indonesia. A quantitative associative causal design was employed, with survey data collected from 92 KUR participants selected through purposive sampling. PLS-SEM was selected given the exploratory model structure, small sample size, and the need to assess measurement and structural relationships simultaneously. Findings indicate that capital loans exert a positive and significant effect on going concern (path coefficient = 0.679; p < 0.05), explaining 45.3% of its variance alongside mentoring. In contrast, business mentoring shows no significant direct or mediating effect, with a low mean score of 2.70 suggesting limited program intensity across the sample. These results are bounded to the Banjarmasin context and do not support broader causal generalizations. They nonetheless highlight the need for more structured and context-responsive mentoring programs integrated with existing capital support schemes.
Copyright (c) 2026 Hikmahwati Hikmahwati, Noor Romy Rahwani, Muhammad Ali Watoni, Mark Gabriel Wagan Aguilar https://creativecommons.org/licenses/by/4.0
Green Accounting Policy and Green Fiscal Policy on Regional Revenues in Supporting Sustainable Mangrove Ecosystems Mangrove Ecosystem Conservation in Jayapura, Papua
The important issue of mangrove conservation is an element of sustainable development, presenting new opportunities for coastal protection, carbon sequestration, and sustainable improvement of community welfare. Green accounting and green fiscal policy influence regional revenue in mangrove conservation. This study uses a quantitative approach with panel data regression on 229 observations taken from regional regulations, budget realization, and development planning documents for the 2017–2025 period at the regional government level, which is still limited, especially in Papua and Jayapura. The results of the panel data regression study indicate that green accounting has a positive and significant impact on regional revenue. These findings demonstrate the relationship between public sector accounting and environmental policies for regional governments to design environmentally based fiscal policies. This study is designed to develop an empirical model integrating green accounting, green fiscal policy, regional revenue, and mangrove conservation in the context of the Papua/Jayapura regional government. Unlike previous studies that focused on the general environmental corporate sector, this study shows how accounting instruments and regional fiscal policies can support mangrove conservation and improve regional fiscal performance. These findings contribute to the literature on how the implementation of green accounting and regional revenue can improve transparency and mangrove forest rehabilitation. The integration of regional financial systems strengthens policy sustainability for stakeholders. This study has limitations in developing fiscal policies with measurable environmental benefits and coastal ecosystem sustainability. Overall, this study shows that successful mangrove forest conservation requires synergy between environmental accounting systems and regional fiscal commitments.
Copyright (c) 2026 Otniel Safkaur, Aaron Asi Maruli Simanjuntak, Orpa Momot https://creativecommons.org/licenses/by/4.0
ESG Disclosure Component and Firm Performance in PROPER-Rated Indonesian Listed Firms: Evidence from ROA and Tobin’s Q
Stakeholder demand for ESG disclosure has increased the need to examine whether sustainability-related information is associated with firm performance, particularly in emerging markets where prior findings remain mixed. Many previous studies treat ESG disclosure as an aggregate measure, leaving limited evidence on how environmental, social, and governance components are separately related to different performance outcomes. This study addresses this gap by examining component-level ESG disclosure among PROPER-rated Indonesian listed companies and comparing its association with accounting-based performance, measured by return on assets (ROA), and market-based performance, measured by Tobin’s Q. This study uses a quantitative approach with multiple linear regression/pooled OLS on data from Indonesian listed companies receiving PROPER ratings during 2021–2023. Using purposive sampling, the final sample consists of 26 companies and 78 firm-year observations. The results show that ESG disclosure components are associated differently with ROA and Tobin’s Q. For ROA, Environmental Score (E Score) and Social Score (S Score) are not statistically significant, while Governance Score (G Score) is positively significant. For Tobin’s Q, E Score, S Score, and G Score are statistically significant but E Score has negatively associated with Tobin’s Q. E Score shows a negative direction in both performance models, which may reflect additional compliance, reporting, monitoring, and environmental investment costs associated with environmental disclosure. In contrast, G Score is positively significant across both ROA and Tobin’s Q, indicating that governance disclosure is consistently associated with stronger firm performance. This study contributes to ESG literature by providing component-level evidence from PROPER-rated Indonesian listed firms and by distinguishing between accounting-based and market-based performance measures.
Copyright (c) 2026 Patricia Diana, Rosita Suryaningsih, John CG Lee https://creativecommons.org/licenses/by/4.0
Determinants of Tax Revenue: The Mediating Role of Taxpayer Compliance in the Context of Indonesian Tax Offices
Tax revenue at KPP Pratama Serang Barat has fluctuated in recent years and has not consistently reached the expected target. One of the factors causing this condition is the low level of compliance of taxpayers in fulfilling tax obligations, thus hindering the optimization of tax revenue. Therefore, this study aims to examine the effects of tax literacy, tax administration system, tax information technology on tax revenue with taxpayer compliance as a mediation variable. The role of taxpayer compliance mediation is used to explain how these factors affect tax revenue through taxpayer behavior and compliance. The study used a quantitative approach primary data through questionnaires. The population is an individual taxpayer registered at the KPP Pratama Serang Barat. The sampling technique used incidental sampling involving 100 respondents. The data analysis method uses PLS. The results show that the administrative system, information technology have a positive and significant effect on taxpayer compliance, whereas tax literacy has no effect on taxpayer compliance. The mediation effect test show that taxpayer compliance can strengthen the influence of administrative systems and information technology on tax revenue. However, taxpayer compliance cannot strengthen the influence of tax literacy on tax revenue. The research has implications for strengthening the administrative system, the use of information technology which is a strategic factor in increasing taxpayer compliance and tax revenue. Tax authorities must optimize the modernization of the tax system, expand education programs, and socialize tax literacy to increase tax awareness and compliance in a sustainable manner.
Copyright (c) 2026 Rida Ristiyana, Muti Dewi Junika, Erwindiawan https://creativecommons.org/licenses/by/4.0
Artificial Intelligence-Assisted Financial Statement Analysis and Tax Risk Assessment: Evidence from a Quasi-Experimental Study
The increasing complexity of accounting–tax differences and risk-based tax administration has strengthened the need for more structured approaches to tax risk assessment. Financial statement analysis is widely used to identify potential tax risk signals; however, manual interpretation often produces inconsistent outcomes because financial indicators are highly interconnected and difficult to evaluate systematically. This study examines whether financial statement indicators can identify potential tax risk and whether Artificial Intelligence-assisted analysis improves the quality of tax risk identification compared with manual analysis. Using a quasi-experimental design with a difference-in-differences approach, this study evaluated the analytical performance of 130 Diploma III Tax students analyzing the financial statements of 25 Indonesian publicly listed companies during 2020–2024 through manual and Artificial Intelligence-assisted stages. Tax risk identification performance was assessed using a standardized score based on effective tax rate, book-tax differences, profitability ratios, and cash flow gaps. The findings indicate that Artificial Intelligence-assisted analysis was associated with more consistent, structured, and efficient interpretation of financial statements compared with manual analysis. This study contributes to tax accounting literature by integrating Artificial Intelligence-assisted financial statement analysis into a structured tax risk assessment framework.
Copyright (c) 2026 Supriyadi Sukarno, Arief Budi Wardana, I Gede Komang Chahya Bayu Anta Kusuma, Nasikhudin https://creativecommons.org/licenses/by/4.0
Revisiting the Relationship Between Financial Performance, ESG, and Firm Value: Evidence from Indonesian Non-Financial Listed Firms
Environmental, social, and governance (ESG) performance has received growing attention from investors, regulators, and corporate managers as sustainability considerations become increasingly integrated into business decision-making. However, evidence regarding the relationship between ESG performance and firm value remains inconclusive, particularly in emerging markets. Moreover, previous studies have typically examined financial performance and ESG performance separately or focused exclusively on either aggregate ESG scores or individual ESG dimensions, limiting a comprehensive understanding of their relative importance in explaining firm value. This study investigates the influence of profitability, liquidity, solvency, firm growth, aggregate ESG performance, and the environmental, social, and governance dimensions on the firm value of Indonesian non-financial listed companies. Using panel data from 69 firms listed on the Indonesia Stock Exchange during 2022–2024, comprising 207 firm-year observations, the study employs a Random Effect Model with robust standard errors. Firm value is measured using the natural logarithm of share price (LnMV), while ESG data are obtained from Refinitiv. The results indicate that sales growth, as a proxy for firm growth, is the only variable positively and significantly associated with firm value. In contrast, profitability, liquidity, solvency, aggregate ESG performance, and the individual ESG dimensions do not exhibit statistically significant relationships with firm value. These findings suggest that investors place greater emphasis on firms’ growth prospects than on conventional financial indicators or ESG-related information when valuing Indonesian non-financial firms. The study contributes to the literature by providing recent evidence from an emerging-market context and by simultaneously evaluating financial performance, aggregate ESG performance, and individual ESG dimensions within a unified empirical framework.
Copyright (c) 2026 Agung Dinarjito, Zef Arfiansyah, Sandi Setiadi https://creativecommons.org/licenses/by/4.0
Hybrid Fraud Detection for Government Financial Transactions Using Deep Isolation Forest and Extreme Gradient Boosting: A Case Study from an Indonesian Government Institution
Ensuring fraud-free financial management through the investigation of anomalous transactions is essential for promoting transparency and integrity in government institutions. However, existing approaches often treat anomaly detection and fraud classification as separate tasks and frequently assume that all anomalies indicate fraud. This study proposes a two-stage computational fraud detection framework that integrates Deep Isolation Forest (DIF) for anomaly detection and Extreme Gradient Boosting (XGBoost) for fraud classification, with an intermediate expert validation process. The framework was applied to a dataset of 9,166 expenditure transactions from an Indonesian government institution, consisting of 894 fraudulent and 8,272 non-fraudulent records. First, DIF identifies transactions with anomalous patterns. Subsequently, three certified internal auditors with more than ten years of experience at the Ministry of Finance review the detected anomalies to determine whether they genuinely indicate fraud. The validated results are then incorporated into an enriched dataset combining original transaction attributes and anomaly-derived features, which is used to train the XGBoost classifier. Expert judgement functions as a validation mechanism that improves label reliability and reduces the risk of misclassifying anomalies as fraud. Evaluation on a held-out test set of 1,834 transactions demonstrates strong predictive performance, achieving an accuracy of 0.9984, precision of 0.98, recall of 1.00, and an F1-score of 0.99. Although the findings are limited to a single institutional environment and require validation across multiple government agencies, the proposed framework demonstrates that integrating expert interpretation between anomaly detection and fraud classification enhances fraud identification and provides a practical, auditor-aligned approach to public-sector financial oversight.
Ni Komang Yossy Trisna Sukawati Sukawati
Copyright (c) 2026 Ni Komang Yossy Trisna Sukawati Sukawati, Rojali https://creativecommons.org/licenses/by/4.0
The Continuity Of ASEAN-6 Capital Market Integration Evaluation: The VECM and Granger Causality Approach
This study examines the co-integration relationships among stock indices in the Association of Southeast Asian Nations (ASEAN), with attention to potential changes in market dynamics following the implementation of the ASEAN Economic Community (AEC) in 2015. Rather than formally testing for structural breaks, this research employs a two-period comparative framework to assess differences in long-run equilibrium and short-run dynamics before and after the AEC. Using weekly composite stock price indices from six ASEAN countries (Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam), the analysis is divided into two periods: pre-AEC (2011–2016) and post-AEC (2017–2024). The study applies a Vector Error Correction Model (VECM), threshold cointegration tests, and Granger causality analysis to capture both symmetric and asymmetric adjustments as well as directional relationships. The results indicate that co-integration persists among five markets, excluding Vietnam, with asymmetric short-run adjustments and symmetric long-run convergence. Furthermore, the post-AEC period shows a stronger and more extensive pattern of bidirectional causal linkages, suggesting an increase in financial integration across the region. Overall, the findings suggest that the period following the AEC is associated with stronger regional financial interconnectedness, rather than providing definitive evidence of a structural break. This study underscores the relevance of regional policy initiatives in shaping capital market dynamics and offers insights into how economic integration may be reflected in financial market relationships.
Copyright (c) 2026 Harry Budintoro, Hendryadi, Syahrul Effendi, Faris Faruqi https://creativecommons.org/licenses/by/4.0
Regional Fiscal Policy and Provincial Fiscal Performance in Indonesia: The Dual Moderating Role of Fiscal Decentralization
Fiscal decentralization has been widely implemented to improve regional fiscal efficiency and strengthen local fiscal capacity. However, empirical evidence regarding its effectiveness remains inconclusive, particularly in developing countries with diverse institutional capacities. This study examines the associations between regional fiscal policy instruments and provincial fiscal performance in Indonesia, proxied by the growth of Locally Generated Revenue (PAD), while investigating the moderating role of fiscal decentralization. Unlike previous studies that examine fiscal instruments separately or focus mainly on macroeconomic outcomes, this research develops an integrated framework that evaluates financing allocation, development expenditure, transfer funds, and other legitimate revenues within a moderated panel-data model. Using panel data from 33 provincial governments during 2017–2024, the study applies a fixed-effects regression model with interaction terms. The results show that development expenditure is positively and significantly associated with provincial fiscal performance, indicating that productive public spending strengthens regional fiscal capacity. In contrast, financing allocation and transfer funds show no significant direct associations with fiscal performance. Other legitimate revenues demonstrate a positive but limited association. Fiscal decentralization plays a dual moderating role by strengthening the association between transfer funds and fiscal performance while weakening the effects of development expenditure and other legitimate revenues. These findings suggest that the effectiveness of fiscal decentralization depends on fiscal instruments and local institutional capacity rather than producing uniform outcomes. This study contributes to the fiscal decentralization literature by providing an interaction-based empirical framework and practical evidence to support more effective decentralization policies and improve provincial fiscal performance in Indonesia.
Copyright (c) 2026 Niko Silitonga, Harya Widiputra, Fangky Antoneus Sorongan https://creativecommons.org/licenses/by/4.0
Cloud Accounting, Artificial Intelligence, and Machine Learning in Digital Financial Applications: Implications for MSME Accounting Information in South Sumatra
Many MSMEs still do not understand the use of digital financial applications as a widespread issue and require optimal implementation of features available in artificial intelligence and machine learning to become drivers of accounting practices. Referring to the Technology Acceptance Model (TAM) theory, how someone accepts and uses information technology is influenced by two main factors, namely Perceived Usefulness, namely the belief that the use of technology will improve performance, productivity, effectiveness, and work results, second, perceived ease of use, namely the belief that technology can be used easily without requiring great effort, this requires cloud-based accounting to strengthen digital payments. This study was designed using Partial Least Squares Structural Equation Modeling (PLS-SEM). The empirical results of this study confirm that Cloud accounting has an impact of (β = 0.42) on digital financial applications, followed by Artificial Intelligence (β = 0.35) and Machine Learning (β = 0.28). Digital financial applications have a positive and significant impact on accounting information quality (β = 0.28). This suggests that digital financial applications can improve perceived usefulness and ease of use through automated transaction recording, real-time financial analysis, and fast and accurate financial reporting. These findings demonstrate that technology investment relies heavily on employee understanding and skills to improve organizational performance and enhance collaboration between users. This study has limitations due to its dynamic nature, which follows the development of digital financial applications, which are subject to change along with technological innovation, feature updates, and changes in user behavior, as well as the ability to predict future financial analysis.
Copyright (c) 2026 Lesi Hartati, Haryono Umar, Lilis Puspitawati, Raja Haydar Alibi https://creativecommons.org/licenses/by/4.0
Pentagon Fraud and Financial Statement Fraud in State-Owned Enterprises Listed on the Indonesia Stock Exchange During 2021–2025: The Moderating Role of the Audit Committee
This study seeks to examine the impact of the Fraud Pentagon factors pressure, opportunity, rationalization, competence, and arrogance on financial statement fraud within Indonesian State-Owned Enterprises (SOEs), while also investigating the moderating influence of the audit committee on this relationship. The research used a quantitative methodology, analyzing panel data from 16 state owned enterprises listed on the IDX from 2021 to 2025, yielding 80 balanced panel observations. Panel regression analysis was performed, using the FEM as determined by the Chow and Hausman tests. Financial statement fraud was assessed using the F-Score model, while the audit committee was evaluated as a moderating variable via MRA. The findings indicate that pressure, opportunity, and arrogance positively and significantly influence financial statement fraud, whereas rationalization and competence do not. Regarding the moderating role of the audit committee, the results show that the audit committee significantly weakens the relationship between opportunity and financial statement fraud at the 5 percent significance level. Meanwhile, the moderating effects on the relationships between pressure and financial statement fraud and between arrogance and financial statement fraud are only marginally significant at the 10 percent significance level. No significant moderating effects were found for rationalization and competence. This study contributes to the development of Fraud Pentagon Theory and Agency Theory by emphasizing the importance of monitoring effectiveness in preventing fraudulent financial reporting in SOEs.
Copyright (c) 2026 Hidayat Darwis, Supriatiningsih, Samukri https://creativecommons.org/licenses/by/4.0
The Impact of Land and Building Tax on the Regional Economy (Regencies and Municipalities) in Indonesia using Panel Data Regression
Land and Building Tax (PBB-P2) is a major source of Regional Original Revenue (PAD) in the era of fiscal decentralization. As a tax imposed on the ownership or use of land and buildings, PBB-P2 has significant potential to support sustainable regional development financing. However, excessively high tax burdens or poor tax governance can discourage investors from investing in a region. This study aims to analyze the effect of PBB-P2 on the economic growth of districts/cities in Indonesia by including regional investment, the number of productive workers, and local government capital expenditure as additional explanatory variables. A quantitative approach was used using a panel data regression model, along with simultaneous and partial tests for each independent variable. The results show that simultaneously, PBB-P2, regional investment, productive workers, and government capital expenditure have a significant effect on regional economic growth. However, partially, only investment has a positive and significant effect on economic growth. PBB-P2 has a positive but insignificant effect, indicating that its role is more as a source of basic fiscal revenue than as a direct instrument for driving growth. This finding underscores the importance of improving human resource quality, capital expenditure effectiveness, and strengthening regional fiscal governance so that tax revenues, including PBB-P2, can be optimized as an instrument of inclusive and sustainable economic development. This research provides policy implications that increasing regional economic growth is not sufficient by simply increasing tax revenues, it also requires more productive and efficient investment, labor, and public spending management strategies.
Copyright (c) 2026 Nur Farida Liyana, Heni Sulastri, Khusnaini, Ida Zuraida https://creativecommons.org/licenses/by/4.0
A Bibliometric Analysis of Research Trends on Blockchain in Finance: Insights into Transparency, Security, and Collaboration Networks
Introduction: Blockchain technology has emerged as a transformative innovation in the financial sector by enhancing transparency, security, and operational efficiency. As academic interest in blockchain applications continues to grow, understanding the development, structure, and direction of research in this field has become increasingly important. Novelty: Although previous studies have examined blockchain broadly, limited research has specifically mapped the intellectual structure, thematic evolution, and collaboration patterns of blockchain research in finance, particularly regarding transparency and security. To address this gap, the present study provides a comprehensive bibliometric mapping of blockchain research in finance from the perspectives of transparency and security. Methods: This study applies a bibliometric analysis approach to 256 Scopus-indexed publications related to blockchain in finance. Data were analyzed using the Bibliometrix package in R to examine annual scientific production, keyword co-occurrence, thematic development, historiographic structure, and collaboration networks among authors, institutions, and countries. Results: The findings reveal a significant increase in blockchain-related publications, particularly after 2021, indicating growing scholarly attention. Major research themes include blockchain foundations, security and privacy, decentralized finance, regulation, and cross-sector applications. The analysis also demonstrates increasingly interconnected global collaboration networks led by several productive countries. Conclusion: Overall, the findings indicate that blockchain has become an increasingly prominent research domain within financial studies. This study contributes by providing a comprehensive mapping of research trends and offering insights for future studies and policy development related to transparency and security in digital financial systems.
Copyright (c) 2026 Yohanna Thresia Nainggolan, Bella Lisa Permatasari, Muh. Irfandy Azis, Irawati HM, Ferica Christinawati Putri https://creativecommons.org/licenses/by/4.0
The Effects of Digital Information Technology, Digital Marketing and Human Resource Capacity on Smes Performance in North Sumatera
This study investigates the effects of digital information technology, digital marketing, and human resource capacity on SME performance in North Sumatera. Although numerous prior studies have examined these variables separately, a significant gap persists regarding their synergistic effects, especially among SMEs in developing regions. To address this gap, the present study developed an integrated model using an explanatory research design. Data were collected through a survey of 232 SMEs that actively adopt digital technology in North Sumatra Province, representing a targeted sample of digitally active small and medium enterprises in a developing region. The data were analyzed using Structural Equation Modelling–Partial Least Squares (SEM-PLS) due to its suitability for examining complex relationships in a predictive, non parametric manner with relatively small sample sizes. The results indicate that all three variables exert positive and significant effects on SME performance, with digital marketing emerging as the strongest predictor. These findings underscore the importance of resource integration in enhancing SME competitiveness in emerging economies.
Copyright (c) 2026 Noviani, Erlina, Iskandar Muda, Keulana Erwin, Agung Wahyudhi Atmanegara https://creativecommons.org/licenses/by/4.0
The Effects of Green Accounting Disclosure, Eco-Efficiency, and Sales Growth on Firm Value: Evidence from IDX Energy Companies, 2020–2024
Indonesia's energy sector faces growing pressure to align financial performance with environmental sustainability, particularly in pursuit of the Net Zero Emissions agenda. Despite substantial scholarly attention, the impact of sustainability oriented practices, including green accounting disclosure, eco efficiency, and sales growth, on firm value remains inconclusive. This uncertainty is particularly pronounced in emerging economies, where sustainability reporting frameworks are still evolving and have not yet reached full maturity. This study examines how these three variables influence firm value among IDX-listed energy companies. A quantitative explanatory design was applied using panel data regression on 100 firm-year observations from 20 companies over the 2020–2024 period, selected via purposive sampling, with analyses conducted in EViews 13. Sequential Chow, Hausman, and Lagrange Multiplier tests identified the Common Effect Model (CEM) as the most appropriate specification; heteroscedasticity was addressed using CEM with White Diagonal robust standard errors. Results show that green accounting disclosure exerts a positive and significant effect on firm value (β = 1.685753; p = 0.0199), while eco-efficiency produces a significant negative effect (β = −0.509943; p = 0.0021). Sales growth is non-significant (β = 0.005196; p = 0.6174). The overall model is significant (p = 0.0038), though explanatory power is limited (R² = 0.187). These findings reveal that investors interpret sustainability signals differently: environmental disclosure is positively valued, whereas ISO 14001-based eco-efficiency is associated with reduced market valuation, underscoring the importance of distinguishing environmental reporting from environmental management practices in firm valuation.
Copyright (c) 2026 Bilqis Fathu Qodar, Willy Sri Yuliandhari https://creativecommons.org/licenses/by/4.0
The Digital Financial Inclusion Paradox in Personal Financial Management among Gen Z and Millennials in Yogyakarta and Semarang
Financial technology has widened young people’s access to digital financial services, yet broader access does not automatically lead to better personal financial management. This study examines a sample-specific indication of the digital financial inclusion paradox by testing financial literacy, fintech-based financial inclusion, and lifestyle as determinants of personal financial management among Gen Z and Millennial fintech users in Yogyakarta and Semarang. Using a quantitative cross-sectional design, data were collected from 200 respondents selected through purposive sampling and analyzed using SEM-PLS with SmartPLS 3. The results show that financial literacy had no significant effect on personal financial management (β = 0.003; t = 0.030; p = 0.976). Fintech-based financial inclusion had a significant negative effect (β = -0.186; t = 2.677; p = 0.007), whereas lifestyle had a significant positive effect (β = 0.173; t = 2.105; p = 0.035). The model explained only 7.1% of the variance in personal financial management, indicating limited explanatory power. Supplementary Multi-Group Analysis showed no significant path differences between Gen Z and Millennials; however, this result should be interpreted cautiously because measurement invariance was not fully established. Overall, the findings provide preliminary and sample-specific evidence that fintech access may not strengthen personal financial management when it is not supported by behavioral control, digital financial literacy, and awareness of digital credit risks.
Copyright (c) 2026 Ratri Paramitalaksmi, Tutut Dewi Astuti, Azfa Mutiara Pabulo, Roselina Ahmad Saufi https://creativecommons.org/licenses/by/4.0