http://journal2.uad.ac.id/index.php/reksa/issue/feed Jurnal REKSA: Rekayasa Keuangan, Syariah dan Audit 2024-09-01T00:00:00+00:00 Sartini Wardiwiyono, S.E., M.S.Acc., Ph.D., Ak., CA. reksa@act.uad.ac.id Open Journal Systems <hr /> <table width="100%" bgcolor="#f0f0f0"> <tbody> <tr> <td width="20%">Journal title</td> <td width="80%"><strong>Jurnal REKSA: Rekayasa Keuangan, Syariah dan Audit<br /></strong></td> </tr> <tr> <td width="20%">Initials</td> <td width="80%"><strong>J. REKSA</strong></td> </tr> <tr> <td width="20%">Abbreviation</td> <td width="80%"><strong>J. Rekay. Keu. Syar. Aud.</strong></td> </tr> <tr> <td width="20%">Frequency</td> <td width="80%"><strong>2 issues per year | March and September<br /></strong></td> </tr> <tr> <td width="20%">DOI</td> <td width="80%"><strong>Prefix 10.12928</strong><strong> by<a title="Crossref" href="https://search.crossref.org/?q=2089-6581&amp;from_ui=yes" target="_blank" rel="noopener"><img src="http://journal2.uad.ac.id/public/site/images/annisafithria/crossref1.png" alt="" width="51" height="19" /></a></strong></td> </tr> <tr> <td width="20%">ISSN</td> <td width="80%"> <p><strong><a href="https://issn.brin.go.id/terbit/detail/1327461900">2089-6581</a> (print) | <a href="https://issn.brin.go.id/terbit/detail/1512977358">2614-3720</a> (online)</strong></p> </td> </tr> <tr> <td width="20%">Editor-in-chief</td> <td width="80%"><a href="https://www.scopus.com/authid/detail.uri?authorId=55810815900"><strong>Sartini Wardiwiyono, S.E., M.S.Acc., Ph.D., Ak., CA</strong></a></td> </tr> <tr> <td width="20%">Publisher</td> <td width="80%"><a href="https://uad.ac.id/en/"><strong>Universitas Ahmad Dahlan</strong></a></td> </tr> <tr> <td width="20%">Citation Analysis</td> <td width="80%"> <p><strong><a href="https://sinta.kemdikbud.go.id/journals/google/10273">Sinta 3 </a>| <a href="https://doaj.org/toc/2614-3720?source=%7B%22query%22%3A%7B%22bool%22%3A%7B%22must%22%3A%5B%7B%22terms%22%3A%7B%22index.issn.exact%22%3A%5B%222089-6581%22%2C%222614-3720%22%5D%7D%7D%5D%7D%7D%2C%22size%22%3A100%2C%22sort%22%3A%5B%7B%22created_date%22%3A%7B%22order%22%3A%22desc%22%7D%7D%5D%2C%22_source%22%3A%7B%7D%2C%22track_total_hits%22%3Atrue%7D">DOAJ</a> | <a href="https://scholar.google.co.id/citations?hl=en&amp;user=RxbZM-sAAAAJ">Google Scholar</a> | <a href="https://app.dimensions.ai/discover/publication?search_mode=content&amp;search_text=Jurnal%20REKSA%3A%20Rekayasa%20Keuangan%2C%20Syariah%20dan%20Audit&amp;search_type=kws&amp;search_field=full_search">Dimensions</a> | <a href="https://www.base-search.net/Search/Results?type=all&amp;lookfor=Jurnal+REKSA%3A+Rekayasa+Keuangan%2C+Syariah+dan+Audit&amp;ling=1&amp;oaboost=1&amp;name=&amp;thes=&amp;refid=dcresen&amp;newsearch=1">BASE-Bielefeld Academic Search Engine</a> | <a href="https://search.crossref.org/?q=2089-6581&amp;from_ui=yes">Crossref</a> | <a href="https://garuda.kemdikbud.go.id/journal/view/19492">Garuda</a> </strong></p> </td> </tr> </tbody> </table> <hr /> <p><strong>Jurnal REKSA: Rekayasa Keuangan, Syariah, dan Audit</strong> is a journal which is published by Accounting Study Program, Faculty of Economics and Business, Universitas Ahmad Dahlan. <strong>Jurnal REKSA: Rekayasa Keuangan, Syariah, dan Audit </strong>publishes manuscript articles twice a year (March and September), containing articles in financial accounting, sharia accounting, finance, management and accounting information system, auditing, behavioral accounting, management accounting, taxation, corporate governance, accounting education, public sector accounting, environment accounting, sustainability, accounting for entrepreneurship, and business ethics with reference to scientific research standards and procedures established by the editorial board for publication. Manuscript articles can come from researchers, academicians, practitioners, lecturers, students, and other accounting observers who are interested in research in the field of accounting.</p> http://journal2.uad.ac.id/index.php/reksa/article/view/10441 Public Sentiment on Sustainable Finance and Implications for Islamic Banks 2024-07-01T05:32:48+00:00 Nurul Izzati Septiana nurulizzati@uniramalang.ac.id Randi Swandaru 2100098@student.inceif.edu.my Fahmi Ali Hudaefi hudaefi.fahmi.ali@o365.u-szeged.hu <p>This paper attempts to identify the challenges and strategies for implementing sustainable finance in Islamic banking and to analyze public opinion on sustainable finance on the Twitter platform using sentiment analysis. The research methods used in this study are the Analytical Network Process (ANP) method to answer the first research objective and the sentiment analysis method, which can assess public opinion based on emotions and sentiments in a particular text to answer the second research objective. The results of the study identified several challenges and priority strategies for implementing sustainable finance in Islamic banks. They identified the sentiment of words that can be used to design communication strategies to create a positive image for the company because it is associated with sustainable finance. This study may contribute to enhancing the implementation of sustainable finance in Islamic banks and better communicating with the public on this matter.</p> 2024-08-28T00:00:00+00:00 Copyright (c) 2024 Nurul Izzati Septiana, Randi Swandaru, Fahmi Ali Hudaefi http://journal2.uad.ac.id/index.php/reksa/article/view/10534 The Role of Institutional Ownership in Moderating ESG Disclosure’s Impact on Firm Value 2024-07-01T05:38:53+00:00 Fara Fauziah fafara.fauziah@gmail.com Novita Novita novita_1210@trilogi.ac.id Imam Nurcahyo Fambudi fambudi@trilogi.ac.id <p>This study investigates the role of institutional ownership as a moderating variable that amplifies the effect of ESG disclosure on firm value within the Consumer Cyclical industry subsector over the period 2019-2021. Employing a quantitative approach, the study examines the relationship between ESG disclosure and firm value, with institutional ownership as the moderating variable. Leverage, measured by the debt-to-equity ratio (DER), is utilized as a control variable. The research focuses on companies in the Consumer Cyclical subsector listed on the Indonesia Stock Exchange during the specified period, with a sample comprising 38 companies selected through purposive sampling. Secondary data are used in the analysis. The findings reveal a positive effect of ESG disclosure on firm value. Furthermore, the study demonstrates that institutional ownership strengthens the association between ESG disclosure and firm value. This research contributes to the literature by emphasizing the critical role of institutional ownership in moderating the relationship between ESG disclosure and firm value.</p> 2024-08-28T00:00:00+00:00 Copyright (c) 2024 Fara Fauziah, Novita, Imam Nurcahyo Fambudi http://journal2.uad.ac.id/index.php/reksa/article/view/10739 Financial Ratios on Reducing Financial Distress Moderated by ESG Disclosure 2024-07-01T06:04:19+00:00 Dina Nilam Rosalika dinanilamrosalik16@gmail.com Nurul Fauziah nurulfziahh@gmail.com Martdian Ratna Sari martdianratnasari@gmail.com <p>This study investigates the impact of financial ratios—including leverage, liquidity, operational capacity, and operating cash flow—on financial distress while assessing the moderating influence of ESG disclosure. It focuses on 26 energy sector companies listed on the IDX from 2018 to 2022, employing a quantitative approach and purposive sampling method. Nine hypotheses were formulated and tested using multiple and moderated regression analysis. The study found that leverage has a significant negative effect on reducing financial distress. In contrast, liquidity, operating capacity, and operating cash flow ratios were found to impact reducing financial distress positively. This study also confirmed that ESG disclosure could weaken the relationship between liquidity and potential financial distress reduction. However, ESG disclosure does not mediate the relationship between leverage, operating capacity, and operating cash flow to financial distress reduction. This findings lend credence to the applicability of stakeholders theory in explaining the relationship between financial ratios, ESG disclosure and financial distress. It also provides insight for companies on how to prevent and mitigate financial distress. Companies, especially in the Energy Sector, could reduce the potential financial distress by optimizing both financial and non-financial aspects in their annual and sustainability reports.</p> 2024-08-28T00:00:00+00:00 Copyright (c) 2024 Dina Nilam Rosalika, Nurul Fauziah, Martdian Ratna Sari http://journal2.uad.ac.id/index.php/reksa/article/view/11041 Behavioral Intention to Adopt Islamic Financial Technology: Theory of Planned Behaviour with Gender Moderation 2024-08-23T07:09:13+00:00 Budi Barata Kusuma Utami budi.utami@act.uad.ac.id Sartini Wardiwiyono sartini.w@act.uad.ac.id Weni Hawariyuni weni.h@uob.edu.om Muhamad Abduh muhamad.abduh@ubd.edu.bn Imam Riadi imam.riadi@mti.uad.ac.id <p>The Islamic banking industry in Indonesia continues to grow, as evidenced by the presence of technology-based services. This study aims to test the application of the theory of plan behavior in explaining customer intention to use Islamic financial technology by adding gender variables as moderators. Primary data were collected from 298 Islamic fintech users through direct and online surveys. The sample was selected based on the purposive sampling technique. Using PLS MGA analysis, this study found that attitude, subjective norms, and perceived behavioral control positively affect the intention to use Islamic fintech, except for perceived behavioral control in the male gender. Using the MGA, Parametric, and Welch-Satterthwait tests, the study also revealed no significant difference between males and females in utilizing Islamic fintech. This study expands the understanding of psychological and social factors in adopting Islamic fintech. It also contributes to the literature by filling the research gap that has not considered gender moderation in adopting Islamic fintech.</p> 2024-08-28T00:00:00+00:00 Copyright (c) 2024 Budi Barata Kusuma Utami, Sartini Wardiwiyono, Weni Hawariyuni, Muhamad Abduh, Imam Riadi http://journal2.uad.ac.id/index.php/reksa/article/view/9108 Indonesian Market Response to Green Investment 2024-04-29T22:47:17+00:00 Rintan Nuzul Ainy rintan.ainy@act.uad.ac.id Nabila Na'ma Aisa nabila.aisa@act.uad.ac.id Pilar Ibarrondo Davila pdavila@ugr.es <p>This research aims to determine the response of the Indonesian market to the announcement of CSR information. The Indonesian government has issued regulations regarding the implementation of CSR for companies in Indonesia. The study explores whether the Indonesian market incorporates CSR information into investment decisions. This research examines the market response to CSR information by conducting an event study on company announcements in the SRI KEHATI Index. Investments in companies listed in the SRI KEHATI Index are known as Green Investment. The market response is measured using the abnormal return value of Green Investment. The estimation window used in this research is five days before the announcement and five days after the announcement. The research results show that the Indonesian market has not fully considered CSR activities in investment decisions. Company sustainability factors such as CSR activities have not become the primary concern for Indonesian investors. This study contributes to the existing literature by providing empirical evidence on the market’s reaction to CSR announcements in Indonesia, where CSR is increasingly emphasized. By concentrating on SRI KEHATI index companies, the research offers valuable insights into the valuation of Green Investment.</p> 2024-08-28T00:00:00+00:00 Copyright (c) 2024 Rintan Nuzul Ainy, Nabila Na'ma Aisa http://journal2.uad.ac.id/index.php/reksa/article/view/10615 Tax Incentives Pathfinder under COVID-19 2024-07-02T04:00:29+00:00 Dinik Fitri Rahajeng Pangestuti dinik.pangestuti@uin-suka.ac.id Mun Yah Zahiroh munyahzahiroh@iainponorogo.ac.id <p>This research aims to comprehensively analyze the implementation of tax incentive strategies in mitigating the economic impact of COVID-19, grounded in endogenous growth theory. Utilizing a literature review of 134 articles published between 2020 and 2023, this study evaluates tax incentives as public policy interventions, comparing practices globally to provide insights for Indonesia. The Population, Intervention, Comparison, Outcomes, and Context (PICOC) framework is employed to ensure the validity and reliability of the literature, while Publish or Perish citation metrics assess the quality of sources. Findings indicate that tax incentives strategically counter economic downturns by boosting purchasing power, sustaining businesses, and improving compliance. However, their effectiveness could be enhanced due to a lack of taxpayer awareness. To address this, the study recommends developing more comprehensive, interactive, and measurable socialization programs alongside strengthening the role of Account Representatives in assisting taxpayers. This research contributes to the existing literature by providing a detailed review of tax incentive policies implemented during the pandemic, focusing on Indonesia and comparisons with other Southeast Asian countries. The study aims to offer insights into best practices for designing and implementing tax incentives, particularly in crises, to better align these policies with sustainable economic growth.</p> 2024-08-28T00:00:00+00:00 Copyright (c) 2024 Dinik Fitri Rahajeng Pangestuti, Mun Yah Zahiroh http://journal2.uad.ac.id/index.php/reksa/article/view/11252 ESG and Credit Risk: Evidence from Indonesian and Malaysian Banks 2024-08-05T07:42:13+00:00 Annisa Fithria annisa.fithria@act.uad.ac.id Surya Darma suryadarma@mail.ugm.ac.id <p>This study investigates the impact of Environmental, Social, and Governance (ESG) scores on credit risk, specifically Non-Performing Loans (NPL), in Indonesian and Malaysian banks, including both Islamic and conventional institutions. The study employs an unbalanced panel dataset from 12 Indonesian and 10 Malaysian banks over the period 2010-2023. Using fixed-effects regression models, the analysis explores whether higher ESG scores are associated with lower NPL levels. The results reveal that while overall ESG scores and their components—environmental, social, and governance—do not show significant impacts on NPL, bank size and economic growth are positively associated with credit risk. This research contributes to the understanding of ESG's role in financial stability within the banking sector, offering insights for policymakers, regulators, and stakeholders. By addressing a gap in the literature on ESG performance in banks, particularly in developing countries, the study underscores the importance of sustainable banking practices for enhancing financial stability and managing credit risk.</p> 2024-08-28T00:00:00+00:00 Copyright (c) 2024 Annisa Fithria, Surya Darma