Studi Akuntansi dan Bisnis Indonesia

ESG, Ownership Structure, and Board Composition Effects on Tax Avoidance in Indonesian Manufacturing

2026-05-26T04:30:37+00:00

Purpose: This study aims to analyze the effect of ESG performance, institutional ownership, and the proportion of female directors on tax avoidance in manufacturing companies listed on the Indonesia Stock Exchange from 2022 to 2024.

Methodology: This study uses a quantitative approach with a balanced panel dataset of 19 companies, yielding 57 observations selected through purposive sampling. Tax avoidance is proxied by the Effective Tax Rate (ETR), while firm size and profitability serve as control variables. The analysis was conducted using a Random Effect Model with Panel EGLS (Swamy-Arora) in EViews.

Results: ESG performance and the proportion of female directors had no significant effect on tax avoidance. Institutional ownership has a significant negative effect on tax avoidance, indicating that higher institutional ownership reduces aggressive tax-avoidance practices.

Conclusions: The findings suggest that institutional ownership effectively monitors management and curbs opportunistic behavior related to tax avoidance, while ESG disclosure and female director representation are currently insufficient to significantly influence tax strategies in the Indonesian manufacturing context.

Limitations: This study is limited by a small sample (19 firms), reliance on a single ESG data source, and a short post-pandemic period. Future research should expand the sample, separate ESG dimensions, and explore alternative tax avoidance proxies, such as Cash ETR or Book-Tax Differences.

Contribution: This study provides empirical evidence on the factors of corporate governance and sustainability that affect tax avoidance in Indonesia, offering insights for regulators, investors, and companies to improve monitoring mechanisms and corporate reporting practices.

Cash Holdings, Investment Efficiency, and the Russia–Ukraine War: Evidence from Indonesian Energy Firms

2026-05-26T02:20:51+00:00

Purpose: This study examines the effect of cash holdings on corporate investment efficiency in energy sector companies listed on the Indonesia Stock Exchange (IDX) from 2016 to 2023, with the Russian invasion of Ukraine as a moderating variable.

Methodology: Using a quantitative approach, secondary data from 62 energy firms (389 observations) were analyzed using Stata through descriptive statistics, panel model selection, classical assumptions, and hypothesis testing.

Results: The results indicate that cash holdings positively and significantly affect investment efficiency, while the Russian invasion of Ukraine does not moderate this relationship and only acts as a predictor moderator that shows a direct effect on investment efficiency.

Conclusions: The level of cash holdings plays an important role in influencing investment efficiency, whereas the Russian invasion of Ukraine does not affect this relationship in the Indonesian energy sector.

Limitations: This study is limited to Huang’s (2020) model, which may vary in accuracy from alternatives, and a temporal dummy proxy for the Russian Invasion of Ukraine that fails to capture geopolitical shock intensity.

Contribution: This study contributes to the literature and corporate decision-making by providing empirical evidence on how cash holdings affect investment efficiency and highlighting the moderating role of the Russian invasion of Ukraine in this relationship.

Financial Literacy, Income, Lifestyle, and Consumptive Behaviour among Student Workers

2026-05-26T03:04:37+00:00

Purpose: This study examines the effects of financial literacy, income, and lifestyle on the consumptive behavior of student workers partnered with online transportation companies in Kupang, Indonesia.

Methodology: This study used a quantitative survey of 100 student workers. Data were collected using questionnaires and analyzed using multiple linear regression with IBM SPSS Statistics 27.

Results: Financial literacy had a significant negative effect on consumption behavior, whereas lifestyle had a significant positive effect. Income had no significant effect on the results. Simultaneously, the three variables significantly influenced consumption behavior, with an R² value of 0.336.

Conclusions: Financial literacy and lifestyle are key determinants of the consumptive behavior of student workers, whereas income does not directly influence consumptive tendencies.

Limitations: This study is limited to student workers in Kupang City and used a cross-sectional, self-reported survey design.

Contribution: This study contributes to the behavioral finance literature by highlighting the importance of financial literacy and lifestyle control in reducing excessive consumption among gig economy student workers.

Internal Control, HR Competence, and PNBP Financial Reporting Reliability in South Bangka Agencies

2026-05-26T03:11:27+00:00

Purpose: The purpose of this study is to examine how internal control and Human Resource (HR) competency affect the accuracy of Non-Tax State Revenue (PNBP) financial reporting at the Ministry of Religious Affairs Office of South Bangka Regency and the Land Office (ATR/BPN).

Methodology: This quantitative survey involved 56 participants. Data were analyzed using validity, reliability, classical assumption tests, multiple linear regression, t-test, F-test, and coefficient of determination, based on stewardship theory.

Results: Internal control positively and significantly affects PNBP financial reporting reliability, whereas HR competence has no significant partial effect. Simultaneously, both variables significantly influenced reporting reliability, with an Adjusted R² of 0.780.

Conclusions: Internal control is the dominant factor in improving PNBP financial reporting reliability, while both variables jointly explain 78% of the variation in central government vertical agencies in South Bangka Regency.

Limitations: Only two central government vertical agencies in South Bangka Regency participated in this survey, which had a small sample size (56 respondents).

Contribution: This study contributes to the development of public sector accounting research in the context of PNBP management, while also providing practical input for government agencies and policymakers to strengthen internal control and HR competence to produce reliable and accountable PNBP financial reporting.