Jurnal Riset Akuntansi Dan Bisnis Airlangga

STOCK LIQUIDITY: THE ROLES OF FOREIGN AND LOCAL INSTITUTIONS

Ardan Ardiyanto, Ani Wilujeng Suryani, Ammar Bin Asbi — Sat, 02 Aug 2025 00:00:00 +0700

High or low liquidity of stocks can affect investment decisions, liquid stocks tend to attract the attention of investors. One factor that can affect stock liquidity is institutional ownership. This study aims to determine the effect of foreign and local institutional ownership on stock liquidity. This research sample uses stock data on IDX and stock ownership data on KSEI in 2021. Stock liquidity data is calculated using the bid-ask spread. The hypothesis was tested using the quantile regression method. The results of this study indicate that foreign and local institutional ownership has a positive effect on stock liquidity. However, the coefficient value of foreign institutions is greater than that of local institutions, which means that foreign institutional ownership dominates in driving stock liquidity. These findings contribute theoretically to the validity of agency conflicts and some practically. First, these results can be used for investors in considering their investment decisions in stocks that have foreign and local institutional ownership structures. Second, these results can be used by management to consider the impact of the institutional ownership structure within the company.

ENVIRONMENTAL MANAGEMENT ACCOUNTING, GREEN TRANSFORMATIONAL LEADERSHIP AND ENVIRONMENTAL PERFORMANCE: EVIDENCE FROM HOTELIERS

Dyang Ramadhanty Irmy, Ruth Samantha Hamzah — Sat, 02 Aug 2025 00:00:00 +0700

This research aims to analyze the impact of the implementation of Environmental Management Accounting (EMA) and Green Transformational Leadership (GTL) on the environmental performance of hotel companies in Palembang, Indonesia. The research was conducted using a descriptive quantitative approach. Data were collected through questionnaires distributed to 36 hotels, resulting in 108 respondents. Data analysis was conducted using SmartPLS (Smart Partial Least Square) software by performing descriptive statistical analysis and multiple linear regression to test the relationships between variables. The analysis results show that EMA and GTL each have a positive and significant impact on the company's environmental performance. EMA allows the company to monitor and improve the efficiency of environmental management, while GTL motivates employees to be more concerned about environmental issues. These findings provide practical recommendations for hotel companies to adopt EMA and implement GTL leadership style as part of their strategy to improve environmental performance. The integration of these two approaches can help companies achieve sustainability goals more effectively. This research is novel as it focuses on the hospitality industry, which has rarely been the subject of study. Additionally, this research combines EMA and GTL analysis to explore their impact on the company's environmental performance.

COMBATTING FRAUD IN STATE-OWNED ENTERPRISES USING BLOCKCHAIN AND IOT TECHNOLOGIES

M. Syahrudin, Sani Susanto — Sat, 02 Aug 2025 00:00:00 +0700

Fraud in strategic sectors such as energy and finance, particularly within state-owned enterprises, remains a critical challenge to national economic integrity. Despite increased state revenues, the incidence of fraud continues to rise, highlighting the urgent need for robust technological interventions. This study aims to explore how Blockchain and Internet of Things (IoT) technologies have been utilized in anti-fraud systems over the past decade. Employing a Systematic Literature Review (SLR) approach guided by the PRISMA framework and conducted using the Watase Uake platform, this study analyzed 69 articles indexed in Scopus from 2015 to 2025. The analysis revealed a significant rise in research activity on this topic since 2019, peaking in 2022. The findings indicate that Blockchain’s decentralization and immutability, combined with IoT’s real-time monitoring capabilities, create a synergistic effect in enhancing fraud detection and prevention mechanisms. Empirical examples, such as fuel distribution frau d in Pertamina, illustrate how these technologies can reduce information asymmetry and improve audit quality. This study contributes to the literature by offering an integrated framework for leveraging emerging technologies in building transparent, secure, and efficient anti-fraud systems.

INFLUENCE REWARD AND CONTROL SYSTEMS ON CORPORATE PERFORMANCE: AN ORGANIZATIONAL CULTURE PERSPECTIVE

Sekar Mayangsari, Tutik Siswanti — Sat, 02 Aug 2025 00:00:00 +0700

This study aims to examine influence of reward systems, process and structure management control systems on organizational performance, and to analyze the moderating role of organizational culture. Sample is 205 respondents representing restaurant businesses in the JABODETABEK are were selected by purposive sampling. Data were collected through structured questionnaires and analyzed using Structural Equation Modeling with Partial Least Squares (SEM-PLS). The results showed that the reward system (β = 0.399; t = 4.996; p = 0.000) and process management control systems (β = 0.095; t = 4.888; p = 0.000) a positive and significant influence on organizational performance. In contrast, the structural management control system did not influence (β = 0.044; t = 0.677; p = 0.499). Furthermore, organizational culture failed to moderate the influence of reward systems, PMCS, and SMCS on performance, with p-values of 0.898, 0.874, and 0.909, respectively. The Adjusted R² value of 0.564 indicates that 56.4% of the variation in organizational performance is explained by the changes in the independent variables included in the model. The results highlight the importance of aligning reward systems and control processes with the organizational context. Practically, the findings guide restaurant managers to implement transparent reward systems and adaptive control processes to improve performance. This study is limited by its focus restaurants in a specific region and its reliance on self-reported survey data, which may introduce response bias. Future research should consider expanding the sample across industries and regions, integrating qualitative methods, and examining other contextual variables that may strengthen the moderating role of organizational culture.