Browsing by Author "Kartadjumena, Eriana"

Now showing 1 - 11 of 11
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    THE BOARD OF COMMISSIONERS, CORPORATE SUSTAINABILITY CONCERNS AND COMPANY FINANCIAL PERFORMANCE: EVIDENCE FROM INDONESIAN COMMERCIAL BANKS
    (Fakultas Ekonomi Universitas Widyatama, 2019-01) Kartadjumena, Eriana
    This study addresses the issue of whether mandatory internal corporate governance mechanisms, particularly the role of board of commissioners as the board supervision function, could influence corporate sustainability concerns as the construct of corporate responsibility disclosure. Further, this study examines whether there is an extended impact of the relationship of corporate sustainability concern on financial performance, in terms of both financial health and market value performance. This study provides evidence that the board of commissioners could be an important control mechanism to encourage the company to be more concerned with corporate sustainability with respect to economic, environment, and social activities. Further, viewed from the shareholder perspective, the positive influence brought by the board of commissioners on corporate sustainability concerns may dampen the firm's market value. On the other hand, according to the stakeholder perspective, the positive influence of the board of commissioners on corporate sustainability concern will improve company market value performance through its financial health performance. Moreover, this study also reveals that the motive of Indonesian banking companies in engaging in corporate sustainability initiatives tends to be altruistic. Indonesian commercial banking companies conduct corporate social responsibility activities only for their own sake, which influences the reduction of the company’s financial performance, both financial health and market value performance.
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    COMPANY FINANCIAL PERFORMANCE AND TIMELINESS FINANCIAL REPORTING: Evidence from Indonesia Mining Companies
    (Review of International Geographical Education, 11(6), Spring, 2021) Kartadjumena, Eriana; Rachman, Yoga Tantular; Prayitno, Yogo Heru; Rachmat, Radhi Abdul Halim; Christine, Debbie; Novatiani, R. Ait
    This study investigates whether the company financial performance can affect the timelines financial reporting in Indonesia mining companies. By following signaling theory, this study argues that the better a company financial performance then the company will be on time in reporting its financial statements, in vice versa. The factors which are investigated consist of current ratio, debt to equity ratio, total assets turnover, and net profit margin from Indonesia mining companies listed on the Indonesia Stock Exchange for the period 2014-2019. Sample selection used purposive sampling and obtained 220 samples from 240 populations. Technique analysis in this research is logistic regression. The results of this research show that the current ratio and debt to equity ratio have not affect the timeliness financial reporting. While, the total assets turnover and net profit margin tend to affect the timeliness financial reporting.
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    COMPARISON OF FINANCIAL DISTRESS ANALYSIS USING THE “Z” SCORE MODIFICATION, X-SCORE, G-SCORE AND S-SCORE MODELS TO ANALYZE THE ACCURACY OF THE BANKRUPTCY PREDICTION IN THE MINING INDUSTRY PERIOD OF 2016 – 2018
    (International Journal of Psychosocial Rehabilitation, Vol.24, Issue 02, 2020) Winarso, Eddy; Kusumah, R. Wedi Rusmawan; Kartadjumena, Eriana; Sherlita, Erly; Sukmawati, Fitri
    Coal mining companies in Indonesia have a high business risk because most of the production is exported abroad, especially in China and India. The quality of coal in Indonesia is in the low category because it only produces 5,100 to 5,100 cal / gram. With fluctuations in world prices and unstable demand resulting in fluctuations in profits resulting in disrupted company performance, thus experiencing financial distress. In this study the researchers chose a coal mining company because of the number of companies listed in the stock exchange with 24 companies and 4 of them did not announce their annual reports continuously so that the companies studied were 20 companies from 2016 to 2018 company financial statement data which were processed using the analysis model financial distress revealed by (1) Z "Altman Modification score, (2) X score from Zmijewski, (3) Model G - Score from Grover, and (4) S - score from Grover to analyze the accuracy of bankruptcy predictions. The results show that (1) There are differences in the Accuracy of Bankruptcy Prediction between the Modified Z ”-Score Altman Model and the Springate S-Score Model for coal mining companies listed on the Stock Exchange in the 2016-2018 period. (2) There is a difference in the Accuracy of Bankruptcy Prediction between the Modified Z ”-Score Altman Model and the Zmijewski X-Score on coal mining companies listed on the Stock Exchange in the 2016-2018 period. (3) There is a difference in the Accuracy of Bankruptcy Prediction between the Modified Z ”- Score Altman Model and the Grover G-Score Model for coal mining companies listed on the Stock Exchange in the 2016-2018 period. (4) There is a difference in the Accuracy of Bankruptcy Prediction between the Springate S-Score Model and the Zmijewski X-Score in the coal mining companies listed on the Stock Exchange in the 2016-2018 period. (5) There is a difference in the Accuracy of Bankruptcy Prediction between the S-Score Springate Model and the Grover G-Score Model in coal mining companies listed on the Stock Exchange in the 2016-2018 period. (6) There is a difference in the Accuracy of Bankruptcy Prediction between Zmijewski's X-Score Model and Grover's GScore Model in coal mining companies listed on the Stock Exchange in the 2016-2018 period.
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    DOES THE ROLE OF BOARD COMMISSIONERS CAN INCREASE EXECUTIVE COMPENSATION AND COMPANY FINANCIAL PERFORMANCE IN INDONESIA COMMERCIAL BANKING?
    (Solid State Technology Volume: 63 Issue: 3, 2020) Kartadjumena, Eriana; Rodgers, Waymond
    This study investigates whether the board of commissioners (BoCs) role in Indonesia commercial banks could shape the motivation of the top management or executives to achieve company goals of higher company financial performance in a concentrated ownership dominant context. This study analyses data from 252 firm-year observations as a new unbalanced data panel from the population of 39 Indonesia commercial banks listed in the Indonesia Stock Exchange for the period 2007-2014. This study implemented a decision-making framework model, specifically the Throughput Model, which considers the concepts of perception (P), information (I), and judgment (J) in the decision making process (D). This study found reveals that of the BoCs role in two-tier corporate governance (CG) systems promotes higher payment in executive compensation and better company financial performance. This study also found that the concentrated ownership structure has strengthened the positive relationship between the BoCs role and executive compensation in order to increase company financial health and market value performance. The role of the BoC in a concentrated ownership structure context could not provide effective protection of shareholders (large ownership) and other stakeholders (minority ownership) from the expropriation behaviour of managers through excessive of their compensation. This study reveals that those mechanisms are important mechanisms in making a company's decision not only to align shareholders’ interests (according to the agency theoretic pathway) but also for broader stakeholders’ interests (according to stakeholders’ pathway) to increase both companies financial health and market value performance. This study provides lessons from the past for decision makers in understanding the stakeholders' concern of the role of BoCs that is vital to understand corporate behaviour to set up policy in order to regulate corporate activities, determine objectives and choose the strategies in a concentrated ownership dominant context.
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    EXECUTIVE COMPENSATION, CORPORATE SUSTAINABILITY CONCERNS AND COMPANY FINANCIAL PERFORMANCE IN INDONESIAN COMMERCIAL BANKING
    (Fakultas Ekonomi Universitas Widyatama, 2019-01) Kartadjumena, Eriana
    This research explores the potential influence of executive compensation on corporate sustainability concerns and company financial performance. Interestingly, by investigating the pay-for-performance relationship, this study finds that executive compensation has a direct significant positive impact on corporate sustainability concerns and both company financial health and market value performance. Meanwhile, by adopting a shareholder perspective, this study reveals that higher executive compensation can encourage managers to adopt more corporate sustainability concerns for the shareholders' and/or managers' benefits; however, this will reduce the firm's value. Moreover, a counter-balance mechanism occurs when employs the stakeholders' perspective is employed. High executive compensation motivates managers to implement more corporate sustainability concerns to serve all stakeholders’ interests, which may to increase the firm's market value through company financial health.
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    THE INFLUENCE OF BOARD OF COMMISSIONERS STRUCTURE ON CORPORATE SUSTAINABILITY CONCERNS AND FINANCIAL PERFORMANCE IN INDONESIAN COMMERCIAL BANKS
    (Jour of Adv Research in Dynamical & Control Systems, Vol. 11, 03-Special Issue, 2019) Kartadjumena, Eriana; Rodgers, Waymond
    This study examines mandatory internal corporate governance mechanism, particularly the Board of Commissioners (BoCs) structure in Indonesian commercial banks influence sustainabilityconcerns and financial performance. This study encapsulates three areas of research by examining the shareholder and stakeholder perspectives into a single empirical study in a developing country context with a two-tier corporate governance system. This study utilises a unbalanced data panel of 252 firm-year observations from a population of 39 Indonesian listed commercial banking firms during the period of 2007-2014, and draws both shareholder and stakeholders perspectives in two different research models. It does so by utilising on a decision-making model framework, the Throughput Model, which allows identification of the impact of various steps in the decision-making process.This study provides evidence that the BoCs structure in the Indonesian banking acts as an internal governance mechanism in encouraging company to be more concerned with corporate sustainability actions, i.e., economic, environmental, and social activities. This study also finds according the shareholder perspective, theBoCs structure has positive influence on sustainability concerns that may dampen the firm's market value. In contrast,from the stake holder perspective, the BoCs structure has positive influence on corporate sustainability concernsthatwill increase firm’s market value performance via its financial health performance.
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    INTEGRATED REPORTING DISCLOSURE SCORES AND EXPLANATORY FACTORS: CASE IN INDONESIA CONTEXT
    (International Journal of Psychosocial Rehabilitation, Vol. 24, Issue 2, 2020) Kartadjumena, Eriana; Anna, Yane Devi
    This study aims to analyze the company disclosure level based on the IIRC’s integrated reporting framework and also to explore its determining factors, namely stand-alone sustainability report, sustainability index and sustainability or corporate social responsibility committee. This research investigates the integrated reporting disclosure level of annual reports, websites and sustainability reports from 87 companies’ websites in Kompas 100 index. This study is quantitative study and employs multivariate ordinary least squares regression to test the hypothesis. The results show that the corporate organizational overview, external environment and governance as the highest scores of integrated reporting disclosures index. On the other hand, the company outlook and business models as the lowest scores. This study shows that stand-alone sustainability report has a significant influence on an integrated reporting disclosure score.
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    METODE AKUNTANSI PENGGABUNGAN USAHA
    (FOKUS : Jurnal Akuntansi dan Manajemen Sekolah Tinggi Ilmu Ekonomi Bandung Volume 2 No.3, 2001-02) Kartadjumena, Eriana
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    PENGARUH VOLUNTARY DISCLOSSURE OF FINANCIAL INFORMATION DAN CSR DISCLOSSURE TERHADAP EARNING RESPONSE COEFFICIENT (Survey pada Perusahaan Manufaktur di BEI 2008-2009)
    (PPM School of Management, 2010-11-25) Kartadjumena, Eriana
    This study aimed to investigate empirically the effect of voluntary disclosure of financial information and CSR disclosure on earnings response coefficient at manufacturing companies that listing on the Indonesian Stock Exchange in 2008-2009. This study using a disclosure index advanced by Botosan (1997) to measure the scope of voluntary disclosure financial information and CSR Index, adapted from research Sembiring (2005) to measure the scope of CSR disclosure and the earnings response coefficient is measured with regression of abnormal return with unexpected earnings ± 5-day at window period from the date of publication of annual report. This study uses multiple regression analysis and correlation analysis of 24 annual report data’s, stock price index’s and manufacturing company listed for year period 2008-2009. The results showed that partially voluntary disclosure of financial information has no significant positive influence on earnings response coefficient while for CSR disclosure has significant negatively influence on earnings response coefficient. Furthermore, voluntary disclosure of financial information and CSR disclosure simultaneously did not affect the earnings response coefficient.
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    THE RELATIONSHIP OF PROFIT AND CORPORATE SOCIAL RESPONSIBILITY DISCLOSURE (Survey On Manufacture Industry In Indonesia)
    (2011-03-14) Kartadjumena, Eriana; Hadi, Dudi Abdul; Budiana, Novan
    This study aims to empirically investigate the relationship of profit and level of corporate social responsibility (CSR) disclosure. Profit was measured with proxy of earning per share while level of corporate social responsibility disclosure was measured by using CSR index with content analysis method that was adapted from research of Sembiring’s (2005). This research was used analytical descriptive method with survey approach. Data analysis that using chi-square test with purposive sampling from 45 sample of financial statements and annual reports of companies on manufacturing industries are listed in Indonesia Capital Market in 2007 – 2009 period. The results showed there was positive high correlations of profit and level of corporate social responsibility disclosure. The result of this research is evidenced by the increased in average of company earnings per share followed by a growing number of CSR indicators that are disclosure.
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    THE USE OF SCHEMATIC FACES AS AN ALTERNATIVE COMMUNICATION FORMAT IN SENDING ACCOUNTING INFORMATION (An Experimental Study on High School and Accounting Department Students)
    (Society Interdisciplinary Business and Economy Research Conference (SIBR) 2011, Economic Faculty Tammasat University Bangkok, 2011-06-16) Kartadjumena, Eriana; Jayanti, Dwi; Hadi, Dudi Abdul
    This research aims to know the reaction of financial report readers by analyzing their speed and accuracy (efficiency and effectivity) in interpreting the accounting information about company’s profitability, liquidity, and leverage sent using schematic faces format presentation compared to conventional formats such as financial ratios and financial data. Method of analysis used in this research are descriptive statistic and differential t-test using one-way anova, besides utilizing validity and reliability tests, to know the quality of data from implementing the research instruments. The sample contain 251 respondents which consist of 33 students of grade 3th majoring in social science from 1st Senior High School Margahayu Bandung and 218 students from accounting department of Widyatama University Bandung which are taken using stratified random sampling by grouping students into first year students (at least had covered three semesters) and final year students (completing a thesys). The results show that financial report readers in average have a shorter time (efficient) and a smaller deviation (effective) in interpreting accounting information about company’s profitability, liquidity, and leverage sent using schematic faces format presentation instead of conventional ones such as financial ratios and financial data.