Journal of Governance, Taxation and Auditing

The Effect of Profitability and Liquidity on Firm Value with Dividend Policy as an Intervening Variable (Empirical Study on Non-Cyclical Consumer Sector Companies Listed on the Indonesia Stock Exchange Period 2018-2023)

Della MARCHELINA, Fauji SANUSI, Intan PURBASARI — Wed, 30 Apr 2025 00:00:00 +0700

This study aims to determine the effect of Profitability and Liquidity on Firm Value with Dividend Policy as an Intervening Variable in Consumer Non-Cyclicals Sector Companies listed on the Indonesia Stock Exchange for the 2018-2023 period. The sampling technique employed a purposive sampling method, aiming to obtain sample data by the study's criteria, and resulted in the selection of 24 companies from a population of 70 companies. The data analysis techniques employed in this study include descriptive statistics, classical assumption tests, and Sobel tests, utilizing SPSS 25 software. The results of this study indicate that: (1) Profitability has a positive significant effect on Firm Value, (2) Liquidity has a negative significant on Firm Value, (3) Dividend Policy has a positive significant effect on Firm Value, (4) Profitability has a positive significant effect on Dividend Policy, (5) Liquidity does not affect on Dividend Policy, (6) Dividend Policy can mediate the effect of Profitability on Firm Value, (7) Dividend Policy is unable to mediate the effect of Liquidity on Firm Value.

The Influence of Operational Cost Efficiency and Human Resource Competence on Product Quality at 1000 Rentcar Medan

Della PUSPITA, Wan FACHRUDDIN, M. Irsan NASUTION — Wed, 30 Apr 2025 00:00:00 +0700

Rapid industrial development and changes in consumer behavior require companies to continuously improve their competitiveness, particularly in maintaining customer satisfaction and trust. Operational cost efficiency is a company's ability to optimally manage expenses without compromising service quality. This study examines the effect of operational cost efficiency and human resource (HR) competency on product quality at PT 1000 Rentcar Medan. Using an associative quantitative method with multiple linear regression, data were collected from 35 operational and management employees. The results showed that operational cost efficiency had no significant effect on product quality. However, HR competency had a positive and significant effect on product quality. Furthermore, simultaneously, operational cost efficiency and HR competency significantly influenced product quality. These findings indicate that in the car rental industry, product quality is highly dependent on HR competency. Although customers do not directly feel internal cost efficiency, the synergy between the two is important for service quality.

The Effect of Return on Assets and Earnings Per Share on the Stock Price of PT Unilever Indonesia, TBK for the Period 2014-2022

Wed, 30 Apr 2025 00:00:00 +0700

The stock price of PT Unilever Indonesia, Tbk fluctuated from 2014 to 2022. The stock price fluctuation of PT Unilever Indonesia, Tbk is thought to be influenced by profitability ratios, namely Return On Assets and Earnings Per Share. This study aims to determine the effect of Return On Assets (ROA) and Earnings Per Share (EPS) on the stock price of PT Unilever Indonesia, Tbk. The data used are secondary data, namely, financial reports. The population used is the financial statements of PT Unilever Indonesia, Tbk, and the sampling method uses purposive sampling. The analysis techniques used are descriptive statistical tests, classical assumption tests (normality tests, multicollinearity tests, heteroscedasticity tests, autocorrelation tests), correlation tests, coefficient of determination tests, and hypothesis tests using Statistical Product and Service Solutions (SPSS) version 18 with a significance level of 5%. The results of the hypothesis test show that partially, ROA has no significant effect on Stock Prices, and EPS has a significant effect on Stock Prices. While simultaneously, ROA and EPS have a significant effect on Stock Prices.

Debate On Efforts to Extend the Presidential Term Limit During The Joko Widodo Administration from a Democratic Perspective

Hendra HENDRA — Thu, 18 Sep 2025 00:00:00 +0700

Since the amendment to the 1945 Constitution, the presidential term in Indonesia has been limited to a maximum of two terms. An interesting phenomenon has emerged in Joko Widodo's second term, with both pros and cons surrounding the idea of extending the presidential term to three terms. Some literature states that limiting the presidential term is one of the democratic indicators in preventing authoritarianism. While other opinions state that limiting the presidential term is considered undemocratic because it is not in line with the will of the people. Through a qualitative approach supported by literature studies, the author concludes that the idea of changing the presidential term limit is considered not contrary to democracy when viewed in terms of the will of the people in general elections. Still, suppose other factors such as the party system, the functioning of representative institutions, and the guarantee of the independence of the judiciary do not support the creation of democracy. In that case, there is concern that this extension of the term will give rise to a dictatorial leader who rules authoritarianly.

The Effect of Auditor Competence and Independence on Audit Quality: The Moderating Role of Audit Fees (A Case Study of Public Accounting Firms in Bandung)

Manurung Miranda Lidya NURSAID, Ali Rahman Reza ZAPUTRA — Wed, 30 Apr 2025 00:00:00 +0700

The purpose of this study is to evaluate various aspects of audit quality in Indonesia, with a particular emphasis on auditor competence, independence, and audit costs at public accounting firms in Bandung. A quantitative approach is applied using descriptive, associative, and causal methods. To collect data, auditors from 17 randomly selected public accounting firms were used as respondents in a closed-ended questionnaire based on a Likert scale. The data were analyzed using SEM-PLS techniques together with the SmartPLS 4 tool. The results of the analysis showed that auditor competence and independence greatly influence audit quality. Conversely, audit fees do not significantly affect audit quality, but they weaken the relationship between competence and audit quality. Meanwhile, audit fees do not moderate the relationship between independence and audit quality. These findings highlight the crucial role of auditor competence and objectivity in maintaining high audit quality, in line with Attribution Theory. Practically, companies should invest in improving auditor skills, ensure auditor independence, and establish audit fees that are fair and proportional. Future studies are encouraged to adopt a mixed-method approach.

The Influence of Coretax, Tax Corner, and Tax Volunteers on Annual Personal Tax Return Reporting Compliance (a Study on Generation Z and Millennials in Lamongan)

Handariyatul MAIMUNAH, Novi DARMAYANTI, Moh. Ali WAFA — Wed, 30 Apr 2025 00:00:00 +0700

This study investigates the influence of tax education programs—Coretax, Pojok Pajak, and Relawan Pajak—on the compliance of Annual Personal Income Tax Return (SPT) reporting among Generation Z and Millennial taxpayers in Lamongan Regency. A descriptive quantitative approach was employed using a survey method, with data collected through both online and offline questionnaires. The target population included taxpayers aged 18–44 who possess a Taxpayer Identification Number (NPWP) and utilize the e-Filing system. A total of 106 respondents were selected using the Lemeshow formula and a purposive sampling technique. Data were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) via SmartPLS 4.0. The findings reveal that Coretax and Relawan Pajak have a positive and significant impact on Annual Tax Return compliance, with path coefficients of 0.512 and 0.502, respectively (t-statistics > 1.96; p-values < 0.05). In contrast, Pojok Pajak did not exhibit a statistically significant effect. Demographically, the majority of respondents were female (63.21%), from Generation Z (69.81%), had a high school/vocational school education (56.60%), and were predominantly students (60.38%). The study concludes that Coretax and Relawan Pajak are effective tools for enhancing tax compliance among young taxpayers in the digital age. Accordingly, these programs should be strengthened and further developed as part of tax policy initiatives in Lamongan Regency to foster greater awareness and voluntary compliance among Millennials and Generation Z.

Time-Driven Activity Based Costing: An Innovative Method for Calculating the Cost of Renting a Hall in a Public Service Agency (BLU)

Audy MEIDINA, Utami Puji LESTARI — Wed, 30 Apr 2025 00:00:00 +0700

Determining rental rates for building facilities requires an accurate method that accommodates the actual activities and resources involved. Time-Driven Activity-Based Costing (TDABC) is considered an innovative method for calculating the cost of service rentals. This study aims to analyze the application of the TDABC method in determining the service cost of hall rentals at PTN-BLU X. Until now, PTN-BLU X has used a traditional method that merely compares the rental rates of other buildings without considering actual activities and resource usage, which can potentially lead to cost distortion. This research employs a descriptive qualitative approach with data collection techniques such as semi-structured interviews, unstructured observations, and documentation. The analysis is conducted by calculating and comparing service costs using both traditional and TDABC methods. The findings reveal that the TDABC method can identify activities, activity time, practical capacity, and unused activity costs in a more detailed manner. This method provides more accurate cost calculations and reflects actual resource consumption for each type of activity, such as seminars, training sessions, and school graduation ceremonies. The application of TDABC can serve as a more realistic basis for setting rental rates and support more effective managerial decision-making within PTN-BLU X.

Financial Decisions and Firm Value: The Moderating Role of Good Corporate Governance and Environmental Disclosure

Wed, 30 Apr 2025 00:00:00 +0700

This research aims to examine the effect of investment decisions, funding decisions, and dividend policy on firm value by including good corporate governance and environmental disclosure as moderating variables. This research was conducted on 47 banking sub-sector companies listed on the Indonesia Stock Exchange in 2023, to provide an empirical picture of the dynamics of financial decision-making and its implications for market valuation. The approach used is quantitative research with data analysis techniques, Moderated Regression Analysis, to test nine research hypotheses, based on secondary data obtained from the company's annual report. The results showed that investment decisions and dividend policy had a positive effect on firm value, while funding decisions had no significant effect. Meanwhile, institutional ownership and environmental disclosure are not proven to moderate the relationship between the three financial decisions and firm value. These findings indicate that investment decisions and dividend policies are important signals for the market, while the moderating role of good corporate governance and environmental disclosure is not optimal in the context of the banking industry. This research is expected to enrich empirical studies related to signal theory and provide input for company management and stakeholders in formulating financial strategies and sustainability policies that support the increase in firm value.

Implementation of Food Procurement with Cluster Discounts to Increase Food Cost Efficiency in Hotels X

Pande Bagus Adhi Satya RANATA, Titien DAMAYANTI, Ni Ketut MARENI — Wed, 30 Apr 2025 00:00:00 +0700

This study examines the implementation of food procurement with cluster discounts as an effort to optimize food costs at Hotel X. The research aims to analyze the effectiveness of cluster discount systems, which are carried out through collaborative purchasing among hotels under Marriott International, in maintaining efficiency while ensuring the quality of ingredients. The study employs a qualitative descriptive approach with triangulation of data collection through observation, interviews, and documentation within the purchasing and cost control departments. The findings indicate that the application of cluster discounts contributes to lower actual food cost percentages compared to the standard set by the hotel, which reflects a consistent efficiency in food procurement. This efficiency demonstrates that the strategy not only reduces costs but also supports the sustainability of service quality in line with hotel operational standards. The research concludes that the cluster discount system is a relevant and effective method for food cost control in the hospitality industry, and it can serve as a model for other hotels seeking to improve procurement strategies and cost management practices.

The Effect of Capital Adequacy Ratio, Non-Performing Loan, Net Interest Margin, Loan to Deposit Ratio, and Cost to Income Ratio on the Firm Value of Banks Listed on the Indonesia Stock Exchange for the 2021–2024 Period

Awen Alif ATHAYYA, Yulazri YULAZRI — Wed, 30 Apr 2025 00:00:00 +0700

This research investigates the influence of financial performance ratios on firm value within the banking industry listed on the Indonesia Stock Exchange (IDX). Firm value is assessed using the Tobin's Q metric, with the independent variables comprising the Capital Adequacy Ratio (CAR), Non-Performing Loans (NPL), Net Interest Margin (NIM), Loan-to-Deposit Ratio (LDR), and Cost-to-Income Ratio (CIR). A quantitative causal method employing multiple linear regression analysis is applied. The data were obtained from the financial reports of conventional banks registered on the IDX. Out of 45 banks considered as the study population, 41 met the sample criteria over the 2021–2024 period, resulting in 123 observations. Prior to regression, classical assumption tests were performed to validate the model. The findings reveal that CAR exerts a negative and significant impact on firm value, while NPL, NIM, and LDR show negative and significant relationships. Conversely, CIR demonstrates no significant influence. These outcomes imply that factors such as capital strength, asset quality, and credit distribution efficiency are key determinants shaping investors' evaluation of banking firm value.