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To introduce new initiatives in combating money laundering and related corruption in the capital market sector through international cooperation between Indonesia and Australia.

This study used qualitative research methods. Data were obtained through observation, interviews and secondary data analysis. Primary and secondary data were then analyzed with an interactive model.

The Indonesian capital market is at high risk of being used as a means of laundering corrupt money. Our analysis found a major obstacle when investigators and prosecutors have handled money laundering cases conducted in the capital market because they have not had enough knowledge related to the capital market and its business processes.

This article is expected to add to the literature on handling money laundering from corruption carried out in the capital market. It describes best-practice efforts undertaken by Indonesia and Australia.

This study describes the accounting mechanism for an ethnic marriage in East Sumba, Indonesia. Blended with a rich culture of Indonesia’s familial piety (Kekeluargaan), the accounting perspective is argued as a root of Indonesia’s norm and plays an important role in defining accounting mechanisms in the Indonesian context.

The study observes the Belis traditional marriage in East Sumba, East Nusa Tenggara, in a qualitative approach. About 12 in-depth interviews from indigenous East Sumba sources, a direct field observation and a historical content analysis were used.

Traditional objects, local caste and spiritual karma are key factors in determining the Belis marital mechanism, which is intertwined with the Kekeluargaan norm. Marriage involves the unification of assets and liabilities bound to the newlyweds and their extended family and neighbors. The Kekeluargaan underpins the cooperation of both sides of the families with the manifestation of the parties concerned and is connected in mutual understanding based on harmony and respect.

This study suggests that accountants in Indonesia should factor in the organizational cultural context. They can do this by fostering relationships, integrating cultural norms into accounting practices and adopting a broader perspective that considers the impact on multiple stakeholders for more effective accounting.

The value of this study challenges the perspective from a non-western point of view that accounting and Kekeluargaan relate to one another and align the role of culture as a context in accounting.

Recent years saw a paradigm shift from ex post (reactive) to ex ante (proactive) approaches (e.g. insurance) to disaster risk financing for building resilience of communities in developing countries. To facilitate adoption, the approaches should be adapted so that they can be technically feasible and culturally desirable to the local context. This paper aims to report an exploratory study to elaborate the existing arrangements to deal with the impacts of disaster and the potential to shift to a more proactive disaster risk financing in Indonesia.

A series of stakeholder engagement activities in Semarang and Solo, Indonesia was conducted to ascertain the existing arrangements for disaster risk financing at local government level, the challenges/barriers to the adoption of insurance, education and policies to facilitate the transformation from reactive to proactive process. Thematic analysis was applied to transcribed conversations during interviews, focus groups and workshops. Identification of emerging issues/themes was also guided by the researchers’ notes during the events, and facilitated by qualitative analysis software, Atlas Ti®. This was complemented by an analysis of regulations and documents provided by the local stakeholders.

The local governments heavily rely on contingency fund, which is not enough and often significantly delayed to fund recovery and reconstruction of public infrastructure. The use of insurance is limited in both public and private sectors, particularly in the majority of low-income communities. Various barriers and challenges were identified under several categories, namely, institutional, cultural, affordability, lack of awareness and knowledge, insurance arrangement process and lack of trust. The findings also suggest that improving insurance education should involve multiple stakeholders, and both formal and informal routes should be pursued.

The research fills the gap of knowledge in disaster risk financing in the context of developing countries, specifically in local governments and communities in Indonesia. The findings may be replicable for other developing countries with low adoption of ex ante financial instruments for dealing with the impacts of disaster.

The purpose of this paper is to evaluate subjectivity issue, particularly sensitivity variance and fatigue effect, in human sensory evaluation, as well as review the feasibility of human-independent quality system, using E-tongue and E-nose.

The sensitivity level is evaluated by measuring the threshold of Acesulfame-K, while the fatigue effect is evaluated by measuring the accuracy level of evaluation through the time. The experiment was administered to six trained sensory panelists.

The experiment result shows that each panelist has a different level of sensitivity and tendency in evaluating samples containing Acesulfame-K. Furthermore, by simulating the panelists’ daily inspection, the fatigue effect is also found in one out of six panelists. The use of E-nose and E-tongue, may eliminate the subjectivity issue, supporting the development of human error-free quality system.

The research findings indicate the needs of human substitution-built into the quality system to avoid both of subjectivity and error judgment while defining the products quality. However, the small numbers of panelists as well as the unvalidated substitute instruments application in the target workcenter were the main limitation of this study. Human-independent quality system could be applied only when the instruments have been calibrated to human response in perceiving taste and odor.

The research finding supports the theory of human panels’ tradeoffs in a sensory analysis in terms of sensitivity level variance and fatigue. It has provided additional contributions to the existing theories as well as developed effective strategies for the development of the human-independent quality system.

In the context of a two-tier governance system, this study aims to investigate whether CEO overconfidence affects firm risk. In addition, this study examines the moderating role of the founder CEO on CEO overconfidence and firm risk.

This study uses a composite score index of CEO overconfidence with a sample of nonfinancial firms listed on the Indonesia Stock Exchange from 2012 to 2019. It tests the research hypothesis with multiple linear regression analysis.

The findings indicate that CEO overconfidence reduces firm risk. In contrast, the founder CEO does not affect the relationship between CEO overconfidence and firm risk.

This study supports the upper echelon theory that argues that firms’ top management affects firms’ outcomes and behaviors.

The top management team heavily affects firms’ outcomes and behaviors in a two-tier governance system. Furthermore, firms’ selection policy of overconfident CEOs will be improved because these CEOs can diversify firm risks more effectively.

To the best of the authors’ knowledge, this study is the first to examine the role of the founder in the relationship between CEO overconfidence and firm risk.

This study aims to propose a solution to accelerate financing support low carbon (circular economy) transition. The authors developed a sustainability governance (SGOV) model and a sustainability governance (SGOV) index as a proxy for the diffusion of sustainability innovation. This study investigates the effect of SGOV practices on profitability with the mediating role of operational efficiency.

The SGOV index consists of 32 and 122 sub-items, constructed using content analysis of annual and sustainability reports published by banks listed on the Indonesia Stock Exchange (IDX) from 2010 to 2020 (404 bank-year observations).

Banks are at a moderate level of sustainability innovation. They are prioritizing the balance aspects of financial, social and environmental. SGOV practice negatively affects profitability. However, operational efficiency plays a positive mediating role that is robust.

The measurement of the SGOV index uses criteria that have not been tested in previous studies. There is the potential subjectivity in interpreting qualitative data, although this has been minimized by cross-checking the analysis of five raters.

This study gives feedback for the Indonesia sustainable finance (SF) journey phase I to proceed into SF journey phase II.

The SGOV model can be applied in other industry sectors to know the readiness for entering low carbon (circular economy) transition.

The uniqueness of the scoring technique assuming a step-by-step innovation model to sustainable finance.

This study aims to examine the impact of founder or descendant chief executive officers (CEOs) on the relationship between tax avoidance and firms' future risk. This issue is important because of an ongoing debate about founder and descendant CEOs' impacts, contributions and implications for firms.

This study uses a sample of publicly listed nonfinancial Indonesian firms in 2012–2019, most of which are family firms and adhere to a two-tier governance system that was understudied in previous studies. The authors use panel-random effect data regression for the statistical analysis.

The results demonstrate that founder or descendant CEOs do not affect the positive relationship between tax avoidance and firms' future risks.

This research supports the upper-echelon theory, arguing that top management teams affect firms' strategic policies and outcomes.

CEOs play weaker roles in countries with a two-tier governance system than in a one-tier one. Additionally, in relation to Hofstede's cultural dimensions, Indonesia has collective and feminist characteristics that emphasize elements of togetherness and group so that firms reflect the firms' top management teams and not only CEOs.

This research fills a research gap on the role of founder and descendant CEOs in the relationship between tax avoidance and firms' future risks by analyzing firms in Indonesia, a country with a two-tier governance system and collective and feminine cultural characteristics.

This paper aims to examine Indonesian independent musicians' (indie) adaptation to the environmental business model. The research on institutional entrepreneurship (IE) has been used in organizational studies, including the music profession. However, the music industry's information and technology advancement has not been scrutinized in a less developed country (LDC) context.

A qualitative approach is used to conduct semi-structured interviews with 14 independent music professionals and enthusiasts. The interview result was three stages of coding, including open, axial and selective, as well as generating appropriate themes.

The results summarize entrepreneurial behavior, socio-economy and technology factors. The existing literature supports these results, though new perspectives are only identified in the LDC context. Internal factors drive IE, while socio-economy, including music literacy, education and legal issues, influence its sub-setting. On the other hand, technology positively or negatively impacts IE based on individual utilization.

Despite the massive piracy and copyright issues, independent musicians require creativity and innovation beyond product creation. Weak and unclear regulations in Indonesia prevent musicians from revealing their identity and publishing their artwork, preventing or obstructing them from their goals.

This paper illustrates the urgency to implement copyright regulations for musicians in Indonesia, which are insufficiently enforced by law enforcement. Such conditions prevents musicians from revealing their identity and publishing their artwork.

This paper addresses the extent to which a community such as independent musician, struggles to find its identity toward the changing of its business model. By mapping the factors associated with an independent musician, the paper suggests that this community has strategic economic potential as a creative entity.

This paper examines the music industry in less-developed nations by contextualizing their institutions using the IE framework. It contributes to identifying the environmental factors influencing independent institutional musicians. Internal and external factors significantly contribute to identifying Indonesia's independent musician setting through IE.

The study aims to provide new evidence on the relationship between the board of commissioners (BOCs) and audit committee (AC) as a primary corporate governance structure toward business strategy typologies.

The authors use logistic regression analyses with a sample of industrial companies listed on the Indonesia Stock Exchange from 2012–2018. Data of the BOC and AC are hand-collected from the annual reports and analyzed using the content analysis.

The study finds evidence that the effectiveness of the BOC is more likely to have a positive association with the prospector strategies. The authors also find that the AC's effectiveness is more likely to associate negatively with prospector strategies. As the board monitoring system, the findings appear to disclose that the BOC and ACs following the prospector strategies are more likely to focus on achieving the entity's strategy than monitoring financial reporting and internal control functions compared with the defender strategies.

The results have significant practical implications to help explain that despite the corporate governance mechanisms that are likely to exist, prospectors are still likely to have weaker internal control and less likely to remediate material weaknesses (MWs) than defenders due to their specific business strategy related attributes.

The study extends the studies on the corporate governance mechanism using the BOC and the AC's roles in business strategy setting from the strategic management literature using Miles and Snow's (1978; 2003) framework.

This paper aims to identify the typology of fashion lifestyle that is relevant to predict the individual difference in evaluating Islamic fashion product.

The study involved female respondents aged above 16 years and wearing hijab. The sample of this research is 697 respondents from four big cities in Indonesia (Jakarta, Bandung, Surabaya and Malang) with the population in this study constituting 264 million Indonesian people. A random procedure with socio-demographic (sex, age and habitat) quotas was used for selecting respondent, and data is obtained using questionnaire research instruments.

There are 11 factors and 6 segments for clustering the respondents of Islamic fashion lifestyle. The cluster analysis demonstrated that the mean of personality pursuit, Sharia dressing style orientation and religiousity is greater than 4.00 on all clusters. This score proves that the consumers of Islamic fashion among six clusters have high level or religiousity and Sharia dressing style.

Considering the upcoming issue on Indonesia Moslem market subculture, this research explores market segmentation based on Islamic fashion lifestyle. In 2015, Indonesia reached the fifth rank in the world Islamic fashion market with $13.28bn potential market value and the average of 10.17% fashion industry growth annually (Euromonitor, 2018).