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This paper aims to examine the extent of ethical values information disclosure on the top 100 Malaysian and Indonesian companies’ annual reports using coercive isomorphism under the institutional theory.

Using the content analysis, the presence or exclusion of ethical values information disclosed on 100 Malaysian and Indonesian companies’ annual reports using a newly developed Ethical Values Disclosure Index is carried out.

The results of the analysis found that Indonesian companies on average disclosed 31 items under study compared to 27 items disclosed by the companies in Malaysia. The results suggest that Indonesian companies are more vigilant in the code of ethics, companies policy on ethical issues, monitoring program and accountability, ethical performance, ethical infrastructure and organizational responsibility aspects, whereas their Malaysian counterparts are better in reporting governance and integrity committee or board of directors.

The findings may not be applicable to other countries in the same region, nevertheless, revealed the importance of adequate ethical values disclosure in determining the level of ethical behavior.

Companies in Indonesia are coercively pressed by various influential stakeholder groups to address ethical issues. The less disclosure regarding corporate ethical behavior may indicate that unethical practices continue to be a problem in the Malaysian corporate sector.

This paper adds to the literature by examining the elements of ethical values adapted mainly from the professional bodies that regulate the accounting profession and other organizations using the institutional theory, particularly in two countries.

This systematic literature review presents the evolution of accounting-related research in the Indonesian context. We examine 55 academic articles from the initial 296 records of accounting and finance research in the Q1 Scopus-indexed journals from 1995 to 2022. This study sheds light on Indonesia’s main research streams, unique settings and urgent future research agenda.

This study adopts a systematic approach for a comprehensive literature review. We select articles according to a series of criteria and compile the metadata for the bibliographic mapping.

Our bibliometric analysis suggests five main research streams, namely (1) political connection, (2) capital market, (3) audit and accountability, (4) firm policy and (5) banking. We identify the following distinctive country settings, which are well discussed in extant literature: political connection, two-tier board system, weak accounting profession, information opacity and cultural impact on accounting. We outline prospective agendas to examine the institutional mechanisms’ role in addressing major environmental challenges through accountability.

This study offers unique contributions to the literature by comprehensively reviewing accounting-related research in Indonesia. Despite Indonesia’s economic and environmental importance, it has received limited attention from scholars. Using dynamic topic analysis, we highlight the need to examine the role of informal institutions, such as political connections and culture and formal institutional mechanisms, such as corporate governance and environmental disclosure.

Studies on sustainable finance examine how it is interrelated with economic, social, governance and environmental issues. Using financial data on publicly traded firms in Indonesia, this study aims to explore the interplay between the cost of capital, firm performance and the COVID-19 pandemic.

This study uses firm-level data sets of publicly listed firms from 2012 to 2021. The regression analysis reported in the study includes the Driscoll–Kraay estimator, propensity score matching model and fixed-effects regression.

The study revealed three significant findings. First, on average, non-environmental, social and governance (ESG) companies’ cost of capital is lower than that of ESG firms. Second, ROE in ESG enterprises is significantly impacted by capital costs. Third, the cost of capital has a negative impact on the market value (Tobin’s q) of non-ESG firms. The study specifically shows that after accounting for the pandemic, ESG firms did not benefit during the troubled COVID-19 crisis after controlling for the pandemic dummy years of 2020 and 2021. These results indicate that the adoption of green or sustainable finance is still in its infancy and that the sector requires more time to establish an enabling environment.

This study benefits from capital structure and ESG theories. It supports the argument that the debt utilization ratio is still relevant to a company’s value because it affects its financial performance. Moreover, adopting ESG principles helps businesses survive crises. Thus, the analysis confirms the superiority of ESG-based firms.

This study draws two conclusions. First, the results could be a reference for academics and practitioners to understand the effect of pandemic-related crises on a firm’s capital structure and performance. In terms of survival during a crisis, such as the COVID-19 pandemic, this study demonstrates how firms with strong ESG may perform differently than those without ESG. Second, this study supports the need for an empirical study and examination of the development of sustainable finance in the country while considering setbacks.

The results should be of interest to policymakers who focus on the ESG market and academics conducting ESG-related research on emerging markets.

This study contributes to the literature by establishing empirical evidence on the relationship between the cost of capital and firm performance of ESG- and non-ESG-rated enterprises in the Indonesian setting while controlling for the impact of the pandemic.

This study aims to examine the effect of social reputation on the relationship between boards and foreign ownership on the quality of sustainability disclosure.

The sample of this study consists of publicly-traded primary and secondary sector companies in Indonesia for 12 years, from 2009 to 2020. This study uses panel model regression to generate its results. The disclosure data are hand-collected data sourced from annual financial and company sustainability reports.

Higher foreign board component companies report lower quality of sustainability disclosure, whereas companies that possess foreign ownership components report a higher quality of sustainability disclosure. This result is strengthened by obtaining consistent results tested with economic, social and environmental disclosure components. In addition, if the company has a good social reputation, it will strengthen the relationship of foreign ownership to the quality of sustainability disclosure.

These findings are relevant for policymakers, professional organizations and practitioners in Indonesia and other developing countries.

The moderating effect of social reputation on the relation of the foreign board and foreign ownership-quality of sustainability disclosure as this study does remain rare in developing countries. This study complements various research conducted in developing countries, such as Indonesia, by offering a new dimension. The results indicate that social reputation has a moderating role in determining the impact of foreign ownership on the quality of sustainability disclosure.

This study aims to investigate the effect of the classification of origin country of institutional shareholder (domestic, developed and developing country) and its status on stock exchange (listed and unlisted) on environmental disclosure level in Indonesian companies.

The data set comprises 474 non-financial firms listed in Indonesian Stock Exchange (IDX) for the period of 2017 to 2019. The study uses an environmental disclosure checklist to measure the extent of environmental disclosure in companies’ reports. Panel regression analysis technique is adopted to investigate the association between total percentage of shares held by institutional shareholders based on the classification of origin country and the status in stock exchange, and the extent of environmental disclosure.

The study reveals that the extent of environmental disclosure is positively and significantly associated with institutional investors from domestic, developed countries, listed and unlisted institutional investors. Further analysis shows interesting results that institutions from developing countries have a negative and significant relationship with environmental disclosure in non-sensitive industries.

The authors recognize the issue of authors’ subjectivity in the measurement process of environmental disclosure. The sample for this study encompasses Indonesian listed firms. Thus, the results may not be generalized to Indonesian unlisted firms and other countries or regions.

This study suggests managers to engage more with institutional shareholders because they have greater concern for environmental disclosure practices. The current study also suggests managers to make strong environmental policies as they are important to ensure that institutional shareholders’ investments are safe.

Given the positive impact institutional shareholders have on the level of environmental disclosure, it indirectly indicates that institutional shareholders have a strong motivation to make the world a better place.

This study offers in-depth insights into the effect of institutional ownership on environmental disclosure based on the classification of origin country and listing status of institutional investors.

Despite the large number of Indonesian health-care workers working as migrant care workers in Japan, there is a lack of studies that have investigated this phenomenon or assessed the working conditions of Indonesian care workers working in Japanese aged-care facilities. This study aims to explore the work experiences of Indonesian care workers in Japan.

A qualitative descriptive research design was used, and a purposive sample of 18 Indonesian health-care workers (12 nurses and six midwives) who work as care workers in Japan participated in this study. Semistructured interviews were conducted with these participants between December 2022 and January 2023. The data were analyzed using content analysis. The Consolidated Criteria for Reporting Qualitative Research checklist was used to report this study.

Four key themes emerged from the data: easy but mentally challenging, being a care worker is a blessing, working in a partially Muslim-friendly environment and enjoy living: prefer to stay longer.

The work experiences of Indonesian care workers in Japan are complex and multifaceted. By understanding their experiences and needs, the authors can work toward creating more inclusive and supportive workplaces for all.

This study aimed to know the effect of cross-sectional risk, which comprises business-specific risk and stock market volatility, as a variable for estimating macroeconomic risk in Indonesia. This study observes public companies in Indonesia and Indonesian macroeconomic data from 2004 to 2020. In this study, the author uses term spread as the dependent variable that reflects macroeconomic risk. The cross-sectional risk comprises financial friction (FF), cash flow (CF), debt–service ratio, and stock market volatility as independent variables. By using the Autoregressive Distributed Lag (ARDL) Model method, this study shows that business-specific and stock market risk can estimate macroeconomic risk, so that it becomes an early signal of economic shock, such as recession or high inflation, in the future. The model in this study also examines the cross-sectional risk relationship with other macroeconomic indicators, such as the Consumer Confidence Index (CCI), money supply (M0), and Indonesia’s trade balance (TB).

This study aims to explore credit scoring regulations, governance, variables and methods used by peer-to-peer (P2P) lending platforms in key players of the Association of Southeast Asian Nations (ASEAN) region’s P2P, Indonesia, Malaysia and Singapore.

This study explores the P2P Lending characteristics of the three countries using qualitative literature review, interview, focus group discussion and desk research.

This study concludes that the credit scoring variables used by the countries’ companies are almost the same. Key drivers of the differences are countries’ regulations, management/business core value and credit scoring data processing methods.

Ultimately, this research provides a comprehensive view for investors, businesses and researchers on the topic of ASEAN credit scoring governance and will help them navigate the complexities and improve their awareness on the importance of credit scoring governance in P2P lending companies.

This research provides an in-depth perspective on how P2P lending companies, credit scoring governance and regulations in the biggest three countries in Southeast Asia.

This study aimed to discover the factors affecting employee performance by testing the relationship of change management, job satisfaction, organizational commitment and leadership style on employee performance in Indonesian sharia property companies.

The study population was all members of “Sharia Property Developer” (DPS) across Indonesia with criteria of having subordinates at least one person and is listed as a DPS member. The samples used were 71 people from the 200 members of DPS across Indonesia. The sampling method used was based on R² value and significance level with an 80% statistical strength. Data analysis was carried out using smartPLS software to test the relationship of change management, job satisfaction, organizational commitment and leadership style on employee performance.

The utilization of SEM in Smart PLS for change management with the ADKAR method had a negative value of 6.2% in affecting employee performance and 4.6% in affecting job satisfaction. Job satisfaction insignificantly affected employee performance by 7.5%. Leadership style and organizational commitment positively affected performance by 57.9% and 25.6%, respectively.

This study did not limit respondents’ education levels. Twenty percent of respondents were middle and high school graduates. Respondent’s position was mostly the highest leader in the company by 58%. Indicators in the ADKAR model did not implement the construct validity test since the researchers did not find precedent studies that discuss the indicators of the ADKAR model in detail.

Factors that positively and significantly affected employee performance can be used to plan employee performance of DPS member companies.

The company must create a program to produce meaning in working, shape leaders to have discipline by putting appropriate employees as leaders.

This study used change management, organizational commitment, job satisfaction and leadership style as exogenous variables, job satisfaction and leadership style as intervening variables. The study model modified the previous study regarding employee performance improvement because it utilized the change management with the ADKAR model. The study objects were sharia property companies, where the researchers did not find previous studies discussing employee performance in sharia property companies.

This research is very important to conduct to review government policy on Indonesian contract law that still uses contract law inherited from Dutch product (BW) and review which regulations are to be adapted to current development of contract law. This research’s novelty is that new rules will be found in Indonesian contract law.

This research used normative and empirical methods. Normative research is dogmatic research or one that analyzes legislation using secondary data consisting of primary, secondary and tertiary legal materials. Besides the normative method, the research was also conducted using empirical method through direct interview and observation in some government agencies, such as the Directorate General of Legislation, Ministry of Law and Human Rights (HAM) and Chairman of Legal Product Formation Division, House of People’s Representatives of the Republic of Indonesia and the Civil Law Teaching Association (APHK).

This research found that new Indonesian contract law is very important to give legal certainty and justice to the people, and the contract law must regulate important matters related to the sources of contract besides agreement and law, related to termination, unjust enrichment, negotiation, good faith, public contract and private contract and related to legal act and validity of electronic contract.

The novelty of this research is that new rules will be found in Indonesian contract law. This research is different from previous researches conducted by Sigit Irianto (2013) and Deviana Yuanitasari (2020), that discuss only on contract law development related only to the good faith principle.

Drafting contract law is a relatively heavy duty due to the factor of law pluralism that contains contract aspect in Indonesia such as customary law aspect, Islamic law aspect, regional aspect, international aspect and other aspects. In fact, meanwhile, there is rapid development in the community with regard to business transactions that are also followed with contract law development. Therefore, amendment is needed for the Indonesian contract law to adapt to the people’s need for law, and this change agenda is also addressed to updating the contract law.

Civil law reform, especially contract law, is deemed very important for Indonesia, because based on field fact, people do their business contract by applying contract law that is not yet regulated in the contract law in KUHPerdata; thus, new contract law is needed that regulates important matters related to sources other than agreement and law.

It is very important to conduct this research to review government policy in Indonesian contract law that still uses the contract law inherited from Dutch product (BW) and review what regulations should have been adjusted to current development of contract law. The novelty of this research is that new rules will be found in Indonesian contract law. This research is different from previous researches conducted by Sigit Irianto (2013) and Deviana Yuanitasari (2020), that discuss only on contract law development related only to the good faith principle.