Niki Lukviarman

Research on corporate governance has been conducted extensively over the past few decades. However, the result of various studies failed to produce conclusive insight. This study is aimed at identifying, classifying, analyzing and interpreting previous research on corporate governance in Asia by using meta-analytical approach. By using the HOMA (Hedges-Olkin Meta-Analytical) procedures, the current study collected eighty articles from journals ranging from 1999 until 2017. Data were gathered from empirical scientific papers. Through rigorous research process, the current study found that most previous research on corporate governance in Asia observed the patterns of influence of various types of ownership structure and board characteristics on corporate performance. Ownership by family, government, and management tend to have a negative impact on performance, whilst institutional ownership and foreign ownership show positive effect on performance. The study reveals inconsistent result for frequency of board meetings, existence of family members on board, outside director, and board independence towards performance. Similar finding appeared for the relationship of performance to women on board and CEO duality. CGPI as the Corporate Governance Perception index and board size were found to have a positive consistency on performance. Apart from limitations of the study, the result suggests that there exists institutional and environmental specificity in the study of corporate governance in Asia that may be different from other context of study so that future researcher need to take a precaution of this matter.

There is no guarantee that people will follow their professional code of ethics. Large number of violation occurred in almost every organization. In this study we argued that commitment toward code of ethics, which is related to ethical feelings, is imperative to predict whether a person will obey their professional code. This study predicted that commitment to the code of ethics is determined by individual morality (i.e. moral judgment and moral maturity), and religious feeling. The survey was conducted through online questionnaire to Indonesian employees from various sectors and undergraduate students. The analysis revealed that moral judgment cannot predict commitment toward code of ethics. The result showed that religious feeling and moral maturity have positive association with commitment to code of ethics. In addition, these two concepts also produced favorable effect on moral judgment. Discussion, implication, and limitation are provided in the final part of article.

Increased use of e-wallets in Indonesia has resulted in high competition among providers. Hence, companies must act to retain customers and impose continuous utilization of their services. This study aimed to investigate the determinants of continuous intention to use the preferred e-wallet in Indonesia. The framework was drawn from the technology continuance theory (TCT) with modifications to fit the e-wallet settings. This study assessed the effect of e-wallet features on continuous intention to use, with attitudes and satisfaction as intervening factors. Data were collected from the general population in Indonesia who uses e-wallets and possesses at least two accounts on different platforms. A total of 948 samples were generated using a web-based self-administrated survey. The data were analyzed using AMOS-SEM by assessing construct validity and reliability, as well as measurement and structural models. The analysis confirms the effect of attitudes and satisfaction on continuous intention. The findings also highlighted the positive impact of service compatibility and merchant networks on attitudes and satisfaction and the positive impact of perceived security toward satisfaction. Unexpected results revealed a strong and direct impact of value of reward programs and merchant networks toward continuance intentions. This study concludes that the modifications of TCT into the e-wallet settings can predict users’ post-adoption behavior.

Acknowledgment
This study is fully funded by the Directorate General of Higher Education of Indonesia with grant number 104/E4.1/AK.04.PT/2021; LPPM: T/37/UN.16.17/PT.01.03/PD UPT- Soshum/2021.

This study aims to provide empirical evidence about the determinants that can impact earnings management, through board diligence, ownership concentration, CEO ownership, and CEO tenure, as well as testing conservatism as a moderating variable. Secondary data, specifically information derived from annual financial reports, are utilized in this study. Information for financial reports is acquired from the Indonesia Stock Exchange (IDX) data stream and website from 2013 to 2022, the population of this study comprises all banking institutions listed on the Indonesia Stock Exchange. This study’s findings demonstrate that the presence of board diligence significantly hinders earnings management. Moreover, the findings of this study demonstrate that organizations characterized by a significant concentration of ownership will have the capacity to mitigate the prevalence of earnings management practices. Additionally, this study’s findings demonstrate that a reduction in earnings management activities is associated with greater CEO ownership. The findings of this study offer a practical illustration for stakeholders regarding the responsibilities of shareholders, which may prove beneficial in overseeing an organization’s operations. This study shows that high conservatism in companies actually mitigates the good effects of the ownership concentration and CEO ownership variables on earnings management. In summary, this study establishes that companies characterized by elevated levels of conservatism do not actively engage in earnings management practices that are beneficial to the organization.

Acknowledgment
This research received no specific grant from any funding agency in the public, commercial, or non-profit sectors.

Type of the article: Research Article

Abstract
This study examines the effect of two-tier board characteristics on firm value, with corporate reputation, proxied by Return on Assets (ROA), as a mediating variable. The research focuses on the Indonesian two-tier governance context, where the Board of Commissioners supervises management under concentrated ownership structures. The study uses panel data from 333 firm-year observations of non-financial companies listed on the Indonesia Stock Exchange (IDX) and included in the Kompas 100 Index over the 2019–2023 period. Data were analyzed using panel regression models with the Sobel test applied to evaluate the mediating effect. The results reveal that among the six examined board attributes, namely independence, size, tenure, education, meeting frequency, and age, only board meeting frequency shows a significant positive effect on firm value (p < 0.01). Board size positively affects ROA, indicating that a larger supervisory board enhances operational efficiency, while board education exhibits a negative influence, suggesting a potential mismatch between academic qualifications and practical business needs. However, ROA does not significantly affect firm value (p > 0.05), indicating that corporate reputation, when proxied by financial performance, fails to mediate the relationship between board characteristics and firm value. These findings underscore the crucial role of board meetings as a formal mechanism for effective supervision in Indonesia’s two-tier system. Moreover, they highlight that financial reputation alone is insufficient to drive firm value in emerging markets where direct governance mechanisms are more influential.

Acknowledgment
This research was conducted without financial support from any public, commercial, or nonprofit funding agency.