Indonesian Journal of Law and Economics Review
Vol 19 No 2 (2024): May
International Accounting

Business Models Drive Investor Reactions in Construction Sector
Model Bisnis Mendorong Reaksi Investor di Sektor Konstruksi


View Article
  • Lili’ Mutala’liah,
  • Nurasik *
Lili’ Mutala’liah
Program Studi Akuntansi, Fakultas Bisnis Hukum dan Ilmu Sosial, Universitas Muhammadiyah Sidoarjo, Indonesia , Indonesia
Nurasik
Universitas Muhammadiyah Sidoarjo, Indonesia *

(*) Corresponding Author
Picture in here are illustration from public domain image or provided by the author, as part of their works
DOI: https://doi.org/10.21070/ijler.v19i2.1098
Published May 31, 2024
Keywords
  • Integrated Reporting,
  • Investor Reactions,
  • Building Construction,
  • Indonesia Stock Exchange,
  • Quantitative Analysis
How to Cite
Mutala’liah, L., & Nurasik. (2024). Business Models Drive Investor Reactions in Construction Sector. Indonesian Journal of Law and Economics Review, 19(2), 10.21070/ijler.v19i2.1098. https://doi.org/10.21070/ijler.v19i2.1098

Copyright (c) 2024 Lili’ Mutala’liah, Nurasik

Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.

Crossref
Scopus
Google Scholar
Europe PMC

Abstract

This study investigates the effect of presenting integrated reporting elements in annual reports on investor reactions in building construction companies listed on the Indonesia Stock Exchange (IDX) from 2018 to 2020. Using a quantitative method with multiple linear regression analysis in SPSS version 18, the study analyzed data from 10 purposively sampled companies. Results indicate that the business model element significantly affects investor reactions, while other elements like organizational description, governance, risks and opportunities, strategy and resource allocation, performance, future prospects, and basic elements of disclosure do not. These findings suggest companies should focus on enhancing their business model disclosures to better meet investor expectations and improve market responses.

 

Highlight:  

  1. Business Model Impact: Only the business model significantly affects investor reactions.
  2. Other Elements: Organizational description, governance, etc., show no significant investor impact.
  3. Recommendation: Enhance business model disclosures to meet investor expectations.

Keyword:  Integrated Reporting, Investor Reactions, Building Construction, Indonesia Stock Exchange, Quantitative Analysis

View Article

Downloads

Download data is not yet available.

Metrics

Metrics Loading ...

References

  1. L. L. Fuadah, Yuliani, and R. H. Safitri, "Pengungkapan Sustainability Reporting di Indonesia," 2018.
  2. N. A. Kustiani, "Penerapan Elemen-Elemen Integrated Reporting pada Perusahaan yang Terdaftar di Bursa Efek Indonesia."
  3. I. A. Novaridha, "Pengaruh Kepemilikan Institusional, Ukuran Perusahaan dan Profitabilitas terhadap Elemen-Elemen Integrated Reporting (Studi Pada Perusahaan Non-Keuangan yang Listing di BEI Tahun 2015)," vol. 4, 2017.
  4. K. Utami, "Disclosure dan Cost of Capital: Implementasi Integrated Reporting di Asia Pasifik," 2015.
  5. D. Khairina, "Pengaruh Integrated Reporting terhadap Asimetri Informasi," Skripsi, vol. 151, pp. 1–85, 2018, doi: 10.1145/3132847.3132886.
  6. I. Ghozali, "Aplikasi Analisis Multivariate dengan Program IBM SPSS 19," Semarang: Universitas Diponegoro, 2011.
  7. Sugiyono, "Metode Penelitian Kuantitatif, Kualitatif dan R&D," Bandung: Alfabeta, 2016.
  8. K. D. Pradita, A. Hartono, and A. F. Mustoffa, "Pengaruh Tekanan Eksternal, Ketidakpastian Lingkungan, dan Komitmen Manajemen terhadap Penerapan Transparansi Pelaporan Keuangan," ISOQUANT: Jurnal Ekonomi, Manajemen dan Akuntansi, vol. 3, no. 2, p. 87, 2019, doi: 10.24269/iso.v3i2.291.
  9. D. Untuk, M. Salah, S. Syarat, P. Pendidikan, S. Satu, and J. Akuntansi, "Pengaruh Tata Kelola Perusahaan dan Ukuran Perusahaan terhadap Kinerja Keuangan Perusahaan," Artikel Ilmiah, 2014.
  10. R. Martusa et al., "Tata Kelola Perusahaan," 2011.
  11. J. Gunawan, "Pengaruh Corporate Social Responsibility dan Corporate Governance terhadap Agresivitas Pajak," Jurnal Akuntansi, vol. 21, no. 3, p. 425, 2017, doi: 10.24912/ja.v21i3.246.
  12. W. H. Beaver, "The Information Content of Annual Earnings Announcements," Journal of Accounting Research, vol. 6, p. 67, 1968, doi: 10.2307/2490070.
  13. S. Hartini, "Hubungan Orientasi Pasar, Strategi Bersaing, Kewirausahaan Korporasi dan Kinerja Perusahaan," Ekuitas (Jurnal Ekonomi dan Keuangan), vol. 17, no. 1, p. 39, 2017, doi: 10.24034/j25485024.y2013.v17.i1.2220.
  14. M. R. Wijaya, "Analisis Faktor-Faktor yang Mempengaruhi Kinerja Perusahaan serta Dampaknya terhadap Nilai Perusahaan," Media Riset Akuntansi, vol. 4, no. 2, pp. 66–92, 2014.
  15. S. Zhou, R. Simnett, and W. Green, "Does Integrated Reporting Matter to the Capital Market?," Abacus, vol. 53, no. 1, pp. 94–132, 2017, doi: 10.1111/abac.12104.