How to Detect Financial Shenanigans?: Evidence From the Healthcare Sector in Indonesia

Authors

  • Eklamsia Sakti Healthcare Administration Department, Sekolah Tinggi Ilmu Kesehatan Ngudia Husada Madura
  • Enggal Sari Maduratna Healthcare Administration Department, Sekolah Tinggi Ilmu Kesehatan Ngudia Husada Madura

Keywords:

Financial Shenanigans, Detection, Covid-19, Healthcare company

Abstract

This research aims to empirically test the ability of financial ratios to detect financial shenanigans during the Covid-19 pandemic. The objects of this research are healthcare companies listed on the Indonesia Stock Exchange (IDX) between 2017 and 2022. The research sample consisted of 72 financial report data. The data analysis technique uses logistic regression with IMB SPSS 25 statistical tool. Detection proxies use return on assets (ROA), revenues quality ratio (RQR) and Real Earnings Management (REM). The proxies for financial shenanigans are the Beneish M-score model and the Dechow F-score model. The results of this research are (1) ROA is significant for F score, (2) RQR is significant for F score, (3) REM is significant for M score. The main conclusion of This research is that financial ratios help detect financial shenanigans that occurred during the Covid-19 pandemic.

References

Alkhyyoon, H., Abbaszadeh, M. R., & Zadeh, F. N. (2023). Organizational Risk Management and Performance from the Perspective of Fraud: A Comparative Study in Iraq, Iran, and Saudi Arabia. Journal of Risk and Financial Management, 16(3), 205. https://doi.org/10.3390/jrfm16030205

Dechow, P. M., Ak, B. K., Sun, E. Y., & Wang, A. Y. (2013). Do Financial Ratio Models Help Investors Better Predict and Interpret Significant Corporate Events ? Australian Journal of Management.

Devi, S., Warasniasih, N. M. S., & Masdiantini, P. R. (2020). The Impact of COVID-19 Pandemic on the Financial Performance of Firms on the Indonesia Stock Exchange. Journal of Economics, Business, & Accountancy Ventura, 23(2). https://doi.org/10.14414/jebav.v23i2.2313

ICW. (2023). Laporan Hasil Pemantauan Tren Penindakan Kasus Korupsi Tahun 2022 Penulis : Diky Anandya Lalola Easter.

Narsa, N. P. D. R. H., Afifa, L. M. E., & Wardhaningrum, O. A. (2023). Fraud triangle and earnings management based on the modified M-score: A study on manufacturing company in Indonesia. Heliyon, 9(2), e13649. https://doi.org/10.1016/j.heliyon.2023.e13649

Rababah, A., Al-Haddad, L., Sial, M. S., Chunmei, Z., & Cherian, J. (2020). Analyzing the effects of COVID-19 pandemic on the financial performance of Chinese listed companies. Journal of Public Affairs, 20(4). https://doi.org/10.1002/pa.2440

Ratmono, D., Darsono, D., & Cahyonowati, N. (2020). Financial Statement Fraud Detection With Beneish M-Score and Dechow F-Score Model: An Empirical Analysis of Fraud Pentagon Theory in Indonesia. International Journal of Financial Research, 11(6), 154. https://doi.org/10.5430/ijfr.v11n6p154

Schilit, H. M., Perler, J., & Englehart, Y. (2018). Financial Shenanigans : How to Detect Accounting Gimmicks and Fraud in Financial Reports. In The McGraw-Hill Companies, Inc.

Downloads

Published

2025-04-16

How to Cite

Sakti, E., & Maduratna, E. S. (2025). How to Detect Financial Shenanigans?: Evidence From the Healthcare Sector in Indonesia. AKRUAL: Jurnal Akuntansi, 16(2), 194–204. Retrieved from https://journal.unesa.ac.id/index.php/aj/article/view/27586

Issue

Vol. 16 No. 2 (2025): AKRUAL: Jurnal Akuntansi (In Progress)

Section

Articles

License

Copyright (c) 2024 Eklamsia Sakti, Enggal Sari Maduratna

Creative Commons License

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

Abstract views: 104 , PDF Downloads: 24