EFFECTIVENESS OF FINANCIAL PERFORMANCE OF PROVINCIAL GOVERNMENTS IN INDONESIA: EVIDENCE DURING COVID-19
Main Article Content
Abstract
The nominal number of cases of inefficiency, inefficiency, and ineffectiveness shows a significant increase, reflecting the government's financial performance in managing finances. This research aims to analyze the financial performance of provincial governments in Indonesia, which is measured through indicators of capital expenditure, local revenue, and balancing funds in the initial period of COVID-19 (2019-2020) and the transition period of COVID-19 (2021-2022). 133 local government budget realization reports in Indonesia were analyzed using panel data regression. The research results show that local revenue significantly affected the local government's financial performance in these two periods. However, balancing funds only had a substantial impact during the early period of COVID-19. Capital expenditures negatively and insignificantly affect financial performance during the initial and transition periods. The results of this research provide an overview of the impact of COVID-19 on the financial performance of provincial and regional governments in Indonesia.
Downloads
Download data is not yet available.
Article Details
How to Cite
Agustina, D. S., & Dwi Urip Wardoyo. (2024). EFFECTIVENESS OF FINANCIAL PERFORMANCE OF PROVINCIAL GOVERNMENTS IN INDONESIA: EVIDENCE DURING COVID-19. Akurasi : Jurnal Studi Akuntansi Dan Keuangan, 7(1), 241-256. https://doi.org/10.29303/akurasi.v7i1.514
Section
Articles
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
Penulis yang naskahnya diterbitkan menyetujui ketentuan sebagai berikut: Hak publikasi atas semua materi naskah jurnal yang diterbitkan/dipublikasikan dalam situs Jurnal AKURASI ini dipegang oleh dewan redaksi dengan sepengetahuan penulis (hak moral tetap milik penulis naskah). Ketentuan legal formal untuk akses artikel digital jurnal elektronik ini tunduk pada ketentuan lisensi Creative Commons Attribution-ShareAlike (CC BY-SA), yang berarti Jurnal AKURASI berhak menyimpan, mengalih media/format-kan, mengelola dalam bentuk pangkalan data (database), merawat, dan mempublikasikan artikel tanpa meminta izin dari Penulis selama tetap mencantumkan nama Penulis sebagai pemilik Hak Cipta. Naskah yang diterbitkan/dipublikasikan secara cetak dan elektronik bersifat open access untuk tujuan pendidikan, penelitian, dan perpustakaan. Selain tujuan tersebut, dewan redaksi tidak bertanggung jawab atas pelanggaran terhadap hukum hak cipta.
References
Andjarwati, T., Budiarti, E., Soemadijo, P. S., & Yasin, M. (2021). Analysis Of Local Own Revenue And Balancing Funds On The Financial Performance Of Districts And Cities In The Region Of East Java Province. International Journal of Economics and Finance Studies, 13(1), 235–250. https://doi.org/10.34109/ijefs.202112233
Ardelia, I. N., Wulandari, H. K., Ernitawati, Y., & Dumadi, D. (2022). Pengaruh Pendapatan Asli Daerah, Belanja Modal Dan Dana Perimbangan Terhadap Kinerja Keuangan Pemerintah Daerah Studi Empiris Kabupaten Dan Kota Se-Eks Karesidenan Pekalongan Periode 2016-2020. Jurnal Aplikasi Akuntansi, 7(1), 60–80. https://doi.org/10.29303/jaa.v7i1.165
Aswar, K. (2019). Financial Performance of Local Governments in Indonesia. European Journal of Business and Management Research, 4(6). https://doi.org/10.24018/ejbmr.2019.4.6.164
Atmoko, C. A., & Khairudin, D. (2022). Dampak Pendapatan Daerah Dan Belanja Modal Terhadap Kinerja Keuangan Pemerintah Daerah. Jurnal Ilmiah Akuntansi Kesatuan. https://doi.org/10.37641/jiakes.v10i1.1295.
Awwaliyah, N. F., Agriyanto, R., & Farida, D. N. (2019). The effect of regional original income and balance funding on regional government financial performance. Journal of Islamic Accounting and Finance Research, 1(1), 25–46. https://doi.org/10.21580/jiafr.2019.1.1.3745
Badan Pemeriksa Keuangan Republik Indonesia (2022). Link: https://www.bpk.go.id/id (Access: 15 October 2023).
Basuki Agus Tri dan Prawoto Nano. (2016). Analisis regresi dalam penelitian ekonomi & bisnis (dilengkapi aplikasi SPSS & Eviews). PT RAJA GRAFINFO PERSADA.
Bougie Roger dan Sekaran Uma. (2019). Research Methods for Business: A Skill-Building Approach, 8/E. WILEY.
Digdowiseiso, K., Subiyanto, B., & Cahyanto, R. D. (2022). Pengaruh Pendapatan Asli Daerah, Dana Perimbangan, Dan Belanja Modal Terhadap Kinerja Keuangan Pemerintah Daerah. Fair Value: Jurnal Ilmiah Akuntansi Dan Keuangan, Vol. 4 (6). https://doi.org/10.32670/fairvalue.v4i6.1150 .
Fernandes, J., & Putri, S. (2022). Pengaruh Pendapatan Asli Daerah Dan Belanja Modal Terhadap Kinerja Keuangan Daerah Pada 19 Kabupaten/Kota Provinsi Sumatera Barat Tahun 2017-2020. Jurnal Revenue : Jurnal Ilmiah Akuntansi, 3, 198–209. https://doi.org/10.46306/rev.v3i1.102.
Halim Abdul dan Kusufi Muhammad Syam. (2014). Akuntansi Sektor Publik. SALEMBA EMPAT.
Iacuzzi, S. (2022). An appraisal of financial indicators for local government: a structured literature review. Journal of Public Budgeting, Accounting and Financial Management, 34(6), 69–94. https://doi.org/10.1108/JPBAFM-04-2021-0064
Mahajan, R., Lim, W. M., Sareen, M., Kumar, S., & Panwar, R. (2023). Stakeholder theory. Journal of Business Research, 166. https://doi.org/10.1016/j.jbusres.2023.114104.
Maulina, A., Alkamal, M., & Fahira, N. S. (2021). Pengaruh Pendapatan Asli Daerah, Dana Perimbangan, Belanja Modal, Dan Ukuran Pemerintah Daerah Terhadap Kinerja Keuangan Pemerintah Daerah. JISIMAR: Journal Of Information System, Applied, Management, Accounting And Research, 5(2), 390. https://doi.org/10.52362/jisamar.v5i2.373.
Mardiasmo. (2018). Akuntansi Sektor Publik. ANDI
Natalia Padang, N., & Suprapto Padang. (2023). Pengaruh Pendapatan Asli Daerah (Pad), Dana Perimbangan Dan Belanja Modal Terhadap Kinerja Keuangan Pemerintah Daerah Di Kabupaten/Kota Provinsi Sumatera Utara. JRAK: Jurnal Riset Akuntansi Dan Keuangan, 9(2). https://doi.org/10.54367/jrak.v9i2.
Nilam Kencana Ningrat, C. I., & Supadmi, N. L. (2019). Pengaruh Pendapatan Asli Daerah dan Belanja Modal Pada Kinerja Keuangan Pemerintah Daerah. E-Jurnal Akuntansi, 29(2), 683. https://doi.org/10.24843/eja.2019.v29.i02.p15
Nugroho, A., Yuliusman, Y., & Hernando, R. (2023). The Influence of Regional Original Income and Balancing Funds on The Financial Performance of District/City Governments in Jambi Province in 2018-2021. Jurnal Akuntansi & Keuangan Unja, 8(1), 23–34. https://doi.org/10.22437/jaku.v8i1.24128.
Pandoyo dan Moh. Sofyan. (2018). Metodologi Penelitian Keuangan dan Bisnis. IN MEDIA
Rafael, S. J. M., & Istianah, I. (2022). Comparative Analysis of Local Government’s Financial Performance Before and During the COVID-19 Pandemic. Jurnal Tata Kelola Dan Akuntabilitas Keuangan Negara, 8(2), 199–212. https://doi.org/10.28986/jtaken.v8i2.830
Rahman, A., Sirojuzalim, Lubis, I., & Pratomo, W. A. (2024). Income Inequality between Provinces in Indonesia. Jurnal Ekonomi Malaysia, 57(3), 59–74. https://doi.org/10.17576/JEM-2024-5703-05
Ramahdani, A. F., & Trisnaningsih, S. (2022). Pengaruh Ukuran Pemerintah Dan Pendapatan Asli Daerah (Pad) Terhadap Kinerja Keuangan Pada Pemerintah Kota Surabaya. Costing: Journal Of Economic, Business and Accounting, 6(1). https://doi.org/10.31539/costing.v6i1.3924
Ratnasari, D., & Meirini, D. (2022). Pendapatan Asli Daerah, Dana Perimbangan, Belanja Modal, Dan Silpa Dalam Pengaruhnya Kinerja Keuangan. JAK : Jurnal Akuntansi, 17 (1), 38-47. https://doi.org/10.37058/jak.v17i1.6737
Sari, N. M. D. P., & Mustanda, I. K. (2019). Pengaruh Ukuran Pemerintah Daerah, Pendapatan Asli Daerah Dan Belanja Modal Terhadap Kinerja Keuangan Pemerintah Daerah. E-Jurnal Manajemen Universitas Udayana, 8(8), 47-59. https://doi.org/10.24843/ejmunud.2019.v08.i08.p02.
Sari, N., Rojeston, B. N. M., Purba, R. A., Saragih, T. B., & Banjarnahor, W. (2020). Pengaruh Belanja Modal dan Dana Perimbagan Terhadap Kinerja Keuangan. Costing:Journal of Economic, Business and Accounting, 4 (1). https://doi.org/10.31539/costing.v4i1.1547
Syahrul Asfar, A., Akob, M., Ilyas, G. B., Anwar, Muh. A., Yusriadi, Umanailo, M. C. B., & Suprayitno. (2021). The Effect of Regional Original Income and Capital Expenditure Management against Economic Growth of Mamuju Central Regency through Performance Effectiveness Regional Finance. Proceedings of the International Conference on Industrial Engineering and Operations Management Sao Paulo, Brazil. https://doi.org/10.2991/aebmr.k.200309.034.
Sebayang, R. (2020) WHO Nyatakan Wabah COVID-19 jadi Pandemi, Apa Maksudnya?, CNBC Indonesia. Link: https://www.cnbcindonesia.com/news/20200312075307-4-144247/who-nyatakan-wabah-covid-19-jadi-pandemi-apa-maksudnya (Access: 15 October 2023).
Sriwinarti, A., & Artaningtyas, W. D. (2021). The Effect of Regional Original Income, Balanced Funds and Capital Expenditures on Financial Performance of Regency/City Governments in the Special Region of Yogyakarta in 2010-2019. RSF Conference Series: Business, Management and Social Sciences, 1(3), 157–165. https://doi.org/10.31098/bmss.v1i3.306
Sugianto, D. (2020) Pandemi Bikin Pendapatan Negara Seret, Pemerintah Harus Apa?, detikfinance. Link: https://finance.detik.com/berita-ekonomi-bisnis/d-5176599/pandemi-bikin-pendapatan-negara-seret-pemerintah-harus-apa (Access: 17 Oktober 2023).
Sugiyono. (2018). Metode Penelitian Kuantitatif. ALFABETA
Sugiyono. (2019). Metode Penelitian Kuantitatif, Kualitatif, dan R&D. ALFABETA
Sp, A. A., & Aris, M. A. (2022). The Impact of Regional Original Income, Capital Expenditure, and Economic Growth on the Financial Performance of Local Governments in the Surakarta Residency from 2015 to 2020. The International Journal of Business Management and Technology, 6(4).
Tempo (2022) Temuan Permasalahan Keuangan Negara Semester II 2021 oleh BPK. Link: https://data.tempo.co/data/1431/temuan-permasalahan-keuangan-negara-semester-ii-2021-oleh-bpk (Access: 16 October 2023).
Yuliansyah, R., Susanti, E. I., & Yanti, A. (2020). The Effect of Regional Original Revenue, Balance Funds, and Capital Expenditures on the Financial Performance of District Governments in West Java Province in 2013-2017. Advances in Economics, Business and Management Research, volume 127.
Yunita, N. W. (2020) Penyebab, Asal Mula, dan Pencegahan Virus Corona di Indonesia, detiknews. Link: https://news.detik.com/berita/d-4956764/penyebab-asal-mula-dan-pencegahan-virus-corona-di-indonesia (Access: 15 Oktober 2023).
World Health Organization (2019). World Health Organization. Link: https://www.who.int/health-topics/coronavirus (Access: 15 October 2023).
Zamzami, F., & Rakhman, F. (2023). Determinants of Local Government Financial Performance in Indonesia. Academic Journal of Interdisciplinary Studies, 12(5), 332–347. https://doi.org/10.36941/ajis-2023-0148
Zein, M. H. M., & Septiani, S. (2024). The Effect of Financial Performance on Capital Expenditure, Economic Growth, Human Development Index, and Poverty. General Management, 25(200), 188–202. https://doi.org/10.47750/QAS/25.200.20
Ardelia, I. N., Wulandari, H. K., Ernitawati, Y., & Dumadi, D. (2022). Pengaruh Pendapatan Asli Daerah, Belanja Modal Dan Dana Perimbangan Terhadap Kinerja Keuangan Pemerintah Daerah Studi Empiris Kabupaten Dan Kota Se-Eks Karesidenan Pekalongan Periode 2016-2020. Jurnal Aplikasi Akuntansi, 7(1), 60–80. https://doi.org/10.29303/jaa.v7i1.165
Aswar, K. (2019). Financial Performance of Local Governments in Indonesia. European Journal of Business and Management Research, 4(6). https://doi.org/10.24018/ejbmr.2019.4.6.164
Atmoko, C. A., & Khairudin, D. (2022). Dampak Pendapatan Daerah Dan Belanja Modal Terhadap Kinerja Keuangan Pemerintah Daerah. Jurnal Ilmiah Akuntansi Kesatuan. https://doi.org/10.37641/jiakes.v10i1.1295.
Awwaliyah, N. F., Agriyanto, R., & Farida, D. N. (2019). The effect of regional original income and balance funding on regional government financial performance. Journal of Islamic Accounting and Finance Research, 1(1), 25–46. https://doi.org/10.21580/jiafr.2019.1.1.3745
Badan Pemeriksa Keuangan Republik Indonesia (2022). Link: https://www.bpk.go.id/id (Access: 15 October 2023).
Basuki Agus Tri dan Prawoto Nano. (2016). Analisis regresi dalam penelitian ekonomi & bisnis (dilengkapi aplikasi SPSS & Eviews). PT RAJA GRAFINFO PERSADA.
Bougie Roger dan Sekaran Uma. (2019). Research Methods for Business: A Skill-Building Approach, 8/E. WILEY.
Digdowiseiso, K., Subiyanto, B., & Cahyanto, R. D. (2022). Pengaruh Pendapatan Asli Daerah, Dana Perimbangan, Dan Belanja Modal Terhadap Kinerja Keuangan Pemerintah Daerah. Fair Value: Jurnal Ilmiah Akuntansi Dan Keuangan, Vol. 4 (6). https://doi.org/10.32670/fairvalue.v4i6.1150 .
Fernandes, J., & Putri, S. (2022). Pengaruh Pendapatan Asli Daerah Dan Belanja Modal Terhadap Kinerja Keuangan Daerah Pada 19 Kabupaten/Kota Provinsi Sumatera Barat Tahun 2017-2020. Jurnal Revenue : Jurnal Ilmiah Akuntansi, 3, 198–209. https://doi.org/10.46306/rev.v3i1.102.
Halim Abdul dan Kusufi Muhammad Syam. (2014). Akuntansi Sektor Publik. SALEMBA EMPAT.
Iacuzzi, S. (2022). An appraisal of financial indicators for local government: a structured literature review. Journal of Public Budgeting, Accounting and Financial Management, 34(6), 69–94. https://doi.org/10.1108/JPBAFM-04-2021-0064
Mahajan, R., Lim, W. M., Sareen, M., Kumar, S., & Panwar, R. (2023). Stakeholder theory. Journal of Business Research, 166. https://doi.org/10.1016/j.jbusres.2023.114104.
Maulina, A., Alkamal, M., & Fahira, N. S. (2021). Pengaruh Pendapatan Asli Daerah, Dana Perimbangan, Belanja Modal, Dan Ukuran Pemerintah Daerah Terhadap Kinerja Keuangan Pemerintah Daerah. JISIMAR: Journal Of Information System, Applied, Management, Accounting And Research, 5(2), 390. https://doi.org/10.52362/jisamar.v5i2.373.
Mardiasmo. (2018). Akuntansi Sektor Publik. ANDI
Natalia Padang, N., & Suprapto Padang. (2023). Pengaruh Pendapatan Asli Daerah (Pad), Dana Perimbangan Dan Belanja Modal Terhadap Kinerja Keuangan Pemerintah Daerah Di Kabupaten/Kota Provinsi Sumatera Utara. JRAK: Jurnal Riset Akuntansi Dan Keuangan, 9(2). https://doi.org/10.54367/jrak.v9i2.
Nilam Kencana Ningrat, C. I., & Supadmi, N. L. (2019). Pengaruh Pendapatan Asli Daerah dan Belanja Modal Pada Kinerja Keuangan Pemerintah Daerah. E-Jurnal Akuntansi, 29(2), 683. https://doi.org/10.24843/eja.2019.v29.i02.p15
Nugroho, A., Yuliusman, Y., & Hernando, R. (2023). The Influence of Regional Original Income and Balancing Funds on The Financial Performance of District/City Governments in Jambi Province in 2018-2021. Jurnal Akuntansi & Keuangan Unja, 8(1), 23–34. https://doi.org/10.22437/jaku.v8i1.24128.
Pandoyo dan Moh. Sofyan. (2018). Metodologi Penelitian Keuangan dan Bisnis. IN MEDIA
Rafael, S. J. M., & Istianah, I. (2022). Comparative Analysis of Local Government’s Financial Performance Before and During the COVID-19 Pandemic. Jurnal Tata Kelola Dan Akuntabilitas Keuangan Negara, 8(2), 199–212. https://doi.org/10.28986/jtaken.v8i2.830
Rahman, A., Sirojuzalim, Lubis, I., & Pratomo, W. A. (2024). Income Inequality between Provinces in Indonesia. Jurnal Ekonomi Malaysia, 57(3), 59–74. https://doi.org/10.17576/JEM-2024-5703-05
Ramahdani, A. F., & Trisnaningsih, S. (2022). Pengaruh Ukuran Pemerintah Dan Pendapatan Asli Daerah (Pad) Terhadap Kinerja Keuangan Pada Pemerintah Kota Surabaya. Costing: Journal Of Economic, Business and Accounting, 6(1). https://doi.org/10.31539/costing.v6i1.3924
Ratnasari, D., & Meirini, D. (2022). Pendapatan Asli Daerah, Dana Perimbangan, Belanja Modal, Dan Silpa Dalam Pengaruhnya Kinerja Keuangan. JAK : Jurnal Akuntansi, 17 (1), 38-47. https://doi.org/10.37058/jak.v17i1.6737
Sari, N. M. D. P., & Mustanda, I. K. (2019). Pengaruh Ukuran Pemerintah Daerah, Pendapatan Asli Daerah Dan Belanja Modal Terhadap Kinerja Keuangan Pemerintah Daerah. E-Jurnal Manajemen Universitas Udayana, 8(8), 47-59. https://doi.org/10.24843/ejmunud.2019.v08.i08.p02.
Sari, N., Rojeston, B. N. M., Purba, R. A., Saragih, T. B., & Banjarnahor, W. (2020). Pengaruh Belanja Modal dan Dana Perimbagan Terhadap Kinerja Keuangan. Costing:Journal of Economic, Business and Accounting, 4 (1). https://doi.org/10.31539/costing.v4i1.1547
Syahrul Asfar, A., Akob, M., Ilyas, G. B., Anwar, Muh. A., Yusriadi, Umanailo, M. C. B., & Suprayitno. (2021). The Effect of Regional Original Income and Capital Expenditure Management against Economic Growth of Mamuju Central Regency through Performance Effectiveness Regional Finance. Proceedings of the International Conference on Industrial Engineering and Operations Management Sao Paulo, Brazil. https://doi.org/10.2991/aebmr.k.200309.034.
Sebayang, R. (2020) WHO Nyatakan Wabah COVID-19 jadi Pandemi, Apa Maksudnya?, CNBC Indonesia. Link: https://www.cnbcindonesia.com/news/20200312075307-4-144247/who-nyatakan-wabah-covid-19-jadi-pandemi-apa-maksudnya (Access: 15 October 2023).
Sriwinarti, A., & Artaningtyas, W. D. (2021). The Effect of Regional Original Income, Balanced Funds and Capital Expenditures on Financial Performance of Regency/City Governments in the Special Region of Yogyakarta in 2010-2019. RSF Conference Series: Business, Management and Social Sciences, 1(3), 157–165. https://doi.org/10.31098/bmss.v1i3.306
Sugianto, D. (2020) Pandemi Bikin Pendapatan Negara Seret, Pemerintah Harus Apa?, detikfinance. Link: https://finance.detik.com/berita-ekonomi-bisnis/d-5176599/pandemi-bikin-pendapatan-negara-seret-pemerintah-harus-apa (Access: 17 Oktober 2023).
Sugiyono. (2018). Metode Penelitian Kuantitatif. ALFABETA
Sugiyono. (2019). Metode Penelitian Kuantitatif, Kualitatif, dan R&D. ALFABETA
Sp, A. A., & Aris, M. A. (2022). The Impact of Regional Original Income, Capital Expenditure, and Economic Growth on the Financial Performance of Local Governments in the Surakarta Residency from 2015 to 2020. The International Journal of Business Management and Technology, 6(4).
Tempo (2022) Temuan Permasalahan Keuangan Negara Semester II 2021 oleh BPK. Link: https://data.tempo.co/data/1431/temuan-permasalahan-keuangan-negara-semester-ii-2021-oleh-bpk (Access: 16 October 2023).
Yuliansyah, R., Susanti, E. I., & Yanti, A. (2020). The Effect of Regional Original Revenue, Balance Funds, and Capital Expenditures on the Financial Performance of District Governments in West Java Province in 2013-2017. Advances in Economics, Business and Management Research, volume 127.
Yunita, N. W. (2020) Penyebab, Asal Mula, dan Pencegahan Virus Corona di Indonesia, detiknews. Link: https://news.detik.com/berita/d-4956764/penyebab-asal-mula-dan-pencegahan-virus-corona-di-indonesia (Access: 15 Oktober 2023).
World Health Organization (2019). World Health Organization. Link: https://www.who.int/health-topics/coronavirus (Access: 15 October 2023).
Zamzami, F., & Rakhman, F. (2023). Determinants of Local Government Financial Performance in Indonesia. Academic Journal of Interdisciplinary Studies, 12(5), 332–347. https://doi.org/10.36941/ajis-2023-0148
Zein, M. H. M., & Septiani, S. (2024). The Effect of Financial Performance on Capital Expenditure, Economic Growth, Human Development Index, and Poverty. General Management, 25(200), 188–202. https://doi.org/10.47750/QAS/25.200.20