Examining Fraud Hexagon on Fraudulent Financial Reporting in LQ45 Companies Listed on Indonesia Stock Exchange 2021–2024
DOI:
https://doi.org/10.55351/prajaiswara.v7i1.264Keywords:
Fraud Hexagon, Fraudulent financial reporting, Rationalization, Collusion, StimulusAbstract
Introduction/Main Objectives: This study aims to empirically prove the effect of fraud hexagon on fraudulent financial statements. The independent variables used in this study are stimulus, rationalization, opportunity, capability, arrogance, and collusion. Meanwhile, the dependent variable in this study is fraudulent financial statements. Research Methods: This study is a quantitative study. The population in this study consists of LQ45 companies listed on the Indonesia Stock Exchange for the period 2021-2024. The sample in this study was taken using purposive sampling with a sample size of 26 companies. The total observations were 104 observations, and after data processing, 1 outlier was found, so the total final observations were 103. The data analysis used in this study used secondary data sourced from the official website of the Indonesia Stock Exchange. The analysis technique used was multiple linear regression analysis with the assistance of SPSS software version 31.Finding/Results: The results of this study indicate that capability and collusion influence fraudulent financial reporting. Meanwhile, stimulus, rationalization, opportunity, and arrogance do not influence fraudulent financial reporting.
Metrics
References
ACFE. 2016. “Survai Fraud Indonesia.” Association of Certified Fraud Examiners Indonesia Chapter 1–62.
ACFE. 2019. “Survei Fraud Indonesia 2019.” Association of Certified Fraud Examiners Indonesia Chapter 1–76.
AICPA. 2018. “Consideration of Fraud in a Financial Statement Audit.” Audit and Accounting Guide 1(82):785–93. doi: 10.1002/9781119529088.app7.
CNBC. 2023. “Kejagung: Kerugian Korupsi Waskita Bisa Lebih Dari Rp 2,5 T.” CNBC Indonesia. Retrieved November 16, 2025 (https://www.cnbcindonesia.com/market/20230515161529-17-437482/kejagung-kerugian-korupsi-waskita-bisa-lebih-dari-rp-25-t).
Ghozali. 2018. Aplikasi Analisis Multivariete Dengan Program IBM SPSS 25. Semarang: Badan Penerbit Universitas Diponegoro.
Handoko, Bambang Leo. 2021. “Fraud Hexagon Dalam Mendeteksi Financial Statement Fraud Perusahaan Perbankan Di Indonesia.” Jurnal Kajian Akuntansi 5(2):176. doi: 10.33603/jka.v5i2.5101.
Idx. 2023. “Waskita Karya (WSKT) Dicurigai Poles Laporan Keuangan, Begini Respons BEI.” IDX Channel. Retrieved November 9, 2025 (https://www.idxchannel.com/market-news/waskita-karya-wskt-dicurigai-poles-laporan-keuangan-begini-respons-bei/all).
Jensen, Michael C., and William H. Meckling. 1976. “Theory of The Firm : Managerial Behavior, Agency Costs and Ownership Structure.” Journal of Financial Economics 3:305–60. doi: 10.1057/9781137341280.0038.
Kompasiana. 2024. “PT Waskita Karya: Terjerat Rekayasa Laporan Keuangan Dan Proyek Fiktif, Kerugian Negara Belum Terlunasi Sepenuhnya.” Kompasiana. Retrieved November 16, 2025 (https://www.kompasiana.com/ferliannuari6308/666d65a4c925c42c6f668de3/pt-waskita-karya-terjerat-rekayasa-laporan-keuangan-dan-proyek-fiktif-kerugian-negara-belum-terlunasi-sepenuhnya).
Matthew, Jason, Siregar, and Anitaria. 2024. “Analisis Pengaruh Fraud Hexagon Terhadap Fraudulent Financial Reporting Perusahaan Sektor Transportasi Dan Logistik Yang Terdaftar Di Bursa Efek Indonesia Pada Tahun 2019 – 2022.” Jurnal Ekonomi STIEP 9(1):108–20. doi: 10.54526/jes.v9i1.254.
Maulina, Neneng Sherly, and Zumratul Meini. 2023. “Pengaruh Fraud Hexagon Terhadap Fraudulent Financial Statement.” Jurnal Akuntansi Universitas Jember 21(2):97. doi: 10.19184/jauj.v21i2.38169.
Mukaromah, Ima, and Gideon Setyo Budiwitjaksono. 2021. “Fraud Hexagon Theory Dalam Mendeteksi Kecurangan Laporan Keuangan Pada Perbankan Yang Terdaftar Di Bursa Efek Indonesia Tahun 2015-2019.” Jurnal Ilmiah Komputerisasi Akuntansi 14(1):61–72.
Nasution, Gong Matua, Dy Ilham Satria, Razif, and Rayyan Firdaus. 2024. “Analisis Pengaruh Fraud Hexagon Terhadap Fraudulent Financial Reporting Menggunakan Beneish Ratio Index Pada Perusahaan Asuransi Yang Terdaftar Di BEI 2017-2021.” Jurnal Akuntansi Malikussaleh 3(1):1–21.
Rahayu, Isna Yuni, and Endah Susilowati. 2025. “Presepsi Teori Fraud Hexagon Terhadap Fraudulent Financial Statement.” Jambura Economic Education Journal 7(1):373–89.
Sagala, Samuel Gevanry, and Valentine Siagian. 2021. “Pengaruh Fraud Hexagon Model Terhadap Fraudulent Laporan Keuangan Pada Perusahaan Sub Sektor Makanan Dan Minuman Yang Terdaftar Di BEI Tahun 2016-2019.” Jurnal Akuntansi 13(2):245–59. doi: 10.28932/jam.v13i2.3956.
Suryani, Elly, and Rizky Rahmansyah Fajri. 2022. “Fraud Triangle Perspective: Artificial Neural Network Used in Fraud Analysis.” Quality - Access to Success 23(188):154–62. doi: 10.47750/QAS/23.188.22.
Tempo.Co. 2023. “ArsipKasus Waskita Karya, Akibat Beban Berat Penugasan Infrastruktur Dan Besar Celah Korupsi?” Tempo.Co. Retrieved October 31, 2025 (https://www.tempo.co/arsip/kasus-waskita-karya-akibat-beban-berat-penugasan-infrastruktur-dan-besar-celah-korupsi--191833).
Wulandari, Adisti. 2021. “Stelsel Dalam Pemungutan Pajak, Kendala Dalam PemungutanPajak, Bentuk Perlawanan Pajak, Pihak Yang Terkait DalamPerpajakan, Dan Penggolongan Pajak.” Jurnal Akuntansi 13.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2026 Jurnal Prajaiswara
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
accreditation
Announcements
CALL FOR PAPER
The Editorial Board of Jurnal Prajaiswara extends a formal invitation to scholars, researchers, academic institutions, governmental entities, key stakeholders, and practitioners to submit high-quality scholarly manuscripts including original research papers and review articles for inclusion in Volume 7, Issue 2, scheduled for publication in August 2026.
