Abdul Ghofar

Type of the article: Research Article

Abstract
This study examines the effect of contractual, asset pricing, and opportunistic motivations on choosing a fair value or cost model for investment properties, as well as how institutional ownership moderates the influence of these three motivations. This study was conducted on 100 companies with investment property accounts in ten sectors listed on the Indonesia Stock Exchange from 2018 to 2022, including 500 firm-year data observations. The study used logistic regression and moderated regression analysis to test the hypotheses. The results indicate that the three motivations explain the choice between fair value and cost models. However, institutional ownership plays an important moderating role. Contractual motivation and firm size as a proxy are positively related to fair value choice, contradicting political costs, as fair value can enhance asset value, potentially increasing opportunities for third-party financing. Asset pricing incentives and the ratio of market to book value as proxies for information asymmetries do not affect the choice because Indonesia is a developing country where investors tend to exhibit herding bias, meaning their information sources rely on issues rather than financial reports. As for opportunistic motivation, the gain arising from changes in the fair value of investment property for the bonus plan proxy is positively related to the fair value choice. In addition, institutional ownership can strengthen the influence of contractual and opportunistic motivations and weaken the influence of asset pricing motivation on selecting a fair value model.

Type of the article: Research Article

Abstract
The performance of public hospitals in Indonesia is becoming critical amid demands for high-quality care and resource constraints. The role of accreditation and managerial innovative capabilities (MIC) in driving performance, including through quality of care, still requires empirical evidence. This study aims to examine the influence of accreditation and MIC on Indonesian public hospital performance through service quality as a mediating variable. This study uses a quantitative survey-based approach, involving 136 respondents from various Public Service Agency hospitals in Indonesia. Data were collected from September 2024 to January 2025 using a combination of Google Forms and direct surveys conducted at public hospitals. Data were analyzed using SMART-PLS. The findings show that accreditation has a positive and significant influence on hospital performance (β = 0.499, t = 6.367, p = 0.000), as well as on service quality (β = 0.724, t = 20.477, p = 0.000). Service quality has a positive effect on performance (β = 0.417, t = 5.689, p = 0.000). Testing of indirect effects revealed partial mediation, meaning that accreditation influences hospital performance through service quality (β = 0.302, t = 6.046, p = 0.000). Surprisingly, however, MIC did not have a significant effect on hospital performance (β = 0.002, t = 0.035, p = 0.486). The R-squared value of 0.726 indicates moderate-to-substantial explanatory power. Thus, these findings confirm that the impact of accreditation becomes more meaningful when standards are internalized into continuous service quality improvements, making service quality important for enhanced hospital performance.

Acknowledgment
We acknowledge the support funding for the publication of this study from Endowment Fund for Education Agency LPDP Ministry of Finance of Republic Indonesia, Center for Higher Education Funding and Assessment (PPAPT), The Indonesian Education Scholarship Beasiswa Pendidikan Indonesia (BPI) Ministry of Higher Education, Science, and Technology of Republic Indonesia, awarded to Dahlia.