Syintia Mega Putri
Politeknik Caltex Riau

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THE INFLUENCE OF MACROECONOMICS ON BANKING STOCK RETURNS IN INDONESIA: A STUDY OF STATE-OWNED AND PRIVATE BANKS Willa Fatika Sari; Ahmad Fauzi; Iis Azelya; Muhammad Hayyi Lana Alkhan; Syintia Mega Putri
International Journal of Economic, Business, Accounting, Agriculture Management and Sharia Administration (IJEBAS) Vol. 6 No. 4 (2026): August
Publisher : CV. Radja Publika

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Abstract

This study examines the influence of macroeconomic variables on banking stock returns in Indonesia, with a comparative focus on state-owned and private banks. The macroeconomic variables analyzed include inflation, the BI Rate, and the rupiah exchange rate against the US dollar. This research applies a quantitative explanatory approach using monthly panel data from 2015 to 2025. The sample consists of six banking companies listed on the Indonesia Stock Exchange, namely three state-owned banks and three private banks, with a total of 792 observations. The data were analyzed using panel data regression through the Common Effect Model estimated by Ordinary Least Squares. The findings indicate that inflation, interest rates, exchange rates, and bank ownership simultaneously have a significant effect on banking stock returns. Partially, the BI Rate and exchange rate have a negative and significant effect on stock returns, while inflation has no significant effect. The ownership dummy shows no significant difference between the stock returns of state-owned and private banks. These results suggest that macroeconomic conditions, particularly interest rates and exchange rate movements, play a more dominant role in influencing banking stock returns than bank ownership characteristics. The study contributes to investment decision-making by highlighting the importance of monitoring monetary policy and exchange rate stability in assessing banking sector stock performance.
Pengaruh Kepemimpinan Transformasional, Work-Life Balance dan Pengembangan Karir Terhadap Retensi Milenial dan Gen-Z Melalui Kepuasan Kerja Syintia Mega Putri; Figo Alimbel; Ramadhana Aulia Wisdawati; Jodi Septiadi Akbar
JEMSI (Jurnal Ekonomi, Manajemen, dan Akuntansi) Vol. 12 No. 4 (2026): Agustus 2026
Publisher : Lembaga Komunitas Informasi Teknologi Aceh (KITA), Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35870/jemsi.v12i4.6517

Abstract

This study was conducted to examine the influence of Transformational Leadership, Work-Life Balance, and Career Development on Millennial and Gen-Z Retention through Job Satisfaction among banking employees in Pekanbaru City. The study used a quantitative approach. Quantitative data were obtained by distributing questionnaires to 100 Millennial and Gen-Z banking employees and analyzed using the Smart PLS 4 data processing system. The results showed that Transformational Leadership (β = 0.241; p = 0.004) means that Transformational Leadership has a positive and significant effect on Job Satisfaction, Work-Life Balance (β = 0.386; p = 0.000) means that Work-Life Balance has a positive and significant effect on Job Satisfaction, and the influence of Career Development (β = 0.419; p = 0.000) has a positive and significant effect on Job Satisfaction. Job Satisfaction was proven to have a very significant effect on Employee Retention with a path coefficient of (β = 0.567; p = 0.000). For the indirect influence of the mediation variable, it shows that Leadership has a positive and significant indirect influence on employee retention through Job Satisfaction with a coefficient value of 0.137. Then the Work-Life Balance variable shows a positive and significant indirect influence on employee retention through job satisfaction with a coefficient value of 0.219. And finally, Career Development has the greatest indirect influence on employee retention through job satisfaction with a coefficient value of 0.238. For the influence of Career Development, it is the variable with the highest level of results in increasing job satisfaction, followed by Work-Life Balance and Transformational Leadership. These findings provide practical implications for banking management to develop comprehensive retention strategies and policies with a focus on sustainable career development, work flexibility, and an inspirational leadership style to retain high-potential employee talent in the company.