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All Journal Optimal: Jurnal Ekonomi dan Manajemen
Sholihin Hasan
Institut Agama Islam Al Muhammad Cepu

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Analisis Spread Gold dalam Pengambilan Keputusan Investasi di Aplikasi Byons by BSI Sholihin Hasan; Muhammad Husaini; Eko Haryono
OPTIMAL Jurnal Ekonomi dan Manajemen Vol. 4 No. 4 (2024): Desember : Jurnal Ekonomi dan Manajemen
Publisher : Lembaga Pengembangan Kinerja Dosen

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55606/optimal.v4i4.10635

Abstract

The digital transformation in the financial sector has driven the development of application-based gold investment (digital gold), one of which is facilitated through the Byons platform by Bank Syariah Indonesia (BSI). Although it offers accessibility and ease of transactions, the existence of a price spread the difference between the buy and sell Prince represents an implicit cost that has the potential to influence users’ behavior and investment decisions. This study aims to analyze the effect of the gold spread on investment decision-making among Byons by BSI users, as well as to explain the psychological and economic mechanisms underlying investors’ responses to changes in the spread. This research employs a quantitative approach with an explanatory survey design, supported by secondary data analysis of historical gold prices and spreads from 2022 to 2024. Data were analyzed using multiple linear regression, mediation testing, and transaction cost sensitivity analysis. The results indicate that the spread has a significant negative effect on: transaction frequency, decision-making speed, and investment satisfaction. Furthermore, financial literacy mediates the relationship between spread and investment decisions, while perceived platform transparency moderates this relationship. These findings imply the need for enhanced spread transparency, transaction cost simulations, and user education to support more rational investment decisions.
Co-Authors Eko Haryono Muhammad Husaini