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All Journal Jurnal Keuangan dan Perbankan Jurnal Manajemen dan Bisnis Sriwijaya Jurnal Manajemen Teori dan Terapan EKUITAS (Jurnal Ekonomi dan Keuangan) Economics and Finance in Indonesia International Journal of Business Studies Indonesian Capital Market Review Eduvest - Journal of Universal Studies
Irwan Adi Ekaputra
Department Of Management, Faculty Of Economics And Business, Universitas Indonesia
Aerospace Engineering Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Health Professions Neuroscience Social Sciences

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Journal : Eduvest - Journal of Universal Studies

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The Impact of Digital Payment on Banking Stability Bachri, Muthia Hanan; Ekaputra, Irwan Adi
Eduvest - Journal of Universal Studies Vol. 4 No. 9 (2024): Journal Eduvest - Journal of Universal Studies
Publisher : Green Publisher Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59188/eduvest.v4i9.30329

Abstract

Previous studies provides conclusions regarding the relationship between digital payments and banking stability in a particular country. Therefore, this research wants to see how the growth of digital payments impacts banking stability in 110 countries in the world from 2017 – 2022. This study explores the relationship between digital payments and banking stability using a panel data regression model. Digital payment transactions are proxied by the payment penetration ratio (PPR) while banking stability is proxied by the country's Z-score. This research found a negative correlation between digital payment transactions and banking stability in data from 110 countries. This is possible because of the risks arising from digital payment transactions. Overall, these findings support policies to increase secure payment transactions for banking stability.
Analysis of the Presence and Impact of Price Gap Anomaly on the Indonesian Stock Exchange Wilopo, Rinaldi; Ekaputra, Irwan Adi
Eduvest - Journal of Universal Studies Vol. 5 No. 8 (2025): Eduvest - Journal of Universal Studies
Publisher : Green Publisher Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59188/eduvest.v5i8.51416

Abstract

Price gap occurs when the opening price of a financial asset today is greater than the closing price of the previous day, signaling market’s initial sentiment and potential direction of price movement on the trading day. This study aims to explore the presence and characteristics of price gap anomalies and their potential exploitation to generate abnormal returns in the Indonesian stock market. The data used are 11 stock indices in the period 2015-2024 and the analysis is carried out using the multiple linear regression method to test the hypothesis. The results of the study indicate that price gap anomalies are confirmed in the Indonesian stock market, with positive price gaps tending to have more momentum effects than negative price gaps. Price gaps show short-term characteristics, where this anomaly does not affect the period after period of the anomaly. This study also explores the addition of volatility as a control variable in the regression model and finds the accuracy of the regression model by observing the increase in Adjusted R-Squared and Overall F-Test values. Finally, a trading strategy is formed to test the strategy's ability to generate abnormal returns that can beat the market in the Indonesian stock market. However, considering the transaction costs, the overall trading simulation results cannot generate returns that can beat market returns.
Co-Authors Ahmad, Basharat Ario Harsanto Arsya Javidiar Aryana Satrya Bachri, Muthia Hanan Bambang Sutrisno Deliana Deliana Harsanto, Ario Husodo, Zaafri Ananto Joy Gabriel, Joy Juliana, Rita Nurhayati, Immas Sally Dwijayanti Saputri, Nyimas Dewi Murnila Sherlim, Vincent Prayogi Sung Suk Kim Wilopo, Rinaldi Zaäfri Ananto Husodo