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Investment Preference of Generation Z Between Physical and Digital Gold Based on Factors of Trust, Risk Perception, and Social Influence Putri, Chindi Oktafiani; Pangestuty, Farah Wulandari
Contemporary Studies in Economic, Finance and Banking Vol. 5 No. 1 (2026)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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Abstract

As digital natives, Generation Z has great potential in adopting digital-based investment instruments. However, the tendency to choose physical gold persists amid the growing popularity of digital gold investments, highlighting the need for an analysis of the factors influencing gold investment preferences among Generation Z. This study aims to analyze the effects of trust, risk perception, and social influence on Generation Z's probability of choosing digital gold investments over physical gold. The study uses a quantitative approach with a survey method through questionnaires targeting Generation Z individuals who have an interest or experience in gold investment. The sample was determined using purposive sampling, and the data were analyzed using binary logistic regression. The results of the study indicate that trust and social influence act as driving factors for digital gold investment preferences, while risk perception acts as an inhibiting factor. These findings confirm that Generation Z's gold investment preferences are influenced by psychological and social factors, and have implications for the development of digital gold investment services and educational strategies.
Analysis of the Determinants for Credit Distribution in Conventional and Digital Banks Listed in the Indonesian Stock Exchange Asyrafi, Muhammad Mirza; Farah Wulandari Pangestuty
Contemporary Studies in Economic, Finance and Banking Vol. 5 No. 1 (2026)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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Abstract

This research analyzes the factors that drive credit distribution in conventional and digital banking in Indonesia. Amidst the digital transformation era, this research specifically tests the credit policy determinants for both business models. Using separate panel data regres-sions on 26 banks during the 2020-2023 period, it was found that Third-Party Funds (DPK) is a main driver for both groups, confirming the basic intermediation function. However, a fundamental strategic difference was also identified: digital banks' credit distribution is significantly spurred by capital strength (CAR). Meanwhile, for conventional banks, the primary significant driver is the availability of customer funds (DPK), while the profitability incentive (NIM) was found to be insignificant. This finding implies that the strategy of digi-tal banks focuses on aggressive capital-based expansion, while conventional banks oper-ate more conservatively and traditionally.
Determination of Income Inequality: The Influence of Financial Inclusion, Economic Growth, And Human Capital Nabilla, Anisa Ayu; Pangestuty, Farah Wulandari
Contemporary Studies in Economic, Finance and Banking Vol. 5 No. 1 (2026)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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Abstract

This study aims to analyze the factors affecting income inequality (Gini Index), highlighting the roles of Financial Inclusion, Economic Growth (proxied by GRDP per capita), and Human Capital (proxied by the Human Development Index and the Open Unemployment Rate). The analytical method employed is panel data regression using a Fixed Effect Model (FEM). Based on the analysis of quarterly panel data from 6 cities in DKI Jakarta Province for the 2020-2022 period, the research yields the following results. The Financial Inclusion Index and the Human Development Index have a negative and significant effect on income inequality. Conversely, GRDP per capita has a positive and significant effect. However, the Open Unemployment Rate was found to have no significant impact on income inequality. These findings suggest that improvements in financial inclusion, economic growth, and human capital do not automatically guarantee equity in the DKI Jakarta Province. This study contributes to the empirical literature and offers policy recommendations for tackling the issue of income inequality in the DKI Jakarta Province.
The Effects of Market Capitalization, Trade Volume, and Profitability Ratio on the Stock Returns of Companies Listed on the IDX30 Linggi, Elsy Taruk; Pangestuty, Farah Wulandari
Contemporary Studies in Economic, Finance and Banking Vol. 5 No. 1 (2026)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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Abstract

This study evaluates how market capitalization, stock trading activity, and profitability levels contribute to the movement of stock returns of issuers included in the IDX30 index. This research was conducted because previous findings showed inconsistent results due to differences in periods and limitations in the sectors studied. The independent variables used include market capitalization, trading volume, profitability ratio (ROE), and dummy variables for the Covid-19 and post-Covid-19 periods. This study uses a quantitative approach by processing panel data, which is a combination of time series and cross-section data. Based on the selection of the best model, data analysis was performed using the Common Effect Model (CEM). The results of this study explain that trading volume has a positive and significant effect on stock returns, while market capitalization and profitability ratio do not have a significant effect. In addition, the Covid-19 and post-Covid-19 period variables also have a significant effect on stock returns, indicating that changes in macroeconomic conditions also determine the movement of large companies' stock returns. These findings imply that investors need to pay attention to trading activities trading and macroeconomic conditions in investment decision-making on IDX30 stocks.
Penguatan Identitas Digital dalam Strategi Pemasaran Pariwisata Berbasis Jaringan Mitra Desa Toyomarto, Singosari Aulia, Dynda Fadhlillah; Santoso, Dwi Budi; Pangestuty, Farah Wulandari
CARADDE: Jurnal Pengabdian Kepada Masyarakat Vol. 8 No. 3 (2026): April
Publisher : Ilin Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31960/caradde.v8i3.3219

Abstract

Program pengabdian ini bertujuan memperkuat identitas digital Desa Toyomarto dalam rangka meningkatkan efektivitas pemasaran pariwisata berbasis jaringan mitra. Kegiatan dilaksanakan dengan metode partisipatif melalui lokakarya perumusan citra desa wisata, pelatihan pemasaran digital untuk pemerintah desa, kelompok sadar wisata, Badan Usaha Milik Desa, pelaku usaha pariwisata, dan komunitas lokal, serta pendampingan intensif dalam pembentukan jejaring kemitraan dengan pemangku kepentingan eksternal. Hasil kegiatan menunjukkan terbentuknya identitas baru “Toyomarto Eco Heritage Gateway” yang memadukan narasi alam dan budaya, tersusunnya pedoman penggunaan identitas visual dan konten digital, peningkatan keterampilan pengelola dalam produksi dan pengelolaan konten, serta peningkatan keterhubungan dengan mitra seperti lembaga kreatif, penyedia layanan pemesanan perjalanan, dan media lokal. Penguatan identitas digital berkontribusi pada kenaikan keterpaparan destinasi di media sosial, peningkatan kunjungan wisatawan pada akhir pekan, dan pertumbuhan pendapatan unit usaha desa yang terkait pariwisata. Disimpulkan bahwa penguatan identitas digital berbasis potensi lokal yang diintegrasikan dengan pengembangan jaringan mitra merupakan strategi yang efektif untuk meningkatkan daya saing dan keberlanjutan pemasaran pariwisata Desa Toyomarto.
THE ROLE OF ICT DEVELOPMENT IN PROMOTING ASEAN REGIONAL ECONOMIC CONVERGENCE Prasetyia, Ferry; Pangestuty, Farah Wulandari; Ariestiningtyas, Dewanti Rahma; Hans, Michael
Jurnal Ilmu Ekonomi dan Pembangunan Vol 25, No 1 (2025): Jurnal Ilmu Ekonomi dan Pembangunan
Publisher : EP FEB UNS

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20961/jiep.v25i1.95514

Abstract

Economic growth convergence is one of the economic targets that ASEAN countries aim to achieve through various initiatives and regional cooperation. To realize economic convergence, technology and information play a crucial role in accelerating economic growth in each country or region. As there has not been much research discussing the economic convergence in the context of technology and information among Southeast Asian countries, this study aims to uncover how technological innovation acts as a catalyst for economic growth convergence among ASEAN-5. The study uses secondary data from five ASEAN countries (ASEAN-5) from 2000 to 2020, sourced from the World Bank. The Generalized Method of Moments (GMM) is used to estimate the influence of technological and information developments on economic growth in ASEAN countries. The analysis results indicate that mobile phones have extensively penetrated ASEAN countries. This includes various social and economic groups, including communities in rural or remote areas without stable internet access. Mobile phones, especially basic phones (feature phones), remain the primary tool for communication and information access in many developing countries, including those in ASEAN.