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All Journal International Journal of Public Health Science (IJPHS) Jurnal Ekonomi Pembangunan Signifikan : Jurnal Ilmu Ekonomi Wacana, Jurnal Sosial dan Humaniora Jurnal Pengabdian kepada Masyarakat Nusantara Journal of Development Economic and Social Studies (JDESS) Contemporary Studies in Economic, Finance and Banking (CSEFB) Islamic Economics and finance in Focus (IEFF)
Faishal Fadli, Faishal
Unknown Affiliation
Religion Humanities Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Environmental Science Health Professions Law, Crime, Criminology & Criminal Justice Social Sciences

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The Effect of Mobile Banking Service on the Saving Intentions of Generation Z Maharani, Syifa Nadhira; Fadli, Faishal
Contemporary Studies in Economic, Finance and Banking Vol. 4 No. 1 (2025)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/csefb.2025.04.1.14

Abstract

Over the last four years, Generation Z has shown little interest in saving. One of the reasons Jakarta's Generation Z has little interest in saving money is a lack of financial understanding. The aim of this research is to investigate, by employing dependent variables, the impact of the quality of Bank HIMBARA's mobile banking services on the saving interest of Generation Z from 2019 to 2023. This study used speed, security, trust, and utility as independent factors. Validity testing, reliability testing, hypothesis testing, and multiple linear regression are the analytical methodologies employed in this study, which used a sample of 130 members of Generation Z who had been using Bank HIMBARA's mobile banking for at least a year between 2019 and 2023.
The Impact of Inflation, Economic Growth, Health, and Education on Unemployment in Java (2014-2023) Herdiwiguna, Randi; Fadli, Faishal
Journal of Development Economic and Social Studies Vol. 4 No. 2 (2025)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/jdess.2025.04.2.19

Abstract

This study examines the impact of inflation, economic growth, health, and education on unemployment in Java from 2014 to 2023. Using panel data from six provinces in Java, the research employs a mutiple linear regresion model to analyze the relationship between these variables. The results indicate that economic growth and health have a significant negative impact on unemployment, while education has a significant positive impact. Inflation, however, does not show a significant effect on unemployment. These findings suggest that improving economic growth and health conditions can reduce unemployment, while the mismatch between education and labor market needs may increase unemployment. The study provides insights for policymakers to address unemployment through targeted economic and social policies.
Financial Inclusion and Poverty Alleviation in East Java: Evidence From SUSENAS 2023 With a Two-Stage Residual Inclusion (2SRI) Approach Ahmad Syaifullah; Khusaini, Moh.; Fadli, Faishal
Wacana Journal of Social and Humanity Studies Vol. 28 No. 3 (2025): WACANA, Jurnal Sosial dan Humaniora
Publisher : Sekolah Pascasarjana Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/ub.wacana.2025.028.03.03

Abstract

This research examines the impact of financial inclusion on household poverty status in East Java Province by analyzing microdata from the 2023 National Socioeconomic Survey (SUSENAS), with the household as the unit of analysis. The main objective of this study is to evaluate the extent to which access to and use of formal financial services can reduce the likelihood of households experiencing poverty. To address potential endogeneity in the financial inclusion variable, the Two-Stage Residual Inclusion (2SRI) method is used, with ownership of fixed assets such as land or houses (real estate) as an instrumental variable to strengthen causal identification.  The results show that financial inclusion significantly reduces households' probability of poverty. Specifically, access to digital financial services reduces the risk of poverty by 10.9%, and bank account ownership by 6.4%, while access to credit without adequate financial literacy actually increases the risk of poverty by 24.7%. The model successfully passes various diagnostic tests, including endogeneity (p < 0.01) and instrument relevance (first-stage F-statistic > 10), which strengthens the validity of the estimation results. Furthermore, the Average Marginal Effect (AME) analysis supports these findings, showing that digital financial services have the most significant negative marginal effect on poverty risk (?0.109), followed by account ownership (?0.064). In contrast, access to credit has a positive marginal effect (+0.247), indicating that unproductive credit use can increase household vulnerability. These findings underscore the importance of expanding access to inclusive and responsible financial services, particularly in rural and underserved areas. Improving public financial literacy and addressing spatial inequality are key to maximizing the poverty-reducing impact of financial inclusion. The study's findings provide relevant, evidence-based policy insights for designing more targeted, equitable, and contextualized poverty alleviation strategies in Indonesia. Keywords: Financial inclusion, Poverty alleviation, 2SRI, East Java, SUSENAS 2023
Market Reaction to Bond Rating Announcements: Evidence from Infrastructure Firms Nafisah, Silmy Maulan; Fadli, Faishal
Contemporary Studies in Economic, Finance and Banking Vol. 4 No. 3 (2025)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/csefb.2025.04.3.15

Abstract

Debt credibility signals through bond rating announcements are crucial information, especially for capital-intensive sectors such as infrastructure sector. This study examines the Indonesian infrastructure sector’s stock market reaction to bond rating announcements during 2023. Using an event study methodology with a 15-day event window on a sample of 14 companies, this research analyses actual and expected returns before and after the announcement event, as well as abnormal returns before, during, and after the announcement event. Abnormal returns are calculated as the difference between actual returns and expected returns that estimated using the market-adjusted model. The primary findings show no statistically significant abnormal returns before, during, or after the announcement date. Although data observations indicate a pattern of delayed market reactions, the effect is not strong enough to generate abnormal returns. This finding is consistent with the semi-strong form of the efficient market hypothesis, which implies that public information from bond rating announcements is anticipated and already fully reflected in stock prices.
Determinants of Bad Loans at Bank KBMI IV: Credit Restructuring Policies Roro Rahajeng Kusumaningtyas; Fadli, Faishal
Journal of Development Economic and Social Studies Vol. 4 No. 4 (2025)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/jdess.2025.04.4.14

Abstract

This research aims to analyze the impact of GDP, interest rates, credit, LDR, ROA, restructuring policies, and the Covid-19 pandemic on NPL of KBMI IV banks in Indonesia during the periods before and after the implementation of credit restructuring policies. This study employs the Error Correction Model (ECM) method based on quarterly secondary data from Q1 2017 to Q4 2023. The results show that in the long term, GDP, LDR, ROA, and credit restructuring policies have a significant effect on NPL, while interest rates and the pandemic do not have a significant impact. In the short term, only LDR and ROA are proven to significantly affect NPL. These findings highlight the importance of internal banking policies and macroeconomic conditions in maintaining credit quality and the stability of the banking system, especially pandemic.
Unpacking the Forces Behind Indonesia's Foreign Debt: What Drives Long-Term and Short-Term Borrowing? Fadli, Faishal; Sagita S, Vietha Devia; Oktaviana, Yulis
Signifikan: Jurnal Ilmu Ekonomi Vol. 13 No. 2 (2024)
Publisher : Faculty of Economic and Business, Universitas Islam Negeri Syarif Hidayatullah

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/sjie.v13i2.42464

Abstract

Research Originality: This research explores the factors influencing Indonesia's foreign debt, providing insights into the long-term and short-term effects of inflation, exchange rates, the Fed Funds Rate (FFR), budget deficit, and exports. The originality lies in the comprehensive analysis of these variables using time series data from 2005 to 2022.Research Objectives: This study examines the impact of key macroeconomic variables on Indonesia's foreign debt, analyzing both long-term and short-term relationships to inform policy and future research.Research Methods: The study uses time series data from 2005 to 2022, applying the Error Correction Model (ECM) with EViews10 to analyze the dynamic relationships between foreign debt and the influencing factors.Empirical Results: The study finds that in the long term, exchange rates and exports positively influence foreign debt, while inflation has a negative impact. In the short term, only the Fed Funds Rate (FFR) negatively affects foreign debt. All variables are significantly influential in both the short and long term.Implications: These findings highlight the importance of managing inflation, exchange rates, and exports in the long term while considering the short-term impact of global financial conditions, such as the FFR, on Indonesia's foreign debt.JEL Classification: F34, E44, E31, F41, H63, C32
Bimbingan Pembuatan Brand Identity UMKM di Kecamatan Wonosari Desa Sumbertempur Kabupaten Malang Jawa Timur Ananda, Candra Fajri; Fadli, Faishal
Jurnal Pengabdian kepada Masyarakat Nusantara Vol. 6 No. 1.1 (2024): Jurnal Pengabdian kepada Masyarakat Nusantara (JPkMN) SPECIAL ISSUE
Publisher : Lembaga Dongan Dosen

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Abstract

UMKM (Usaha Mikro, Kecil, dan Menengah) memiliki peran vital dalam ekonomi Indonesia, menciptakan lapangan kerja dan menyumbang pada pertumbuhan ekonomi nasional. Namun, mereka menghadapi tantangan seperti kesulitan akses pasar, modal, manajemen SDM, dan persaingan tidak sehat. Pandemi COVID-19 menghadirkan penurunan aktivitas bisnis, tetapi UMKM menunjukkan adaptasi dengan beralih ke platform online. Untuk mengatasi dampak pandemi, strategi baru diperlukan, termasuk bantuan soft credit, kerjasama dengan perusahaan besar, dan pengembangan produk unggulan. UMKM di pedesaan juga memainkan peran penting dalam mengembangkan ekonomi lokal. Dalam era digital, identitas merek menjadi kunci kesuksesan UMKM. Namun, banyak UMKM mengalami kesulitan dalam membangun identitas merek yang kuat karena keterbatasan pengetahuan dan sumber daya. Program bimbingan teknis dirancang untuk membantu UMKM dalam membangun identitas merek yang kuat, meningkatkan kemampuan mereka dalam pemasaran dan promosi. Tujuan program ini juga termasuk mempromosikan penggunaan teknologi dan inovasi dalam pengembangan UMKM serta melibatkan berbagai pemangku kepentingan. Diharapkan program ini akan berkontribusi pada pertumbuhan dan pengembangan UMKM di Indonesia serta menciptakan ekosistem bisnis yang inklusif dan berkelanjutan melalui kolaborasi lintas sektor. Sedangkan target luaran untuk pengabdian ini adalah publikasi jurnal nasional bereputasi SINTA 6, HAKI, Presentasi di Seminar Nasional, Publikasi Media Masa, dan Modul.
Analysis of the Influence Dow Jones Islamic Index and Macroeconomic Variables on the Jakarta Islamic Index Laleno, Farazdaq; Fadli, Faishal
Contemporary Studies in Economic, Finance and Banking Vol. 4 No. 4 (2025)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/csefb.2025.04.4.05

Abstract

This research seeks to examine the effect of the Dow Jones Islamic Index and macroeconomic variables on the Jakarta Islamic Index (JII) over the period from March 2019 to March 2024. A quantitative method is applied using the Error Correction Model (ECM) to explore both short-term dynamics and long-term equilibrium relationships among the variables. The findings indicate that, in the long run, DJIUS has a significantly negative influence on JII, while DJICHK exerts a significantly positive impact. Additionally, the COVID-19 dummy variable shows a notable negative effect. In the short run, however, none of the independent variables exhibit a significant effect on JII, although the significance of the error correction term (ECT) shows significant results.
Impact of the 2024 United States’ Presidential Election on the DJIA Index Putra, Aditia Dwi; Fadli, Faishal
Contemporary Studies in Economic, Finance and Banking Vol. 4 No. 4 (2025)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/csefb.2025.04.4.16

Abstract

Major global political shifts, such as the United States Presidential Election, inevitably trigger waves of economic uncertainty worldwide. Because of this inherent volatility, it becomes absolutely essential for market participants to deeply understand how capital markets respond to such high-stakes events. This research is dedicated to examining the specific impact of the 2024 US Presidential Election on the major companies listed within the Dow Jones Industrial Average (DJIA). Focusing on two critical variables, which is Average Abnormal Return (AAR) and Average Trading Volume Activity (ATVA), this study adopts a quantitative event study methodology. By applying a Paired Sample t-Test, the research analyzes data across a specific observation window, comparing the 14 days immediately preceding the election against the 14 days following it. The analysis yields a compelling insight. There was a statistically significant shift in AAR values, there was no corresponding significant change in ATVA. This distinction highlights that the market’s reaction is primarily visible through price adjustments rather than spikes in transaction volume. Ultimately, this suggests that investors holding blue-chip stocks manage political risk strategically through efficient asset revaluation rather than engaging in impulsive trading, proving the market's resilience.
Determinants of Capital Flight: Macroeconomic and Non-Macroeconomic Perspectives Taufik Hidayat; Fadli, Faishal
Contemporary Studies in Economic, Finance and Banking Vol. 5 No. 1 (2026)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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Abstract

Studies on capital flight in developing economies often lack comprehensive post-pandemic analysis for the ASEAN-5 region. This study fills this gap by analyzing the determinants of capital flight in Indonesia, Malaysia, Thailand, the Philippines, and Vietnam (2010–2023). Using the World Bank’s residual method and a Fixed Effect Model (FEM), the research examines the impact of the Current Account-to-Export Ratio (RCAE), Budget Deficit Ratio, Inflation, and Control of Corruption. Findings reveal that strong external capacity (RCAE) significantly mitigates capital flight, whereas monetary instability (Inflation) exacerbates it via flight-to-safety mechanisms. The Budget Deficit Ratio proves statistically insignificant, suggesting investors prioritize fiscal credibility over nominal deficits. A critical anomaly appears where improved Control of Corruption significantly increases capital flight; this indicates that better governance facilitates licit capital outflows (normal capital outflow) due to shallow domestic financial markets. Policymakers must prioritize external stability and deepen financial markets to retain liquidity generated by improved governance.
Co-Authors Ahmad Syaifullah Annisa, Raihan Cahya Bhaktiyana, Arif Kiyat Candra Fajri Ananda Fitrayansyah, Rudi Herdiwiguna, Randi Imam Fathoni Kristhiofan, Karen Laleno, Farazdaq Maharani, Syifa Nadhira Moh. Khusaini Nafisah, Silmy Maulan Oktaviana, Yulis Purnamasari, Natasya Yunior Putra, Aditia Dwi Roro Rahajeng Kusumaningtyas Sagita S, Vietha Devia Serdiliyani, Rochmanida Hana Sumantri, Vietha Devia Sagita Taufik Hidayat