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This Author published in this journals
All Journal MANAJEMEN DEWANTARA International Journal of Economic, Business, Accounting, Agriculture Management and Sharia Administration (IJEBAS) Priviet Social Sciences Journal CMES (Center of Middle Eastern Studies)
Ahmad Fauzi
Universitas Bangka Belitung
Economics, Econometrics & Finance Education Environmental Science Law, Crime, Criminology & Criminal Justice Social Sciences

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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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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.
DETERMINANTS OF SHARIA FINTECH USE IN BANGKA BELITUNG: A TECHNOLOGY ACCEPTANCE MODEL APPROACH WITH TRUST AND RELIGIOUS COMPATIBILITY MODERATION Ahmad Fauzi; Muhammad Hayyi; Lana Alkhan
International Journal of Economic, Business, Accounting, Agriculture Management and Sharia Administration (IJEBAS) Vol. 6 No. 6 (2026): December - ON PROGRESS
Publisher : CV. Radja Publika

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Sharia financial technology (fintech) in Indonesia has considerable growth potential, yet its adoption remains relatively low compared with conventional fintech, particularly in regional areas. This study analyzes the factors influencing the intention to use Sharia fintech in the Bangka Belitung Islands Province by extending the Technology Acceptance Model (TAM) with trust and religious compatibility as moderating variables. A quantitative survey was conducted with 169 respondents, and the data were analyzed using Partial Least Squares-Structural Equation Modeling (PLS-SEM) in SmartPLS 4. The results show that perceived usefulness and perceived ease of use have positive and significant effects on attitude toward using, with perceived ease of use exerting the stronger effect. Attitude toward using also has a positive and significant effect on behavioral intention. However, neither trust nor religious compatibility significantly moderates the relationship between attitude and behavioral intention. These findings suggest that, among technology-literate respondents, technical and functional considerations are more influential in shaping Sharia fintech adoption than the additional normative factors examined. The study contributes to the extension of TAM and offers practical implications for developing Sharia fintech services that respond to local user needs.
Co-Authors Abdul Hafiz Aning Kesuma Putri, Aning Kesuma Berandi Suaryansyah Iis Azelya Lana Alkhan Muhammad Hayyi Muhammad Hayyi’ Lana Alkhan Syintia Mega Putri Willa Fatika Sari Zikri Rahmani