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All Journal JEKAMI: Journal of Accounting IECON: International Economics and Business Conference
Husnaeda
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Economics, Econometrics & Finance

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Analysis of the Level of Trust of Students of Universitas Muhammadiyah Makassar towards the Security of Using Qris (Quick Response Code Indonesian Standard) as a Digital Exchange Tool Husnaeda; A. Ifayani Haanurat; Andi Mappatompo
IECON: International Economics and Business Conference Vol. 3 No. 2 (2025): International Conference on Economics and Business (IECON-3)
Publisher : www.amertainstitute.com

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.65246/jzr4zb03

Abstract

The development of information and communication technology, especially in digital payment systems, has changed the way financial transactions are conducted in Indonesia. Quick Response Code Indonesian Standard (QRIS), introduced by Bank Indonesia in 2019, has become one of the popular innovations among students. This study aims to analyze the level of trust of Muhammadiyah Makassar University students in the security of using QRIS as a digital currency. The research method used is a qualitative approach with in-depth interviews and observations of students who have used QRIS. The results showed that students have a fairly high level of trust in QRIS, which is influenced by practicality factors, service provider reputation, and the influence of the social environment. Despite concerns regarding security risks, students tend to see QRIS as a safe and efficient payment solution. In conclusion, to increase user trust, continuous education and socialization regarding the security and benefits of QRIS are needed.
Political and Geopolitical Risks in Multinational Capital Budgeting: A Systematic Review and Integrated Risk–Strategy Framework Husnaeda; Irpan; Muchriana Muchran; Muh. Rum
JEKAMI Journal of Accounting Vol. 6 No. 1 (2026): January 2026
Publisher : Pustaka Digital Indonesia

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Abstract

Cross-border investment decisions by multinational corporations are increasingly shaped by political and geopolitical uncertainties in the global environment. This study aims to examine the concept of multinational capital budgeting, identify key cross-country investment risks, and analyze risk mitigation strategies through a systematic literature review (SLR). A total of 48 peer-reviewed articles published between 2020 and 2025 were analyzed following PRISMA guidelines. The findings reveal five dominant dimensions of risk affecting multinational investment decisions: political risk, geopolitical risk, exchange rate risk, country risk, and economic policy uncertainty. Among the identified strategies, the risk-adjusted discount rate is the most widely applied approach (66.7%), followed by the real options approach (31.3%) and scenario analysis (29.2%). Empirical synthesis indicates that a 1% increase in geopolitical risk index is associated with a 5.79% decline in foreign direct investment (FDI), highlighting the sensitivity of investment flows to global uncertainty. However, political stability and financial development significantly moderate this negative impact, reducing it by up to 60–70%. This study contributes by developing an integrated decision framework that maps risk profiles to appropriate capital budgeting strategies. The findings suggest that no single method is universally optimal; instead, the effectiveness of capital budgeting techniques depends on risk characteristics, institutional quality, and firm capabilities. The study offers both theoretical insights and practical guidance for financial managers and policymakers in navigating investment decisions under uncertainty.
Investor Trust in Securities Depository Institutions: A Phenomenological Literature Review in Emerging Capital Markets Budi Mawan Aris; Husnaeda; Irpan; Muchriana Muchran; A. Ifayani Haanurat
JEKAMI Journal of Accounting Vol. 6 No. 1 (2026): January 2026
Publisher : Pustaka Digital Indonesia

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Abstract

This study aims to systematically examine and synthesize existing literature on investor trust in depository institutions within capital markets. Employing a qualitative literature review approach, this research integrates findings from prior empirical and conceptual studies to identify key determinants, theoretical perspectives, and emerging patterns related to trust formation. The analysis focuses on how investors perceive the role of depository institutions in ensuring the security, transparency, and reliability of securities ownership and transaction settlement systems. The results indicate that investor trust is primarily shaped by service quality, institutional reputation, system reliability, information transparency, and regulatory support. In particular, technological stability, secure electronic depository systems, and timely settlement processes significantly enhance investor confidence. Furthermore, trust is conceptualized as a multidimensional construct encompassing perceived security, legal certainty, and confidence in institutional integrity and professionalism. The findings also highlight that positive user experience and consistent system performance strengthen long-term trust, while system failures and lack of transparency may erode investor confidence. This study underscores the strategic role of depository institutions as a critical infrastructure in maintaining market integrity and fostering investor participation. By consolidating fragmented literature, this review contributes to the development of a comprehensive understanding of trust in capital market institutions and provides implications for policymakers and practitioners in improving service quality, regulatory frameworks, and technological resilience to sustain investor trust and market stability.
Co-Authors A Ifayani Haanurat Andi Mappatompo Budi Mawan Aris Irpan Muh. Rum