International Journal of Economics, Education, Law and Social Sciences (IJEELSC)
Vol. 2 No. 2 (2026): July

THE EFFECT OF IMPLEMENTING DIGITALIZATION SYSTEMS ON THE VALUE OF BANKING COMPANIES: A META-ANALYST

Virzi Mutmainah (Accounting Study Program, Faculty of Economics and Business, Universitas Pamulang, Indonesia)
Lovvani Noralia (Accounting Study Program, Faculty of Economics and Business, Universitas Pamulang, Indonesia)
Listya Sugiyarti (Accounting Study Program, Faculty of Economics and Business, Universitas Pamulang, Indonesia)



Article Info

Publish Date
30 Jul 2026

Abstract

This study was conducted with a meta-analysis to examine the influence of the digitalization system on the value of banking companies in Indonesia using secondary data from 19 SINTA and Scopus indexed journals for the 2020-2025 period. The sample consisted of 40-150 IDX banks with varying digitalization indicators (digital transaction ratio, digitization index, dummy implementation) and company value measurement using PBV, Tobin's Q, or market-to-book ratio. The analysis used a random effects model with Cohen's d to calculate the effect size. The results showed a moderate positive effect, namely Cohen's d = 0.42, 95% CI: 0.25-0.59, p<0.01 with a high heterogeneity of I²=82%, indicating inconsistency between studies. The influence is stronger in banks with a digitalization rate of >50%, the post-POJK period No. 12/POJK.03/2018 which is d=0.56, and banks in the BUKU 4 category which is d=0.62. No publication bias was found Egger's test p=0.12. This research strengthens the Growth Theory and recommends the adoption of a comprehensive digital strategy to increase the value of the company, with special attention to the efficiency of implementation and cyber risk management.

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Journal Info

Abbrev

ijeelsc

Publisher

Subject

Economics, Econometrics & Finance Education Law, Crime, Criminology & Criminal Justice Social Sciences

Description

International Journal of Economics, Education, Law and Social Sciences (IJEELSC) with registered number E-ISSN 3123-6383, is a peer-reviewed journal published two times a year by PT. ZILLZELL MEDIA PRIMA. IJEELSC is intended to be the journal for publishing articles reporting the results of research ...