JURNAL MANAJEMEN MOTIVASI
Vol 22 No 2 (2026): Jurnal Manajemen Motivasi

The Effect of Fintech Payment Development on Firm Value in the Indonesian Banking Sector with Profitability as a Mediating Variable

Eine Kiswah Aljannah (Unknown)
Luqman Hakim (Unknown)

Article Info

Publish Date
03 Oct 2026

Abstract

This study examines fintech payment development (FBIR) and firm value (PBV), with profitability (ROA) as a mediator and firm size as a control. Data comprise 125 observations from 25 Indonesian listed conventional banks in KBMI groups 2–4 during 2020–2024. Fixed effects panel regression and the Sobel test reveal no statistically significant effects of FBIR on ROA or PBV, or of ROA on PBV. Profitability does not significantly mediate the relationship. Firm size positively and significantly affects ROA. Robustness checks support these findings, indicating insufficient evidence linking fintech payment development to profitability and market valuation within the sample. Keywords: Fintech Payment; Bank Value; Financial Performance; Firm Size; Digital Banking; Digital Investment

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Journal Info
JURNAL MANAJEMEN MOTIVASI
Website

Abbrev

jm_motivasi

Publisher

Universitas Muhammadiyah Pontianak

Subject

Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

Description

Jurnal Manajemen Motivasi (JMM) adalah Jurnal Ilmiah Fakultas Ekonomi dan Bisnis Universitas Muhammadiyah Pontianak yang diterbitkan secara berkala 2 (dua) kali dalam satu tahun (Juni dan Oktober) sebagai sarana untuk menyebarluaskan hasil penelitian dan ilmu pengetahuan di bidang ilmu manajemen ...