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<![CDATA[The Impact of Global and Domestic Factors on Nickel Company Stock Prices in Indonesia (2020-2023) ]]>
<![CDATA[Putri, Indriani]]>;
<![CDATA[Prasetyo, Yoyok]]>;
<![CDATA[Ernawati, Nani]]>
<![CDATA[ Jurnal Ilmu Keuangan dan Perbankan (JIKA) Vol. 15 No. 1: Desember 2025 ]]>
Publisher : <![CDATA[Program Studi Keuangan & Perbankan, Fakultas Ekonomi dan Bisnis, Universitas Komputer Indonesia ]]>
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DOI: 10.34010/jika.v15i1.14084
<![CDATA[This study aims to empirically examine the effect of world nickel prices, global economic policy uncertainty, inflation, interest rates, and rupiah exchange rates on the stock prices of nickel companies in Indonesia for the period 2020-2023. This study uses secondary data from several sources, namely the Indonesia Stock Exchange (IDX), London Metal Exchange, Economic Policy Uncertainty, Central Bureau of Statistics, and Bank Indonesia. The purposive sampling method was used for sampling in this study so that the sample studied consisted of 6 nickel companies in Indonesia in a monthly period during the period 2020-2023. The variables in this study were analyzed using multiple regression methods. The results showed that the variables of world nickel prices, global economic policy uncertainty, inflation, interest rates, and rupiah exchange rates simultaneously affect the stock price of nickel companies. Then the variables of world nickel prices, global economic policy uncertainty, and interest rates partially affect the stock price of nickel companies. At the same time, the variables of inflation and rupiah exchange rate have no partial effect on the stock price of nickel companies. Keywords: World Nickel Prices; Global Economic Policy Uncertainty; Inflation; Interest Rates; Rupiah Exchange Rate]]>
<![CDATA[Determinants of Bitcoin Returns: An Analysis of Bitcoin Information, Macroeconomics, and Other Cryptocurrency Markets ]]>
<![CDATA[Sihombing, Septiana]]>;
<![CDATA[Sahputri, Rindi Ardika Melsalasa]]>;
<![CDATA[Ali, Hendrik]]>;
<![CDATA[Njoman, Muhamad Galy]]>;
<![CDATA[Lumbantoruan, Ronaldo Fransiskus]]>;
<![CDATA[Syafitri, Ezzy]]>
<![CDATA[ Jurnal Ilmu Keuangan dan Perbankan (JIKA) Vol. 15 No. 1: Desember 2025 ]]>
Publisher : <![CDATA[Program Studi Keuangan & Perbankan, Fakultas Ekonomi dan Bisnis, Universitas Komputer Indonesia ]]>
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DOI: 10.34010/jika.v15i1.15753
<![CDATA[The bitcoin market has exhibited highly volatile return movements, experiencing a sharp surge starting from in November 2022 to 2024. This significant fluctuation underscores the importance of analyzing the factors influencing bitcoin’s return dynamics. This study utilizes daily data with a final sample of 590 observations. All time-series variables must be stationary before being processed in the statistical model. The analysis was conducted using Stata 16 software. To ensure the absence of unit roots, the stationarity of the research variables was tested using the Augmented Dickey-Fuller (ADF) and Phillips-Perron (PP) tests. The findings indicate that market capitalization, gold, and litecoin have no significant impact on bitcoin returns. In contrast, miners’ revenue has a significant negative effect, while hashrate, mining difficulty, and the S&P 500 exhibit a significant positive influence on bitcoin returns. This study highlights bitcoin’s role as a store of value and investment asset, emphasizing the impact of hashrate and mining difficulty on its returns and integration into financial markets, particularly the S&P 500. The findings provide insights for investors on portfolio diversification and assets like a gold and equities. Additionally, the study underscores the importance of sustainable mining practices and regulatory policies to balance cryptocurrency’s economic potential with environmental sustainability. Keywords: Market capitalization; Mines’s Revenue; Hashrate; Mining difficulty; Commodity Asset, Cryptocurrency]]>
<![CDATA[Bitcoin vs Mutual Funds : which is more profitable? ]]>
<![CDATA[Hardiyanti, Siti Epa]]>
<![CDATA[ Jurnal Ilmu Keuangan dan Perbankan (JIKA) Vol. 15 No. 1: Desember 2025 ]]>
Publisher : <![CDATA[Program Studi Keuangan & Perbankan, Fakultas Ekonomi dan Bisnis, Universitas Komputer Indonesia ]]>
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DOI: 10.34010/jika.v15i1.16410
<![CDATA[The phenomenon of increasing public interest in investing in crypto assets, especially Bitcoin, has raised major questions about its feasibility and profitability compared to conventional investment instruments such as mutual funds. This study aims to compare the profitability and risk levels between Bitcoin as a cryptocurrency asset and mutual funds as traditional financial instruments. Although Bitcoin has gained increasing popularity as an alternative investment, there remains a lack of empirical research directly comparing its performance with mutual funds over an equivalent time horizon. Using a quantitative approach, this study analyzes historical monthly data from 2015 to 2024. Metrics such as cumulative return, average monthly return, CAGR, Sharpe Ratio, and maximum drawdown were employed to evaluate the performance of both instruments. Positioned within the existing literature on asset comparison, this study offers a novel empirical contribution by directly contrasting Bitcoin and mutual funds through risk-return analysis. The findings reveal that while Bitcoin offers significantly higher returns, it also carries much greater volatility and drawdown risk. These insights serve as a practical foundation for designing investment strategies aligned with different investor risk profiles. The research contributes to the body of knowledge in portfolio management and data-driven investment decision-making. Keywords: Bitcoin, mutual funds, risk-return, volatility, investment performance, portfolio management ]]>
<![CDATA[SLR on Geopolitical Risk, Commodities, Crypto, and Stocks ]]>
<![CDATA[Lubis, Iman]]>;
<![CDATA[Hamidah, Hamidah]]>;
<![CDATA[Ulupui, I Gusti Ketut Agung Ulupui]]>
<![CDATA[ Jurnal Ilmu Keuangan dan Perbankan (JIKA) Vol. 15 No. 1: Desember 2025 ]]>
Publisher : <![CDATA[Program Studi Keuangan & Perbankan, Fakultas Ekonomi dan Bisnis, Universitas Komputer Indonesia ]]>
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DOI: 10.34010/jika.v15i1.16483
<![CDATA[This study conducts a Systematic Literature Review (SLR) to explore the impact of Geopolitical Risk (GPR) on financial markets, focusing on stock returns, gold, oil, and cryptocurrencies. Motivated by increasing global tensions and the complexity of cross-asset dynamics, the study aims to synthesize empirical evidence from 64 peer-reviewed journals published between 2020 and 2025. Using PRISMA guidelines, the review identifies five dominant themes: the role of gold and crypto as safe havens, sectoral and regional asymmetries in GPR spillovers, and the moderating role of ESG in crisis periods. Findings show that GPR intensifies volatility and spillover effects, especially during systemic crises, with different asset reactions under geopolitical versus economic shocks. Gold remains a relatively reliable hedge, while crypto offers short-term diversification with high uncertainty. Methodological gaps, such as the underuse of non-linear models and lack of studies in emerging markets, are also highlighted. The study contributes to global finance literature by mapping asset behavior under geopolitical stress and suggesting future research directions using advanced modeling in underexplored regions. Keywords: Geopolitical Risk; Gold; Oil; Cryptocurrency; Financial Volatility]]>
<![CDATA[The Role of Crowdfunding in Fostering Entrepreneurship and Catalyzing Investment: A National Platform Model for Supporting Startups in Iraq ]]>
<![CDATA[Al-Hchemi, Laith Haleem]]>
<![CDATA[ Jurnal Ilmu Keuangan dan Perbankan (JIKA) Vol. 15 No. 1: Desember 2025 ]]>
Publisher : <![CDATA[Program Studi Keuangan & Perbankan, Fakultas Ekonomi dan Bisnis, Universitas Komputer Indonesia ]]>
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DOI: 10.34010/jika.v15i1.17019
<![CDATA[This research aims to explore the possibility of using crowdfunding as a tool to promote entrepreneurship and investment in Iraq by presenting a national platform model that combines private funding and government support. The research looks into the ability of crowdfunding to transform unused savings in banking channels into productive investments that support projects, raise investment awareness and reduce unemployment rates. The research highlights the structural challenges of the Iraqi economy including weak digital infrastructure, absence of regulatory and legislative frameworks and low trust between citizens and financial and banking institutions. The study used a critical analytical methodology combining literature review and analysis of international successful experiences based on quantitative and qualitative data and a review of the most famous global crowdfunding platforms. The results showed that crowdfunding provides flexible financing options for emerging projects, investment and financial inclusion and the importance of the proposed model as a development tool. Therefore the research recommends to adopt this model as a solution to the current economic problems. Keywords: Crowdfunding; Entrepreneurship; Investment; Digital Transformation; Fintech]]>
<![CDATA[The Influence of Ease, Security, and Benefits on the Decision to Use QRIS Payments in the Digital Era among Generation Z ]]>
<![CDATA[Khairiah, Nada]]>;
<![CDATA[Sari, Dessy Handa]]>;
<![CDATA[Ramli, Ramli]]>
<![CDATA[ Jurnal Ilmu Keuangan dan Perbankan (JIKA) Vol. 15 No. 1: Desember 2025 ]]>
Publisher : <![CDATA[Program Studi Keuangan & Perbankan, Fakultas Ekonomi dan Bisnis, Universitas Komputer Indonesia ]]>
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DOI: 10.34010/jika.v15i1.17447
<![CDATA[This study aims to analyze the influence of ease, security, and perceived benefits on the decision to use the Quick Response Code Indonesian Standard (QRIS) as a digital payment method among Generation Z in Penajam Paser Utara in 2025. The background of this research is the increasing adoption of digital technology in economic activities, including non-cash payment systems. QRIS is considered an efficient, secure, and practical solution to support the cashless lifestyle, especially among the younger generation. A quantitative approach was employed using a survey method involving 344 Generation Z respondents. Data were analyzed using Partial Least Square-Structural Equation Modeling (PLS-SEM) with SmartPLS 3.0 software. The results show that ease of use, security, and perceived benefits have a significant influence on the decision to use QRIS. Key driving factors include transaction simplicity, data security perceptions, and the perceived usefulness of QRIS in improving efficiency. These findings emphasize the importance of technological innovation in financial services and highlight the need for education and development of digital payment systems that are easy, safe, and beneficial, in order to improve financial inclusion in Indonesia. Keywords: QRIS; Ease; Security; Perceived Benefits; Generation Z; Digital Payment]]>
<![CDATA[Framing Effect, Loss Aversion, and Self-Control in Gen Z Investment ]]>
<![CDATA[Gusni, Gusni]]>;
<![CDATA[Nurbahira, Rahma]]>
<![CDATA[ Jurnal Ilmu Keuangan dan Perbankan (JIKA) Vol. 15 No. 1: Desember 2025 ]]>
Publisher : <![CDATA[Program Studi Keuangan & Perbankan, Fakultas Ekonomi dan Bisnis, Universitas Komputer Indonesia ]]>
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DOI: 10.34010/jika.v15i1.17467
<![CDATA[Investment decisions are a complex process influenced by various psychological and behavioral factors, particularly among younger generations. In the capital market, these decisions are shaped by investor behavior in allocating funds to achieve future returns. Since investment is a long-term commitment, thorough analysis is essential, especially in managing potential risks. This study explores the influence of the framing effect, loss aversion, and self-control on the investment decisions of Generation Z. The research subjects consisted of Widyatama University students who are active investors, selected using the Tabachnick & Fidell method. This study employs multiple linear regression analysis to examine the relationships between variables. The findings indicate that the framing effect, loss aversion, and self-control positively impact the investment decisions of Generation Z students at Widyatama University. These results offer valuable insights for capital market policymakers to mitigate behavioral biases among young investors, helping to minimize negative effects on market volatility.]]>
<![CDATA[Digital-Based Green Accounting and Its Impact on Financial Performance ]]>
<![CDATA[Napisah, Lilis Saidah]]>;
<![CDATA[Harto, Budi]]>;
<![CDATA[Anna, Yane Devi]]>
<![CDATA[ Jurnal Ilmu Keuangan dan Perbankan (JIKA) Vol. 15 No. 1: Desember 2025 ]]>
Publisher : <![CDATA[Program Studi Keuangan & Perbankan, Fakultas Ekonomi dan Bisnis, Universitas Komputer Indonesia ]]>
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DOI: 10.34010/jika.v15i1.17295
<![CDATA[Digital consumer behavior has changed as a result of the growth of global e-commerce, which has also increased attention to sustainable business practices. However, there are many research gaps because companies do not understand the influence of consumer perceptions on financial performance and the lack of stakeholder involvement in supporting green accounting in the e-commerce sector. Using an explanatory quantitative method based on Structural Equation Modeling (SEM) with a Partial Least Squares (PLS) approach, this study aims to address these gaps by examining how the implementation of green accounting positively and significantly impacts financial performance (path coefficient 0.435) and digital consumer perceptions. Profitability is the primary measure of financial performance, while indicators such as resource efficiency and carbon emissions reporting are proven to be dominant in shaping consumer perceptions. These results reinforce the relationship between Signal and Stakeholder theories, emphasizing the importance of sustainability transparency as a tool for communicating with digital consumers. This study contributes to research on digital marketing and sustainable accounting by providing practical guidelines for e-commerce businesses on how to optimize the adoption of green accounting to enhance financial performance and boost consumer trust. Keywords: Green Accounting; Financial Performance; Digital Consumer Perception; Sustainability Transparency; E-Commerce]]>
<![CDATA[Implementation of Islamic Trust and Moral Values in Islamic Bank Frontliner Services ]]>
<![CDATA[Darma, Aswin Fahmi Darma]]>;
<![CDATA[Guffar, M. Guffar Harahap]]>;
<![CDATA[Ami, Ami Nullah Marlis Tanjung]]>;
<![CDATA[Nur'ain, Nur'ain Harahap]]>
<![CDATA[ Jurnal Ilmu Keuangan dan Perbankan (JIKA) Vol. 15 No. 1: Desember 2025 ]]>
Publisher : <![CDATA[Program Studi Keuangan & Perbankan, Fakultas Ekonomi dan Bisnis, Universitas Komputer Indonesia ]]>
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DOI: 10.34010/jika.v15i1.17775
<![CDATA[The development of Islamic banking is marked not only by the expansion of financial services but also by the strengthening of Islamic values in service practices. This study is motivated by the gap between the ideal implementation of Sharia values and the actual performance of frontliners at BTPN Syariah, particularly concerning trustworthiness and Islamic ethics. The purpose of this research is to analyze the implementation of trust and ethical behavior in services and to evaluate their consistency in daily operational activities. This study employs a qualitative approach, using observation, interviews, and documentation, with validity ensured through triangulation. The findings indicate that trust is manifested through transparent information sharing, honesty in explaining products, and safeguarding customer confidentiality. Islamic ethics are evident in friendly, patient, and courteous interactions. However, challenges arise during peak hours, where information is often conveyed hurriedly. The novelty of this research lies in its focus on the spiritual and ethical dimensions of frontliner service, contrasting previous studies that primarily emphasized technical service aspects. The contribution of this study provides a strategic foundation for Islamic banks to strengthen an organizational culture grounded in Islamic values. Keywords: Trust; Morals; Frontliner Service; BTPN Syariah; Islamic Ethics]]>
<![CDATA[Stock Price Determination at Bank Pembangunan Daerah Jawa Barat (BJB) ]]>
<![CDATA[Farezi, Ryan]]>;
<![CDATA[Devia, Vietha Devia]]>
<![CDATA[ Jurnal Ilmu Keuangan dan Perbankan (JIKA) Vol. 15 No. 1: Desember 2025 ]]>
Publisher : <![CDATA[Program Studi Keuangan & Perbankan, Fakultas Ekonomi dan Bisnis, Universitas Komputer Indonesia ]]>
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DOI: 10.34010/jika.v15i1.17874
<![CDATA[Stock price fluctuations are one of the factors that affect and challenge investors. In addition, investors do not only invest for the sake of short, but also in the long term. Banks are one of the main pillars in Indonesian stocks. It is known that Bank Bjb has a good level of health but until now the share price of bank bjb has decreased considerably since 2017. This study will discuss how the determination of stock prices using the CAMELS method at the West Java Regional Development Bank in 2015 quarter 1- 2023 quarter 4. this research uses quantitative research methods carried out associatively. The data analysis technique used in this article is the Error Corecction Model (ECM) which aims to determine the short-term and long-term relationship between variables. The results showed that in the short-term CAR, and NPL have no influence on stock prices. In the long run CAR, NPM, and ROA affect stock prices. While NPL, LDR, and Interest Rate does not have any influence on stock prices. Keywords: CAMELS; Error Correction Model (ECM); Stock Price; Financial Performance; Banking Sector]]>
