cover
Contact Name
Zulfan Fahmi
Contact Email
attarbiyyah@iaialaziziyah.ac.id
Phone
+6282304030000
Journal Mail Official
attarbiyyah@iaialaziziyah.ac.id
Editorial Address
Jl. Masjid Raya KM. 1,5 Samalanga Desa Mideun Jok Kecamatan Samalanga Kabupaten Bireuen Aceh
Location
Kab. bireuen,
Aceh
INDONESIA
Jurnal Attarbiyyah: Jurnal Ilmu Pendidikan Islam
ISSN : 24609439     EISSN : 28074149     DOI : -
Jurnal At-Tarbiyah: Jurnal Pendidikan Agama Islam (Journal of Islamic Education Studies) merupakan jurnal nasional berpenyunting ahli yang terbit dua kali dalam setahun. Jurnal At-Tarbiyah berbentuk cetak (2460-9439 dengan Nomor SK: 0005.24609439/JI.3.2/SK.ISSN/2015.09 Tanggal 16 September 2015) dan online (2807-4149 dengan Nomor SK: 0005.28074149/K.4/SK.ISSN/2021.08, Kamis, 25 Agustus 2021). Jurnal ini diterbitkan oleh Fakultas Tarbiyah Institut Agama Islam (IAI) Al-Aziziyah Samalanga Bireuen Aceh. Pernyataan ini menegaskan etika penulisan dan publikasi bagi penulis, penyunting pelaksana, penyunting ahli, dan penerbit, serta seluruh pihak yang terlibat dalam penerbitan Jurnal At-Tarbiyyah. Fokus penerbitan jurnal ini pada bidang ilmu pendidikan islam, Studi Pendidikan dan Pembelajaran, Filsafat Pendidikan Islam, Manajemen Pendidikan Islam, Kepemimpinan Pendidikan, Teknologi Pendidikan Islam, Pendidikan Bahasa Arab, Sastra Arab, dan lain-lain yang berhubungan dengan ilmu pendidikan Islam
Articles 122 Documents
The role of central bank policies in corporate financial decision-making Nizomiddin Anvarov
Journal of Corporate Finance Management and Banking System Vol. 6 No. 1 (2026): Jan-June 2026
Publisher : HM Journals

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55529/jcfmbs.61.82.90

Abstract

The monetary policies of the central bank are measurable, determinants of corporate financial decisions, such as investment, financing of debt, dividend distributions, share repurchases, and allocation of capital. In this study, the impacts of interest rate policy, quantitative easing, forward guidance and reserve requirements on corporate financial policies are analyzed, focusing on firm size and industry differences. The study uses a mixed-method design, including panel data regression which involves aggregating 485 firms in the S&P 500 between 2008 and 2023, and qualitative analysis comprised of major monetary policy cycles during the Global Financial Crisis, the COVID-19 stimulus period, and the aggressive interest-rate hike periods from 2022 to 2023. Results reveal that the increase in the federal funds rate significantly curtails capital investment (β = −0.312, p < 0.001), debt-to-equity ratios (β = −0.185, p < 0.001) and buyback, and stimulates the retention of cash in the balance sheet. But that doesn't happen when interest rates are low: Lower interest rates encourage borrowing and buying up assets, as well as merger and acquisition activity. The findings in the sense that the smaller firms are more sensitive to policy-rate changes than the larger firms. Indeed, it is found that industry-level differences between firms with different leverage ratios, and those with different dividend policies, exist as well. The analysis also identifies the impact of forward guidance and the other policy tools used on managers' expectations and business planning horizons. The results of the work are an important edge for macrofinancial linkages understanding and also useful for the corporate treasurers, strategic financial managers, investors, policy makers, and corporate governance.
Fintech disruption in traditional banking and corporate finance Wing-Keung Wong
Journal of Corporate Finance Management and Banking System Vol. 6 No. 1 (2026): Jan-June 2026
Publisher : HM Journals

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55529/jcfmbs.61.91.101

Abstract

Financial technology (fintech) has revolutionized the banking industry by changing the approach to delivering financial services, competition, and financing business. This study delves into the multifaceted aspects of fintech disruption on traditional banking institutions under the lens of financial intermediation, capital allocation, risk management, digital payments, peer-to-peer lending, robo-advisory, block chain, and artificial intelligence. The methodology used was a mixed methods approach, which included panel data regression analysis of 320 banks in 40 countries from 2015-2023 and qualitative analyses relating to key phases of the fintech development. The results show that higher use of fintech is strongly correlated with decreases in net interest margin, cost efficiency, and market shares of traditional banks in retail deposits, payments and commercial lending. In the corporate finance space, fintech has significantly cut time to fundraise and transaction costs and enabled SMEs to access credit, thanks to algorithmic underwriting and alternative data credit scoring. There are notable regional variations, with fintech penetration showing a marked increase in the Asia-Pacific region and competition for incumbent banks being relatively high in this region. There are risks and opportunities for smaller, less technologically advanced banks, and larger banks can bolster their market position by acquiring niche fintech firms, partnering with them and/or investing in digital innovation. The study highlights the need for adaptive regulation, banks and fintech partnerships and improved digitalization of corporate finance functions. The results offer some useful lessons for banking executives, corporate finance professionals, regulators and policy makers in a more technology-driven financial system.

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