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Journal of Financial Economics & Investment
Published by Universitas Muhammadiyah Malang
ISSN : 29872820     EISSN : 28089413     DOI : https://doi.org/10.22219/jofei.v2i1.19441
Core Subject : Economy,
Economics, Econometrics & Finance
including financial economics, banking finance, corporate finance, public sector finance, international finance, Islamic finance, financial risk management and analysis, financial accounting and reporting, investment education, investment behavior, public sector investment, private sector investment, portfolio and trade optimization, investment management.
Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Keuangan
Articles 75 Documents
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FACTORS INFLUENCING USER PERCEPTIONS OF QRIS IN THE DIGITAL PAYMENT ECOSYSTEM Libran Filani; Lusiana Desy Ariswati
Journal of Financial Economics & Investment Vol. 6 No. 2 (2026): Journal of Financial Economics & Investment
Publisher : Program Studi Ekonomi Pembangunan

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Abstract

This study examines the factors influencing the perceived usefulness of the Quick Response Code Indonesian Standard (QRIS) among Generation Z in the supporting regions of the Nusantara Capital City (IKN), namely Samarinda, Balikpapan, Kutai Kartanegara, and Penajam Paser Utara. Using the Technology Acceptance Model (TAM), this research analyzes the effects of social influence, perceived ease of use, trust, digital experience, and service innovation on perceived usefulness. A quantitative approach was employed, collecting data from 250 respondents aged 18-25 years through an online questionnaire distributed via Google Forms. Partial Least Squares Structural Equation Modeling (PLS-SEM) analysis was used to test the relationships between variables. The results indicate that perceived ease of use and service innovation significantly influence perceived usefulness, explaining 82.7% of its variance, while social influence, trust, and digital experience have no significant effects. These findings emphasize that user-friendly interfaces and innovative features are crucial for enhancing QRIS adoption in developing regions. This study contributes to the theoretical application of TAM in non-metropolitan contexts and offers practical recommendations for improving QRIS adoption through digital infrastructure enhancements and service innovations.
DETERMINAN PROFITABILITAS BANK UMUM SYARIAH DI INDONESIA: ANALISIS PEMBIAYAAN BERMASALAH, KECUKUPAN MODAL, LIKUIDITAS PEMBIAYAAN, DAN EFISIENSI OPERASIONAL TAHUN 2017–2024 Adinda Maulana Diningrat; Zainal Arifin
Journal of Financial Economics & Investment Vol. 6 No. 2 (2026): Journal of Financial Economics & Investment
Publisher : Program Studi Ekonomi Pembangunan

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Abstract

Islamic banking in Indonesia faces a structural paradox as the large muslim demograpic potential has yet to translate into a significant market share. This study aims to analyze the determinants of profitability among 8 Indonesia Islamic Commercial Banks over the period 2017-2024, employing a quantitative approach through panel data regression. Return on Assets serves as the dependent variabel representing profitability, while the independent variables comprise Non-Performig Financing, Capital Adequancy Ratio, Financing to Deposit Ratio, and the Operational Effeciency Ratio. The research sample was determined through purposive sampling, selecting banks with complete data availability throughout the observation period. Model selection procedures indicate that the Common Effect Model is the mos appropriate specification for this study. Simultaneously, all independent variables exert a significant influence on profitability. Partially, operational efficiency emerges as the most dominant determinant, exerting a significant negative effect on profitability, followed by non-performing financing and capital adequancy ratio, both of which also negatively and significanly affect profitability. Conversely, the financing-to-deposit ratio yield no significant effect. These findings suggest that structural operational inefficiency constitutes the primary obstacle to improving the provitability and competitiveness of Indonesia’s Islamic banking industry.
DETERMINAN INDEKS HARGA SAHAM GLOBAL PERIODE 2019-2022 MENGGUNAKAN PENDEKATAN ERROR CORRECTION MODEL (ECM) Anggraeni Dwi Ningrum; Lestari Sukarniati; Firsty Ramadhona Amalia Lubis; Nenis Tri Atikah
Journal of Financial Economics & Investment Vol. 6 No. 2 (2026): Journal of Financial Economics & Investment
Publisher : Program Studi Ekonomi Pembangunan

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Abstract

This study aims to analyze the influence of global stock price indices on the Jakarta Composite Index (JCI) on the Indonesia Stock Exchange for the 2019–2022 period. The method used is a quantitative approach with the Error Correction Model (ECM) to identify short-term and long-term relationships between variables. The data used is monthly time series data covering the Dow Jones Industrial Average (DJIA), FTSE 100, Hang Seng Index (HSI), Kuala Lumpur Composite Index (KLCI), Nikkei 225, and Straits Times Index (STI). The results show that in the short term, the KLCI, Nikkei 225, and STI have a significant positive effect on the JCI, while the DJIA, FTSE 100, and HSI have no effect. In the long term, the DJIA and HSI have a significant negative effect on the JCI, while the KLCI, Nikkei 225, and STI have a significant positive effect, and the FTSE 100 remains unaffected. A significant error correction term coefficient indicates the existence of an adjustment mechanism towards long-term equilibrium. In conclusion, there is integration of the Indonesian capital market with several global markets, especially in the Asian region, which influences the movement of the JCI.
PENGARUH PENGGUNAAN QRIS DAN LITERASI KEUANGAN TERHADAP PERTUMBUHAN UMKM KULINER DI KOTA MALANG Salsabila Nur Husnia; Wahyu Hidayat Riyanto
Journal of Financial Economics & Investment Vol. 6 No. 1 (2026): Journal of Financial Economics & Investment
Publisher : Program Studi Ekonomi Pembangunan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22219/jofei.v6i1.44697

Abstract

The financial performance of culinary MSMEs faces challenges in financial management and adaptation to digital payment systems. This study aims to analyze the effect of Quick Response Code Indonesian Standard (QRIS) usage and financial literacy on the growth of culinary MSMEs in Dau District, Malang Regency. The sample consists of MSME actors selected using accidental sampling. Data were collected through questionnaires and analyzed using multiple linear regression. The results show that QRIS implementation and financial literacy have a positive and significant effect on MSME growth. Financial literacy is the most dominant variable. These findings confirm that financial management skills and the use of QRIS help MSMEs increase sales, speed up transactions, and support sustainable business growth. Regional governments are expected to expand financial literacy and digitalization training for MSMEs.
PENGARUH FINFLUENCER DAN FOMO TERHADAP MINAT INVESTASI SAHAM GENERASI Z INDONESIA Magfirah Wahyu Ramadhani; Nurul Chalisa Majiding; Sri Utami
Journal of Financial Economics & Investment Vol. 6 No. 2 (2026): Journal of Financial Economics & Investment
Publisher : Program Studi Ekonomi Pembangunan

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Abstract

This study aims to analyze the influence of finfluencers and Fear of Missing Out (FOMO) on the stock investment interest of Indonesian Generation Z. This issue is important because the increasing use of social media as a source of investment information can shape investment interest, but also has the potential to drive decisions influenced by trends and social pressure. This study employs a quantitative approach using a survey design. Primary data was collected via a Likert-scale questionnaire administered to 150 Generation Z respondents who are aware of or follow investment content on social media. The data was analyzed using validity, reliability, correlation, and multiple linear regression tests. The results indicate that finfluencers have a positive and significant effect on stock investment interest. FOMO also has a positive and significant effect on interest in stock investment. Simultaneously, finfluencers and FOMO can explain variations in interest in stock investment. These findings indicate that finfluencers and the psychological driver known as FOMO play a crucial role in shaping Generation Z’s interest in stock investment. This study contributes to the development of behavioral finance research regarding Generation Z’s investment behavior in the digital era.

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