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Contemporary Studies in Economic, Finance and Banking (CSEFB)
Published by Universitas Brawijaya
ISSN : -     EISSN : 29633303     DOI : 10.21776/ub.csefb
Core Subject : Economy, Social,
Economics, Econometrics & Finance Social Sciences
Publish all forms of quantitative and qualitative research articles as well as other scientific studies related to the fields of Economics, Finance, and Banking.
Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Ilmu Ekonomi, Ekonometrika dan Keuangan (Lain-Lain)
Articles 20 Documents
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Search results for , issue "Vol. 5 No. 1 (2026)" : 20 Documents clear
Analysis of the Determinants for Credit Distribution in Conventional and Digital Banks Listed in the Indonesian Stock Exchange Asyrafi, Muhammad Mirza; Farah Wulandari Pangestuty
Contemporary Studies in Economic, Finance and Banking Vol. 5 No. 1 (2026)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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Abstract

This research analyzes the factors that drive credit distribution in conventional and digital banking in Indonesia. Amidst the digital transformation era, this research specifically tests the credit policy determinants for both business models. Using separate panel data regres-sions on 26 banks during the 2020-2023 period, it was found that Third-Party Funds (DPK) is a main driver for both groups, confirming the basic intermediation function. However, a fundamental strategic difference was also identified: digital banks' credit distribution is significantly spurred by capital strength (CAR). Meanwhile, for conventional banks, the primary significant driver is the availability of customer funds (DPK), while the profitability incentive (NIM) was found to be insignificant. This finding implies that the strategy of digi-tal banks focuses on aggressive capital-based expansion, while conventional banks oper-ate more conservatively and traditionally.
Co-Movement Between Credit Growth and Economic Growth In Indoensia Using WaveLet Coherence Analysis Nuraini, Rahma; Setiawan Fadjar, Nurman
Contemporary Studies in Economic, Finance and Banking Vol. 5 No. 1 (2026)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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This study examines the dynamic relationship between credit growth and economic growth in Indonesia, with a focus on the underexplored comparison between Commercial Banks and Rural Banks (BPR) over the long term. While previous studies often use static models, this research employs Wavelet Coherence Analysis to capture changes in the relationship across time and frequency from 2004 to 2024. The aim is to identify how credit and GDP interact across different periods. The findings reveal that commercial bank credit generally follows economic growth across short, medium, and long-time horizons, supporting the demand-following hypothesis. In contrast, rural bank credit shows a more mixed pattern often lagging behind GDP in the short term, but leading in the long run, suggesting a supply-leading role. There are also signs of bidirectional influence, indicating a feedback loop between credit and economic activity. These results highlight that the credit–growth relationship in Indonesia is both time-dependent and institution-specific. This study contributes by providing real-world evidence of how commercial and rural banks play distinct and complementary roles in supporting the country's economic development
The Impact of Green Banking Implementation on the Profitability and Performance of Indonesian Banks (The Period of 2021-2024) Putri, Rafa Fahriela; Galuh, Ajeng Kartika
Contemporary Studies in Economic, Finance and Banking Vol. 5 No. 1 (2026)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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Abstract

Green banking has emerged as a global strategic approach to support sustainability, yet its impact on bank profitability in Indonesia remains underexplored. This study aims to analyze the effect of green banking practices on the profitability of commercial banks listed on the Indonesia Stock Exchange. Using a quantitative approach, the study examines panel data from 13 banks over the 2021–2024 period through fixed effect regression analysis. Profitability is measured by Return on Assets (ROA). The independent variables include operational efficiency (operating expenses to operating income), capital adequacy ratio, sustainable financing (portion of green lending), digital service usage (number of e-banking users), number of ATMs, and Corporate Social Responsibility (CSR) funds. The results show that operational efficiency, sustainable financing, digitalization, and CSR funds significantly affect ROA. Meanwhile, capital adequacy and the number of ATMs have no significant effect. The study concludes that specific green banking practices can enhance profitability when implemented effectively. These findings contribute to the green banking literature in Indonesia and offer practical insights for banks and regulators in formulating sustainable finance policies.
Fintech And Financial Access: Demographic Drivers Of Fi-nancial Inclusion In Indonesia Sim, Yulia Melyanda
Contemporary Studies in Economic, Finance and Banking Vol. 5 No. 1 (2026)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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This study explores the influence of infrastructural and demographic determinants on the adoption of FinTech in Indonesia using Global Findex 2021 data. The binary dependent variable is an indicator of mobile money or digital payments usage. Probit and Logit models are applied to examine such variables as employment, income, education, age, gender, rural residence, phone possession, and internet usage. Results show that education, employment, gender, mobile phone, and internet usage significantly and positively affect adoption, but income and age do not. Logit model fits better as per fit statistics and residual analysis. The results confirm the need for inclusive infrastructure and digital literacy to drive financial inclusion.
The Impact of Macroeconomics Factors on Non-Performing Loans : A Case Study of KBMI IV Banks Id'risa, Nevia; Al Muizzuddin Fazaalloh
Contemporary Studies in Economic, Finance and Banking Vol. 5 No. 1 (2026)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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Abstract

This study is grounded in the urgency of maintaining banking system stability, particularly among KBMI IV banks, which play a dominant role in Indonesia’s financial system, amid macroeconomic fluctuations that may increase the Non-Performing Loan (NPL) ratio. The research aims to examine the effects of inflation, economic growth, exchange rates, interest rates, and the Loan to Deposit Ratio (LDR) on the NPLs of KBMI IV banks during the 2016–2023 period. This study employs a quantitative approach using the Error Correction Model (ECM) to analyze both short-term and long-term relationships based on secondary data derived from published banking financial reports and macroeconomic statistics. The findings indicate that, in the long run, exchange rates, interest rates, and LDR significantly affect NPLs, while inflation and economic growth do not; in the short run, only exchange rates and interest rates have a significant impact. These results highlight the importance of strengthening credit risk management, ensuring efficient fund allocation, and adopting adaptive policy responses to macroeconomic dynamics in order to maintain credit portfolio quality and financial stability.
Determination of Income Inequality: The Influence of Financial Inclusion, Economic Growth, And Human Capital Nabilla, Anisa Ayu; Pangestuty, Farah Wulandari
Contemporary Studies in Economic, Finance and Banking Vol. 5 No. 1 (2026)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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Abstract

This study aims to analyze the factors affecting income inequality (Gini Index), highlighting the roles of Financial Inclusion, Economic Growth (proxied by GRDP per capita), and Human Capital (proxied by the Human Development Index and the Open Unemployment Rate). The analytical method employed is panel data regression using a Fixed Effect Model (FEM). Based on the analysis of quarterly panel data from 6 cities in DKI Jakarta Province for the 2020-2022 period, the research yields the following results. The Financial Inclusion Index and the Human Development Index have a negative and significant effect on income inequality. Conversely, GRDP per capita has a positive and significant effect. However, the Open Unemployment Rate was found to have no significant impact on income inequality. These findings suggest that improvements in financial inclusion, economic growth, and human capital do not automatically guarantee equity in the DKI Jakarta Province. This study contributes to the empirical literature and offers policy recommendations for tackling the issue of income inequality in the DKI Jakarta Province.
The Effects of Market Capitalization, Trade Volume, and Profitability Ratio on the Stock Returns of Companies Listed on the IDX30 Linggi, Elsy Taruk; Pangestuty, Farah Wulandari
Contemporary Studies in Economic, Finance and Banking Vol. 5 No. 1 (2026)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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Abstract

This study evaluates how market capitalization, stock trading activity, and profitability levels contribute to the movement of stock returns of issuers included in the IDX30 index. This research was conducted because previous findings showed inconsistent results due to differences in periods and limitations in the sectors studied. The independent variables used include market capitalization, trading volume, profitability ratio (ROE), and dummy variables for the Covid-19 and post-Covid-19 periods. This study uses a quantitative approach by processing panel data, which is a combination of time series and cross-section data. Based on the selection of the best model, data analysis was performed using the Common Effect Model (CEM). The results of this study explain that trading volume has a positive and significant effect on stock returns, while market capitalization and profitability ratio do not have a significant effect. In addition, the Covid-19 and post-Covid-19 period variables also have a significant effect on stock returns, indicating that changes in macroeconomic conditions also determine the movement of large companies' stock returns. These findings imply that investors need to pay attention to trading activities trading and macroeconomic conditions in investment decision-making on IDX30 stocks.
The Influence of Inflation, Deposit Interest Rate, and GDP on the Yield of Indonesia’s Fr0091 Government Bond in the 2021-2025 Period Nasuha, Firly Kania; Maski, Ghozali
Contemporary Studies in Economic, Finance and Banking Vol. 5 No. 1 (2026)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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Abstract

Government bonds are a vital instrument for financing the state budget deficit. This study examines the influence of inflation, deposit interest rates, and Gross Domestic Product (GDP) on the Yield to Maturity (YTM) of Indonesia government bond series FR0091 over the period 2021-2025. The method employed is Principal Component Regression (PCR) using quarterly data. The results indicate that inflation has a positive relationship with bond yield through the Fisher Effect mechanism. Deposit interest rates show a negative relationship with yield, suggesting that increased banking liquidity drives higher demand for bonds. Meanwhile, GDP exhibits a positive relationship with yield, reflecting increased de-mand for funds in financial markets during economic growth. These findings provide im-plications for monetary and fiscal policy, as well as government bond investment strate-gies.
Analysis of the Influence of Digital Technology on the Profitability of KBMI IV Banks In Indonesia Salsabilla, Andien Febia; Kaluge, David
Contemporary Studies in Economic, Finance and Banking Vol. 5 No. 1 (2026)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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Abstract

Digital transformation has become a strategic urgency for KBMI IV banks in improving efficiency, competitiveness, and performance stability amid increasingly competitive and technology-based banking industry competition. This study aims to analyze the effect of mobile banking, internet banking, and ATMs on the profitability of KBMI IV banks in Indonesia for the period 2012–2023. The study uses a quantitative approach with the Fixed Effect Model panel data regression method. Profitability is measured using Net Profit Margin (NPM), with control variables in the form of size, Loan to Deposit Ratio (LDR), and BI Rate. The results show that mobile banking and internet banking have a significant positive effect on NPM, while ATMs have no significant effect. The variables of size and BI Rate have a significant positive effect, while LDR is not significant. These findings indicate that digitization can increase profitability when integrated with optimal fund collection and distribution strategies. Therefore, targeted, measurable digital transformation management that is aligned with core banking activities is needed to support long-term performance sustainability.
The Impact of Boycott Issues and Gold Price Volatility on PT X Stock Price santoso, feby indrawan; Fazaalloh, Al Muizzuddin
Contemporary Studies in Economic, Finance and Banking Vol. 5 No. 1 (2026)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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Abstract

The long-standing political and military conflict between Israel and Palestine has had an impact on Indonesia’s economy. The conflict triggered large-scale boycott policies against several well-known brands. One of the affected companies was the products of PT X, resulting in declining sales which also led to a decrease in share value. This study aims to examine the effect of gold prices and boycott policies on the share price of PT X and to test whether there is a difference in the share price trend of X before and after the Boycott Issue of Israeli products. The researchers applied a quantitative approach through multiple linear regression testing and a difference test. The results show that the boycott issue has a significant negative effect on X’s share price. Meanwhile, gold prices have a significant positive effect on X’s share price. Furthermore, a difference was found in X’s share price before and after the boycott issue.

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