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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 262 Documents
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Analysis of Factors Influencing Banks’ Intermediation Functions (A Case Study on Conventional Digital Banks Listed on the IDX) Auditia, Zerlinda Luna; Vietha Devia SS
Contemporary Studies in Economic, Finance and Banking Vol. 4 No. 2 (2025)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/csefb.2025.04.2.14

Abstract

The advancement of technology has brought innovation to banking by forming a digital bank. Digital banks are banks that provide transaction services through electronic channels without physical offices. Digital banks have a function and role as an intermediary institution that is important to be implemented properly so that there is fluency in payment traffic and money circulation. The purpose of this study is to analyze the factors that affect the intermediary function of digital banking in Indonesia listed on the Indonesia Stock Exchange (IDX). This research is quantitative type with secondary data using panel data regression analysis method. The samples in this study are AGRO, AMAR, ARTO, BBHI, BBSI, BBYB, BTPN, and DNAR. The dependent variable used is LDR, then the independent variables in this research are internal factors represented by CAR (X1) and NPL (X2), as well as external factors represented by Inflation (X3) and Internet Access (X4). The result of the findings in the study shows that the variables of CAR, NPL, and Internet Access have a significant positive effect on LDR, while Inflation does not have a significant effect on LDR.
The Effects of Environmental, Social, and Governance (ESG) on Market Structure: A Study of Commercial Banks in Indonesia Hilda, Wimvi; Yenny Kornitasari
Contemporary Studies in Economic, Finance and Banking Vol. 4 No. 2 (2025)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/csefb.2025.04.2.13

Abstract

Banks play an important role in the economy and demonstrate their commitment to sustainable economic development through Corporate Social Responsibility (CSR) by highlighting social, economic and environmental aspects. The purpose of this study is to analyze the influence of environmental, social, and governance aspects as dependent variables on market structure as measured by the Lerner Index as an independent variable. Four commercial banks in Indonesia were selected as samples and panel data regression methods were used in the analysis. The results show that environmental aspects have a positive and significant influence on the market structure of monopolistic competition. In contrast, the social aspect does not show significant influence, and the governance aspect is influential but with a negative direction towards the monopolistic market structure. Therefore, these results suggest that banks consider these aspects in their operations and policies to create a healthier and more competitive market.
The Influence of CASA, FBI, LDR and BOPO on Digital Banking Profitability in Indonesia Arvien Veda Aryanta Putera; Devia SS, Vietha
Contemporary Studies in Economic, Finance and Banking Vol. 4 No. 2 (2025)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/csefb.2025.04.2.05

Abstract

This research uses qualitative methods by collecting data through interviews and documentation. This research aims to determine the impact of the Current Account Saving Account ratio, Fee Based Income, and Loan to Deposit ratio on the profitability of digital banking. This research uses quantitative method by collecting data using documentation techniques in the form of annual reports. The results of this study state that Current Account Saving Account (CASA) and Fee Based Income (FBI) partially have no significant effect on the profitability of digital bank, Loan to Deposit Ratio (LDR) has a significant positive effect on the profitability of digital bank, and Operational Cost to Operating Income (BOPO) has a significant negative effect on the profitability of digital bank. Simultaneously, the variable of Current Account Saving Account (CASA), Fee Based Income (FBI), Loan to Deposit Ratio (LDR), Operational Cost to Operating Income (BOPO) have a significant effect on the profitability of digital bank.
The Impact of Foreign Investment on Economic Growth in Regencies/ Municipalities of West Java Province Akhmalul Akbar, Muhammad Ilham; Al Muizzuddin Fazaalloh
Contemporary Studies in Economic, Finance and Banking Vol. 4 No. 2 (2025)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/csefb.2025.04.2.11

Abstract

The West Java Province region is an area that has the highest amount of foreign investment compared to other provinces on the island of Java. Foreign Direct Investment (FDI) is one of the most important factors aimed at boosting the economy of a country/region. Therefore, this research aims to analyze the impact of Foreign Direct Investment (FDI) on economic growth in West Java Province. By using secondary data in the form of data on the amount of foreign investment, government expenditure, labor and gross regional domestic product (GRDP) during the period 2010-2023 in West Java Province. Data analysis and hypothesis testing were carried out using Dynamic Panel Data Analysis (GMM) using the Stata-17 application. The results of this research partially show that the Foreign Investment and Government Expenditure variables have a positive and significant effect on Economic Growth, while the Labor variable has a significant negative effect on Economic Growth.
Phenomenon the Day of Week and Monday Effect on the Return of The Jakarta Composite Index (JCI) Assyifa, Baiq Siti Ainaya; Hascaryani, Tyas Danarti
Contemporary Studies in Economic, Finance and Banking Vol. 4 No. 2 (2025)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/csefb.2025.04.2.16

Abstract

There is enough information to influence price movements in the capital market. Investors often overreact to this information, significantly affecting their investment decisions and potentially triggering market anomalies. This study aims to analyze the day of the week effect and Monday effect anomaly on the return of the Jakarta Composite Index (JCI) at the Indonesia Stock Exchange during the period 2019-2023, using closing price data. The research employs descriptive and quantitative methods, using non-parametric statistical tests, Kruskal-Wallis and Mann-Whitney U Tests, to analyze differences in daily stock returns. The results indicate significant differences in the average stock returns across the five trading days, suggesting the presence of the day of the week effect. Additionally, it was found that returns on Monday tend to be lower and negative, supporting the existence of the monday effect. These findings suggest a violation of the weak-form efficient market hypothesis, where returns should not be predictable based on specific days. The practical implications of this study can assist investors in designing investment strategies.
The Effects of Interest Rate, Household Consumptions, MSME Loans, and Domestic Investment Realization on GDP From 2011 to 2021 Tri Wibowo, Mohamad Rafif; Devia, Vietha
Contemporary Studies in Economic, Finance and Banking Vol. 4 No. 3 (2025)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

Economic growth is a crucial indicator for assessing a country's development success, with Gross Domestic Product (GDP) serving as its benchmark. Fluctuations in Indonesia's GDP over the last decade have been influenced by various factors, including interest rates, household consumption, MSME loans, and domestic investment realization. This research aims to analyses the impact of these four variables on Indonesia's GDP from 2011 to 2021. The study uses a quantitative approach with multiple linear regression, drawing on secondary data from BPS (Statistics Indonesia), Bank Indonesia, and BKPM (Indonesia Investment Coordinating Board). The findings reveal that interest rates and MSME loans have a positive but not significant impact on GDP, while household consumption and domestic investment realization positively and significantly affect GDP. These results highlight the importance of boosting public consumption and realizing domestic investment as key strategies to accelerate national economic growth.
Analysis of The Implementation of Artificial Intelligence (AI) on The Satisfaction of Customers with Digital Banking Services Juniar, Silvia Nursesa; Muttaqin, Aminullah Achmad
Contemporary Studies in Economic, Finance and Banking Vol. 4 No. 2 (2025)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/csefb.2025.04.2.03

Abstract

This study aims to analyse the impact of Artificial Intelligence (AI) implementation on customer satisfaction in digital banking services in East Java. Expectancy Disconfirmation Theory (EDT) serves as the theoretical framework to assess how expectation, perceived performance, and Disconfirmation influence customer satisfaction with AI-based banking services. A quantitative approach was employed, collecting data through a digital questionnaire covering key variables: expectation, perceived performance, and Disconfirmation as independent variables, and customer satisfaction as the dependent variable. Multiple linear regression analysis was conducted to evaluate the contribution of each independent variable to customer satisfaction. Furthermore, instrument validity and reliability tests, along with classical assumption tests—including normality, multicollinearity, and heteroscedasticity tests—were performed to ensure the suitability of the regression model. The findings provide valuable insights into the role of AI in shaping customer satisfaction in digital banking and offer practical implications for financial institutions to optimize AI-driven banking services.
An Analysis of the Effects of P2P Lending Financial Technology Growth and Banking Risk Management on Bank Profitability Nur Sabilatuz Zahro, Hilwa; Vietha Devia SS
Contemporary Studies in Economic, Finance and Banking Vol. 4 No. 3 (2025)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

The existence of FinTech P2P Lending is increasingly popular and is expected to continue to grow in Indonesia, presenting both opportunities and challenges for conventional banks. To maintain stability and profitability, banks must also have a quality system, one of which is by implementing risk management. This study aims to determine how the influence of FinTech company growth and risk management on bank profitability. The research method used in this research is quantitative research method with secondary data. The objects used in this study were 21 banks with 4 BUMN banks and 17 BPDs. This study uses panel data regression to see the effect of independent variables on the dependent variable. The dependent variable in this study is Return on Assets (ROA), and the independent variables are P2P Lending (X1), Non-Performing Loan (X2), Loan to Deposit Ratio (X3), and BOPO (X4). This study found that there is a negative influence on the growth of FinTech companies, NPL, and BOPO, while the LDR variable has no significant effect on bank ROA.
The Effect of Monetary Economic Variables on Unemployment in Indonesia: Inflation as a Moderating Variable Solihah, Amilatus
Contemporary Studies in Economic, Finance and Banking Vol. 4 No. 2 (2025)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/csefb.2025.04.2.09

Abstract

Indonesia's primary concern is its high unemployment rate. High unemployment is not only a social issue but also a challenge for the economy, particularly in maintaining inflation stability. The relationship between unemployment and inflation is explained through the Phillips Curve theory. Inflation control can be managed through monetary policy, making this study essential in analyzing the influence of various monetary variables on Indonesia’s unemployment rate, with inflation as a moderating variable. This study examined data collected on a semi-annual basis from 2008 to 2023. The model used in this research followed a recursive simultaneous equation system, applying the Two-Stage Least Squares (2SLS) method. The hypothesis testing results indicated that monetary economic variables did not have a significant effect on unemployment, either directly or through inflation. Additionally, inflation did not significantly impact unemployment. However, interest rates significantly influenced unemployment, aligning with the IS-LM theory. Meanwhile, exchange rates and money supply did not have a significant effect on the unemployment rate.  
Foreign and Domestic Investments as the Economic Growth Determinants in 34 Indonesian Provinces in the 2015-2023 Period Dyah Putri Sekar Arum; Kaluge, David
Contemporary Studies in Economic, Finance and Banking Vol. 4 No. 2 (2025)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/csefb.2025.04.2.02

Abstract

This study examines the relationship between Foreign Direct Investment (FDI) and Domestic Investment (DDI) on economic growth in 34 Indonesian provinces, considering other variables as control variables. The research gap lies in the limited understanding of the relative contribution of FDI and DDI to regional economic growth. The purpose of this study is to analyze the effect of both types of investment and the factors that influence the differences in their flows. The method used is panel data analysis with a quantitative causality approach with the population of GRDP, FDI, and FDI of all provinces in Indonesia using saturated sampling. The research findings show that both FDI and FDI have a significant positive influence on economic growth, but the contribution of each varies between provinces. The implication of this study is that it provides insights for policymakers to design more effective investment strategies, by considering local factors that influence investment success.

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