Journal of Banks and Financial Institutions
Aim Contributions in quantitative finance, mathematical finance, real estate finance, law finance, accounting, International trade, financing and investments, and related cash and credit transactions, have grown at an extremely rapid pace in recent years. The international monetary system has continued to evolve to accommodate the need for foreign-currency-denominated transactions and in the process has provided opportunities for its ongoing observation and study. Therefore, journal Bank and Financial Institutions over to who have manuscripts focused on finance, banking, financial institutions, and financial technology. Only articles with contributions will be published. Scope Banking issue Scopes related to: Banking Efficiency; Banking Regulation; Bank Solvency and Capital Structure; Bank Management (HRM Banking, Bank Marketing, Bank Operations); Bank Fund Management; Credit; Bank CSR; Financial Stability; e-Banking; Foreign Exchange Management, Investment Banking; International Banking; Islamic Banking; Bank Liquidity Management; Monetary and Fiscal Policy Decision Making; Online Banking; Banking for Retail; Banking for MSMEs. Finance issue Scopes related to: Financial Accounting and Reporting; Investment Alternatives; Asset Valuation; Behavioral Finance; Corporate Finance; Corporate Governance and Ethics; Hedging and Derivative Finance; Empirical Finance; Financial Accounting; Financial Economics; Financial Engineering; Financial Forecasting; Financial Literacy; Financial Risk Management and Analysis; Financial Technology; International Finance; Portfolio Optimization and Trading; Regulation of Financial Markets and Institutions; Rural Finance; Stochastic Models for Asset and Instrument Pricing; Systemic Risk; Taxation. Risk management issue Scopes related to: Risk management, Market risk, Financial risk, Credit risk, Operational risk, Portfolio strategy and management, Risk modelling, Liquidity risk, Stress testing, Commercial lending, Compliance and auditing, Quantitative risk, Interest rate risk, Trading risk, Treasury and finance; as well as, Risk analysts and economists, Central bankers and financial regulators, Risk consultants and service providers Financial markets issue Scopes related to: International financial markets, International securities markets, Foreign exchange markets, Eurocurrency markets, International syndications, Term structures of Eurocurrency rates, Determination of exchange rates, Information, speculation, and parity, Forward rates and swaps, International payment mechanisms, International commercial banking, International investment banking, Central bank intervention, International monetary systems.
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<![CDATA[Evaluating PT Unilever Indonesia Financial Performance amid Consumer Boycotts Using the DuPont Model ]]>
<![CDATA[Aida Nur Arifah]]>
<![CDATA[ Journal of Banks and Financial Institutions Vol 2 No 1 (2026) ]]>
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DOI: 10.70764/gdpu-jbfi.2026.2(1)-1
<![CDATA[Objective: This study analyzes the financial performance of PT Unilever for the 2021–2023 period in response to of the impact of the Boycott, Divestment, and Sanctions (BDS) movement arising from the Israel–Palestine conflict, using the DuPont System method. Research Design & Methods: This study adopts a quantitative descriptive approach using secondary data derived from the company’s financial statements, including balance sheets and income statements. The analysis employs the DuPont System, consisting of Net Profit Margin (NPM), Total Asset Turnover (TATO), and Return on Investment (ROI), to evaluate financial performance comprehensively. Findings: The results indicate that PT Unilever’s financial performance fluctuated over the observed period, improving in 2022 but declining significantly in 2023. This deterioration is reflected in decreasing NPM, TATO, and ROI values, suggesting reduced operational efficiency and profitability. Contributions: This study contributes to the literature on financial performance analysis using the Du Pont System and offers an additional perspective on the impact of external factors, specifically, consumer boycott movements on the performance of multinational companies. Novelty: The novelty of this study lies in integrating financial performance analysis with a global socio-political phenomenon, namely the BDS movement, which has rarely been explored in corporate finance studies in Indonesia]]>
<![CDATA[Beyond Value at Risk: A Stochastic Dominance Framework for Risk Management in Banking ]]>
<![CDATA[Gbolahan Solomon Osho]]>
<![CDATA[ Journal of Banks and Financial Institutions Vol 2 No 1 (2026) ]]>
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DOI: 10.70764/gdpu-jbfi.2026.2(1)-2
<![CDATA[Objective: This study examines the application of stochastic dominance as a distribution-based framework for improving risk evaluation in banking beyond traditional metrics. Research Design & Methods: A quantitative analytical approach is employed using simulated and banking-style portfolio datasets. The study applies first-, second-, and third-order stochastic dominance to compare asset distributions and benchmark results against Value at Risk and Expected Shortfall. Findings: Results show no first-order dominance; however, second-order dominance consistently identifies conservative portfolios as optimal under risk aversion. Stochastic dominance reveals distributional differences not captured by conventional measures. Contributions: The study extends risk management literature by integrating nonparametric dominance techniques into banking portfolio evaluation. Novelty: This study introduces an empirical application of stochastic dominance in banking and demonstrates its superiority in capturing full distributional risk.]]>
<![CDATA[Determinants of Firm Value: Evidence from Consumer Cyclical Companies Listed on the Indonesia Stock Exchange ]]>
<![CDATA[Devina Isnaeni Ramadani]]>;
<![CDATA[Lina Nur Hidayati]]>
<![CDATA[ Journal of Banks and Financial Institutions Vol 2 No 1 (2026) ]]>
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DOI: 10.70764/gdpu-jbfi.2026.2(1)-4
<![CDATA[Objective: This study was designed to examine how profitability, as measured by Return on Assets (ROA), the implementation of Good Corporate Governance as represented by the proportion of independent commissioners, and firm size influence firm value, as measured by Tobin’s Q, with a focus on companies in the consumer cyclicals sector listed on the Indonesia Stock Exchange. Research Design & Methodology: The approach used is a quantitative associative one with secondary data in the form of annual financial reports. From a population of 157 companies in the consumer cyclicals sector for the 2018–2022 period, 47 companies were selected as the sample through purposive sampling, resulting in a total of 235 observations. Data analysis was conducted using panel data regression, preceded by model selection tests (Chow and Hausman) and classical assumption tests. Findings: The results indicate that profitability has a positive effect on firm value, while Good Corporate Governance was not found to have a significant effect. Conversely, firm size has a negative effect on firm value. Simultaneously, these three variables have a positive and significant effect on firm value, explaining 75.2088% of the variation in firm value. Contribution: These findings provide an empirical perspective for both investors and corporate management regaing the factors relevant to assessing the prospects of companies in the consumer cyclicals sector, particularly during the recovery period following the COVID-19 pandemic. Novelty: This study enriches the empirical evidence regarding the inconsistencies in previous research findings on the effects of profitability, good corporate governance, and firm size on firm value, by highlighting the potential for a size effect anomaly in the consumer cyclicals sector in Indonesia.]]>
<![CDATA[Determinants of Islamic Commercial Bank Financing in Indonesia: Financial Performance and Inflation (2015–2023) ]]>
<![CDATA[Muhammad Faizal Ramadhan]]>
<![CDATA[ Journal of Banks and Financial Institutions Vol 2 No 1 (2026) ]]>
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DOI: 10.70764/gdpu-jbfi.2026.2(1)-5
<![CDATA[Objective: This study aims to examine the effects of Capital Adequacy Ratio (CAR), Return on Assets (ROA), Third-Party Funds (DPK), Non-Performing Financing (NPF), and inflation on financing disbursed by Islamic Commercial Banks (BUS) in Indonesia during 2015–2023. Research Design & Methods: A quantitative approach was employed using secondary quarterly panel data from all 11 Islamic Commercial Banks operating in Indonesia. Data were obtained from the Financial Services Authority (OJK) and Bank Indonesia, comprising 396 bank-quarter observations. After excluding 38 observations with negative ROA that could not be log-transformed, 358 observations were analyzed. Panel regression was conducted, with the Chow and Hausman tests indicating the Fixed Effect Model (FEM) as the most appropriate specification. Findings: The results indicate that CAR, DPK, and NPF have positive and significant effects on financing, whereas ROA and inflation have negative and significant effects. Simultaneously, all five variables significantly affect financing, with an adjusted R² of 34.86%. The positive relationship between NPF and financing suggests a financing-growth-driven risk exposure pattern rather than conventional risk-averse lending behavior. Contributions: This study extends previous research by employing a full-population quarterly panel covering all Islamic Commercial Banks in Indonesia over a relatively long period, including the post-merger period. It also provides a theoretical interpretation of the counterintuitive positive relationship between NPF and financing and offers a transparent methodological framework for future panel-data studies of Islamic banking. Novelty: This study uniquely combines full-population quarterly data from all 11 Islamic Commercial Banks during 2015–2023, including the post-merger period, while providing a novel financing-growth-driven interpretation of the positive NPF–financing relationship.]]>
