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Economic development in today's world has grown rapidly, leading to numerous changes in human life. By investing in the capital market, it becomes one of the alternatives for financing the community's economy and is easily accessible to the public. One of them is to invest in bond securities in issuer companies. However, by purchasing bonds in the capital market with the issuer company, in addition to providing benefits through interest rates, there are risks, including if the issuer company goes bankrupt. Under these conditions, the holder of the unsecured bond will be positioned as a concurrent creditor, whose repayment is made after the separatist and preferred creditor. Although not guaranteed collateral, bondholders still obtain legal guarantees of their rights through information disclosure, the role of trustees, and arrangements within the applicable legal framework.

Indonesia's Sharia capital market has experienced significant growth in the past decade, along with rising public awareness of Islamic economic principles and the adoption of digital technologies. This study aims to analyze the role of digital transformation in supporting the development of the Sharia capital market and to identify structural challenges, particularly in regulatory, financial literacy, and cybersecurity aspects. The methodology used is descriptive qualitative with a literature study approach, drawing on secondary data from reputable journals and official publications from OJK and the Indonesia Stock Exchange. The results indicate that while technological transformation has opened significant opportunities such as increased financial inclusion and youth investor engagement, the Sharia capital market still faces serious challenges related to unadaptive regulations, cyber threats and low investor literacy. This study recommends synergy between regulators, industry players and educational institutions to strengthen a sustainable Sharia capital market ecosystem.    

This research analyzes the role of Islamic business ethics in investment decisions in Islamic financial institutions. The background is the rapid growth of the Islamic economy, so that Islamic values such as the prohibition of riba/gharar/maisir, fairness, and transparency become important as a foundation for fair and sustainable investmentsfile. The objective is to explore how sharia principles influence the selection process and investment decisions. The method used is a comprehensive literature study, with literature analysis from books, journals, and academic publications related to Islamic economics. The main findings show that Islamic financial institutions incorporate Islamic ethical values into their investment practices: Islamic banks exercise supervision by the Sharia Supervisory Board and specific codes of conduct; Islamic mutual funds and capital markets apply screening through the Sharia Securities List and DSN-MUI fatwas; Islamic fintech refers to DSN fatwas and emphasizes transparency of fees as well as fairness of return distribution. In conclusion, the integration of Islamic ethical values in the investment process helps build a sustainable and fair Islamic investment system, by emphasizing honesty, fairness and social responsibility in every investment decision.

This study aims to analyze the influence of the Islamic financial sector on economic growth in Indonesia during the period 2014–2022. The Islamic financial components examined include Islamic stocks, sukuk (Islamic bonds), Islamic mutual funds, third-party funds from Islamic banking, and assets of Islamic non-bank financial institutions (IKNB). Economic growth is measured using Gross Domestic Product (GDP) as the dependent variable. The analysis employs a quantitative approach using the Vector Error Correction Model (VECM), complemented by Impulse Response Function (IRF) and Forecast Error Variance Decomposition (FEVD) to assess both short-term and long-term relationships. The results reveal that Islamic stocks and sukuk have a significant and positive effect on GDP in both the short and long term. Third-party funds from Islamic banks also contribute positively in the long run, although their short-run impact is insignificant. Conversely, Islamic mutual funds and IKNB assets show no statistically significant influence on economic growth. These findings highlight the strategic importance of strengthening Islamic capital market instruments and improving financial intermediation to foster sustainable economic development in Indonesia.

Firm value is the company's performance reflected in the stock price, which is determined by the demand and supply in the capital market, representing public perception of the company's performance. This study aims to obtain empirical evidence on the influence of millennial leaders and CSR disclosure on firm value, with firm age as a control variable, in companies listed in the LQ45 Index from 2021 to 2023. The population of this study consists of 45 companies. Sampling was conducted using a non-probability sampling method with a purposive sampling technique, resulting in a total of 16 company samples. The analysis technique employed is multiple linear regression analysis. The results show that millennial leaders positively affect firm value, while CSR disclosure negatively affects firm value. This study provides theoretical implications by offering additional information and empirical evidence regarding the influence of millennial leaders and CSR disclosure on firm value. It also offers practical implications for company leaders to pay more attention to factors that can enhance firm value.

This study aims to analyze the reaction of the Indonesian capital market to the inauguration of President Prabowo-Gibran using the event study method. The important variables in this study are abnormal returns and trading volume activity, with the population of all companies listed in the LQ45 stock index. The observation period was 14 days. The data consists  of daily closing stock  price, daily closing price of LQ45 IHSG, daily trading volume, and the number of shares outstanding. Hypothesis testing was conducted using the non-parametric Wilcoxon Signed Rank Test, as the data is not normally distributed. The results showed that there was no significant difference in  the average abnormal return. However, a significant difference in the average trading volume activity was found between the periods before and after the presidential inauguration event.  

This study aims to analyze the violation of professional accounting ethics in the case of PT Hanson International Tbk (MYRX), a public company involved in financial statement manipulation and bond default. The research adopts a qualitative approach using a case study method, based on secondary data from financial reports, media coverage, and official documents from financial authorities. The findings indicate serious breaches of ethical principles in the accounting profession, including integrity, objectivity, and professional competence. These violations had significant impacts on investor trust, capital market stability, and the reputation of the accounting profession. Moreover, the case highlights the urgent need for stronger supervision, reforms in financial reporting practices, and the integration of ethical values in accounting activities. This study contributes to a deeper understanding of the importance of ethics in maintaining transparency and accountability in financial reporting.

Chapter 2 POJK Number 67/POJK.04/2017 concerning Notaries with Activities in the Capital Market requires that Notaries with activities in the Capital Market must obtain a Certificate of Registration (STT) by the OJK. After the PPSK Law, Notaries are also declared a Financial Sector Supporting Profession and must be registered by the relevant minister, institution or authority. The problems are: (1) How are financial sector supporting professions regulated based on Law Number 4 of 2023? (2) What are the Obligations of a Notary as a Financial Sector Supporting Professional in obtaining a Registration Certificate (STT) Based on Law Number 4 of 2023? The method used in this research is Normative Juridical, with data collection through literature study. The research results show that professions supporting the financial sector, including notaries, are required to be registered by the Financial Services Authority and Bank Indonesia, but there are still no regulations governing the registration procedures.

This study examines the relationship between corporate financial disclosure and investment decisions by shareholders and investors in capital markets. Using a comprehensive dataset of 486 publicly listed companies from multiple stock exchanges over a five-year period (2018-2022), we investigate how the quality, scope, and timing of financial disclosures influence investment behaviors, pricing efficiency, and capital allocation. Through multiple regression analysis, structural equation modeling, and panel data techniques, we find that higher disclosure quality is significantly associated with increased trading volumes (β=0.42, p<0.01), lower bid-ask spreads (β=-0.38, p<0.01), and reduced stock price volatility (β=-0.31, p<0.01). Our analysis reveals that voluntary disclosures beyond regulatory requirements have a stronger impact on institutional investor decisions compared to retail investors. Additionally, the study documents that forward-looking financial information and segment reporting have particularly strong effects on investment decisions during periods of market uncertainty. The findings contribute to disclosure theory and provide empirical evidence for regulators considering disclosure policy reforms, corporate executives formulating communication strategies, and investors developing investment frameworks that incorporate disclosure quality assessment. The study addresses the causality challenge through instrumental variable estimation and difference-in-differences analysis of regulatory changes, enhancing the robustness of the identified relationships.

The capital market plays a strategic role in the economy as a means for companies to obtain long-term funding. Profitability, leverage, and firm size are fundamental factors that can influence market reaction. This study aims to analyze the effect of profitability and leverage on market reaction and examine the moderating role of stock performance. The data used is secondary data obtained from the annual financial reports of companies listed on the Indonesia Stock Exchange (IDX) for the period of 2022 to 2024. The results show that profitability have a positive and significant effect on market reaction, while leverage has a negative and significant effect on market reaction. However, stock performance failed to moderate the effect of profitability and leverage on market reaction. These findings support the Signaling Theory and Trade-Off Theory in the context of the Indonesian capital market. The implication of this research is that companies need to improve profitability and strengthen their financial structure to enhance investor confidence and improve market positioning.

Akad is an essential element in Islamic economic transactions as it serves as the foundation of the agreement between the involved parties. The underlying principles of Sharia in managing contracts include justice, honesty, equality, and trust, with the aim of creating fair transactions in accordance with Islamic law. This article aims to examine the principles of Sharia in managing contracts and their implementation in various forms of Islamic economic transactions, such as Islamic banking, microfinance, and Shariah compliant capital markets. The qualitative approach is used with normative analysis of classical and contemporary Islamic literature, as well as a review of modern practices. The study's findings indicate that proper Shariah-compliant contract management not only ensures the legality of transactions but also enhances trust and blessings in economic activities. By understanding these principles, it is hoped that the community and economic players can implement contracts more wisely and responsibly.

Debt instruments, particularly those related to preferred and common stocks, play an important role in capital markets and corporate finance. One of the crucial elements that influence investment decisions and corporate policies is debt repayment provisions. Preferred stocks, with higher priority in terms of debt repayment, provide a sense of security for investors because they provide greater protection against the risk of loss. In contrast, common stocks, which have lower priority in debt repayment, offer higher potential returns but with greater risks. This article aims to explore the role of debt repayment provisions in common stocks through an in-depth literature review. The methodology used is a thematic and comparative analysis approach to the existing literature, focusing on the differences in debt repayment rights and their impact on investment decisions and corporate policies. The results show that debt repayment provisions have a significant impact on investment stability, where preferred stocks are more beneficial for conservative investors who prioritize security, while common stocks are more suitable for investors seeking potential returns for conservative investors who prioritize security, while common stocks are more suitable for investors seeking potential high returns despite greater risks. This conclusion provides an important contribution to understanding the dynamics of the capital market and helps investors and companies in designing better financial strategies. Further research is needed to explore the direct effect of debt repayment provisions on capital market performance and stock value in companies.  

This study aims to analyze the impact of the Muslim boycott call after the issuance of Fatwa MUI No. 83 on the stock returns of Israel-affiliated companies listed on the Indonesia Stock Exchange. The stocks selected for the study include UNVR, FAST, MAPI, MAPA, MAPB, and PZZA. The results of this study indicate that there is no significant difference in the stock returns of companies affiliated with Israel after the issuance of Fatwa MUI No. 83 on November 8, 2023. This finding indicates a delay in the market response to public information related to the boycott call, which is characteristic of markets with lower efficiency levels. This research is expected to provide insights for the public and investors regarding the dynamics of the capital market in Indonesia in responding to a social event. In addition, the results of this study can also be taken into consideration for market authorities and related institutions in evaluating policies aimed at improving capital market efficiency in Indonesia.

The capital market becomes a place for investors to invest capital and share company for to obtain flow of funds as additional business capital. Capital market conditions are influenced by factors macro that are social, economic, and political. Political factors are very influential in trading stocks in 2024​​ that is election general (election). Research objectives This is for know whether There is difference before and after announcement results presidential election 2024 to the capital market sector energy, technology, infrastructure. Research This use approach event study and is study quantitative. Taking samples in research This use purposive sampling. The data used consists of on ten-day price closing stocks and trading volume share sector energy, infrastructure, and technology listed on the Indonesia Stock Exchange. The data analysis method used in study is a t-test difference analysis model. The results of the study This show No existence difference abnormal returns and trading volume activity before and after announcement results election president 2024 in the sector energy, technology, and infrastructure.

Stock returns are one of the indicators in investor investment decision making. Factors that influence stock returns are internal (fundamental) factors, namely ROA, DPR and EPS. The purpose of this study was to determine: the effect of Return On Asset (ROA) on Stock Returns, the effect of Dividend Payout Ratio (DPR) on Stock Returns, and the effect of Earnings Per Share (EPS) on Stock Returns in Industrial Sector companies listed on the Indonesia Stock Exchange in 2020-2022. The data analysis method used is multiple linear regression analysis. Findings: Return On Asset (ROA) has a positive and significant effect on Stock Returns, Dividend Payout Ratio (DPR) does not affect Stock Returns, and Earnings Per Share (EPS) does not affect Stock Returns. The implication of this study for investors is that they can use ROA as the main indicator in analyzing potential opportunities to gain profit from capital gains from stock returns before making investment decisions. The implication for management is to focus on strategies to optimize the use of assets to generate greater profits. Meanwhile, the implications for regulators and policy makers are to encourage transparency in financial reports and the preparation of capital market literacy programs.  

The capital market is an arena where investors can meet issuers who want to offer or obtain securities. For someone who wants to become an investor, having a good understanding of the capital market is very important, so they need to study how this market works carefully. Education regarding the capital market is really needed by potential investors, and this can be done by stock exchange managers to provide great benefits. The more people are interested, the higher the reputation of the capital market. Investments are assets used by companies to increase wealth through the distribution of results, such as interest, royalties, dividends and rent, as well as to increase value or obtain other benefits from trade relationships. Shares and fixed assets are also included in investments. Prospective investors must have a deep understanding of the capital market and special skills in analyzing and understanding market conditions in order to make the right decisions and avoid losses.

This study aims to analyze the effect of BI Rate, Rupiah exchange rate, and accounting profit on the Composite Stock Price Index (IHSG) in Indonesia. As one of the main indicators in the capital market, IHSG reflects the overall stock market performance and is influenced by various macro and micro economic factors. BI Rate as the reference interest rate, Rupiah exchange rate as an indicator of currency exchange rate, and accounting profit as a measure of company performance have high relevance to the movement of IHSG. This study uses a literature review method by referring to various previous studies that discuss the relationship between these variables. The results of the analysis show that the three variables have a significant influence on IHSG, both directly and indirectly. BI Rate and Rupiah exchange rate affect IHSG through financial market mechanisms, while accounting profit is more related to investment decisions and individual company performance. These findings provide insight for investors, policy makers, and academics to understand the dynamics of the relationship between economic indicators and stock market performance in Indonesia.

This study focuses on analyzing the impact of Islamic financial literacy on the interest in investing in the Shariamarket. Islamic financial literacy involves a deep understanding of financial principles that comply with Islamic law, including zakat, riba, and the principle of justice in financial transactions. The growing awareness of halal and Sharia-compliant investments suggests that Islamic financial literacy can be a decisive factor in investment decisions. This study uses a quantitative method by distributing questionnaires to 200 respondents, comprising prospective investors and active investors in the Sharia capital market. The results of the study indicate that higher levels of Islamic financial literacy positively correlate with greater interest in investing in Sharia capital market instruments such as sukuk and Sharia mutual funds. These findings highlight the need for more intensive Islamic financial education programs to improve public literacy and support the development of the Sharia capital market in Indonesia. Supporting policies and innovations in Sharia investment products are also identified as crucial factors in encouraging investment interest. Thus, this study concludes that enhancing Islamic financial literacy can play a significant role in advancing the Sharia capital market and supporting a more inclusive Islamic economy. This research demonstrates that Islamic financial literacy significantly influences investment interest in the Sharia capital market. Investors with a solid understanding of Islamic financial principles such as riba (usury), zakat (almsgiving), and profit-sharing are more likely to opt for Sharia-compliant investment products like sukuk (Islamic bonds) and Sharia mutual funds. The study underscores the importance of comprehensive financial education programs and the availability of accessible information to enhance Islamic financial literacy among the public. These efforts are expected to increase participation in the Sharia capital market and support more inclusive and sustainable economic growth in Indonesia.

The expansion of the scope of People's Economic Bank (BPR)s to enter the capital market is new in Indonesia. The legal arrangements are not yet fully regulated. Several obstacles are experienced by BPRs towards the capital market. Therefore, innovations are needed that can make BPRs enter the capital market by applying some existing legal arrangements even though they are not specifically regulating BPRs. The purpose of this study is to determine the barriers and innovations in the framework of BPR towards the capital market. Normative legal method by taking a statutory and conceptual approach. There are several challenges BPR in heading to the capital market. The answer to these challenges is innovation. The existence of innovations that can be applied to BPR in order to go to the capital market can be seen from the legal arrangements that already exist in other fields but can be applied in the BPR. BPR experiences several obstacles, including (1) Changes from closed to public LLC must go through several processes before heading to the capital market, (2) Changes in share ownership that can determine company policy and (3) Capital fulfillment factors required by the capital market. The innovations made are (1) the fulfillment of corporate governance, (2) Share ownership arrangements that can still be held by families with (a) The form of holding companies and subsidiaries with certain ownership arrangements, and (b) Applying dual class shares, (3) BPRs that have not met the capital requirements can enter through the OTC market with reporting obligations in each securities transaction.

The aim of this research is to find out how the sharia capital market affects the sharia economy. This research was conducted through a qualitative literature study, where the author collected data from various journal articles, books and other sources. The results of this research found that Islamic capital markets promote Islamic economics by incorporating ethical ideals into economic operations, resulting in a more inclusive and stable ecosystem. Profit and loss sharing used in several sharia capital market instruments including mudharabah and musyarakah encourages better risk management.