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This study aims to examine the effect of working capital efficiency and leverage on profitability and its implications for firm value in manufacturing companies listed on the Indonesia Stock Exchange (IDX) during the 2020–2025 period. The post-COVID-19 pandemic condition has increased operational risks for manufacturing companies due to fluctuations in interest rates, exchange rates, cash management, inventories, and receivables. Therefore, companies are required to implement more effective financial strategies to maintain competitiveness. Profitability is positioned as an intervening variable because previous studies showed inconsistent results regarding the relationship between working capital efficiency, leverage, profitability, and firm value. This research uses a quantitative approach with path analysis to examine direct and indirect relationships among variables. The population consists of all manufacturing companies listed on the IDX, while the sample includes 45 companies selected from 270 firms using purposive sampling based on specific criteria, such as consistent listing and financial performance. The results indicate that working capital efficiency has a significant positive effect on profitability, leverage has a significant negative effect on profitability, profitability significantly increases firm value, and profitability fully mediates the effect of working capital efficiency and leverage on firm value. These findings provide theoretical and practical implications for managers and investors in financial decision-making.

This study examines the determinants of the Jakarta Composite Index (JCI) based on three main macroeconomic factors namely inflation, the USD/IDR exchange rate, and the SBI interest rate (BI Rate) covering the period January 2020 to December 2025, in the context of post-COVID-19 pandemic recovery and global economic turmoil. A quantitative approach was employed using the Ordinary Least Squares (OLS) method, with 72 monthly observations derived from secondary data sourced from official institutions including Bank Indonesia (BI), the Central Statistics Agency (BPS), the Indonesia Stock Exchange (IDX), and the Financial Services Authority (OJK). Classical assumption tests were applied comprising the Jarque-Bera normality test, Variance Inflation Factor (VIF) for multicollinearity, Breusch-Godfrey for autocorrelation, White Test for heteroscedasticity, and Ramsey RESET for model specification. Partially, inflation, exchange rate, and BI Rate each demonstrate a positive and significant effect on the JCI (p < 0.05). Simultaneously, all three variables exert a significant combined influence on the JCI, with a coefficient of determination R² = 0.4414, indicating that the model explains 44.14% of the variation in the JCI. The remaining 55.86% is attributed to other variables outside the model. Classical assumption test results reveal violations of normality, autocorrelation, and heteroscedasticity assumptions, although the model is free from multicollinearity. These findings confirm that Bank Indonesia's monetary policy has a significant and measurable impact on capital market performance. Further research is recommended using more advanced time series models such as GARCH or VECM to address violations of classical assumptions and improve estimation efficiency.

This study evaluates how macroeconomic variables such as interest rates, inflation, and exchange rates affect the returns on corporate bonds issued by the banking sector in Indonesia. Corporate bonds are an attractive investment alternative, but their performance is highly influenced by fluctuations in national economic conditions. This study uses secondary data obtained from company financial reports, macroeconomic data, and bond market information over a certain period. Multiple linear regression analysis is applied to assess the extent to which each factor affects bond returns. The analysis results indicate that increases in interest rates and inflation tend to reduce bond returns, while the effect of exchange rates is inconsistent and depends on the economic stability at the time. These findings can serve as important considerations for investors, financial analysts, and policymakers in managing risks and opportunities in the Indonesia banking bondmarket.

This study aims to analyze the effect of inflation and interest rates on the stock prices of banking companies listed in the IDX80 index on the Indonesia Stock Exchange for the 2019–2024 period. Research data were obtained from official reports of banking company stock prices as well as inflation and interest rate data from Bank Indonesia. The study used a quantitative approach with multiple linear regression methods through the SPSS application, and classical assumption tests were conducted as a requirement for analysis. The study population included all IDX80 banking companies, with a saturated sampling technique resulting in five banks that met the criteria during the study period. The results of the partial test indicate that inflation has a positive and significant effect on stock prices, while interest rates have a negative and significant effect on stock prices. This indicates that stable inflation can still improve the performance of the banking sector, while rising interest rates tend to depress stock prices due to increased borrowing costs and a shift in investment to other instruments. The results of the simultaneous test also show that inflation and interest rates together have a significant effect on the stock prices of IDX80 banking companies. The results show that inflation has a significant positive effect on stock prices with a significance value of 0.034, while interest rates have a significant negative effect with a significance value of 0.018. Simultaneously, inflation and interest rates have a significant effect on stock prices with a calculated F value of 14.549 > Ftable 2.70 and a significance of 0.000 < 0.05.

This study aims to analyze the influence of interest rates, exchange rates, and coffee production on the value of coffee exports in South Sulawesi. The background of this study is based on the condition of South Sulawesi coffee exports which have experienced significant fluctuations in recent years despite coffee production tending to increase. This study uses a quantitative approach with time series data for the period 2009-2023 sourced from the World Bank, International Monetary Fund and the Directorate General of Plantations, the Food Crops, Horticulture and Plantation Service of South Sulawesi Province. Data analysis was conducted using multiple linear regression through the EViews 12 application with the classical assumption test as a model prerequisite. The results show that partially interest rates have a significant effect on coffee exports, while exchange rates and coffee production do not have a significant effect. Simultaneously, the three independent variables do not have a significant effect on the value of coffee exports. This finding indicates that external factors, especially interest rates, are more dominant in determining the performance of South Sulawesi coffee exports than internal factors of production and exchange rates.

The rapid development of information technology has increased the use of online lending services, including illegal platforms that impose excessive interest rates, misuse personal data, and employ intimidating debt collection practices. Limited legal and digital literacy has made communities more vulnerable to these risks. This Community Service Program aims to enhance the understanding of residents in Kradenan Village, Tuban Regency regarding the characteristics of illegal online loans, their social, economic, and psychological impacts, and the relevant legal protections under regulations such as the Electronic Information and Transactions Law, the Personal Data Protection Law, and OJK Regulation No. 77/2016. Through participatory legal education and interactive discussions, the program achieved full participation and improved participants’ knowledge by up to 75%. Residents became more capable of identifying illegal loan applications, recognizing data misuse risks, and understanding preventive measures and available legal remedies. This program effectively increased public awareness to use digital financial services more responsibly and avoid the dangers of illegal online lending.

This study aims to analyze the effect of global diversification, exchange rates, and interest rates on the performance of mixed mutual funds in Indonesia during the period 2020–2024. The method used is a quantitative approach with the Partial Least Squares–Structural Equation Modeling (PLS-SEM) technique, using secondary data from the Financial Services Authority, Bank Indonesia, and Bareksa. The sample consists of three mixed mutual fund products that meet the criteria of portfolio data completeness, net asset value, and performance report publication. The results show that exchange rates have a positive and significant effect on mutual fund performance, indicating that exchange rate fluctuations play an important role in determining changes in portfolio returns. The global diversification variable proved to have no significant effect, illustrating that exposure to international markets has not provided stable benefits in improving the performance of mixed mutual funds. Interest rates also did not show a significant effect because the composition of mixed portfolios was able to withstand the impact of monetary policy changes. Simultaneously, the three independent variables were able to explain 66.7 percent of the variation in mixed mutual fund performance, indicating that macroeconomic dynamics and portfolio strategies have an important contribution in influencing the performance of this collective investment instrument.

The rapid advancement of technology has made it easier for the public to access online loans (pinjol), but it has also increased the risk of misuse by illegal entities. The Financial Services Authority (OJK) recorded that from 2018 to 2022, it shut down 4,265 illegal online lending platforms. However, many cases continue to emerge due to the ease of creating applications and the use of overseas servers. Teachers are among the most affected victims due to low salaries and high living costs. The impacts of illegal online loans are highly detrimental, including the leakage of personal data, threats, intimidation, and excessively high interest rates. Education is crucial to prevent new victims. Isometric motion graphics are chosen as a medium because of their advantages in delivering information through engaging, clear, and easily understood visual and audio elements that are sustainable for audiences.

In this era of digital disruption, Islamic banks face significant challenges in maintaining public trust. Despite growth in assets and market share, many believe that Islamic banks operatein much the same way as conventional banks, while financing marginsare often considered higher than conventional bank interest rates. This perception contributes to low public trust, declining interest in saving, and public hesitation in using Islamic financing products. This study aims to explore how entrepreneurialinnovation and internalization of da'wah values canbe strategies to rebuild public trust in Islamic banks. Using the library research method, this study analyzes secondary data from scientific journals, reports, andliterature related to Islamic banking, digital transformation, and Islamic managerial ethics Islam. The results of the study show that the integration of dakwah princip lessuch as transparency, fairness, and ethical management in entrepreneurial practicesand digital innovation can strengthen public trust andincrease the competitiveness of Islamic banks. This study provides theoretical and practical insights for Islamic banks to align digital innovation and business strategies with core Islamic values, there by supporting financial sustainability and social legitimacy.

The Jakarta Composite Index (JCI), also known as the Indonesia Composite Index is a key indicator that reflects the performance of the Indonesian capital market and serves as a reference for assessing economic conditions and making investment decisions. This study aims to examine the influence of macroeconomic factors such as inflation, the rupiah exchange rate, and interest rates along with an external factor, the Dow Jones Index, on the JCI during the period 2020–2024. This research contributes by incorporating the DJIA as a proxy for global market effects on the JCI and by using the most recent and comprehensive dataset covering the pandemic and subsequent economic recovery. A quantitative approach was employed, using monthly time-series secondary data. The study applied saturated sampling, resulting in 60 observations. The data were obtained from official sources, namely the Indonesia Stock Exchange (IDX), Bank Indonesia (BI), the Central Statistics Agency (BPS), and Investing.com. Multiple linear regression was used as the analysis technique. The results show that inflation and the Dow Jones Index have a significant positive effect with the JCI, while the rupiah exchange rate has a significant negative effect. In contrast, interest rates do not show a significant effect on the JCI. These findings suggest that investors should consider inflation, the exchange rate, and global market movements (DJIA) when making investment decisions, while interest rates may play a less prominent role.  

This study examines the influence of credit interest rates and third-party funds on the credit distribution of PT BPR BKK Banjarharjo, Brebes Regency, using a quantitative approach based on secondary data from monthly financial reports between 2020 and 2024, amounting to 60 observations. The results show that, partially, credit interest rates exert a negative and significant effect on credit distribution, while third-party funds demonstrate a positive and significant impact. Simultaneous testing further confirms that both variables collectively have a significant influence on credit distribution. These findings emphasize the importance of banking institutions in carrying out their intermediation function effectively, where the ability to maintain competitive credit interest rates and strengthen public fund mobilization becomes a strategic necessity to improve credit growth and financial stability. Moreover, the study highlights the role of micro-banking as a foundation for regional economic development, particularly in rural areas where local banks serve as drivers of community empowerment and sustainable economic activity. By reinforcing prudent management of interest rates and optimizing fund collection, banks can ensure not only improved financial performance but also the expansion of credit access for micro, small, and medium enterprises. The outcomes of this research are expected to provide practical contributions to policymakers in the banking sector, enrich scientific literature in financial management, and serve as a relevant reference for subsequent studies focusing on credit distribution, financial intermediation, and the development of microfinance institutions.

Banking stability plays a crucial role in maintaining financial system resilience and supporting national economic growth. Fluctuations in macroeconomic factors often impact banks' financial health, particularly their capital. This study aims to explore how macroeconomic factors such as inflation, central bank benchmark interest rates, and gross domestic product (GDP) impact capital adequacy ratio (CAR) in conventional banks listed on the Indonesia Stock Exchange (IDX) from 2020 to 2024. This study employed a quantitative approach with an associative design, utilizing secondary data. The sample size for this study was 43 conventional banks. Data analysis was performed using multiple linear regression using SPSS. The findings indicate that inflation and benchmark interest rates do not significantly impact financial health, while GDP indicators show a modest positive trend. These findings confirm that macroeconomic conditions are not yet a dominant factor in determining bank capital adequacy. Therefore, it is suspected that internal factors such as risk management, profitability, and operational efficiency play a greater role in maintaining bank capital stability.

The purpose of this study is to analyze the effect of interest rates and economic growth on stock returns in companies in the energy sector listed on the Indonesia Stock Exchange during the period 2019 to 2023. The method used is a quantitative approach with panel data regression analysis. The study population includes 90 company data from the sector. The sample was determined through a purposive sampling method, resulting in 46 companies that meet the established criteria. The results of the study indicate that interest rates have a significant effect on stock returns, while economic growth also shows a significant effect.

This study aims to: (1) identify and analyze the development of Third Party Funds (DPK), inflation, savings interest rates, Gross Regional Domestic Product (GRDP) at constant prices, and regional expenditure across Indonesian provinces during 2019–2023; and (2) examine the influence of inflation, savings interest rates, GRDP at constant prices, and regional expenditure on Third Party Funds in the same period. The research employs panel data regression analysis using EViews 12 for data processin.The results show that (1) the highest average growth of Third Party Funds (DPK) was recorded in South Kalimantan (11.89%), while the lowest was in Banten (-10.87%). The highest average inflation occurred in East Java (3.7%) and the lowest in Papua (2.1%). The savings interest rate peaked in 2019 at 1.17% and declined to its lowest level in 2022 at 0.37%. The highest GRDP growth was found in North Maluku (16.41%) and the lowest in West Papua (1.16%). Similarly, North Maluku also recorded the highest regional expenditure growth (14.08%), while West Papua experienced the lowest (-17.24%), reflecting economic disparities across regions in Indonesia. (2) The regression analysis reveals that GRDP at constant prices and regional expenditure have a significant and positive effect on Third Party Funds, while the savings interest rate has a significant and negative effect. In contrast, inflation shows no significant effect on Third Party Funds.

This study aims to determine the effect of interest rates and inflation on the profitability of property and real estate sector companies listed on the Indonesia Stock Exchange (IDX) during the period 2020-2024. Profitability is measured using the Return on Assets (ROA) ratio, while interest rates refer to the BI-7 Day Reverse Repo Rate and inflation is calculated based on the Consumer Price Index (CPI) data from Bank Indonesia. This study uses a quantitative approach with multiple linear regression analysis methods and classical assumption tests supported by data processing using SPSS version 27 software. The sample was selected using purposive sampling techniques with criteria of companies that consistently submit annual financial reports, do not record losses during the research period, and use the Rupiah currency. The research results indicate that partially, interest rates have a positive and significant effect on profitability, while inflation does not have a significant effect on profitability. However, simultaneously, interest rates and inflation together have a significant effect on the company's profitability. These findings are expected to serve as a strategic reference for companies in formulating financial policies to maintain profitability stability amidst macroeconomic dynamics.

This study aims to analyze the effect of changes in interest rates, exchange rates, economic growth, and world oil prices on stock returns in the transportation and logistics sector in Indonesia during the period 2006–2024. This sector was chosen because it is highly vulnerable to fluctuations in macroeconomic factors that have a direct impact on companies' operating costs and financial performance. The method used is multiple linear regression with an annual panel data approach, using a sample of transportation and logistics companies listed on the Indonesia Stock Exchange. The independent variables include changes in interest rates, exchange rates, economic growth, and oil prices, while the dependent variable is stock returns. The results show that, partially, only changes in interest rates have a significant negative effect on stock returns. Conversely, exchange rates, economic growth, and oil prices have no statistically significant effect. Simultaneously, these four variables also show no significant effect on stock returns. This study makes a new contribution through the use of a long observation period and a focus on the transportation and logistics sector, thereby providing a deeper understanding of this sector's sensitivity to macroeconomic conditions.

Financial distress refers to a condition where a company experiences financial difficulties and if it is not resolved immediately, it will lead to bankruptcy. Several models can be used to measure financial distress, one of which is the Zmijewski model. This study aims to analyze the influence of financial ratios and macroeconomic factors on financial distress among technology companies listed on the Indonesia Stock Exchange. The research was conducted at technology companies listed on the IDX for the 2020–2024 period, with a sample size of 44 companies selected using a purposive sampling method. The study employed secondary data derived from company financial statements obtained through the official IDX website and analyzed using SPSS version 27. The findings reveal that financial ratios specifically, profitability (ROE) have a significant negative effect on financial distress, while leverage (DER) has a significant positive effect. Meanwhile, macroeconomic factors such as inflation and interest rates have no effect on financial distress.

This study analyzes the dynamics of Non-Performing Loans (NPLs) in the Indonesian banking sector by examining both internal and external factors affecting financial stability. The variables included in the research are NPL, Loan to Deposit Ratio (LDR), lending interest rate, inflation, Household Debt to Income (HDTI), fintech lending, and Capital Adequacy Ratio (CAR). Using annual secondary data from 2005 to 2024, sourced from the World Bank and Statistics Indonesia (BPS), the study employs a Vector Autoregression (VAR) method. This method includes stationarity tests, optimal lag selection, cointegration tests, Impulse Response Function (IRF), and Forecast Error Variance Decomposition (FEVD). The results show that most variables demonstrate a dominant contribution from their own shocks, although interactions between variables remain significant. The IRF analysis reveals that CAR and HDTI are relatively stable and quickly return to equilibrium, while fintech lending, inflation, and NPLs show more volatile responses, making them more susceptible to external shocks. LDR and lending interest rates are sensitive in the short term but tend to stabilize over the long run. FEVD further indicates that inflation plays a significant role in driving NPL variations, while fintech lending is closely associated with CAR in the long term. The study concludes that the stability of Indonesia’s banking sector is influenced by both internal factors like CAR and LDR, as well as external factors such as inflation, fintech lending, and household debt. Thus, a coordinated approach involving monetary policy, macroprudential measures, and financial supervision is crucial to enhance the resilience of the banking sector against global and domestic economic shifts.

The development of the internet in Indonesia has opened up numerous opportunities, including in the field of online commerce. One widely used feature in online transactions is the "Paylater" system, as implemented by Shopee through its Shopee Paylater service. This feature allows users to purchase goods now and pay for them later, with relatively low interest rates. This study aims to examine the regulations and implementation of Shopee Paylater, as well as the legal protection available to consumers in cases of default or issues with the service. The study refers to the Indonesian Civil Code, Law No. 8 of 1999 on Consumer Protection, and the Financial Services Authority Regulation (POJK) No. 77/POJK.01/2016 on Information Technology-Based Lending Services. The research findings indicate that Shopee Paylater users are bound by a standard agreement with PT. Commerce Finance during the purchasing process. Shopee is responsible for protecting consumers in accordance with applicable regulations, but breaches related to network security can pose risks to consumers. In addition, while the service facilitates easier access to goods and services for users, it is crucial that consumers fully understand the terms and conditions of the service, including the consequences of late payments. The study also emphasizes the need for clearer and more comprehensive consumer protection regulations, especially in light of the rapid growth of digital financial services. This research highlights the importance of adequate legal protection for users of Paylater services to ensure their rights are safeguarded in the evolving digital economy.

This study aims to analyze the influence of inflation and interest rates on banking profitability as measured through Return on Assets (ROA) in conventional banks listed on the Indonesia Stock Exchange (IDX) during the 2020–2024 period. The research was conducted from April to May 2025 with a quantitative approach and multiple linear regression analysis methods. The data used are secondary data obtained from the annual financial statements of eight conventional banks as well as macroeconomic data from Bank Indonesia, which were selected through the purposive sampling method. The data analysis process includes descriptive statistics, classical assumption test, t test, F test, and determination coefficient. The results of the study show that partially, neither inflation nor interest rates have a significant effect on ROA. This is shown by the value of t calculating inflation of 0.049 < t table 2.02619 with a significance of 0.961 > 0.05, and t calculating interest rates of 1.163 < t table 2.02619 with a significance of 0.252 > 0.05. However, simultaneously, inflation and interest rates have a significant effect on ROA, as shown by the calculated F value of 8.698 > F table 3.25 and the significance of 0.001 < 0.05. These findings indicate that although individual macroeconomic variables do not have a significant impact, together they have an influence on banking profitability. This research contributes to policy makers and banking industry players in understanding macroeconomic dynamics on banks' financial performance.