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This study presents a comprehensive evaluation of three main Islamic monetary instruments Sukuk, the Islamic Interbank Money Market (PUAS), and Sharia Repo to strengthen the resilience and stability of Indonesia’s Islamic financial system. Using a descriptive literature review method, this study analyzes relevant academic sources, regulatory frameworks, and policy reports. Sukuk is examined as an asset-based instrument that plays a crucial role in medium- to long-term financing and fiscal management. PUAS is analyzed as a mechanism for short-term liquidity management among Islamic banks based on mudharabah and wakalah contracts. Meanwhile, Sharia Repo is evaluated through the sale and repurchase mechanism of Sharia State Securities (SBSN) to support liquidity stability in Islamic banking. The findings reveal strong synergy among these instruments in managing excess liquidity, controlling inflation, and strengthening the transmission of Bank Indonesia’s monetary policy in compliance with Sharia principles. This study recommends enhancing public literacy, strengthening innovative regulatory frameworks, and developing Islamic financial infrastructure to promote inclusive and sustainable growth in Indonesia’s Islamic financial sector.

Sharia based financial technology (fintech) that integrates educational features and securities crowdfunding is considered a strategic approach to address the low levels of Islamic financial literacy and inclusion in Indonesia. This article aims to examine how the integration of Islamic financial education and the use of sharia-compliant securities crowdfunding platforms can serve as an effective model to enhance public participation especially among MSMEs and younger demographics in the Islamic financial ecosystem. The study employs a literature review and case analysis based on recent scholarly works and industry reports. Findings indicate that fintech platforms equipped with interactive financial education modules and sharia investment simulations can significantly improve public understanding of Islamic financial principles and products. Moreover, sharia-based securities crowdfunding offers participatory investment opportunities while promoting ethical and halal economic activities. Nonetheless, challenges remain in regulatory alignment, sharia compliance verification, and public trust. Therefore, collaboration among regulators, industry players, and educational institutions is essential to foster an inclusive, transparent, and sustainable Islamic fintech ecosystem. This model is expected to be an innovative solution to expand access to Islamic financial services while strengthening public literacy and confidence in Islamic finance.

The Indonesia Stock Exchange (IDX) provides public access to investment. Investors can invest in various companies through publicly listed securities using capital market processes to obtain returns and dividends. To obtain returns and dividends, investors first read the company's financial statements to avoid losses. Aiming to provide empirical evidence, this study analyzed non-financial corporations listed on the IDX between 2020 and 2023 to determine the impact of financial performance on dividend policy, along with company size as a moderating variable. This research employed a quantitative approach and purposive sampling for data selection, which was updated in line with predetermined indicators. Over four years, 147 different companies served as study samples. The study used warpPLS 7.0 as a data analysis tool and combined outer and inner models to evaluate independent variable hypotheses and moderating hypotheses. The study found that liquidity plays a role in dividend policy, profitability plays a role in dividend policy, activity plays a role in dividend policy, and only solvency does not play a role in dividend policy. It was also found that company size does not moderate the relationship between liquidity and dividend policy, but it does moderate the relationship between profitability and dividend policy. Company size also does not moderate the relationship between activity and dividend policy, and does not strengthen the relationship between solvency and dividend policy.

This study examines the legal protections and enforcement mechanisms against securities dilution in technology‐sector issuers adopting multiple voting rights stock classifications following an initial public offering (IPO) under Indonesia’s Financial Services Authority Regulation No. 22/POJK.04/2021. It addresses two core issues: the adequacy of minority shareholder safeguards embedded within the regulatory framework and the nature and extent of share dilution experienced by existing investors in dual‐class structures. Employing a normative legal research design with a doctrinal approach, the analysis draws on primary sources including UU No. 40/2007, UU No. 4/2023, POJK 22/POJK.04/2021, issuer prospectuses, and PT GoTo Gojek Tokopedia’s 2022–2024 annual reports complemented by secondary literature and tertiary legal references. Findings reveal that POJK 22/POJK.04/2021 integrates quantitative limits (a 90 percent cap on aggregate superior voting rights), procedural safeguards (minimum 5 percent ordinary‐shareholder quorum and independent renewal approval), temporal constraints (10‐year sunset clause), and one‐share‐one‐vote requirements for critical corporate actions, alongside a novel graduated voting ratio system. The GoTo case study underscores persistent misalignment between cash‐flow and voting rights, marked by significant share price volatility and reliance on share buybacks rather than dilutive issuances. While the regulatory framework is comprehensive, its efficacy is contingent on robust enforcement, transparency of indirect ownership, and institutional maturity. Empirical evaluation of post‐IPO dilution events, minority litigation outcomes, and enforcement actions is recommended to assess real‐world impacts.

This financial performance study is vital for responsible a corporation's financial success. The goal the purpose of this research is to discover and investigate the effects of excellent corporate governance and firm scope on financial results. The dependent variable analyzed in this study is financial results, with the independent factors being the following proportion of board members, management equity, institutional investment, audit board, and firm size. This study relies on secondary data. The population includes 196 manufacturing firms. This study also incorporated data from 38 manufacturing businesses publicly listen the samples, taken from the Indonesia Standard Conversation (IDX). Were chosen through a purposive sample method strategy, yielding 114 samples during a three-year period spanning 2021 to 2023. This research employed manifold reversion examination, which was carried out according to the findings of this study, which were analyzed by the SPSS (Arithmetical Creation then Facility Answers) appeal. The proportions of commission board, management equity, and institutional investment significantly affect the company’s financial results. These companies' financial performance, however, is unaffected by the audit board or company size.  

This study aims to analyze the influence of financial literacy, investment risk, sharia compliance, and subjective norms on individual’s interest in investin in sharia-based securities crowdfunding (SCF) stock instruments in Jakarta. A quantitative approach with descriptive method was employed in this research. Primary data were collected through questionnaires distributed to 240 respondents selected using purposive sampling. The population in this study consisted of individuals who are interested in sharia SCF stocks and reside or work in Jakarta. The data were analyzed using structural equation modeling-partial least squares (SEM-PLS). The results indicate that finansial literacy, investment risk, sharia compliance, and subjective norms have a positive and significant influence on investment interest in sharia-based securities crowdfunding stock in Jakarta.

Stock return refers to the income received by investors from their investment in a firm, either directly or through a securities firm. The level of stock return is crucial in investment analysis as it serves as a key indicator for investors in evaluating the performance and profit potential of a stock. This study aims to examine the effect of profitability, liquidity, leverage, and firm size on stock returns in manufacturing sector companies listed on the Indonesia Stock Exchange (IDX) during the 2020–2023 period. The sampling technique used was purposive sampling, resulting in a sample of 65 companies. Data analysis techniques employed include descriptive statistics and inferential statistics, processed using IBM SPSS 25. The findings indicate that profitability has a significant positive effect on stock return, liquidity has a significant positive effect, leverage has a significant negative effect, and firm size also has a significant positive effect on stock return. The implications of this study are expected to provide empirical contributions regarding the influence of these variables on stock returns and to offer managerial insights and additional references for corporate decision-making aimed at increasing stock returns.   Keywords: stock return, profitability, liquidity, leverage, firm size

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.

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.

Generation Z in Indonesia is increasingly interested in investment, particularly in mutual funds, but still faces challenges such as low financial literacy and a lack of understanding of investment risks. This study aims to analyze the influence of financial literacy, income, and investment risk on mutual fund investment decisions among Generation Z registered with the Indonesian Central Securities Depository (KSEI). This research employs a quantitative descriptive method with a causal approach to examine the cause-and-effect relationship between independent variables (financial literacy, income, and investment risk) and the dependent variable (mutual fund investment decisions). The study population consists of Generation Z investors who invest through KSEI, with a sample of 100 respondents selected using a non-probability sampling technique, specifically purposive sampling. Data collection was conducted through questionnaires as the primary instrument, supplemented by secondary data from journals, books, and other sources. The collected data were analyzed using the Statistical Package for the Social Sciences (SPSS) version 29. The research results show that financial literacy, income, and investment risk have a positive and significant influence on mutual fund investment decisions among Generation Z registered with the Kustodian Sentral Efek Indonesia (KSEI).

Indonesia, which previously traded carbon through a voluntary market mechanism, has switched its carbon trading implementation through a carbon exchange (IDX Carbon) since September 26, 2023. This means that carbon trading in Indonesia is carried out through the Indonesia Stock Exchange (IDX), and all carbon units are traded as securities or securities, whereas previously carbon transactions in Indonesia were voluntary. The implementation of carbon trading is a form of Indonesia's commitment to implementing the Paris Agreement and the Kyoto Protocol in reducing Greenhouse Gas emissions by 29% in 2030 with its own capabilities and up to 41% with international support. In the implementation of carbon trading in Indonesia, it is carried out through a mandatory market and the Indonesia Stock Exchange has been appointed as the institution organizing carbon trading, but the regulations that form the basis for the implementation of carbon trading do not clearly regulate how to determine carbon prices, the institution authorized to issue Technical Approval for Upper Emission Limits for Business Actors (PTBAE-PU) and Greenhouse Gas Emission Reduction Certificates as units traded on the Carbon Exchange.

Based on the great development that has included all aspects of life, including financial investment, and with the entry of technology with all its strength in facilitating business, great thought has begun to be given to explaining how technology affects investor behavior when entering the securities market. The research dealt with a digital platform (Trader4) and its impact on attracting investors to invest through it. The results showed that digital platforms have a great impact on investor behavior by providing many services that facilitate work for the investor, which prompted many investors to resort to digital platforms and invest through them and leave traditional markets. This gave indications that digital platforms have changed investor behavior through the attraction factors that they used towards the investor. The research presented a set of recommendations, the most important of which was to work on raising awareness and understanding among investors through the media and publishing on how to choose the right path in building their financial investments and using technology in its forms that help build society financially and investment-wise.

Public enthusiasm for government bonds is high due to the view that such investments are considered more saving and promising. In 1950 the government issued ORI with interest of 3% per year, but the bonds failed to pay because the government at that time did not have enough money so that many investors holding bonds as Government Debt Instruments experienced losses. In this research, a juridical analysis of the position of the parties in Government Debt Instruments (SUN) was carried out and an analysis of the form of legal protection for holders of Government Debt Instruments (SUN) in the risk of default provided by the government. The research method used in writing this law is normative juridical, with a statutory approach. There are findings that installments of principal and interest on state debt securities will be included as expenditure items in the APBN each year. In the event that the risk of default does not sever the civil relationship between the SUN Issuer and the SUN holder as an Investor in a civil relationship, investors who suffer losses based on their civil rights can file a lawsuit for default due to the risk of default.

This study aims to analyze the influence of secondary reserves, which consist of placements in other banks, securities owned, and acceptance bills, on wadiah deposits at PT Bank Syariah Indonesia Tbk. using a quantitative approach with secondary data from the bank's monthly financial statements for the period 2022-2024. Researchers select relevant research subjects to obtain significant findings. The data were processed using descriptive statistical analysis and multiple linear regression with the help of the SPSS program to test the hypothesis. The results show that there is a significant influence of independent variables on dependent variables, which illustrates the importance of asset quality and fund management in increasing customer trust and, ultimately, the growth of deposits.

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.

Sharia Capital and Investment Market is part of the financial market based on Islamic sharia principles. The main goal is to ensure that investment and securities trading activities are in accordance with Islamic rules and values, such as fairness, transparency, and the prohibition of usury, gharar (uncertainty), and maysir (speculation). This system supports the development of sharia-based investment which continues to increase in line with the awareness of the Muslim community to manage their finances in accordance with sharia.

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 purpose of The purpose of this study is to evaluate and examine the influence of monetary turnover and income rotation on the yield on the assets (ROA) in food and beverage businesses listed on the stock exchange in Indonesia. (IDX). The subjects in the present research were factories in the Industrial Sector, Food and Beverage Division, enrolled on the Indonesian Securities Exchange. (2020-2022), totaling 18 companies. Based on H1, the financial turnover component from 2020 to 2022 has a significant and beneficial effecti oni Returni Oni Assetsi (ROA) ini foodi andi beveragei companiesi listedi oni thei IDX. Based on H2, the inventory turnover variable hasi ai significanti and beneficial effect on ROA in food and beverage companies listed on the IDX in 2020 and 2022. Based on H3, cashi turnoveri andi accountsi receivablei turnoveri havei ai goodi andi significanti effecti oni ROA ini foodi and beveragei companiesi listedi oni the IDX in 2020-2022.

This research aims to underscore the significance of women's emotional intelligence in enhancing the effectiveness of the Board of Directors, a crucial component of internal governance, particularly during crises. Despite strides made in recent decades in appointing women to senior roles in government, business, and education, challenges persist in improving women's leadership opportunities, especially in developing countries. The study utilizes statistical methods, including Pearson's correlation, to analyze the relationships between variables within a sample of banks listed on the Iraqi securities market, comparing periods before and during the COVID-19 pandemic (2019 and 2020). The goal is to measure the impact of female emotional intelligence on the Board of Directors' ability to manage crises, focusing on variables such as conservative accounting policies, Board compensation and benefits, meeting frequency, the ratio of external auditor fees to enterprise capital, enterprise capital, share profitability, and the market-to-share profitability ratio. Findings indicate that emotional intelligence (measured by the number of females on the Board) positively influences conservative accounting policies and meeting frequency during crisis periods. Conversely, the pre-crisis period showed a negative relationship, suggesting a proactive and risk-responsive stance by women during crisis. Additionally, the study observed an inverse relationship between crisis periods and both Board compensation and external auditor fee ratios, implying a cost-reduction strategy facilitated by female emotional intelligence. The crisis period also saw an increase in the profitability of individual shares and the market-to-share profitability ratio. The research recommends expanding the study to compare the role of emotional intelligence in Boards between developing and developed economies.

One of the roles of the Bank Perekonomian Rakyat (BPR) is to provide credit to improve the economic welfare of the lower middle class through micro and small business services. However, the provision of BPR credit is prone to misappropriation, one of which is used as an election campaign fund. This research is a legal research in analyzing the problem using literature study which is analyzed qualitatively. The results obtained from this research are that the misuse of BPR credit used as campaign funding can be suspected of being a criminal act of corruption and money laundering because it is obtained from state finances and there are indications of disguising and hiding money. The source of state finances provided to BPRs can be viewed in terms of state capital participation in the form of securities and the provision of facilities provided by the government. In anticipating campaign funds originating from criminal acts, the Badan Pengawas Pemilu must cooperate with other parties such as the Public Accounting Office to conduct campaign fund audits and related law enforcement officials such as the Pusat Penelusuran dan Analisis Transaksi Keuangan and the Corruption Eradication Commission to prevent and prosecute the use of money from corruption crimes for campaign funding.