Macroeconomic Fluctuations on Financial Technology Profit: An Empirical Study on GOTO Company 2018-2024
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Apr 30, 2025
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The profitability of a company is an important aspect of the future of a company, especially companies that have gone public where financial performance is an important aspect for investors in considering investment decisions. In the context of digital era activities, various financial technologies (FinTech) have emerged which have brought about important changes in Indonesian banking. This study aims to examine the influence of macroeconomics, namely inflation and interest rates on the return on assets of GOTO Company in the period 2018-2024. The results of the study show that inflation and interest rates have no effect on the return on assets of GOTO Company. This indicates that the profitability of Fintech GOTO is not affected by inflation or interest rates, this condition indicates that there is a different pattern of influence between digital and conventional financial companies in their influence on macroeconomics and profitability.
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References
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Yang, Y., & Wang, Z. (2023). Prediction of return on equity of the energy industry based on equity characteristics. Frontiers in Energy Research. https://doi.org/10.3389/fenrg.2023.1136914
Yeremia Krisna Trihardianto, & Nenik Diah Hartanti. (2022). Effect of Fee Based Income and Inflation Rate on Profitability (ROA) on State-Owned Banks Listed at Indonesia Stock Exchange (IDX) for The 2016 - 2020 Period. East Asian Journal of Multidisciplinary Research. https://doi.org/10.55927/eajmr.v1i3.95
Yunita Sahara, A. (2013). Analisis Pengaruh Inflasi, Suku Bunga BI, dan Produk Domestik Bruto terhadap Return On Asset (ROA) Bank Syariah di Indonesia. Analisis Pengaruh Inflasi, Suku Bunga BI Dan Produk Domestik Bruto Terhadap Return On Assets (ROA0) Bank Syari’ah Di Indonesia.
Alim, S. (2014). ANALISIS PENGARUH INFLASI DAN BI RATE TERHADAP RETURN ON ASSETS (ROA) BANK SYARIAH DI INDONESIA. Jurnal Ekonomi MODERNISASI. https://doi.org/10.21067/jem.v10i3.785
Asif, M., Khan, M. N., Tiwari, S., Wani, S. K., & Alam, F. (2023). The Impact of Fintech and Digital Financial Services on Financial Inclusion in India. Journal of Risk and Financial Management. https://doi.org/10.3390/jrfm16020122
Baker, H., Kaddumi, T. A., Nassar, M. D., & Muqattash, R. S. (2023). Impact of Financial Technology on Improvement of Banks’ Financial Performance. Journal of Risk and Financial Management. https://doi.org/10.3390/jrfm16040230
Bronzini, R., Mocetti, S., & Mongardini, M. (2020). The economic effects of big events: Evidence from the great jubilee 2000 in Rome. Journal of Regional Science. https://doi.org/10.1111/jors.12485
Chakkravarthy, B., Irudayasamy, F. G., Elangovan, R., Rengaraju, N., & Parayitam, S. (2024). Relationship between return on assets and firm value: institutional holdings and firm size as moderators. Quality and Quantity. https://doi.org/10.1007/s11135-023-01696-7
Dahari, J., Setiawan, B., & Muhaimin, A. W. (2014). Analisis Faktor-Faktor Yang Mempengaruhi Keputusan Pelaku Usaha Dalam Pengembangan Agribisnis Lidah Buaya (Aloe vera L.) (Studi Kasus Di Kota Depok Jawa Barat). Agrise.
Franklin, R. (2022). Quantitative methods I: Reckoning with uncertainty. Progress in Human Geography. https://doi.org/10.1177/03091325211063635
Gunawan, A., Jufrizen, & Pulungan, D. R. (2023). Improving MSME performance through financial literacy, financial technology, and financial inclusion. International Journal of Applied Economics, Finance and Accounting. https://doi.org/10.33094/ijaefa.v15i1.761
Hawaldar, I. T., Meher, B. K., Kumari, P., & Kumar, S. (2022). “Modelling the effects of capital adequacy, credit losses, and efficiency ratio on return on assets and return on equity of banks during COVID-19 pandemic.” Banks and Bank Systems. https://doi.org/10.21511/bbs.17(1).2022.10
Hong, Z., Zhang, H., Gong, Y., & Yu, Y. (2022). Towards a multi-party interaction framework: state-of-the-art review in sustainable operations management. In International Journal of Production Research. https://doi.org/10.1080/00207543.2021.1894368
Karadayi, N. (2023). Determinants of Return on Assets. European Journal of Business and Management Research. https://doi.org/10.24018/ejbmr.2023.8.3.1938
Latifah, Z., Nurdin, A. A., & Hazma, H. (2021). Pengaruh Faktor Internal dan Faktor Eksternal Terhadap Profitabilitas Dengan Mediasi NPF Bank Umum Syariah. Indonesian Journal of Economics and Management. https://doi.org/10.35313/ijem.v2i1.3588
Lisa, O., Dahlan, A., & Gustopo, A. A. (2022). Non-Performing Financing as a Medium of Sharia Cooperative Performance in East Java. Jurnal Ekonomi Syariah Teori Dan Terapan. https://doi.org/10.20473/vol9iss20226pp863-873
Paramita, A. S., Ardiansah, M. N., Delyuzar, R. A., & Dzulfikar, A. (2023). The Analysis of Leverage, Return on Assets, and Firm Size on Tax Avoidance. Accounting Analysis Journal. https://doi.org/10.15294/aaj.v11i3.61617
Permana, Y., & Sularto, L. (2008). Analisis Pengaruh Fundamental Keuangan, Tingkat Bunga SBI dan Tingkat Inflasi Terhadap Pergerakan Harga Saham Pada Perusahaan Semen yang Terdaftar di BEI. Jurnal Ekonomi Bisnis.
Puspasari, C. D. (2023). Pengaruh Variabel Makroekonomi dan Kapitalisasi Pasar terhadap Return On Equity (ROE) Saham Syariah (Studi Pada jakarta Islamic Index (JII) Periode 2017-2021). JURNAL MUAMALAT INDONESIA - JMI. https://doi.org/10.26418/jmi.v3i2.65394
Puspitasari, N., Sukarno, H., & Hasanah, H. W. (2021). The Social, Economics, And Finance Analysis On Profit And Loss Sharing Of Islamic Partnership (Case Study of Tobacco Bussiness in Jember Regency, Indonesia). IQTISHODUNA: Jurnal Ekonomi Islam. https://doi.org/10.36835/iqtishoduna.v10i2.1044
Tshwane, G. S., Maleka, M. J., & Tladi, P. M. (2023). Investigating turnover intention in a financial organisation in Gauteng. SA Journal of Human Resource Management. https://doi.org/10.4102/sajhrm.v21i0.2177
Yang, Y., & Wang, Z. (2023). Prediction of return on equity of the energy industry based on equity characteristics. Frontiers in Energy Research. https://doi.org/10.3389/fenrg.2023.1136914
Yeremia Krisna Trihardianto, & Nenik Diah Hartanti. (2022). Effect of Fee Based Income and Inflation Rate on Profitability (ROA) on State-Owned Banks Listed at Indonesia Stock Exchange (IDX) for The 2016 - 2020 Period. East Asian Journal of Multidisciplinary Research. https://doi.org/10.55927/eajmr.v1i3.95
Yunita Sahara, A. (2013). Analisis Pengaruh Inflasi, Suku Bunga BI, dan Produk Domestik Bruto terhadap Return On Asset (ROA) Bank Syariah di Indonesia. Analisis Pengaruh Inflasi, Suku Bunga BI Dan Produk Domestik Bruto Terhadap Return On Assets (ROA0) Bank Syari’ah Di Indonesia.