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The hospitality sector faces major challenges, including fierce competition, low occupancy rates, and high operating costs, especially post-COVID-19 pandemic. This article examines how adaptation strategies, particularly through digital investments, affect customer satisfaction and hotel occupancy rates. This study uses a mixed method approach, combining quantitative and qualitative methods. Qualitative data was collected through in-depth interviews with managers, staff, and guests at five hotels in Semarang, Indonesia, to identify key factors for successful adaptation. Qualitative data are analyzed using MAXQDA software. Quantitative data were analyzed by multiple regression. The results show that investment priorities are a key driver of successful adaptation, although supporting factors such as improved facilities, quality of service, and the involvement of all personnel. Quantitative findings show that hotel adaptation strategies significantly affect customer satisfaction (influence of 47.10%) and occupancy rate (influence of 38.40%). Digitalization enhances operational efficiency, allowing staff to focus on personal interactions. Technologies like AI-based recommendations and mobile check-in directly improve the overall guest experience, correlating with loyalty. The conclusion of the study is that strategic digital investments, improved service quality and active staff engagement, are key to improving customer satisfaction, optimizing occupancy rates, ultimately, driving hotel revenue growth in the post-pandemic era.

Fraudulent investment is a phenomenon that has become widespread among Indonesian society. The PKK mothers in Rt 5 Rw 2, Gayamsari sub-district, have not yet gained any knowledge or understanding about the dangers of fraudulent investments and their characteristics, nor have they received any knowledge or understanding related to financial literacy that could protect their families from the dangers of fraudulent investments. The PKK of Gayamsari sub-district urgently needs socialization on strategies to prevent being affected by fraudulent investments and to recognize the signs of such investments. In addition to fraudulent investments, they also feel the need to receive socialization about financial literacy and the characteristics of legal and safe investments, so that they can prevent becoming victims of fraudulent investments. Based on the problems that occur, solutions are needed to address them. The purpose of this community service activity is to provide understanding and knowledge about financial literacy so as not to fall into fraudulent investments. Partners are also given an understanding of safe and legal investments to avoid the dangers of fraudulent investments. The expected outcome of this service activity for the mothers of the PKK in Gayamsari sub-district is to understand the importance of financial literacy and the dangers of fraudulent investments along with their characteristics. It is hoped that the PKK mothers in Gayamsari sub-district will be wise in managing family finances by choosing safe investments for the future of their household and family, as well as being able to prevent becoming victims of fraudulent investment scams.

This study analyzes the effect of Bitcoin prices, the LQ45 Index, mutual fund net asset value (NAV), and the net profit margin (NPM) of gold mining companies on the price of gold as a safe haven asset within the context of the Indonesian financial market. Gold is often seen as a safe haven asset that is the primary choice of investors when economic uncertainty increases, but the relationship between gold and various other investment instruments still requires further study. This study uses a multiple linear regression method with a robust standard errors approach to analyze 420 monthly and quarterly data observations during the 2018-2022 period. The results of the study found that the price of Bitcoin and the NPM of gold mining companies had a significant positive influence on the price of gold, while the LQ45 Index had a significant influence effect. Meanwhile, the NAV of mutual funds showed a significant positive influence that was not in line with the initial hypothesis. These findings indicate that gold does not always function absolutely as a safe haven asset, as its role is contextual and still influenced by the dynamics of other investment instruments such as digital assets, stock markets, and mutual funds. The study's results make an important contribution to financial literature by proving that the safe haven characteristics of gold are complex and dynamic, so investors need to consider various factors and market conditions before allocating investments to gold as a hedging strategy in their portfolios.

This study aims to estimate changes in the Indonesian Sharia Stock Index (ISSI) from 2020 to 2025 using the Autoregressive Integrated Moving Average (ARIMA) model. The growth of the Islamic stock market in Indonesia has increased rapidly, driven by public awareness of investments that follow sharia principles, as well as changes in macro and microeconomic conditions, especially during the COVID-19 pandemic which has had a significant impact on the financial market. This study relies on monthly ISSI data taken from official sources and analyzed with a quantitative approach using the time series method using EViews version 13 software. Statistical analysis and stationarity tests indicate that the ISSI data exhibits an increasing trend pattern and quite high volatility, so that a differentiation process is necessary to achieve stationarity. Based on the results of model testing and the selection of optimal information criteria, the ARIMA (1,1,1) model was selected as the most appropriate to capture the autocorrelation pattern and produce accurate short-term predictions. Projections indicate a stable growth trend until the end of 2025, with an estimated index of more than 8.3 million. The findings of this study indicate that the ARIMA model is an effective tool for forecasting ISSI movements and can be a strategic consideration for investors, financial institutions, and policymakers in developing sustainable investment strategies in the Indonesian Islamic stock market.

This study aims to describe students' perceptions of the impact of international trade on national development strategies amidst economic globalization. In this context, cross-border trade plays an important role in accelerating economic growth and improving the competitiveness of domestic products. Students' understanding, as part of the generation that will drive the future economy, is crucial to assess the extent to which they perceive the relationship between international trade and national development. This research uses a descriptive quantitative approach with data collection techniques through the distribution of questionnaires to economics students. The findings show that the majority of students have a positive perception of the contribution of international trade, especially in terms of increasing exports, absorbing foreign investments, and creating job opportunities. However, a small proportion of respondents also noted the risks of dependency on global markets, which could affect domestic economic stability. Overall, these findings emphasize the importance of international trade in supporting sustainable and inclusive national development, balancing the benefits of globalization with domestic economic protection.

Investments in information technology (IT) often fail to deliver the expected added value due to excessive dependence on external suppliers, inflexible technological systems, or infrastructures that are highly vulnerable to various operational and security risks. This article analyzes organizational strategies to ensure the realization of added value from IT investments through the integration of strategic alignment and comprehensive risk management practices. By implementing strategic alignment, organizations are able to synchronize IT initiatives with core business objectives, organizational processes, and long-term strategic goals. At the same time, effective risk management plays a crucial role in reducing detrimental dependencies, including risks related to data breaches, system failures, cyber threats, and operational disruptions. This approach is supported by an extensive review of literature from credible and relevant academic sources, which demonstrates that systematic risk mitigation can significantly enhance organizational resilience, reliability, and overall value creation from IT investments. As a result, organizations are better positioned to optimize performance, improve decision-making capabilities, and ultimately achieve a sustainable competitive advantage in an increasingly digital business environment.

This study explores how resource-constrained small and medium-sized enterprises (SMEs) in Indonesia’s advertising sector adapt digital transformation strategies to achieve sustainable development. Using the case of Roxy Maharewa, an SME in Makassar–Gowa, the research examines strategic trade-offs between investing in advanced digital platforms and operationally transformative physical assets. Guided by the Resource-Based View, Strategic Trade-off Theory, and Contingency Theory, this qualitative case study employs semi-structured interviews with key decision-makers. Findings reveal that prioritizing high-capacity production equipment eliminated structural cost disadvantages from outsourced printing, enabling twice to fourth times potential profit margin gains and strengthening market competitiveness. Rather than adopting a fully digital-first approach, the firm employed a hybrid strategy leveraging low-cost digital tools for internal efficiency while maintaining offline relationship management to align with client preferences and infrastructural realities. This asset-led hybrid model demonstrates how SMEs in emerging markets can integrate selective digital adoption with tangible investments to achieve both rapid returns and long-term sustainability. The paper contributes to the discourse on digital transformation by providing a context-sensitive perspective for policymakers and practitioners, emphasizing that in heterogeneous digital readiness environments, blended strategies can deliver superior economic and social.

This study aims to analyze cryptocurrency investments and the risks faced by beginner investors who own digital assets such as Bitcoin, Solana, XRP, and other coins that have been increasing in value over the past few years, especially among the general public and retail investors. Not only retail investors, but governments also now hold digital assets, as has already happened. However, the unstable price and lack of global legal oversight make investing in cryptocurrency highly risky, especially for those with less knowledge and experience. The methods used in this study include literature review, descriptive analysis of historical price data for cryptocurrency, case studies, and interviews with several beginner investors. The findings show that cryptocurrency can generate large profits in a short time, but the risk of losing capital is also very high. Therefore, having a good understanding of blockchain technology, risk management, and investment psychology before starting to invest is important. This study is hoped to serve as a reference for beginner investors when considering decisions to invest in cryptocurrency.

Indonesia faces significant challenges in achieving sustainable development, particularly due to the negative environmental impacts of rapid economic growth, such as deforestation, air and water pollution, and the increase in greenhouse gas emissions. Green Bonds have great potential as a financial instrument to promote sustainable development in Indonesia. Indonesia is actively working to develop the market through key policies such as the Financial Services Authority Regulation (POJK) No. 51/POJK.03/2017, which regulates the issuance and offering of sustainable bonds, thus enhancing the suitability of green bonds to finance environmentally friendly projects. The research method used in this study is a normative legal approach with a focus on laws and regulations (UU) and a library research method. Through this approach, the study analyzes relevant regulations and existing literature to explore the potential and challenges Indonesia faces in implementing green bonds, particularly in the infrastructure investment sector. The implementation of green bond investments in Indonesia, especially in the infrastructure sector, is a strategic step in line with efforts to achieve sustainable development. To achieve this, Indonesia must also consider integrating green bonds into broader development policies. This includes developing strategies that combine economic, social, and environmental aspects in the planning and implementation of infrastructure projects.

The main problem faced by MA Al Ulya Al Mubarok is the low level of financial literacy and the lack of understanding of the importance of early investment. Most students still perceive saving as the only form of financial management without recognizing the potential for asset growth through safe and well-planned investments. The absence of practical education on personal financial management and limited access to learning resources about investment are the main barriers to developing intelligent and future-oriented financial behavior. As a solution, this community service program is designed to improve financial literacy and foster investment intention among students. The program will be implemented through several stages of activities, including: needs and baseline analysis of students, development of a contextual-based financial literacy module, interactive socialization and training on the basic concepts of saving, personal financial management, and introduction to investment. The expected outcomes of this program include: an increase in students’ financial literacy level by at least 30% based on pre-test and post-test results, the initiation of a student investment awareness community, and the creation of a financial literacy learning module that can be used sustainably by the school. This community service program is expected to serve as a model for financial literacy development in secondary education institutions while supporting national efforts to build a financially literate, independent, and future-oriented young generation.

This study aims to analyze investment efficiency in Bandung Regency from 2011 to 2024 and project it for the years 2025 to 2030. Investment efficiency is measured using the Incremental Capital-Output Ratio (ICOR) based on data from Gross Regional Domestic Product (PDRB) and Gross Fixed Capital Formation (PMTB) at constant 2010 prices. Forecasting is performed using the Autoregressive Integrated Moving Average (ARIMA) model. The analysis results show fluctuating ICOR values, reflecting annual variations in investment efficiency. Projections for 2025–2030 indicate a potential decline in efficiency, which signals important considerations for regional development planning. The findings highlight the need for the Investment and Integrated One-Stop Service Office (DPMPTSP) to use ICOR as a key performance indicator when formulating more effective and efficient investment policies to support quality economic growth in Bandung Regency. This study recommends improving future investment policies by utilizing the ICOR indicator to monitor and evaluate the effectiveness of regional investments.

The efficiency of investment decisions is one of the core axes in the success of organizations and the sustainability of their business, especially in light of the dynamic and complex business environment. In this context, the integrated role of both accounting and financial management systems is highlighted, as the harmony between them is a key pillar in providing accurate, real-time, and analytical data that supports the investment decision maker and reduces the degree of uncertainty and risks associated with investments. This research aims to analyze the impact of the integration between accounting systems and financial management on the quality and efficiency of investment decisions within institutions, with a focus on the nature of the causal relationship between the two variables. A conceptual model has been built that illustrates the interaction between the financial information generated by the accounting system and the analytical tools provided by the financial department, which contributes to raising the efficiency of strategic decisions related to investment. To achieve the objectives of the study, a descriptive-analytical approach supported by a standard analysis using a simple linear regression model was adopted on field data extracted from an intentional sample of financial officials in the banking and investment sector. The results showed that there is a statistically significant positive effect of the integration of accounting and financial management systems in enhancing the efficiency of investment decisions, as the model showed that integration contributes more than 50% to the explanation of changes in the quality of investment decisions. The study reached a number of important findings, the most prominent of which is that the lack of integration or poor coordination between accounting and financial management leads to delays in decisions or making them based on incomplete or contradictory information. Effective integration enables organizations to allocate resources more efficiently and evaluate investment alternatives in a thoughtful manner. The study concluded with a set of recommendations, most notably the need to develop the digital infrastructure of accounting and financial systems, adopt a unified system for data exchange, enhance the culture of teamwork between accounting and financial management units, in addition to activating the use of predictive financial analysis techniques to raise the level of accuracy in investment decisions.

This study explores the significant role of digital infrastructure investments in driving both economic growth and social inclusion in emerging economies. With the rapid advancements in digital technologies such as broadband, mobile subscriptions, and ICT infrastructure, these investments are reshaping economies by fostering innovation, improving business efficiency, and reducing poverty. The research employs a quantitative cross-country panel data approach, examining the impact of digital infrastructure across various regions over a ten-year period. The findings reveal a strong positive correlation between digital infrastructure investments and GDP growth, highlighting the substantial effect these investments have on national economic performance. Additionally, the study demonstrates that digital infrastructure plays a pivotal role in enhancing social inclusion, particularly through improved access to financial services, education, and healthcare, which in turn reduces income inequalities and promotes social mobility. The paper also compares the impact of digital infrastructure with that of traditional investments in physical infrastructure, such as transportation, revealing that digital infrastructure offers higher returns in terms of both economic outcomes and social benefits. This research emphasizes the importance of policy interventions, including targeted subsidies and inclusive digital policies, to foster equitable growth. Finally, it proposes several directions for future research, including sector-specific impacts of digital infrastructure, regional disparities, and the long-term effects on social well-being.

This study investigates the determinants of cash holdings in energy sector companies listed on the Indonesia Stock Exchange (IDX) during the period 2018–2022. Cash holdings play a crucial role in ensuring company liquidity and financial flexibility, especially in industries that require large investments such as the energy sector. The study employs secondary data obtained from annual financial reports of the sampled companies, accessed through official company websites and the IDX portal. A quantitative research approach is used with multiple linear regression analysis to test the effect of several independent variables on cash holdings. The variables examined include firm size, leverage, growth opportunity, profitability, net working capital, capital expenditure, and cash flow. The findings reveal that firm size and leverage both have a negative and significant effect on cash holdings, indicating that larger firms and those with higher debt levels tend to maintain lower levels of cash. Net working capital and capital expenditure are also found to negatively affect cash holdings, suggesting that higher investments in working capital and assets reduce the need for holding large cash reserves. Conversely, cash flow demonstrates a positive effect, highlighting that firms with stronger cash inflows are likely to hold more cash. Growth opportunity and profitability show no significant effect on cash holdings.

The purpose of this research is to analyze the effect of investment and firm growth on the improvement of firm value, with profitability serving as a mediating factor. This study employs a quantitative research design using secondary data obtained from the Indonesia Stock Exchange (IDX). The population includes infrastructure sector companies listed on the IDX from 2021 to 2023, and purposive sampling was applied to select 29 companies, yielding a total of 87 firm-year observations. Path analysis with SPSS software was used to test the hypotheses and examine both direct and indirect relationships among the variables. The findings reveal that investment has a significant positive impact on firm value, indicating that firms with higher levels of investment tend to enhance their market valuation. Similarly, firm growth contributes positively to firm value, suggesting that sustainable expansion fosters greater investor confidence. Moreover, profitability is proven to mediate the relationship between investment and firm value, showing that the benefits of investment are maximized when they lead to improved profitability. Profitability also significantly mediates the relationship between firm growth and firm value, underscoring its role as a key driver in translating growth strategies into shareholder value. These results highlight the importance of profitability as a strategic element in strengthening firm value. Practically, the study suggests that managers should prioritize profitable investments and sustainable growth strategies to maximize firm value, while investors may consider profitability as a central indicator when evaluating firm performance.

In a global economic situation full of uncertainty, gold is one of the most popular investment instruments because it is considered stable and has a high intrinsic value. PT Antam Tbk UBPP Precious Metals is one of the precious metal providers trusted by the public. However, purchasing decisions are not only influenced by product quality, but also by price and customer trust factors. This study aims to determine the effect of price and customer trust on purchasing decisions for precious metals at PT Antam Tbk UBPP Precious Metals. This study uses quantitative statistical methods with data collection techniques through questionnaires to 110 respondents selected using purposive sampling techniques, namely respondents who have purchased gold at PT Antam Tbk directly or online. Data analysis was carried out by validity test, reliability test, classical assumption test, multiple linear regression test, hypothesis testing and coefficient of determination test using SPSS version 25. This research was conducted from April-June 2025. The results showed that the price partially had a positive and significant effect on purchasing decisions (3,728>1,982). customer trust also partially had a positive and significant effect on purchasing decisions (6,591>1,982) and price and customer trust simultaneously had a positive and significant effect on the decision to purchase precious metals at PT Antam Tbk UBPP Precious Metals (69,693>3,08).

This study investigates the influence of economic growth, investment, and minimum wage on the open unemployment rate across districts and cities in East Kalimantan Province. The research employs a quantitative descriptive approach with panel data regression analysis, processed using EViews 13 software. Model selection was carried out through the Chow and Hausman tests, which identified the Fixed Effect Model (FEM) as the most appropriate estimation technique. The study utilizes secondary data from 2018 to 2024, obtained from the Central Bureau of Statistics (BPS) and the Investment and One-Stop Integrated Service Office of East Kalimantan Province. The empirical findings demonstrate that economic growth exerts a negative and statistically significant impact on the open unemployment rate, indicating that higher economic growth effectively contributes to reducing unemployment in the region. Foreign Investment (PMA) is found to have a negative but insignificant effect, suggesting that inflows of foreign capital alone do not directly translate into job creation unless accompanied by supporting policies and local labor absorption capacity. In contrast, Domestic Investment (PMDN) shows a positive yet statistically insignificant relationship with unemployment, reflecting the possibility that domestic investments may not always generate sufficient employment opportunities in the short term due to structural constraints or sectoral imbalances. Furthermore, the minimum wage variable has a negative and significant effect on the open unemployment rate, implying that increases in the regional minimum wage can stimulate greater employment absorption and improve labor market conditions. Overall, the results highlight the importance of fostering sustained economic growth and designing investment policies that are more labor-intensive to optimize employment creation. Additionally, the findings emphasize the strategic role of minimum wage policy in supporting job opportunities while safeguarding workers’ welfare.

The Dividend Payout Ratio (DPR) changes in food and beverage companies listed on the Indonesia Stock Exchange between 2019 and 2023, which reflect shifts in dividend policy, are what spurred this study.  Dividend policy is important since it helps to win over investors.  Nonetheless, management frequently has to decide whether to pay dividends or keep profits for investments.  Finding out how management ownership, profitability, leverage, and business size affect dividend policy in food and beverage companies listed on the Indonesia Stock Exchange is the aim of this study. This study is classified as a quantitative causality study.  50 food and beverage firms made up the sample, which was selected using a purposive sampling technique.  The SPSS version 25 multiple linear regression software was used to examine these data.  This study demonstrates that the dividend policy of companies in the food and beverage sector listed on the Indonesia Stock Exchange is influenced, in part, by management ownership, profitability, leverage, and company size.  Conversely, the dividend policy of companies in the food and beverage sector listed on the Indonesia Stock Exchange is influenced by management ownership, profitability, leverage, and company size.

This study aims to analyze the influence of derivative skills and literacy in economic mathematics on investment decisions of students in the Management Study Program. The study was conducted using a quantitative approach using primary data collected through questionnaires distributed to students. The collected data were then analyzed using multiple regression tests to determine the extent to which the studied variables influence investment decisions. The results of the multiple regression test indicate that derivative skills and economic mathematics literacy simultaneously have a significant influence on students' investment decisions. The coefficient of determination (R²) value is 0.551, which means that 55.1% of the variability in investment decisions can be explained by these two independent variables, while the remaining 44.9% is explained by other factors not examined in this study. This figure indicates that students' ability to understand and use economic mathematics concepts, especially in terms of derivatives, as well as their financial literacy, play an important role in forming rational and informed investment decisions. The results of this study indicate that mastery of economic mathematics concepts, especially derivative skills, has a direct impact on students' ability to make better and more logical investment decisions. On the other hand, financial literacy also influences how students assess and manage investments, resulting in wiser decisions. Therefore, it is important for educational institutions to integrate mathematical economics and financial literacy into their curricula to help students make more rational investment decisions and reduce potential future financial risks. Furthermore, this study also suggests the need to improve students' understanding of basic concepts in mathematical economics and financial literacy. Management study programs can strengthen their curricula by providing more in-depth training in the applications of mathematical economics, such as the use of derivatives in investment analysis.

This study empirically investigates the impact of information quality, system quality, and service quality on net benefits in cooperatives located in Badung Regency, specifically in Mengwi District. A quantitative research approach was employed, with non-probability sampling and purposive sampling as the chosen techniques. A total of 150 respondents, including cooperative managers and staff, participated in this study. Data analysis was performed using Structural Equation Modeling with Partial Least Squares (SEM-PLS) through SmartPLS 4.0 software. The study found that information quality significantly influences net benefits through system use and user satisfaction. High-quality information is critical for effective system use and leads to greater user satisfaction, which ultimately contributes to higher net benefits for the cooperatives. Similarly, system quality was also found to significantly affect net benefits, with the use of high-quality systems increasing system use and improving user satisfaction, further enhancing the net benefits received by the cooperatives. However, service quality did not show a significant direct impact on net benefits, nor did it have any significant effect through the mediating variables of system use and user satisfaction. This finding suggests that while service quality is important in many contexts, in the case of cooperatives in this study, the quality of the information and the system itself play a more prominent role in determining the net benefits. The results of this study emphasize the importance of focusing on improving information and system quality to maximize the net benefits in cooperatives. Cooperatives should prioritize investments in information technology systems and ensure that the information provided is accurate and relevant to enhance system use and user satisfaction. This, in turn, will lead to greater overall benefits for the cooperatives in Mengwi District, Badung Regency.