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This study analyzes the impact of the implementation of the Complete Systematic Land Registration (PTSL) Program on the property investment sector in Medan City. The PTSL program aims to provide legal certainty over land ownership rights, which leads to an increase in property value and attracts investors. This research employs a qualitative approach through direct observation during an internship at the Medan City Land Office. The findings indicate that PTSL positively contributes to the growth of property investments by enhancing legal certainty, improving bureaucratic efficiency, and increasing regional tax revenues. However, challenges such as low public awareness and limited human resources remain. Therefore, more intensive public outreach and improved staff competence are necessary to optimize the program’s implementation.

The integration of metaverse technology in employee training has the potential to significantly enhance digital skills, collaboration, and overall learning outcomes in virtual workspaces. This study explores the effectiveness of metaverse-based training compared to traditional methods, focusing on participant engagement, learning retention, and practical application in immersive virtual environments. The results indicate that metaverse technology leads to increased participant engagement, offering real-time communication, interactive simulations, and realistic task scenarios that foster deeper involvement and better skill acquisition. Additionally, the immersive nature of metaverse platforms improves learning effectiveness, especially for high-risk tasks such as medical procedures and technical skills that benefit from hands-on experience. However, challenges such as technological barriers, infrastructure limitations, and initial resistance from employees were identified, requiring organizations to provide adequate support and training for smooth adoption. While the upfront costs of developing and maintaining metaverse training platforms are significant, the long-term benefits—such as scalability, reduced need for physical resources, and enhanced training outcomes—outweigh these initial investments. Organizations looking to implement metaverse-based training solutions should carefully consider the required technological infrastructure, support for employees, and privacy concerns. Future research should explore advancements in metaverse technology, including AI integration, and investigate the broader adoption of these technologies across various industries, focusing on overcoming adoption barriers and measuring their long-term impact on workforce development.

This study aims to examine the impact of financial institutions' involvement on financial sophistication and consumer spending through a literature review. Various relevant studies indicate that financial institutions' involvement through financial education, innovative financial products, and financial literacy can enhance consumers' understanding in making smarter financial decisions. These positive impacts include better spending management and the shift from consumptive spending to long-term investments. However, the success of this involvement is influenced by social, economic, and psychological factors that affect the adoption and effectiveness of financial programs. This study concludes that financial institutions play a crucial role in increasing financial sophistication, but external factors need to be considered for optimal results.

Investment-linked insurance, otherwise known as unit-linked insurance, offer attractive potential benefits because in addition to providing life protection, they also offer investments for policyholders. However, it also involves the construction of complex legal relationships between policyholders and insurance companies. The purpose of this study is to determine and analyze the construction of legal relationships in insurance schemes linked to investment. This research uses normative legal research methods through data collection techniques in the form of literature studies. The approach used is the statute approach. The results show that the unit-linked insurance agreement scheme involves at least two key elements, namely policyholders and insurance companies. Policyholders can choose to invest their funds in financial instruments managed by investment managers. The legal relationship between the parties is based on an insurance contract known as a policy. The insurance policy regulates the rights and obligations of each party. Premiums paid by policyholders are allocated to the basic premium for insurance protection and investment premiums. Meanwhile, the insurance company provides a return on the premium in the form of life protection and investment management.

This systematic literature review evaluates the existing research on capital structure and financing decisions within the property and real estate sector of Southeast Asia (ASEAN). Despite the sector's dynamic growth and substantial investments, the financial strategies specific to ASEAN remain minimally explored. A methodical review of scholarly articles from ScienceDirect, and Google Scholar spanning from 2000 to 2023. Our analysis identified prevalent themes and trends, notably the application of traditional capital structure theories such as pecking order and trade-off theories to more developed markets. However, the review highlights a significant gap in empirical research focusing on the unique economic, regulatory, and market conditions in ASEAN that crucially impact capital structure and financing choices in the region's property sector. The findings emphasize the need for more targeted empirical studies that account for the socio-economic diversity and specific institutional frameworks of ASEAN countries. These studies aim to enhance understanding of the financing behaviors in their property and real estate markets, thus aiding policymakers and investors in crafting informed strategies and policies.  

The potential for sustainable tourism development in Rancabali Tea Plantation is analyzed from the aspects of social, economic, and environmental impacts. The study reveals that the development of sustainable tourism in Rancabali Tea Plantation can have significant positive impacts on the local community, economy, and environment. Socially, it can create new job opportunities, increase local income, and enrich the local culture. Economically, it can increase the local government's revenue through tourism taxes and the sale of local products, and diversify the local economy through investments in tourism infrastructure. Environmentally, it can promote eco-friendly practices, such as the use of renewable energy, efficient waste management, and the conservation of natural resources. The study concludes that the development of sustainable tourism in Rancabali Tea Plantation has the potential to benefit the local community, economy, and environment, and emphasizes the importance of considering all these aspects in the development of tourism to ensure its long-term success.

The growth of sharia insurance from 2019-2022 shows that sharia insurance is still developing in society. However, there will be a decline in 2022 in general insurance and reinsurance on investments and assets which have an important role in running a sharia insurance company. The aim of this research is to determine the level of efficiency of sharia insurance companies in Indonesia for the 2019-2022 period using the DEA method. This research was carried out using quantitative methods where the emphasis is more on data processing, proving hypotheses and using statistical tools to make it easier for researchers to manage data. The data used in this research is Time Series, namely data that has a time series of more than one year on one object or data collected over time on individuals or objects.

This study analyzes the transformation of economic education towards educational investment as a means of strengthening human resources (HR) through a bibliometric approach. By utilizing Scopus basic data and the VOSviewer analysis tool, the study examines the trends in publications over the past ten years, focusing on key areas such as educational economics, educational investment, and HR development. The findings highlight that innovations in educational economics, including the integration of digital technology, project-based learning, and collaborations between educational institutions, government, and industry, are crucial in enhancing the effectiveness of educational investments. Additionally, the study reveals that the proper allocation of educational funds for infrastructure development, improving teaching quality, and implementing skills-based training programs significantly contributes to increasing workforce competitiveness and promoting sustainable economic growth. The research emphasizes that educational investment strategies must be aligned with the needs of industry and global challenges to foster adaptive and innovative human resources. Moreover, it stresses the importance of designing educational policies that are comprehensive, addressing the aspirations of individuals and the relevance of education to the labor market. Ultimately, the study offers valuable academic insights and practical recommendations for policymakers, educational institutions, and other stakeholders. It also provides guidance for developing effective strategies that optimize educational investment and support the cultivation of superior HR capable of driving future economic progress.

This article examines the dynamics, challenges, and opportunities in implementing the merit system policy within the context of Indonesia’s bureaucratic reform, employing a narrative literature review approach using a triangulation of scholarly sources. Thematic analysis identifies five critical themes that hinder the implementation of the merit system: structural tensions between political patronage and meritocracy that create a hybrid spoils–merit system; significant institutional capacity gaps between central and local governments; digital transformation through platforms such as CAT, SmartASN, and SIPINTER as catalysts for transparency and objectivity; organizational cultural resistance rooted in patrimonial and seniority values; and the weakening of independent oversight exacerbated by the dissolution of KASN’s mandate. Although a progressive regulatory framework has been established through Law No. 5 of 2014, the implementation of the merit system remains constrained by persistent clientelism, limited institutional capacity, and cultural resistance. This study contributes to the theoretical discourse on Weberian bureaucracy, New Public Management, and good governance by confirming that the implementation of the merit system in developing countries constitutes a political–cultural transformation that requires fundamental changes in political incentive structures, institutional capacity, and organisational values. Managerial implications include strengthening independent oversight, making substantial investments in institutional capacity, accelerating inclusive digital transformation, and implementing systematic change management programs to expedite the transition toward a performance-based bureaucracy that is professional and integrity-driven in support of Indonesia’s Golden Vision 2045

Applying ergonomic principles in work tool design for manufacturing industries is a crucial factor in improving productivity while maintaining worker health. This research aims to analyze the effectiveness of adaptive work tool design models based on cognitive and physiological ergonomic principles, identify interaction patterns between workstation design and operational performance, and develop a conceptual framework for integrating ergonomic principles into production cycles. The research method adopts a cognitive-physiological approach with qualitative analysis of human-machine interactions, biomechanical simulations using digital human modeling, and muscle load measurements through electromyography. Implementation was conducted using a participatory ergonomics approach and IMU sensor-based real-time monitoring systems. Results show that using materials with controlled deformation capabilities (15-20%) in work tools reduces muscle work by up to 27%, while adaptive automation system integration improves assembly accuracy by 18%. Workstations with ergonomic adjustments increase assembly speed by an average of 12%, and low-cost ergonomic interventions effectively improve productivity by 11-15% in resource-limited environments. Longitudinal analysis reveals that evidence-based ergonomic investments yield a 230% ROI through increased productivity, reduced injury compensation costs, and decreased employee turnover. IMU-based posture monitoring systems integrated with adaptive feedback loops reduced musculoskeletal disorder incidents by up to 41%. In conclusion, ergonomic optimization based on cognitive-physiological principles creates synergy between production efficiency and worker well-being, making it an essential component in achieving sustainable productivity.

The shift towards sustainable development has become a central concern in global economic strategies. This paper assesses the role of green investment in fostering economic growth while ensuring environmental sustainability in developing economies. By analyzing investments in renewable energy, sustainable agriculture, and eco-friendly technologies, the study evaluates the potential for green investments to stimulate job creation, enhance economic resilience, and reduce environmental degradation. The paper also explores policy frameworks that could incentivize green investments and support the transition to a low-carbon economy.

Financing can be interpreted as funding provided by one party to another party. Its function is to support investments that will or have been planned by the institution. Financing can also be interpreted as trust or trust. It means that the financing institution as sahib al-mal puts trust in someone to carry out the mandate given. All such costs must be used properly, fairly, and must be accompanied by clear terms and are responsible for all parties. Every Islamic financial institution has a philosophy of seeking the pleasure of Allah SWT. to acquire the virtues of the world and the hereafter. Therefore, any activities of financial institutions that are considered deviant from religious demands should be avoided. In the implementation of financing, Islamic banks must meet two most important aspects. First, the Shar'i aspect where in every realization of financing to customers must remain guided by Islamic Shari'a. Second, the economic aspect which still considers the profit generation for Islamic banks and for customers.

Sumi Lala.202010325238. Portofolio Construction On The Indonesia Stock Exchange (BEI) Using The Markowitz method (Empirical Study Of Kompas 100 period December 2014 – September 2023). Investment development is currently very rapid. Ownership of 2 or more items can called a portofolio.Investments will experience increases and decreases in the portofolio. This research aims to understand the level of  return of portofolios formed through Markowitz and also a comparison between portfolios returm with market capitalization and weighting. The shares in the portfolio are shares listed on the Kompas 100 Index. This research uses end of month data for the period December 2014 to September 2023.The results of this research found that 61 shares included in the portolio did not have a negative weight.the next result of this research is that the market rate of return portolio (IHSG) Significantly influences the rate of return of the portfolio that has been formed based on market capitalization significantly 1% Other macro variables US Dollar exchange rate.Interest rates and oil prices do not significantly affect the rate of return portfolios formed based on Market Capitalization.

This research discusses the readiness of Tanjungpinang city in developing a smart city. The objective is to understand and describe the preparations made by Tanjungpinang city in developing a smart city and to identify inhibiting factors influencing the implementation of a smart city in Tanjungpinang. A qualitative descriptive methodology was employed, utilizing data collection techniques such as interviews with the City Planning and Development Agency (BAPELITBANG) of Tanjungpinang, observations, and secondary document analysis to reinforce research data. Data analysis was conducted using descriptive and thematic analysis techniques. The research used 10 criteria for the readiness of developing countries in implementing a smart city to measure the obstacles faced by Tanjungpinang in becoming a smart city. The results indicate that Tanjungpinang has prepared itself to become a Smart City through various efforts but still faces significant obstacles. Critical obstacles include technological illiteracy, a lack of skilled human resources in IT, suboptimal technological infrastructure, insufficient basic infrastructure, and adequate financial support. Solutions require strategic steps, close collaboration, and a holistic approach. Education and training are necessary to address technological illiteracy, investments in IT human resources, optimization of technological infrastructure, improvement of basic infrastructure, and the search for sustainable financing models. By overcoming these obstacles, Tanjungpinang can realize effective smart city solutions, improve the quality of life for its citizens, and achieve sustainable development goals.

The development of Islamic economics with the application of sharia principles in economic activities is starting to be practiced in the field of sharia finance. This started with the establishment of sharia banking, then followed by the emergence of the sharia capital market as an investment tool to attract profits and seek capital. The Jakarta Islamic Index (JII) as the antithesis of the conventional capital market has challenges when carrying out investments using sharia principles, this is because securities in the form of shares are greatly influenced by macroeconomic aspects such as interest rates. So sharia share prices are very sensitive to the dynamics of interest rates. This research seeks to see the extent of the influence of interest rates on sharia sham prices at JII. The method used is VECM analysis to see long-term effects. The results of this research found that the interest rate variable did not significantly influence sharia stock prices in the long term, however the results of the VECM analysis found that there was a negative relationship, meaning that there was still an influence, although not significant. So sharia share prices can still be affected by changes in conventional interest rates.

Environmental degradation and poverty remain pressing challenges in Indonesia, exacerbated by rapid economic growth and resource exploitation. The increasing demand for sustainable development has highlighted the need for alternative financial models that integrate both economic growth and environmental protection. Sharia-based green investments have emerged as a promising solution, offering a framework that aligns ethical considerations with sustainability goals. This study examines the impact of Sharia-based green investments on social welfare and environmental sustainability in Indonesia, with a focus on reducing income inequality and fostering community development. Using a mixed-method approach, including quantitative analysis of secondary data on green investment performance and qualitative interviews with key stakeholders, the research evaluates how these investments contribute to enhancing income equality, providing access to renewable energy, and promoting sustainable economic activities. Findings show that Sharia-based green investments not only improve income distribution, especially in rural areas and small businesses, but also contribute to environmental sustainability through renewable energy projects and eco-friendly infrastructure. The study also compares the environmental benefits of Sharia-based investments with conventional models, emphasizing their superior alignment with long-term sustainability goals. The research underscores the potential of Sharia-based green investments as a model for inclusive economic growth and environmental protection, supporting Indonesia’s progress toward achieving the Sustainable Development Goals (SDGs).

This study aims to analyze the impact of equity volatility and leverage on investment risk, focusing on the relationship between debt overhang and equity option value. Through a qualitative literature review, this research reveals that equity volatility plays a role in reducing companies' incentives to invest, especially amid market uncertainty. Meanwhile, high leverage can worsen a company's inability to invest due to the heavy debt burden. The phenomenon of debt overhang causes companies to be reluctant to invest because the benefits generated from such investments are primarily enjoyed by creditors. This study provides valuable insights into the interaction between equity volatility, leverage, and debt overhang in corporate investment decision-making, as well as the importance of effective financial risk management.

This study aims to determine the mapping of research around optimal portfolios in wealth management on stock investment with a mix-method approach, namely VOSviewer bibliometric studies and literature reviews. “Data analysis techniques include: (1) mapping the number of journal publications spread around the Optimal Portfolio using Microsoft Excel and Mendeley Desktop by year of publication; (2) mapping the results of bibliometric network visualization and journal publication trends around the Optimal Portfolio using VOSviewer (Visualization of Similarities) algorithm software based on the number of clusters and their items; and (3) map research topics around the Optimal Portfolio using literature studies. The results showed that: (1) based on mapping the number of journal publications, there were 500 journal publications around the optimal portfolio; (2) based on the mapping of VOSviewer bibliometric studies The results of network visualization around the optimal portfolio are divided into 6 clusters and 163 topic items; (3) Based on the mapping of literature review studies, there are 2 topics around optimal portfolios that often appear first optimal and second stocks. The implication and contribution of this study is to map research topics around optimal portfolios in stock investments that are often or rarely researched by researchers, so that they can be a reference for researchers afterwards”.

This research aims to investigate the relationship between savings and investment theory in the concept of economic growth. Savings and investment theory are two main elements in macroeconomi analysis that play an important role in determining the level of economic growth of a country. This research explores the impact of the interaction between savings and investment levels on economie growth. In both conventional and Islamic economic contexts, savings and investments are importan inancial instruments in managing personal finances, supporting economic growth, and achieving the inancial goals of individuals and society as a whole. However, in Islamic economics, both must comply with Sharia principles to create economic justice and religious obedience. reserves of funds that can be used for future consumption or investment. Meanwhile, in Islamic economics, sharia-based savings must comply with sharia principles which prohibit usury and transactions involving haram elements. The goals of savings in Islam include sharia compliance, financial security, and distribution of wealth to the needy.

Brokerage companies have long developed in Indonesia, but this development has not been accompanied by a good image. The image of brokers in Indonesia seems bad in society so that Indonesian brokerage companies experience losses in reputation and customer trust, which will ultimately affect the business performance of brokerage companies. This phenomenon was also experienced by PT Victory International Future, one of the official brokers and supervised by Bappebti. It is necessary to identify the key factors that influence this bad image. The expected results will outline various marketing strategies that can be used, including communication that focuses on conveying clear information, education on investments and financial instruments, as well as service to clients that prioritizes transparency. Apart from that, it provides strategy options and suggestions for brokerage companies in an effort to improve the company's image and as a real social contribution to developing public knowledge about finance and improving the financial services sector.