Risk Management and Investment
type: channel
description: Risk Management and Investment is a peer-reviewed academic journal that explores the intersection of risk management practices and investment strategies. Published by the Fakultas Bisnis, Institut Bisnis dan Informatika Kesatuan (IBIK) in collabration with the Be Actual Research Institute (BARI), the journal serves as a key platform for research focused on managing risks in the context of financial investments and fostering sustainable investment practices. The journal covers a wide array of topics, including investment risk analysis, portfolio management, asset allocation, financial derivatives, market volatility, corporate governance, behavioral finance, and financial regulation. With a commitment to high-quality scholarship, the journal ensures that all submitted manuscripts undergo a rigorous double-blind peer review process to maintain the integrity of published research. Risk Management and Investment is published biannually, in January–June and July–December. It publishes original research articles, theoretical studies, case analyses, and reviews that contribute to advancing knowledge on how to manage financial risks and improve investment outcomes. The journal's goal is to provide timely insights into both traditional and emerging investment strategies, addressing their risks and benefits in dynamic financial markets. The journal welcomes contributions from researchers, academicians, financial professionals, and policymakers who are exploring innovative approaches to risk management and investment practices. Submissions must adhere to the journal’s submission guidelines, and manuscripts that do not meet these formatting and style requirements will be returned without review. Only those that align with the journal’s academic standards will be considered for peer review and further editorial evaluation. Risk Management and Investment is committed to enhancing the understanding of risk management strategies in investment decision-making. By providing a platform…
publisher: Fakultas Bisnis, Institut Bisnis dan Informatika Kesatuan (IBIK)
language: en
publication name: Risk Management and Investment
items: Portfolio Optimization Under Uncertainty: A Risk- Based Approach
items: Exchange Rate Risk and Its Impact on Cross-Border Investments
items: ESG Risk Integration in Institutional Portfolio Management
items: Cyber Risk Management and Its Impact on Investment Performance
items: Hedging Effectiveness of Financial Derivatives in Corporate Risk Management
items: The Strategic Role of Risk Management in Enhancing Banking Stability and Investor Confidence
items: The Impact of Globalization on Financial Volatility and Risk Management
items: The Evolution of Portfolio Diversification: Modern Strategies in Risk Management and Investment Performance in the Digital Era
items: Understanding the Influence of Financial Literacy and Risk Awareness on Investment Decisions and Economic Growth
items: Financial Literacy, Fintech Adoption, and Youth Investment Behavior in the Digital Era
items: Integration of Modern Investment Strategies and Risk Management in the Digital Finance Era
items: Financial Risk Management in Investment during the Era of Global Economic Uncertainty
items: Digital Transformation and Sustainability in Global Risk Management
items: Integrating Big Data, Cryptocurrency, and ESG in Sustainable Fiscal Policy
items: Integrating Sustainable Finance through ESG Principles in the Modern Financial Sector
items: Transforming Modern Financial Management and Investment through Fintech and ESG Integration
items: Integrating Rationality and Behavioral Factors in Investment Decision-Making Under Global Economic Uncertainty
items: Enhancing Investor Confidence through Internal Audit Transformation and Enterprise Risk Management Maturity
items: The Role of Financial Management and Liquidity Theories in Enhancing Investment Risk Mitigation
items: The Influence of Cognitive Biases on Investor Behavior in Periods of Economic Instability
items: Financial Literacy, Risk Perception, and Risk Tolerance in Investment Decisions in Indonesia
items: The AI Implementation Gap in Business Processes: Marketing Focus Versus Data Threats
items: Technology Optimization in Generation Z Digital Investment in the Society 5.0 Era
items: The Synergy of Risk Management and Corporate Governance on Business Performance and Sustainability
items: Financial Literacy, Financial Behavior, and Risk Tolerance: A Conceptual Review Based on Literature
items: Strengthening Risk Management Principles in the Fintech Ecosystem for MSME Empowerment in the Digital Economy Era
items: FinTech, Financial Inclusion, and Global Financial Stability
items: Financial Literacy and Investment Motivation as Key Drivers Shaping Investment Behavior
items: Firm Value Determinants: Insights from Capital Structure and Financing Decisions
items: The Interaction between Corporate Governance and Ownership Structure on Risk-Taking Behavior

Portfolio Optimization Under Uncertainty: A Risk- Based Approach
type: item
description: Portfolio optimization plays an important role in financial decision making because investors must determine asset allocations that maximize expected return while controlling risk. Traditional portfolio models commonly rely on the mean variance framework, which evaluates the relationship between risk and return to identify efficient portfolios. However, these models often assume deterministic market parameters, while real financial markets are characterized by uncertainty, volatility, and incomplete information. This study investigates portfolio optimization under uncertainty using a risk based perspective through a systematic literature review. The review analyzes peer reviewed studies that discuss optimization methods, uncertainty modeling, and risk measurement in portfolio management. The findings indicate that modern research increasingly integrates robust optimization, stochastic modeling, and alternative risk measures to address uncertainty in financial markets. In addition, multi objective optimization approaches enable investors to evaluate trade offs between return, risk, and diversification simultaneously. Overall, incorporating uncertainty and risk based strategies can enhance portfolio stability and support more reliable investment decisions in dynamic financial environments.
subject: Articles
  topic: section
subject: Asset Allocation
  topic: keywords
subject: Financial Decision Making
  topic: keywords
subject: Portfolio Optimization
  topic: keywords
subject: Risk Management
  topic: keywords
subject: Uncertainty Modeling
  topic: keywords
creator: Fais Maulidiana
rights: Copyright (c) 2025 author(s)
date: 2025-12-30
publication date: 2025-12-30
starting page: 157
ending page: 169

Exchange Rate Risk and Its Impact on Cross-Border Investments
type: item
description: Exchange rate risk has become an important issue in the global financial system due to the increasing integration of international financial markets and the expansion of cross border investment activities. This study aims to examine the relationship between exchange rate volatility, exchange rate risk, and cross-border investment. The study applies a systematic literature review method to identify, evaluate, and synthesize relevant academic studies discussing the impact of currency fluctuations on international investment and corporate decision making. The findings indicate that exchange rate volatility increases uncertainty in international financial markets, which can discourage foreign investors from allocating capital to foreign economies and reduce foreign direct investment inflows. In addition, exchange rate risk also influences corporate investment behavior because firms exposed to currency fluctuations may experience changes in expected cash flows and investment returns. As a result, multinational corporations often implement risk management strategies to mitigate the negative effects of exchange rate instability. Overall, stable exchange rate conditions and effective risk management practices play an essential role in supporting sustainable international investment activities.
subject: Articles
  topic: section
subject: Cross-Border Investment
  topic: keywords
subject: Exchange Rate Risk
  topic: keywords
subject: Exchange Rate Volatility
  topic: keywords
subject: Foreign Direct Investment
  topic: keywords
subject: International Capital Flows
  topic: keywords
creator: Yusuf Muhammad
rights: Copyright (c) 2025 author(s)
date: 2025-12-30
publication date: 2025-12-30
starting page: 143
ending page: 156

ESG Risk Integration in Institutional Portfolio Management
type: item
description: Institutional investors increasingly treat environmental, social, and governance (ESG) issues as financially material risks, yet evidence on whether integration improves portfolio outcomes remains mixed. This study conducts a systematic literature review to synthesize peer-reviewed findings on ESG risk integration in institutional portfolio management, emphasizing measurement, implementation tools, and risk outcomes. Across reviewed studies, results concentrate on downside protection and stress sensitivity: carbon and climate-related exposures are repeatedly linked to tail risk, while governance and stakeholder weaknesses can amplify drawdowns in periods of uncertainty. The synthesis indicates that effects depend strongly on design. Benchmark-aware tilts, optimization constraints, and risk budgeting yield more consistent risk-adjusted outcomes than aggressive exclusions because they reduce unintended sector and factor bets and align with mandate limits. The review also identifies ratings disagreement and disclosure heterogeneity as key drivers of conflicting results, underscoring the need for data governance and methodological transparency. Overall, ESG integration is most effective as channel-specific risk management complemented by targeted stewardship.
subject: Articles
  topic: section
subject: ESG Integration
  topic: keywords
subject: Institutional Investors
  topic: keywords
subject: Portfolio Optimization
  topic: keywords
subject: Risk
  topic: keywords
subject: Stewardship
  topic: keywords
creator: Cicih Mintarsih
rights: Copyright (c) 2025 author(s)
date: 2025-12-30
publication date: 2025-12-30
starting page: 127
ending page: 140

Cyber Risk Management and Its Impact on Investment Performance
type: item
description: Cyber risk is a financially material source of uncertainty that can reshape expected cash flows, downside tail risk, and investor confidence. This systematic literature review asks how cyber risk and cyber risk management influence investment performance, through which mechanisms, and when effects differ by context and measurement. Using peer-reviewed studies published from 2019 to 2024, the review synthesizes evidence across finance, accounting, and information systems. Findings show that cyber risk is reflected not only in breach-driven valuation shocks but also in latent exposure that affects risk premia and tail outcomes such as crash risk. The article discusses results through a mechanism-based lens linking governance and investment discipline, response reliability, disclosure credibility, and contracting spillovers to investment-relevant outcomes. Overall, cyber risk management is most performance-relevant when it lowers expected loss severity, strengthens credible assurance signals, and improves disclosure quality that reduces information asymmetry and ambiguity. Variation is explained by investor attention, industry digital intensity, inter-firm dependence, and proxy choice.
subject: Articles
  topic: section
subject: Assurance
  topic: keywords
subject: Cyber Risk
  topic: keywords
subject: Disclosure
  topic: keywords
subject: Expected Returns
  topic: keywords
subject: Investment Performance
  topic: keywords
creator: Syakira Gavrila Haerus
rights: Copyright (c) 2025 author(s)
date: 2025-12-30
publication date: 2025-12-30
starting page: 112
ending page: 126

Hedging Effectiveness of Financial Derivatives in Corporate Risk Management
type: item
description: This article asks when, how, and under what conditions financial derivatives meaningfully reduce corporate exposure to market risks such as exchange rates, interest rates, and commodity prices, given that derivative use does not automatically imply effective hedging. Using a systematic literature review, the study synthesizes recent peer-reviewed empirical findings on hedging effectiveness across instruments, exposures, and measurement approaches. The reviewed evidence indicates that derivatives are most consistently associated with lower measured risk and greater resilience when exposures are clearly mapped, hedge design aligns maturities and payoffs to the underlying risk, and governance limits speculative drift. Results also show that effectiveness is metric- dependent: market-based indicators may reflect perceived risk reduction, while internal outcomes more often capture cash flow stability, investment continuity, and operational performance. The discussion integrates these findings by explaining how identification strategies, basis risk, hedge accounting, and disclosure transparency shape observed effects and help reconcile divergent results. Overall, the review concludes that hedging effectiveness is conditional and improves with disciplined program design and credible reporting.
subject: Articles
  topic: section
subject: Corporate Risk Management
  topic: keywords
subject: Derivatives
  topic: keywords
subject: Hedge Accounting
  topic: keywords
subject: Hedging Effectiveness
  topic: keywords
subject: Systematic Literature Review
  topic: keywords
creator: Dwi Maulina
rights: Copyright (c) 2025 author(s)
date: 2025-12-30
publication date: 2025-12-30
starting page: 94
ending page: 111

The Strategic Role of Risk Management in Enhancing Banking Stability and Investor Confidence
type: item
description: The banking sector plays a fundamental and strategic role in maintaining macroeconomic stability and attracting investor confidence through the implementation of effective and comprehensive risk management practices. This study aims to review and analyze the relationship between banking risk management, investment efficiency, and investor perception by employing a systematic literature review approach covering the specified research period. The analysis reveals that the implementation of Enterprise Risk Management, supported by strong risk governance frameworks and transparent financial reporting, significantly contributes to improving investor confidence and ensuring the stability of banking investments. Furthermore, the digitalization of the financial sector and the integration of sustainability policies have strengthened risk management systems by enhancing operational efficiency, improving market risk mitigation strategies, and reinforcing credit risk control mechanisms. These developments indicate that risk management in the banking industry is no longer limited to compliance functions but has evolved into a strategic instrument that supports decision-making, competitiveness, and long-term financial resilience. Therefore, the effectiveness of risk management is identified as a key determinant in maintaining investor trust, promoting responsible financial practices, and ensuring the sustainable growth and stability of the global banking sector.
subject: Articles
  topic: section
subject: Banking
  topic: keywords
subject: Financial Stability
  topic: keywords
subject: Investor Confidence
  topic: keywords
subject: Investment
  topic: keywords
subject: Risk Management
  topic: keywords
creator: Taufik Akbar
rights: Copyright (c) 2025 Risk Management and Investment
date: 2025-06-30
publication date: 2025-06-30
starting page: 75
ending page: 93

The Impact of Globalization on Financial Volatility and Risk Management
type: item
description: Globalization and international market integration have accelerated the cross-border flow of capital, trade, and information, thereby enhancing the overall efficiency of the global economy. However, this interconnectedness has also intensified financial market volatility due to the rapid transmission of investor sentiment and global instability. This study aims to analyze the relationship between globalization, market integration, and financial volatility, as well as to examine how investors and portfolio managers respond to the associated risks. The research employs a literature review method, focusing on empirical studies published within the last five years. The findings indicate that market integration amplifies the transmission of financial crises and increases the impact of global fluctuations on domestic economic stability. Furthermore, effective risk management and portfolio diversification emerge as key strategies for mitigating heightened market uncertainty. These results underscore the critical importance of coordinated global economic policies in minimizing the domino effects of international financial crises and sustaining long-term economic resilience.
subject: Articles
  topic: section
subject: Financial Volatility
  topic: keywords
subject: Globalization
  topic: keywords
subject: Investor Behavior
  topic: keywords
subject: Market Integration
  topic: keywords
subject: Risk Management
  topic: keywords
creator: Surya Hararja
rights: Copyright (c) 2025
date: 2025-06-30
publication date: 2025-06-30
starting page: 55
ending page: 74

The Evolution of Portfolio Diversification: Modern Strategies in Risk Management and Investment Performance in the Digital Era
type: item
description: This study aims to analyze the relationship between portfolio diversification, risk management, and investment performance within the evolving context of the modern global economy. Employing a descriptive qualitative approach based on a systematic literature review, this research examines several indexed academic sources from the past five years to provide a comprehensive understanding of the effectiveness of diversification in the digital era. The findings reveal that diversification plays a crucial role in reducing systematic risk and enhancing the stability of investment returns across sectors and asset classes. The integration of technology particularly artificial intelligence and machine learning further strengthens the effectiveness of diversification strategies by improving the accuracy of risk assessment and enabling adaptive portfolio optimization in response to market fluctuations. Moreover, the rise of digital assets such as cryptocurrencies has expanded the global scope of diversification, introducing a new dimension to risk management. These findings confirm that diversification has evolved into an adaptive, dynamic, and sustainable strategy for future investment decision-making.
subject: Articles
  topic: section
subject: Diversification
  topic: keywords
subject: Financial Technology
  topic: keywords
subject: Investment
  topic: keywords
subject: Performance
  topic: keywords
subject: Risk Management
  topic: keywords
creator: Cipi Nurmala
rights: Copyright (c) 2025
date: 2025-06-30
publication date: 2025-06-30
starting page: 37
ending page: 54

Understanding the Influence of Financial Literacy and Risk Awareness on Investment Decisions and Economic Growth
type: item
description: Investment is a crucial element in both the economy and individual financial planning, as it plays a significant role in driving economic growth, creating employment opportunities, and enhancing societal welfare. For individuals, investment serves as a tool to achieve long-term financial goals and protect assets from inflationary pressures. However, every investment carries inherent risks, including potential capital losses due to market fluctuations and uncertain economic conditions. Understanding these risks and maintaining a high level of financial literacy are key determinants of investment success, particularly for novice investors. The capital market, as a platform for trading long-term financial instruments, also plays a pivotal role in connecting surplus and deficit funds within society. This study aims to review the relationships among financial literacy, investment risk, and the capital market in promoting economic growth by synthesizing the latest empirical and conceptual literature. By analyzing contemporary findings, this review highlights the importance of informed decision-making, risk management, and financial education in optimizing investment outcomes and supporting sustainable economic development.
subject: Articles
  topic: section
subject: Capital Market
  topic: keywords
subject: Financial Literacy
  topic: keywords
subject: Economic Growth
  topic: keywords
subject: Investment
  topic: keywords
subject: Risk
  topic: keywords
creator: Unggul Brahmanto
rights: Copyright (c) 2025
date: 2025-06-30
publication date: 2025-06-30
starting page: 19
ending page: 36

Financial Literacy, Fintech Adoption, and Youth Investment Behavior in the Digital Era
type: item
description: This study aims to analyze the interrelationship between financial literacy, fintech adoption, and youth investment behavior in a global context. Using a narrative study approach, this research integrates empirical findings from various Google Scholar–indexed publications published over the past five years. The analysis reveals that strong financial literacy plays a crucial role in shaping rational, measured, and sustainable investment behavior amid the dynamics of the digital economy. Meanwhile, fintech adoption expands access to diverse digital financial instruments and promotes financial inclusion but also introduces new challenges such as privacy risks, data security issues, and digital inequality across social groups. Technology-based financial education emerges as a strategic factor in developing a generation of financially intelligent, digitally critical, and economically responsible youth. The study concludes that synergy between financial literacy, technological innovation, and public policy is essential to strengthen an inclusive, adaptive, and sustainable digital financial ecosystem that supports the development of a resilient and informed young investor community for the future.
subject: Articles
  topic: section
subject: Fintech Adoption
  topic: keywords
subject: Financial Digitalization
  topic: keywords
subject: Financial Literacy
  topic: keywords
subject: Investment Behavior
  topic: keywords
subject: Youth Generation
  topic: keywords
creator: Erlinda Wemona
rights: Copyright (c) 2025
date: 2025-06-30
publication date: 2025-06-30
starting page: 1
ending page: 18

Integration of Modern Investment Strategies and Risk Management in the Digital Finance Era
type: item
description: This study aims to analyze the development of modern investment strategies and the implementation of integrated risk management within the context of the digital economy. Using a literature review approach based on scholarly works from the past five years, this research reveals that the application of artificial intelligence, machine learning, and big data analytics has revolutionized the paradigm of investment management from conventional systems into intelligent technology-based models. On the other hand, the implementation of integrated risk management plays a crucial role in maintaining portfolio stability and resilience amid increasingly complex global market volatility. The integration of data-driven strategies, environmental, social, and governance principles, and an understanding of investor behavior results in a more efficient, adaptive, and long-term–oriented investment system. The findings affirm that the success of modern investments is determined not only by technological innovation but also by disciplined risk governance, transparent information management, and a strong commitment to sustainability and socio-economic responsibility in the digital finance era.
subject: Articles
  topic: section
subject: Adaptability
  topic: keywords
subject: ESG
  topic: keywords
subject: Fintech
  topic: keywords
subject: Modern Investment
  topic: keywords
subject: Risk Management
  topic: keywords
creator: Maudys Pratyas Hakim
rights: Copyright (c) 2024
date: 2024-12-30
publication date: 2024-12-30
starting page: 168
ending page: 186

Financial Risk Management in Investment during the Era of Global Economic Uncertainty
type: item
description: This study aims to analyze the role of financial risk management in maintaining stability and strengthening investment resilience amid increasing global economic uncertainty and financial volatility. Employing a library research approach combined with content analysis, this study systematically reviews academic and empirical literature published over the past five years, focusing on the dynamics of financial risk, investment decision-making behavior, and the influence of digital transformation on modern risk management systems. The findings reveal that the effectiveness of financial risk management depends on the integration of advanced data analytics, organizational risk culture, and adaptive economic policies that can anticipate and respond to global market fluctuations. Furthermore, digital transformation through the application of artificial intelligence, machine learning, and big data analytics has significantly improved the accuracy of market risk detection, modeling, and early-warning systems. Overall, this study highlights that modern financial risk management functions not only as a loss prevention mechanism but also as a strategic approach to enhance resilience and ensure the long-term sustainability of investment systems.
subject: Articles
  topic: section
subject: Adaptation
  topic: keywords
subject: Economic Uncertainty
  topic: keywords
subject: Financial Resilience
  topic: keywords
subject: Investment
  topic: keywords
subject: Risk Management
  topic: keywords
creator: Yoga Supriyatna
rights: Copyright (c) 2024
date: 2024-12-30
publication date: 2024-12-30
starting page: 150
ending page: 167

Digital Transformation and Sustainability in Global Risk Management
type: item
description: This study examines the evolving paradigm of risk management in the context of global uncertainty by highlighting the integration of digital transformation, sustainability, and organizational resilience. Using a Systematic Literature Review approach, the research analyzes scientific publications from the last five years to identify key trends, conceptual challenges, and existing research gaps within adaptive risk governance frameworks. The findings reveal that digital transformation plays a critical role in enhancing predictive capability, operational efficiency, and strategic decision-making accuracy. Meanwhile, the implementation of sustainability principles strengthens the social and environmental dimensions of long-term risk management and enhances stakeholder trust. The interaction between technological innovation and organizational resilience generates a synergistic model that supports proactive risk management and innovation-driven competitiveness. Despite significant progress, the study underscores the need for a conceptual framework that integrates digital intelligence, sustainability principles, and adaptive governance to build resilient organizations capable of maintaining stability and performance amid global volatility.
subject: Articles
  topic: section
subject: Adaptation
  topic: keywords
subject: Digital Transformation
  topic: keywords
subject: Governance
  topic: keywords
subject: Resilience
  topic: keywords
subject: Sustainability
  topic: keywords
creator: Reza Palalangan
rights: Copyright (c) 2024
date: 2024-12-30
publication date: 2024-12-30
starting page: 130
ending page: 149

Integrating Big Data, Cryptocurrency, and ESG in Sustainable Fiscal Policy
type: item
description: This study aims to comprehensively examine the relationship between big data, sentiment analysis, cryptocurrencies, and Environmental, Social, and Governance principles in the context of modern fiscal policy. Through a narrative study approach to online scientific articles published in the last five years, this research highlights the strategic role of digital technology in strengthening the transparency, efficiency, and sustainability of the global economic system. The results of the study show that the use of big data analytics contributes significantly to increasing the effectiveness of evidence-based fiscal policies, while sentiment analysis provides in-depth insights into public perceptions and responses to economic policies. Cryptocurrency innovations and blockchain technology have also been proven to expand the space of fiscal transparency as well as drive the efficiency of digital financial governance. On the other hand, the integration of Environmental, Social, and Governance principles strengthens the direction of long-term economic sustainability through ethical and responsible investments. This study concludes that the synergy between digital innovation and sustainability value is an important foundation towards a resilient, inclusive, and adaptive fiscal system to global economic changes.
subject: Articles
  topic: section
subject: Big Data
  topic: keywords
subject: Blockchain
  topic: keywords
subject: Cryptocurrency
  topic: keywords
subject: ESG
  topic: keywords
subject: Fiscal
  topic: keywords
creator: Reza Satrio Azi
rights: Copyright (c) 2024
date: 2024-12-30
publication date: 2024-12-30
starting page: 112
ending page: 129

Integrating Sustainable Finance through ESG Principles in the Modern Financial Sector
type: item
description: This study aims to analyze the application of sustainable finance through the Environmental, Social, and Governance framework in the modern financial sector. Using a qualitative descriptive method based on online data search, this study examines scientific literature and institutional reports published in recent years to understand the dynamics of sustainability integration in the financial system. The results of the study show that the implementation of Environmental, Social, and Governance is not only an ethical strategy, but also a strategic necessity for the stability, reputation, and competitiveness of financial institutions amid increasing global sustainability demands. Environmental, Social, and Governance has been proven to increase institutional resilience to socio-environmental risks, strengthen transparency, and link profitability with long-term social responsibility. However, the effectiveness of Environmental, Social, and Governance implementation is still influenced by the readiness of national regulations, institutional capacity, and the varying quality of sustainability reporting between countries. Therefore, collaboration between governments, financial institutions, investors, and the public is a key factor in creating a transparent, inclusive, and long-term oriented financial ecosystem towards equitable and sustainable green economic development.
subject: Articles
  topic: section
subject: Economic Sustainability
  topic: keywords
subject: ESG
  topic: keywords
subject: Financial Sector
  topic: keywords
subject: Green Economy
  topic: keywords
subject: Sustainable Finance
  topic: keywords
creator: Muhammad Abdul Majid
rights: Copyright (c) 2024
date: 2024-12-30
publication date: 2024-12-30
starting page: 94
ending page: 111

Transforming Modern Financial Management and Investment through Fintech and ESG Integration
type: item
description: The transformation of modern financial management has undergone a significant evolution driven by globalization, digitalization, and the development of financial technology fostering the emergence of risk-based management approaches and sustainable practices grounded in Environmental, Social, and Governance principles. This shift requires companies to be increasingly proactive, adaptive, and strategic in managing financial resources while enhancing investor confidence. Technological innovations such as big data analytics and artificial intelligence strengthen transparency, efficiency, and accountability, resulting in more precise investment decisions and risk management practices. considerations are increasingly emphasized by investors when evaluating long-term performance and business sustainability. This study aims to analyze the dynamics of modern financial management transformation, focusing on the integration of financial technology, the adoption of risk-based management, and their implications on investor behavior and strategic decision-making in global markets. By examining the interplay between financial technology and risk-oriented approaches, the research highlights the critical role of digital tools in fostering sustainable, transparent, and resilient financial systems while influencing investment patterns and capital allocation strategies.
subject: Articles
  topic: section
subject: ESG
  topic: keywords
subject: Financial Management
  topic: keywords
subject: Fintech
  topic: keywords
subject: Investor
  topic: keywords
subject: Risk-Based Management
  topic: keywords
creator: Muhammad Fuad Riyadi
rights: Copyright (c) 2024
date: 2024-06-30
publication date: 2024-06-30
starting page: 75
ending page: 93

Integrating Rationality and Behavioral Factors in Investment Decision-Making Under Global Economic Uncertainty
type: item
description: Investment decisions play a vital role in maintaining economic stability and enhancing a country’s productive capacity. In the context of global economic uncertainty, investor behavior is often not entirely rational. This study examines the relationship between rationality, uncertainty, and behavioral factors influencing investment decisions. The behavioral finance approach reveals that cognitive biases, emotions, and risk perceptions play crucial roles in the investment decision-making process. Using a literature review method, this research analyzes academic works published over the past five years to understand patterns of rational and irrational decision-making under global uncertainty. The findings indicate that investors who can effectively balance rational and psychological aspects are better positioned to minimize risks and enhance the long-term effectiveness of their investments. Furthermore, the study contributes to the body of financial literature by emphasizing the importance of integrating rational analysis with psychological awareness in the investment decision process. Such integration is essential for developing adaptive, sustainable, and informed investment strategies in an increasingly volatile economic environment.
subject: Articles
  topic: section
subject: Behavioral Finance
  topic: keywords
subject: Economic Uncertainty
  topic: keywords
subject: Investment Decisions
  topic: keywords
subject: Investor Psychology
  topic: keywords
subject: Rationality
  topic: keywords
creator: Intan Tsania Putri
rights: Copyright (c) 2024
date: 2024-06-30
publication date: 2024-06-30
starting page: 57
ending page: 74

Enhancing Investor Confidence through Internal Audit Transformation and Enterprise Risk Management Maturity
type: item
description: The dynamics of the modern business environment require companies to adapt to economic uncertainty, technological disruption, and regulatory complexity, all of which significantly influence investment decisions. This study aims to analyze the relationship between the transformation of the internal audit function, the level of risk management maturity, and their impact on investor confidence and investment sustainability. Through a comprehensive literature review of recent empirical and conceptual studies, the findings demonstrate that a strategically oriented internal audit does not merely serve as a compliance mechanism but functions as a value-adding partner that enhances corporate governance effectiveness. The integration of risk management frameworks based on international standards such as ISO 31000 has been shown to increase transparency, accountability, and investor perceptions of governance credibility. These insights highlight the critical role of synergy between internal audit and risk management maturity in strengthening organizational resilience and promoting sustainable investment practices in the global market. The study contributes to the theoretical discourse by positioning governance maturity as a determinant of investment attractiveness and long-term financial stability.
subject: Articles
  topic: section
subject: Governance Maturity
  topic: keywords
subject: Internal Audit
  topic: keywords
subject: Investment Sustainability
  topic: keywords
subject: Investor Confidence
  topic: keywords
subject: Risk Management
  topic: keywords
creator: Syalaisha Alifia Jauhari
rights: Copyright (c) 2024
date: 2024-06-30
publication date: 2024-06-30
starting page: 38
ending page: 56

The Role of Financial Management and Liquidity Theories in Enhancing Investment Risk Mitigation
type: item
description: Financial management plays a strategic role in sustaining corporate continuity amid global economic uncertainty. Effective financial performance is not solely determined by revenue growth but also by the capacity to manage liquidity, investment risk, and efficient utilization of resources. This study aims to examine the interrelationship between financial management, liquidity theory, and investment risk management strategies. A qualitative descriptive approach is employed to illustrate the practical application of liquidity theories, including shiftability theory and Moulton’s theory, within the framework of Basel III regulations and their implications for corporate financial stability. The findings indicate that integrating financial policies with investment risk mitigation constitutes a critical factor in maintaining healthy cash flows, enhancing shareholder value, and strengthening business resilience against economic shocks. Furthermore, the study emphasizes the importance of adopting financial technology innovations and portfolio diversification to reinforce managerial resilience and support strategic decision-making in dynamic market conditions. These insights contribute to a deeper understanding of how financial management and risk strategies collectively promote long-term organizational sustainability.
subject: Articles
  topic: section
subject: Basel III
  topic: keywords
subject: Financial Management
  topic: keywords
subject: Financial Strategy
  topic: keywords
subject: Investment Risk
  topic: keywords
subject: Liquidity
  topic: keywords
creator: Karina Dwi Oktavia
rights: Copyright (c) 2024
date: 2024-06-30
publication date: 2024-06-30
starting page: 19
ending page: 37

The Influence of Cognitive Biases on Investor Behavior in Periods of Economic Instability
type: item
description: Global economic uncertainty often triggers substantial shifts in investor behavior. In this context, behavioral finance theory explains that investment decisions are not solely driven by rational analysis but are also shaped by psychological factors and cognitive biases. This study aims to analyze the transformation of investor behavior during periods of economic uncertainty using a library research approach. The findings reveal that cognitive biases such as overconfidence, confirmation bias, and loss aversion play a crucial role in driving irrational investment behavior. When uncertainty intensifies, investors tend to become more pessimistic and exhibit heightened sensitivity to negative information compared to positive signals, leading to suboptimal asset allocation decisions. Moreover, market fluctuations are frequently influenced by emotional responses rather than fundamental evaluations, reflecting bounded rationality in financial decision-making processes. This study highlights the necessity of integrating psychological insights into investment strategies and policy frameworks to enhance adaptability in volatile market conditions. By understanding behavioral tendencies, investors, policymakers, and financial institutions can develop more resilient strategies that account for the complexities of human behavior in financial decision-making.
subject: Articles
  topic: section
subject: Behavioral Finance
  topic: keywords
subject: Cognitive Bias
  topic: keywords
subject: Economic Uncertainty
  topic: keywords
subject: Investment Decision
  topic: keywords
subject: Investor Behavior
  topic: keywords
creator: Rerry Sulestiyoko
rights: Copyright (c) 2024
date: 2024-06-30
publication date: 2024-06-30
starting page: 1
ending page: 18

Financial Literacy, Risk Perception, and Risk Tolerance in Investment Decisions in Indonesia
type: item
description: This study aims to analyze the relationship between financial literacy, risk perception, and risk tolerance on investment decisions in Indonesia through a Systematic Literature Review approach. Several scientific articles published in the last five years and indexed by Google Scholar were systematically analyzed to identify patterns of relationships between variables and trends in relevant research results. The results of the study show that financial literacy has a positive and significant effect on the quality of investment decisions, both directly and indirectly through an increase in individual risk tolerance levels. Risk perception acts as a psychological factor that mediates the way individuals assess uncertainty, opportunities, and potential returns from investment decisions. Meanwhile, risk tolerance serves as a reinforcing factor that balances courage and caution in the decision-making process. These three variables simultaneously shape rational, adaptive, and sustainable investment behavior. The findings of this study are expected to be an important reference in the development of financial education policies, the improvement of public financial literacy, and the expansion of national financial inclusion in the era of economic digitalization.
subject: Articles
  topic: section
subject: Financial Education
  topic: keywords
subject: Financial Literacy
  topic: keywords
subject: Investment
  topic: keywords
subject: Risk Perception
  topic: keywords
subject: Risk Tolerance
  topic: keywords
creator: Khoiron Nur Ashari
rights: Copyright (c) 2023
date: 2025-11-22
publication date: 2025-11-22
starting page: 166
ending page: 183

The AI Implementation Gap in Business Processes: Marketing Focus Versus Data Threats
type: item
description: Business trends in the digital era show rapid acceleration with Artificial Intelligence as the main driver of organizational transformation. This technology is widely implemented to improve operational efficiency and create a sustainable competitive advantage. This study aims to analyze the application of Artificial Intelligence in business processes based on a review of the academic literature of the last five years. The results of the literature study reveal the dominance of the use of Artificial Intelligence in front-office functions, especially in marketing personalization, which has been proven to be effective in improving company revenue performance. However, an important gap was found in the form of an excessive focus on profit optimization without adequately considering data security risk mitigation. Artificial Intelligence’s reliance on sensitive data creates an urgent need for strong governance and ethical frameworks to prevent privacy breaches and cyber threats. Therefore, Artificial Intelligence implementation needs to be directed towards the principle of Responsible Artificial Intelligence that balances innovation with data asset protection, to ensure business sustainability while maintaining customer trust in the digital era.
subject: Articles
  topic: section
subject: Artificial Intelligence
  topic: keywords
subject: Business Process
  topic: keywords
subject: Data Security
  topic: keywords
subject: Gap Analysis
  topic: keywords
subject: Literature Review
  topic: keywords
creator: Yudi Yanto
rights: Copyright (c) 2023
date: 2025-11-22
publication date: 2025-11-22
starting page: 148
ending page: 165

Technology Optimization in Generation Z Digital Investment in the Society 5.0 Era
type: item
description: This study aims to analyze the role of technology optimization in driving digital investment development among Generation Z in the Society 5.0 era. Through a qualitative research method based on literature studies, data was obtained from various scientific sources published in the last five years that are relevant to the themes of technology, digital investment, and youth behavior. The results of the study show that advances in financial technology, such as fintech and online investment platforms, provide great opportunities for Generation Z to actively participate in the digital economy. However, low digital financial literacy remains a major challenge that has the potential to hamper the sustainability of investment. Technology optimization must be balanced with an increased understanding of digital ethics, adaptive regulations, and collaboration between the government, financial institutions, and the education sector. This research emphasizes that the success of Society 5.0 implementation lies in the balance between technological innovation and sustainable human values.
subject: Articles
  topic: section
subject: Digital Adaptation
  topic: keywords
subject: Digital Investment
  topic: keywords
subject: Financial Literacy
  topic: keywords
subject: Generation Z
  topic: keywords
subject: Society 5.0
  topic: keywords
creator: Muhammad Tajuddin
rights: Copyright (c) 2023
date: 2025-11-22
publication date: 2025-11-22
starting page: 128
ending page: 147

The Synergy of Risk Management and Corporate Governance on Business Performance and Sustainability
type: item
description: This study aims to analyze the relationship between risk management, corporate governance, and company performance in a cross-sector context. Using a Systematic Literature Review approach to various articles indexed by Google Scholar over the past five years, this study identifies consistent patterns of relationships between the effectiveness of risk management and the quality of Good Corporate Governance implementation on increasing company value and performance. The results of the study show that the integration of these two concepts plays an important role in creating operational efficiency, strengthening investor confidence, and increasing organizational resilience amid global economic uncertainty. Furthermore, the implementation of transparent and accountable Good Corporate Governance has been proven to strengthen risk management discipline and reduce the potential for internal conflicts of interest. Overall, this study confirms that the synergy between risk management and Good Corporate Governance not only functions as a control instrument but also as a key strategy in creating long-term value and business sustainability in the dynamic digital era.
subject: Articles
  topic: section
subject: Accountability
  topic: keywords
subject: Corporate Governance
  topic: keywords
subject: Firm Performance
  topic: keywords
subject: Risk Management
  topic: keywords
subject: Sustainability
  topic: keywords
creator: Dira Efriani
rights: Copyright (c) 2023
date: 2025-11-22
publication date: 2025-11-22
starting page: 109
ending page: 127

Financial Literacy, Financial Behavior, and Risk Tolerance: A Conceptual Review Based on Literature
type: item
description: This study aims to analyze the relationship between financial literacy, financial behavior, financial education, and risk tolerance using a literature review approach. The study was conducted on a number of Google Scholar-indexed scientific articles published in the last five years. The results of the analysis show that financial literacy has a significant influence on financial behavior and the level of risk tolerance of individuals. Individuals with a high level of financial literacy tend to make more rational financial decisions, are able to manage risks wisely, and have more stable and sustainable economic welfare. In addition, demographic factors such as age, gender, education level, and financial experience were shown to moderate the relationship between research variables. Formal and informal financial education plays an important role in strengthening understanding, forming a positive attitude towards money management, and increasing people’s financial awareness. Overall, this study emphasizes that increasing financial literacy is a fundamental strategy to build healthy financial behavior, strengthen economic resilience, and encourage financial independence in the dynamic modern economic era.
subject: Articles
  topic: section
subject: Demographics
  topic: keywords
subject: Financial Behavior
  topic: keywords
subject: Financial Education
  topic: keywords
subject: Financial Literacy
  topic: keywords
subject: Risk Tolerance
  topic: keywords
creator: Annisa Rahma Dianti
rights: Copyright (c) 2023
date: 2025-11-22
publication date: 2025-11-22
starting page: 91
ending page: 108

Strengthening Risk Management Principles in the Fintech Ecosystem for MSME Empowerment in the Digital Economy Era
type: item
description: The transformation of the digital economy has significantly reshaped the global financial landscape, introducing technological innovations such as equity crowdfunding that expand financing access for micro, small, and medium enterprises. Through these digital platforms, entrepreneurs can obtain direct funding from the public without relying solely on conventional financial institutions, which often impose stringent requirements. This phenomenon reflects a paradigm shift from traditional financing systems toward more participatory, inclusive, and technology-driven models. This study aims to analyze the application of risk management principles in digital financial services to establish a financing system that is safe, transparent, and sustainable. Employing a qualitative descriptive approach based on scholarly literature from the past five years, this research emphasizes the importance of principle-based regulation, investor protection, and adaptive internal governance. The findings reveal that the effectiveness of fintech regulation is strongly influenced by cross-authority collaboration and the consistent application of transparency and accountability principles. The study recommends synergy among regulators, industry players, and society to strengthen risk management and foster an inclusive, innovative, equitable, and long-term oriented digital financial ecosystem.
subject: Articles
  topic: section
subject: Digital Economy
  topic: keywords
subject: Fintech
  topic: keywords
subject: Law
  topic: keywords
subject: MSMEs
  topic: keywords
subject: Risk Management
  topic: keywords
creator: Iis Yulita Nur Fitriastuti
rights: Copyright (c) 2022
date: 2022-12-30
publication date: 2022-12-30
starting page: 171
ending page: 187

FinTech, Financial Inclusion, and Global Financial Stability
type: item
description: This study aims to analyze the relationship between financial technology, financial inclusion, and global financial stability using a Systematic Literature Review approach. By reviewing several core and supporting articles published within the past five years, the research reveals that FinTech plays a dual role as both a catalyst for economic efficiency and a potential source of systemic risk. FinTech has been shown to enhance financial stability by improving access to formal financial services, reducing transaction costs, and enabling greater diversification of financial risks. However, this rapid digital transformation also introduces new challenges related to data protection, cybersecurity, and the need for adaptive regulatory frameworks that can respond to technological innovation. The analysis indicates that digital financial inclusion contributes to economic resilience and broadens financial participation when supported by strong consumer protection policies and adequate financial literacy. Therefore, this study emphasizes the importance of close collaboration among regulators, financial institutions, and the technology sector in building an inclusive, resilient, secure, and sustainable digital financial system in the era of global digital transformation.
subject: Articles
  topic: section
subject: Financial Inclusion
  topic: keywords
subject: Financial Stability
  topic: keywords
subject: Fintech
  topic: keywords
subject: Regulation
  topic: keywords
subject: Systemic Risk
  topic: keywords
creator: Fadlila Isnaini
rights: Copyright (c) 2022
date: 2022-12-30
publication date: 2022-12-30
starting page: 151
ending page: 170

Financial Literacy and Investment Motivation as Key Drivers Shaping Investment Behavior
type: item
description: Investment plays a crucial role in enhancing financial well-being and economic stability at the individual level. This study aims to analyze the relationship between investment knowledge, investment motivation, and investment interest toward the investment behavior of Indonesian society. The shift from traditional financial instruments to digital investment platforms serves as the primary background of this research. A literature review approach was employed by examining studies from the past five years that explored psychological and cognitive factors influencing investment decision-making. The findings indicate that investment knowledge significantly enhances the confidence of beginner investors by providing a rational understanding of risks and expected returns. Furthermore, financial and social motivation strengthen the intention to invest, acting as a psychological driver that stimulates proactive financial behavior. Meanwhile, investment interest emerges through the interaction of financial literacy awareness, intrinsic motivation, and individual perceptions of investment opportunities. These elements collectively shape rational investment behavior in the digital era. The study concludes that promoting financial education and expanding digital investment access are essential strategies to increase public participation in Indonesia’s capital market.
subject: Articles
  topic: section
subject: Financial Literacy
  topic: keywords
subject: Investment Behavior
  topic: keywords
subject: Investment Interest
  topic: keywords
subject: Investment Knowledge
  topic: keywords
subject: Investment Motivation
  topic: keywords
creator: Asmarani Asmarani
rights: Copyright (c) 2023
date: 2023-06-30
publication date: 2023-06-30
starting page: 72
ending page: 90

Firm Value Determinants: Insights from Capital Structure and Financing Decisions
type: item
description: Capital structure plays a crucial role in determining the value and financial stability of a firm. This study aims to examine the relationship between capital structure, financing decisions, and their implications for firm value from the perspective of trade-off theory and pecking order theory. A library research approach was employed to review scholarly literature published over the last five years. The findings indicate that an optimal capital structure is achieved by balancing risk and return, with financing decisions considering the minimization of the cost of capital and maintaining financial flexibility. Factors such as external funding needs, debt ratio, and asset management efficiency significantly influence corporate financial performance. Moreover, the results highlight that practical implementation often deviates from theoretical ideals due to managerial preferences and market conditions. This study reinforces the conceptual understanding of how strategic financing decisions can enhance firm value sustainably. By integrating insights from both trade-off theory and pecking order theory, the research guides managers in designing effective funding strategies that support long-term financial stability and growth.
subject: Articles
  topic: section
subject: Capital Structure
  topic: keywords
subject: Financing Decisions
  topic: keywords
subject: Firm Value
  topic: keywords
subject: Pecking Order
  topic: keywords
subject: Trade-Off Theory
  topic: keywords
creator: Nike Silvia Dewi
rights: Copyright (c) 2023
date: 2023-06-30
publication date: 2023-06-30
starting page: 54
ending page: 71

The Interaction between Corporate Governance and Ownership Structure on Risk-Taking Behavior
type: item
description: This research aims to understand in depth how organizational governance and ownership structures influence risk-taking behavior in the context of dynamic modern organizations. Using a descriptive qualitative approach, this study explores the perceptions, values, and managerial experiences of different levels of leadership involved in the strategic decision-making process. The results show that good governance not only serves as a formal oversight mechanism, but also forms a responsible and sustainability-oriented risk culture. Concentrated ownership structures tend to encourage prudence in decision-making, while dispersed ownership as well as managerial ownership have a dual influence on the risk behavior tendencies of organizations. In addition, factors such as organizational values, gender diversity in leadership, and open communication have been shown to strengthen risk control mechanisms and improve the quality of decision-making. This research confirms the importance of synergy between governance, ownership structures, and organizational culture in creating balanced, adaptive risk-taking behaviors that support long-term sustainability.
subject: Articles
  topic: section
subject: Accountability
  topic: keywords
subject: Corporate Governance
  topic: keywords
subject: Managerial Ownership
  topic: keywords
subject: Organizational Culture
  topic: keywords
subject: Risk-Taking
  topic: keywords
creator: Refki Andrean
rights: Copyright (c) 2022
date: 2022-12-30
publication date: 2022-12-30
starting page: 133
ending page: 150