Behavioral Biases on Investment Decision: A Case Study in Indonesia

KARTINI, Kartini,NAHDA, Katiya Korea Distribution Science Association 2021 The Journal of Asian Finance, Economics and Busine Vol.8 No.3

A shift in perspective from standard finance to behavioral finance has taken place in the past two decades that explains how cognition and emotions are associated with financial decision making. This study aims to investigate the influence of various psychological factors on investment decision-making. The psychological factors that are investigated are differentiated into two aspects, cognitive and emotional aspects. From the cognitive aspect, we examine the influence of anchoring, representativeness, loss aversion, overconfidence, and optimism biases on investor decisions. Meanwhile, from the emotional aspect, the influence of herding behavior on investment decisions is analyzed. A quantitative approach is used based on a survey method and a snowball sampling that result in 165 questionnaires from individual investors in Yogyakarta. Further, we use the One-Sample t-test in testing all hypotheses. The research findings show that all of the variables, anchoring bias, representativeness bias, loss aversion bias, overconfidence bias, optimism bias, and herding behavior have a significant effect on investment decisions. This result emphasizes the influence of behavioral factors on investor's decisions. It contributes to the existing literature in understanding the dynamics of investor's behaviors and enhance the ability of investors in making more informed decision by reducing all potential biases.

The Influence of Startup Business Characteristics on Investment Decisions of Business Angels

Kartini KARTINI,Galuh Candya CALLISTA 한국유통과학회 2021 The Journal of Asian Finance, Economics and Busine Vol.8 No.6

A startup company (startup or start-up) is an entrepreneurial venture which is typically a newly emerged, fast-growing business that aims to meet a marketplace need by developing or offering an innovative product, process, or service. Creative ideas initiated by young people have made the number of startups in Indonesia on the rise. A startup is considered to have good business potential, thus attracting investors to invest. These investors could be institutional and individuals. Individual investors that invest their funds in startup companies are called business angels or angel investors. In this context to make an investment decision, there are a few things that need to be considered to appraise whether the investment is feasible. The purpose of this research is to see how business angels appraise the characteristics of the startup business in which they invest. There are three characteristics to be considered - the characteristics of the founder, product characteristics, market characteristics. This study uses a quantitative method by making use of questionnaires as the data collection technique. The questionnaires were distributed to startup investors domiciled in Yogyakarta with a sample size of 100. The research findings reveal that founders’ characteristics, product characteristics, market characteristics can affect the investment decisions of business angels.

The Fraud Gone Model and Political Connection - Distribution Approach

SUDIRMAN Irmayanti,HASAN Hamida,Kartini Kartini,Syamsuddin Syamsuddin,Nirwana Nirwana 한국유통과학회 2023 유통과학연구 Vol.21 No.12

Purpose: This research aims to analyze the influence of greed, opportunity, need, exposes on fraudulence financial reporting by using the distribution of political connections as a moderating variable. Research design, data, methodology: Using data collected from 180 respondents who were leaders involved in financial reports in state-owned companies and manufacturing companies in South Sulawesi, Indonesia. Data analysis using SEM PLS. Results: The results of this research show that greed, opportunity, need, exposes, political connections have a significant positive effect on fraudulence financial reporting. Political connection is able to moderate greed, need, exposes to fraudulence financial reporting. Furthermore, political connections are unable to moderate the opportunity for fraudulence financial reporting in company. Conclusion: Greed, opportunities, needs, exposes can influence someone to carry out financial fraud reporting in the company because of internal or external factors that cause someone to commit fraud. Every perpetrator of fraud should be subject to punishment or sanctions if proven to have committed fraud. Political connections can influence fraudulent financial reporting due to the potential for intervention and political pressure that can affect the integrity of financial reporting. Political connections are able to moderate greed, need, exposes against fraudulent financial reporting.

Disrupted-in-Schizophrenia-1 SNPs and Susceptibility to Schizophrenia: Evidence from Malaysia

A. Talib Norlelawati,Abdullah Kartini,Kuzaifah Norsidah,Musa Ramli,Abdul Razak Tariq,Wan Taib Wan Rohani 대한신경정신의학회 2015 PSYCHIATRY INVESTIGATION Vol.12 No.1

ObjectiveaaEven though the role of the DICS1 gene as a risk factor for schizophrenia is still unclear, there is substantial evidence from functional and cell biology studies that supports the connection of the gene with schizophrenia. The studies associating the DISC1 gene with schizophrenia in Asian populations are limited to East-Asian populations. Our study examined several DISC1 markers of schizophrenia that were identified in the Caucasian and East-Asian populations in Malaysia and assessed the role of rs2509382, which is located at 11q14.3, the mutual translocation region of the famous DISC1 translocation [t (1; 11) (p42.1; q14.3)]. MethodsaaWe genotyped eleven single-neucleotide polymorphism (SNPs) within or related to DISC1 (rs821597, rs821616, rs4658971, rs1538979, rs843979, rs2812385, rs1407599, rs4658890, and rs2509382) using the PCR-RFLP methods. ResultsaaIn all, there were 575 participants (225 schizophrenic patients and 350 healthy controls) of either Malay or Chinese ethnicity. The case-control analyses found two SNPs that were associated with schizophrenia [rs4658971 (p=0.030; OR=1.43 (1.35–1.99) and rs1538979-(p=0.036; OR=1.35 (1.02–1.80)] and rs2509382-susceptibility among the males schizophrenics [p=0.0082; OR=2.16 (1.22–3.81)]. This is similar to the meta-analysis findings for the Caucasian populations. ConclusionaaThe study supports the notion that the DISC1 gene is a marker of schizophrenia susceptibility and that rs2509382 in the mutual DISC1 translocation region is a susceptibility marker for schizophrenia among males in Malaysia. However, the finding of the study is limited due to possible genetic stratification and the small sample size.

The Effect of Managerial Capabilities, Strategic Alliance and Strategic Innovation on Product Lifecycle Management

Daman SUDARMAN,Dwi KARTINI,R Arief HELMI,Rita Komala DEWI 한국유통과학회 2021 The Journal of Asian Finance, Economics and Busine Vol.8 No.6

RTD tea, which is the most popular soft drink choice after bottled water, has experienced trade challenges during the COVID-19 pandemic. The purpose of this study was to examine the effect of managerial capabilities, strategic alliance and strategic innovation on product lifecycle management and corporate performance is moderated by the social media in RTD tea companies. The research method used in this research is a quantitative approach with data processing using SemPls. The results showed that the Managerial Capabilities variable did not have a significant effect on Marketing Performance, the Managerial Capabilities variable did not have a significant effect on Product Lifecycle Management, the Product Lifecycle Management variable had a significant effect on Marketing Performance, the Social Media variable was proven to mediate PLM Marketing Performance, the Strategic Alliance variable did not have a significant effect on Marketing Performance. The Strategic Alliance variable had no significant effect on Product Lifecycle Management, the Strategic Innovation variable had a significant effect on Marketing Performance, and the Strategic Innovation variable had a significant effect on Product Lifecycle Management.

Formation of mesostructured titania thin films using isopropoxide precursors

G.Q.M. Lu,I. Kartini,P. Meredith,Diniz da Costa,J. D. Riches 한국물리학회 2004 Current Applied Physics Vol.4 No.2-4

Mesostructured titania thin lms were prepared by an evaporation-induced self-assembly process. The highly acidic sol pre-cursors contained titanium(IV) tetraisopropoxide (TTIP) as a titanium source, a tri-block copolymer Pluronic P123 as a template,and acetylacetonate and HCl as hydrolysis inhibitors. Characteristics of the resultant titania thin lms were studied using X-raydiraction (XRD) analysis, N2-adsorption/desorption analysis, and transmission electron microscopy (TEM). XRD and TEMinvestigations on the as-synthesised lms revealed the appearance of cubic-like, pseudohexagonal, and lamellar mesophases;depending on the amount of water in the sols of lm precursors. Template removal by a calcination process yields high surface area(320360 m2/g) mesoporous materials with crystalline anatase frameworks. Water content also inuences the degree of anatasecrystallinity of the calcined lms. Higher water content resulted in improved anatase crystallinity. These nanostructured materialsare of interest for photocatalysts, photoelectrochemical solar cells and other photonic devices.

Moderating of the Role of Technology Theory to the Existence of Consumer Behavior on e-commerce

Daduk Merdika MANSUR,Erni Tisnawati SULE,Dwi KARTINI,Yevis Marty OESMAN,Aditya Halim Perdana Kusuma Putra,Nurul CHAMIDAH 한국유통과학회 2019 유통과학연구 Vol.17 No.7

Purpose – e-Commerce is now one of the alternatives in shopping. Ease of Use and convenience aspects are the main supporting reasons that e-commerce is a trend for most people today. This study examines the relationship between the theory of technology to consumer behavior in using e-commerce applications. Research design, data, and methodology – The number of samples in this study was 600 samples from four major e-commerce made in Indonesia. The research method of this study Structural Equation Model (SEM) with AMOS and SPSS applications as analysis tools. Results – The results of this study state that most hypotheses support prior research and grand theory. On the other hand, the components of technology acceptance theory are mostly able to moderate variable consumer behavior in the digital era. Conclusions – The combination of essential elements of technology theory are oriented to the fundamental aspects of human beings as social beings. The most important thing for the development of the e-commerce industry to develop and be sustainable is the obligation to increase consumer confidence. The combination of components of technology theory and CCT can be a comprehensive marketing strategy and innovation to competitive advantage in the future.

New Development of Wyndham Park, Australia Using 3-D Visualisation

Abdul Ghani, Mimi Zaleha,Sarkom, Yazid,Kasmuri, Kartini 한국생태환경건축학회 2018 한국생태환경건축학회 학술발표대회 논문집 Vol.18 No.2

The study demonstrated the actual process of developing a 3-D model for planning applications in the context of a local planning authority in Australia by exploring the use of interactive 3-D model to assist the Wyndham City Council in preparing for the revised local structure plan by transforming existing conventional planning materials into easily understood form. It highlights how 3-D visualisation has provided a better understanding of a development project in comparison to the existing 2-D information and its potential in testing of future scenarios and proposals for the council`s future sustainable development including urban activity centres.

Understanding Technology Readiness Factors Influencing Customer Experience towards Continuance Usage Intention of Grab Application in Malaysia: A Conceptual Review

Noor Aslinda Abu SEMAN,Umi Kartini RASHID,Ahmad Kaseri RAMIN,Nurazwa AHMAD 한국유통과학회 2018 KODISA ICBE (International Conference on Business Vol.2018 No.-

The emerging of e-hailing services such as Grab application gave many benefits to daily life of community nowadays, for instance providing better service, lower fares and convenience rides to customer. However, as a new technology of mobile application in transportation sector, Grab application also may had some failure and technical difficulties that may impact on customers’ experience while using it. Limited studies on the adoption of Grab application based on technology readiness factors. Also, lack discussion on the overall customer experience towards the usage of Grab application. Since the Grab application penetrated the Malaysian market five years ago in 2014, there is still a room to improve the understanding on the adoption and customers’ satisfaction of an application among customers, thus indirectly lead customer to continue use of the application. Therefore, this paper attempts to review and assess the Grab application using proposed structural relationship model of technology readiness factors (TR), customer experience model (CEM) and continuance usage of intention (CUI). All related constructs were presented in the proposed research conceptual model where research hypotheses were developed. As a conclusion, the paper brought forward suggestions for future research.

Inadequate vitamin D intake among pregnant women in Malaysia based on revised recommended nutrient intakes value and potential dietary strategies to tackle the inadequacy

Siew Siew Lee,Raman Subramaniam,Maiza Tusimin,King Hwa Ling,Kartini Farah Rahim,Su Peng Loh 한국영양학회 2021 Nutrition Research and Practice Vol.15 No.4

BACKGROUND/OBJECTIVES: Recently, the recommended nutrient intakes (RNI) for vitamin D for Malaysian aged 1–70 yrs has been revised from 5 μg/day to 15 μg/day. This study is aimed to assess the adequacy of vitamin D intake based on revised RNI and to recommend several dietary strategies to increase total vitamin D intake. SUBJECTS/METHODS: Vitamin D intake from both food and supplement of 217 pregnant women was assessed using a validated food frequency questionnaire. Hypothetical effect of expanded supplementation and food fortifications strategies were modelled using the consumption data. RESULTS: The results revealed that more than half (67.7%) of pregnant women had inadequate vitamin D intake (RNI < 15 μg/day). The modelling results demonstrated the potential of universal provision of 10 μg/day of multivitamins supplements in increasing vitamin D intake. Moreover, mandatory fortification of both milk and malted drink at single level of 5 μg/serving would lead to increase in vitamin D intake of Malaysians, particularly pregnant women. CONCLUSIONS: The outcome of this study can be used as a reference for public health professionals to re-evaluate the existing Malaysian food fortification policies and supplementation recommendation for vitamin D for pregnant women.