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        Factors Affecting Start-up Behavior and Start-up Performance During the COVID-19 Pandemic in Indonesia

        Cristoper Allen PRAMONO,Adler Haymans MANURUNG,Pantri HERIYATI,Wibowo KOSASIH 한국유통과학회 2021 The Journal of Asian Finance, Economics and Busine Vol.8 No.4

        The worldwide spread of the COVID-19 pandemic has had a severe impact on the global economy. The COVID-19 pandemic has spread with alarming speed and. The economic damage is already evident and represents the largest economic shock the world has experienced in decades. This study analyzes the factors that influence behavior and its impact on start-up performance, through technology capabilities, technology development, organizational structure characteristics, and leadership technology. The mixed-method was used in this research to be applied to start-up companies in Jabodetabek with a population of 522 start-ups. Then the sample was selected through purposive sampling technique to obtain a sample of 187 start-ups. Primary data was collected through a questionnaire, then statistical analysis was carried out using Partial Least Square. There are ten variables used in the model as measured by the questionnaire. The results showed that the four factors (agility, entrepreneurship capability, business transformation, and opportunity) significantly influence start-up behavior. The results showed that the start-up behavior significantly influenced technology capabilities, technology development, organizational structure characteristics, and leadership technology. This study also found that start-up behavior had the greatest influence on organizational structure characteristics, partially affect start-up performance, but leadership technology does not have a significant effect on start-up performance.

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        The Influence of Risk Perception on Destination Attachment and Voluntourism Behavior: Empirical Evidence from Indonesia

        PANGARIBUAN, Christian Haposan,MANURUNG, Adler Haymans,SAROSO, Hardijanto,RUSMANTO, Toto Korea Distribution Science Association 2021 The Journal of Asian Finance, Economics and Busine Vol.8 No.3

        Alternative forms of travel have recently been delivering rewarding experiences and promising sustainable development for the tourism sector. However, it also depends on the uncertainties, consequences, and emotional connection with the destination. So far, the scholars have done limited empirical studies on volunteer tourism in Bali. Thus, this study tries to measure volunteer tourists' behavior by understanding the relationship between destination attachment, risk perception, and voluntourism behavior. Therefore, a study on the inclusivity of tourists' attachment to a particular place and perceived risks in volunteer tourism is an essential need to sustain the tourism industry. Data was analyzed using Partial Least Squares with smartPLS software. This study is based on a sample of ninety-three tourists of generation Z in Bali, Indonesia. Both outer model and inner model evaluation were conducted to ensure the robustness of the proposed model. The findings showed that destination attachment does have a direct and significant effect on voluntourism behavior. As expected, we also find that perceived risk has a significant moderating role on the relationship. Hence, greater efforts are needed to improve the image of the place by highlighting the characteristics of the locations. At the same time, it is necessary to put considerable effort to alleviate unfavorable conditions by creating safe environment surrounding the destination.

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        Stock Selection Model in the Formation of an Optimal and Adaptable Portfolio in the Indonesian Capital Market

        SETIADI, Hendri,ACHSANI, Noer Azam,MANURUNG, Adler Haymans,IRAWAN, Tony Korea Distribution Science Association 2022 The Journal of Asian Finance, Economics and Busine Vol.9 No.9

        This study aims to determine the factors that can influence investors in selecting stocks in the Indonesian capital market to establish an optimal portfolio, and find phenomena that occurred during the COVID-19 pandemic so that buying interest / the number of investors increased in the Indonesian capital market. This study collection technique uses primary data obtained from the survey questionnaire and secondary data which is market data, stock price movement data sourced from the Indonesia Stock Exchange, Indonesian Central Securities Depository, and Bank Indonesia, as well as empirical literature on behavior finance, investment decision, and interest in buying stock. The method used in this research is the survey questionnaire analysis with the SEM (statistical approach). The results of the analysis using SEM show that investor behavior influences the stock-buying interest, investor behavior, and the stock-buying interest influences investor decision-making. However, risk management does not influence investor-decision making. This occurs when the investigator's psychological capacity produces more decision information by decreasing all potential biases, allowing the best stock selection model to be selected. When the investigator's psychological capacity creates more decision information by reducing biases, the optimum stock selection model can be chosen.

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