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All Journal Al-Kharaj: Journal of Islamic Economic and Business Vokatek : Jurnal Pengabdian Masyarakat
Marjono
Institut Bisnis dan Ekonomi Indonesia
Humanities Economics, Econometrics & Finance Social Sciences

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Stock Investment Risk Analysis Using the Value at Risk (VAR) Method Siti Aisyah; Abdul Wahab; Marjono; Prayetno; Nicholas Renaldo
Al-Kharaj: Journal of Islamic Economic and Business Vol. 8 No. 2 (2026): All articles in this issue include authors from 3 countries of origin (Indonesi
Publisher : LP2M IAIN Palopo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24256/kharaj.v8i2.10123

Abstract

This study aims to analyze stock investment risk using the Value at Risk (VaR) method with a qualitative approach. The main focus of the study is to understand how investors interpret risk and how the VaR concept is understood and applied in investment decision-making practices. The research method used is a descriptive qualitative approach with data collection techniques through in-depth interviews, observation, and documentation. Informants in this study were selected through purposive sampling, namely stock investors who have experience in investment activities and a basic understanding of risk. Data analysis was conducted using an interactive analysis model that includes data reduction, data presentation, and conclusion drawing, with data validity maintained through triangulation and member checks. The results show that most investors have recognized the importance of risk in stock investment, but understanding of the Value at Risk (VaR) method is still uneven. Investors with a financial background tend to better understand and utilize VaR in determining risk tolerance limits and investment strategies, while other investors rely more on an intuitive approach. There is a gap between the theoretical concept of VaR and its implementation in the field, caused by the complexity of the calculation, limited financial literacy, and psychological factors such as emotions and speculative behavior. Nevertheless, VaR still holds significant potential as a risk management tool if supported by adequate understanding and the use of financial technology. In conclusion, the application of the Value at Risk (VaR) method in stock investment is still suboptimal, but it has high relevance in helping investors manage risk more measurably. This research contributes to the understanding of risk management practices from an investor behavioral perspective and emphasizes the importance of integrating technical and psychological approaches in investment decision-making.
Digital Transformation Capability and Accounting Information Resilience: Mediating AI-Driven Analytics and Moderating Cybersecurity Governance Napiajo; Marjono; Tia Apriani; Lia Nurina; Alexander Virgiawan Liany Oleona
Vokatek: Jurnal Pengabdian Masyarakat Volume 4: Issue 3 (December 2026)
Publisher : Sakura Digital Nusantara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61255/vokatek.v4i3.2022

Abstract

Digital transformation is reshaping how micro, small, and medium-sized enterprises (MSMEs) generate, analyze, protect, and recover accounting information, yet the mechanisms through which digital capability may contribute to accounting information resilience remain insufficiently integrated. This study develops a capability-based framework linking Digital Transformation Capability (DTC) to Accounting Information Resilience (AIR) through AI-Driven Analytics Capability (AIAC), while positioning Cybersecurity Governance (CSG) as a boundary condition. The study is conceptual in orientation and employs an illustrative benchmark PLS-SEM specification based on a hypothetical structure of 300 digitally engaged MSMEs across six districts of Pontianak City, Indonesia. The benchmark specification is used solely to demonstrate the internal analytical logic of the proposed moderated-mediation model and should not be interpreted as empirical evidence. The illustrative pattern reflects the theoretical expectation that DTC may strengthen AIAC and AIR, that AIAC may serve as an intermediate capability through which digital transformation is translated into more resilient accounting-information processes, and that stronger CSG may enhance the effectiveness of this proposed mechanism. The study contributes by distinguishing accounting information resilience from conventional information quality, identifying AI-enabled analytics as a potential capability-conversion mechanism, and conceptualizing cybersecurity governance as a condition that may strengthen resilience outcomes. The framework provides a theoretically grounded and testable basis for future empirical validation using observed MSME data and for comparative research across emerging-market digital ecosystems.
Co-Authors Abdul Wahab Alexander Virgiawan Liany Oleona Lia Nurina Napiajo Nicholas Renaldo Prayetno Siti Aisyah Tia Apriani