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PORTFOLIO RISK AND MARKET UNCERTAINTY CASE STUDY OF THE INDONESIAN STOCK MARKET Maisur Maisur; Nazariah Nazariah; Ery Jayanti
Jurnal Ilmiah Manajemen, Ekonomi, & Akuntansi (MEA) Vol 10 No 2 (2026): Edisi Mei - Agustus 2026
Publisher : LPPM STIE Muhammadiah Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31955/mea.v10i2.7763

Abstract

This study examines the effect of market uncertainty on portfolio risk in the Indonesian stock market. Increasing market volatility and economic uncertainty have become major challenges for investors in managing investment portfolios, making risk assessment an essential aspect of portfolio management. This research adopts a quantitative approach with an explanatory research design using secondary data consisting of daily returns of the Indonesia Composite Index (IDX Composite) during the observation period. The sample was selected using purposive sampling based on data availability and completeness. Portfolio risk is measured using the volatility of portfolio returns, while market uncertainty is proxied by IDX Composite return volatility and economic uncertainty. The data were analyzed using panel data regression with the Fixed Effect Model (FEM), selected based on the Chow and Hausman tests. The empirical results reveal that IDX Composite return volatility has a positive and statistically significant effect on portfolio risk, indicating that greater market fluctuations increase investment risk. Furthermore, economic uncertainty also exerts a positive and significant influence on portfolio risk, suggesting that unstable macroeconomic conditions intensify uncertainty and expose investors to higher levels of systematic risk. These findings support Modern Portfolio Theory by demonstrating that both market volatility and macroeconomic uncertainty are important determinants of portfolio risk. The study provides practical implications for investors, portfolio managers, and policymakers in developing effective risk management and portfolio allocation strategies under uncertain market conditions.
Digital Performance Analysis of SEUJUTA RISE Based on the Green Economy for the Post-Disaster Recovery of Food MSMEs in Pidie Jaya Regency Ismayli Ismayli; Ramzijah Ramzijah; Maryanti Maryanti; Ery Jayanti; Hismendi Hismendi; Cut Italina
JURNAL HURRIAH: Jurnal Evaluasi Pendidikan dan Penelitian Vol. 7 No. 3 (2026): Jurnal Hurriah: Journal of Educational Evaluation and Research (in Progress)
Publisher : Yayasan Pendidikan dan Kemanusiaan Hurriah Aceh

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56806/jh.v7i3.494

Abstract

This study aims to analyze the effect of green economy-based MSME competitiveness on millennials’ consumer interest in the e-commerce market in Pidie Regency. The development of digitalization and increasing consumer awareness of environmentally friendly products provide strategic opportunities for MSMEs to improve business competitiveness in the digital economy era. However, there are still limitations in the implementation of green economy principles and the utilization of digital marketing among some local MSMEs. This study employed a quantitative approach using a survey method. The research data were collected through questionnaires distributed to 100 respondents consisting of MSME actors and millennial consumers. The sampling technique used accidental sampling. Data analysis was conducted using validity and reliability tests, descriptive statistics, simple linear regression, t-test, and the coefficient of determination (R²) with the assistance of SPSS. The results showed that green economy-based MSME competitiveness had a positive and significant effect on millennials’ consumer interest in the e-commerce market. This was evidenced by a calculated t-value of 6.742, which was greater than the t-table value of 1.984, with a significance level of 0.000 < 0.05 indicating that green economy-based MSME competitiveness made a substantial contribution to millennials’ consumer interest. This study concludes that the implementation of green economy principles, product innovation, and digital marketing can improve MSME competitiveness while strengthening millennials’ interest in local products in the e-commerce market. Therefore, strengthening MSME digitalization and implementing green economy principles sustainably are necessary to support local economic growth.