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Safe-Haven and Diversification Roles of Gold and Bitcoin: Evidence from Financial Markets Raksakadarma, Bayu Avrianto; Rahadi, Raden Aswin
Eduvest - Journal of Universal Studies Vol. 5 No. 10 (2025): Eduvest - Journal of Universal Studies
Publisher : Green Publisher Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59188/eduvest.v5i10.51399

Abstract

This study investigates the safe-haven and diversification roles of gold and Bitcoin in financial markets from 2015 to 2025. With rising economic uncertainties, the need for reliable safe-haven assets has become critical. Gold has historically provided stability during crises, whereas Bitcoin's volatile nature raises questions about its reliability as a safe haven. Through empirical analysis, including GARCH models and quantile regression, the research evaluates the performance of both assets during market stress. Findings indicate that gold consistently outperforms Bitcoin in terms of downside protection, confirming its status as a traditional safe-haven asset. Conversely, Bitcoin offers potential diversification benefits, enhancing portfolio performance when combined with gold. The results support the notion that integrating both assets can lead to improved risk-adjusted returns, making a dual-asset investment strategy a practical approach for investors navigating market uncertainties.
Socio-Economic Welfare Clustering: A Sub-National Governments Analysis In Indonesia Aryawati, Ayu; Amri, Mulya; Rahadi, Raden Aswin
Eduvest - Journal of Universal Studies Vol. 5 No. 8 (2025): Eduvest - Journal of Universal Studies
Publisher : Green Publisher Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59188/eduvest.v5i8.51972

Abstract

Indonesia, as the world's largest archipelagic nation, encounters challenges in achieving equitable development and socio-economic well-being across its diverse regions. To address developmental disparities, the central government allocates specific purpose grants, the amount of which is tailored to the development needs of each region. Additionally, Indonesia has established a development financial institution aimed at providing financing and capacity-building support to SNGs in planning and implementing regional development initiatives. In determining the priority of grant allocation, financing, and capacity building, a tool is needed to identify disparities in socio-economic welfare between one SNG and other SNGs in Indonesia. This study examines the use of the clustering method with a K-means approach to group SNGs based on similarity in socio-economic welfare. This study employs Poverty rate, Human Development Index and Gross Regional Development Product per capita from 2021 to 2023 as variables input. At the end of the study, four clusters of SNGs in Indonesia were obtained based on their level of socio-economic welfare.
Business Strategy Through Acquisition By Developing Selection Process Model on Target Company (Case Study PT Sincerity Investama Abadi, Jakarta, Indonesia) Muhammad, Reyhan Devtyan; Rahadi, Raden Aswin; Siahaan , Uke Marius
Cerdika: Jurnal Ilmiah Indonesia Vol. 5 No. 10 (2025): Cerdika: Jurnal Ilmiah Indonesia
Publisher : Publikasi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59141/cerdika.v5i10.2701

Abstract

This study develops a comprehensive selection model framework for acquiring target companies, with a specific focus on PT Sincerity Investama Abadi in Jakarta, Indonesia. The research integrates quantitative valuation methods, including Discounted Cash Flow (DCF) and the Adjusted Net Asset Method (ANAM), with financial ratio analysis to support strategic acquisition decisions. Through the systematic evaluation of five SME candidates using a weighted scoring model, the study identifies the most viable investment opportunities based on financial performance, management readiness, and strategic fit. The findings demonstrate that PT Multindo Cipta Kreasi emerges as the primary acquisition target, with a combined valuation of IDR 2.48 billion and a projected IRR of 15.69%, followed by Omen Futsal as a secondary diversification option. The proposed framework provides private equity and investment firms with a practical tool for optimizing acquisition choices, mitigating risks, and enhancing value creation. The study offers strategic implementation recommendations to improve the selection process and support sustainable investment decisions in the SME sector.
Business Strategy for Sustainable Growth of a Consultant IT Company (Case Study of PT. Mulya, Jakarta, Indonesia) Mulya, Haekal Hanifah; Rahadi, Raden Aswin; Siahaan, Uke Marius
Jurnal Indonesia Sosial Sains Vol. 6 No. 7 (2025): Jurnal Indonesia Sosial Sains
Publisher : CV. Publikasi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59141/jiss.v6i7.1743

Abstract

Technology is a key driver of sustainable business practices in the modern digital era, significantly improving operational efficiency and supporting sustainable consumption. The digital transformation of activities such as shopping and information exchange has accelerated technological development globally, including in Indonesia. Government initiatives, such as expanding internet networks, implementing digital payment systems, digitizing population data, and creating smart cities, have provided ample opportunities for the technology sector, including IT consulting firms like PT. Mulya in Jakarta. This research aims to identify the most sustainable and profitable strategic option for PT. Mulya to ensure its long-term growth and resilience amidst growing investor interest. The study adopts both qualitative and quantitative approaches, focusing on financial aspects relevant to sustainable business practices. The analysis includes a financial position audit, company valuation, and financial projections for PT. Mulya. The results offer insights into PT. Mulya's financial standing, providing clarity on the most viable strategic option among four proposed: majority acquisition, minority acquisition, joint cooperation, or rejecting the offer. The findings indicate the potential for PT. Mulya to enhance profitability and ensure sustainability with the right strategy. PT. Mulya can optimize its growth and sustainability by adopting the most suitable strategic option based on the research's findings. The study emphasizes the importance of aligning strategy with long-term financial goals for sustainable success. The study's implications provide valuable guidance for PT. Mulya and other similar firms in making informed strategic decisions that balance profitability with sustainability in a rapidly evolving digital landscape.
Digital Adoption in Informal Micro-Property Management: A TAM–Lean–BMC Conceptual Framework and Research Agenda Esri Hestiningtyas; Rahadi, Raden Aswin
Journal Integration of Management Studies Vol. 4 No. 1 (2026): Article In Press
Publisher : Integrasi Sains Media

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58229/jims.v4i1.403

Abstract

This conceptual study tackles the digital-adoption gap in Jakarta's kos-kosan boarding-house rooms, where landlords managing 5–20 units still juggle paper ledgers despite near-universal smartphone and WhatsApp use. Guided by the Technology Acceptance Model (TAM), Lean Start-up logic, and the Business Model Canvas (BMC), this research develops an integrated theoretical framework that explains behavioral hesitancy, sequences low-risk Minimum Viable Product (MVP) iterations, and pinpoints the "missing-middle" niche for a boarding house management platform. The proposed framework positions TAM to surface core drivers (perceived usefulness and ease of use) recast for WhatsApp-first workflows. Lean Start-up methodology will then map these insights into quick, feedback-rich MVP cycles tuned to resource-constrained settings. BMC will situate the validated feature set in a defendable market position underserved by premium PropTech and ultra-basic bots. This conceptual foundation establishes the theoretical groundwork for future empirical phases, which will combine stakeholder interviews and platform benchmarking to diagnose pain points, quantify adoption triggers, and refine the MVP and business model through qualitative fieldwork and pilot deployments. By linking behavior, experimentation, and strategy, this study lays a theory-driven pathway toward inclusive digital transformation in informal housing in emerging economies, with empirical validation planned for subsequent research phases.
The Logistics Financier as a Strategic Orchestrator: Simulating Supply Chain Finance to Unlock Profitability in State-Owned Logistics Ria, Poeti; Rahadi, Raden Aswin
Journal Integration of Management Studies Vol. 4 No. 1 (2026): Article In Press
Publisher : Integrasi Sains Media

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58229/jims.v4i1.425

Abstract

As the logistics industry undergoes rapid transformation, companies are evolving beyond their traditional role of transporting goods to become orchestrators of capital and information flows. While Supply Chain Finance (SCF) is widely recognized for optimizing working capital, its application in state-owned enterprises (SOEs) remains underexplored, particularly due to regulatory restrictions prohibiting direct lending. Addressing this gap, this study proposes an adaptation of the Logistics Financier orchestration model tailored for an Indonesian state-owned logistics enterprise currently experiencing a liquidity shortfall of IDR 4.3 billion. Employing an exploratory sequential mixed-method design, this research integrates expert interviews to construct model parameters and utilizes Monte Carlo simulation to assess financial robustness. The simulation reveals that a holistic SCF approach—integrating Purchase Order (PO) Financing and Reverse Factoring—can effectively bridge a funding gap of IDR 39 billion and generate an expected net profit of IDR 12.8 billion. However, a critical finding indicates negative profitability (-1.62%) within the Government segment, highlighting a theoretical misalignment between market-driven SCF tools and bureaucratic governance structures. This study contributes to SCF literature by conceptualizing the orchestrator’s role as a financial intermediary and empirically demonstrating that SCF serves as a high-sensitivity value amplifier. Its effectiveness depends on institutional context and strict operational discipline.
REGENERATIVE CITIES: ECONOMIC MODELS AND FINANCIAL STRATEGIES FOR SUSTAINABLE URBAN GROWTH Rahadi, Raden Aswin; Ria, Poeti; Hapsariniaty, Alia Widyarini; Fajar Afgani, Kurnia; Firmansyah Hakam, Dzikri
Tata Kota dan Daerah Vol. 17 No. 2 (2025): Jurnal Tata Kota dan Daerah
Publisher : Department of Urban and Regional Planning, Faculty of Engineering, Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/ub.takoda.2025.017.02.9

Abstract

As urbanization accelerates amidst the escalating climate crisis, the paradigm is shifting from reactive to proactive response through regenerative urbanism. However, while the technical and ecological foundations are standardized, the economic pathways, especially in developing economies, are fragmented. This study bridges that gap by synthesizing foundational theories with recent empirical evidence (2022 – 2025) to construct a cohesive strategic framework for financing regenerative cities. Findings indicate that regenerative urbanism has evolved from a theoretical ideal into a pragmatic economic strategy applicable across diverse urban contexts. By leveraging advanced technological tools—such as AI-assissted spatial analysis and standardized valuation models—cities can now quantify and monetize “hidden” ecosystem services, transforming them into bankable assets that attract global institutional investment. Both external and internal financial instruments, such as Green Bonds and Land Value Capture (LVC), are proven applicable towards diverse urban contexts. Crucially, the research emphasizes on strong alignment between financial innovation and regulatory framework to ensure a successful regenerative urbanism transition. Policymakers must harmonize regulatory frameworks to resolve policy incoherence, ensuring that regenerative initiatives achieve substantive outcomes rather than mere procedural compliance. Ultimately, this study positions regenerative cities not just as ecological necessities, but as competitive, self-sustaining economic hubs for the future.