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The Meaning of Risk in Stock Investment: A Phenomenological Study of Beginner Investors Retnowati Jasa; Bambang Sugeng Dwiyanto; Dian Widyantini; Wiwit Agustina; Dany Luqyana Idris
Al-Kharaj: Journal of Islamic Economic and Business Vol. 8 No. 3 (2026): Vol. 8 No. 2 (2026): All articles in this issue include authors from 3 countrie
Publisher : LP2M IAIN Palopo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24256/kharaj.v8i3.11496

Abstract

The development of the capital market in Indonesia has increased the number of novice investors investing in stocks through various digital platforms. However, this increased participation has not been fully accompanied by a deep understanding of investment risk. Most previous studies have focused on quantitative risk measurement, while the meaning of risk based on investors' lived experiences is still relatively rare. This study aims to understand the meaning of risk in stock investment from the perspective of novice investors using a phenomenological approach. This study employed a qualitative method with a phenomenological approach. Informants were selected through purposive sampling technique, namely novice investors who have actively invested in stocks, have experienced both profits and losses, and are willing to share their investment experiences. Data were collected through in-depth interviews, observation, and documentation, then analyzed using phenomenological analysis stages through bracketing, horizontalization, grouping themes, and compiling textural and structural descriptions to uncover the essence of informants' experiences. The results show that risk is interpreted as an integral part of stock investment, not simply the potential for financial loss. Experience with losses, market fluctuations, and emotional stress shapes investors' perspectives to become more rational, cautious, and able to control their emotions when making investment decisions. Furthermore, the social environment and digital media influence risk perception, although personal experience is a key factor in developing a more mature understanding. This research contributes to the development of behavioral finance studies by demonstrating that the meaning of risk is a construct of investors' lived experiences. The research findings also offer practical implications for regulators, securities firms, and educational institutions in designing investment education programs that emphasize risk understanding and managing investor behavior.
Moonlighting Intention among Lecturers: The Impact of Career Dissatisfaction and Work Life Balance Dian Wahyuningsih; Dian Widyantini; Jati Kusuma
Jurnal Ilmiah Manajemen Kesatuan Vol. 13 No. 5 (2025): JIMKES Edisi September 2025
Publisher : LPPM Institut Bisnis dan Informatika Kesatuan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37641/jimkes.v13i5.3838

Abstract

The growing prevalence of moonlighting among university lecturers, driven by career dissatisfaction and work-life balance challenges, has raised concerns about its impact on academic performance and well-being. This study explores the factors influencing lecturers’ intentions to engage in secondary employment, focusing on the interplay between career dissatisfaction and work-life balance. Using a qualitative literature review methodology, the research synthesizes existing studies to examine psychological and structural drivers of moonlighting. The findings reveal that dissatisfaction with career advancement, inadequate compensation, and lack of recognition significantly predict moonlighting intentions, while work-life balance serves as both a negative predictor and a mediating factor between career dissatisfaction and moonlighting. This study uniquely contributes to theory by extending work-life balance frameworks to highlight emotional and mental strain as key drivers in academia, and to practice by offering actionable strategies for institutions. Higher education institutions should address these issues through improved compensation, career development opportunities, recognition, and flexible work policies to reduce moonlighting and enhance faculty satisfaction. These findings underscore the need for targeted interventions to support lecturers’ well-being and institutional productivity, providing a foundation for future research and policy development in academia.