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How Financial Behavior and Locus of Control Shape Hospital Employees’ Investment Decisions Through Financial Literacy Agus Sukoco; Nevi R. Alfiasari; Erialdi Syahrial
International Journal of Business, Economics, and Social Development Vol. 7 No. 4 (2026): International Journal of Business, Economics, and Social Development (IJBESD)
Publisher : Rescollacom (Research Collaborations Community)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.46336/ijbesd.v7i4.1392

Abstract

Investment decisions are not determined by financial resources alone; they also reflect behavioral routines, perceived personal control, and the capacity to interpret financial information. This study examines how financial behavior and locus of control shape investment decisions through financial literacy among employees of Dr. M. Soewandhie Public Hospital in Surabaya, Indonesia. A quantitative explanatory design was applied to 95 full-time employees with at least one year of work experience, selected through purposive sampling. Four latent constructs were measured with 16 questionnaire items on a five-point Likert scale and analyzed using Partial Least Squares Structural Equation Modeling in SmartPLS 4. Financial behavior significantly increased financial literacy (β = 0.572, p < 0.001) but did not directly affect investment decisions (β = 0.179, p = 0.265). Locus of control directly affected investment decisions (β = 0.341, p = 0.008) but not financial literacy (β = 0.187, p = 0.103). Financial literacy significantly improved investment decisions (β = 0.486, p < 0.001) and mediated the relationship between financial behavior and investment decisions (β = 0.278, p = 0.001), whereas the indirect locus-of-control pathway was not significant. The model explained 52.4% of the adjusted variance in financial literacy and 81.8% in investment decisions. The findings indicate two distinct routes to investment choice: a knowledge-mediated behavioral route and a direct psychological-control route, supporting targeted financial education for hospital employees while recognizing the independent role of perceived control.
The Mediating Effect of Customer Engagement on Brand Awareness: Limitations Digital Packaging for Local Products Agus Sukoco; Manggala Wira Tamtama; Muhammad Isradi
ARRUS Journal of Social Sciences and Humanities Vol. 6 No. 5 (2026)
Publisher : PT ARRUS Intelektual Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35877/soshum5188

Abstract

This study aims to analyze the effect of digital packaging, consisting of QR Code Quality (X1), Augmented Reality Attractiveness (X2), Interactive Experience (X3), Perceived Information Usefulness (X4), and Technology Ease of Use (X5), on Brand Awareness (Y) of Bernad Tani products through Customer Engagement (Z) as a mediating variable. A quantitative approach with a causal design was applied to 100 respondents obtained through purposive and snowball sampling. Data analysis used Partial Least Square-Structural Equation Modeling (PLS-SEM). The results show that all independent variables have a positive and significant effect on Z, and Z significantly affects Y. The main findings indicate that the most dominant factors are Technology Ease of Use (X5) and QR Code Quality (X1) , meaning consumers highly prioritize simple access and technical reliability of QR Codes as the gateway to digital content. The research model demonstrates strong predictive capability, evidenced by an R² value of 0.824 for Z (82.4% variance explained by X1–X5) and an R² value of 0.694 for Y (69.4% variance explained by Z). Customer Engagement is proven to act as a partial mediator in all influence paths. Practically, Bernad Tani's management is advised to prioritize simplifying the technology interface and improving the physical quality of QR Codes on packaging to sustainably drive consumer engagement and brand awareness.
Bitcoin Price Prediction Analysis Using Arima And Garch Models Wanda Laksniyunita; Gunawan; Reswanda; Arasy Alimudin; Agus Sukoco
Journal of Management Vol. 2 No. 2 (2023): July - December
Publisher : Yayasan Pendidikan Belajar Berdikari

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

Bitcoin is the largest cryptocurrency by market capitalization and one of the most volatile financial assets, which makes forecasting its price both important and difficult. This study evaluates the ability of the Autoregressive Integrated Moving Average (ARIMA) model and the Generalized Autoregressive Conditional Heteroskedasticity (GARCH) family to predict the price and volatility of Bitcoin. Using daily data from 1 January 2018 to 30 June 2026, the models are estimated on a training sample of 2,737 observations and evaluated on a test sample of 365 days through rolling one step ahead forecasts. The Box and Jenkins procedure selects ARIMA(2,1,0) for the mean, and diagnostic tests reveal strong ARCH effects in its residuals. Among GARCH(1,1), GJR GARCH, and EGARCH specifications, the GARCH(1,1) t model provides the best fit. Out of sample, ARIMA reduces the price forecast error by only 0.28% relative to a random walk, the difference is not significant in the Diebold and Mariano test, and directional accuracy is 51.0%, no better than chance. In contrast, GARCH models forecast volatility significantly better than rolling and EWMA benchmarks, and combining ARIMA with GARCH(1,1) t produces 95% prediction intervals with correct coverage (94.2%), whereas ARIMA with constant variance does not. The results indicate that the Bitcoin price level is close to unpredictable, consistent with weak form efficiency, but that its risk is predictable, so ARIMA and GARCH are more useful for quantifying uncertainty than for forecasting the price itself.
Co-Authors Abdul Talib Bon Abdul Talib Bon Achda Vellanita Achmad Zakki Falani Adenanthera Lesmana Dewa Agung Prajuhana Agung Sihono Agus Dwi Sasono Ahmad Ariq Rabbani Alexander Machicky Mayestino Alfa Izza Ramadhani Amrun Rosyid Ananda Dwi Lestari Ani Wulandari Ani Wulandari Ani Wulandari Ani Wulandari Ani Wulandari Arasy Alimudin Arasy Rachman Augendra Bhukuth Bayu Airlangga Putra Bukhuth Augendra Che Zalina Zulkifli Che Zalina Zulkifli Cholifah Cholifah Cholil Hasyim Cornelius Candra Adi Wibowo Cut Ita Erliana Dahlan Abdullah Damarsari Ratnasahara Elisabeth Damarsari Ratnasahara Elisabeth Damasari Ratnasahara Elisabeth Damayanti, Elok Dani Hermanto Danur Ramadhani David Martin Denik Wahyu Nilasari Devi Yolanda Oktavia Dhiya Hanis Durrani Ditarosa Taurista Ditarosa Taurista Jatmika DR MUHAMMAD IKHSAN SETIAWAN ST MT Eka Septa Kurniawan Eka Septa Kurniawan Ekki Erlangga Elisa Sulistyorini Elok Damayanti Eni Yuli Siswati Eri Sarimanah Erialdi Syahrial Evi Wardah Saniyah Maulidya Fajar Prihesnanto Fazilat Kodirova Fetty Asmaniati Firman Ardiansyah Firman Ardiansyah Firman Ardiansyah Gunawan Halim, Paisal Hery Budiyanto I Gede Arimbawa I Nyoman Sudapet I Nyoman Sudapet I Nyoman Sudapet I Putu Artaya Iga Aju Nitya Dharmani Iswachyu Dhaniarti Joko Suyono Joko Suyono Kamisutara, Made Laras Nada Wahyu Atika Lia Delima Liem Gai Sin M Ikhsan Setiawan M. Ikhsan Setiawan M. Ikhsan Setiawan M. Ikhsan Setiawan M. Ikhsan Setiawan M. Khusni Mubarrok Malikus Sumadyo Manggala Wira Tamtama Mesakh Yunanto Moh. Saleh Mohd Adib Mohammad Razi Mohd Adib Mohammad Razi Mohd Haziman Bin Wan Ibrahim Muchayan, Achmad Muh. Barid Nizaruddin Wajdi Muh. Barid Nizaruddin Wajdi Muhammad Ashlyzan Razik Muhammad Ikhsan Setiawan Muhammad Ikhsan Setiawan Muhammad Ikhsan Setiawan Muhammad Ikhsan Setiawan Muhammad Ikhsan Setiawan Muhammad Ikhsan Setiawan Muhammad Isradi Muktamaria Muktamaria Mustika Putri Fatimah Mu’tamaria Mu’tamaria Nafasov Mirzomurod Mukhamadovich Nevi R. Alfiasari Nisfatur Rizki Nuning Kurniasih Nuning Kurniasih Nurul Fatmawati Nuryadi Nuryadi Nynda Fatmawati Octarina, Nynda Fatmawati Nyoman Sudapet Purwanto Purwanto Reswanda Reswanda T. Ade Rindi Rindi Rizal Bahaswan Rizky Witanty ROFIK JALAL ROSYANAFI Ronny Durrotun Nasihien, Ronny Durrotun Rully, Tutus Rusdianto Sesung Sengguruh Nilowardono Siti Nurlaila, Siti Siti Yunqanzun Soebandhi, Santirianingrum Sri Wiwoho Mudjanarko, Sri Wiwoho Sugeng Sugeng Sugito Muzaki Suhermin, Suhermin Syamsiah Badruddin Talisa Qamara Tridayanti, Hermien Tubagus Purworusmiardi Tubagus Purworusmiardi Tubagus Purworusmiardi Wahab Edi Saputra Wahyu Mulyo Utomo Wahyu Mulyo Utomo Wanda Laksniyunita Yeni Sofiana Yeni Sofiana Zulfikar Steifani Prayoga