Article Per Year (5 Year)
p-Index From 2021 - 2026
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This Author published in this journals
All Journal IPTEK Journal of Proceedings Series Journal of Ekonomics, Finance, and Management Studies
Aditya Sutantio
Institut Teknologi Sepuluh Nopember
Religion Computer Science & IT Economics, Econometrics & Finance

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Behavioral Finance as An Alternative Concept in Investor-Related Risk for Residential Projects : A Literature Review Aditya Sutantio; I Putu Artama Wiguna
IPTEK Journal of Proceedings Series No 6 (2017): The 3rd International Conference on Civil Engineering Research (ICCER) 2017
Publisher : Institut Teknologi Sepuluh Nopember

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (222.397 KB) | DOI: 10.12962/j23546026.y2017i6.3295

Abstract

Stakeholder  is a very important factor for project success. As part of external and the most influential project stakeholder, investor as a market agent, with embedded  needs, preferences and behavior might become critical project risks and should be identified and managed properly as a key project objective. This paper investigates previous studies to examine and to understand the mechanisms of investor’s economic behavior as the risk factor and its impact for the development of residential project. Traditional financial theory in the past decades generally emphasizes the rational model in investor’s decision-making without involving emotional aspect of behavior. Recently there are many scientists proposed  the theory of behavioral finance which combines insight from psychology and sociology into finance and investment with the market fundamental perspective. Based on the review, we conclude that behavioral finance can be considered as an alternative concept in assessing residential project risk especially in economic volatility.
Selection of Best Investment Alternatives on Vacant Land In Tanjungsari Area, Surabaya Using Highest and Best Use Analysis Ofel Simon; Ervina Ahyudanari; Aditya Sutantio
El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam Vol. 7 No. 1 (2026): El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam
Publisher : Intitut Agama Islam Nasional Laa Roiba Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47467/elmal.v7i1.10923

Abstract

Aims: This study was aimed to evaluates land-use alternatives using the Highest and Best Use (HBU) analysis, the Analytic Hierarchy Process (AHP), and utility theory as the basis for decision-making. Methodology and results: The findings indicate that Alternative 3, comprising a mixed-use composition of apartments (30%), offices (20%), hotels (15%), shophouses (15%), and SOHO units (20%), is the most suitable option. This alternative achieves a balance between the highest economic productivity (Rp 38,912,373.62/m²) and Sustainability (score of 2.89). The sustainability assessment covers three main dimensions: environmental, reflected in the reduction of approximately 12.5% carbon emissions and the allocation of 10% of land area to green open space (RTH); social, shown through improved accessibility, local employment opportunities, and public comfort; and economic, demonstrated by the enhancement of property value and long-term financial feasibility. From the physical aspect, attention should be given to soil type and drainage conditions on the site. Regulatory risks, initially categorized as high, can be minimized to a low level through the fulfilment of technical documentation and intensive coordination with relevant agencies (DPM PTSP, DLH, Department of Transportation, and others). Sensitivity analysis further identifies occupancy rates as the key determinant of financial success. Conclusion, significance and impact study: From the results of this study, it can be concluded that the best alternative is alternative 3 due to its high sustainability value. Not only alternative 3, but alternative 5 can also be considered due to its high sustainability value.
Co-Authors Ahyudanari, Ervina I Putu Artama Wiguna Ofel Simon