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The Herding Phenomenon in The Indonesian Stock Market: An Analysis of CSSD & CSAD and its Implications for Investors and Regulators Alfi Hikami Wibowo; Tri Kunawangsih; Mona Adriana S
Journal Research of Social Science, Economics, and Management Vol. 4 No. 9 (2025): Journal Research of Social Science, Economics, and Management
Publisher : Publikasi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59141/jrssem.v4i9.811

Abstract

This study aims to identify the presence of herding behavior in the Indonesian stock market throughout 2024, using the LQ45 Index as a market proxy. The analysis employs the Cross-Sectional Standard Deviation (CSSD) and Cross-Sectional Absolute Deviation (CSAD) models to measure the dispersion of stock returns under normal and extreme market conditions. The findings reveal no statistically significant evidence of herding behavior, although weak indications are observed during extreme negative market conditions. These results support the notion of a relatively efficient market, aligning with the Efficient Market Hypothesis (EMH). The CSSD and CSAD models are found to be complementary in analyzing investor behavior.
Crafting a Business Model for Students at Sekolah Kewirausahaan Bina Amanah Cordova (SKBAC) in Tangerang, Banten Nurhaida, Dida; Patriyasa, Mona Adriana; Lutfi, Muhamad Yudhi; Haq, Aqamal
Jurnal Pengabdian kepada Masyarakat (Indonesian Journal of Community Engagement) Vol 11, No 2 (2025): June
Publisher : Direktorat Pengabdian kepada Masyarakat Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22146/jpkm.93689

Abstract

Recognizing entrepreneurship as a key skill for the 21st century, educational programs are actively cultivating these abilities globally. Sekolah Kewirausahaan Bina Amanah Cordova (SKBAC) in Tangerang, Banten was established to address the challenges faced by graduates in the Pondok Jaticommunity. SKBAC aims to cultivate entrepreneurial skills among young individuals and small business owners. A community service initiative by Universitas Trisakti, utilizing Participatory Action Research, is employed to enhance both hard and soft skills, with the goal of bridging the gap between theoretical understanding and practical skills essential for entrepreneurial success. The training covers comprehensive business aspects such as initiating a business venture, market analysis, operational planning, business planning, marketing planning, and financial planning. The initiative has significantly increased participants’ knowledge. Participants’ feedback reveals a high success rate, with 95-100% agreement on the program’s effectiveness, showcasing its impact in delivering valuable insights and fostering confidence among participants, ultimately contributing to the development of a skilled and adaptable workforce, particularly in supporting economic growth.
Analysis of Transpolitan Program Development to Improve Superior Commodities Through the Role of BUMDes in Batu Betumpang Village, South Bangka Regency Maulita, Karil; Hariyanti, Dini; Adriana S, Mona
Dinasti International Journal of Economics, Finance & Accounting Vol. 6 No. 4 (2025): Dinasti International Journal of Economics, Finance & Accounting (September - O
Publisher : Dinasti Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.38035/dijefa.v6i4.4985

Abstract

This research analyzes the development of the Transpolitan Program aimed at enhancing leading commodities through the role of the Village-Owned Enterprise (BUMDes) in Batu Betumpang Village, South Bangka Regency. This village is one of the 52 National Priority Transmigration Areas with significant potential in agricultural, plantation, and fishery commodities, yet it faces challenges in optimization. The objectives of this study are to (1) analyze the influence of the Transpolitan Program on the development of leading commodities, (2) examine the role of BUMDes in the development of these commodities, (3) analyze the level of community financial literacy, and (4) formulate strategies and policy recommendations to strengthen the program. The method used is qualitative research with a descriptive approach. Primary data were collected through in-depth interviews and Focus Group Discussions (FGDs) with stakeholders, including the village government, BUMDes management, and community representatives. The collected data were analyzed using SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis and mapped onto a SPACE matrix to determine the strategic position. The research findings indicate that Batu Betumpang Village possesses significant strengths in the diversity and potential of its leading commodities, particularly rice, palm oil, and fisheries, supported by the national food self-sufficiency program. However, this development is hampered by serious structural weaknesses, such as the absence of an adequate irrigation dam, minimal road infrastructure, and a lack of local post-harvest processing facilities. The role of the BUMDes is identified as important in managing village assets and providing limited capital, but it is not yet optimal due to managerial constraints, a lack of innovation, and weak coordination. The community's financial literacy level shows foundational potential but is threatened by limited digital access and the risk of financial fraud. The SPACE matrix analysis places Batu Betumpang Village in the Aggressive quadrant, indicating that the village has strong internal strengths and external opportunities to proactively address existing weaknesses and maximize its growth potential.
The Herding Phenomenon in The Indonesian Stock Market: An Analysis of CSSD & CSAD and its Implications for Investors and Regulators Alfi Hikami Wibowo; Tri Kunawangsih; Mona Adriana S
Journal Research of Social Science, Economics, and Management Vol. 4 No. 9 (2025): Journal Research of Social Science, Economics, and Management
Publisher : Publikasi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59141/jrssem.v4i9.811

Abstract

This study aims to identify the presence of herding behavior in the Indonesian stock market throughout 2024, using the LQ45 Index as a market proxy. The analysis employs the Cross-Sectional Standard Deviation (CSSD) and Cross-Sectional Absolute Deviation (CSAD) models to measure the dispersion of stock returns under normal and extreme market conditions. The findings reveal no statistically significant evidence of herding behavior, although weak indications are observed during extreme negative market conditions. These results support the notion of a relatively efficient market, aligning with the Efficient Market Hypothesis (EMH). The CSSD and CSAD models are found to be complementary in analyzing investor behavior.
Training on Product Design and Branding for KSBI Entrepreneurs Ovy Noviati Nuraini Magetsari; Wahyuningsih; Mona Adriana Patriyasa; Kerstan Nathanael Djaja; Arinda Deswanti Pertiwi
Mattawang: Jurnal Pengabdian Masyarakat Vol. 6 No. 4 (2025)
Publisher : Yayasan Ahmar Cendekia Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35877/454RI.mattawang4430

Abstract

This community service program addresses the issue of low visual competitiveness among MSME products, particularly those produced by members of the Komunitas Sukses Berjamaah Indonesia (KSBI), who are predominantly homemakers engaged in culinary and fashion businesses. The focus of the activity is to strengthen product design and branding capacity, enabling MSME actors to develop attractive and consistent brand identities in the era of digital marketing. The program aims to enhance participants’ knowledge and skills in understanding branding concepts, designing logos, packaging, and visual promotional content, while also fostering confidence and collaborative learning within the community. The activities were conducted using the Participatory Action Learning System (PALS) approach through participatory planning, a one-day training session, hands-on practice using Canva and Pixellab, and pre-test and post-test evaluations. The results show an average knowledge improvement of 42 points, participants successfully produced various visual designs, and a new community structure—the “KSBI Mini Creative Team”—was formed as a platform for sustaining branding assistance within the community.
Optimalisasi Penjualan Produk Lokal Melalui Pelatihan Digital Marketing Berbasis Konten Kreatif Mona Adriana Patriyasa; Raden Ajeng Entaresmen; Ruth Clarisa
Jurnal Pengabdian Masyarakat Akademisi Vol. 5 No. 3 (2026)
Publisher : Jurnal Pengabdian Masyarakat Akademisi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54099/jpma.v5i3.1958

Abstract

This Community Service Program aimed to enhance the capacity of local entrepreneurs in optimizing product sales through creative content-based digital marketing. The program was conducted for the Bumi Panisan Ateng Miad Community in Kadumanggu Village, Bogor Regency, whose members are predominantly micro-enterprise owners facing challenges in digital literacy, online promotion, and the utilization of social media as a marketing platform. The program employed an educational approach consisting of needs assessment, counseling sessions, training, hands-on practice, mentoring, and evaluation through pre-tests, post-tests, observations, and participant questionnaires. The training materials covered digital entrepreneurship, digital marketing strategies, product branding, creative content development, the utilization of social media and online marketplaces, and practical training in designing promotional content using digital applications. The results demonstrated significant improvements in participants' competencies in digital marketing, creative content creation, business social media utilization, and marketing strategy development. This program is expected to serve as a sustainable community empowerment model through digital transformation to strengthen the competitiveness of local products.