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Journal : Cakrawala : Management Science Journal

Impact of Behavioral Bias, Price Volatility, and Market Capitalization on Cryptocurrency Purchase Decisions in Indonesia Putra, Bagja Rahma; Lestari, Fitrina; Kharisma
CAKRAWALA : Management Science Journal Vol. 2 No. 3 (2025): Cakrawala: Management Science Journal - September
Publisher : Yayasan Edukasi Cakrawala Nusantara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.63541/8ehdka53

Abstract

This study investigates how market capitalization, price volatility, and behavioral biases affect decisions to buy cryptocurrencies. Because of its decentralized structure and extreme volatility, the cryptocurrency market frequently affects investment choices through psychological elements, including loss aversion, overconfidence, and herd mentality. This study uses a quantitative methodology to analyze data from the nine most traded cryptocurrencies using independent t-tests, multiple linear regression, and simple linear regression. According to the study's findings, decisions to buy cryptocurrencies are significantly positively influenced by herd behavior and overconfidence, as shown by high volatility, but not significantly by loss aversion. Furthermore, it has been demonstrated that price volatility significantly affects herd behavior, meaning that investors are influenced to follow the majority lead when prices fluctuate significantly. However, the degree of herd behavior is not affected by market capitalization, suggesting that psychological elements like herd behavior are more impacted by general market conditions than by market capitalization size. These results highlight how crucial it is to comprehend the psychological aspects of cryptocurrency market decision-making, since doing so can offer a better understanding of investor behavior and the workings of this extremely unpredictable market.
Implementing Green Logistics in Agricultural MSMEs in Sukabumi, West Java, Indonesia: Its Impact on Operational Efficiency and Environmental Sustainability Eprilya Putri, Nabila; Lestari, Fitrina; Mirdan Faris, Riyan
CAKRAWALA : Management Science Journal Vol. 2 No. 3 (2025): Cakrawala: Management Science Journal - September
Publisher : Yayasan Edukasi Cakrawala Nusantara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.63541/7bs41j09

Abstract

Green Logistics (GL) presents a strategic framework for enhancing operational efficiency and environmental sustainability two key imperatives in modern supply chains. However, its implementation among MSMEs, particularly in agriculture and in developing countries, remains both understudied and underutilized. This study explores the extent to which GL practices influence Operational Efficiency and Environmental Sustainability within agricultural MSMEs in Sukabumi, West Java, Indonesia. Adopting a mixed methods approach, quantitative data were collected from 76 MSME actors and analyzed using SEM PLS, while qualitative insights were gathered through open ended survey questions. Results show that GL significantly impacts Operational Efficiency (β = 0.593) and Environmental Sustainability (β = 0.485), with Efficiency acting as a partial mediator (β = 0.406). The R² values of 0.633 and 0.352 suggest strong predictive validity for the structural model. The qualitative data reinforce these findings by highlighting real world constraints limited access to eco-friendly tools, a lack of technical knowledge, and insufficient training. While geographically localized, the study provides transferable insights into the broader barriers and potential of GL adoption among MSMEs in emerging economies. It also affirms the relevance of the NRBV and GSCM frameworks when adapted to rural and resource constrained contexts.