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Otoritas Privat Penyedia Indeks Dan Stabilitas Pasar Berkembang: Guncangan Kelayakan Investasi MSCI, Stres Likuiditas IHSG, Dan Reformasi Transparansi Di Indonesia Kainde, Sandra J.R.; Polii, Harke Revo Leonard; Tumbel, Noldy Jerry; Loing, Rooswita
Management Studies and Entrepreneurship Journal (MSEJ) Vol. 7 No. 4 (2026): Management Studies and Entrepreneurship Journal (MSEJ)
Publisher : Yayasan Pendidikan Riset dan Pengembangan Intelektual (YRPI)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37385/msej.v7i4.10595

Abstract

Meningkatnya investasi berbasis indeks membuat penilaian penyedia indeks global berfungsi sebagai sinyal yang mengoordinasikan ekspektasi pelaku pasar lintas negara. Studi ini bertujuan menjelaskan bagaimana sinyal tata kelola indeks dari Morgan Stanley Capital International memicu guncangan kelayakan investasi yang berujung pada dislokasi harga dan stres likuiditas di pasar ekuitas Indonesia. Penelitian ini menggunakan pendekatan kualitatif dengan desain studi kasus, yang dioperasionalisasikan melalui penelusuran proses berbasis mekanisme. Data dihimpun dari dokumen primer dan materi kebijakan, bukti pasar Indeks Harga Saham Gabungan dan indikator perdagangan intrahari, serta artefak wacana dan komunikasi publik dari media dan komentar pasar yang dapat ditelusuri. Hasil menunjukkan bahwa reaksi ekstrem muncul ketika pengumuman indeks dipersepsikan sebagai penurunan kelayakan investasi, bukan penyesuaian teknis semata. Legitimasi eksternal memperkuat ekspektasi penyesuaian portofolio berbasis indeks sehingga tekanan jual bergerak serempak. Secara paralel, narasi risiko tentang transparansi kepemilikan, porsi saham beredar publik, dan kualitas pembentukan harga memperbesar ketidakpastian, mempercepat perilaku mengikuti arus, dan menipiskan likuiditas hingga memicu penghentian perdagangan sementara serta mendorong reform kebijakan. Temuan ini menegaskan perlunya penguatan transparansi, integritas pengawasan perdagangan, dan tata kelola data kelayakan investasi untuk meningkatkan ketahanan pasar berkembang.
Queues, Service Efficiency, and Social Proof: Multi-Site Non-Participant Observation of Mie Gacoan Loing, Rooswita; Karinda, Aldo Franco; Kowaas, Reimond; Polii, Harke Revo Leonard
Jurnal Informatika Ekonomi Bisnis Vol. 8, No. 1 (March 2026)
Publisher : SAFE-Network

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37034/infeb.v8i1.1383

Abstract

Queues in budget-priced food-service retail commonly arise when customer arrivals exceed service capacity during peak hours. This study examines queuing as a dual phenomenon: an indicator of service-process efficiency and a form of social proof that may shape customers’ decisions to join, remain in, or abandon a queue. Non-participant observations were conducted at three Mie Gacoan branches in North Sulawesi (Manado, Tondano, and Airmadidi) across nine weekend sessions (midday peak 11:00–13:30 WITA; evening peak 18:00–21:30 WITA). Data were compiled from field notes, time logs of estimated waiting times, service-flow mapping using a service blueprint, and anonymized documentation of service artefacts. The findings indicate a multi-stage queue, with bottlenecks shifting across the cashier, preparation, and handover phases. Manado exhibited the highest intensity (maximum queue length: 95 customers; maximum waiting time: 60 minutes) and the greatest number of abandonment events (19), whereas Tondano showed lower levels (62 customers; 42 minutes; 9) and Airmadidi fell in between (78 customers; 50 minutes; 13). Sessions with longer waiting times were associated with higher levels of abandonment; however, persistent queue density during the evening peak suggests that the queue did not subside to low levels over the observation period despite rising time costs. Overall, the results provide descriptive evidence consistent with P1–P3 concerning multi-stage queue dynamics, the influence of service-design variation on where congestion accumulates, and the trade-off between time costs and the social-proof value of queuing in customers’ decisions.