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Critical Review of The Psychology of Money by Morgan Housel: A Behavioral Perspective on Financial Decision-Making Teguh Setiawan
Jurnal Keuangan dan Perbankan Vol. 22 No. 01 (2025): Jurnal Keuangan Dan Perbankan, Volume 22, No.1, Desember 2025
Publisher : STIE Indonesia Banking School

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35384/jkp.v22i01.837

Abstract

This article presents a critical review of Morgan Housel’s bestselling book, "The Psychology of Money", through the lens of behavioral finance. Housel argues that financial outcomes are driven more by human behavior and psychological factors than by technical knowledge or intelligence. The review evaluates key themes in the book—such as risk, luck, greed, patience, compounding, and the emotional dimensions of money-while linking them to foundational theories in behavioral economics by scholars like Kahneman, Tversky, Thaler, and Shefrin. Although the book lacks formal empirical methodology, its narrative-driven approach effectively communicates complex financial ideas to a broad audience. The review also highlights the pedagogical value of the book and its relevance to personal finance education. Limitations regarding academic rigor and global applicability are discussed. Overall, the review underscores the importance of incorporating behavioral perspectives into financial decision-making.
Business Ethics Violations in State-Owned Enterprises: Integrating Fraud Triangle and Stakeholder Theory Teguh Setiawan; Gita Riaulina Sitorus; Henny Lestari Br Sembiring; Aqila Parahita Putri; Anak Agung Gde Satia Utama
Jurnal Riset dan Aplikasi: Akuntansi dan Manajemen Vol. 8 No. 2 (2026): Jurnal Riset dan Aplikasi: Akuntansi dan Manajemen
Publisher : Jurusan Akuntansi Politeknik Negeri Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33795/jraam.v8i2.004

Abstract

Purpose: This study analyses the factors causing and the impacts of business ethics violations at a state-owned enterprise.Method: a qualitative descriptive case study was conducted using secondary data from audit reports, court decisions, and media coverage.Results: findings show that pressure, opportunity, and rationalisation drive ethical violations, causing state losses and corporate reputational damageNovelty: Integrating the fraud triangle theory and stakeholder theory offers a new lens for understanding misconduct in a state-owned enterprise.Contribution: The study supports stronger ethical governance and accountability mechanisms to prevent future ethical violations in Indonesia’s state-owned enterprises. Abstrak: Pelanggaran Etika Bisnis Dalam BUMN: Integrasi Fraud Triangle Dan Stakeholder TheoryTujuan: Penelitian ini bertujuan menganalisis faktor penyebab dan dampak pelanggaran etika bisnis pada perusahaan milik negara.Metode: Penelitian menggunakan studi kasus deskriptif kualitatif dengan data sekunder berupa laporan audit, putusan pengadilan, dan pemberitaan media.Hasil: Hasil menunjukkan tekanan, peluang, dan rasionalisasi menjadi pemicu utama pelanggaran etika yang menyebabkan tekanan, peluang, dan rasionalisasi menjadi pemicu utama pelanggaran etika yang menyebabkan kerugian negara dan menurunkan reputasi perusahaan.Kebaruan: Integrasi fraud triangle theory dan stakeholder theory juga memberikan perspektif baru dalam memahami pelanggaran etika pada perusahaan milik negara.Kontribusi: Penelitian ini berkontribusi dalam memperkuat tata kelola etika dan akuntabilitas di perusahaan milik negara untuk mencegah pelanggaran di masa depan.