cover
Contact Name
Muhammad Dian Ruhamak
Contact Email
dianru@unik-kediri.ac.id
Phone
+62816562515
Journal Mail Official
risk@unik-kediri.ac.id
Editorial Address
-
Location
Kota kediri,
Jawa timur
INDONESIA
RISK : Jurnal Riset Bisnis dan Ekonomi
Published by Universitas Kadiri
ISSN : 27223361     EISSN : 27223108     DOI : 10.30737/risk
Core Subject : Economy, Science,
RISK : Jurnal riset bisnis dan ekonomi adalah publikasi akademik yang fokus pada penelitian ilmiah di bidang ekonomi dan bisnis. Jurnal ini bertujuan untuk menyajikan temuan penelitian terbaru, analisis, dan pemahaman mendalam tentang berbagai aspek ekonomi dan bisnis. Jurnal ini mencakup berbagai tema yang relevan dengan ekonomi dan bisnis, seperti ekonomi makro dan mikro, manajemen, keuangan, pemasaran, ekonomi industri, kebijakan ekonomi, dan lain sebagainya. Jurnal ini mencakup penelitian empiris, teoritis, atau kombinasi dari keduanya.
Articles 101 Documents
Mapping the Research Landscape of SME Digitalization: A Bibliometric Analysis Rizkita, Marsya Aulia; Fauzi, Muchamad Rizky; Nurrahma, Aisyah Asri; Hermawan, Agus; Handayati, Puji
RISK : Jurnal Riset Bisnis dan Ekonomi Vol. 6 No. 1 (2025): Mei 2025
Publisher : Universitas Kadiri

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30737/risk.v6i1.6351

Abstract

Small and Medium Enterprises (SMEs) are crucial drivers of national economies, particularly in developing countries like Indonesia. The COVID-19 pandemic significantly disrupted SME operations, yet also accelerated the adoption of digital technologies as a strategy for resilience and recovery. This study aims to map the research landscape of SME digitalization through a bibliometric analysis using data extracted from the Scopus database for the period 2020–2025. Employing a systematic literature review (SLR) and PRISMA methodology, 96 open-access articles in the field of Business, Management, and Accounting were selected and analyzed. The results reveal a sharp increase in digitalization-related research post-pandemic, with central themes including business models, sustainability, industry 4.0, and digital strategy. Network, overlay, and density visualizations generated via VOS viewer indicate that while digital transformation is a well-established topic, emerging themes such as digital maturity, governance, and internationalization present new research directions. This study contributes by offering a comprehensive overview of existing literature, highlighting conceptual linkages, and identifying future research avenues that integrate digital innovation, crisis resilience, and strategic development in SMEs.
Cultural Heritage as a Branding Strategy: How Malang’s SMEs Leverage Local Identity for Authentic Marketing Gustiawan, Wahyu Dede; Sudarmiatin
RISK : Jurnal Riset Bisnis dan Ekonomi Vol. 6 No. 1 (2025): Mei 2025
Publisher : Universitas Kadiri

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30737/risk.v6i1.6352

Abstract

This study examines the strategy of using cultural heritage as a branding tool by MSMEs in Malang, with a focus on building brand authenticity through the integration of local identity. The qualitative method of case studies was applied to 7 MSMEs in the batik, culinary, and handicraft sectors that actively raised cultural elements such as Malangan batik motifs meaning Majapahit history, the narrative of Malang's meatball philosophy, and the cultural destination of the Jodipan Colorful Village. The findings revealed that MSMEs have succeeded in increasing the perception of brand authenticity by 35-40% through: (1) collaboration with local communities in validating historical narratives, (2) incorporation of tangible cultural symbols (product design) and intangible (folklore), and (3) limited adaptation of digital technologies such as augmented reality (AR) and micro-influencer content. However, the main challenge lies in the dichotomy between the depth of cultural narratives and the algorithmic demands of digital platforms—viral content on TikTok conveys only 12-18% of key cultural information, well below 58% of website content. This research introduces a layered storytelling model as a solution, where cultural narratives are spread in stages from concise content on social media to in-depth articles on specialized platforms. Policy implications include recommendations for Cultural Authenticity Label certification by local governments and AR/VR technology subsidy schemes for MSMEs. 
Trust in the Digital Era: Analysis of the Influence of Reputation and e-WOM on Fashion Purchasing Decisions on Shopee Suwardani, Eka; Mahendri, Wisnu
RISK : Jurnal Riset Bisnis dan Ekonomi Vol. 6 No. 1 (2025): Mei 2025
Publisher : Universitas Kadiri

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30737/risk.v6i1.6353

Abstract

This study aims to analyze the influence of reputation and electronic word of mouth on purchasing decisions for fashion products on Shopee, by considering the role of consumer trust as an intervening variable. Respondents involved in this study were 105 Shopee consumers who had purchased fashion products. The method used in this study is Structural Equation Modeling (SEM) with the help of Smart PLS software to test the influence between variables. The results of the study indicate that reputation does not affect consumer trust, and reputation does not affect purchasing decisions either directly or through consumer trust as an intervening variable. However, electronic word of mouth is proven to have a significant influence on purchasing decisions and electronic word of mouth has a significant influence on purchasing decisions through consumer trust. These findings provide insight into the importance of eWOM in influencing purchasing decisions on e-commerce platforms, and show that reputation does not play a major role in influencing trust and purchasing decisions on the Shopee platform in fashion products.
The Role of Leadership and Organizational Culture in Driving Digital Transformation in indonesia SMEs: A Systematic Literature Review Gustiawan, Wahyu Dede; Pramana, Andy Chandra; Widyaningrum, Santi; Hermawan, Agus; Handayati, Puji
RISK : Jurnal Riset Bisnis dan Ekonomi Vol. 6 No. 1 (2025): Mei 2025
Publisher : Universitas Kadiri

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30737/risk.v6i1.6354

Abstract

Digital transformation has become a strategic imperative for small and medium-sized enterprises (SMEs), especially in emerging economies like Indonesia. While much attention has been placed on technology adoption, the internal organizational factors—particularly leadership and culture—remain insufficiently examined, despite their critical role in shaping digital readiness and sustainability. This study aims to systematically investigate how transformational leadership and organizational culture interact to influence digital transformation in Indonesian SMEs. It also explores how dynamic capabilities and contextual conditions contribute to digital maturity and resilience. A systematic literature review (SLR) was conducted based on 48 peer-reviewed articles published between 2018 and 2023 in Scopus Q1/Q2 journals. The articles were selected using keyword combinations related to “digital transformation,” “leadership,” “organizational culture,” “dynamic capability,” “TOE Framework,” “SMEs,” and “Indonesia.” Thematic content analysis was used to extract and synthesize core themes. Four dominant themes emerged: (1) transformational leadership enables digital vision, motivation, and adaptive change; (2) adaptive organizational cultures support innovation and reduce resistance; (3) dynamic capabilities—sensing, seizing, transforming—act as strategic mechanisms; and (4) the Technology–Organization–Environment (TOE) framework provides a useful structure for assessing digital readiness. These factors are interdependent and collectively shape the success of SME digital transformation. The study integrates multiple theoretical perspectives—Transformational Leadership Theory, Organizational Culture Theory, Dynamic Capabilities Theory, and the TOE framework—into a comprehensive model of SME digital transformation. It offers practical guidance for leaders and policymakers to design more holistic and context-sensitive digital strategies that extend beyond mere technology adoption
The Impact of Lifestyle, Social Media, and Hedonic Shopping Motivation on Gen Z's Consumer Behavior: The Mediating Role of Emotional Shopping Fitri, Desya Rahma; Puspita, Shandy
RISK : Jurnal Riset Bisnis dan Ekonomi Vol. 6 No. 1 (2025): Mei 2025
Publisher : Universitas Kadiri

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30737/risk.v6i1.6355

Abstract

The research investigates the link between lifestyle, social media, and the desire for hedonic shopping on the Generation Z’s Consumptive Behavior in Jakarta, with emotional shopping as a mediating variable. A stratified random sampling technique was employed, and data were gathered utilizing internet-based questionnaires distributed via WhatsApp and Instagram. The statistical analysis was performed with the aid of the SPSS (Statistical Program for Social Sciences). The results show that lifestyle, social media, and hedonic shopping motivation have a significant direct effect on emotional shopping. However, these variables do not directly affect consumptive behavior. Furthermore, the mediating role of emotional shopping is identified as a mediate variable linking lifestyle, social media, and hedonic shopping motivation with consumptive behavior. The outcomes underscore the significance of emotional aspects in comprehending the purchasing behavior of individuals from Generation Z and provide insights for marketers aiming to engage this demographic more effectively.
The Effect of Endorsement Korean, Brand Trust, and Social Media Marketing on Consumer Trust in Scarlett Products: The Moderating Role of Online Buying Experience Sani, Della Tiara; Putri, Liestyaningrum Rahmadhani Wisnu
RISK : Jurnal Riset Bisnis dan Ekonomi Vol. 6 No. 1 (2025): Mei 2025
Publisher : Universitas Kadiri

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30737/risk.v6i1.6356

Abstract

This study aims to determine how online shopping experience affects the relationship between Korean endorsement, brand trust, and social media marketing with consumer trust in scarlett products. This study uses an online survey method with a sample of 200 respondents who have purchased scarlett products online. The results of the study indicate that online shopping experience moderates the relationship between Korean endorsement, brand trust, and social media marketing with consumer trust in scarlett products. This study also found that Korean endorsement, brand trust, and social media marketing have a positive influence on consumer trust in scarlett products. The independent variables studied are Korean Endorsement, Brand Trust, Brand Trust, and the moderating variable is Online Shopping Experience, while the dependent variable is Consumer Trust. Data analysis was carried out with the help of Smart PLS software with a purposive sampling technique. The results of this study can be used as a reference for companies in increasing consumer trust in scarlett products through effective marketing strategies.
Earnings Management in Property Companies Seen from Financial and Control Factors Sadzili, Rohan As; Suhartini, Dwi
RISK : Jurnal Riset Bisnis dan Ekonomi Vol. 6 No. 1 (2025): Mei 2025
Publisher : Universitas Kadiri

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30737/risk.v6i1.6358

Abstract

This study analyzed financial distress, cash holdings, profitability, and internal control’s moderating role on earnings management in Indonesian property/real estate firms (2019–2023). Utilizing secondary data from 21 IDX-listed companies, variables were measured via Debt Service Coverage Ratio (financial distress), cash-to-assets ratio (cash holdings), Return on Assets (profitability), Modified Jones Model (earnings management), and an aggregate loss dummy (internal control). Moderated regression analysis (SPSS 28.0) showed: (1) Financial distress and cash holdings negatively impacted earnings management, while profitability increased it; (2) Internal control moderated only financial distress, with no effect on cash holdings or profitability. Financial distress incentivizes earnings manipulation, whereas strong liquidity and profitability deter such practices. Internal control mitigates distress-related risks but lacks efficacy in liquidity/performance contexts. These findings highlight the necessity of robust governance and transparent reporting, especially for financially distressed firms, to reduce opportunistic accounting. Regulators should prioritize oversight mechanisms targeting financial distress, while acknowledging liquidity and profitability as natural safeguards. The study advances understanding of internal control’s conditional role, offering actionable insights for policymakers and corporate leaders in high-risk sectors. Future research should explore sector-specific external factors (e.g., market volatility) to refine governance frameworks.
The Influence of Herding Behavior on Cryptocurrency Investment Decision Among Investors in Bandung Raya Area Zhafira, Aulia; Pramono, Tangguh Dwi
RISK : Jurnal Riset Bisnis dan Ekonomi Vol. 6 No. 1 (2025): Mei 2025
Publisher : Universitas Kadiri

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30737/risk.v6i1.6359

Abstract

This study explores how herding behavior influences cryptocurrency investment decisions among investors in Bandung Raya area. The study is driven by the growing involvement in digital asset markets and the psychological biases influencing investor actions. Using a quantitative method, data were collected from 157 purposively selected respondents through questionnaires and analyzed with IBM SPSS Statistics 27. The analysis included validity and reliability testing, descriptive statistics, classical assumption tests, correlation test and simple linear regression to assess the impact of herding behavior. The results reveal a significant and positive relationship between herding behavior and investment decisions, evidenced by a strong correlation coefficient of 0.863. Investors tend to follow the actions of others and market trends without conducting independent evaluations. This reflects a strong psychological inclination toward social conformity, particularly in high-volatility environments like the cryptocurrency market. The findings suggest that behavioral factors substantially shape investment choices, often outweighing rational decision-making. In conclusion, herding behavior emerges as a key factor in cryptocurrency investment decisions, highlighting the dominance of group influence. The study recommends enhancing financial literacy and behavioral finance education to foster better-informed investment practices.
The Influence of Heuristics on Investment Decision Making in Cryptocurrency Assets (A Study of Retail Investors in the Bandung Raya Area) Mulyadi , Rangga Dhimas Radithya; Lastari , Hidya Indira; Chaniago , Harmon
RISK : Jurnal Riset Bisnis dan Ekonomi Vol. 6 No. 1 (2025): Mei 2025
Publisher : Universitas Kadiri

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30737/risk.v6i1.6360

Abstract

In recent years, the cryptocurrency market in Indonesia has grown rapidly. Along with this trend, investor behavior is frequently influenced by cognitive shortcuts known as heuristics. The purpose of this study is to look at how heuristic biases such as representativeness, overconfidence, anchoring, availability bias, and the gambler's fallacy affect retail investment decisions in the Bandung Raya area. A quantitative approach with a survey method was used to collect data from 139 respondents, which were then analyzed using statistical techniques such as correlation tests and simple linear regression. The findings show that heuristic biases have a significant impact on investment decisions, emphasizing the significance of raising investor awareness of psychological factors that may interfere with rational judgment when making cryptocurrency investments.
Influence Quality Service and Price on Customer Satisfaction with Customer Trust as a Moderating Variable (Case Study of Shopee Xpress Jakarta Application Customers) Albani, Yusuf; Burhan, Aditya
RISK : Jurnal Riset Bisnis dan Ekonomi Vol. 6 No. 1 (2025): Mei 2025
Publisher : Universitas Kadiri

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30737/risk.v6i1.6361

Abstract

This study aims to analyze the effect of service quality and price on customer satisfaction of Shopee. Xpress users in Jakarta, with customer trust as a moderating variable. This study uses a quantitative approach with data collection techniques through online questionnaires to 201 respondents who have used Shopee. Xpress services more than twice. The data analysis technique uses Structural Equation Modeling with Partial Approach Least Square (PLS-SEM) through SmartPLS 4 software. The results of the study indicate that service quality and price have a positive and significant effect on customer satisfaction. Customer trust also has a significant direct effect on satisfaction, but does not significantly moderate the relationship between service quality and price with customer satisfaction. These findings emphasize the importance of improving service quality and adjusting prices that are commensurate with the value of benefits, as well as building trust as an important element in increasing customer satisfaction in digital-based delivery services.

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