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General Multidisciplinary Research Journal
ISSN : 30472008     EISSN : 30470439     DOI : https://doi.org/10.69693/general
General Multidisciplinary Research Journal: is published by Global Sustainability Research Institute to help academics, researchers, and practitioners to disseminate their research results. Business is a blind peer-reviewed journal dedicated to publishing quality research results in the fields of business and engineering. All publications in the Business Journal are open access, allowing articles to be available online for free without any subscription. General Multidisciplinary Research Journal publishes papers regularly twice times a year, in January and July. All publications in the General journal are open, allowing articles to be available online for free without a subscription. General Multidisciplinary Research Journal is intended as a medium for scientific studies of research results, thoughts, and critical-analytic studies regarding research in the fields of Business, Education, Social Science, religion, Public Health, law, and other fields of science. This is part of the spirit of disseminating knowledge resulting from research and thoughts for service to the wider community. In addition, it is also a source of reference for academics in the field of multidisciplinary science.
Arjuna Subject : Umum - Umum
Articles 37 Documents
Investment Risk Management for Retail Investors in Indonesia's Digital Capital Market: A Systematic Literature Review Muhamamd Arif; Muhamamd Syaipudin
General Multidisciplinary Research Journal Vol. 3 No. 2 (2026)
Publisher : Global Sustainability Research Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.63453/general.v3i2.89

Abstract

Introduction: The rapid development of digital technology has transformed investment activities by providing retail investors with easier access to capital market services through digital platforms. While digitalization has increased market participation and investment efficiency, it has also introduced new challenges, including higher market volatility, information overload, behavioral biases, and technology-related risks. These conditions highlight the growing importance of investment risk management as a strategic approach to support rational and sustainable investment decisions among retail investors in Indonesia.Methods: This study employed a qualitative literature review to examine investment risk management in the digital era. The literature search was conducted using the Scopus, Web of Science, and Google Scholar databases. Articles published between 2019 and 2024 were considered to capture recent developments in digital investment and financial technology. The inclusion criteria comprised peer-reviewed journal articles published in English that discussed investment risk management, digital investment platforms, financial literacy, behavioral finance, or technology adoption among retail investors. Conference papers, book chapters, review articles, non-peer-reviewed publications, and studies unrelated to the research objectives were excluded. Following the screening and eligibility assessment, 45 articles were included in the final review. The selected literature was synthesized using a descriptive qualitative approach involving data reduction, comparison of findings across studies, thematic categorization, synthesis of recurring patterns, and interpretation to identify the principal themes and strategies related to investment risk management in the digital era.Results: The findings indicate that digital transformation has significantly changed the investment behavior of retail investors by increasing accessibility, transaction efficiency, and information availability. However, digitalization has also intensified investment risks associated with market uncertainty, behavioral factors, and information quality. The review further reveals that portfolio diversification, financial literacy, and the utilization of digital technologies such as robo-advisors and real-time portfolio monitoring are essential strategies for mitigating investment risks.Conclusion and Suggestion: Investment risk management in the digital era should be implemented through an integrated approach that combines portfolio diversification, financial literacy, and the effective use of digital technology. Retail investors should strengthen their analytical capabilities and critically evaluate digital information before making investment decisions. Future studies are recommended to employ quantitative or mixed-method approaches to examine empirically the relationships among digital financial literacy, behavioral biases, technology adoption, and investment risk management across different groups of investors in Indonesia.
Digital Investment and the Indonesian Capital Market: A Review of Current Evidence Binda Rahma Cahyani; Wahyu Febri Ramadhan Sudirman; Mohd Winario
General Multidisciplinary Research Journal Vol. 3 No. 2 (2026)
Publisher : Global Sustainability Research Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.63453/general.v3i2.90

Abstract

Introduction:The rapid advancement of information technology has accelerated the digital transformation of Indonesia’s financial sector, particularly in capital market investment activities. The emergence of digital investment platforms, online brokerage services, and financial technology applications has increased retail investor participation by improving accessibility, efficiency, and affordability. Methods:This study employed a qualitative literature review approach. Relevant studies were identified through searches in Scopus, ScienceDirect, and Google Scholar using the keywords digital investment, capital market, financial technology, online trading, retail investors, and Indonesia. The review included peer-reviewed journal articles published between 2020 and 2025. Inclusion criteria comprised studies focusing on digital investment adoption, investor behavior, financial technology, and capital market development, while duplicate articles, conference abstracts, editorials, and studies unrelated to investment activities were excluded. Following the screening process, 30 eligible articles were selected and analyzed using descriptive thematic analysis to identify recurring themes, opportunities, challenges, and research gaps. Results:The findings indicate that digital investment has significantly increased retail investor participation, improved market accessibility, enhanced trading efficiency, and supported financial inclusion in Indonesia. Nevertheless, the rapid expansion of digital investment has also heightened cybersecurity risks, information asymmetry, behavioral biases, and speculative investment practices that may influence investment decisions and market stability.Conclusion and Suggestion:Digital investment has become an important driver of Indonesia’s capital market development. However, sustainable growth requires strengthening financial literacy, enhancing investor protection, improving cybersecurity measures, and implementing adaptive regulatory frameworks. Future studies are recommended to employ empirical methods to examine the causal relationships between digital investment adoption, investor behavior, financial literacy, and capital market performance in Indonesia.
Price Changes of Essential Food Commodities in Traditional Markets Ayu Apprrilliani Selvia; Aisyah Dita Ariani; Wahyu Febri Ramadhan Sudirman
General Multidisciplinary Research Journal Vol. 3 No. 2 (2026)
Publisher : Global Sustainability Research Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.63453/general.v3i2.91

Abstract

Introduction:The rapid advancement of information technology has accelerated the digital transformation of Indonesia’s financial sector, particularly in capital market investment activities. The emergence of digital investment platforms, online brokerage services, and financial technology applications has increased retail investor participation by improving accessibility, efficiency, and affordability. Methods:This study employed a qualitative literature review approach. Relevant studies were identified through searches in Scopus, ScienceDirect, and Google Scholar using the keywords digital investment, capital market, financial technology, online trading, retail investors, and Indonesia. The review included peer-reviewed journal articles published between 2020 and 2025. Inclusion criteria comprised studies focusing on digital investment adoption, investor behavior, financial technology, and capital market development, while duplicate articles, conference abstracts, editorials, and studies unrelated to investment activities were excluded. Following the screening process, 30 eligible articles were selected and analyzed using descriptive thematic analysis to identify recurring themes, opportunities, challenges, and research gaps. Results:The findings indicate that digital investment has significantly increased retail investor participation, improved market accessibility, enhanced trading efficiency, and supported financial inclusion in Indonesia. Nevertheless, the rapid expansion of digital investment has also heightened cybersecurity risks, information asymmetry, behavioral biases, and speculative investment practices that may influence investment decisions and market stability. Conclusion and Suggestion:Digital investment has become an important driver of Indonesia’s capital market development. However, sustainable growth requires strengthening financial literacy, enhancing investor protection, improving cybersecurity measures, and implementing adaptive regulatory frameworks. Future studies are recommended to employ empirical methods to examine the causal relationships between digital investment adoption, investor behavior, financial literacy, and capital market performance in Indonesia.
Improving Elementary Students' Knowledge of Clean and Healthy Living Behaviors Through Health Education at Elementary School Students Muthia Nabilla; Erlinawati Erlinawati
General Multidisciplinary Research Journal Vol. 3 No. 2 (2026)
Publisher : Global Sustainability Research Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.63453/general.v3i2.97

Abstract

Introduction: Clean and Healthy Living Practices (PHBS) are an essential strategy for improving public health, particularly among elementary school students, who should develop healthy habits from an early age. Limited knowledge and awareness regarding PHBS may increase the risk of health problems in the school environment. This study aimed to evaluate the effectiveness of PHBS health education in improving students’ knowledge and awareness at SD Negeri 005 Langgini, Bangkinang Kota District.Methods: This study employed a pre-experimental one-group pretest–posttest design involving 50 elementary school students from SD Negeri 005 Langgini. The intervention consisted of health education through lectures, discussions, counseling, and practical demonstrations of proper PHBS practices, including correct handwashing techniques. Students’ knowledge was measured using structured pre-test and post-test questionnaires. Data were analyzed descriptively by comparing the percentage of knowledge scores before and after the intervention.Results: The health education program improved students’ knowledge and awareness regarding clean and healthy living practices. The average knowledge score increased from 68% in the pre-test to 85% in the post-test, representing an absolute increase of 17 percentage points (approximately 25% relative improvement). Students actively participated throughout the educational sessions and demonstrated a better understanding of proper handwashing, waste disposal, and maintaining personal and environmental hygiene.Conclusion: PHBS health education effectively improved elementary school students’ knowledge and awareness of clean and healthy living behaviors. The intervention increased the average knowledge score by 17 percentage points, indicating that school-based health education is an effective approach to promoting healthy behaviors among elementary school students.
Estimasi Tourism-Led Growth Hypothesis di Kabupaten Manggarai: Studi Peran Pariwisata Dalam Pertumbuhan Ekonomi Yohanes Vianney; Kordianus Larum; Yosefina Ferda Lendo
General Multidisciplinary Research Journal Vol. 3 No. 2 (2026)
Publisher : Global Sustainability Research Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.63453/general.v3i2.98

Abstract

Introduction: Tourism is considered one of the strategic sectors capable of stimulating regional economic growth through increased economic activities, employment opportunities, and local revenue. However, empirical evidence regarding the validity of the Tourism-Led Growth Hypothesis (TLGH) at the regional level, particularly in Manggarai Regency, remains limited. This study aims to examine the applicability of the TLGH in Manggarai Regency by integrating quantitative and qualitative approaches. Methods: This study employed a mixed-method approach. The quantitative analysis utilized the Vector Error Correction Model (VECM) based on time-series data obtained from Statistics Indonesia (BPS), while the qualitative analysis was conducted through in-depth interviews with tourism business actors and local policymakers to strengthen the interpretation of the econometric findings. Results: The findings reveal a long-run equilibrium relationship between tourism development and economic growth in the service sector. Tourist arrivals and tourism-generated local own-source revenue (PAD) have positive and significant effects on the service sector's Gross Regional Domestic Product (GRDP) in both the short and long run. Furthermore, the Granger causality test supports the validity of the Tourism-Led Growth Hypothesis in Manggarai Regency. Qualitative findings further indicate that tourism has generated tangible economic benefits for local MSMEs and accommodation providers, although the distribution of these benefits remains constrained by inadequate infrastructure, limited human resource capacity, and uneven tourism development policies. Conclusion and Suggestion: The study confirms that tourism serves as a significant driver of regional economic growth in Manggarai Regency, supporting the validity of the Tourism-Led Growth Hypothesis. To maximize tourism's contribution to inclusive and sustainable regional development, policymakers should prioritize infrastructure improvement, strengthen community-based tourism human resource development, optimize tourism revenue management, and reinforce local institutional capacity to ensure a more equitable distribution of tourism benefits.
Komparasi Dampak Sukuk dan Obligasi Negara terhadap Pembangunan Berkelanjutan di Indonesia Sofia Lutfiyati; Muhammad Amin; Lise Purnamasari
General Multidisciplinary Research Journal Vol. 3 No. 2 (2026)
Publisher : Global Sustainability Research Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.63453/general.v3i2.100

Abstract

Introduction: Sustainable development requires substantial financing, particularly to support SDG 8 (economic growth) and SDG 9 (infrastructure), the two goals most relevant to sukuk and government bonds as state financing instruments. This study compares the impact of sukuk and government bonds Indonesia's two main capital market financing instruments, which differ in structure, mechanism, and investor baseon sustainable development during 2020–2024, a period reflecting post-pandemic financing dynamics with complete official data availability.Methods: Using five years of secondary time-series data from DJPPR, the Ministry of Finance, and BPS, this study applies Ordinary Least Squares (OLS) regression to assess the effect of sukuk and bond issuance and outstanding values on GDP (economic growth indicator) and the National Road Network (infrastructure indicator).Results: Outstanding sukuk significantly and positively affect GDP, while sukuk issuance, bond issuance, and outstanding bonds show no significant effect on GDP or the National Road Network. Simultaneously, sukuk and bonds significantly influence GDP but not the National Road Index.Conclusion and suggestion: Sukuk outperform government bonds as a strategic instrument for financing Indonesia's sustainable development, especially in driving economic growth, though both instruments' limited effect on infrastructure suggests a need for better allocation of financing proceeds. Future research should extend the study period, add macroeconomic control variables, and use broader infrastructure indicators.
Faktor Yang Mempengaruhi Rendahnya Minat Kepemilikan Sertifikasi Halal: Studi Pada UMKM Kuliner di kabupaten bogor Fadhilatunisa Dwi Salsabila; Wildan Munawar; Afiatin Dewi
General Multidisciplinary Research Journal Vol. 3 No. 2 (2026)
Publisher : Global Sustainability Research Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.63453/general.v3i2.101

Abstract

Introduction: Indonesia sebagai negara dengan populasi Muslim terbesar di dunia seharusnya menjadi produsen utama produk halal, namun kenyataannya masih banyak pelaku usaha, termasuk UMKM sektor kuliner di Kabupaten Bogor, yang belum memiliki sertifikasi halal meskipun pemerintah telah mewajibkannya melalui Undang-Undang Nomor 33 Tahun 2014 tentang Jaminan Produk Halal. Penelitian ini bertujuan untuk menganalisis faktor-faktor yang memengaruhi rendahnya minat kepemilikan sertifikasi halal di kalangan pelaku UMKM kuliner Kabupaten Bogor, serta mengidentifikasi faktor yang paling dominan memengaruhinya.Methods Penelitian ini menggunakan metode kuantitatif dengan pendekatan deskriptif. Sampel penelitian berjumlah 100 responden yang dihitung menggunakan rumus Lemeshow, dengan data dianalisis menggunakan teknik Principal Component Analysis (PCA) dengan bantuan aplikasi SPSS.Results: Hasil penelitian menunjukkan terbentuknya tiga faktor utama, yaitu: (1) Pemahaman Regulasi, Prosedur, dan Pelaksanaan Sertifikasi Halal; (2) Pengetahuan Produk dan Kesadaran Halal; serta (3) Persepsi Waktu, Biaya, dan Dampak Sertifikasi terhadap Usaha. Faktor utama, yaitu pemahaman terhadap regulasi dan prosedur teknis sertifikasi halal, merupakan faktor yang paling dominan memengaruhi rendahnya minat kepemilikan sertifikasi halal.Conclusion and suggestion: Penelitian ini diharapkan agar pemerintah mempercepat birokrasi sertifikasi, memperluas sosialisasi program Sertifikasi Halal Gratis (SEHATI), serta menyediakan pendampingan teknis bagi pelaku UMKM.

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