Digital Investment Research Articles

Perilaku Kolektor Seni Indonesia Dalam Memilih Hic Et Nunc Sebagai Lokapasar NFT (Non-Fungible Token)

Public interest in cryptocurrencies and NFTs has increased since the Covid-19 pandemic, especially for artists and art lovers. The function of NFTs is to apply the usability of credits or royalties to a work. Hic et Nunc is an alternative marketplace that is known to be environmentally friendly compared to other Ethereum-based marketplaces that are known for high gas fees and ecological issues. Unfortunately, in the midst of its popularity, Hic Et Nunc was discontinued without any warning and its website is no longer accessible. This situation created sites that mirrored Hic Et Nunc such as objkt.com or henext.xyz. This research discusses the factors that make art collectors have loyalty to Hic Et Nunc by staying and not switching to the dominant market location. The research method was based on a descriptive qualitative approach with in-depth interviews with 3 informants, all of whom are active art collectors and loyal to the Hic Et Nunc marketplace. Based on consumer behaviour theory and market theory, the results stated that collectors are influenced by their work, social and cultural environment. Besides, the factors for choosing Hic et Nunc as a marketplace include being an alternative platform to the dominance of Ethereum, a digital investment medium and recognition by the social environment. Keywords: NFTs, Hic et Nunc, Collectors, Marketplaces

Factors Influencing Behavior Intention in Digital Investment Services of Mutual Fund Distributors Adoption in Thailand

There are various types of mutual fund distributors in Thailand that utilize technology to provide investment services to individual investors. These services can be accessed through mobile or internet banking, allowing investors to make transactions and invest in mutual funds at their convenience. This work aims to identify the factors that influence individual investors in Thailand to use digital investment services offered by brokerages. We have developed a conceptual model based on the Technology Acceptance Model (TAM2) and relevant literature on fintech and financial behavior, comprising seven variables and six hypotheses. Our research method involves a questionnaire survey of Thai investors and the use of partial least square structural equation modeling (PLS-SEM) for data analysis. The results show that individual investors’ intention to use digital investment services is significantly impacted by their perception of the usefulness of these services. Additionally, this intention is also influenced by other variables such as convenience, trust, and subjective norm, but not by perceived ease of use. This may be because most of our study’s participants are tech-savvy. Our findings provide insight into the perspectives and perceptions of Thai individual investors who have experiences of mutual fund investment.

The Peculiar Features of Fintech Development in Japan

This paper shows that Japan, despite being the most technologically and economically advanced country in the Asia-Pacific region, is demonstrating slower adaptation rates of fintech. The country is currently at fintech 1.0 stage and its banking system has only partially crossed the bank 4.0 threshold. Thus, overall, fintech in Japan is catching up with the levels of other developed and emerging economies even though the speed of the catch-up has increased in recent years. The paper highlighted the fact that development of fintech in Japan remains heterogenous in terms of market segments and major financial institutions promoting fintech services.The most developed segment of fintech in Japan is digital payments; neobanking and digital investment are raising in popularity even though they remain at the pre-maturing stages. Digitalisation of the financial sector is predominantly driven by the collaboration of large banks with fintech firms, which are establishing spillover effects and encouraging banks to further adopt digital technologies. The findings of this paper demonstrate that further promotion of DX in Japan’s financial sector will require future reforms in its corporate culture and regulatory environment. The problem of double shortages (the lack of financing for ICT and the lack of digital talents) shall also be addressed. The government has a big role to play in this process and needs to proactively stimulate cooperation among the private and financial sectors and fintech firms.

Binary Option: Legality in the Perspective of National and Islamic Law as a Manifestation of Continuous Legal Reform

Law is used as a guide and protector for every human being who lives in society, there are several kinds of applicable law in Indonesia, namely Indonesian national law and Islamic law. Amid the development of increasingly sophisticated digital technology, digital investment methods in the form of Binary Options have emerged which cause problems in people's lives. Then this research was conducted to determine the position of Binary Options in the perspective of national law and Islamic law so that the public knows and understands the legal basis for investing in the form of Binary Options. The writing of this journal uses normative juridical research methods. The results of the analytical study were obtained that in national law Binary Options as an illegal act which is part of an unlawful act, one of which is the result of not getting permission from the OJK (Financial Services Authority) so that it can be sentenced to criminal sanctions, while in the perspective of the Islamic law that Binary Options Judging from the way the game is played, it can be said that gambling is more precisely modern gambling, where gambling itself in Islam is strictly prohibited based on the verses of the Qur'an

Dynamic digital capabilities and supply chain resilience: The role of government effectiveness

Organizations in recent times are increasingly investing in building supply chain resilience following disruptions due to natural disasters, geo-political crises, and pandemics. A lack of government support has exacerbated the disruption to supply chains in some regions of the world. The positive influence of digitalization on social inclusion, government accountability, and creating a more open environment is well understood. Despite this, different countries have shown varying degrees of digital responsiveness during the pandemic as they attempted to deal with the effects of various COVID strains. The influence of government policies on the supply chain has not been examined in the literature so far and, hence, to address this research gap, we examine the interaction effect of government support effectiveness i.e., tax credits, interest deferral, digital investment, soft loans on dynamic capabilities i.e., digital adaptabilities and digital agilities and on supply chain resilience, using a multi-method approach. To understand how digital adaptability and agility improve supply chain resilience, we conducted 13 semi-structured interviews. Additionally, we pretested our measurement instrument using qualitative semi-structured interviews to validate our hypothesized relationships. We collected data at a specific point of time using a survey-based instrument (N = 203) to address our research questions. Based on data analyses of both the qualitative and survey-based data, our findings indicate that digital adaptability is an important driver of digital agility. Furthermore, the results indicate that government effectiveness is crucial to enhancing supply chain resilience by enhancing digital adaptability and agility. Our research makes some useful contributions to the dynamic capability view by enhancing theoretical understanding, of the role of government in building digital capabilities in uncertain times, to improve supply chain resilience. It also bridges the research gaps between macro and micro perspectives, as identified by management scholars. Lastly, we noted the weaknesses and limitations in the study and therefore we have offered multiple research directions forward, that could help researchers to further develop our current work.

‘The Black Pit:’ Power and Pitfalls of Digital FDI and Cross-Border Data Flows

AbstractIn today's data-driven economy, data have been dubbed as the new oil. Hence, a close relationship is shared between the increasing amounts of international investments and the increasing volumes of cross-border data flows. The aim of this article is to discuss the legal aspects of the new data paradigm in the international economy and place this discussion in the larger framework of globalization and the Liberal International Order. The central thesis of the article revolves around the crucial role played by domestic laws in the fragmentation of international investment law. The article further discusses the interplay between national and international legal landscapes and how the changing nature of the Liberal International Order is affecting the flow of data across borders. In this context, it also discusses the issues that are presented by a lack of any comprehensive international framework governing Cross-Border Data Flows. The need to update existing agreements and laws in order to factor in digital investment is also highlighted.

Financial and digital literacy effects on digital investment decision mediated by perceived socio-economic status

This research aimed to examine the effects of financial and digital literacy as a fundamental aspect that influence the decision in making digital investment which is mediated by perceived socio- economic status. Prior research of how socio-economic affects digital and financial literacy which influence investment decision making process has widely been discussed over the time. However, most studies were focused on ‘objective’ socio-economic status as a part of a measurable factor which affects literacy level. On the other hand, there is another key element that needs to be deepened further, that is ‘perceived’ socio- economic status. In addition, specific discussion on ‘digital’ investment decisions and how it is influenced by the perception of digital investors which correlated with digital and financial literacy factors are also still limited. The trend of digital investors has risen along with the growing financial technology market, especially for millennials. This study’s results will contribute to policy makers, digital investors, and especially for digital investment companies to formulate go-to-market strategy. This research used a convenient sampling and gathered data through an online questionnaire survey from 116 individual investors. Multiple regression using SmartPLS version 4.0 was applied to analyze the data and test the research model. The results show that financial literacy and digital literacy positively affects digital investment decision throughout perceived socio-economic status as a mediator that also has a positive impact to digital investment decision.

FDI During the First Covid-19 Year in a Developing Country

This study addresses the FDI flows into developing countries during the first COVID-19 pandemic year, regarding their resilience countries or not. From a realistic perspective, unlike previous crises, the Covid-19 pandemic is a health crisis affecting all of society, and secondly an economic crisis. We Used the percentage change in FDI flows between 2018-2019, and 2020 and other explaining indicators to illustrate the effects. the results revealed Covid-19 has affected FDI flows into developing countries severely by negatively affecting FDI flows to you through indices. Infrastructure, education, export, and death rate. In contrast, the positive impact on GDP, the workforce, openness, and trade in services. In terms of countries, the effects of Covid-19 are negative in terms of FDI flows in Asian countries, led by Macao while India and China resisted steadfastly as China focused on IT industries, while India focused on digital investment. The most vulnerable is Africa, which relies on FDI for its growth and development, despite Africa's lag in foreign direct investment flows, while the Central African region resisted due to oil exports, as well as Senegal due to investments in energy in 2020. Finally, the state of weakness also extended to a large extent, Latin American countries appear to have had a history of grappling with structural development challenges before the onset of the pandemic, adding to its impact. Keywords: FDI, Covid-19, developing countries DOI: 10.7176/EJBM/15-2-01 Publication date: January 31 st 2023

Exploring the effect of digital transformation on Firms’ innovation performance

The influence of digital industry and firm digitization on enterprise innovation has emerged as a critical research topic. To assess the impact of digital transformation on enhancing innovation output, we propose a game model of two organisations investing in digital transformation, analyze the index of enterprise digitalization level with Python tools for text analysis, and employ a fixed effect model. The findings indicate that firm digitalization and the level of regional digital industry innovation can both promote firm innovation. However, the regional digital industry innovation level can have a negative moderating effect on the firm digitalization innovation effect. Furthermore, the impact of firm digitalization on innovation is more visible in digital-related service industries. In other industries, the regional digital industry innovation level has a greater impact on innovation promotion. Due to firms' free-riding tendency in technology adoption, this study shows that the higher the level of digital industrialization in the region where the firm is located, the lower the marginal innovation efficiency of the firm's digital investment. When the level of development of digital industrialization in the region where a firm is located is higher, the "competitive effect" improves the marginal innovation efficiency of firms in adjacent areas, implying that digital industrialization has a spatial spillover effect. The relevant robustness test further verifies the conclusion of the empirical analysis. As a result, the digital industry should be given more attention and financial support.

МІЖНАРОДНА ПРАКТИКА СТИМУЛЮВАННЯ РОЗВИТКУ СУБ’ЄКТІВ БІЗНЕС-МЕНЕДЖМЕНТУ

In order to increase the productivity and impact of business on the well-being of people and the sustainability of cities, state authorities and local self-government bodies pay objective attention to unlocking inefficient indicators, because some subjects of business management have turned out to be less successful and signal the feasibility of implementing programs to improve their business management Management assessment of benefits, costs and risks will help to determine business initiatives with the greatest potential, when business management subjects professionally use proposals from government bodies, consultants, other interested parties regarding monitoring the effectiveness of business activities, digital investments, renewal of human capital, allocation of resources , better business ethics. Analytical studies have shown that up to 87% of small and medium-sized enterprises in Ukraine meet the requirements of the Methodology and Analysis of Regulatory Impact; the number of draft regulatory acts increased to 2,712; in these projects, working groups, on the basis of a correctly identified cause, search for optimization of solving problems in business; in total, over four years, the State Regulatory Service conducted 1,023 consultations for small and medium-sized business entities; the number of "address" consultations for small and medium-sized enterprises increased to 178; central and local executive bodies up to 85% and 92%, respectively, conducted M-testing as a tool for measuring the impact of regulation on small and medium-sized businesses. Obstacles to the development of small and medium-sized enterprises include the complexity or uncertainty of legislation (49.2%); corruption (44.6%); other reasons. Taking into account the results of theoretical and analytical studies, entrepreneurship is offered: to take part in events. which are defined in the priorities for small and medium-sized business entities, including in state aid programs, microcredits; participate in support programs for entrepreneurs; actively use useful information services. In the conditions of digitalization, the development of the culture of entrepreneurship and knowledge, the quality of digital advertising activity is offered to entrepreneurship.

Liderstvo poslovne organizacije u digitalnom svetu - iskustva i izazovi na nivou Evropske unije

In the modern world of digital technologies, in parallel with the ongoing business and organizational changes and the wave of transformation in the way of doing business, leadership through digital tools is emerging as one of the new paradigms and leadership styles. As a concept of recent times, the leadership of a business organization in the digital world is a direct consequence of understanding technological changes as rooted in an evolutionary, interactive and permanent development cycle (so-called digital Darwinism). As a kind of reconfiguration of the traditional concept of leadership (leadership in an offline environment), leadership through digital tools takes place in an environment that implies knowledge, adoption and effective use of the latest technological solutions, as fundamental mediators (intermediaries, interfaces) in daily work, as well as tracing on that basis business direction of the organization. According to the above, the primary goal of the work is the analysis of the leadership of a business organization in the light of digital transformation processes and all the challenges that it entails, with special reference to the situation at the level of the European Union. Namely, we are talking about the fact that the biggest digital opportunity on European soil lies in the very transformation of the existing industry and business operations of the company, and we have in mind the starting premise according to which it also represents a huge potential for generating growth and raising the level of competitive performance of the union itself. At the same time, disruptive business models and improved production processes strengthened by digital investments will create new opportunities for the EU and on the world market. For the purposes of data interpretation and general facts, and their empirical validation, the compilation method and the descriptive method will be used in the work.

Revisit cost-benefit analysis in energy infrastructure: Current methodology, practice, and limitations toward digital investment

Revisit cost-benefit analysis in energy infrastructure: Current methodology, practice, and limitations toward digital investment

Драйвери розвитку економіки Німеччини в контексті мегатренду диджиталізації

Digitalization is one of the key modern drivers of influence on the development of the economies of both individual countries and the world economy as a whole. Accordingly, the megatrend of digitalization determines both opportunities and challenges for national economies with the most significant focus on the largest economies of the countries to which the German economy belongs. The aim of the article is to analyze the features of the complex of actions of the part of the Federal Republic of Germany to support digitalization in the traditional sectors of the economy. The article discusses the features of transformation under the influence of digitalization in the traditional sectors of the German economy, which leads to significant changes in the driving forces of the economic model of the Federal Republic. It is noted that the German economy faces a number of short-term challenges, including the long-term consequences of the COVID-19 pandemic and the Russian-Ukrainian war. In particular, under the influence of exogenous factors, the inflation rate in Germany increased to 7.9% in 2022 from 3.1% in 2021. These crisis challenges have put a certain strain on various sectors of the German economy, creating new challenges for economic development. It is noted that the Federal Government of Germany applies an integrated approach aimed at stimulating both economic development at the short-term stage and long-term growth, based on investments in renewable energy and digitalization. It is emphasized that this balanced approach within the framework of the public policy has contributed to reducing Germany’s dependence on existing exogenous challenges, also to the active emergence of Germany as a leader in the world economic transformation. The key directions of the public policy of digital transformation of Germany are allocated. In addition, the main challenges of digital transformation for the national economy of the Federal Republic of Germany are emphasized. The proposed research can be useful for specialized scientists and analysts, research centers, authorities of both the State and the local levels, and international organizations. The prospects of this study are seen in the analysis of cases of leading national economies on digital transformation and their adaptation in Germany.

Аудит как инструмент снижения комплаенс-рисков участников цифровой инвестиционной экосистемы

The article is devoted to the problem of developing mechanisms to increase the sustainability of the digital investment ecosystem, in which the main participants are investors, borrowers or other persons attracting investments, the Bank of Russia as a regulator, a professional organization. The purpose of this study is to identify ways to trust the system of digital investment platforms by developing financial compliance methods for ecosystem participants. In the course of the study, methods of statistical analysis, generalization and grouping of compliance risk assessment, ecosystem modeling with the allocation of functions and actions of its participants were used. The ecosystem approach was used as a basic approach, which allows revealing interactions and assessing the impact of the risks of one participant on the stability of the ecosystem as a whole. The study found that participants are exposed to high compliance risks that can lead to a system default and cause systemic risks of a chain of bankruptcies due to defaults, changes in rules and restrictions. The level of compliance risk for crowdfunding participants was 27%, and the analysis of operators’ declarations identifies 23 types of risks that an investor takes on and which carry the threat of loss of invested capital. High risks and their diversification led to the conclusion that it is necessary to build investment compliance control procedures into the investment ecosystem, which can be carried out by audit organizations as assurance tasks. The results of the study are of practical importance for the development of the methodological apparatus of compliance in the process of carrying out activities by audit organizations and the development of a system for regulating the activities of investment ecosystems by the Bank of Russia.

Модернизация инвестиционной технологии выпуска и оборота цифровых финансовых активов

The article analyzes Russian investment practices to demonstrate the possibilities for updating the functions of accounting and registration entities (depositories, registrars) and operational-investment firms (ope­rators of financial, investment platforms, information systems for issuing digital financial assets). The focus is made on modernizing technology for digital financial assets, which has stagnated for over two years. The article aims to offer recommendations for improving the issuance and trading of digital financial assets while complying with current Russian financial market regulations. The limitations posed by these regulations have hindered the development of financial support processes for businesses seeking external private investment sources. The research follows a materialistic positivist approach, using diverse scientific methods like statistics, structure analysis, comparisons, and empirical studies. Based on the analysis of operational data from Russian financial companies, the authors propose ways of optimizing their presence in the market. Additionally, the article proposes the establishment of a unified register of investment assets and a depository registration platform under the auspices of the Bank of Russia. It outlines the key components and functional objectives of digi­tal investment and accounting technology within the prudential investment blockchain of the Bank of Russia, which is recommended for use in conjunction with the aforementioned entities. The article proposes establishing an investment marketplace, Investuslugi.ru, within a regulatory sandbox framework and as a subsidiary joint-stock company linked to the Russian Direct Investment Fund, overseen by the Bank of Russia. This marketplace would offer open internet access to issuers and investors and facilitate automatic transactions involving existing and prospective digital investment assets in their best interests.

THE ANALYSIS OF THE FACTORS DETERMINING DIGITAL INVESTMENT OF INDIVIDUALS IN THE BALTIC AND NORDIC COUNTRIES

Digital investment is becoming more and more popular and accessible not only to legal entities, but also to individuals. The article examines the factors that determine successful digital investment – financial literacy and digital literacy. Research aim – to analyse the factors determining the digital investment of individuals in the Baltic and Nordic countries. Two countries from each region have been selected for the analysis: Latvia and Lithuania from the Baltic countries, and Finland and Sweden from the Nordic countries. Research methods: the analysis of the scientific literature; the analysis of statistical data; systematisation and generalisation.
 It has been identified that, during the analysed period, the household investment rate varied unevenly, but in Sweden it stood out the most significantly – it was about twice as high as in Finland and in the Baltic countries. The lowest household investment rate was in Latvia. It has been observed that the share of individuals with basic digital skills was significantly higher in the Nordic countries than in the Baltic countries. Although Finland's real GDP (gross domestic product) per capita was significantly higher than in the Baltic countries, the analysis revealed that the dynamics of household investment rates was not as high as in Sweden, only slightly higher than in the Baltic countries. Arguably, Sweden had the highest digital investment opportunities in terms of household investment rates and the share of individuals with basic digital skills.

REGULASI PEMERINTAH DALAM KEAMANAN PENYELENGGARAAN PERDAGANGAN CRYPTO ASSET SEBAGAI INSTRUMEN INVESTASI DIGITAL

Abstract Cryptocurrency is a digital currency system where users use digital payments for business activities carried out which function as standard currency. The type of research in this paper is legal research, namely finding the truth of coherence, whether the rule of law is in accordance with legal norms and whether there are norms in the form of orders or prohibitions that are in accordance with legal principles, and whether a person's actions are in accordance with legal norms (not just according to legal rules). or legal principles. Government regulations regarding Crypto Asset are regulated in laws and regulations. In an effort to control and maintain the security of Crypto Asset trading, it is regulated in Bappebti Regulation No. 5 of 2019 and its amendments. To guarantee legal certainty and protection for Cryptocurrency investors, as a form of legal protection for Cryptocurrency investors, all Cryptocurrency marketplaces must fulfill all the requirements set out in Bappebti rules by collecting all requested files, prioritizing the principles of proper business management, such as prioritizing the rights of futures exchange members to obtain open value and ensure that consumers remain protected. Keywords: Crypto Asset, Digital Investment, Regulation, Security, Trading.

Show me the money: how do we justify spending health care dollars on digital health?

Show me the money: how do we justify spending health care dollars on digital health?

How do family firms respond strategically to the digital transformation trend: Disclosing symbolic cues or making substantive changes?

Digital transformation (DT) has been identified as one of the major trends that is changing society and business. Firms respond strategically to the DT trend in different ways. The results of this study, based on Chinese listed companies, demonstrate that, as family firms have stronger needs for legitimacy and are sensitive about investing in uncertain projects, they are more likely than their non-family counterparts to disclose more symbolic cues about DT while investing less substantively in DT, that is, they emphasize DT in their annual reports to a greater extent while making fewer digital investments. We also investigated firm- and provincial-level contingencies. Specifically, we show that family firms located in provinces with better digital infrastructure are more likely to disclose symbolic cues about DT and invest substantively in DT. Family firms that have completed the intergenerational succession process are shown to be more likely to disclose symbolic cues about DT.

Keputusan Investasi Digital dan Transaksi Non Tunai Investor Muslim

Muslim investors invest for financial gain in the future. The current investment decision determines the profit or loss received. The purpose of the study was to determine how much financial literacy and risk tolerance influence in determining digital investment decisions and to find out how much financial literacy and risk tolerance influence in conducting non-cash transactions during the covid-19 pandemic for Muslim investors. The research was conducted on Muslim investors in Sukoharjo Regency. Determination of the sample using purposive sampling with the number of respondents as many as 110. Data collection was done using a questionnaire distributed to Muslim investors who have done investment activities. Testing the model using Path Analysis with SmartPLS Software by performing Individual Item Reliability Test, Internal Consistency Test, and Discriminant Validity Test. The test results show that the financial literacy of Muslim investors has no effect on investment decisions and non-cash transaction decisions. Meanwhile, risk tolerance affects investment decisions and non-cash transaction decisions. The investment decisions of a Muslim are not based on their financial knowledge but on the current economic situation.