Digital Investment Research Articles

The dynamic relationship between BTC with BIST and NASDAQ indices

Abstract The significance of digital investment has grown substantially, enabled by advancing technology, which provides digital monitoring of investment instruments. Consequently, analyzing these instruments has become imperative. In particular, investors are inclined to compare new investment opportunities with well-established global stock markets, seeking to capitalize on their advanced financial literacy. This study aims to employ econometric analysis to explore the dynamic relationship between Bitcoin and the BIST100 and NASDAQ 100 indices. The time frame for this investigation spans from January 1, 2017, to March 10, 2022. Stationarity was confirmed through unit root tests (ADF, PP, KPSS, ZA, FADF, and FFFFF ADF) for the subsequent utilization of Autoregressive Conditional Variance Models. Additionally, Generalized Autoregressive Conditional Variance and Dynamic Conditional Correlation Tests were conducted. Results from the Dynamic Conditional Correlation Test model revealed no statistically significant dynamic conditional correlation between Bitcoin and BIST 100. Conversely, a negative and significant dynamic conditional correlation emerged between Bitcoin and NASDAQ 100. Investors should not only monitor the market but also review academic studies before making investment decisions. In this regard, this study holds significant importance. The study is limited to the BTC, BIST, and NASDAQ indices. Researchers interested in the topic can increase the dataset to further enrich the study.

Faktor-Faktor Yang Mempengaruhi Minat Mahasiswa untuk Berinvestasi di Pasar Modal Syariah Melalui Platform Investasi Digital

This research aims to determine the factors that influence the interest of KH.Abdul Chalim Islamic Boarding School students' interest in investing in the Sharia Capital Market through the Digital Investment Platform. This research is a type of qualitative research with a case study approach. This research uses primary data obtained from observations and interviews and tertiary data obtained from the student affairs bureau. The data collection techniques used are observation, interviews and documentation. The data analysis technique used is data triangulation.The results of this research are: Factors that influence student interest at the KH Islamic Boarding School. Abdul Chalim's desire to invest in the Sharia Capital Market through the Digital Investment Platform comes from internal factors including interest, desire and belief. Interest that comes from within the individual, such as applying theories learned in college, being inspired by Korean drama films and role models. Desire to hope for something that interests you, such as wanting to gain profits from investment results. Belief is an individual's belief in something that has qualities and benefits.

The Role of Digital Investment in Economic Growth in Iraq

The economic developments on the global economic stage have contributed to a qualitative shift in economic fields. Many advanced economies now rely on modern technology, with digital economy taking the lead in these countries. This necessitates those developing countries in general, including Iraq, follow the lead of advanced economies in developing their capacities in the knowledge economy. This is crucial for sustaining their economic resources as they transition from rentier economies, which depend on a single sector and have revenues linked to the external world, making their economies vulnerable to fluctuations and instability. The research is based on the hypothesis that the emergence of the new digital investment is a result of the evolution of information and communication technology. It affects both those who possess information technology and those who lack it, consequently influencing the Gross Domestic Product (GDP). The aim is to shed light on the characteristics of this new digital investment, and to present and analyze the key outcomes of investing in the digital economy. The focus is on indicators of digital access, as well as measuring the relationship between indicators of investment in the digital economy and economic growth.

Development Trajectory of Blockchain Platforms: The Role of Multirole

Understanding the development trajectory of digital platforms is central to digital platform management. We develop a parametric model that investigates the development trajectories of blockchain platforms, accounting for the feedback between blockchains’ utility change and people’s adoption and abandonment behavior. We consider a typical blockchain participant to simultaneously play three roles on the platform, user, investor, and laborer, each contributing to blockchains’ multi-faceted utility: providing service for transaction/interaction, providing a medium for digital investment, and providing workspace for online labor. The model describes a three-phase development trajectory for blockchain platforms: a chaotic initial stage, a rapid growth stage, and a mature stage of stable market cycles. The model was used to match 112 token price series, demonstrating robust performance across different fitting setups and outperforming existing models. The study identifies two temporal parameters, the time delay in quitting the platform and the holding time of the platform’s token, that significantly differentiate blockchains’ development trajectories. We extend the model to study forking events; results suggest that fork launch time is more important than forking amplitude in influencing the main chain’s subsequent development and that forking can increase the exposure of the forked platform.

Crowdfunding platforms in Russia: Methodological tools for agents’ investment decision-making

Modern conditions brought forth digital investment platforms, which have offered new possibilities of raising capital by entrepreneurs. The paper aims to rank these platforms to meet the information and analytical needs of agents in investment decision-making. Methodologically, the paper relies on the ecosystem approach, as well as propositions of digital, collaborative and platform economics. The paper applies the methods of grade rating, coefficient and correlation analysis. The evidence comes from public reports on investment activities of 68 crowdfunding platform operators and other information available on their websites. To rank the platforms, the study considers the factors related to investment activity (competitiveness, market activity, scaling up, etc.) and risks (financial insolvency, credit and litigation risks, etc.) and then designs a method for a rating-based assessment of investment activity and risks. The paper provides a multivariate assessment of investment activity and risks including systemic ones and specific for certain types of crowdfunding. The study presents the ranking of 68 crowdfunding platforms, identifies types of platforms according to the criteria “investment activity – risks”, as well as the criteria of security of investment (Co-Fi, Peers.money, Potok.Digital, InveStore, InvestGO) and association with a high risk. The method can be useful for investors and borrowers to justify their financial decisions; for the Bank of Russia to perform control and supervision procedures; and for professional community to outline directions for the development and promotion of the crowdfunding in Russia.

Digital Silk Road; Is it an Anti-Globalization Backlash? Is it Chinese-Style Globalization?

Digital activities of the Belt and Road initiative called the "digital Silk Road" in the post-COVID-19 outbreak era and initially introduced in 2015 as the "information Silk Road," have come under fire. Finding out whether China's technical improvement, which has become evident in many areas thanks to the Digital Belt and Road initiative project, is a backlash against globalization or a new wave of it done in a Chinese form is the main challenge of this study. Data centers—the backbone of the Belt and Road Initiative—undersea fiber optic cables, 5-G cellular data networks, and Turkish investments in these sectors have all been essential in this regard. This method explores China's technological development from the four modernization periods to the present through a chronological descriptive description. This study should be viewed as significantly contributing to the literature because it provides a system-level examination of the digital Belt and Road endeavor.

Investment Decision Making in Digital Business Using Tsukamoto Fuzzy Logic

This research investigates the application of Tsukamoto's Fuzzy Logic in investment decision making in a digital business context. By integrating human knowledge and numerical data, this method seeks to overcome the challenges of complexity and uncertainty that often arise in the fast-changing digital business environment. Through analysis of case studies and interviews with industry practitioners, this study identifies the steps for implementing effective Tsukamoto Fuzzy Logic, including the formation of fuzzy variables, determination of membership functions, application of fuzzy rules, and defuzzification processes. The results of Tsukamoto's Fuzzy Logic calculations are applied to digital investment cases, providing an overview of investment quality based on various input variables. This research shows that this method can produce a holistic and informative approach in making investment decisions. In addition, the diverse participation of practitioners in various regions provides valuable insights in dealing with the uncertainties of digital business. In this challenging digital era, this research provides guidance for decision makers in dealing with the complexities of a dynamic business environment.

Selection of Digital Investment Instruments Applying the Multi-Objective Optimization by Ratio Analysis Method

Choosing a digital investment instrument to make digital investments is not easy because behind the expected profits are also accompanied by balanced risks. Therefore, not a few novice investors are confused to determine the choice of digital investment instruments that are most appropriate for use in the long term. In this study the authors applied the decision support system method (Multi-Objective Optimization by Ratio Analysis) to facilitate the decision-making process in choosing digital investments for novice investors. The results of this study indicate that Alternative A4 (Trading) with a value of 0.17097 has the highest value compared to other alternatives, so Alternative A4 (Trading) is the most recommended digital investment instrument for use by novice investors.

The nexus of sustainable development, blue financing, digitalization, and financial intermediation

Financial intermediaries are essential for advancing circular and blue economies by providing critical financial support to sustainable ventures. However, sustainability efforts may lack persistence without appropriate incentives. This paper aims to investigate the impact of lending to blue and sustainable firms, as well as increased digitalization, on the performance of the banking sector. Using a comprehensive sample of banks from twenty-seven member states of the European Union over 11 years, our findings reveal a positive association between banking performance and blue lending, sustainable credit, and digitalization. Specifically, we observe that an increase in banks' financing to blue and other sustainable firms, along with higher investments in digitalization, leads to a rise in the net interest margin. Similarly, the solvency risk will be reduced when the exposure to sustainable firms is higher. Likewise, investment in digitalization will lower banking risks. These empirical results manifest significant implications for sustainable development, blue economy firms, and the banking sector at large.

Impact of primary to secondary care data sharing on care quality in NHS England hospitals

Health information exchange (HIE) is seen as a key component of effective care but remains poorly evidenced at a health system level. In the UK National Health Service (NHS), the ability to share primary care data with secondary care clinicians is a focus of continued digital investment. In this study, we report the evolution of interoperable technology across a period of rapid digital transformation in NHS England from 2015 to 2019, and test association of primary to secondary care data-sharing capabilities with clinical care quality indicators across all acute secondary care providers (n = 135 NHS Trusts). In multivariable analyses, data-sharing capabilities are associated with reduction in patients breaching an Accident & Emergency (A&E) 4-h decision time threshold, and better patient-reported experience of acute hospital care quality. Using synthetic control analyses, we estimate mean 2.271% (STD+/−3.371) absolute reduction in A&E 4-h decision time breach, 12 months following introduction of data-sharing capabilities. Our findings support current digital transformation programmes for developing regional HIE networks but highlight the need to focus on implementation factors in addition to technological procurement.

Promoting decarbonization in the power sector: How important is digital transformation?

The application of digital technologies to help improve new energy integration and generation efficiency is critical to decarbonizing the power sector. Many studies have explored the drivers of carbon emissions in the power sector, but the role of digitalization has been overlooked. To investigate digitalization's impact on electricity production's carbon intensity, this paper measures the level of digitalization in the electricity sector for 93 countries in 2010 and 2015–2019. A two-way fixed effects model was constructed to analyze the panel data. According to the empirical findings, digitalization can significantly reduce the carbon intensity of power generation. Optimizing the energy structure is an important mechanism for decarbonization. It is found that the energy structure enhances the carbon reduction effect of digitalization in the power sector. The impact of digitalization on reducing carbon intensity increases with the quantity of renewable energy. The heterogeneity analysis results suggest that digitalization's impact on reducing carbon emissions is stronger in nations with higher levels of digital investment, digital service investment, industrial proportion, or industrial electricity compared to residential electricity. The research offers empirical evidence and targeted policy recommendations for promoting decarbonization and digital transformation of the power sector.

The Digital Economy Promotes Rural Revitalization: An Empirical Analysis of Xinjiang in China

The digital economy now plays a pivotal role in reshaping the global economic structure and optimizing the allocation of resources. With the popularization of digital technology in rural areas, the impact of the digital economy on rural development is also increasing. In order to explore the impact of the digital economy on rural revitalization in Xinjiang of China, this study constructed an indicator system based on the data from 14 prefectures or cities (of the same administrative level as the prefectures) in Xinjiang from 2013 to 2019. The entropy weight method and coupling coordination degree (CCD) model were used to analyze the digital economy level (DEL) and rural revitalization level (RRL) in Xinjiang, and the relationship between the digital economy and rural revitalization was emphasized. Finally, the obstacle degree model was used to reveal the factors that hinder the coupled and coordinated development between the digital economy and rural revitalization. The research shows that: (1) Xinjiang’s DEL generally increased steadily, and digital economy development in 14 prefectures or cities had strong spatial heterogeneity. At the same time, Xinjiang’s RRL showed similar characteristics. (2) The CCD between the two systems was increasing, and the regional distribution features of high-level CCD were in northern Xinjiang and low-level CCD in southern Xinjiang. The coupling coordination was in its infancy, but the interaction between the two systems was increasing, and the development prospect was broad. (3) Overall, the main obstacle affecting the CCD between the digital economy and rural revitalization was the digital infrastructure among four factors, including digital investment, thriving businesses, social etiquette and civility, and effective governance. The degree of this obstacle varied in different phases of coupling coordination development.

Aspects of Developing A Methodology for Managing Digital Financial Assets

The purpose of the study is to highlight the key aspects necessary for the formation of a methodology for designing systems for managing trading operations over cryptocurrencies. The methodology of designing digital asset management systems defines a set of rules for using methods, models and algorithms required to build systems that solve the complex problem of managing trading operations over digital economy assets. For this purpose, the dynamics and trends of pricing of digital investment and financial assets are investigated to identify the peculiarities and specific patterns of cryptocurrency, taking into account the mathematical model of issuance in the conditions of a dynamic crypto-asset market, functioning continuously and forming cyclicality and wave structures.Materials and methods. The object of the study is the dynamics of value indicators of the market of digital financial assets and digital currencies. The subject of the study is methods, models and algorithms for automated monitoring and management of digital financial assets and cryptocurrencies. The methodological basis of the research is formed by blockchain technologies, modeling and mathematical statistics methods, artificial intelligence methods. The statistical information base of the research is formed on the basis of the history of Tradingview’s value quotations from international trading exchanges of digital currencies, as well as by Coinmarketcap and Coingecko cryptoasset market integrators. Problems of modeling processes in economic systems are considered, the problem of optimal control is defined. A critical analysis of the state in the tasks of economic modeling is carried out, taking into account the uncertainty caused by social and psychological reasons.Results. The proposed methodology offers a comprehensive solution to the problem of managing digital financial assets and other financial instruments based on blockchain technology. Digital currencies act as the management object of the proposed methodology, the initial information is a vector of parameters that determine the sensitivity of the system to the perturbing influences of the external environment and the requirements for the expected management results. In accordance with the scientific novelty of the research and methodology, a set of interrelated research stages is formed, consisting of an ordered cascade of methods, models and algorithms that perform preliminary analysis, processing and forecasting of financial time series of value indicators.Conclusion. New blockchain technologies and the emergence of Chat GPT (generative pre-trained transformer) pose new challenges to society, which hopes to utilize such solutions, including for economic tasks. With the help of prediction-free methods and artificial neural networks it is possible to design software systems, thanks to which it is possible to increase the efficiency of trading operations at optimal risks in automatic and automated mode of trade execution. The proposed methodology of management with auxiliary intellectual analysis of time series and application of combined method of decision-making allows managing the portfolio of a new asset class of digital currencies based on blockchain technologies. Taking into account the technical similarity of digital currencies with digital financial assets, it is possible to use the methodology also for the creation of digital financial asset management systems.

Investasi Digital: Faktor Penentu dalam Keputusan Investasi

Digital investment is a new trend in the investment world. Information technology improvement make digital investments growing rapidly. Investors warmly welcome digital investment as an alternative solution to financial problems due to the COVID-19 pandemic. This study aims to examine the effect of financial literacy, risk perception, locus of control and over confidence variables on digital investment decisions. The research was conducted in Sukoharjo Regency with a total of 100 respondents. The data collection method used a questionnaire determined by the selection of respondents through purposive sampling. The test results using SPSS software version 16.0 show that risk perception, locus of control and over confidence have no effect on digital investment decisions, while financial literacy has a positive effect on digital decisions, especially the younger generation. Young investors who do not have long experience in investing decide to invest on the basis of their financial management skills

Blockchain applications for traceability and food safety in agri-food supply chain: cherry product application

PurposeThe primary objective of this study is to investigate the application of blockchain technology (BCT) in the agri-food supply chain, focusing on traceability and food safety.Design/methodology/approachThe study employed a semi-structured interview method with representatives from the cherry supply chain to evaluate their awareness and acceptance of BCT's impact. Additionally, the analytic hierarchy process (AHP) was utilized to determine digital investment priorities in supply chain strategies. By applying the supply chain operations reference (SCOR) model framework to the cherry supply chain, the study aimed to address the question “Which process model is suitable for implementing BCT in the agri-food supply chain?”FindingsThe global agri-food supply chains are characterized by significant food losses, escalating prices along the chain, and food safety risks. Concurrently, consumer concerns regarding food safety, quality and transparency are on the rise. BCT, with its ability to ensure data integrity, immutability, and seamless tracking of chain movements, presents immense potential as a secure infrastructure in the agri-food supply chain traceability.Originality/valueThe developed analytic framework and the study's findings can be adapted to different sectors and different sub-sectors within agri-food supply chains.

Revealing the role of renewable energy consumption and digitalization in energy-related greenhouse gas emissions—Evidence from the G7

The massive consumption of energy promotes rapid economic growth, but it also unavoidably results in a large amount of greenhouse gas emissions, which seriously hinders society’s green and low-carbon development. This paper aims to explore the real impact of renewable energy and digitalization on greenhouse gas emissions from an energy-related perspective using advanced panel econometrics methods based on G7 panel data for 1990–2020. Economic growth and energy efficiency are also considered as control variables. Due to the nonlinear properties of panel data, the moment quantile regression approach is utilized in this research. The findings show that slope heterogeneity is widespread, section-dependent, and has a long-term equilibrium relationship. In addition, digitalization, renewable energy, and energy efficiency can reduce energy-related greenhouse gas emissions and ease environmental pressures. Economic expansion, on the other hand, remains an important positive driver for energy-related greenhouse gas emissions. The results of this study are robust and the causal relationships between variables are tested. Based on the conclusion presented above, this study advises the G7 economies to expand investments in renewable energy and digitalization to promote energy system transformation and pave the road for global decarbonization objectives to be met.

CRYPTOCURRENCY: DO KNOWLEDGE AND EMOTION IMPACT INVESTMENT INTENTION? (STUDY ON YOUNG ADULTS IN MANADO)

Over the past few years, especially during the Covid-19 pandemic where many industries have turned to market digitization, transaction activities in crypto investment have increased quite significantly. The purpose of this research is to investigate how Investment Knowledge and Fear of Missing Out influence young adult's Investment Intention in cryptocurrency assets. This research was conducted with a quantitative approach by analyzing the Linear Regression equation using the Ordinary Least Squares (OLS) technique to get the most relevant results. The data source used is primary, where data is collected through a questionnaire with a total of 125 respondents among young adults in the city of Manado. Data processing uses several software, such as Stata 16/MP and Microsoft Excel 2013.The results of this study indicate that there is a positive influence related to Investment Knowledge and Fear of Missing Out on Investment Intention. Knowledge of investment can increase the intention of young adults to invest in cryptocurrency assets. Meanwhile, fear of missing out also has the ability to trigger investment intention among young adults in cryptocurrency assets. This study recommend that the developers should be able to provide in-depth information related to crypto, also information about systematics and instruments in order to attract more investors and strengthen the market of digital investment. Keywords: Cryptocurrency, investment behavior, FOMO, digital investment, fintech

Digital transformation along the supply chain

In the last two decades, digital transformation has been critical for firms' survival and development. Thus, it is important to understand what factors might help facilitate firms' digital transformation. We investigate this problem in the supply chain context by examining whether and how a supplier's major customers influence its digital transformation. Using a sample of Chinese public firms from 2007 to 2020, we document that major customers' level of digital transformation is positively associated with their supplier's level of digital transformation, and the effect is more pronounced when customers are of greater importance to suppliers. The finding holds to a battery of robustness tests. Cross-sectional tests reveal that the impact of customers' digital transformation on suppliers' digital transformation is stronger for suppliers with technology-experienced executives, more high-skilled labor, fewer financial constraints, and narrower digital gap. Moreover, suppliers headquartered in regions with more digital infrastructure also show a more pronounced effect. Further analyses show that the underlying channels through which customers impact their supplier's digital transformation are knowledge transfer and market competition. Finally, we show that suppliers' digital transformation helps increase innovation outcomes. Overall, our paper extends prior literature on the real effects of customer-supplier relationships on suppliers' digital investment decisions.

Establishing organisational resilience through developing a strategic framework for digital transformation

Purpose The purpose of this paper is to present a strategic management framework for a successful digital transformation (DT) roll-out aimed at enabling organisational resilience. The study aims to identify the critical areas of consideration for management to strategically approach DT in order to build resilience.Design/methodology/approach The research study is based on the 3Ps framework: (1) people (culture, capabilities, engagement and well-being), (2) processes (systems) and (3) plant (technological infrastructure and tools). The research methodology is a qualitative study comprising semi-structured in-depth interviews, conducted with industry experts in different sectors undergoing major digital disruptions such as financial services, mining, oil and gas, energy and retail.Findings The research findings show that the successful roll-out of an organisation’s DT is largely driven by the people elements incorporating organisational culture, workforce skills and training and employee well-being. It also highlights that it is critical for organisations to invest in technological infrastructure, once the people elements have been addressed, as they are the drivers of technology implementation.Research limitations/implications A bigger and broader sample size can validate the elements and structure of the DT framework in South Africa.Practical implications The study’s discussion unlocks understanding about: (1) what are the key enablers for successful DT; (2) what hinders organisations from realising the value of digital investments and (3) a strategic framework for the digital roll-out.Social implications Technology is impacting employees at both a personal and professional levels. Ensuring that DT rollouts are strategical implemented lowers the impact on technostress and strengthens resilience.Originality/value The value and practical implication of this study is that the developed strategic framework can be used by managements to enable the smooth adoption of DT toward building organisational resilience in developing countries such as South Africa with low digital maturity.

Digital transformation and the impact of local tournament incentives: Evidence from publicly listed companies in China

In today's digital era, digital transformation has become an essential strategic priority for enterprises. This study examines how local peer compensation affects enterprise digital transformation, using CEO compensation data from Chinese listed companies between 2010 and 2019. Our research emphasizes the crucial role of local tournament incentives in advancing enterprise digitalization, primarily by enhancing digital investment and reducing financial constraints. Additionally, we find stronger positive effects in non-state-owned enterprises, high-risk-taking enterprises, enterprises with long-serving CEOs, and enterprises whose CEOs are not near retirement age. These findings suggest competition among CEOs for higher compensation in neighboring businesses drives digitalization within enterprises.