editor@ijefm.co.in ISSN[Online] : 2644-0504 || ISSN[Print] : 2644-0490
Analysis of Factors Influencing Technology Mastery in Technopreneur SMES in Malang: Innovation Creativity, Resilience, and Social Networking
1Putra Ramadhani Nurwijayanto, 2Fajar Supanto, 3Dyah Setyawati, 4Muhammad Mahendra Dharmawan
1,2,3,4Fakultas Ekonomi dan Bisnis Program Studi Manajemen , Universitas Merdeka Malang, Terusan Raya Dieng 62-64 Malang 65146, Malang, Indonesia
https://doi.org/10.47191/jefms/v7-i5-74
Google Scholar
Article Pdf
ABSTRACT:

Digital technology is indispensable for micro, small, and medium-sized enterprises (MSMEs) in today's landscape. In Malang, East Java, a city renowned for its thriving MSMEs, particularly in the creative industry, the Malang Creative Center serves as a key hub. This research explores the relationship between creativity, innovation, resilience, social networking, and technology mastery in MSMEs, with a focus on technopreneurship in Malang. Through a quantitative approach, researchers collected data via structured questionnaires distributed among technopreneur MSME owners in Malang. The analysis reveals that creativity, innovation, and social networking significantly influence the level of technology mastery in MSMEs with a technopreneurship orientation. The fusion of creativity and innovation enhances MSMEs' capacity to adopt technology. Moreover, social networking has a positive impact on technology mastery, facilitating information and knowledge exchange related to technological innovation. This study underscores the critical roles of resilience and social networking in enhancing technology mastery within MSMEs, particularly those focused on technopreneurship. The practical implication involves implementing programs that boost MSME resilience and encourage the formation of supportive social networks, fostering knowledge exchange about technological innovation. These measures are crucial for helping MSMEs navigate technological changes, expand their markets, and harness innovative potential in the digital era.

KEYWORDS:

MSME’S, Digital, Technopreneur, Social Networking, Resilience

REFERENCES:

1) Aditi, Bunga, & HMHermansyur 2018, 'PENGARUH INOVASI DAN KREATIVITAS TERHADAP KEPUASAN KONSUMEN PADA UMKM DI KOTA MEDAN', Center for Open Science

2) Ananda, A.D. and Susilowati, D., 2017. Pengembangan usaha mikro kecil dan menengah (umkm) berbasis industri kreatif di kota malang. Jurnal Ilmu Ekonomi JIE, 1(1), pp.120-142.

3) Dinesh, Salini 2022, 'A Study on the Impact of Social Networking Sites on College Student’s Consumption Pattern', International Journal of Advanced Research in Science, Communication and Technology

4) Ghazali, Noorlaila 2023, 'The Impact of technology Acceptance and technology Compliance Costs on SMEs’ business Resilience', Economic Affairs, vol. 68, no. 3, ISSN 0424-2513, Agricultural Economics and Social Science Research Association (AESSRA)

5) Hair, J. F., Risher, J. J., Sarstedt, M., & Ringle, C. M. (2019). When to use and how to report the results of PLS-SEM. European Business Review, 31(1), 2–24.

6) Https://barenlitbang.malangkota.go.id (Diakses pada 1 Novermber 2023 ; 19.45)

7) Kusumawardhany, P.A., 2018. Pengaruh kapasitas absorptif dan situs jejaring sosial terhadap kinerja inovasi usaha mikro kecil dan menengah (UMKM) di Indonesia. Jurnal Manajemen Teori Dan Terapan, 11(1), pp.71-88.

8) Margiutomo, S. A. S., Sundari, R., & Kuswanto, A. (2022). Strategi Bertahan serta Inovasi UMKM Jawa Tengah. Jurnal Pendidikan dan Konseling (JPDK), 4(6), 7868-7880.

9) Purwanto, A. (2021). Partial least squares structural squation modeling (PLS-SEM) analysis for social and management research: a literature review. Journal of Industrial Engineering & Management Research.

10) Redi, A., Marfungah, L., Fansuri, R.F., Prawira, M. and Lafentia, A., 2022. Perizinan Usaha Mikro, Kecil, Dan Menengah (Umkm): Bentuk Pemberdayaan, Perlindungan Hukum Dan Mewujudkan Negara Kesejahteraan. Jurnal Muara Ilmu Sosial, Humaniora, dan Seni, 6(1), pp.282-292.

11) Sofyan, A.T., 2021. Resiliensi Dan Inovasi Umkm Sebagai Penggerak Pemulihan Ekonomi. Jurnal Visionary: Penelitian dan Pengembangan dibidang Administrasi Pendidikan, 9(2), pp.57-65.

12) Sofyan, A.T., 2021. Resiliensi Dan Inovasi Umkm Sebagai Penggerak Pemulihan Ekonomi. Jurnal Visionary: Penelitian dan Pengembangan dibidang Administrasi Pendidikan, 9(2), pp.57-65.

13) Sulaksono, J., 2020. Peranan digital marketing bagi usaha mikro, kecil, dan menengah (umkm) desa tales kabupaten kediri. Generation Journal, 4(1), pp.41-47.

14) Trulline, P., 2021. Pemasaran produk UMKM melalui media sosial dan e-commerce. Jurnal Manajemen Komunikasi, 5(2), p.259.

Submit Article

SJIF Impact Factor

Author's Desk

Downloads

Latest News

Aim and Scope

JEFMS aims to promote interdisciplinary studies in Economics, Finance and Management. The scope of the journal encompasses research articles, reviews and short communications.

Frequency of Publication

JEFMS will publish 12 monthly issues, We publishes articles as soon as the final copy of edited version is approved. Accepts articles in all research fields of Economics, Finance And Management Studies.

Call For Paper

1) Last Date of Submission : 26 November 2024
2) Article published within a week.
3) Submit Article : editor@ijefm.co.in
OR Submit Online

Jefms Indexed In

The Predictive Ability of U.S. Stock Market Skewness on Indonesian Stock Market Returns
editor@ijefm.co.in ISSN[Online] : 2644-0504 || ISSN[Print] : 2644-0490
The Predictive Ability of U.S. Stock Market Skewness on Indonesian Stock Market Returns
1Muhammad Sofian Maksar, 2Winda Sari Firdani, 3Inayah Abdillah Rabbani, 4Yuan Swastika, 5Rifqi Cipto Laksono
1,2,3,4,5Universitas Muhammadiyah Kendari, Indonesia
https://doi.org/10.47191/jefms/v7-i5-71
Google Scholar
Article Pdf
ABSTRACT:

The three-moment capital asset pricing model (three-moment CAPM) suggests that the expected excess return on stocks should include compensation for skewness risk. This study aims to investigate the ability of U.S. stock market skewness to predict Indonesian stock market returns. The data used in this research includes the S&P500 Index, JCI, JII, and LQ45 from January 2001 to December 2022. The results of this study indicate that U.S. stock market skewness can predict future excess returns of the Indonesian stock market. Additionally, when the estimation model incorporates alternative variables from both the U.S. and Indonesian stock markets, the predictive ability of U.S. stock market skewness remains significant and outperforms these alternative variables. The findings of this research can be used as a strategy for investors when trading in the Indonesian stock market. When the skewness of the U.S. stock market increases, the return of the Indonesian stock market is expected to decrease in the following month.

KEYWORDS:

Intertemporal CAPM; Sample skewness; Stock market; Return; Three-moment CAPM

REFERENCES:

1) Amaya, D., Christoffersen, P., Jacobs, K., & Vasquez, A. (2015). Does realized skewness predict the cross-section of equity returns? Journal of Financial Economics, 118(1), 135–167. https://doi.org/https://doi.org/10.1016/j.jfineco.2015.02.009

2) Barberis, N., & Huang, M. (2008). Stocks as Lotteries: The Implications of Probability Weighting for Security Prices. American Economic Review, 98(5), 2066–2100. https://doi.org/10.1257/aer.98.5.2066

3) Bollerslev, T., Todorov, V., & Xu, L. (2015). Tail risk premia and return predictability. Journal of Financial Economics, 118(1), 113–134. https://doi.org/https://doi.org/10.1016/j.jfineco.2015.02.010

4) Byun, S.-J., & Kim, D.-H. (2016). Gambling preference and individual equity option returns. Journal of Financial Economics, 122(1), 155–174. https://doi.org/https://doi.org/10.1016/j.jfineco.2016.06.004

5) Campbell, J. (1996). Understanding Risk and Return. Journal of Political Economy, 104(2), 298–345. https://econpapers.repec.org/RePEc:ucp:jpolec:v:104:y:1996:i:2:p:298-345

6) Chang, B. Y., Christoffersen, P., & Jacobs, K. (2013). Market skewness risk and the cross section of stock returns. Journal of Financial Economics, 107(1), 46–68. https://doi.org/https://doi.org/10.1016/j.jfineco.2012.07.002

7) Chen, J., Jiang, F., Xue, S., & Yao, J. (2019). The world predictive power of U.S. equity market skewness risk. Journal of International Money and Finance, 96, 210–227. https://doi.org/10.1016/j.jimonfin.2019.05.003

8) Ghysels, E., Plazzi, A., & Valkanov, R. (2016). Why Invest in Emerging Markets? The Role of Conditional Return Asymmetry. The Journal of Finance, 71(5), 2145–2192. https://doi.org/https://doi.org/10.1111/jofi.12420

9) Harvey, C. R., & Siddique, A. (2000). Conditional Skewness in Asset Pricing Tests. The Journal of Finance, 55(3), 1263–1295. https://doi.org/https://doi.org/10.1111/0022-1082.00247

10) Harvey, C., & Siddique, A. (2000). Time-Varying Conditional Skewness and the Market Risk Premium. Research in Banking and Finance, 1. https://doi.org/10.2139/ssrn.795386

11) Kelly, B., & Jiang, H. (2014). Tail Risk and Asset Prices. The Review of Financial Studies, 27(10), 2841–2871. https://doi.org/10.1093/rfs/hhu039

12) Kraus, A., & Litzenberger, R. H. (1976). SKEWNESS PREFERENCE AND THE VALUATION OF RISK ASSETS*. The Journal of Finance, 31(4), 1085–1100. https://doi.org/https://doi.org/10.1111/j.1540-6261.1976.tb01961.x

13) Kumar, A. (2009). Who Gambles in the Stock Market? The Journal of Finance, 64(4), 1889–1933. https://doi.org/https://doi.org/10.1111/j.1540-6261.2009.01483.x

14) Londono, J. M. (2011). The variance risk premium around the world (International Finance Discussion Papers, Issue 1035). Board of Governors of the Federal Reserve System (U.S.). https://econpapers.repec.org/RePEc:fip:fedgif:1035

15) Lustig, H., Roussanov, N., & Verdelhan, A. (2014). Countercyclical currency risk premia. Journal of Financial Economics, 111(3), 527–553. https://doi.org/https://doi.org/10.1016/j.jfineco.2013.12.005

16) Merton, R. C. (1973). An Intertemporal Capital Asset Pricing Model. Econometrica, 41(5), 867–887. https://doi.org/10.2307/1913811

17) Rapach, D. E., Strauss, J. K., & Zhou, G. (2013). International Stock Return Predictability: What Is the Role of the United States? The Journal of Finance, 68(4), 1633–1662. https://doi.org/https://doi.org/10.1111/jofi.12041

18) Rubinstein, M. E. (1973). The Fundamental Theorem of Parameter-Preference Security Valuation. The Journal of Financial and Quantitative Analysis, 8(1), 61–69. https://doi.org/10.2307/2329748

19) Sarno, L., Schneider, P., & Wagner, C. (2012). Properties of foreign exchange risk premiums. Journal of Financial Economics, 105(2), 279–310. https://doi.org/https://doi.org/10.1016/j.jfineco.2012.01.005

Submit Article

SJIF Impact Factor

Author's Desk

Downloads

Latest News

Aim and Scope

JEFMS aims to promote interdisciplinary studies in Economics, Finance and Management. The scope of the journal encompasses research articles, reviews and short communications.

Frequency of Publication

JEFMS will publish 12 monthly issues, We publishes articles as soon as the final copy of edited version is approved. Accepts articles in all research fields of Economics, Finance And Management Studies.

Call For Paper

1) Last Date of Submission : 26 November 2024
2) Article published within a week.
3) Submit Article : editor@ijefm.co.in
OR Submit Online

Jefms Indexed In