The expansion of tourism locations that are both creative and of high quality is a significant contributor to the expansion of the economy. The stages of tourism development that are influenced by the progression of information technology are represented by the term "smart tourism" in the context of the ecosystem of smart villages. Integrating micro-enterprises with tourist practices is one of the ways that may be utilised to speed up the development of villages. By implementing the concept of smart tourism, tourism integrated with information and communication technology (ICT) can potentially improve both the economics and the services provided by the tourism industry. This research aims to analyse the clustering of smart tourism potential possibilities within the Kemang sub-district. These areas' clustering depends on some variables, including infrastructure (access for tourists), innovation, technology, local wisdom, distinctiveness, and economic conditions. The Fuzzy C-Means (FCM) clustering approach is utilised. A Geographic Information System (GIS) is utilised to facilitate the process of determining which villages are included in each cluster. This is done to describe potential areas better. The value of the cluster evaluation using the Davies Boulding Index (DBI) obtained is 0.3819, and the number of clusters with the best performance is 3. There is a very potential cluster in Cluster 3, comprising two villages (Kemang and Atangsanjaya). A potential cluster was also detected in Cluster 2, comprising three villages (Tegal, Pondokudik, and Parakanjaya). Furthermore, a fairly potential cluster was detected in Cluster 1, consisting of three villages (Jampang, Pabuaran, and Bojong). Specifically, in the Kemang sub-district, it is anticipated that the findings of this study will provide an overview of possible sites for implementing environmentally conscious tourism.

This study examines the interaction effect between transformational leadership, transactional leadership, wireless IT competence, ambidexterity and supply chain management capability in increasing innovation capability. By using a knowledge-based view and dynamic capability theory basis, this research has provided an exploration of the supply chain of a merchant marine college and its impact on innovation capability using a quantitative method approach. The authors collected data from a cross-section of 673 questionnaires distributed to Managers in 3 managerial classifications from top, middle and bottom in the technical service unit of the merchant marine college under the Indonesian Ministry of Transportation. A total of 523 data were collected from questionnaires that could be continued for data analysis. The results of this study indicate that all the hypotheses put forward in this study are accepted, and the role of mediating variables in this research has succeeded in demonstrating their role in mediating each antecedent variable to increase innovation capability. The theoretical implication of this research is the growth of cloud or virtual supply chains facilitated by digital wireless communications, and internet technology is advancing logistics and supply chain innovations. Also, it can reinforce theory and dynamic capability.

As a capital market investment, stocks have risks that must be managed. Therefore, investors should consider the returns and risks of investment products. This study aims to estimate the risk of insurance companies' loss when investing. The method used to estimate the level of risk is Value at Risk (VaR) based on Extreme Value Theory (EVT). The data used is secondary data in the form of daily stock closing prices from two insurance companies, AXA General Insurance and BRI Insurance, from January 2016 to January 2022. The data were used to estimate the risk value according to the EVT principle. As a result, Insurance AXA General Insurance, with 5.91% liquidity, has the lowest VaR value with a 99% confidence level, while BRI Insurance has 5.04%. We concluded from these results that AXA General Insurance has a lower investment risk. It means that each company has a different risk value. Therefore, investors should know these risk factors when choosing a company.

The construction of smart villages has begun in many Indonesian villages, along with the advancement of technology and local economic growth. Villagers must participate in constructing the smart economy-smart village by becoming familiar with the characteristics of the village's inhabitants using the citizen science model. This study intends to categorize villagers so that researchers can assess and decide their level of readiness for a smart economy in an ecosystem based on a smart village. Clustering is required to find communities of residents who are ready based on their traits. Using fuzzy C-Means with a Davied Bouldin Index value of 0.129, the data were divided into 4 clusters. The most important variables were chosen using information from the test's 300 responders, and the Kaiser Mayer Olkin assumption of 0.975 was used to validate the results. Our paper provides new information on how smart village readiness is assessed by the citizen science cluster. It was decided to divide residents into four groups: those who are less prepared (24.33%), those who are somewhat prepared (29.33%), those who are ready ( 25.67%) %), those who are ready (level of participatory knowledge), and those who are very ready for the smart economy (20.67%) based on the cluster model.

Losses experienced by the Indonesian government due to floods are predicted. It is because of the significance of population growth, closure of water catchment areas, and climate change in many regions in Indonesia. The government has tried to reduce the risk but faces insufficient funds. Therefore, new innovative funding sources are essential to overcome these limitations. One way to obtain it is through issuing Flood Catastrophe Bonds (FCB). Unfortunately, Indonesia has had no FCB price estimate until now. On the basis of this problem, this study aims to estimate the FCB price in Indonesia. The primary method used is the approximation method of the aggregate loss distribution. This method can compute the aggregate flood loss cumulative distribution function value faster. The FCB fair price estimation results are cheap because the risk of the instrument is significant. This significant risk is also proportional to the large return. Finally, further analysis shows that in Indonesia, the attachment point of the FCB has a relationship that is in line with the price, while the term of FCB does not. This research is expected to assist the Indonesian government in determining the fair price of FCB in Indonesia. This research can assist the investors in choosing FCB based on expected return, attachment point, and the term they want.

Giving credit to debtors can pose a default risk. This risk arises because of an error in analyzing the credit risk rate of the debtor. Therefore, this study aims to design a framework for analyzing the credit risk rate of debtors so that the default risk can be reduced. This framework is created using the integration of factor analysis and Tsukamoto’s fuzzy logic method. This integration method can group many credit assessment variables into several decisive factors. In addition, the integration method can estimate credit risk rate firmly based on the α-predicate of each basic rule. This analytical framework is simulated on credit application data at a Rural Bank, in Indonesia. The simulation results show that there are three factors and one variable to measure the credit risk rate, namely: factor 1 represents repayment capacity, business length, working capital, and liquidity value; factor 2 represents the age and the difference between the granted and the proposed loan amount; factor 3 represents the stay length, character, and credit history; and one variable represents a dependent number. This research is expected to help credit institutions measure the credit risk rate in making credit decisions for prospective debtors.

Life insurance is designed to reduce the risk of financial loss due to unforeseen consequences related to the insured's death. In life insurance, the insurer provides death benefits as a claim when the insured suffers death. The claim is the compensation for a risk loss. Individual claim in one-period insurance is called aggregation claim, while aggregation claim is a collective risk. Collective risk is usually measured using a variance. However, the variance risk measure cannot often accommodate any event risk because there is a risk of claims beyond the amount of variance. Using the proposed method CVaR and confidence level are taken from α = 0.25% until 4%. This study found that the proposed method CVaR scored more fairly than Collective Risk. In conclusion, this study indicated that the collective risk model is just included using mean and variance without any confidence level. Therefore, only one result for the Collective Risk model, which automatically shows the model using mean, variance and standard deviation, could not accommodate all risk events.

This study aims to measure people's decision-making to buy their pet insurance and compare it with the amount of insurance premium rates offered. It is important due to the increase in people's income which has triggered the birth of a community of pet lovers as part of the middle-class people’s lifestyle in Indonesia. The survey data was conducted using the Stated Preference (SP) format through questionnaires and interviews to determine the public response to pet insurance premiums. The collected data were analyzed using descriptive methods, decision-making analysis was on the basis of the choice of the dichotomous Contingent Valuation Method (CVM), and logistic regression analysis. Based on the calculation analysis using the logit method shows that the ability of the public to pay pet insurance premiums is IDR289,454.54. Analysis of calculations using the Turnbull method was obtained at IDR365,000.00. The results of the WTP amount, both using the logit method and using the Turnbull method, are greater than the minimum premium amount offered which is IDR190,000.00. The results of this study indicate that the premium rates for pet insurance offered are still within reasonable limits, compared to the size of the decision-making by the animal lover community in Indonesia. This provides a very good prospect for insurance companies that have insurance products for pets in Indonesia. This study was conducted to provide empirical evidence that the decision-making of the animal lover community is greater than the premium rate for pet insurance that has been offered. Thus, this research strongly supports the development of pet insurance companies in Indonesia, which can provide pet protection to stay healthy and well looked after.

The property is a unique product that cannot be contrasted with other commercial products due to pricing conditions. Property price determination is one of the crucial aspects of property development activities because of the profit margin made by the developer and the purchasing preferences. This study attempts to extend the literature that has largely focused on factors of housing prices in developed markets and provided recent evidence of housing price determinants in two countries (i.e., Indonesia and Malaysia). Thus, this study examines the factors affecting housing prices in Jakarta Metropolitan Region and Greater Kuala Lumpur. A quantitative approach was used involving two countries, namely Indonesia and Malaysia. The data was collected using a survey questionnaire through purposive sampling. A total of 100 respondents (Indonesia) and 134 respondents (Malaysia) participated in this study. The data was analyzed using descriptive (frequency) and inferential statistics (chi-square test and multinomial regression). The results indicated that housing location, property funding, and health have a significant effect on residential property prices in Indonesia. Besides that, the results displayed that housing physical design, home design and construction, developer and real estate products, development concepts, housing location, property funding, social status, health, law provisions, and external factors do not affect residential property price in Malaysia. Despite being neighbors, Indonesia and Malaysia have distinct economic and landscape characteristics. Furthermore, considering Indonesia has a higher number of Covid-19 cases than Malaysia, significant information on how the pandemic has affected the demand, cost, and pricing of residential housing in Jakarta and Kuala Lumpur will be provided. The findings of this study will provide recommendations to investors, buyers, and policy about the residential housing industry's prospects for growth in emerging nations following the pandemic.

In Indonesia, natural disasters cases have significantly increased from time to time and have the largest impact on economic losses. To avoid losses in the future due to natural disasters, the insurance company needs to estimate the risk and determine the rate of premium that would be charged to the policyholder. In conjunction with the present issue, this study seeks to determine the premium rate and estimate the size claim of insurance by considering the mitigation fund reserve decisions using The Collective Risk Model (CRM). The data was analyzed using the Poisson process with Weibull distribution to determine the natural disaster frequency and losses. The distribution of losses is estimated using Maximum Likelihood Estimation (MLE), and the magnitude of losses was estimated using the CRM. Also, the mean and variance estimators of the aggregate risk were used to estimate the premium charged. The results indicated that expectation and variance of the frequency of incident claims have the same value, i.e., 2562. Also, the loss claims follow the Weibull distribution with the expected value and variance of 5.81309×10¹⁰ and 2.5301×10²², respectively. The mean and variance of the aggregate (collective) claims are 148,931,365,800,000 and 7.35×10²⁵, respectively. In conclusion, this study has successfully determined the efficient pure premium model through the Standard Deviation Principle (SDP). SDP provides a much cheaper premium than the Expected Value Principle with the same loading factor. In addition, SDP considers the standard deviation of the collective risk of natural disasters. The implications of the results of the premium determination are expected to be the basis for decision-making for insurance companies and the government in determining insurance policies for natural disaster mitigation.