Professional judgments in business valuation should be based on persuasive comparative data and conclusive empirical studies. However, these judgments are frequently made without these conditions, causing professional skepticism. An appraiser should explain in detail what was done to get the market value because valuation is the initial crucial step in the investment decision process. In socially responsible investment schemes, an appraiser has a fiduciary duty and a vital role in protecting the public from fraud and the risk of asset value destruction. Professional skepticism is essential to direct the appraiser’s judgment towards independent valuation for the public interest, assisting in evaluating the relevance and reliability of information, especially relating to social, environmental, and ethical issues. This paper studies the business valuation process from a behavioral finance perspective in the United States and Indonesia, aiming to tweak business valuation practices, identify biases, and mitigate them to ensure the market value does not shift far from fairness opinion. The case study explores experiences from the professional role-learning process. The results highlight the need for an appraisal protocol in business valuation, improvements in the discount for lack of marketability application, and these findings are pertinent to business appraisers and regulators. Recommendations include enhancing the clarity of professional judgments and the integration of recent empirical studies into practice.

Indonesia’s stock market has seen an increase in investment due to the ease of investing and the availability of information about stocks on different social media platforms. This research uses a social network approach to analyze overconfidence behavior in millennial stock investors. This research uses a descriptive quantitative method. The population used in this study are capital market investors in the Greater Solo area who are millennials (<30 years). The number of stock investors in the Greater Solo area is 60,542 investors. The sampling technique in this study was non-probability sampling using purposive sampling. This research uses the AMOS SEM (Structural Equation Model) analysis tool. The conclusion of this study is that millennial investors’ overconfidence behavior increases influenced by financial literacy. investor skills. family ties and friendship ties. The contribution of this research can be applied to understand and educate millennial investors in order to overcome overconfidence behavior so that they can anticipate the losses received. This research may have implications for improving Behavioral Finance Integration Incorporating insights from behavioral finance into investment strategies can help mitigate the negative effects of overconfidence. The limitation in this study is that the scope used in the study is only in the greater solo area.

As a key factor in the macroeconomic process, the interaction between public confidence and the commodity market, especially its impact on commodity facilitation returns and macroeconomic linkages, is worth exploring in depth. This study adopts the TVP-SV-VAR model to analyze the causal linkages, dynamic characteristics, and mechanisms of the interaction, and reveals the following core findings: (1) The economic background and information shocks contribute to the variations in the effects and orientations of the economic variables, which highlight the time-varying nature of the economic interactions. (2) Consumer and investor confidence exert heterogeneous influence on the macroeconomy, and their different responses to the negative effect of interest rates and convenience gains are particularly significant in the post-crisis recovery period. (3) In the short-term perspective, the influence of public confidence on monetary policy and inflation exceeds that in the medium and long term, highlighting the immediate sensitivity of individual economic behavior. (4) Since 2015, accommodative monetary policy has accelerated market capital flows, delaying the interaction between confidence indices and inflation, revealing policy time lag effects. (5) Convenience gains exhibit complex time-varying interactions with key economic parameters (interest rates, commodity prices, and inflation), with 2011 and 2014 displaying particular patterns, mapping differences between short- and long-term mechanisms, respectively. The study highlights the central role of consumer and investor confidence in the precise tailoring of macroeconomic policies, providing a scientific basis for policy forecasting and economic regulation, and contributing to economic stability. Meanwhile, the dynamic evolution of consumer confidence deepens market trend foresight, enhances the precision of market participants’ decision-making, and reinforces the resilience and predictability of economic operations.

In the era of rapid technological development, the integration of technology in education has become crucial (Hashim et al., 2022). The digital transformation of education requires universities to transform their traditional operational models, strategic directions, and teaching practices, re-examine their own value propositions, and promote high-quality innovative development in universities. Transformation and change bring challenges to organizational management, especially leadership. Can digital leadership positively influence the innovative behavior of university teachers? Can digital leadership improve organizational innovation performance by influencing innovation behavior? These questions urgently need to be answered through practical surveys of digital transformation in universities. From March 2024 to May 2022, we conducted a survey of 1142 participants from 12 universities in Kunming, southwestern China. Our research findings indicate that digital leadership has a positive impact on the innovation performance of university organizations; Innovation behavior plays a mediating role between digital leadership and organizational performance. These findings provide new insights into the potential mechanisms by which digital leadership influences organizational innovation in universities. The research findings emphasize that in the process of transforming traditional operational models, strategic directions, and teaching practices in higher education, in order to achieve high-quality innovative development, it is necessary to attach importance to digital leadership and continuously stimulate innovative behavior.

This study investigates the potential of developing a maritime tourism project within the blue economy of Pakistan and explores the factors influencing blue growth and maritime tourism. A quantitative research approach has been adopted. The research gathered primary data from diverse experts and stakeholders within the maritime sector and related industries. The study’s target population comprised on various entities involved in these sectors. A sample of around 250 individuals was selected using a convenient sampling technique. The collected data underwent analysis using the Statistical Package for the Social Sciences (SPSS) and the Partial Least Square (PLS) method. This approach was chosen to explore and understand the intricate relationships between variables in the context of the maritime industry. Structural Equation Modeling (SEM) and Confirmatory Factor Analysis (CFA) techniques were then employed to scrutinize the data further, allowing for a comprehensive examination of the interconnections among the variables identified in the study. This robust methodological approach enhances the study’s credibility and provides valuable insights into the dynamics of the maritime sector and its associated industries. The findings indicate that a balanced approach, valuing business sustainability, top management support, and enabling innovation structures positively impact blue growth. Additionally, uncertainty avoidance and promoting short-term goals have an appositive impact on the blue economy. Moreover, two potential barriers, Functional strategy, and weak competency, do not significantly affect the blue economy. This study lays the foundation for further exploration and implementation of strategies that promote sustainable growth and development in Pakistan’s blue economy. By integrating the insights gained from this study into policy and decision-making processes, stakeholders can work together to create a vibrant and sustainable maritime tourism sector that benefits both local communities and the environment.