Skema Ponzi: Indikasi Kecurangan Pada Valuasi Startup Menggunakan Gross Merchandise Value

Abstract

Startup-related issues have been growing in recent years due to their massive publication in the media. The growth numbers of startup companies globally, especially in Indonesia, have shown an astonishing figure. Valuation is one of many issues that revolve around startups. This study examines valuation fraud that leads to Ponzi Scheme in startup companies by using Gross Merchandise Value (GMV) as the valuation indicator. Scoping review was employed to identify and map literature that links to this study’s topic comprehensively through many sources. Venture capitalists and management teams play a key role in valuing startups. Financial academics suggest general valuation models, such as Net Present Value (NPV) and Discounted Cash Flows (DCF), are not used to value startups. They tend to value their company subjectively, which doesn’t represent startup true economic values. They use their advantages on information asymmetry excessively, leading to overvaluing the startup’s values. This study concludes that using subjective factors and limiting a startup’s economic and performance information disclosure by only disclosing Gross Merchandise Value will lead to startup valuation fraud in the form of the Ponzi Scheme.

Critical Success Factors in the Implementation of the PPP Scheme in the Wosusokas SPAM Project (Wonogiri, Surakarta, Sukoharjo, and Karanganyar)

“…The literature that we use is the result of studies or research on the implementation of PPP and the key factors that support the success of its implementation, both from Indonesia and other countries. Brien et al (2010), Prayuda et al (2022), andRumrill et al (2010) provided an overview of scoping reviews in the form of a method used in research or studies by collecting and analyzing various types of research or related studies so that new knowledge is obtained. This research attempts to collect study results from critical success factors in the implementation of PPP schemes in the development of a country.…”

Analysis of Technology Acceptance Model at Tiktok Shop in Bekasi City in Gen Z and Milenials

“…Selain itu pada semester I 2022, TikTok GMV telah mencapai 1 milliar dollar dengan GMV untuk pasar Indonesia adalah 200 juta dollar US (Technode, 2022). GMV atau general merchandise value sendiri merepresentasikan kinerja atau jumlah transaksi perdagangan yang terjadi dalam kurun periode waktu tertentu yang secara tidak langsung merepresentasikan pangsa pasar (Prayuda, Zakiyuddin, & Firmansyah, 2022). Hal tersebutlah yang kemudian melahirkan fitur e-commerce pada TikTok yaitu TikTok Shop.…”