Jurnal Penelitian Ekonomi dan Bisnis

Navigating the Digital Marketplace How Entertainment, Customization, and Trendiness on Social Media Shape Brand Image and Purchase Intentions Among Indonesian Women

Mohamat Basori, Arif Nugroho, Arif Hidayat — Tue, 29 Sep 2026 00:00:00 +0000

The rapid evolution of social media has fundamentally transformed consumer-brand interactions, particularly within the dynamic Indonesian digital landscape. This study investigates the impact of specific social media marketing activities (SMMAs) entertainment, customization, and trendiness—on the purchase intentions of Indonesian women, with brand awareness and brand image examined as critical mediating variables. Grounded in the Theory of Planned Behavior, the research employs a quantitative survey methodology, collecting data from 280 active female social media users in Indonesia who have prior online shopping experience. Data analysis was conducted using Partial Least Squares Structural Equation Modeling (PLS-SEM) via SmartPLS 4.0.0.9. The findings reveal that customization and trendiness significantly and positively influence brand awareness, which in turn strongly affects both brand image and purchase intention. Brand awareness fully mediates the relationship between customization/trendiness and purchase intention. Interestingly, while entertainment has a significant direct effect on purchase intention, its impact on brand awareness and brand image is not statistically significant. The study concludes that for brands targeting Indonesian women, creating personalized and trend-conscious content is paramount for building brand salience and positive associations, which ultimately drive purchase decisions. The research offers theoretical contributions by integrating SMMA dimensions within a TPB framework in a non-Western context and provides practical insights for marketers crafting gender-specific digital strategies in Indonesia’s burgeoning e-commerce market.

Developing Human Capital through Communication Performance The Mediating Role of Self Efficacy in Academic Presentations

Arif Rahman Hakim — Tue, 29 Sep 2026 00:00:00 +0000

Communication skills, particularly effective presentation delivery, are increasingly regarded as strategic competencies in human resource development, yet students’ readiness in this domain remains uneven. This study examines the effects of audience engagement, feedback orientation, and presentation anxiety on students’ presentation delivery quality, with self-efficacy positioned as the central mediating mechanism. A quantitative approach was employed, using survey data from 189 Management students at a public university in Indonesia, and the data were analyzed using Partial Least Squares–Structural Equation Modeling (PLS-SEM). The results demonstrate that audience engagement and feedback orientation positively affect self-efficacy and presentation delivery quality, whereas presentation anxiety negatively affects both outcomes. Moreover, self-efficacy significantly mediates the relationships between the three antecedent variables and presentation delivery quality. The findings extend Social Cognitive Theory by highlighting self-efficacy as a key psychological resource in higher-education-based human capital development. Practically, the study offers insights for lecturers and human resource development practitioners in designing interactive, feedback-oriented communication learning environments that systematically strengthen students’ self-efficacy and readiness for future professional roles.

Examining the Effects of Financial Literacy and Motivation on Students Investment Decisions The Mediating Role of Financial Management

Amalia Nur Chasanah, Ratna Herawati, Mila Sartika — Tue, 29 Sep 2026 00:00:00 +0000

Rapid technological developments have brought significant changes to economic activity in Indonesia, including digital transactions and financial management. This situation requires individuals, especially students, to have adequate financial literacy and financial management skills to manage their finances effectively and responsibly. This study aims to analyze the influence of financial literacy and motivation on students' financial management and investment decisions, with financial management as a mediating variable. The study used a quantitative approach with a sample of 109 students in Semarang city and analyzed to test the proposed hypotheses. The results showed that financial literacy had a positive and significant effect on financial management and investment decisions. Motivation had a positive and significant effect on financial management, but did not affect investment decisions. Furthermore, financial management played a positive and significant role in investment decisions. These findings emphasize the importance of financial literacy and effective financial management in forming rational, planned, and sustainable investment decisions for students.

Macroprudential Policy, Islamic Banking, and Economic Transformation: Ensuring Pro-Poor Stability

Fajriyatul Abadiyah; Tri Yunita — Tue, 29 Sep 2026 00:00:00 +0000

Persistent poverty across Organisation of Islamic Cooperation (OIC) member states remains a formidable challenge, even as Islamic financial assets continue to expand at double-digit rates. This study investigates a relatively unexplored intersection: whether macroprudential instruments embedded within the Islamic banking architecture, specifically the Sharia-compliant Capital Adequacy Ratio (CAR), Loan-to-Value (LTV) regulation, and Sharia Banking Depth, exert measurable long-run effects on national poverty rates across OIC economies. Using an annual panel dataset of 30 OIC countries spanning 2000 to 2022, sourced from Bloomberg, the World Development Indicators (WDI), and SESRIC, we deploy a Vector Error Correction Model (VECM) framework to capture both long-run cointegrating relationships and short-run adjustment dynamics. System GMM estimation further validates the findings against potential endogeneity. Results confirm that Sharia Banking Depth and Islamic bank CAR exercise significant negative effects on poverty in the long run, while consumer price inflation remains the strongest pro-poverty force in the system. LTV regulation, conversely, demonstrates a regressive long-run effect, restricting credit access most acutely for lower-income households. Fiscal policy shows a conditional, governance-dependent impact. The Error Correction Term coefficient of −0.387 indicates a convergence speed of approximately 38.7% per annum. These findings yield actionable policy prescriptions for OIC financial regulators seeking to embed pro-poor objectives within macroprudential design.

Financial Wellbeing of Young Entrepreneurs The Integration of Fintech Use in Managing Financial Literacy and Financial Stress

Irma Vebiana, Hadi Sumarsono, Riawan Riawan — Tue, 29 Sep 2026 00:00:00 +0000

The low financial wellbeing index in Indonesia highlights the urgency of improving financial well-being, especially for young entrepreneurs in the vulnerable startup phase. Within the COR Theory framework, this study analyzes the influence of financial knowledge and financial stress on financial well-being, with fintech use as a mediating variable, among young entrepreneurs in Ponorogo Regency. This quantitative research used purposive sampling to select 161 young entrepreneurs actively utilizing fintech, with data analyzed via PLS-SEM 4.0. The results demonstrate that financial knowledge, financial stress, and fintech use each have a significant positive effect on financial well-being. Additionally, financial knowledge significantly drives fintech use, whereas financial stress has a non-significant positive effect. Furthermore, fintech use successfully mediates the impact of financial knowledge on financial well-being but fails to mediate the effect of financial stress. This research implies that young entrepreneurs must optimize fintech services to gain better financial control and simplify cash flow management, which ultimately improves long-term financial wellbeing.

Sustainable Stock Investment Decisions Integrating Digital Financial Literacy, Environmental Concern, and Behavioral Finance Factors

Abdul Syukur, Fakhmi Zakari, Fery Riyanto — Tue, 29 Sep 2026 00:00:00 +0000

This study aims to examine the influence of Digital Financial Literacy, Environmental Concern, and Risk Tolerance on Sustainable Stock Investment Decision among stock investors in Indonesia. A quantitative approach was employed using a survey of 190 stock investors collected between January and February 2026 through a purposive sampling technique. The data were analyzed using Covariance-Based Structural Equation Modeling (CB-SEM) with SmartPLS 4. The results indicate that Digital Financial Literacy has a positive and significant effect on Sustainable Stock Investment Decision (β = 0.203; p < 0.05). Risk Tolerance also has a positive and significant effect (β = 0.704; p < 0.05) and emerges as the strongest predictor in the model. In contrast, Environmental Concern does not have a significant effect on Sustainable Stock Investment Decision (β = 0.084; p > 0.05). These findings suggest that sustainable stock investment decisions in Indonesia are influenced more by investors’ ability to utilize digital financial information and their tolerance for risk than by their concern for environmental issues..

AI Capability and Digital Transformation The Moderating Role of Sustainable Innovation in Shaping Perceived Competitive Advantage

Walter Tabelessy, Pathrisye Richendi Limba, Maulina Annur Sirayan — Tue, 29 Sep 2026 00:00:00 +0000

The growth of e-commerce has intensified competition, necessitating the need for companies to build competitive advantage through the integration of digital capabilities and sustainable business practices. This study analyzes the influence of AI Capability and Digital Transformation on Perceived Competitive Advantage and examines the moderating role of Sustainable Innovation. The study employed a quantitative approach with a survey of 160 Generation Z Shopee and TikTok Shop users in Maluku Province, Indonesia. Data were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM). The results show that AI Capability and Digital Transformation have a positive and significant effect on Perceived Competitive Advantage, with Digital Transformation having a stronger effect. Furthermore, Sustainable Innovation significantly strengthens the influence of both AI Capability and Digital Transformation on Perceived Competitive Advantage, indicating that a sustainable innovation orientation enhances the effectiveness of digital capabilities in creating value for customers. These findings indicate that competitive advantage in e-commerce depends not only on technology adoption but also on an organization's ability to integrate sustainability principles into its innovation strategy. This research enriches the marketing and digital transformation literature through the integration of Resource-Based View, Dynamic Capability Theory, and Stakeholder Theory, while providing practical implications for e-commerce platforms in designing customer-oriented digital strategies that are in line with the expectations of Generation Z consumers.

Grassroots Against the Bet: Community-Led Digital Resistance to Online Gambling in Indonesia

Zaldiansyah Perdana, Shinta Amrina Rosadha, Vicky Oktavia — Tue, 29 Sep 2026 00:00:00 +0000

Online gambling (judi online, “judol”) has become a major digital-era social and economic harm in Indonesia, particularly among young and low-income groups. This study examines community-led digital resistance as a demand-side complement to state-led site blocking and financial interdiction. It investigates how key opinion leaders, content aggregators, and youth, hobby, and government-linked communities construct and circulate anti-judol messages; how network structure shapes message reach and resonance; and whether exposure influences awareness, perceived norms, refusal self-efficacy, collective efficacy, and intention to abstain. A convergent mixed-methods design combines social network analysis, quantitative content analysis, digital-campaign analytics, a community survey, and interviews with campaign actors and institutional partners. The study integrates connective-action theory, the two-step flow of communication, collective-efficacy theory, and inoculation theory. It is expected to show that trusted brokers connecting otherwise separate communities can strengthen message diffusion, while empathetic and prebunking-oriented content can improve resistance to gambling promotion. The study contributes a Global South perspective on networked civic action and offers practical guidance for community-anchored interventions that complement enforcement, strengthen digital literacy, protect vulnerable groups, and build social resilience against online gambling

Cryptocurrency Adoption Under Institutional Dualism Extending Technology Acceptance Model Among Indonesian Generation Z

Tue, 29 Sep 2026 00:00:00 +0000

This study examines how perceived usefulness, ease of use, and perceived risk mediate the relationship between technology awareness and behavioral intention to adopt cryptocurrency among Indonesian Generation Z, with government support as a moderator under institutional dualism. A quantitative cross-sectional design was executed using Partial Least Squares Structural Equation Modeling (PLS-SEM) on a sample of 335 respondents ( ). Results reveal that perceived usefulness (indirect effect = 0.291, ) and ease of use (indirect effect = 0.158, ) significantly mediate adoption intention, whereas perceived risk does not (indirect effect = 0.011, ). Crucially, perceived risk directly predicts intention positively ( , ), indicating Generation Z perceives risk as a signal of high return potential rather than a barrier. Government support moderates only the awareness, ease of use, and intention pathway (Index of Moderated Mediation = 0.014, ). This study establishes institutional ambiguity as a critical boundary condition for technology acceptance models, where regulatory dissonance suppresses or inverts classical risk mediation. Policy effectiveness hinges on harmonizing regulatory frameworks between financial and monetary authorities.