Journal of Economics, Entrepreneurship, Management Business and Accounting

Consumer Behavior: A Study on Motorcycle Credit Decisions

Yonas Ferdinand Riwu — 2026-07-03

Purpose – This study aims to analyze the influence of Brand Image, Trust, and Experience on consumer credit decisions in FIFGROUP Kupang City.

Design/methodology/approach – Quantitative design with purposive sampling and using multiple regression analysis to measure the relationship between these variables. 100 data were collected through a questionnaire survey with purposive sampling tactics, and the data was processed with the help of SPSS V.26.

Finding/Results – The results show that Brand Image has a positive influence on credit decisions, where a strong brand image increases consumers' tendency to take credit. In addition, trust proves to be a key factor in building long-term relationships, where consumers' trust in the integrity and transparency of the company greatly influences their decisions. Positive experiences during the credit application process also contribute significantly, with a good experience driving word-of-mouth recommendations.

Originality/Value – This research provides suggestions for FIFGROUP to strengthen these three aspects in marketing and customer service strategies to increase conversions and consumer loyalty.

Employee Performance Determinant Model: Organizational Culture, Career Development and Competence through Employee Loyalty

Arfandy Dinsar — 2026-07-22

Purpose – This study examines the role of employee loyalty in mediating the influence of organizational culture, career development, and competence on employee performance in a public service organization. The research is motivated by inconsistencies in prior findings and the need for an integrated human resource management model within PT. PLN (Persero) South Sulawesi, where performance issues are linked to cultural, developmental, and competency-related challenges.

Design/methodology/approach – This research employs a quantitative approach with a correlational design. Data were collected from 92 employees of PT. PLN (Persero) South Sulawesi using purposive sampling. Data analysis was conducted using Structural Equation Modelling (SEM) with AMOS to examine both direct and indirect relationships among variables, including the mediating role of employee loyalty.

Finding/Results – The results show that organizational culture, career development, and competence have positive and significant effects on employee loyalty and performance. Employee loyalty also significantly influences performance and acts as a partial mediating variable. The findings indicate that the indirect effects through loyalty strengthen the overall impact of organizational factors on employee performance.

Originality/Value – This study offers an integrated structural model that highlights employee loyalty as a key mediating variable in explaining employee performance. The findings emphasize that improving performance requires a holistic approach combining organizational culture, career development, and competence. Practically, this research provides evidence-based recommendations for strengthening human resource management strategies in public sector organizations, particularly in enhancing sustainable employee performance.

Decoding Financial Sustainability in Microfinance: The Interplay of Financial Literacy and Leadership Trust

Esli Silalahi — 2026-07-25

Purpose – This study empirically decodes the micro-level structural drivers determining the long-term financial sustainability of grassroots microfinance institutions, specifically savings and loan cooperatives in the North Sumatra region of Indonesia by uncoupling the dimensions of financial literacy.

Design/methodology/approach – Utilizing a quantitative cross-sectional survey, data was collected from 276 active cooperative members. The hypothesized causal-predictive relationships were analyzed using Variance-Based Partial Least Squares Structural Equation Modeling (PLS-SEM).

Finding/Results – Applied financial skills directly and significantly drive institutional sustainability. Financial knowledge indirectly enhances sustainability through the mediation of calculus-based institutional trust. Conversely, traditional financial culture fails to exert any significant direct or indirect effect on sustainability.

Originality/Value – This research challenges the conventional reliance on informal social capital in microfinance. By evaluating individual financial literacy (knowledge and skills) alongside the environmental context of localized financial culture. The findings suggest that technical human capital (applied skills) and cognitively validated trust—rather than communal culture alone—serve as critical foundational components for grassroots financial resilience within the tested model.

The Influence of Motivation, Entrepreneurship, and Utilization of Information Technology of Management on the Performance of KPRI Cooperatives in Bangkalan Regency

Manah Tarman — 2026-07-28

Purpose – This study examines whether work motivation, entrepreneurial orientation, and information technology (IT) utilization are associated with the performance of Republic of Indonesia Employee Cooperatives (Koperasi Pegawai Republik Indonesia, KPRI) in Bangkalan Regency.

Design/methodology/approach – A quantitative, cross-sectional explanatory survey was conducted in May 2025. Questionnaire responses were obtained from 106 KPRI administrators representing 36 cooperatives and analyzed using descriptive statistics, item-total correlations, Cronbach's alpha, diagnostic tests, and multiple linear regression.

Finding/Results – The regression model was statistically significant, F(3, 102) = 18.551, p < .001, and explained 35.3% of the variance in cooperative performance (adjusted R² = .334). Work motivation had a positive unique association with performance (B = .341, beta = .286, p = .009). Entrepreneurial orientation (B = .151, beta = .218, p = .055) and IT utilization (B = .151, beta = .187, p = .072) were positive but did not reach the conventional .05 threshold after adjustment for the other predictors.

Originality/Value – By testing motivational, entrepreneurial, and digital factors in a single model within Indonesian employee cooperatives, the study shows that collectively relevant capabilities do not necessarily make equally strong unique statistical contributions. The findings refine performance priorities for locally embedded cooperatives and caution against interpreting digital adoption or entrepreneurial orientation as automatic performance gains.

Right, Not Reward: A Doctrinal Boundary for Managerial Tools in Zakat Governance

Andriyani Andriyani — 2026-08-01

Purpose – This conceptual study examines the doctrinal limits of managerial practices in zakat governance by distinguishing managerial tools that facilitate the delivery of divinely mandated rights from those that redefine eligibility for zakat recipients. It addresses the growing adoption of nonprofit management practices in Islamic social finance and their implications for Shariah compliance.

Design/methodology/approach – The study employs an integrative conceptual approach by drawing on the Qur'an, Sunnah, classical juristic scholarship across the four Sunni schools, contemporary fatwas of the International Islamic Fiqh Academy and the Indonesian Council of Ulama, and an integrative-critical review of zakat governance literature indexed in Scopus, Web of Science, and DOAJ (2013–2025).

Findings – The study classifies managerial practices into five categories: verification, administrative efficiency, needs-based sequencing, conditionality, and performance-based selection. It argues that only performance-based selection, in its strong form, conflicts with Shariah by transforming the fixed right of eligible beneficiaries into a reward for projected productivity. The findings further support severity-based prioritisation while rejecting productivity-based beneficiary selection and propose a governance framework consisting of six design principles and five testable propositions.

Originality/value – This study provides a jurisprudential framework that reconciles managerial effectiveness with doctrinal fidelity by distinguishing permissible administrative innovations from practices that alter zakat entitlement. It offers a practical governance model for Islamic social finance institutions seeking to improve efficiency without compromising Shariah principles.

Perceived Capacity to Maintain Food Access under Extractive Pressure: Evidence from Rice-Farming Households in Bangka, Indonesia

M. Afdal Samsuddin — 2026-08-05

Purpose – This study examines the associations of perceived mining impacts, perceived climate variability, perceived market access, and adaptation strategies with households’ Perceived Capacity to Maintain Food Access (PCMFA) among rice-farming households in Bangka and South Bangka Regencies, Indonesia, using the Sustainable Livelihood Framework (SLF).

Design/methodology/approach – A structured survey was conducted among 107 lowland rice-farming households. Data were analysed using Ordinary Least Squares regression with White heteroskedasticity-consistent robust standard errors.

Findings/Results – Perceived mining impacts were negatively and significantly associated with PCMFA. Perceived market access and adaptation strategies were positively and significantly associated with PCMFA, with market access showing the strongest positive standardised association. Perceived climate variability did not show a statistically significant direct association with PCMFA at the 5% level. The findings indicate that PCMFA is associated with both mining-related vulnerability pressures and livelihood capacities.

Originality/Value – This study applies the SLF in an extractive rural setting by distinguishing mining impacts and climate variability as vulnerability pressures from market access and adaptation strategies as livelihood capacities. It shows that mining-related pressure remains negatively associated with households’ perceived capacity to maintain food access, while market access and adaptation strategies are associated with higher PCMFA. The findings support integrated environmental protection, market access, and livelihood-strengthening interventions in mining-affected agricultural areas.

Analysis of the Role of Digital Marketing in Improving Marketing Performance: A Systematic Literature Review

La Ode Sugianto — 2026-08-05

Purpose – This study synthesizes the contemporary literature on the relationship between digital marketing and marketing performance. It aims to identify the theoretical perspectives, underlying mechanisms, and research gaps explaining how digital marketing contributes to organizational performance.

Design/methodology/approach – This study employs a Systematic Literature Review (SLR) following the PRISMA framework. A structured search of the Scopus database covering publications from 2020–2025 identified 81 eligible peer-reviewed journal articles, which were analyzed using narrative synthesis.

Findings – The review demonstrates that digital marketing is increasingly viewed as a strategic organizational capability rather than merely a promotional tool. Its contribution to marketing performance is mediated through customer analytics, customer relationship management, organizational learning, innovation capability, data-driven decision-making, and digital transformation. The findings also highlight Resource-Based View (RBV) and innovation capability as dominant theoretical perspectives, while revealing inconsistencies in marketing performance measurement and limited theoretical integration.

Originality/Value – This study integrates fragmented evidence into a comprehensive conceptual framework linking digital marketing, organizational capabilities, innovation capability, and marketing performance. It clarifies the mechanisms underlying this relationship, identifies key research gaps, and provides directions for future empirical research and managerial practice.

From Relational Care Quality to Digital Health Literacy: The Mediating Role of Patient Engagement and Moderating Role of Patient Satisfaction

Made Santika — 2026-08-06

Purpose – Indonesian regional hospitals face pressure to expand digital health services, yet whether patient engagement builds the digital literacy needed to use them, and under what conditions, remains untested. This study examined whether perceived care continuity, practitioner communication, and perceived empathic care predict patient digital literacy directly and indirectly through patient engagement, and whether patient satisfaction moderates the engagement-to-digital-literacy path.

Design/methodology/approach – This study used partial least squares structural equation modeling (PLS-SEM) on data from 400 patients across three Type B hospitals in Makassar, Indonesia.

Finding/Results – All three relational care quality constructs significantly predicted patient engagement (R² = .499), which significantly predicted digital literacy (β = .531, R² = .475). Care continuity and communication retained significant direct effects on digital literacy, while empathic care operated entirely through engagement. Patient satisfaction alone did not predict digital literacy, but its interaction with engagement was significant (β = .238), nearly tripling the effect from β = .293 among less-satisfied patients to β = .769 among more-satisfied patients. Confirmatory tetrad analysis supported the reflective measurement model, and reliability and validity criteria were met.

Originality/Value – Findings suggest patient engagement functions as a developmental pathway to digital literacy, conditional on satisfaction, offering hospital managers a sequencing rationale for pairing digital-service rollouts with service-quality improvement.

Vendor Satisfaction in E-Procurement: The Roles of System Quality, Service Quality, Transparency, and Trust

Farah Nabilla Putri — 2026-08-07

Purpose – Evaluating vendor satisfaction is increasingly important because it supports the sustainability of the partnership relationship and the achievement of the company’s Key Performance Indicators (KPIs). However, measurement of vendor satisfaction in SMARTGEP remains limited, so it cannot provide a comprehensive picture of the factors affecting it. Therefore, this study aims to analyze how system quality, service quality, and transparency shape vendor satisfaction through trust in the SMARTGEP e-procurement system.

Design/methodology/approach – This study uses a quantitative approach, collecting data from 108 respondents via an online survey distributed to SMARTGEP user vendors. The data were analyzed using the PLS-SEM method.

Finding/Results – The results showed that six of the seven proposed hypotheses were significantly supported, while one hypothesis, namely the influence of system quality on vendor satisfaction, was not found to be significant. In addition, this study identified three indirect influences on vendor satisfaction, with trust as a mediator.

Originality/Value – Provide insights for improving vendor satisfaction in digital procurement systems.

Green Financing, Board Gender Diversity, and Firm Value: The Moderating Role of Capital Adequacy Ratio in Indonesian Banks

I Kadek Bagiana — 2026-08-07

Purpose – This study aims to examine the effects of green financing and board gender diversity on firm value, as well as the moderating role of Capital Adequacy Ratio (CAR), in banking companies listed on the Indonesia Stock Exchange during 2021–2024.

Design/methodology/approach – This study employs a quantitative explanatory approach using panel data regression analysis. The sample consists of 47 listed banks observed over the 2021–2024 period, resulting in 188 firm-year observations. Firm value is proxied by PBV, while green financing, board gender diversity, and CAR serve as the main explanatory variables. Profitability, non-performing loans, and firm size are included as control variables.

Finding/Results – The results show that green financing and CAR have positive and significant effects on firm value. In contrast, board gender diversity has a negative and significant direct effect. The moderating analysis further reveals that CAR weakens the positive effect of green financing on firm value but strengthens the effect of board gender diversity on firm value.

Originality/Value – The study contributes to the sustainable finance and corporate governance literature by demonstrating that market valuation in the banking sector is shaped not only by sustainability and diversity initiatives, but also by the bank’s underlying financial capacity. Practically, the findings suggest that banks should enhance the credibility of green financing strategies and ensure that board gender diversity is embedded more substantively within governance structures.

Transformation of Pesantren's Role in the Islamic Economic Ecosystem: From Islamic Educational Institution to Agent of Community Empowerment

Ririn Noviyanti — 2026-08-09

Purpose – This study examines the transformation of pesantren from Islamic educational institutions into community empowerment agents within the Islamic economic ecosystem. It explores strategies for economic self-sufficiency, empowerment mechanisms, and key implementation challenges.

Design/methodology/approach – This study develops a conceptual framework through a literature-based approach, combining systematic literature review elements with secondary quantitative data. A total of 122 documents published between 2020 and 2026 were synthesized, alongside secondary data from Kemenag RI, P3M, LIPI, BPS, and OJK.

Findings – The findings indicate that only 28% of pesantren operate independent business units, while 72% remain dependent on donations. Major challenges include limited access to shariah financing, business legality gaps, and low digital literacy. The analysis also identifies a digitalization paradox, where digital adoption is strongly associated with higher income despite its relatively low implementation across pesantren.

Originality/Value – This study contributes by conceptualizing pesantren as theologically embedded hybrid organizations and proposing a conceptual framework for the Pesantren Economic Independence Index (PEII). It further introduces the concepts of virtuous institutional recursion and the legitimacy–efficiency paradox, providing a foundation for future empirical research on Islamic educational institutions and community economic empowerment.

The Effect of Entrepreneurship Learning and Market Orientation on the Performance of Msme Precious Metal Craft Businesses with Innovation as A Mediating Variable

Ratnah Suharto — 2026-08-09

Objective – This study aims to investigate and analyze the influence of entrepreneurship education and market orientation on the business performance of micro, small, and medium enterprises (MSMEs) in the precious metal craft sector in Makassar City, with product innovation serving as a mediating variable.
Design/methodology/approach – The data collection process used relies on a quantitative approach, with data collection techniques including observation, questionnaires, and documentation. In this study, the sample consisted of 100 MSMEs operating in the precious metal craft sector in Makassar City.
Findings/Results – The results of the study indicate that entrepreneurship learning has a significant positive influence on business performance, while market orientation also shows the same impact. In addition, product innovation makes a positive and significant contribution to learning outcomes. Furthermore, product innovation is also proven to function as a mediating variable between entrepreneurship learning and business performance, as well as between product orientation and business performance itself.
Originality/Value – The essence of this research is that the competitive success and performance of MSMEs in the precious metal craft sector is determined by more than just their ability to produce quality goods, but is also influenced by the strength of entrepreneurs to continue learning, understand market demands, and transform the knowledge gained into useful innovations. In other words, entrepreneurial learning and market orientation will have a broader impact on business performance if supported by the ability to innovate continuously.

Green Entrepreneurship, Green Innovation, Green Finance, and Organisational Culture: Differential Effects on MSME Performance and Business Sustainability in Medan

Pasca Dwi Putra — 2026-08-09

Purpose – This study examines the effects of green entrepreneurship, green innovation, green finance, and organisational culture on MSME performance and sustainability, while testing MSME performance as a mediating pathway.

Design/methodology/approach – A causal quantitative survey was conducted among 656 MSMEs in Medan, Indonesia, using non-probability mixed-frame sampling. The data were analysed using Partial Least Squares Structural Equation Modelling (PLS-SEM).

Findings – The findings reveal differential and contrasting effects of green practices. Green finance significantly improves MSME performance but reduces sustainability, while green entrepreneurship reduces performance but improves sustainability. Green innovation positively affects both outcomes, although its effect on performance is marginally significant. Organisational culture significantly enhances sustainability but has no significant effect on performance. MSME performance also has a significant negative effect on sustainability, indicating a potential trade-off between short-term performance and long-term sustainability.

Originality/Value – This study proposes a provisional Green Capability Trade-Off perspective, challenging the assumption that green practices universally generate win–win outcomes. It highlights the need to recognize the differentiated effects of green capabilities when designing strategies for sustainable MSME development.

Determinants of Patient Trust in Public Hospitals: The Mediating Role of Perceived Service Quality

Mirna Fauziah Lailly — 2026-08-10

Purpose – This study examines whether Perceived Service Quality (PSQ) mediates the effects of Professional, Competency, Facility, and Government on Patient Trust among patients of public general hospitals (RSUD) in Indonesia, drawing on Service Quality Theory, Organizational Trust Theory, and the Structure-Process-Outcome framework.

Design/methodology/approach – This study employed a positivist, cross-sectional survey design with a seven-point Likert questionnaire administered to 350 patients of public general hospitals (RSUD) in Indonesia, analyzed using PLS-SEM with 5,000-subsample bootstrapping, Confirmatory Tetrad Analysis (CTA-PLS), the Cross-Validated Predictive Ability Test (CVPAT), Importance-Performance Map Analysis (IPMA), and Necessary Condition Analysis (NCA).

Finding/Results – Based on 350 valid respondents, eleven of thirteen hypotheses were supported: seven of nine direct paths (H1, H4–H9) were significant, while Professional→Trust (H2) and Facility→Trust (H3) were not; all four mediation paths (H10–H13) were significant, with Perceived Service Quality fully mediating the Facility and Professional effects and partially mediating the Competency and Government effects. The model explained 68.8% of the variance in Patient Trust (R²) and outperformed a naive linear-model benchmark in the Cross-Validated Predictive Ability Test (CVPAT).

Originality/Value – The study positions Perceived Service Quality as an explicit mediator reconciling mixed prior evidence on whether individual service-quality dimensions exert a direct effect on patient trust, extending single-dimension findings to Indonesia's public hospital system.

Market Sensing, Health Consciousness Alignment, and Marketing Performance: A Moderated Mediation Model

Yosia Tutus Angriawan Jaya Diningrat — 2026-08-11

Purpose – Market sensing capability shows inconsistent effects on marketing performance across prior SME studies, including Indonesia's herbal medicine sector, where firms hold rich biodiversity-based knowledge yet underperform commercially. This study tests value co-creation capability as the mediator reconciling these conflicting findings, with digital engagement capability as a boundary condition.

Design/methodology/approach – Data from 300 herbal SME owners and managers in East Java were analyzed with PLS-SEM in SmartPLS 4, complemented by CTA-PLS, the cross-validated predictive ability test (CVPAT), importance-performance map analysis, and necessary condition analysis (NCA).

Finding/Results – Market sensing capability and health consciousness alignment significantly strengthened value co-creation capability (β = 0.420, 0.344; p < .001), which significantly predicted marketing performance (β = 0.483, p < .001) and complementarily (partially) mediated market sensing capability's effect on marketing performance while fully mediating health consciousness alignment's effect. Digital engagement capability had no direct effect but significantly strengthened the co-creation-to-performance path (β = 0.090, p = .003). CVPAT confirmed predictive superiority over a naive benchmark throughout and over a linear benchmark for marketing performance and the overall model; NCA identified value co-creation capability as the strongest necessity condition.

Originality/Value – The findings offer one plausible explanation for a documented contradiction in the SME literature, consistent with value co-creation capability, rather than an unstable sensing effect, accounting for divergent prior results in this sample, and giving herbal SME managers an evidence-based investment priority.

Evaluating the Emerging Field of Entrepreneurship Education and Islamic Business: A Bibliometric and Thematic Analysis

Ruksana Banu — 2026-08-12

Purpose – The main purpose of this study was to examine the emerging field of entrepreneurship education and Islamic business from perspective on the existing studies. The study evaluated publication trends, research gaps, major themes and focused on how entrepreneurship education with Islamic values and principles influences entrepreneurial activities and socio-economic development. Design/methodology/approach – A PRISMA-driven screening process was used, and 19 final journal articles were identified by relying on Scopus-indexed articles published between 2019 and 2026.

A bibliometric and a thematic review approach was applied. The bibliometric analysis supported examining the scientific publication trends and conducting analysis based on Bradford's and Lotka’s Law. MAXQDA software was used to perform thematic analysis, while the subcode-driven operational codebook supported identifying key themes based on article abstracts and key words.

Findings/Results – The key findings indicate that the research on entrepreneurship education and Islamic business publication increased after 2023 and the literature is spread across diverse journals suggesting a multi-disciplinary approach to the study. However, the field of study of entrepreneurship education and Islamic business is still developing. Thematic analysis has identified seven themes, out of which three themes such as entrepreneurial intention for Islamic business, sustainable and green Islamic entrepreneurship, and women in Islamic entrepreneurship can be considered emerging themes. Originality/Value – The study contributes by proposing a conceptual framework associated with entrepreneurship education and entrepreneurial intention via Islamic entrepreneurial competences. This framework can be tested in the future based on both a quantitative and qualitative research approach. This would lead to positive impact on socio-economic and sustainable development.

The Innovation Performance in Digital Ecosystems: The Roles of Platform Openness, Strategic Collaboration, Knowledge Sharing, and Absorptive Capacity

Mukhtar Galib — 2026-08-12

Purpose – This study examines how innovation performance is generated within digital ecosystems by investigating the roles of platform openness, strategic collaboration, knowledge sharing, and absorptive capacity. It focuses on whether platform openness and strategic collaboration directly enhance innovation performance or operate through knowledge sharing, and whether absorptive capacity strengthens these relationships.

Design/methodology/approach – A quantitative research design was employed using survey data collected from 218 firms operating within digitally embedded ecosystems across Jakarta, Surabaya, Bandung, and Makassar, Indonesia. Respondents were selected through purposive sampling, and the data were analyzed using Structural Equation Modeling with Partial Least Squares (SEM-PLS).

Finding/Results – The findings indicate that platform openness positively influences innovation performance, with knowledge sharing partially mediating this relationship. Strategic collaboration does not directly influence innovation performance but has a significant indirect effect through knowledge sharing, indicating full mediation. Absorptive capacity does not significantly moderate the proposed relationships.

Originality/Value – The study demonstrates that innovation performance in digital ecosystems is driven primarily by knowledge-sharing processes rather than platform openness or strategic collaboration alone. These findings highlight the importance of developing mechanisms that facilitate knowledge exchange to convert ecosystem participation and inter-organizational collaboration into innovation outcomes.

Digital Capabilities, Data-Driven Decision-Making, and Operational Performance in SMEs: A Moderated Mediation Model

Riyanti Hamdani — 2026-08-12

Purpose – This study examines how digital transformation, analytic capability, and learning system orientation drive operational performance among SMEs through data-driven decision-making (DDDM), and tests whether environmental dynamism moderates the DDDM-performance link, offering a possible explanation for a contradiction in prior digital capability research between studies reporting a direct performance effect and studies reporting none.

Design/methodology/approach – The study surveys 275 Indonesian SME owners and managers through purposive and snowball sampling, analyzed with partial least squares structural equation modeling (PLS-SEM) in SmartPLS 4, supplemented by confirmatory tetrad analysis, a cross-validated predictive ability test, and necessary condition analysis (NCA).

Finding/Results – Six of the seven hypothesized relationships are supported, including a staged effect of digital transformation on analytic capability (H5); the hypothesized moderating effect of environmental dynamism (H6) is not supported. A competing model with direct effects added, estimated directly in SmartPLS, shows data-driven decision-making fully mediates the effects of all three antecedents (digital transformation, analytic capability, and learning system orientation) on operational performance. DDDM strongly predicts operational performance, environmental dynamism has a significant direct but no significant moderating effect, and learning system orientation is confirmed as a necessary condition for performance. Discriminant validity and out-of-sample predictive power are confirmed.

Originality/Value – The study extends digital capability research by reframing learning orientation's necessity and environmental dynamism's moderating effect into supported propositions, and by specifying data-driven decision-making as a plausible mechanism reconciling conflicting findings in prior studies, giving SME managers a mechanism-based roadmap for digital investment.

Africa’s Energy Security and Influence on Inclusive Human Development: Examining the Role Played by Governance

Marilyn Edoh Ofeh — 2026-08-13

Purpose – Looking at how a shift from dirty energies to clean advanced energies would affect livelihood and the fight against the long-aged poverty and inequality plight especially in Africa, has topped academic discourse. This study examines the effect of energy security on inclusive human development in Africa.

Design/methodology/approach – The study adopts a quantitative approach by using the panel regressions like the GMM, quantile regression, and mediation analysis as estimation strategies adopting data from 2010 to 2022 for 34 African countries. Secondary data were obtained from the WDI, WGI, OPEC, and UNDP.

Finding/Results – Firstly, a unit increase in energy security will lead to an increase in inclusive human development in Africa, by unit increases between 0.42 to 4.25. Secondly, those in the upper inclusive human development quantile (Q90) have a better gain from energy security when compared to the lowest quantile (Q10) [0.073 and 0.018 respectively]. Thirdly, lower middle income countries have a better output than lower income countries, with respect to an increase in inclusive human development (0.049 and 0.039 respectively). Lastly, governance acts as a good mediator in the energy security – inclusive human development nexus. This shows that energy security positively influences inclusive human development, through improvement in health, livelihood earnings, and education.

Originality/Value – Energy security delivers the greatest growth dividends where institutions strengthen infrastructure and absorptive capacity—reminding policymakers that reliable energy alone cannot close development gaps without these complementary foundations.

Self-Efficacy and Work Readiness: Mediating Role of Perceived Social Support among Indonesian University Students

Allya Roosallyn Assyofa — 2026-08-13

Purpose – This study examines the structural relationship between general self-efficacy, perceived social support, and work readiness among university students. Drawing on the agentic perspective of Social Cognitive Theory (SCT), it positions self-efficacy as a key cognitive factor influencing environmental appraisal and workforce readiness.

Design/methodology/approach – A quantitative cross-sectional survey was conducted among 217 final-year university students in Indonesia. The constructs were measured using established reflective scales, and the data were analyzed using Partial Least Squares Structural Equation Modelling (PLS-SEM).

Findings – Self-efficacy significantly predicts perceived social support (β = 0.761, p < 0.001) and work readiness (β = 0.664, p < 0.001). However, perceived social support does not significantly affect work readiness (β = 0.092, p = 0.455) and does not mediate the relationship between self-efficacy and work readiness (β = 0.070, p = 0.463). The findings therefore support a direct-only relationship in which internal psychological agency plays a more decisive role in workforce readiness.

Originality/Value – This study extends SCT-based employability research by challenging the assumption that external social support is a primary determinant of career readiness. The findings highlight self-efficacy as a critical psychological resource and suggest that higher education and employers should prioritize experiential learning and mastery-building activities to strengthen students’ workforce readiness.

Policy Uncertainty and Asymmetric Volatility in Indonesia's Financial Sector: EGARCH Evidence

Mohammad Syifaul Qulub — 2026-08-13

Purpose – This study examines the effects of domestic and global economic policy uncertainty on Indonesia's financial sector volatility, given its dominant market position and sensitivity to regulatory and capital flow shocks.

Design/methodology/approach – Monthly IDX Financial Index (JKFINA/IDXFINANCE) returns from January 2011 to December 2025 are analyzed using an EGARCH (1,1) model, with the World Uncertainty Index (WUI) for Indonesia, US EPU, and VIX entered jointly into the variance equation. Because default analytic standard errors proved unreliable in finite samples, inference relies on residual bootstrap, supported by distributional, subsample, and structural-break robustness checks.

Finding/Results – A leverage effect is confirmed and robust to bootstrap-based inference, with negative shocks raising conditional volatility more than equivalent positive shocks. None of the three uncertainty proxies (WUI, EPU, VIX) is robust under this inference, and neither structural break test finds evidence of a break around COVID-19.

Originality/Value – This study demonstrates, through multi-start optimization, residual bootstrap, and structural break testing, that default analytic standard errors from EGARCH-X estimation can be materially unreliable in finite monthly samples. Although this evidence comes from a single application, the underlying mechanism plausibly extends to similarly specified models; a bootstrap-based inferential remedy is proposed. It is also among the first studies to jointly incorporate the WUI for Indonesia, US EPU, and VIX into a single EGARCH variance equation for Indonesia's financial sector.

Determinants of Workplace Internet Use among Indonesian Workers: Probit and Logit Analysis Using SAKERNAS 2023

Rendra Dwi Saputra — 2026-08-13

Purpose – This study analyzes the determinants of workplace internet use among Indonesian workers, treated here as one measurable dimension of digital technology adoption, using SAKERNAS August 2023 (N =465,204).

Design/methodology/approach – Binary probit and logit models, weighted using BPS individual sampling weights with the full linearized variance estimator (strata and PSU), and Average Marginal Effects (AME) for twelve explanatory variables.

Finding/Results – Education ≥ senior high school again has the largest effect once BPS sampling weights are applied (AME = 0.222; p < 0.01), followed by urban location (AME = 0.122), Kartu Prakerja awareness (AME = 0.137), and employee/wage-worker status (AME = 0.056). Disability reduces adoption probability (AME = -0.070; OR = 0.663). Internet use is associated with 53.6 percent higher earnings (exact semi-log transformation of β = 0.429), rising to 61.7 percent for internet users who have also attained senior high school education or above; both are conditional associations rather than a causal wage return. The weighted model achieves acceptable in-sample fit (AUC = 0.82; Pseudo-R² = 0.24).

Originality/Value – To our knowledge, one of the first nationally representative micro-econometric studies of workplace internet adoption in Indonesia; identifies disability as a new determinant with double-penalty implications for digital labor market inclusion.

Strategic Management Accounting and Cooperative Performance: The Moderating Role of Supervisory Board Capability

Made Susilawati — 2026-08-14

Purpose – This study examines the associations of Strategic Management Accounting (SMA) and Supervisory Board Capability (SBC) with perceived cooperative performance and assesses whether SBC moderates the relationship between SMA and performance.

Design/methodology/approach – A cross-sectional, matched-dyadic, multi-informant design was applied to 99 active cooperatives. Executive-management informants reported SMA use and perceived cooperative performance, while supervisory-board informants independently reported SBC. The two role-specific records were linked using cooperative identification codes, and no cross-informant averaging was conducted. The resulting 99 matched cooperative dyads were analyzed using partial least squares structural equation modeling with 5,000 bootstrap resamples.

Finding/Results – SMA was positively associated with perceived cooperative performance (β = 0.361, p < 0.001), and SBC was also positively associated with performance (β = 0.342, p < 0.001). The SMA × SBC interaction was positive and statistically significant (β = 0.320, p = 0.046), but its small effect size (f² = 0.062) and p value close to the conventional threshold indicate that the moderating pattern should be interpreted cautiously.

Originality/Value – This study defines supervisory board capability as the board’s collective ability to apply financial, regulatory, risk-monitoring, and governance expertise through strategic questioning, accountability, and corrective follow-up. The multi-informant design reduces source overlap between board capability and management-rated constructs, but it does not establish causality or eliminate all common-method concerns.

Corporate Governance, Firm Size, and Firm Value: Does Profitability Matter? Evidence from Indonesian State-Owned Enterprises

Kusmanto Kusmanto — 2026-08-14

Purpose – This study examines the effects of Good Corporate Governance (GCG) and firm size on firm value and investigates whether profitability, measured by Return on Assets (ROA), moderates these relationships in Indonesian State-Owned Enterprises (SOEs).

Design/methodology/approach – This study employs a quantitative approach using secondary data from 14 SOEs observed over the 2021–2025 period, resulting in 70 firm-year observations. The data were analyzed using multiple regression and Moderated Regression Analysis (MRA) with IBM SPSS Statistics 26. After outlier screening, 64 observations were used in the final analysis.

Finding/Results – The results show that GCG has a positive and significant effect on firm value, while firm size has a negative and significant effect. ROA has a positive and significant effect on firm value. ROA does not significantly moderate the relationship between GCG and firm value, but significantly moderates the relationship between firm size and firm value in a negative direction. These findings indicate that profitability does not uniformly strengthen the effects of corporate characteristics on market valuation.

Originality/Value – This study contributes to the literature by demonstrating that the role of profitability as a moderator depends on the specific corporate characteristic being examined. The findings imply that SOE management should focus not only on governance quality and asset growth but also on the efficiency and productivity of corporate resources in creating firm value.

The Effect of Learning Innovation and Digital Transformation on Student Quality: The Mediating Role of Self-Directed Learning

Fernando Belo — 2026-08-14

Purpose – Indonesian universities expanded digital learning platforms after 2020, yet many undergraduates still fail to convert that access into consistent, self-managed study behavior. Prior research disagrees on whether digitalization improves student-level outcomes, leaving unresolved whether learning innovation and digital transformation actually improve student quality directly, or only through self-directed learning. This study tests seven hypothesized paths linking learning innovation and digital transformation to student quality, directly and through self-directed learning as a mediator, grounded in Self-Determination Theory.

Design/methodology/approach – A positivist, cross-sectional survey of 312 undergraduate students at a private university in Surabaya, Indonesia, following an 85-respondent pilot test, analyzed with Partial Least Squares Structural Equation Modeling in SmartPLS 4, supported by Confirmatory Tetrad Analysis, a Cross-Validated Predictive Ability Test, and a full collinearity assessment.

Findings – The measurement model showed strong reliability and validity, and the structural model explained a substantial share of variance in student quality. Learning innovation and digital transformation both significantly raised student quality directly, and learning innovation significantly raised self-directed learning, which in turn significantly raised student quality and significantly mediated the learning-innovation-to-quality relationship. Digital transformation, however, showed no significant relationship with self-directed learning, so self-directed learning did not mediate the digital-transformation-to-quality relationship.

Originality/Value – The findings show learning innovation and digital transformation reach student quality through two distinct routes rather than one shared mechanism, extending Self-Determination Theory into a digitally mediated higher education setting and clarifying that pedagogical innovation, not digital access alone, is the stronger lever for building student autonomy.

Digital Marketing Capability, Market Orientation, and Innovation on Micro Culinary Performance: Social Capital's Moderating Role

Dhevi Dadi Kusumaningtyas — 2026-08-15

Purpose – This study examines whether digital marketing capability, market orientation, and innovation raise the performance of micro culinary enterprises in Surakarta (Solo), Indonesia, and whether social capital moderates each capability-performance relationship.

Design/methodology/approach – Survey data from 250 owner-managers of micro culinary enterprises were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM), Confirmatory Tetrad Analysis, and Necessary Condition Analysis (NCA).

Finding/Results – Digital marketing capability, market orientation, and innovation each significantly and positively predicted performance. All four constructs, including social capital, met the threshold for a meaningful necessary condition, though digital marketing capability's bottleneck is largest only near the extreme upper tail of performance. Social capital significantly strengthened only the market orientation-performance relationship; its large direct coefficient should be read alongside its high variance-inflation factor rather than as evidence of dominance.

Originality/Value – The study offers evidence that Social Capital Theory's boundary-condition role can be selective rather than uniform, based on a single significant interaction of three tested, and extends the Resource-Based View to micro-scale, informal culinary enterprises, offering a preliminary basis for sequencing capability-building support pending replication.

Managing cybersecurity vigilance through people, process, and technology: A mixed-methods study

Bondan Widiawan — 2026-08-15

Purpose - This study examines how the People, Process, and Technology (PPT) pillars jointly shape cybersecurity vigilance in Indonesian university settings and whether formal process becomes behaviorally consequential through human capability.

Design/methodology/approach - A quantitatively dominant mixed-methods design combined survey data from 1,684 respondents with interviews involving nine cybersecurity experts. Covariance-based structural equation modeling was conducted in IBM SPSS AMOS, while expert evidence was used for explanatory triangulation.

Finding/Results - People and Technology were significantly associated with vigilance, whereas Process had no significant direct relationship. Process operated indirectly through People (indirect effect = 0.402; Sobel Z = 4.331; p < .001). Digital literacy and perceived regulatory reinforcement strengthened selected PPT-vigilance relationships.

Originality/Value - The study reframes PPT as an interdependent organizational governance architecture rather than three competing pillars. It shows that formal process requires human internalization and that technical, behavioral, and regulatory conditions should be managed as an integrated cybersecurity capability.

Perceived Quiet Firing and Turnover Intention in Education Technology Startups: A Serial Mediation Model

Diyan Novika — 2026-08-16

Purpose – This study examines the sequential psychological processes theoretically proposed to connect perceived quiet firing with turnover intention among employees in Indonesian Education Technology startups, with psychological contract breach and work disengagement specified as theoretically ordered mediators whose sequential arrangement reflects an established theoretical logic rather than an empirically verified temporal sequence.

Design/methodology/approach – Survey data were collected from 190 employees across eight Education Technology startups in Indonesia. Partial least squares structural equation modeling (PLS-SEM) was used to estimate direct, indirect, and serial mediation pathways among the four constructs.

Finding/Results – Psychological contract breach predicted work disengagement, while work disengagement emerged as the most proximate structural predictor of turnover intention. Neither the direct path from perceived quiet firing nor that from psychological contract breach to turnover intention reached significance once the mediators were included. Bootstrapping confirmed the significance of the indirect effects through work disengagement and through the serial pathway involving psychological contract breach and work disengagement.

Originality/Value – The study extends the employee withdrawal literature by embedding perceived quiet firing in an indirect effects model that treats psychological contract breach and work disengagement as distinct stages rather than interchangeable mechanisms. Their ordering follows from theory, not from temporal observation, and whether the sequence actually unfolds in this direction across time remains a question for longitudinal research. The findings carry practical implications for Education Technology startups seeking to identify and address early-stage relational risk factors before they solidify into voluntary attrition.

Microfinance for Women: Risk Mitigation and Its Impact on Household Welfare

Riduwan Riduwan — 2026-08-18

Purpose – This study examines financing risk, risk mitigation practices, and their contribution to household welfare in the Government Investment Center (PIP) ultra-micro financing program for women entrepreneurs.

Design/methodology/approach – This study employs a qualitative approach supported by descriptive quantitative data. Secondary data consist of outstanding financing (OS), non-performing financing (NPF), and borrower composition obtained from PIP financial reports over a seven-year period. Primary data were collected through in-depth interviews with PIP management, intermediary institutions, and women borrowers, complemented by focus group discussions.

Finding/Results – The findings show that women accounted for approximately 95% of financing recipients, while the average NPF remained at only 0.13%, indicating consistently low financing risk. The study further reveals that risk mitigation extends beyond financing procedures through continuous business mentoring, entrepreneurship training, marketing assistance, and the active involvement of intermediary institutions. These complementary interventions strengthen borrowers’ business capacity and contribute to improvements in household welfare.

Originality/Value – This study demonstrates that integrating financial services with non-financial support can effectively mitigate financing risk while enhancing women’s economic empowerment and household welfare. The findings provide practical implications for policymakers and microfinance institutions by highlighting the importance of combining financing with capacity-building interventions to promote sustainable financing and strengthen women's financial inclusion.

The Psychological Pathway to MSME Sustainability: Financial Literacy and Financial Efficacy

Dewi Khornida Marheni — 2026-08-18

Purpose – The purpose of this study is to examine the role of financial literacy and financial efficacy in building financial sustainability of MSMEs in Batam, Indonesia, where declining financial literacy rates and low entrepreneurial confidence may threaten MSMEs sustainability in the long term.

Design/methodology/approach – This study uses a quantitative method with 339 MSME owners and managers in Batam as respondent. Semi structured interviews with three MSME entrepreneurs were subsequently conducted solely to provide contextual explanations for the quantitative findings. The hypotheses were tested using partial least squares structural equation modeling (PLS-SEM) with SmartPLS.

Finding/Results – Financial attitude and financial knowledge were positively associated with financial literacy, while financial behavior does not. Financial literacy was positively associated with financial efficacy and financial sustainability, and financial efficacy mediates the relationship between financial literacy and financial sustainability.

Originality/Value – Rather than treating financial efficacy as an additional predictor, this study position it as the psychological mechanism through which financial literacy is translated into MSME sustainability. By integrating the theory of planned behavior and social cognitive theory. This study provides theoretical, contextual, and methodological contributions to the literature on financial sustainability.

Traditional Games, Character-Related Meanings, and Intangible Cultural Heritage: A Qualitative Multi-Site Study in South Sulawesi, Indonesia

Muh Rusdi — 2026-08-18

Purpose – This study examines how traditional games are understood and practiced as locally transmitted cultural knowledge, with particular attention to character-related meanings, educational possibilities, cultural identity, and intergenerational transmission in South Sulawesi.

Design/methodology/approach – A multi-site qualitative design with ethnographic elements was conducted in four contrasting contexts: Makassar City, Gowa Regency, Toraja Regency, and Sabutung Island in Pangkep Regency. Forty-five purposively selected participants comprised community/cultural custodians, parents and elders, children/adolescents, and local educators. Data were generated through semi-structured interviews, participant observation, and cultural documentation and were analyzed using Braun and Clarke’s thematic analysis framework.

Finding/Results – Four themes were identified: declining youth interest in traditional games; disruption of intergenerational cultural transmission; perceived educational and cultural value; and transformation from everyday practice toward ceremonial performance. The analysis also differentiates four practice categories children’s traditional play, traditional games/strategic or physical games, ritualized competition, and ceremonial cultural performance according to participation, ritual status, competitiveness, physical risk, cultural function, and everyday versus ceremonial use.

Originality/Value – The study offers an evidence-sensitive, context-specific framework for distinguishing traditional play from ritualized and ceremonial practices and proposes community-governed principles for possible educational revitalization. The findings support safeguarding and pilot educational use only where age appropriateness, safety, authenticity, and community custodianship are established.