Historically, investors have only viewed investments conventionally without looking at their behaviors. The intention formed by an individual will occur through attitude. As in the investment world, investors will intend to invest when there is a drive. The encouragement is formed through the values held by the investor. The evolution of the investment world makes investors not only see an investment conventionally, namely by looking at profit and loss, but also in terms of investors' financial behavior. Therefore, this study will explore the relationship between collectivism, materialism, and environmental attitude towards socially responsible investment (SRI). In addition, this study will also look at the relationship between attitude towards SRI and investor’s intention to invest in SRI. This research uses the PLS-SEM method with five latent variables mentioned earlier. The result of this study indicates a positive effect of attitude towards SRI on investment intention in SRI. In addition, environmental attitude shows a significant influence on attitude towards SRI. These findings suggest that companies can increase awareness of environmental issues to gain investor interest and build investor confidence to invest in the company.
Sun exposure with high ultraviolet radiation is one cause of skin damage human and skin cancer in Indonesia, especially Jakarta. This can be prevented by applying sunscreen with appropriate SPF content. Recently, many sunscreen products have come into the market, which is challenging a long-standing brand such as Nivea, which has been offering sunscreen products in Indonesia for a some time which is indicated by a decline in Nivea's Top Brand Index percentage from 2022 to 2024. This study is to investigate the effects of brand image and online customer reviews on customers' trust, focusing on how the two affect customers' loyalty to Nivea sunscreens in Jakarta. The data presented in this study were collected by applying questionnaires via Google Forms, with a total of 145 respondents. The data analysis technique used SmartPLS 4.0. The results of this study indicate that: brand image has a positive influence on customer trust, online customer reviews have a positive influence on customer trust, and brand image has a positive influence on customer loyalty, Online customer reviews have no positive influence on customer loyalty, customer trust has a positive influence on customer loyalty, customer trust has a significant mediating effect on brand image on customer loyalty. Customer trust has a significant mediating influence on online customer reviews and customer loyalty.
The study aims to determine the impact of hexagon fraud on the detection of potential fraudulent financial statements. The study identified several factors that may have contributed to the emergence of potentially fraudulent financial reporting. These factors included the financial stability of the pressure element, the ineffective monitoring of the opportunity element, the change of auditor of the rationalization element, changes in the director of the capability element, the CEO duality of the ego element, and the political connection of the collusion element. The Eckel Index projects the possibility of fraudulent financial statements. The sample in this study is a banking company listed on the Indonesian Stock Exchange in the period 2018 to 2022. Sample obtained by purposive sampling. This study will highlight the possibility of fraudulent financial reporting, particularly regarding income smoothing practices used by Indonesian banks. The insights obtained from the hexagon fraud analysis can be leveraged by a banking institution to enhance its sustainable management procedures in the future.
The increasing globalization of business operations has heightened the need for leaders capable of navigating culturally diverse environments. This study explores the interrelationships between cultural intelligence (CQ), communication effectiveness, global leadership, and organizational effectiveness within the context of India’s hospitality sector. This research examines how these constructs interact to influence organizational outcomes by using exploratory and confirmatory factor analyses (EFA and CFA) and structural equation modeling (SEM). Data collected from 360 managers working in various sub-sectors of the hospitality industry reveal significant positive relationships between the constructs. The findings emphasize the importance of CQ as a foundational competency for communication effectiveness and global leadership, which collectively enhance organizational performance. This paper contributes to the growing discourse on leadership in multicultural and emerging market contexts, offering practical insights for organizations and policymakers.
This study aims to analyse the effect of COVID-19 and Gross Domestic Product (GDP) on the volume of stock transactions and stock prices in the tourism company group listed on the IDX in 2018-2023. This study uses quantitative research methods with panel data analysis and is processed using Eviews 12. The dependent variable is the volume of stock transactions and stock prices. The independent variables in this study are the value of Gross Domestic Product (GDP) and COVID-19, which are used as dummy numbers. This research shows that COVID-19 has a significant negative effect on the price of shares and a significant positive effect on the volume of stock transactions. Meanwhile, Gross Domestic Product (GDP) does not affect changes in stock prices or stock transaction volume.
Sustainable human resource management on employee intrinsic motivation manifests in work engagement, employability, and job satisfaction. This research uses a quantitative-deductive method because it has a clear and measurable population and sample. This research employs the purposive sampling method with permanent employees of an Indonesian state-owned construction company in the construction sector in Indonesia as the respondents. Structured equation model – partial least squares (SEM PLS) is used in processing and analyzing the data obtained. The research results explain the strong influence of SHRM on work engagement, employability, and job satisfaction. This research contributes academically to provide a new perspective for company management to apply the concept of sustainability in human resource management. The findings from this research can be used by policymakers to develop policies for SHRM in their organization. The application of the sustainability concept to human resource management allows companies to gain opportunities to achieve performance from a financial, social, and ecological perspective in the long term.
This study examines the influence of perceived organizational support and work environment on employee motivation and performance, as well as the mediating role of motivation. The research was conducted at PT RST, a company that needs improvements in its human resource management. Data were collected from 150 employees using a questionnaire and analyzed using the SEM-PLS method with the help of SmartPLS version 3 software. The results of the analysis indicate that organizational support has a positive effect on both motivation and employee performance. The work environment also positively influences motivation, but does not directly affect performance. Furthermore, work motivation is proven to mediate the relationship between organizational support, work environment, and employee performance. Based on these findings, it is recommended that PT RST enhance organizational support and improve the quality of the work environment to foster optimal performance and build a competitive and sustainable company.
E-wallets are a transaction tool that is most in demand by the people of Indonesia. One of the e-wallets that has a high number of enthusiasts in Indonesia is ShopeePay. This study aims to determine the factors influencing interest in using the ShopeePay e-wallet as a transaction tool for Generation Z in Malang. This study uses the TAM (Technology Acceptance Model) model with independent variables of perceived usefulness, perceived ease of use, perceived risk, perceived security, trust, and the dependent variable, namely interest in use. This research is quantitative. This research uses a purposive sampling method with data analysis using Partial Least Squares (PLS). The criteria in this study are members of Generation Z, born between 1997 and 2007, who use the ShopeePay e-wallet. The total number of respondents is 100 individuals. The results showed that perceived usefulness, perceived ease of use, and trust affect the interest in using the ShopeePay e-wallet. Meanwhile, perceived risk and perceived security do not affect interest in using the ShopeePay e-wallet.
This study examines how tax competition, through statutory Corporate Income Tax (CIT) rates and tax holiday schemes, affects inward foreign direct investment (FDI) in the ASEAN-6 countries: Indonesia, Singapore, Malaysia, Thailand, the Philippines, and Vietnam. Using panel data from 2014 to 2023, the analysis employs a feasibility test, complemented by T-tests, F-tests, R² tests, path analysis, and hypothesis testing to assess the direct and indirect effects of tax competition instruments on FDI. The findings reveal that tax competition via the CIT rate significantly influences FDI in partial and simultaneous models. Conversely, tax holidays demonstrate a significant impact only when examined simultaneously, not individually. When both instruments are analyzed, they exert a statistically significant combined effect, with a total impact value of 0.472. These results suggest that while CIT reductions are more effective as standalone tools, the coordinated use of both CIT cuts and tax holidays can enhance the effectiveness of tax competition in attracting FDI. However, the effectiveness of such incentives depends on policy design and institutional readiness. Therefore, policymakers in ASEAN-6 are encouraged to adopt a multidimensional strategy that integrates well-targeted fiscal incentives with broader institutional and structural reforms to foster investor confidence and support a more resilient investment climate.
Sustainability reporting is becoming increasingly important for companies across various industries due to the growing awareness of sustainability issues and the stakeholders demand for sustainability performance information. However, sustainability reporting practices might differ throughout industries due to their specific characteristics. This study aims to compare sustainable reporting practices in financial and non-financial industries. A descriptive qualitative approach using secondary data is chosen in which the 2022 sustainability report was produced by the top ten financial and non-financial companies listed on the Indonesia Stock Exchange. This study uses content analysis with Landrum model categories and keyword frequency to evaluate the transparency levels of financial and non-financial industries’ sustainability reporting. The findings reveal that financial industries disclose more about the environment or ecology than non-financial industries that are more business- centered. The results of this study contribute to companies improving sustainable reporting practices and helping stakeholders understand sustainability information reported by companies in different industries so that they can make better decisions.
Historically, investors have only viewed investments conventionally without looking at their behaviors. The intention formed by an individual will occur through attitude. As in the investment world, investors will intend to invest when there is a drive. The encouragement is formed through the values held by the investor. The evolution of the investment world makes investors not only see an investment conventionally, namely by looking at profit and loss, but also in terms of investors' financial behavior. Therefore, this study will explore the relationship between collectivism, materialism, and environmental attitude towards socially responsible investment (SRI). In addition, this study will also look at the relationship between attitude towards SRI and investor’s intention to invest in SRI. This research uses the PLS-SEM method with five latent variables mentioned earlier. The result of this study indicates a positive effect of attitude towards SRI on investment intention in SRI. In addition, environmental attitude shows a significant influence on attitude towards SRI. These findings suggest that companies can increase awareness of environmental issues to gain investor interest and build investor confidence to invest in the company.
This research aims to examine the effect of social media and market orientation on SME performance mediated by competitive advantage in Riau Province. The novelty of this research, namely the use of the competitive advantage variable as an intervening variable, is still rarely studied in SMEs in Indonesia, and several previous studies have also shown a research gap. The population used in this research is SMEs in Riau Province. The sample in this research is 400 SMEs that were in accordance with predetermined criteria. The data used in this research are primary data with a questionnaire as the instrument. In addition, data collection in this research uses purposive sampling, where the number of respondents is 400. Data analysis uses Structural Equation Modeling (SEM) based on Partial Least Squares (PLS) with SmartPLS 4.0 software. The results obtained are (1) social media, market orientation, and competitive advantage have a significant effect on SME performance; (2) social media and market orientation have a significant effect on competitive advantage; (3) competitive advantage is significantly able to mediate the effect of social media on SME performance; (4) competitive advantage is not able to mediate the effect of market orientation on SME performance.
Given the recent substantial increase in market capitalization of bitcoin (BTC) and oil, both of them are considered alternative investments and could affect the traditional financial markets. This study compares the contagions between bitcoin (BTC) and oil to major American, European, and Asian equity markets. The contagion analysis follows the procedures from Forbes and Rigobon (2002) in analyzing the jumps in the correlation coefficients and suggests a new idea by extracting and evaluating the idiosyncratic components. The idiosyncratic part refers to the unique series after filtering the common/global part. Analyzing this part allows us to prevent bias due to global factors. This novelty analysis extends previous studies by filtering the common factor. Thus, allowing us to thoroughly investigate specific country. Using the daily return series from January 1, 2016, to January 1, 2024 (downloaded from the investing website), I document that both BTC and oil transmit contagion to the major equity markets, albeit in different directions. BTC (oil) tends to trigger positive (negative) contagion. The results are consistent regardless of whether the daily return or idiosyncratic series are used and when the correlations are adjusted for heteroskedasticity.
Based on the National Survey of the Central Statistics Agency (Susenas BPS), running is the majority sport preferred by 41.45% of respondents. Interest in running as a sporting activity continues to increase in society, creating an atmosphere supporting the running community's growth. Social aspects, health, and lifestyle trends are several factors that influence this development. Based on several previous studies, several of these things affect the decision to purchase running sportswear. So, this research examines the purchasing decision of running sportswear with a sample of running enthusiasts in Indonesia. The respondents of this research are running enthusiasts in Indonesia. Data collection was carried out by distributing questionnaires online. The statistical tool used is Smart Partial Least Square (SmartPLS 3.0). The results show that purchase decisions are influenced by several factors, namely reference groups, lifestyle, and consumer preferences. The results obtained can be used by running sportswear companies to pay more attention to marketing strategies by always adapting to the dynamics of the times, including understanding market trends, changes in consumer behavior, and new technologies that may impact marketing strategies.
The purpose of this study was to provide an insight into the crucial antecedents of customer satisfaction and revisit intention in the context of local coffee shop chain customers in Malang City. Studies on customer satisfaction and revisit intention have been conducted extensively by previous researchers. However, this study addresses existing gaps by identifying specific antecedents of customer satisfaction (service quality, atmosphere, and convenience) and revisit intention (customer satisfaction and variety seeking tendency), and analyzing their relationships within a single structural equation model. The type of research used is explanatory research using a quantitative approach. The population of this study were customers of the local coffee shop chain in Malang City. The sampling technique in this study was non-probability sampling using purposive sampling. The sample used in this study amounted to 232 respondents. The analysis method used is the Structural Equation Model based on Partial Least Square (SEM-PLS). The results of this study indicate that service quality and atmosphere affect customer satisfaction. While convenience has no effect on customer satisfaction. Customer satisfaction and variety seeking tendency affect revisit intention.
This study explores the relationship between psychological climate and work engagement, focusing on the mediating roles of gratitude and general self-efficacy in small business contexts. Data were collected from 180 employees working in small businesses in two cities in Central Java through an online questionnaire. Respondents were selected using a purposive sampling technique to ensure relevant work experience. Structural Equation Modeling (SEM) with Partial Least Squares (PLS) was employed to analyze the data. The results revealed that the direct influence of psychological climate on work engagement was not supported. However, the findings underscore the significant mediating roles of gratitude and general self-efficacy. Gratitude amplifies emotional connection, while general self-efficacy fosters confidence translating a positive psychological climate into greater work engagement. These findings highlight the importance of internal psychological mechanisms in driving employee engagement in small businesses. The study suggests that managers should focus on creating a supportive workplace climate while fostering gratitude and self-efficacy through targeted interventions. These strategies could help small businesses enhance employee engagement, even in resource-constrained environments. Future research could explore additional mediators and longitudinal effects to deepen the understanding of these relationships.
Customer intimacy is a business strategy that is implemented by giving high attention to the strategy of marketing relationships. In the long term, customer intimacy can positively impact a company. There are several ways to increase customer intimacy. Some of them are through effective communication, service excellence, and customer knowledge. Bank Syariah Indonesia is one of the banks that implement a service excellence strategy for customers, and even Bank Syariah Indonesia has won awards in the field of service excellence. The purpose of this survey is to determine the effect of effective communication and service excellence in increasing customer intimacy through the moderating of variable customer knowledge. This research uses quantitative methods. Sampling in this study used snowball sampling techniques, with a total sample of 100 customers. The results of this study indicate that communication effectiveness and service excellence have a significant effect on increasing customer intimacy, and communication effectiveness has no effect on customer intimacy with variable moderation customer knowledge, and service excellence has a significant positive effect on increasing customer intimacy with moderation variable customer knowledge. This research is expected to provide benefits for various parties in improving the quality of interaction between banks and customers, to create closer and more sustainable relationships, emphasizing the need to implement service excellence to create a positive customer experience and increase loyalty, and optimizing the use of customer knowledge to adjust service and communication strategies to suit customer needs better.
This research aims to determine whether compensation and leadership style can influence employee performance, mediated by work motivation. This research uses a quantitative approach with primary data collected with the help of an online questionnaire using Google Forms. The population of this research is all banking employees in Sungai Penuh City, with a sample of 95 employees. This research data was analyzed using the Structural Equation Model (SEM) using the SMART PLS 3.2.9 application. The results of this research found that work motivation has a direct effect on employee performance, and compensation also has a direct impact on work motivation. Meanwhile, compensation and leadership style do not directly affect employee performance, and work motivation with compensation does not directly affect leadership style. Furthermore, the results of hypothesis testing prove that work motivation can mediate compensation and employee performance, while work motivation cannot mediate between compensation and leadership style. Also, Leadership style variables cannot mediate work motivation, employee performance, compensation, and performance.
This study identifies the influence of servant leadership on teacher creativity. We considered occupational commitment and work engagement as sequential mediators in the relationship between servant leadership and teacher creativity. This current study uses surveys by distributing questionnaires to teachers at the "X" education foundation in one of the cities in East Java. Hypothesis testing uses partial least squares-structural equation modeling (PLS-SEM). Our study shows that servant leadership does not directly enhance teacher creativity but rather through occupational commitment and work engagement. This finding contributed to the understanding that servant leadership influences teacher creativity through the sequential mediation of occupational commitment and work engagement. As an implication, the "X" educational foundation needs to choose principals who are able to act as servant leaders. In order to effectively increase teacher creativity, servant leaders must provide support and opportunities for teachers that will boost their commitment to their work. Teachers with high occupational commitment will be more engaged with their work, allowing them to become more creative. In addition, various employee management activities, such as training, recognition, and selecting effective school principals, are needed to increase teachers' commitment, engagement, and creativity.
This study aims to assess the impact and factors influencing Indonesian CPO exports to six main destination countries from 2000 to 2021. The variables analyzed include real GDP per capita in the destination countries, inflation rates in these countries, and international CPO prices over the same period. The analysis employs a Random Effect Model (REM) processed using Eviews-10. The urgency of this study is to evaluate the circumstances of the EU's deforestation law by examining the contribution of Indonesian CPO exports. The results indicate that real GDP per capita, inflation, and international CPO prices significantly affect the export value of CPO to these six countries during 2000-2021.
