This study provides a definition of a firm-level construct— entrepreneurial organisational culture (EOC)—and takes important steps toward specifying EOC’s dimensionality, measurement, and construct validity. A multi-dimensional EOC instrument was developed and tested, yielding evidence of the instrument’s content, convergent, concurrent and discriminant validity. EOC was found to be positively related to the type of business strategy espoused by CEOs, firms’ degree of entrepreneurial strategic posture, and certain entrepreneurial outcomes, including revenue from new sources. Implications for corporate entrepreneurship research and practice are discussed.
Indonesian financial-sector issuers have rapidly increased ESG reporting compliance, yet whether this reflects genuine digital capability or mere adaptation to regulatory pressure remains unclear. Evidence linking digital transformation, resource allocation, and ESG outcomes is concentrated in voluntary-disclosure settings in developed and transitional markets, leaving the relationship largely untested under mandatory, standardized disclosure. This study tests whether digital transformation improves ESG disclosure among Indonesian financial firms, directly and through resource allocation efficiency (RAE) as a mediator. Using panel data from 30 firms over 2020-2024 (150 firm-year observations), digital transformation is measured via a codebook-based Digital Transformation Score from annual-report content analysis, RAE via Richardson's (2006) investment model, and ESG via a 26-indicator disclosure index from POJK No. 51/POJK.03/2017. Hypotheses are tested with two-way fixed-effects regression, cluster-robust errors, and Baron and Kenny/Sobel mediation tests. Contrary to expectations, digital transformation does not significantly improve ESG disclosure or resource allocation efficiency, resource allocation efficiency does not significantly improve ESG disclosure, and no mediated pathway is detected, holding across five robustness checks. Instead, ESG disclosure rises uniformly across firms over time, consistent with regulatory rather than firm-level drivers. ESG performance in Indonesian finance thus appears compliance-driven, not capability-driven, a boundary condition for resource-allocation-mediated models built in voluntary-disclosure markets. For regulators, raising compliance alone does not ensure sustainability quality; digital and ESG policy agendas should be integrated. For industry, digital investment should shift toward ESG-relevant decision-making, not customer-facing services alone.
Influencer marketing has become one of the most widely used strategies in digital marketing, particularly within the beauty and skincare industry. However, campaign effectiveness continues to be evaluated primarily through quantitative metrics such as views and engagement rates, which may not fully capture how consumers perceive and interpret influencer-generated content. This study explores consumer perception of influencer-generated content in the POND's Peony FM campaign conducted by Clozette Indonesia and identifies the factors shaping these perceptions. Using a qualitative approach grounded in the Stimulus-Organism-Response (S-O-R) framework, data were collected through semi-structured interviews with 17 purposively sampled female social media users aged 18 to 30. Thematic analysis following Braun and Clarke's (2021) six-phase approach revealed five themes: personal relevance, content clarity and informativeness, authenticity and influencer credibility, content improvement needs, and perceived metrics legitimacy. Personal relevance emerged as the most dominant factor, identified across all 17 respondents. Findings also revealed a substantial gap between the campaign's KPI achievement of 2,523 percent, corresponding to 12,816,840 views against a target of 508,000, and its engagement rate of only 0.28 percent, a disparity consistent with respondents' descriptions of passive content viewing. These findings suggest that influencer campaign effectiveness should be evaluated not solely through quantitative metrics, but through the integration of qualitative consumer perception insights for a holistic assessment. This study offers theoretical and practical implications for influencer marketing evaluation.
Employees returning to work following serious illness or workplace injury face complex physical and psychological challenges that extend well beyond the clinical recovery process. Despite growing scholarly interest in organizational support and workplace social support, limited research has examined how these two constructs operate during the post-recovery phase within high-risk industrial settings, particularly in the mining sector. This study investigates the forms of organizational support provided by PT Kaltim Prima Coal and the influence of workplace social support on employee adaptation following recovery. A qualitative phenomenological approach was adopted, and data were collected through semi-structured interviews with six purposively selected employees who participated in the company's Work Rehabilitation Program. Thematic analysis following the six-phase framework of Braun and Clarke was employed, with manual coding conducted through Microsoft Excel. The findings reveal that organizational support operates across three interconnected dimensions: psychosocial recognition, which encompasses employee appreciation and workload adjustment; medical-functional assistance, including clinical consultation and specialist referral; and structural-administrative oversight through continuous HR monitoring. Workplace social support, delivered through supervisory guidance, emotional validation, and peer collaboration, further reduces occupational stress, restores self-confidence, and strengthens work motivation during reintegration. Structured reintegration through the WRP was also perceived as substantially more restorative than conventional sick leave arrangements. Collectively, these findings extend Perceived Organizational Support theory to a previously underexamined population and offer evidence-based implications for occupational rehabilitation policy design in high-risk industrial environments.
constraints, yet its human consequences at the operational level remain underexplored, particularly in small-to-medium-sized enterprises within developing economies. This study examines the restructuring implemented at PT WKB, an Indonesian edutech company, focusing on employee perceptions of the restructuring process, job description adjustments, and the post-restructuring key performance indicator system. A descriptive qualitative approach was employed through a single case study design, with data collected from six purposively selected informants via semi-structured interviews, internal documents, and observation, and analyzed using the interactive model of Miles, Huberman, and Saldana. Findings indicate that while the restructuring achieved structural efficiency through workforce reduction and hierarchy flattening, it simultaneously produced workload intensification, role ambiguity, and a persistent misalignment between formal performance indicators and employees' actual contributions. Employees demonstrated adaptive tolerance rather than overt resistance, absorbing expanded responsibilities while experiencing strain from volatile directives and diminished autonomy. The study introduces adaptive tolerance as a distinct behavioral response in resource-constrained restructuring contexts and identifies the temporal lag between structural change and performance framework revision as the primary mechanism of KPI misalignment, offering practical implications for human resource practitioners managing organizational transitions.
Corporate social responsibility (CSR) has evolved from a philanthropic obligation into a strategic instrument through which firms pursue long-term sustainability. Despite growing scholarly interest, the mechanisms connecting CSR to sustainability outcomes remain insufficiently examined, particularly in developing economy contexts. This study investigates how CSR contributes to corporate sustainability through two parallel mediating pathways, financial performance and social legitimacy, drawing on legitimacy theory, stakeholder theory, and positive accounting theory as an integrated analytical framework. A systematic literature review of Scopus-indexed publications from 2021 to 2025 was conducted, with findings synthesised through classification, thematic analysis, and critical evaluation. The results confirm that CSR positively influences corporate sustainability, financial performance, and institutional legitimacy, supporting all three hypotheses proposed. These effects are conditional on implementation quality and the institutional environment in which firms operate. In emerging markets, including Indonesia, firms frequently adopt CSR in response to regulatory pressure rather than genuine strategic commitment, which constrains the financial and legitimacy gains that substantive engagement would otherwise generate. This study extends prior research by showing that financial performance and legitimacy function as simultaneous and mutually reinforcing mediators rather than independent channels, and it challenges the assumption that a positive CSR-sustainability relationship is universally applicable. The findings offer practical guidance for firms and policymakers in developing economies navigating rapidly expanding sustainable finance regulations.
The rapid growth of cryptocurrency markets in Indonesia has attracted millions of retail investors, yet the behavioral and motivational factors that drive individual investment decisions in this context remain insufficiently understood. This study examines the simultaneous influence of five variables, namely investment experience, motivation, risk perception, investment interest, and financial literacy, on cryptocurrency investment decisions among Indonesian retail investors. A quantitative cross-sectional design was employed, with data collected from 168 respondents drawn from an active Indonesian cryptocurrency investment community forum through a structured Likert-scale questionnaire administered in February 2023. Multiple linear regression analysis was conducted using IBM SPSS version 23 to test six hypotheses. The results confirm that all five variables jointly and significantly influence cryptocurrency investment decisions, with the integrated model explaining 96 percent of the total variance in investment decisions. Among individual predictors, motivation emerged as the dominant positive influence, followed by risk perception and investment interest, while investment experience contributed a smaller but statistically significant positive effect. Financial literacy was the only variable to exert a significant negative effect, indicating that more financially literate investors exhibit greater caution toward cryptocurrency participation. These findings support, extend, and in the case of financial literacy partially contradict prior empirical studies, contributing an integrative multi-factor framework to the growing literature on cryptocurrency investment behavior in emerging markets. The study offers practical implications for investors, financial educators, and policymakers working to strengthen investor protection and financial decision-making quality within Indonesia's rapidly expanding digital asset ecosystem.
Financial confidence represents a critical determinant in investment decision-making among stock market participants. This study examines the influence of financial socialization and psychological characteristics on financial confidence among stock investors in Jakarta, mediated by digital financial literacy and financial behavior. A quantitative research approach was employed, utilizing SmartPLS 3 software for data analysis through Partial Least Squares Structural Equation Modeling. The sample comprised 50 active stock investors residing in Jakarta, with data collected through structured questionnaires using five-point Likert scales. The analysis revealed four principal findings. First, financial socialization does not significantly influence digital financial literacy (p = 0.200), contradicting conventional socialization theory expectations. Second, psychological characteristics exert a strong positive influence on digital financial literacy (β = 0.902, p < 0.001). Third, digital financial literacy significantly affects financial behavior (β = 0.732, p < 0.001). Fourth, financial behavior strongly influences financial confidence (β = 0.799, p < 0.001). These findings suggest that intrinsic psychological factors serve as more powerful drivers of financial confidence development than external social learning processes among equity investors. The research contributes theoretical insights regarding financial confidence formation in emerging markets and provides practical implications for financial institutions, regulators, and investors. The study recommends that investor education programs prioritize psychological skill development and experiential learning rather than conventional information dissemination approaches.
Even the importance of student satisfaction and loyalty for higher institutions has increasingly been acknowledged, there is a lack of academic study on the building of the conceptual model. This study focused to investigate the factors influencing the student satisfaction and loyalty in selected universities in Phnom Penh, Cambodia. The conceptual model was developed by theoretical framework as the stimulus-organism-response (SOR), service quality and along with four theoretical frameworks. The study highlighted the determinants of student satisfaction, consisting of teacher quality, college administrative, campus life and social integration, infrastructure facilities and institution reputation, while student satisfaction itself plays as mediator. With synthetization of foregoing empirical papers, the findings exhibited that the proposed factors have a significant influence on student satisfaction. Besides, the student satisfaction significantly mediates between these antecedences and student loyalty. These pave the way for further research employing particular advanced statistical techniques to produce better results.
This study investigates the direct and indirect effects of organizational culture and teamwork on employee performance, with work motivation as a mediating variable. A quantitative survey was conducted with 197 employees from BPJS Kesehatan Head Office, Indonesia, using validated questionnaires measuring organizational culture (33 items, α=0.906), teamwork (38 items, α=0.936), work motivation (35 items, α=0.936), and employee performance (37 items, α=0.942). Path analysis revealed that organizational culture significantly predicted employee performance (β=0.250, p<0.001) and work motivation (β=0.384, p<0.001). Teamwork significantly influenced employee performance (β=0.256, p<0.001) and work motivation (β=0.388, p<0.001). Work motivation exhibited the strongest direct effect on employee performance (β=0.365, p<0.001). Sobel tests confirmed significant mediation effects of work motivation on the relationship between organizational culture and employee performance (z=6.729, p<0.001), and between teamwork and employee performance (z=6.667, p<0.001). These findings demonstrate that work motivation serves as a crucial psychological mechanism through which organizational culture and teamwork influence employee performance. The results validate the Integrative Model of Organizational Behavior within a non-Western public sector context and provide evidence-based recommendations for performance enhancement strategies emphasizing integrated interventions targeting culture, teamwork, and motivation simultaneously.
Understanding the factors that influence consumers’ decisions to purchase local products is crucial for promoting sustainable economic growth in developing countries. This study addresses the gap in empirical research by examining how consumer ethnocentrism affects purchasing behavior toward local products in Cambodia through the lens of the extended Theory of Planned Behavior (TPB). Using a quantitative approach, data were collected from 500 fourth-year undergraduates across various faculties at BELTEI International University via structured questionnaires and analyzed using Excel and SPSS. The results reveal that consumer ethnocentrism significantly and positively influences purchase intention (β=0.605, p<0.001) and affects the TPB components—attitude, subjective norm, and perceived behavioral control. Attitude (β=0.230, p<0.001), subjective norm (β=0.126, p<0.01), and perceived behavioral control (β=0.525, p<0.001) each positively contribute to purchase intention, explaining 66.0% of its variance. These findings underscore the vital role of consumer ethnocentrism in encouraging local product purchases and validate the extended TPB as an effective framework for understanding consumer behavior in Cambodia. The study provides valuable insights for policymakers, producers, consumers, and researchers to develop strategies that enhance support for local products and promote economic sustainability. Future research is recommended to further explore consumer ethnocentrism within the extended TPB framework across diverse sectors and cultural contexts.
Leadership represents a critical determinant of entrepreneurial success and organizational sustainability, particularly within small and medium enterprises where ethical guidance directly influences stakeholder outcomes. This study analyzes the integration of Prophet Muhammad's leadership values within transformational and servant leadership models through systematic thematic Quranic exegesis. Employing qualitative descriptive methodology with tafsir maudhu'i approach, the research examines four key Quranic verses (Al-Imran 3:159, Al-Anbiya 21:107, Al-Furqan 25:63, and Al-Ma'idah 5:8) that articulate principles of consultative decision-making, visionary inspiration, humble conduct, and equitable justice. Findings reveal that prophetic leadership encompasses both transformational dimensions (idealized influence, inspirational motivation, intellectual stimulation, and individualized consideration) and servant leadership characteristics (humility, empowerment, ethical behavior, and stewardship) within a unified theological framework. The analysis demonstrates that Quranic leadership principles challenge the artificial dichotomy between transformational vision-setting and servant stakeholder orientation prevalent in Western management scholarship, instead presenting an integrated paradigm termed "Quranic Leadership" that synthesizes change-oriented inspiration with humble ethical service. This framework offers Muslim entrepreneurs scripturally validated guidance for implementing evidence-based leadership practices while maintaining religious authenticity, contributing to faith-integrated entrepreneurship literature and providing practical implications for business educators, organizational leaders, and policymakers seeking culturally relevant approaches to ethical entrepreneurship and sustainable business development.
This study constructs an integrated theoretical framework to explain individual behavior within entrepreneurial organizations by synthesizing cognitive, motivational, reinforcement, and psychoanalytic perspectives. Through a systematic literature review, it examines how personality, cognitive capabilities, motivational orientations, and unconscious psychological structures interact with entrepreneurial environments to produce distinctive behavioral outcomes. The analysis indicates that entrepreneurial behavior arises from complex interactions across these psychological dimensions, rather than from isolated traits. The framework elucidates how cognitive processes underpin opportunity recognition, motivational hierarchies shape goal pursuit, reinforcement contingencies guide learning, and unconscious dynamics influence decision-making and resistance to change. By bridging classical organizational behavior theories with contemporary entrepreneurial contexts, this research provides deeper theoretical explanations for personality-performance relationships, cognitive drivers of innovation, and motivational impacts on venture success. The findings suggest that effective entrepreneurial leadership requires a multidimensional understanding of these psychological factors. This work contributes to entrepreneurship theory and offers practical implications for leadership, human resource management, and entrepreneurship education. Future research should empirically validate this framework across diverse entrepreneurial settings and stages of the venture lifecycle.
Small and medium-sized enterprises (SMEs) play a significant role in economic growth, employment generation, and business development, particularly in emerging economies. However, many SMEs continue to face governance, performance management, and human capital development challenges that limit long-term sustainability and competitiveness. This study proposes the Bora SME Performance System (BPS) as an integrated governance framework designed to support SME performance and organizational capability development. The framework consists of five core dimensions: Profit Engine, Process Discipline, Performance Control, People Accountability, and Potential Development. In addition, the study conceptually introduces a balanced integration between Human Resource Management (HRM) and Human Capital Management (HCM) to strengthen both operational performance and workforce capability development. Drawing on the Resource-Based View, Human Capital Theory, and contemporary governance literature, this study develops a conceptual model linking governance structures, organizational capability, and SME performance outcomes. The framework contributes to SME governance literature by offering a simplified and context-relevant model for emerging economies. The study also provides practical implications for SME leaders, consultants, and policymakers seeking to improve organizational sustainability and competitiveness. Future research is recommended to empirically validate the proposed framework across different industries and institutional contexts.
Agricultural entrepreneurship has been recognised as an important tool for job creation, alleviating poverty and improving food and nutrition in South Africa. This study aimed to identify the drivers of agricultural entrepreneurship among smallholder urban vegetable farmers in the Sobantu and Mphophomeni townships. Primary data were collected using a structured questionnaire. A purposive multi-stage sampling technique was used to sample 156 smallholder urban vegetable farmers. The agricultural entrepreneurship index was created using principal component analysis and used as a dependent variable to determine factors influencing agricultural entrepreneurship using a two-step generalised least-squares (GLS) model for dealing with multiplicative heteroskedasticity. The results indicated that entrepreneurial spirit, entrepreneurial attitude, farming interest, gender, education, farming information, selling produce, and distance to input suppliers were significant factors influencing agricultural entrepreneurship among smallholder urban vegetable farmers in the study areas. The study concludes that agricultural entrepreneurship in urban settings can be enhanced by improving farming information and empowering urban farmers to strengthen entrepreneurial spirit, entrepreneurial attitude, and farming interest. The study recommends urban policies and programmes that strengthen farming information sources and entrepreneurship training activities to improve agricultural entrepreneurship endeavours among smallholder urban farmers.
In the absence of consensus on the competences that define an entrepreneurial profile, this study addresses two key questions: which competences should managers possess to perform their roles entrepreneurially? Which of these competencies are valued by successful entrepreneurs when hiring entrepreneurial managers? To answer these questions, this article combines a comprehensive literature review with evidence provided by a panel of 17 successful entrepreneurs. The resulting catalogue of competences and abilities is useful in both academic and business contexts and enabled the development of a novel, employer-oriented entrepreneurial potential index (EPI), which provides an integrated measure of these competences and abilities. Moreover, this EPI has been validated on an internationally diverse sample of 278 business administration students enrolled at Spanish universities. These findings offer faculty a validated competence framework for curriculum development and entrepreneurs a practical guide for hiring entrepreneurial managers.
A knowledge gap remains regarding how entrepreneurial orientation (EO) moderates the relationship between entrepreneurial networks and firm performance. This study contributes to the entrepreneurship literature by examining EO as a moderator rather than a main-effect predictor. It examines primary data collected from 224 entrepreneurs in small firms in Assam, India. In the hierarchical regression model, EO was associated with significantly improved firm performance. Moreover, the interactions between network size and EO, network density and EO, and supportive network and EO significantly and positively impacted firm performance. Therefore, this study reveals that the EO scales developed in Western developed countries can be adapted to a developing country such as India. It also shows that EO can provide entrepreneurs with a significant source of motivation, leading to superior firm performance. A key implication of these findings is that policymakers and development agencies could actively promote both EO and networking capabilities among micro- and small-sized enterprises, especially in less developed countries, by designing context-specific training, mentorship and support programmes, as strengthening these aspects can enhance firm performance.
