The research aims to examine the effect of ownership structure on Corporate Social Responsibility Disclosure (CSRD) and analyze the moderating role of the board of commissioners. Ownership structure is proxied by managerial and institutional ownership, while the role of the board of commissioners is measured by the frequency of board meetings. CSRD is measured as a dummy variable, and full disclosure consists of 89 indicators from Global Reporting Initiative (GRI) Standard 2021. The research uses panel data from 45 banking companies listed on the Indonesia Stock Exchange (IDX) during 2021–2023, resulting in 135 firm-year observations. The data are analyzed using panel regression with model selection tests, including Chow, Hausman, and Lagrange Multiplier tests, followed by classical assumption testing. The results before time lag (t) indicate that managerial and institutional ownership have no significant effect on CSRD, and the board of commissioners does not moderate the relationship. However, after applying a time lag (t+1), institutional ownership shows a positive and significant effect on economic, social, and total CSRD, while managerial ownership positively affects environmental disclosure. The moderating role of the board of commissioners remains insignificant. The research contributes to stakeholder theory by emphasizing the importance of powerful stakeholders, particularly institutional investors, in influencing CSR disclosure over time.
The research examines how empowering leadership fosters employee creativity by investigating the mediating role of mindfulness and the moderating role of perceived organizational support. Although empowering leadership is widely recognized as an important antecedent of employee creativity, the psychological processes and organizational conditions through which it promotes employee creative behavior remain insufficiently understood. This research proposes a model in which mindfulness mediates the relationship between empowering leadership and employee creativity, while perceived organizational support moderates this relationship. A survey is conducted among 215 lecturers at a public university in Aceh, Indonesia, and the data are analyzed using Partial Least Squares-Structural Equation Modeling (PLS-SEM) with SmartPLS. The results indicate that empowering leadership positively influences employee creativity. Moreover, mindfulness mediates the relationship between empowering leadership and employee creativity, suggesting that empowering leadership fosters employees’ mindful response to workplace experience. Perceived organizational support also strengthens the effect of empowering leadership on employee creativity, indicating that organizational support enables employees to transform leadership support into employee creative outcomes more effectively. These findings empirically support the proposed research framework. The research contributes to the leadership and creativity literature by demonstrating the complementary roles of employees’ mindfulness and organizational support in explaining how empowering leadership facilitates employee creativity.
Amid growing concerns about sustainable consumption, fast fashion continues to thrive among Generation Z, reflecting a persistent value–behavior gap between ethical concerns and actual purchasing behavior. Prior studies often treat ethical constructs as a single dimension and rarely integrate moral cognition, psychological tension, and socio-digital forces within a unified framework. As a result, the mechanisms explaining why ethical concerns fail to translate into behavioral restraint remain insufficiently understood. To address this gap, the researchers develop and test an integrative model that distinguishes ethical awareness from ethical consumption literacy and incorporates cognitive dissonance, social norms, and active social media use. The researchers collect data from 337 Generation Z respondents in Jabodetabek and analyze them using Partial Least Squares Structural Equation Modeling (PLS-SEM). The findings show that ethical awareness does not constrain behavior but positively influences fast fashion consumption, indicating an ethical paradox. Ethical consumption literacy significantly reduces consumption, demonstrating its role as an operational capability that translates ethical considerations into action. Although ethical consumption literacy increases cognitive dissonance, dissonance does not significantly influence behavior nor mediate the relationships. Furthermore, active social media use weakens the protective effect of ethical consumption literacy, highlighting the role of digitally mediated social influence. This study contributes by distinguishing ethical awareness from ethical consumption literacy, challenging the mediating role of cognitive dissonance as a behavioral mechanism in highly normalized consumption contexts, and identifying digital engagement as a boundary condition of ethical behavior. These findings suggest that sustainability interventions should move beyond awareness toward literacy-building and norm-oriented strategies.
Indonesia has introduced green sukuk and sustainable finance regulations, but its green finance market remains less developed than those of countries such as China, Germany, and the United States. While prior studies have largely focused on financial literacy and investment intention, they have paid limited attention to the behavioral mechanisms through which green finance awareness translates into investment decisions, particularly among retail investors in emerging markets. The research addresses this gap by examining how green finance awareness influences investor behavior through investment risk-taking and external influences, while also testing the moderating role of gender. A quantitative research design is employed using a survey of 198 active retail investors who utilize digital investment platforms. Data are analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM). The findings indicate that green finance awareness significantly enhances investors’ willingness to take investment risks and increases their susceptibility to external influences such as social norms, expert opinions, and market information. Both investment risk-taking and external influences positively affect sustainable investment decisions. However, gender does not significantly moderate the relationship between green finance awareness and investment risk-taking, suggesting that male and female investors respond similarly to green finance products. These findings contribute to the literature by providing an integrated behavioral perspective on sustainable investment decisions in the context of retail investors in Indonesia. The results offer practical insights for policymakers and financial institutions to design strategies that enhance retail participation in green finance and support the growth of Indonesia’s sustainable investment market.
The research examined financial development and current account sustainability in African economies using panel data from 2010 to 2023 from the World Development Indicators (WDI). Unlike previous studies that focused narrowly on single indicators or on other regions, this research adopted a multidimensional approach by analyzing credit to the private sector, broad money supply, stock market capitalization, Foreign Direct Investment (FDI), and terms of trade and exchange rate dynamics. To address endogeneity and capture the persistence of current account positions, the researchers employed a dynamic panel Generalized Method of Moments (GMM) framework, ensuring robust and reliable results. The findings reveal strong persistence in current account balances, suggesting structural factors that maintain external positions over time. Among financial development variables, money supply has a statistically significant and positive effect, indicating that monetary deepening supports external sustainability. In contrast, credit to the private sector and stock market capitalization are statistically insignificant, reflecting shallow and inefficient financial systems across much of Africa. FDI exerts a positive influence, but its effectiveness depends on alignment with national development priorities. Terms of trade and exchange rate changes show weak and inconsistent impacts, underlining the region’s vulnerability to commodity dependence and external shocks. The research contributes novelty in three respects: incorporating multiple dimensions of financial development, providing region-specific evidence for African economies, and applying a dynamic panel GMM framework to strengthen methodological rigor. The results highlight the need to deepen financial institutions, promote export diversification, and enhance regional integration to improve external resilience and long-term macroeconomic stability.
