Journal title : MIX: Jurnal Ilmiah Manajemen Journal Initials : Jurnal Mix Online ISSN : 2460-5328 Print ISSN : 2088-1231 Accreditation Status : Sinta 2 Accredited Journal, Decree No: 10/C/C3/DT.05.00/2025 Frequency : 3 issues per year (February, June, and October) DOI Journal : 10.22441/jurnal_mix by Crossreff OAI Journal : https://publikasi.mercubuana.ac.id/index.php/jurnal_mix/oai by OpenArchice.Org Editor-in-chief : Arief Bowo Prayoga Kasmo, M.M., Ph.D. Publisher : Fakultas Ekonomi dan Bisnis, Universitas Mercu Buana Cite Analysis : Scopus, Google, Scholar, Sinta Indexing : Google Scholar, DOAJ, Dimension, BASE, Copernicus, Sinta, Garuda..
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Student Readiness for AI in Business: Roles of Literacy, Attitude, and Practical Engagement
Purpose: This study investigates the determinants of student readiness for artificial intelligence (AI) integration in business education, emphasizing the roles of AI literacy, affective attitude, and practical engagement. The research addresses the increasing demand for future business professionals equipped to operate in AI-enhanced environments. Methodology: A quantitative approach was employed using survey data from 177 undergraduate students in the Greater Jakarta area. Constructs were measured through validated instruments and analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) to examine both direct and mediated relationships among variables. Findings: The results show that AI literacy and affective attitude have significant direct effects on AI readiness. Practical engagement contributes to readiness indirectly through affective attitude. Affective attitude is the strongest direct predictor of readiness and significantly mediates the effects of AI literacy and practical engagement. Conclusion: The findings suggest that enhancing AI readiness requires a holistic educational framework integrating conceptual knowledge, experiential exposure, and emotional receptivity. Curriculum designers should focus on affective learning strategies alongside technical training to foster a workforce capable of navigating AI-driven business contexts.
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Competitive Strategy and Performance in Traditional Food SMEs: The Role of Competitive Advantage
Objective: Improving business success remains a problem for traditional food SMEs. Digital literacy, productivity, legality, financing, branding, human resources, certification products, standard distribution, quality products, quantity products, and customer services are all necessary because of the lack of innovation and technology. Methodology: This research uses a quantitative approach with Structural Equation Modelling (SEM). The statistical method used to determine the objectives of the study was SmartPLS 3.0.Data collection through a questionnaire and distributed to SMEs in Jabodetabek (Jakarta, Bogor, Bekasi, and Tangerang). The data was obtained 300 respondents. Findings: The findings demonstrated that entrepreneurial approach had little bearing on how well a business performed. Conversely, market orientation had a favourable and noteworthy impact on firm performance, entrepreneurial orientation on competitive advantage, and market orientation on competitive advantage. Business performance is influenced by competitive advantage as an intervening variable. Conclusion: These findings prove that managerial skills, decision-making, entrepreneurial orientation, and innovation are essential for traditional food SMEs to optimize business performance and achieve competitive advantage. In addition, this research provides the right insights for the government, SME players, and customers in achieving SMEs’ business goals and promoting traditional Indonesian food products in both domestic and global markets.
Development of Digital Talents Millennial Muslims in Facing the Digitalization of Sharia Economy in the Era Society 5.0
Objectives: This study aims to develop a conceptual framework for digital talent development among millennial Muslims in supporting the digitalization of the sharia economy in the Society 5.0 era. Methodology: Qualitative research using the Literature Review approach and conceptual review techniques, in which with this method the researcher seeks to collect various data and information from various academic literature that has suitability and relevance to the topics used in this study in order to obtain an understanding and concept regarding the development of digital talent, especially for Muslims. millennials in facing the digitalization of the Islamic economy in the era of society 5.0. Finding: Sharia economic actors in addition to transforming into business digitalization also need to develop their human resources so that they have a Critical Thinking soul and instill the values of Creativity, Collaboration and Communication and are supported by digital HR, supporting technology, research and innovation as a form of facing the Digitalization of the sharia economy in the era of society 5.0. Conclusion: This study contributes by offering an integrative framework that links digital talent development with sharia economic transformation, particularly within the socio-religious context of millennial Muslims.
Women, Environment and Marketing: What Drives Green Purchase Intention of Cloth Menstrual Pads Among Generation Z
Objectives: This study investigates the influence of environmental knowledge, green advertising, and environmental concern on green purchase intention toward cloth menstrual pad products, with attitude toward green products serving as a mediating variable and sustainability awareness functioning as a moderating variable. Methodology: Data were collected through an online survey of 421 Generation Z women residing in major Indonesian cities, namely Jakarta, Bandung, Surabaya, Medan, and Makassar, and analyzed using SmartPLS 4. Finding: The results reveal that environmental knowledge, green advertising, and environmental concern exert significant positive effects on attitudes toward green products, which subsequently enhance green purchase intention. Notably, environmental knowledge demonstrates a negative direct effect on purchase intention, while sustainability awareness fails to moderate the proposed relationships. Conclusion: These findings offer valuable insights for manufacturers, marketers, policymakers, and environmental organizations seeking to foster green purchase intention, particularly for sustainable products such as cloth menstrual pads
The Paradoxical Influence of Job Insecurity on Workplace Satisfaction: Evidence from Indonesian Migrant Workers in Sarawak, Malaysia
Objectives: This investigation addresses a critical gap in understanding how employment uncertainty influences job contentment among cross-border laborers. Conventional wisdom suggests that feelings of workplace instability diminish employee satisfaction; however, preliminary observations among Indonesian migrant workers (PMI) in Sarawak reveal a counterintuitive pattern. The primary objective examines whether employment precariousness paradoxically enhances occupational fulfillment within this unique demographic context. Methodology: A sequential explanatory mixed-method framework was implemented. Initially, quantitative data from 207 Indonesian migrant workers in Sarawak underwent structural equation modeling analysis using PLS-SEM techniques. Subsequently, qualitative validation occurred through in-depth interviews with ten purposively selected informants, exploring psychological mechanisms underlying the observed statistical relationships. The integration triangulated numerical evidence with contextual narratives. Finding: Statistical analysis revealed an unexpected positive correlation (β=0.161, p=0.009) between employment insecurity and job satisfaction, contradicting mainstream theoretical predictions. Four distinct psychological mechanisms emerged through qualitative analysis: gratitude amplification (30% of informants), comparative advantage recognition (30%), motivational intensification (20%), and existential meaning reinforcement (20%). Work-related factors demonstrated the strongest predictive power (β=0.655, p<0.001), while fear of social judgment exhibited dual pathways, directly influencing satisfaction (β=0.133, p=0.026) and indirectly through insecurity perceptions. The integrated model explained 85.2% variance in job satisfaction. Conclusion: Employment uncertainty operates paradoxically among migrant populations, transforming potential stressors into satisfaction enhancers through context-specific psychological adaptations. This challenges universalist assumptions in job insecurity theory and demonstrates the necessity for culturally situated frameworks when examining transnational labor dynamics. Practical implications suggest that policies addressing migrant worker welfare should prioritize tangible workplace conditions over exclusively targeting security perceptions, as insecurity may function protectively within constrained opportunity structures.
Smart Financial Management Strategies for Enhancing the Profitability of Micro, Small, and Medium Enterprises in the Era of Global Competition
Objective: Digital transformation in the financial sector provides strategic opportunities for Micro, Small, and Medium Enterprises (MSMEs) to improve efficiency, access to finance, and competitiveness. However, many MSMEs have not fully optimized these opportunities due to limited financial management capability and uneven adoption of financial technology. This study aims to analyze the effect of smart financial management strategies on MSME profitability, both directly and indirectly through financial technology adoption. Methodology: This study employed a quantitative explanatory research design. The population consisted of active MSMEs in West Java Province that had used at least one form of financial technology service. The sample was selected using purposive sampling, involving 200 MSME owners or managers as respondents. Data were collected through structured questionnaires and analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) with SmartPLS 4. Findings: The results show that smart financial management strategies have a positive and significant effect on MSME profitability and financial technology adoption. Financial technology adoption also has a positive and significant effect on MSME profitability. Furthermore, financial technology adoption partially mediates the relationship between smart financial management strategies and MSME profitability. These findings indicate that financial management capability improves profitability not only through direct financial efficiency, but also by encouraging the effective adoption and utilization of digital financial services. Conclusion: This study highlights the importance of integrating internal financial management capability with financial technology adoption as a strategic approach to improving MSME profitability. Theoretically, this study contributes to the fintech and strategic financial management literature by integrating the Resource-Based View and the Technology Acceptance Model in explaining MSME performance. Practically, the findings suggest that MSME development programs should combine financial management training, digital financial literacy, and fintech adoption assistance to strengthen business sustainability and competitiveness.
Policy Fragmentation and Coordination Uncertainty in Indonesia’s Bioethanol Industry Governance
Objectives: This study examines how policy fragmentation and coordination uncertainty influence governance dynamics and managerial decision-making in Indonesia’s fuel-grade bioethanol industry. Methodology: The study adopts an exploratory qualitative approach using semi-structured interviews with bioethanol industry actors, policymakers, and renewable energy researchers. Data were analyzed using grounded theory through thematic analysis and iterative coding procedures. Findings: The findings reveal that policy fragmentation produces multi-layered policy failure, including integration failure, orchestration failure, and enforceability failure, which together produce a pattern of fragmented policy governance. This condition generates coordination uncertainty that leads producers to adopt defensive managerial decisions such as delaying investment, underutilizing production capacity, and diverting to alternative markets. Weak knowledge governance further reinforces these coordination failures. Conclusion: Strengthening cross-ministerial coordination, institutionalized policy learning, and knowledge-based governance mechanisms is essential to reduce uncertainty and improve business certainty in Indonesia’s bioethanol industry within the context of green management and renewable energy transition.
E-Commerce Growth and Its Impact on Logistics Performance, Service Quality, and Customer Experience in Indonesia
Objectives: This study aims to analyze the impact of e-commerce growth on logistics performance, service quality, and customer experience in Indonesia. Based on Service-Dominant Logic (SDL), this study explores the role of logistics capabilities in creating customer value amidst the rapid growth of the digital commerce ecosystem. Methodology: The study employed a mixed-methods explanatory design. Quantitative data were collected from 150 e-commerce consumers and analyzed using AMOS-based Structural Equation Modeling (SEM). Qualitative data were obtained through interviews with logistics practitioners to strengthen and validate the quantitative results. Findings: The findings indicate that e-commerce growth has a significant positive effect on logistics performance. Logistics performance has also been shown to improve service quality, and service quality has a positive impact on customer experience. Furthermore, service quality mediates the relationship between logistics performance and customer experience. This indicates that operational capabilities create customer value through service perceptions. Conclusion: Qualitative results highlight the importance of last-mile delivery innovation, transparency, responsiveness, and service recovery in building trust and customer experience. This study adds to the SDL literature by demonstrating that logistics performance is a strategic resource whose value is realized through service quality. These findings are also relevant for e-commerce companies and logistics providers in emerging digital markets.
Sustainable Entrepreneurship Activities: A Pathway to Foster Intentions in Sustainability
Objective: Aligning with the role of entrepreneurship education in higher education institutions (HEIs), the purpose of this study is to develop a model of sustainable entrepreneurship activities and analyze the relationship of these variables to sustainability education and sustainable entrepreneurial intentions. The application of sustainable entrepreneurial activities is to develop the thinking in Schlange's (2006) study in order to prepare knowledge for entrepreneurs in a sustainable era. Methodology: The respondents were entrepreneurship students in Jakarta, Indonesia. A total of 193 students were involved as respondents using purposive sampling technique while the data processing used Smart-Pls. Finding: The result proves the indicators are valid and reliable in reflecting these variables. It shows sustainable entrepreneurship activity and sustainable education affect the formation of sustainable entrepreneurial intention. Sustainable education mediates the formation of intention among students at the HEIs. Conclusion: The sustainable entrepreneurship activity as an instrument to be tested on respondents who have sufficient knowledge about SDGs. This result relates with the theory of planned behavior commonly used to examine the testing of entrepreneurial intentions. It is useful to determine the relevance of the triple bottom line theory. This study can transform the thoughts of Schlange as a pathway in understanding SDGs
Career Plateau and Employee Outcomes: Evidence on Job Satisfaction, Performance, and Organizational Citizenship Behavior
Objectives: This study investigates the impact of career plateau (CP) on job satisfaction (KK), employee performance (KP), and Organizational Citizenship Behavior (OCB) among higher education support staff. Additionally, it examines whether job satisfaction and OCB serve as mediators in these relationships. Methodology: The study utilized a quantitative approach, employing Structural Equation Modeling with Partial Least Squares (SEM-PLS). Data were collected through questionnaires administered to 200 higher education staff members across multiple Indonesian institutions. Findings: The results indicate that career plateau significantly reduces job satisfaction but does not directly influence employee performance or OCB. Job satisfaction enhances OCB, which, in turn, improves employee performance. Mediation analysis reveals that career plateau affects performance indirectly through a sequential pathway involving job satisfaction and OCB. Conclusion: Career plateau primarily affects affective factors rather than directly influencing performance. Enhancing job satisfaction and fostering OCB are essential strategies to mitigate the negative consequences of career stagnation and improve staff performance in higher education.
Marketing Agility and Innovation: Boosting Performance in the Used Car Market
Objectives: Marketing agility has become a critical capability within firms classified as small and medium-sized enterprises (SMEs) to sustain marketing performance within increasingly dynamic and competitive markets. Within the context of Indonesia’s pre-owned car industry, the present research examines the intervening role of marketing innovation in explaining how marketing agility influences marketing performance. Methodology: A quantitative approach was employed using survey data collected from 289 used car SMEs operating in the Jabodetabek region. Partial Least Squares Structural Equation Modeling (PLS-SEM) was employed to analyze the data, with the model specified at both the first-order and second-order levels. Findings: The empirical results reveal that marketing agility exerts a significant positive influence on both marketing innovation and marketing performance. In addition, the findings indicate that marketing innovation partially mediates the relationship between marketing agility and marketing performance, suggesting that marketing agility influences performance both directly and indirectly through marketing innovation. At the dimensional level, proactiveness, responsiveness, and speed exhibit significant indirect effects on marketing performance through marketing innovation, whereas flexibility does not demonstrate a significant effect. Moreover, market turbulence is found not to moderate the relationships among marketing agility, marketing innovation, and marketing performance. Conclusion: The results emphasize the crucial role of marketing agility and marketing innovation in enhancing marketing performance under relatively stable market conditions.
Digitalization, Platform Dependence, and the Restructuring of Marketing Power in Small Enterprises
Objective: Marketing digitalization is increasingly viewed as a key strategy for strengthening the competitiveness of Micro, Small, and Medium Enterprises (MSMEs). However, empirical evidence on how digitalization affects the marketing power of MSMEs still shows mixed results and often assumes a direct impact. This study aims to explain how marketing digitalization shapes MSME marketing power through a gradual mechanism involving dependence on digital platforms and the loss of pricing autonomy. Methodology: This study examines the impact of digitalization intensity on marketing power among MSMEs, with platform dependence as a mediating variable. Using a quantitative approach, data were collected from 210 MSMEs in Kupang. The analysis was conducted using Partial Least Squares Structural Finding: The results show that digitalization intensity has a significant direct effect on marketing power (β = 0.431, p < 0.001). In addition, digitalization intensity significantly increases platform dependence, which in turn weakens pricing autonomy and affects marketing power. The mediation analysis indicates partial mediation, suggesting that digitalization influences marketing power both directly and indirectly through platform dependence. Conclusion: These findings highlight the dual role of digitalization as both an empowering and constraining force for MSMEs. This study contributes to the integration of Platform Economy Theory and Value Capture Theory by explaining how platform dependence can limit MSMEs’ ability to capture value. Practical implications are discussed for MSME actors and policymakers in managing digital platform engagement.
Strategic Human Resource Management and Employee Performance in Islamic Banking: The Mediating Roles of Work Motivation and Job Satisfaction
Purpose: This study examines the effect of financial compensation as a strategic human resource management practice on employee performance in Islamic banking. It also investigates the mediating roles of work motivation and job satisfaction in explaining this relationship. Methodology: A quantitative research design was employed using survey data collected from employees in the Islamic banking sector. The proposed relationships among financial compensation, work motivation, job satisfaction, and employee performance were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM). Findings: Financial compensation has significant positive effects on work motivation (β = 0.62; p < 0.001) and job satisfaction (β = 0.58; p < 0.001). Work motivation (β = 0.41; p < 0.001) and job satisfaction (β = 0.37; p < 0.001) also significantly improve employee performance. These findings demonstrate that financial compensation enhances employee performance indirectly by strengthening employees’ motivation and satisfaction, confirming the mediating roles of both variables. Conclusion: Competitive and equitable financial compensation constitutes a strategic human resource practice that can enhance employee motivation, job satisfaction, and performance in Islamic banking. Human resource managers should therefore develop transparent, performance-oriented, and Sharia-aligned compensation systems to retain employees and support sustainable organizational performance.
Comparative Study of Artificial Intelligence Accuracy on Project Team Member Assessment
Objectives: This study compares five AI platforms (ChatGPT 5.2, Claude Sonnet 4.5, Gemini 3 Pro, GLM 4.7, DeepSeek V3.2) with manual HR assessment in team performance evaluation, examining accuracy and predictive validity by correlating with program success rates. Methodology: Using a within-subjects design, 32 team members managing 619 locations were evaluated by six methods via standardized prompts. Analysis included comparative tests, accuracy metrics, and correlation between performance scores and graduation rates. Finding: All AI platforms scored higher than the HR baseline. Correlation analysis revealed substantial differences in predictive validity. Claude Sonnet 4.5 demonstrated the strongest correlation with graduation rates (ρ = 0.70), followed by GLM 4.7 (ρ = 0.67), accounting for approximately 50-55% of the outcome variability. The HR baseline unexpectedly showed a negative correlation with program success (ρ = -0.49), indicating misalignment between the evaluation criteria and actual effectiveness. DeepSeek V3.2 most closely matched HR scores but showed only moderate predictive validity, while ChatGPT 5.2 showed no meaningful relationship with outcomes. Conclusion: AI platforms differ substantially in predictive validity. Organizations should prioritize outcome-based validation over human agreement when selecting AI for HR decisions and consider recalibrating manual evaluation systems.
Human Resource Management Strategy in Flood Mitigation in Cultural Heritage Tourism Areas
Objectives: This study aims to analyze the human resource (HR) management strategy of the Semarang City Government in flood mitigation efforts in the Old City cultural heritage area. Although various technical measures have been implemented, the effectiveness of flood mitigation still depends heavily on the quality, coordination, and preparedness of the human resources involved. Methodology: This research uses a descriptive qualitative approach with data collection techniques through interviews, observations, and documentation studies. Data analysis was conducted in four stages: data collection, data condensation, data presentation, and drawing conclusions. Finding: The research results show that the Semarang City Government has implemented several stages of disaster mitigation, including documentation of cultural heritage assets, threat assessments, and flood prevention measures through the construction of polders and pump houses. However, weaknesses were still found in the vulnerability assessment stage, which lacked support from conservation experts and a solid cross-agency coordination system. Conclusion: Overall, the human resource management strategy for flood mitigation in Kota Lama has been quite successful, but not yet optimal. Strengthening employee capacity, increasing inter-agency collaboration, and empowering the community are key to maintaining the sustainability of cultural heritage tourism destinations from the threat of flooding.
Financial Inclusion and Taxation in Digital Finance: Mediating Organizational Capabilities in Indonesian Startups
Objective: This research evaluates whether financial inclusion and taxation shape the use of digital finance by Indonesian startups, both independently and through three firm-level capabilities: corporate governance, financial literacy, and technological innovation. Institutional Theory is combined with Dynamic Capability Theory to clarify how external institutional conditions are converted into organizational resources for digital financial transformation. Methodology: An explanatory quantitative survey was analyzed through Partial Least Squares Structural Equation Modeling in SmartPLS 4. From a population of 2,558 registered Indonesian startups, purposive screening produced 100 valid firm-level responses. The analysis first examined measurement reliability and validity and then assessed the direct paths and specific mediation effects in the structural model. Findings: Financial inclusion and taxation were each positively associated with digital finance through significant direct and indirect routes. Broader financial access supplies resources and connections to formal services, whereas tax requirements encourage transparent reporting, accountability, compliance, and process modernization. Governance quality, financial competence, and innovation operate jointly in translating institutional access and regulatory pressure into practical digital-finance implementation. Conclusion: Enduring digital transformation requires an enabling financial and regulatory environment together with capable internal systems. Public policy should pair inclusion and digital-tax initiatives with support for governance, financial skills, and technology readiness. Startup leaders should likewise invest in internal controls, employee competence, and digital infrastructure to strengthen competitiveness and continuity.
The Influence of Bank Risk and Third-party Funds on Bank Performance in South Korea’s Commercial Bank
Objectives: This study aims to analyze the effects of bank risks (credit, market, and operational risks) and third-party funds (TPF) on the performance of South Korean banks. Methodology: This study employed a quantitative research method to achieve the research objectives. Panel data regression using a fixed-effects model was applied to examine the relationships between the variables. Secondary data were collected from the South Korean Financial Supervisory Service, covering 12 conventional commercial banks. The study period spans from December 2015 to December 2023. Finding: The findings show that market risk, operational risk, and third-party funds significantly influence the profitability of South Korean commercial banks. Meanwhile, credit risk has no significant effect on bank performance. Conclusion: Market risk, third-party funds (TPF), and operational risk are important determinants of bank performance. Effective risk management, consistent with Basel standards, can improve operational efficiency, reduce costs, and increase net profit. However, this study finds that credit risk has no significant effect on bank performance.
Structural Drivers of Corporate Resilience during Economic Crises: An ISM–MICMAC Approach
Economic crises have repeatedly exposed firms’ vulnerabilities in absorbing shocks, adapting to adverse conditions, and restoring performance. Corporate resilience has therefore become a critical concept in understanding firms’ ability to survive and recover during periods of economic disruption. However, existing studies largely examine resilience determinants in isolation, offering limited insight into their structural and hierarchical interdependencies. Objectives: This study aims to examine corporate resilience during economic crises by adopting a structural perspective that recognizes the interdependencies among key resilience determinants and identifies their hierarchical roles within an integrated system. Methodology: This study adopts a qualitative structural research design using Interpretive Structural Modeling (ISM) combined with MICMAC analysis. Twelve determinants of corporate resilience were identified through an extensive literature review and validated by expert judgment involving academics and finance practitioners. Findings: The results show that liquidity and buffer capacity function as foundational driving factors enabling financial flexibility, which serves as an intermediate structural mechanism. Stability and adaptability act as linkage mechanisms that translate financial capacity into operational continuity, while recovery performance emerges as a dependent outcome. The absence of autonomous variables indicates that all determinants are structurally interconnected. Conclusion: The study concludes that corporate resilience during economic crises should be strengthened through a layered and sequential approach rather than isolated improvements in individual indicators, emphasizing the importance of aligning financial and operational mechanisms according to their structural roles. Keywords: Corporate resilience; Financial flexibility; Liquidity management; Crisis management; Interpretive Structural Modeling (ISM)
Profitability of Islamic Banks in the Pressure of Productive, Consumptive, and CKPNAK Problematic Financing
Objectives: The profitability of Islamic banks does not always decrease directly when non-performing financing increases. The impact is different between productive and consumptive financing, and is influenced by the dynamics of CKPNAK costs. Therefore, this assessment is important because previous research used a lot of aggregate NPFs, so it has not sufficiently explained the risk path based on financing segments. The purpose of this study is to analyze the influence of Problematic Productive Financing and Problematic Consumptive Financing on the profitability of Islamic banks in Indonesia, either directly or through Current Productive Financing, Current Consumptive Financing, and CKPNAK Costs. Methodology: The study uses a quantitative approach with monthly data on the Indonesian Islamic banking industry for the period January 2010–July 2023 and analyzed using PLS-SEM. Finding: PPB does not have a direct effect on profitability, but increases CKPNAK Costs. PKB reduces PKL and profitability directly. PKL increase profitability, while PPL does not always strengthen profitability. The novelty of this research is that this study separates the risks of productive and consumptive problematic financing and places CKPNAK as a risk transmission mechanism. Conclusion: The profitability of Islamic banks is more accurately understood through risk management based on the financing segment.
Financial Early Warning Signal, Stock Prices, and Bankruptcy Risk: Evidence from Listed Energy Companies in Indonesia
Objectives: This study investigates whether financial and non-financial early warning indicators impact stock prices and insolvency risk, and whether stock prices mediate the relationship between these indicators. The study is driven by the significance of investors’ comprehension of economic health in the investment decision-making process Methodology: This study applies a quantitative approach using secondary data from 15 listed energy companies, during 2018 to 2023. The study specifically utilises Generalized Structural Equation Modelling (GSEM) to handle the simultaneous estimation of direct and indirect effects in a panel data setting. Finding: The results reveal a significant market failure: while Solvency, Profitability, and Litigation History directly predict insolvency, Stock Price fails to mediate these relationships. This rejection of the mediation hypothesis indicates that the market is 'noisy' and decoupled from internal fundamentals, driven instead by global 'fossilflation' sentiments. Conclusion: Consequently, stock prices are proven unreliable as early warning signals, suggesting stakeholders should prioritise direct monitoring of fundamental ratios over market valuation.
Employee Productivity in Banking: The Role of Transformational Leadership and Work-Life Balance with Work Motivation as a Mediator (McClelland Theory)
Objectives: This study aims to examine the effects of transformational leadership and work-life balance on employee productivity, with work motivation serving AS a mediating variable based on McClelland’s Theory of Needs. The study seeks to explain how leadership practices and employee well-being contribute to productivity enhancement in the banking sector. Methodology: This research employed a quantitative explanatory approach. Data were collected through structured questionnaires distributed to employees of Bank Syariah Indonesia (BSI) in the Gresik Region. The population consisted of 250 employees, and a sample of 154 respondents was selected using simple random sampling. Data were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) to evaluate the measurement and structural models, including direct and indirect effects among variables Finding: The findings suggest that transformational management definitely and drastically impacts employees. productiveness (β = 0.30; p < zero.001) and work motivation (β = 0.45; p < zero.001). work-lifestyles stability also positively and significantly affects worker productiveness (β = zero.25; p = zero.003) and work motivation (β = 0.35; p < 0.001). moreover, work motivation notably affects employee productiveness (β = zero.forty; p < 0.001). The mediation analysis shows that paintings motivation in part mediates the relationships among transformational management and worker productiveness (β = zero.18; p < zero.001), in addition to among work-life stability and worker productivity (β = zero.14; p = zero.001). The structural model explains sixty five% of the variance in paintings motivation and seventy two% of the variance in worker productivity. Conclusion: This research finds that Employee productivity in the banking sector is affected by both organizational elements and motivational aspects. The findings extend McClelland’s Theory by demonstrating that work motivation acts as a crucial link between transformational leadership and work-life balance to employee productivity. Therefore, banking organizations should strengthen transformative leadership practices and paintings-lifestyles balance policies to enhance worker motivation and achieve sustainable productivity improvements.
Building Fashion Customer Loyalty through Brand Awareness and Social Media Marketing: The Mediating Role of Brand Trust and Moderating Brand Reputation
Objectives: This study examines how Brand Awareness and Social Media Marketing influence Brand Loyalty among Uniqlo consumers in Indonesia by investigating the mediating role of Brand Trust and the moderating role of Brand Reputation. The study also addresses the empirical inconsistency regarding the direct and moderating roles of Brand Reputation in developing customer loyalty within the fashion retail industry. . Methodology: This study employed a quantitative explanatory survey using a purposive sampling technique. The respondents consisted of 250 Uniqlo consumers in Indonesia who had purchased Uniqlo products at least twice through online or offline channels. Data were collected using a structured online questionnaire distributed through Google Forms and analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) with SmartPLS 4.0. Finding: Results show that brand awareness has a direct positive impact on brand loyalty as well as an indirect impact via brand trust. Similarly, social media marketing has a direct effect on brand loyalty through brand trust. Brand Trust turned out to be the strongest predictor of Brand Loyalty. Additionally, it was found that brand reputation had a negative effect on brand loyalty but a positive moderating effect on the relation between brand trust and brand loyalty. Conclusion: The findings demonstrate that Brand Trust is the central mechanism linking Brand Awareness and Social Media Marketing to Brand Loyalty. While Brand Reputation alone does not directly enhance customer loyalty, it reinforces the positive influence of Brand Trust on Brand Loyalty. Therefore, fashion retailers should prioritize strategies that strengthen consumer trust through consistent product quality, transparent communication, and meaningful customer engagement while maintaining a favorable Brand Reputation to support long-term customer loyalty.
The Role of Sustainable Entrepreneurship, Organizational Resilience, and Management Practices in the Success of Women’s MSMEs in the Digital Era
This study examines the roles of sustainable entrepreneurship, organizational resilience, and management practices in the success of women-owned micro, small, and medium enterprises (MSMEs) in the digital era. Drawing on the Resource-Based View (RBV) and Dynamic Capabilities Theory, the study develops and tests a conceptual model that positions organizational resilience as a mediating variable, while management practices and digital transformation act as moderating variables. Objectives: To analyze the effects of sustainable entrepreneurship and organizational resilience on the success of women-owned MSMEs and to test the moderating roles of management practices and digital transformation in these relationships. Methodology: This study employed a quantitative approach with a correlational design. The sample consisted of 100 active women entrepreneurs in the MSME sector in Malang City and its surrounding areas, selected through purposive sampling. A five-point Likert-scale questionnaire was tested for construct validity using Confirmatory Factor Analysis and for reliability using Cronbach’s alpha (α ≥ 0.70). Data were analyzed using hierarchical multiple regression, classical assumption tests, mediation analysis, and moderation analysis.. Finding: Sustainable entrepreneurship (β = 0.65; p < 0.001) and organizational resilience (β = 0.72; p < 0.001) had positive and significant effects on business success. Organizational resilience partially mediated the relationship between sustainable entrepreneurship and business success. Management practices and digital transformation moderated these relationships by strengthening the positive effects of sustainability and resilience on business performance. The R² value of 0.71 indicates that the model explained 71% of the variance in business success. Conclusion: The integration of sustainable entrepreneurship and organizational resilience, supported by effective management practices and digital transformation adoption, represents a strategic pathway for improving the competitiveness and success of women-owned MSMEs. These findings extend Dynamic Capabilities Theory by demonstrating that sustainability and resilience capabilities function as mutually reinforcing dynamic resources.