Business Commons^™

Linking Sustainability Performance To Stock Resilience During And After Covid-19 Crisis: Evidence From Southeast Asia, Khalilul Rahman, Retnosari Retnosari, Sanda Patrisia Komalasari, Muhammad Wafiq

Jurnal Akuntansi dan Keuangan Indonesia

Background: The COVID-19 pandemic severely disrupted markets. While sustainability performance measured by ESG scores theoretically buffers against shocks, its efficacy in emerging markets with nascent sustainability frameworks remains underexplored. Method: We analyze a balanced panel of 1,395 observations from 279 non-financial Southeast Asian firms (2020–2024). Using OLS, lagged, and fixed effects models, we compare the impact of sustainability performance on stock resilience during the 2020–2022 and post-pandemic (2023–2024) periods. Findings: Sustainability performance (ESG scores) significantly enhanced stock resilience during the pandemic. However, this protective effect dissipated post-pandemic. Results confirm a statistically significant improvement in overall resilience following the crisis, as …

Integrating Esg Principles Into Innovation, Entrepreneurship, And Human Development For Sme Performance: Evidence From The Creative Industry In Lombok, Adi Septiawan, Erne Suzila Kassim, T Ramayah, Sri Rahayu Hijrah Hati

The South East Asian Journal of Management

Research Aims: The current study investigated the influence of ESG-integrated innovation strategies, entrepreneurial orientation, and human capital development on the organisational performance of creative-industry SMEs in Lombok, Indonesia, using the resource-based view (RBV) as a theoretical perspective.

Design/Methodology/Approach: A survey was conducted among a total of 200 SMEs in the creative industry in Lombok, Indonesia. The data were collected using structured questionnaires and analysed on the SmartPLS 4.0 software for structural equation modelling (SEM).

Research Findings: The current results indicated ESG-aligned leadership, innovation, entrepreneurial orientation, and human capital development significantly enhanced the level of organisational performance among creative-industry SMEs in …

Process Fairness As A Mediator Of The Relationship Between Reward Communication And Organisational Attachment, Azman Ismail, Ummu Ajirah Abdul Rauf, Muhammad Ajib Abd Razak, Nik Hasfizul Hassan

The South East Asian Journal of Management

Research Aims: The study examines the mediating role of process fairness in the relationship between reward communication and organisational attachment.

Design/Methodology/Approach: Cross-sectional data were collected from 437 employees at Malaysian public tertiary education institutions using purposive sampling. The data were analyzed using SmartPLS to examine both the measurement and the structural equation models.

Research Findings: Process fairness is a crucial mediating variable between reward communication and organisational attachment.

Theoretical Contribution/Originality: This study extends Leventhal’s (1976) Self-Interest Model and Shapiro’s (1993) Model of Procedural Justice by examining the role of process fairness as a mediating variable between reward communication and organisational …

The Impact Of Employee Recognition Practices To Job Satisfaction In Business Process Outsourcing (Bpo): The Mediating Role Of Employee Productivity, Genesis S. Austria, Celso S. Alicante Jr., John Crisjer A. Araullo, Erica Shane B. Belleza, Peter Daniel S. Gutierrez, Daisy R. Payawal, Erwin Stuart C. Toledo

The South East Asian Journal of Management

Research Aims: This study investigates the impact of employee recognition practices on job satisfaction in the BPO industry, with employee productivity examined as a mediating variable. It addresses the persistent challenge of high attrition in the Philippine BPO sector, where demanding performance standards and work conditions heighten the need for effective recognition mechanisms.

Design/Methodology/Approach: A quantitative research design was employed using survey data collected from 701 employees working in BPO companies across Metro Manila. PLS-SEM was utilized to test the direct and mediating relationships among variables.

Research Findings: Results indicate that employee recognition has a significant positive effect on job …

After-Hours Digital Connectivity, Emotional Exhaustion, Service Quality, And Turnover Intention Among Hotel And Resort Employees, Badaruddin Badaruddin, Fatmasari Fatmasari, Sitti Mujahida, Muhammad Azizurrohman

The South East Asian Journal of Management

Research Aims: This research evaluates whether after-hours digital connectivity is associated with emotional exhaustion among frontline hotel and resort employees in Indonesia and whether exhaustion transmits its effects to service quality and turnover intention. It also tests psychological detachment as a boundary condition.

Design/Methodology/Approach: A cross-sectional survey was conducted from December 2025 to February 2026. Purposive sampling produced 294 usable responses from frontline employees who routinely used digital communication for work coordination. The model was estimated using partial least squares structural equation modelling (PLS-SEM), including direct, indirect, and interaction effects.

Research Findings: After-hours digital connectivity significantly increased emotional exhaustion. Exhaustion, …

Innovation Ecosystem Model To Achieve Sustainability In Palm-Oil Biofuel Development In Indonesia, Fanny Rahmadhitya, Avanti Fontana, Ignatius Heruwasto

Journal of Environmental Science and Sustainable Development

Achieving sustainable expansion of Indonesia’s palm-oil biofuel sector requires overcoming two interconnected challenges: ecological limits on feedstock expansion and weak translation of research into industry adoption. Although innovation ecosystem research emphasizes multi-actor collaboration, existing innovation ecosystem research provides limited understanding of how governance and innovation intermediation can bridge these gaps in the palm oil biofuel sector. Using a constructivist grounded theory approach, the study draws on 12 semi-structured interviews with key policymakers, industry practitioners, and researchers, analyzed using constructivist grounded theory (CGT) and triangulated with policy documents and a structured comparison with Malaysia. The findings reveal two interconnected bottlenecks. First, …

Editorial Note: Navigating Institutional Complexity Across State, Civil, And Market Sectors, Muhammad Ramaditya, Rijal Ramdhani

BISNIS & BIROKRASI: Jurnal Ilmu Administrasi dan Organisasi

No abstract provided.

Transfer Pricing Dispute Resolution: How Feasible Is The Implementation Of Safe Harbors In Indonesia?, Daniel Edgar Hirasma Saragi, Antonius Ragil Kuncoro

BISNIS & BIROKRASI: Jurnal Ilmu Administrasi dan Organisasi

This study aims to explore the feasibility of implementing safe harbors in transfer pricing regulations in Indonesia. Safe harbors are alternative tax policies for taxpayers on specific transactions, which can exempt them from general provisions if meets certain specific regulations set by the tax authority (United Nations, 2017). Using a qualitative methodology, this study explores data from various literature and the results of interviews with experts in the field of transfer pricing. Moreover, this research utilizes interpretative paradigm, inductive approach, and descriptive study. With the help of NVIVO software, the researcher conducted a thematic analysis of the data obtained. This …

Consumer Perceptions Of Diversity, Equity And Inclusion In A Heritage Beauty Branding: Pathways To Brand Image, Connection, Love, And Loyalty, Nuzul Riska, Anni Rahimah, Kadarisman Hidayat

BISNIS & BIROKRASI: Jurnal Ilmu Administrasi dan Organisasi

In an increasingly competitive and socially conscious marketplace, Diversity, Equity, and Inclusion (DEI) initiatives are emerging as powerful strategic tools for brand differentiation and consumer engagement. This study investigates the influence of DEI-driven marketing strategies on brand image and brand connection, and their subsequent impact on brand loyalty, with brand love examined as a moderating variable within the beauty industry. Employing a quantitative, explanatory research design, data were collected from 250 respondents using purposive sampling and analyzed through Partial Least Squares Structural Equation Modeling (PLS-SEM). The findings reveal that DEI significantly enhances both brand image and brand connection. While brand …

Green Finance’S Role In Bank Risk: Empirical Evidence From The Emerging Economy, Viverita Viverita, Dwi Nastiti Danarsari, Ratih Dyah Kusumastuti, Ruhaini Muda

Journal of Environmental Science and Sustainable Development

Indonesia’s Financial Services Authority (OJK)’s sustainable finance roadmap, phases I and II, primarily aims to facilitate sustainable development by integrating economic, social, and environmental considerations into financial policies. A special objective is to promote the development of green financial products and services. This policy allows banks to mitigate reputational and regulatory challenges. Nevertheless, the prompt implementation of green credit may entail transition risks, such as policy adjustment costs. A limited body of research examines the direct relationship between green finance and bank risk, particularly in the context of sustainability mandates. This study analyzes the influence of green finance on banking …

Regional Creative Economy Resilience Index: An Analysis Of The Creative Industry's Role In Fostering National Economic Resilience According To Asta Cita, Dks Nugraha Nugraha, Ramadhania Mumtaz Keesa

Jurnal Vokasi Indonesia

Indonesia's creative economy has survived worldwide economic shifts, especially the COVID-19 epidemic. This industry now drives innovation, culture, and technology. No systematic technique exists to quantify the creative ecosystem's impact on regional economic resilience. The Regional Creative Economy Resilience Index (IRED) is a conceptual model based on Asta Cita 2024–2029's eight strategic missions. This article uses the Asta Cita framework to describe how the creative industry strengthens national economic resilience and advances the IRED idea as a data-driven research and policy tool. This qualitative-descriptive study synthesizes 20 periodicals (2020–2025), analyzes policy, and maps themes using Asta Cita. Source triangulation …

Information Technology General Controls And The Reliability Of Digital Accounting Systems In Supporting Internal Control Over Financial Reporting, Radina -. Modjaningrat, Titis Wahyuni M.Si., Zahra Raesa Ananda

Jurnal Vokasi Indonesia

Digital transformation has increased organizational reliance on the Digital Accounting Information System (DAIS) to support financial reporting, making the effectiveness of Information Technology General Controls (ITGC) a critical factor in maintaining system reliability and supporting Internal Control over Financial Reporting (ICoFR). This study aims to evaluate the implementation of ITGC and explain its implications for the reliability of DAIS, Information Technology Application Controls (ITAC), Information Technology-Dependent Manual Controls (ITDM), and ICoFR. The study uses a qualitative conceptual-evaluative approach through literature studies and analysis of ITGC evaluation documents at a bank. The evaluation was conducted on four ITGC domains: Access to …

An Evaluation Of Green Energy Implementation In The Household Sector : The Use Of Energy-Efficient Lighting In Dki Jakarta, Aldi Gilang Permana

Cities and Urban Development Journal

Background: Rapid population growth and urban activities in DKI Jakarta have led to an increase in energy consumption, particularly in the household sector. This condition highlights the need for the implementation of the green housing concept, especially in terms of green energy, to promote more efficient and environmentally friendly energy use. One of the most common efforts is the use of energy-efficient lighting as a form of energy efficiency in household lighting systems. Although the adoption rate is relatively high, the implementation of green energy remains suboptimal, as the utilization of renewable energy such as solar panels is still very …

Ethics Under Siege: The Conflict In Tigray Through The Lens Of Just War Theory, Daniela Widya Purba

Journal of Strategic and Global Studies

This research article explains the ethical principles of the conflict in Tigray based on the Just War Theory. By using the descriptive qualitative methodology, this research article draws data from secondary sources which includes; academic journals, news reports, as well as international legal instruments to analyze the moral trajectory of the conflict. This research begins with jus ad bellum, to assess Ethiopia’s government justification in declaring conflict within Tigray. While the government fulfilled the criteria of just cause and legitimate authority, the question stands on the ambiguous political intentions and the failure to enact peaceful alternatives before resulting in waging …

Presidential Visits As Foreign Policy Instruments: U.S. Indo-Pacific Strategy In Trump’S Second Term, Atar Thaung Htet

Journal of Strategic and Global Studies

Through an analysis of President Donald Trump's October 2025 travel to Asia, this study investigates the consequences of U.S. Indo-Pacific strategy under his second-term diplomacy. The paper examines three significant diplomatic encounters—the ASEAN Summit in Malaysia, bilateral meetings in Japan, and the APEC Summit in South Korea—using a qualitative case study methodology based on role theory and foreign policy analysis. The results show that alliance-centered security cooperation, strategic balancing toward China, and selective economic engagement were U.S. Indo-Pacific goals. Through extremely transactional and bilateralized relations, presidential diplomacy allowed the United States to fulfill a number of foreign policy responsibilities, such …

The Impact Of Local Content Requirements Policy For 4g Lte Cell Phones On The Performance Of The Indonesian Telecommunications Industry, Gary Dabelza Abi, Mohamad Dian Revindo, Indri Br Situmorang

Journal of Strategic and Global Studies

This study examines the impact of Indonesia's 2017 tightening of Local Content Requirements (LCR) for fourth-generation long-term evolution (4G LTE) mobile phones on firm performance in the telecommunications manufacturing industry, a setting characterized by a large domestic market but limited upstream electronics capability. Using firm-level data from the 2016 Economic Census and the 2017-2018 Large and Medium Manufacturing Survey, we examine the effects of raising the minimum LCR threshold from 20% to 30% on firm output, labor productivity, imported input intensity, and foreign capital ownership through pooled regressions with firm-level controls. The results show that the stricter LCR threshold is …

Ripples Of A Global Health Crisis: 2019’S Pandemic And Its Impact On Sharia-Compliant Equities In Oic Countries, Windiya Saputri, Nur Fatwa, Nurwahidin Nurwahidin

Journal of Strategic and Global Studies

The outbreak of COVID-19 marked not only a global health emergency but also a strategic shock with profound economic implications, particularly for developing economies. This study investigates how Sharia-compliant stock markets in selected OIC countries responded to the World Health Organization’s declaration of COVID-19 as a global pandemic on March 11, 2020. Using an event study approach, the analysis focuses on abnormal returns (AR) from six major Islamic indices representing Indonesia, Malaysia, Saudi Arabia, the United Arab Emirates, Pakistan, and Qatar. The results reveal that the pandemic announcement carried significant informational content, as reflected in the notable ARs across all …

Participatory Approach To Revitalization Of Inclusive, Resilient, And Sustainable Public Space, Ma'ruf Ma'ruf, Firman Syakri Pribadi, Sari Surya, Suryadi Suryadi, Yofan Syarif

ASEAN Journal of Community Engagement

Sustainable Development Goal (SDG) 11 emphasizes the role of cities in providing safe, inclusive, and accessible green public spaces. Therefore, this study investigates the participation process in revitalizing a public space through the perspectives of various stakeholders, including religious, cultural, women, and youth leaders, on the revitalization of historical public spaces in Indonesia. A focus group discussion was conducted to capture stakeholder insights on the design of public space in Pariaman City, West Sumatra. Thematic analysis identified eight key themes relating to the design of Lapangan Merdeka and plans for revitalization. Participants emphasized the potential to evolve into a vibrant, …

What Drives Indonesian Muslims To Waqf? An Analysis Of Behavioral Intention Toward Cash Waqf Linked Deposit (Cwld), Abdullah Zaid Khoiri, Kenny Devita Indraswari, A. Azizon, Tika Arundina

International Journal of Islamic Economics and Business Sustainability

Purpose – The purpose of the paper is to find out the factors that affect the intention of Indonesian Muslims to participate in Cash Waqf Linked Deposit (CWLD), a new Islamic banking product that combines cash waqf and sharia time deposits, launched in Indonesia in late 2023 to help overcome the gap between the potential cash waqf in the country and its actual collection.

Design/methodology/approach – This study employed an Extended Theory of Planned Behaviour (TPB) model which included religiosity, knowledge, trust and perceived benefit in addition to attitude, subjective norm and perceived behavioural control. The primary data were …

Systematic Review Of The Institutionalization Of Service Learning In Higher Education, Wilmer Hernan Cruz Gutierrez

ASEAN Journal of Community Engagement

An increasing number of universities are integrating service-learning (SL) to fulfill their social mission. However, sustainable institutionalization of SL remains a persistent challenge. This study identifies and analyzes the factors, actors, and strategies that drive and inhibit SL institutionalization in higher education. Using the PRISMA 2020 guidelines, a systematic literature review analyzed 52 documents from seven academic databases (including WoS, Scopus, and ERIC). The findings were grouped into three sections: cultural (integration into institutional values/missions), process (articulation within teaching, research, and outreach), and structural dimensions (dedicated support entities). The results obtained reveal a reciprocal relationship where cultural alignment enables processual …

Batujaya Sebagai Destinasi Wisata Edukasi Sejarah, Retno Raswaty

Multikultura

The Batujaya site in Karawang Regency is a National-level Cultural Heritage Area that houses the oldest Buddhist temple complex on Java Island. However, its potential as an educational tourism destination has not yet been optimally developed. This article examines the educational value of Batujaya through experiential learning, historical thinking, and episodic memory approaches. It demonstrates that direct learning at historical sites delivers a stronger cognitive and affective impact compared to textual learning in the classroom. Based on archaeological findings, Batujaya is identified as having a dual function as both a center of worship and a center of learning in the …

Digital Government Maturity Dan Kapasitas Fiskal Dalam Penyerapan Anggaran Daerah Di Indonesia, Winda Chelsea Meisari, Siti Fatimah

Jurnal Administrasi Bisnis Terapan

This study examines the determinants of budget absorption within Indonesian provincial governments by assessing the impact of digital government maturity and regional fiscal capacity. Digital maturity is operationalized using the Electronic-Based Government System (SPBE) index, while fiscal capacity is proxied by the Natural Logarithm of Local Genuine Revenue (Ln_PAD). Adopting a quantitative approach with a cross-sectional design encompassing 38 provinces in 2024, the data were evaluated through multiple linear regression analysis. The empirical findings demonstrate that neither digital maturity (p-value = 0.966) nor fiscal capacity (p-value = 0.774) exhibits a statistically significant relationship with budget absorption, both partially and simultaneously …

Perdagangan Lintas Batas Dan Perubahan Sosial Masyarakat Desa Entikong Di Perbatasan Indonesia–Malaysia, Okianna Okianna, Yoga Mandala, Sandra Fitria Wardani

Jurnal Administrasi Bisnis Terapan

This study examines the patterns and mechanisms of cross-border trade and its contribution to social change among economic actors in Entikong Village, a border area between Indonesia and Malaysia. The research aims to identify formal and informal trade patterns, the factors influencing economic activity, and the socioeconomic impacts experienced by local economic actors. A descriptive qualitative approach was employed, with eight informants selected purposively, comprising a village government official, two porters, two parking attendants, one herbal-medicine vendor, one street vendor, and one food-stall operator in the vicinity of the Entikong Border Crossing Post (PLBN). Data were collected through in-depth interviews …

Who Pays Dividend? Statistical Explanation And Machine Learning Prediction: Evidence From Pakistan, Zohaib Aziz, Javed Iqbal

The Indonesian Capital Market Review

This study explains and predicts the firm’s dividend payment decision using an unbalanced panel dataset of non-financial firms listed on the Pakistan Stock Exchange covering the period 2009-2020. Several traditional statistical models and modern machine learning algorithms are applied to examine the firm-specific and macroeconomic determinants of dividend decision. Logistic regression and dynamic panel probit models indicate that lagged dividend, firm efficiency and firm size positively influence the firm’s dividend decision whereas leverage and sales growth show negative effects. Lagged dividend is found to be the most influential variable in explaining and predicting the dividend decision while the role of …

Ceo Gender, Trade Credit, Covid-19 Pandemic, And Corporate Dividend Policies In Vietnam, Trang Ngoc Doan Tran Ms., Linh Ngoc Thi Nguyen Ms., Dung Phuong Ngoc Tran Ms., Khoa Dang Duong Dr.

The Indonesian Capital Market Review

This comprehensive study examines the dynamic interplay among CEO gender, trade credit, and dividend policies across 563 listed companies in Vietnam from 2006 to 2024. Employing the Generalized Method of Moments to address the endogeneity issue. The findings show that firms led by female CEOs distribute significantly lower dividends than those led by male CEOs. Moreover, a positive nexus exists between trade credit and the dividend payout ratio of listed firms in Vietnam. Furthermore, the study reveals that CEO gender moderates the relationship between trade credit and dividend payouts in Vietnam. Finally, our robustness tests confirm that the results remain …

Agricultural Cooperatives And Crop Marketing In Tanzania, Benson Otiene Ndiege Dr

Jurnal Vokasi Indonesia

Agricultural cooperatives have become essential tools in rural areas, fostering agricultural development. This study examines the marketing of farmers' produce by cooperatives in Tanzania. It specifically investigates the collection processes of agricultural produce through cooperatives and the importance of cooperative marketing during the 2023/24 to 2024/25 seasons. The study used a descriptive mixed-methods design that mixed both qualitative secondary data analysis and qualitative documentary review. As such, the study utilised secondary data from the Tanzania Cooperative Development Commission (TCDC) statistical database and the report on the performance of non-financial cooperatives in Tanzania in 2025. The data included variables such as …

Building Resilient And Sustainable Built Environments Through Climate Adaptation, Digital Innovation, And Infrastructure Governance, Mohammed Ali Berawi, Mustika Sari, Perdana Miraj

CSID Journal of Infrastructure Development

The built environment has become one of the most important arenas for responding to climate change, resource pressure, and rapid urban transformation. Cities, infrastructure networks, buildings, and construction projects are no longer expected only to provide physical services. They are also expected to reduce environmental impact, protect communities from disruption, support economic activity, and remain useful under uncertain future conditions. This expectation places resilience and sustainability at the center of infrastructure development.

Resilience refers to the capacity of built systems to anticipate shocks, absorb pressure, recover from damage, and continue functioning. Sustainability asks whether those systems can do so while …

Experimental Studies Of Compressive Strength Of Sustainable Concrete With Partial Cement Substitution Using Palm Oil Boiler Ash, Daral Suraedi, Jessica Sjah, Nuraziz Handika, Saffanah Fasya Aulia, Karmenita Olivia Edwardo

CSID Journal of Infrastructure Development

This study investigates the mechanical performance of sustainable concrete incorporating Palm Oil Boiler Ash (POBA) as a partial cement replacement. As the construction sector seeks to reduce CO₂ emissions and manage agro-industrial waste, POBA emerges as a promising supplementary cementitious material due to its pozzolanic potential and abundance in palm oil–producing regions such as Indonesia.Concrete specimens were prepared with POBA substitution levels ranging from approximately 10% to 30% by weight of cement, in combination with nanosilica and a polycarboxylate ether (PCE) superplasticizer to enhance performance. The mix design was developed in accordance with ACI 211 guidelines to maintain comparable workability …

Analysis Of Venture Capital Investment For Financing The Development Of The Palm Oil Industry In Indonesia For Private Companies, Salvatore Yitro, Mustika Sari, Gunawan Saroji

CSID Journal of Infrastructure Development

Indonesia is the world's largest crude palm oil (CPO) producer, accounting for 58.04% of global output from 2018 to 2022 and generating between USD 18.2 billion and USD 28.95 billion in annual foreign exchange earnings from 2016 to 2021. The downstream sector, however, remains largely controlled by foreign markets, and private companies face restricted access to conventional bank financing due to negative campaigns against Indonesian palm oil in European markets. No prior study has examined the financial feasibility of venture capital as a financing mechanism for integrated downstream palm oil development by private companies in Indonesia. This study analysed that …

Analysis Of Factors Influencing The Implementation Of Sustainable Project Management (Spm) In The Construction Industry In Indonesia, Ariq Farhan, Titi Sari Nurul Rachmawati

CSID Journal of Infrastructure Development

The construction industry contributes significantly to economic growth but also carries substantial environmental and social costs. Construction activities generate carbon emissions, consume natural resources, and produce large volumes of waste. Despite growing theoretical development of Sustainable Project Management (SPM) frameworks, empirical evidence on the actual level of SPM implementation in Indonesia's construction sector remains limited. This study aims to identify the factors that influence SPM implementation and measure the level of implementation as perceived by construction professionals. A quantitative survey was administered to 99 professionals across infrastructure, building, and industrial construction sectors in Indonesia. Data were collected through a Likert-scale …