Journal of Social Commerce

Sectoral Market Sensitivities to Macroeconomic Signals and Global Moderators in a Digitally Shifting Investment Landscape

2025-07-02T19:09:33+07:00

This paper will look into the effects of rupiah exchange rate, inflation and interest rates on the composite stock price index (IHSG), as well as the nine sectoral indices in the Indonesian financial market. Since the behavior of the market is being increasingly defined by wider systemic factors, the analysis introduces the money supply and the Dow Jones Industrial Average (DJIA) index; which acts as moderating variables; that either alleviates or reduces the extent or orientation of these macroeconomic relationships. The quantitative study design was selected that implies the use of multiple regression and Moderated Regression Analysis (MRA) with monthly data collected in the period between January 2019 and December 2023. The findings show that the macroeconomic variations are not evenly spread in all sectors. The inflationary pressure and exchange rate changes are sector specific whereas interest rate movements mostly put pressure on the downward side particularly in capital-intensive sectors. The tempering influence of liquidity and international sentiment is also created to be highly considerable showing that the receiving of a macroeconomic message is not only a factor of investor response but also a factor of the interpretive condition under which it is conveyed.

Financial Literacy and Retirement Planning in the Age of Digital Behavior and Socioeconomic Transformation

2025-04-22T14:30:08+07:00

Financial literacy and retirement planning are critical aspects of personal finance that play a vital role in individuals' financial well-being and long-term security. This paper presents a bibliometric analysis of research articles in the Scopus database focusing on financial literacy and retirement planning. The study aims to explore the most popular authors, publications, and keywords in the literature from an academic perspective. A comprehensive bibliomatrix approach and Biblioshiny, an R-based program was employed to gather and analyze data from scholarly articles published from 2007 to 2022. The findings provide valuable insights into the research landscape of financial literacy and retirement planning and shed light on potential avenues for future research in this field. The keywords "retirement" and "female" were the most frequently used, demonstrating the importance of retirement preparation for women. For researchers in the field of retirement planning, this study offers knowledge that will help them continue to explore these issues.

University Student Vulnerability to Phishing in Digital Banking across Social Platforms

2025-07-02T19:09:01+07:00

Human fallibility to phishing is not the byproduct of ignorance anymore, but the one kept alive by the very structure of digital existence. The aesthetic of deception finds a fertile ground in the repetitiveness of trust, the aesthetic of familiarity, and fluid choreography of the communication process that occurs via a platform. The current paper investigates the effect that can be observed in students of Indonesian universities who, due to their exposure to mobile banking and messaging culture, do not regard phishing as a perversion but as something that may appear to be reality. The research, which is based on in-depth interviews, baffles the conclusion that deception is not triumphing with tricky technical challenges rather with social engineering that hopscotches through interpersonal pathways, uses institutional jargon, and play with emotional instinct. Subjects were not blind to the danger. They are weak, instead, because of the same set of circumstances that conditions them to act quickly, to accept as true signals that are visually consistent, and to place the value of the urgent ahead of checking. This evidence means that the issue is not the absence of awareness but the weakness of awareness in the face of pressure. Therefore, there is a need to change the way the digital vulnerability is thought of. Security should not be a personal issue that creates a vacuum out of a context. Rather, it needs to be regarded as a social/infrastructural question, one that is informed by design, by platform logic, by the relational predilections by which we characterize our everyday digital practice.

The Influence of Good Corporate Governance, Corporate Social Responsibility, and Return on Assets on the Value of Islamic Banks

2025-06-23T13:51:20+07:00

This paper examines the process by which Islamic commercial banks in Indonesia create firm value via the interaction of governance mechanisms, moral signaling, as well as, financial performance. Based on more or less numerous forms of multiple linear regression analyses in 12 Sharia compliance banking institutions between 2019 and 2022, the study will investigate the corresponding influence of Islamic Good Corporate Governance (IGCG), Islamic Corporate Social Responsibility (ICSR), and Return on Assets (ROA) on investor-scape perceived value reflecting through Earnings per Share (EPS). The results indicate a strong divergence between the formal systems of governance and market-imposed judgments. IGCG, although institutionally mandated, does not play any significant role in creating firm value, which implies that the current practice of governance is not publicly credible. Comparatively, ICSR has proven to be the most influential predictor representing that the stakeholders give more importance on ethical transparency rather than procedural compliance. ROA is an influential albeit minor element, which supports the idea that profitability is essential but not sufficient by itself to keep valuation trust. Such outcomes must herald a transformation in the vision of value in an Islamic finance context; in other words, how compliance is measured and appropriately valued financially is no longer an internalized affair because such reality is more seen in terms of filming the veracity of a financial institution publicly.

Digital Investment Behavior of Muslim Investors in Cryptocurrency Platforms in Indonesia

2025-05-17T21:18:26+07:00

Behavior regarding cryptocurrency investment among Muslim users cannot be interpreted in a technology-oriented or psychologically-focused manner. It reveals the limitations of the existing behavioral frameworks that leave out the moral examination, social responsibility, and symbolic integrity that comes with an ethical decision during digitally mediated financial environment. The present research thus deposes an assumption that self-efficacy, anxiety, and habit are only neutral predictors. By means of structural equation modeling of the data that was collected among 246 Muslim investors, the present research results confirm that intention is not an original as well as arbitrarily assigned form, but one that is developed by being in line with moral obligation and social recognition. The concept doctrinaire of self-efficacy should be geared up only on the basis of being confident rather it should be regarded as authorized agency. Anxiety, instead of having impeding effects on behavior, acts as a filter of legitimacy where clarity is not settled theologically. Besides, the insignificance of habit is not a sign of the lack of behavior; it is a product of constant moral bargaining. These findings encourage a redefinition of the nature in which digital behavior of investing is theorized. Muslim investors do not find themselves in these platforms as passive beings but as moral agents who are unwilling to allow the automation of financial activities to occur without prior consent. Therefore, the behavioral science needs to correct its oversight of interpretive acumen and stratum of righteousness that orient action in the religious scenario of finance.

Islamic Financial Trust as a Moderating Force Between Development Pressures and Environmental Harm in the Age of Social Value Exchange

2025-07-06T16:00:50+07:00

This study investigates how the environmental consequences of economic growth and urbanization are shaped by the ethical configuration of financial systems rather than by growth patterns alone. Using data from Indonesia between 2018 and 2023, the research employs moderated regression analysis to examine the role of Islamic finance as a relational mechanism that influences how developmental pressures are absorbed or amplified within ecological systems. The findings indicate that both economic growth and urbanization contribute significantly to environmental degradation. However, when Islamic financial principles are present, the nature of these contributions shifts in important ways. Rather than functioning solely as a funding mechanism, Islamic finance appears to guide behavioral choices by embedding capital within a value system that prioritizes long-term responsibility, fairness in allocation, and sensitivity to collective outcomes. This moderating role reflects not only statistical interaction but a broader shift in how economic and spatial expansion are governed. Sustainability, in this framework, is not treated as an external target but as an internal property of how trust, legitimacy, and environmental ethics are encoded into financial decisions. The study offers a new lens through which the link between development and environmental harm can be understood as contingent upon the normative frameworks that regulate how value is created, exchanged, and sustained.

Reducing Waste in the Delivery System through Lean Distribution: Implications for Social Commerce Logistics

2025-05-24T13:25:35+07:00

This paper explores structural inefficiencies that have been engrained into the delivery procedures, a distributor of industrial gas products, in the context of wastage reduction and improvement on logistic responsiveness, by means of adopting lean distribution. An initial inspection identified extended lead time and operational delays based on delays based on waiting and transport inefficiencies as well as redundant motion, which signified a tangled and non-integrated workflow that was document dependant. Combining Process Activity Mapping (PAM), root cause analysis and 5W+1H technique, the work produced vital, non-value-added activities and recommended focused interventions to reinstate process flow and timing purity. The endeavours of the implementation of the lean-based redesign served to cut down the total time of lead by 14.6 per cent largely through removing the actual bottlenecks in the procedure and also making coordinated handovers on a digital platform. In addition to enhancing efficient stages, the research illustrates that lean distribution serves as a form of structural redesign, which shifts the delivery process out of the series of sequential activities to an integrated, real-time, and demand-oriented system. Such findings validate the view that to enhance the logistics performance in this kind of time-sensitive environment, a reduction of waste is not a sufficient condition but rather a planned transition to digitally-assisted, flow-based process configurations.

The Influence of e-WoM, Marketplace Advertising, and FoMO on Purchase Decision for Sendy Leather on Shopee, Mediated by Trust

2025-07-02T19:20:24+07:00

This study investigates the influence of electronic word of mouth (e-WoM), marketplace advertising, and fear of missing out (FoMO) on consumer purchase decisions for Sendy Leather products on Shopee, with trust as a mediating variable. The research employs a quantitative approach using Structural Equation Modeling based on Partial Least Squares (SEM-PLS) and is supported by 209 purposively selected respondents who have purchased Sendy Leather through Shopee. Findings reveal that e-WoM and FoMO positively and significantly affect trust, while marketplace ads do not. In turn, e-WoM, FoMO, and marketplace ads directly impact purchase decisions, with trust acting as a significant mediator between e-WoM and FoMO toward purchasing behavior. The study concludes that trust and psychological urgency shape digital consumer behavior, emphasizing the need for personalized and credible digital marketing strategies. This research offers managerial implications for local brands operating in competitive online marketplaces.

The Influence of Promotion on Repurchase Interest Mediated by Cash-On-Delivery Payments on Tiktok Shop

2025-07-02T19:30:27+07:00

In the shifting landscape of digital commerce, where attention is monetized and trust remains precarious, promotions alone no longer suffice to sustain consumer behavior. This study interrogates the relationship between promotional stimuli and repurchase interest within TikTok Shop, situating Cash-on-Delivery as a mediating variable that reconfigures how consumers interpret value, risk, and reliability. Drawing on quantitative data from urban Indonesian consumers and tested through a structural equation model, the findings reveal that promotional effectiveness is contingent not only on its visibility or appeal but on the presence of structural reassurance that transforms interest into intention and intention into behavior. Cash-on-Delivery, often relegated to logistical convenience, emerges here as a psychological architecture that stabilizes trust in a landscape shaped by speed and spectacle. Rather than acting as an isolated payment method, it becomes the mechanism through which promotional rhetoric is translated into credible action. In a digital environment where persuasion is abundant but safety is scarce, platforms that fail to integrate these dimensions do not merely lose transactions. They lose relevance. This study argues that the future of social commerce lies not in amplifying promotional volume but in curating transactional conditions where trust is embedded, not assumed. The implication is clear. Behavioral continuity in digital markets will belong not to the loudest voice but to the most structurally coherent experience.

The Influence of Green Human Resource Mangement Mechanisms on Sustainable Business Outcomes in Customer-Centric Digital Enterprises

2025-07-06T16:08:07+07:00

This study examines how Green Human Resource Management contributes to organizational sustainability performance by investigating the psychological mechanisms that shape this relationship. Using structural equation modeling on data collected from employees in environmentally engaged firms, the research explores the extent to which the influence of green HR practices is mediated by perceived organizational support and affective commitment. The findings suggest that GHRM does not operate in a vacuum. Its impact becomes significant when employees interpret these practices as authentic expressions of support and when they experience a sense of emotional connection to the organization’s mission. Perceived support functions as a cognitive filter through which green initiatives are assessed for credibility, while affective commitment emerges as a behavioral engine that channels belief into sustainable action. These results underscore that sustainability outcomes are shaped less by the presence of formal policies and more by the quality of interpretive and emotional engagement they evoke. The study offers not only empirical confirmation but also conceptual insight into the relational infrastructure needed for organizations to embed sustainability in practice, particularly within digitally driven and customer-centric environments.

Reputational Signaling through Sustainability Disclosure and Profitability in Stakeholder-Driven Markets

2025-07-06T15:47:17+07:00

This study examines the effect of corporate sustainability practices, as measured by GRI G4-based ESG disclosure scores, on stock prices in 38 mining companies listed on the Indonesia Stock Exchange during the period 2019–2023. In addition, corporate profitability (Return on Assets/ROA) is tested as a moderating variable to see whether the level of profit strengthens or weakens the relationship between ESG and stock prices. Panel data are analyzed using pooled OLS with robust standard errors after passing a series of classical assumption tests. The regression results show that neither ESG scores nor ESG×ROA interactions have a significant effect on stock returns, and the control variables also show no significance. The model only explains 3.50% of the variation in stock returns (R² = 0.0350), indicating that the dominance of other external factors such as commodity price volatility and macroeconomic policies have not been observed in this research model. This finding confirms that ESG sustainability signals have not been fully internalized by the capital market of mining companies in Indonesia, so that strengthening regulations, fiscal incentives, and independent audits are needed to improve the effectiveness of sustainability reporting.