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.