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The growth of online shopping has encouraged brands to utilize live-streaming as a promotional tool to attract consumers, including Parfumoist in Lampung, which actively broadcasts product demonstrations to increase audience engagement. However, whether these broadcasts truly build trust and stimulate purchase intention remains uncertain, forming the central problem of this research. The research tried to analyze the influence of interactivity, visualization, entertainment, and professionalization during live-streaming on consumer trust and purchase intention. Using Stimulus-Organism-Response framework, live-streaming elements are positioned as stimuli, trust as the organism, and purchase intention as the response. A quantitative approach was employed, with purposive sampling of viewers who watched Parfumoist live streams and had made or intended to make a purchase. Data from an online questionnaire then analyzed with SEM-PLS. The findings reveal all four dimensions of live-streaming significantly affect purchase intention, mediated through consumer trust. The findings highlight that effective live-streaming depends not only on frequent broadcasts, but also on the ability of the host to interact meaningfully, present attractive visuals, entertain viewers, and display professionalism. This study concludes that improving the overall quality of live-stream sessions strengthens trust and intention to buy, offering theoretical implications for digital marketing research and practical recommendations for MSMEs to optimize live-streaming strategies in competitive markets.

The rapidly changing and increasingly uncertain business environment presents significant challenges for micro, small, and medium enterprises (MSMEs), requiring them to adapt quickly and strategically to survive and remain competitive. This conceptual article examines the role of business models as an effective adaptation strategy for MSMEs in responding to dynamic market conditions, technological change, and shifting consumer preferences. Through a comprehensive review of various business model frameworks and dynamic capability theories, this study emphasizes that business models play a crucial role in shaping organizational flexibility and strategic responsiveness. The findings highlight that adaptable value propositions enable MSMEs to continuously align their offerings with evolving customer needs, while agile resource management allows firms to efficiently reconfigure internal and external resources. Furthermore, continuous business model innovation and renewal are identified as essential mechanisms for sustaining long-term resilience and competitiveness. The article argues that a business model should not be viewed merely as an operational or administrative tool, but rather as a core strategic mechanism that integrates strategic vision, organizational capabilities, and market orientation. By actively leveraging flexible and innovative business models, MSMEs can enhance their adaptive capacity, mitigate environmental uncertainty, and achieve sustainable competitive advantage in rapidly changing business environments.

This study investigates Indonesia’s long-term economic transformation across four pivotal eras: the colonial period, the Old Order, the New Order, and the Reformasi era. Employing a descriptive qualitative design with historical analysis, the research elucidates how political transitions, institutional reforms, and global dynamics have interacted to shape the nation's economic architecture. Results indicate that colonial legacies entrenched deep structural inequalities and a dualistic economy, creating a path dependency that continued to influence policy direction after independence. During the Old Order, efforts to assert economic sovereignty were constrained by macroeconomic instability, limited state capacity, and shifting political coalitions. The New Order marked a turning point toward industrialization, macroeconomic stabilization, and openness to foreign investment, generating high growth but also deepening inequality and dependence on external capital. Entering the Reformasi era, decentralization, democratization of governance, and fiscal transparency reshaped institutional frameworks; however, persistent challenges such as regional disparities, productivity gaps, and vulnerability to global shocks remain evident. The study concludes that Indonesia’s economic evolution is non-linear, shaped by historical constraints and gradual institutional adaptation rather than abrupt shifts. Strengthening governance, enhancing domestic industrial competitiveness, and expanding inclusive development policies are essential strategies for supporting long-term resilience. These findings highlight the importance of continuity in policy reform to achieve sustainable growth and to realize the national vision of Indonesia Emas 2045.

Employee performance is a strategic factor in the success of regional banking organizations that are oriented towards service and achieving business targets. However, empirical evidence at PT Bank Sumut Kantor Cabang Koordinator Medan, indicates that employee performance tends to stagnate in the "Good" category during the 2021–2024 period. This condition is thought to be related to career development that is not yet optimally structured, organizational commitment that has not been fully actualized in work behavior, and inadequate extrinsic motivation. This study aims to analyze the effect of career development and organizational commitment on employee performance through extrinsic motivation as a mediating variable. The study used a quantitative approach with a survey method of employees at PT Bank Sumut Kantor Cabang Koordinator Medan. Data were analyzed using Structural Equation Modeling. The results show that career development and organizational commitment influence extrinsic motivation, and extrinsic motivation plays a role in improving employee performance and mediating the relationship between variables. These findings strengthen the role of extrinsic motivation as an important mechanism in bridging human resource policies and employee performance in regional banking.

The rapid advancement of digital technologies and Artificial Intelligence (AI) has fundamentally reshaped the management and development of the tourism industry. Digital transformation strategies offer substantial opportunities to enhance destination competitiveness while simultaneously supporting economic, social, and environmental sustainability. This study aims to systematically examine the role of digital transformation and AI in strengthening sustainable tourism competitiveness through a literature review approach. A total of 42 peer-reviewed journal articles published between 2019 and 2025 were analyzed, drawing from Scopus, Web of Science, and Google Scholar. The analysis employed thematic synthesis to identify dominant patterns, conceptual relationships, and emerging themes across the literature. The findings indicate that AI-driven digital transformation enhances operational efficiency, enables personalized tourist experiences, supports data-informed resource management, and facilitates the development of smart tourism destinations. Nevertheless, persistent challenges related to human resource readiness, digital inequality, data governance, and ethical considerations remain evident. This review provides an integrated conceptual perspective on digital transformation and AI in sustainable tourism competitiveness and offers insights for policymakers, practitioners, and future research.

This study aims to examine the relationship between Corporate Social Responsibility (CSR) disclosure and profitability with firm value. The research was conducted on companies in the oil, gas, and coal sub-sector listed on the Indonesia Stock Exchange (IDX) during the 2021–2024 period. The independent variables in this study are corporate social responsibility disclosure and profitability, while firm size is employed as a control variable. Firm value is proxied by Price to Book Value (PBV), whereas profitability is measured using Return on Equity (ROE). This study is grounded in Stakeholder Theory and Signaling Theory to explain the relationships among the variables. The sample was determined using purposive sampling, resulting in 29 companies. The data analysis techniques applied include Pearson correlation analysis and multiple linear regression to examine both the simple relationships and the effects of corporate social responsibility disclosure and profitability on firm value. The results indicate that corporate social responsibility disclosure has a negative relationship with firm value, while profitability shows a positive and significant relationship with firm value.

Global environmental challenges require active engagement from all sectors, including education. For Muslim youth, awareness of environmental sustainability aligns with Islamic ethical principles such as stewardship (khalifah), justice (ʿadl), and social welfare (maslahah). This study examines the influence of green economy education within Islamic higher education on students’ eco-literacy, ethical awareness, and sustainable economic behavior. A quantitative approach was employed using a structured questionnaire distributed to students from both Islamic economics and non-economics programs. Data were analyzed with descriptive statistics, independent t-tests, and one-way ANOVA to identify differences in environmental knowledge, attitudes, and behavior. Findings show that students with an Islamic economics background consistently achieve higher scores in knowledge, attitudes, and behavioral engagement related to sustainability compared to non-Islamic economics students. Integrating Islamic ethical values into the curriculum provides a holistic framework for internalizing sustainability principles, encouraging students to translate ethical knowledge into practical action. Pedagogical strategies such as project-based learning, reflective exercises, and experiential programs further enhance engagement and eco-conscious behavior. The study highlights the critical role of Islamic education in fostering a generation of ethically aware and environmentally responsible students. By embedding moral and ecological principles in academic programs, educational institutions can strengthen students’ capacity for sustainable decision-making and support broader goals of responsible economic and environmental stewardship.

This study analyzes the effect of Bitcoin prices, the LQ45 Index, mutual fund net asset value (NAV), and the net profit margin (NPM) of gold mining companies on the price of gold as a safe haven asset within the context of the Indonesian financial market. Gold is often seen as a safe haven asset that is the primary choice of investors when economic uncertainty increases, but the relationship between gold and various other investment instruments still requires further study. This study uses a multiple linear regression method with a robust standard errors approach to analyze 420 monthly and quarterly data observations during the 2018-2022 period. The results of the study found that the price of Bitcoin and the NPM of gold mining companies had a significant positive influence on the price of gold, while the LQ45 Index had a significant influence effect. Meanwhile, the NAV of mutual funds showed a significant positive influence that was not in line with the initial hypothesis. These findings indicate that gold does not always function absolutely as a safe haven asset, as its role is contextual and still influenced by the dynamics of other investment instruments such as digital assets, stock markets, and mutual funds. The study's results make an important contribution to financial literature by proving that the safe haven characteristics of gold are complex and dynamic, so investors need to consider various factors and market conditions before allocating investments to gold as a hedging strategy in their portfolios.

This study examines the factors influencing Indonesia’s motor vehicle exports to nine developing countries using the gravity model approach with long-term and short-term panel data. The variables analyzed include the Gross Domestic Product (GDP) of partner countries, exchange rates, economic distance, and trade cooperation agreements. The data are analyzed using the Error Correction Model (ECM) to capture short-term dynamics and long-term relationships. The long-term results show that partner countries’ GDP has a significant positive effect on Indonesia’s vehicle exports, indicating that economic growth in partner countries increases demand for Indonesian automotive products. Conversely, exchange rates and economic distance have significant negative effects, suggesting that depreciation of partner currencies and economic disparities reduce export volumes. Trade cooperation agreements do not have a significant impact in the long term. In the short term, changes in GDP continue to have a significant positive effect, while exchange rates maintain a significant negative impact on exports. Economic distance and trade agreements are not significant in the short term. The significant and negative error correction term (ECT) confirms the existence of an adjustment mechanism toward long-term equilibrium. This study highlights the importance of partner countries’ economic growth and exchange rate stability in supporting Indonesia’s vehicle exports to developing countries, as well as the need to address structural barriers to improve long-term competitiveness.

The digital era demands that organizations be fast-moving, adaptable, and innovative. With the advancement of information technology, changes in work methods, global competition, and stakeholder demands are becoming increasingly complex. Knowledge Management (KM) plays an important role as a strategic mechanism for identifying, acquiring, storing, sharing, and utilizing knowledge to improve organizational effectiveness and efficiency. In this context, knowledge management becomes one of the important elements for organizations to enhance performance. Knowledge management is not just about collecting data or information, but how organizations can store, share, create, and utilize knowledge to gain a competitive advantage. This article aims to analyze the importance of knowledge management for organizational performance in the digital age, including how the digital era changes the dimensions of knowledge management, how knowledge management contributes to organizational performance, the challenges faced, and their implications. The data obtained for this study were gathered from observations thru interviews with relevant parties and a literature review study by examining the results of empirical research from the past five years (2020–2025). The method used was descriptive literature analysis of 15 scientific articles from accredited national journals. The analysis focuses on the relationship between knowledge management dimensions (knowledge creation, storage, sharing, and application) and organizational performance indicators (financial performance, innovation, productivity, and customer satisfaction). The study results show that the implementation of knowledge management significantly contributes to improving organizational performance, both directly thru increased efficiency and effectiveness of work processes, and indirectly thru strengthening a culture of innovation and organizational learning. This article asserts that an organization's success in the digital age is not solely determined by its ability to adopt technology, but also by its ability to manage and leverage knowledge as a strategic resource. Therefore, knowledge management needs to be systematically integrated into the organization's digital strategy, accompanied by strengthening a learning culture, human resource training, and adaptive information technology systems.

This study aims to describe relevant digital marketing strategies to improve the competitiveness of the Rafika Dompo Banana MSME in Soguo Village, Bolaang Uki District, South Bolaang Mongondow Regency, and analyze the supporting and inhibiting factors in implementing these strategies. This study uses a qualitative approach with a case study method. Data collection was conducted through observation, in-depth interviews with the owner, employees, and consumers, and documentation. The data analysis technique used a narrative inquiry model. The results of the study indicate that the digital marketing implementation of the Rafika Dompo Pisang MSME is still at a basic stage, utilizing WhatsApp and Facebook organically with simple content managed directly by the owner. Limited digital knowledge, minimal paid promotion budget, and suboptimal utilization of marketplace platforms are the main obstacles. Nevertheless, promotion through social media has been proven to increase product visibility and reach consumers. Supporting factors include maintained product quality, government support for licensing, and consignment collaboration. Consumer perception of the product is very positive, and existing digital promotions are considered to assist in purchasing decisions. In conclusion, the implemented digital marketing strategy is still simple but has a positive impact. Increasing competitiveness requires strategy optimization through increased digital literacy, platform diversification, and more planned resource allocation.

Digital transformation in the Industry 4.0 era has accelerated changes in consumer behavior and intensified competition in online markets. Under heterogeneous and increasingly saturated conditions, mass-marketing approaches become less effective, making niche market strategies more relevant as a path to differentiation. This article aims to formulate a systematic framework for independently building a niche market in the digital era through a synthesis of academic literature and a practical social-media case. The study uses a conceptual literature review integrating niche marketing theory, niche success characteristics, and social media marketing dynamics. The review indicates that effective niche market development follows sequential stages: (1) identifying specific market needs/problems, (2) designing a relevant product/service solution, (3) sharpening the target into a clearly defined niche, (4) formulating a unique selling point (USP) and value proposition, (5) conducting small-scale validation through a portfolio/MVP, (6) executing social media marketing, (7) maintaining consistent content and digital branding, and (8) performing continuous adaptive evaluation. The @foodish_mks case reinforces that content consistency and social-media utilization act as key mechanisms linking digital marketing intensity to niche success. This article contributes a cross-sector niche-building roadmap aligned with algorithmic, community-based digital platforms, and proposes a testable hypothesis model (H1–H6) for future empirical validation.

This study explores the intellectual and thematic evolution of green sukuk research within Islamic sustainable finance from 2015 to 2025. Using a hybrid methodological design that integrates the PRISMA-guided Systematic Literature Review with Watase Uake network analysis, the study identifies 17 core Scopus-indexed articles that collectively define the field’s conceptual and empirical development. Results reveal a three-phase evolution: (1) a formative stage emphasizing ethical legitimacy and Sharia compliance; (2) a transitional phase integrating pricing efficiency, market risk, and policy frameworks; and (3) a maturity phase characterized by econometric modeling, behavioral-finance integration, and sustainability governance. Thematic clusters extracted from bibliometric mapping include financial performance and market dynamics, institutional legitimacy and policy frameworks, behavioral intention and investor psychology, and technological innovation and ESG disclosure. Despite methodological advancement, the literature remains geographically concentrated in Malaysia and Indonesia and exhibits theoretical fragmentation across behavioral, financial, and institutional models. Findings highlight key research gaps involving contradictory evidence on yield–risk relationships, inconsistent behavioral determinants of investment intention, and insufficient integration of moderating or mediating mechanisms. The study advances theoretical pluralism by connecting the Theory of Planned Behavior (TPB), Institutional and Legitimacy Theory, and Resource-Based View (RBV) into an integrated model explaining how legitimacy, behavior, and strategic capability jointly drive green sukuk adoption. Policy implications emphasize the need for harmonized regulation, behavioral incentives, and digital transparency to strengthen credibility and accelerate sustainable-finance transformation in line with SDGs 7 and 13.

This study aims to interpret the budgeting process in the policy-making of Social and Environmental Responsibility (TJSL) at PT Kaltim Industrial Estate (KIE). Using a qualitative-interpretive approach through a single instrumental case study, data were collected from interviews with key informants, observations, and document analysis. The findings reveal that TJSL budgeting at KIE is not merely a technical process but rather a complex arena of meaning negotiation. This process reflects the company’s efforts to respond to institutional pressures while simultaneously building social legitimacy. Five main themes were identified: (1) the interpretation of TJSL as a commitment to sustainability and Creating Shared Value (CSV); (2) the integration of TJSL into corporate strategy; (3) a bottom-up and participatory budgeting process; (4) priority setting influenced by institutional pressures and financial capacity; and (5) program evaluation involving external parties. The study concludes that the interpretation of TJSL has shifted from a symbolic obligation to a strategic investment, substantively integrated into corporate governance to ensure business sustainability.

 The worsening economic conditions in this new normal era have made the family economy even worse. The prolonged lockdown conditions have limited employment opportunities, while income has decreased. To balance the amount of expenditure and family income, additional family income is needed, in conditions like this, the role of a woman in a family is needed. This study will try to examine and formulate a model of women's empowerment with a creative economy community approach in improving family welfare. Rural women's empowerment activities that will be carried out are providing entrepreneurial motivation, forming business groups, training and business management. Data were collected using observation, interview and questionnaire methods. This research was conducted on village communities, especially housewives in Beringin Village, Beringin District, Deli Serdang Regency. The research used experimental and survey methods. Data analysis techniques used qualitative and quantitative descriptive methods. The outputs of the research are (1) a draft model of women's empowerment with a creative economy community approach in improving family welfare and (2) publication in a national journal with a Technology Readiness Level (TKT) level three. The results of this first year of research are a draft model of women's empowerment. This empowerment model is able to attract the attention of women to actively participate in improving family welfare.

This study examines and analyzes the strategies of mosques as a medium for empowering the community's economy in the city of Watampone. The main focus of the research is to identify the types of strategies implemented by mosques, the challenges faced in carrying out economic programs, and to formulate effective strategies for improving community welfare based on mosque-centered initiatives.The research method used is qualitative descriptive, with data collected through interviews, observations, and documentation of four main mosques in Watampone City: Masjid Agung al-Malkaz al-Ma’arif, Masjid Nurul Hamirah, Masjid Tua Al-Mujahidin, and Masjid Songko’ Recca. The findings reveal that mosques in Watampone have implemented two strategic approaches to economic empowerment: offline (physical) and online (digital). (1) Offline strategies are carried out through the utilization of physical assets such as hall rentals, the establishment of business units, and the organization of social and educational activities.(2) Online strategies are still limited to the use of QRIS for donations and da'wah media, and have not yet extended to digital economic empowerment such as sharia-based marketplaces or online training platforms. In practice, mosques utilize several Islamic economic contracts, including ijarah, muḍarabah, and wakalah. The implementation of these empowerment programs faces several internal and external challenges. This study formulates six effective strategies to address these challenges. These findings are expected to serve as strategic recommendations for mosque administrators, government institutions, and the broader community in enhancing the role of mosques as centers of community economic empowerment.

This study explores the significant role of digital infrastructure investments in driving both economic growth and social inclusion in emerging economies. With the rapid advancements in digital technologies such as broadband, mobile subscriptions, and ICT infrastructure, these investments are reshaping economies by fostering innovation, improving business efficiency, and reducing poverty. The research employs a quantitative cross-country panel data approach, examining the impact of digital infrastructure across various regions over a ten-year period. The findings reveal a strong positive correlation between digital infrastructure investments and GDP growth, highlighting the substantial effect these investments have on national economic performance. Additionally, the study demonstrates that digital infrastructure plays a pivotal role in enhancing social inclusion, particularly through improved access to financial services, education, and healthcare, which in turn reduces income inequalities and promotes social mobility. The paper also compares the impact of digital infrastructure with that of traditional investments in physical infrastructure, such as transportation, revealing that digital infrastructure offers higher returns in terms of both economic outcomes and social benefits. This research emphasizes the importance of policy interventions, including targeted subsidies and inclusive digital policies, to foster equitable growth. Finally, it proposes several directions for future research, including sector-specific impacts of digital infrastructure, regional disparities, and the long-term effects on social well-being.

This study aims to identify the effect of leverage, solvency, company status, and company age on voluntary disclosure in the annual reports of IDXV30 issuers listed on the Indonesia Stock Exchange (IDX) for the period 2021-2023. The independent variables used are leverage, solvency, company status, and company age. The dependent variable in this study is voluntary disclosure. This study uses a quantitative approach. This study focuses on the population of IDXV30 issuers listed on the Indonesia Stock Exchange in the period 2021-2023. This study uses a purposive sampling method with a total sample of 16 companies. Data analysis in this study was conducted using multiple linear regression techniques, which were operated with the IBM SPSS version 26 program. The results of this study indicate that partially, leverage and solvency have an effect on voluntary disclosure. Partially, company status and company age do not have an effect on voluntary disclosure. Simultaneously, leverage, solvency, company status, and company age influence voluntary disclosure.

This article employs a Critical Literature Review (CLR) approach, analyzing studies from 2013–2025 that include academic papers, nationally accredited journals (Sinta 2–4), and reputable international journals indexed by Scopus (Q1–Q4) to understand systemic fraud and audit failure in Indonesia.Previous re-search has mostly explained fraud from individual or organizational views, while few have addressed structural factors such as the normalization of fraud, weak regulatory oversight, and the crisis of auditor legitimacy. The synthesis reveals four main issues. First, systemic fraud in Indonesia has shifted from in-dividual misconduct to a structured socio-economic phenomenon rooted in culture. Second, auditing as a control mechanism remains technically focused, often failing to uncover collusive fraud involving top management. Third, an expectation gap exists between unqualified audit opinions and public demands for assurance against corruption, reducing trust in auditors. Fourth, conflicts of interest arising from audit fee dependence, weak regulation, and limited adoption of audit technology and forensic analytics indicate the need for institutional reform. Therefore, this article calls for an integrative framework that connects individual, organizational, regulatory, and socio-cultural dimensions to address systemic fraud and rein-force public accountability in Indonesia.

This research explores the symbolic consumption patterns of Generation Z in engaging with local products during the digital hyperreality era, emphasizing the roles of ethical consumption, hyperreality values, and digital identity in shaping purchase intentions. Using a quantitative design through PLS-SEM complemented by qualitative evidence, the study shows that both ethical consumption and hyperreality significantly shape digital identity (β = 0.42; β = 0.53, p < 0.001). Digital identity strongly drives purchase intention (β = 0.65, p < 0.001), while ethical consumption does not directly affect it. Mediation analysis demonstrates that digital identity fully mediates the relationship between ethical consumption and purchase intention, and partially mediates the impact of hyperreality. Qualitative findings highlight that Gen Z’s buying decisions are influenced by symbols and imagery showcased on social media, where ethical aspects only become relevant when they align with digital aesthetics. These results strengthen the postmodernist perspective that consumption in the digital era is primarily about signs, images, and symbols that go beyond mere utility. The study suggests that MSMEs should strategically embed symbolic narratives, ethical dimensions, and visual aesthetics into digital marketing to appeal to Gen Z while promoting sustainability.