Jurnal Ilmiah Ekonomi Bisnis diterbitkan secara berkala tiga kali dalam setahun, yaitu pada bulan April, Agustus, dan Desember. Jurnal ini memuat artikel ilmiah hasil penelitian di bidang ekonomi dan bisnis yang meliputi manajemen, akuntansi, perbankan, asuransi, pemasaran, dan koperasi, yang ditulis dalam bahasa Inggris. Jurnal ini diterbitkan oleh Bagian Publikasi Universitas Gunadarma. Jurnal Ilmiah Ekonomi Bisnis telah terakreditasi Peringkat 3 (SINTA 3) oleh RISTEKDIKTI.
E-WALLET PERCEIVED EASE OF USE, SELF-CONTROL, AND FINANCIAL MANAGEMENT AMONG GENERATION Z ENTREPRENEURS WITH DIGITAL FINANCIAL LITERACY AS A MODERATING VARIABLE IN MALANG CITY
The rapid growth of financial technology has increased the adoption of digital wallets (e-wallets), particularly among Generation Z entrepreneurs. This study aims to examine the influence of perceived ease of use of e-wallets and self-control on financial management, as well as the moderating role of digital financial literacy among Generation Z entrepreneurs in Malang City. Using a quantitative approach with a survey design, data were collected from 239 respondents through questionnaires. The findings reveal that the perceived ease of use of e-wallets and self-control positively and significantly affect financial management. Digital financial literacy moderates the relationship between e-wallet ease of use and financial management, but does not moderate the relationship between self-control and financial management. These results highlight the importance of balancing financial technology utilization, self-control, and financial literacy to support effective financial management among Generation Z entrepreneurs
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MAPPING GREEN PERFORMANCE INDICATORS IN SMALL AND MEDIUM ENTERPRISES (SMES): A LITERATURE-BASED EXPLORATION OF GREEN SUPPLY CHAIN PRACTICES
This study aims to systematically examine the practices of Green Supply Chain Management (GSCM) within the context of small and medium enterprises (SMEs), with a focus on green performance indicators used across various academic studies. The review employs a qualitative approach through a literature review of articles indexed in Scopus. A total of 131 articles were retrieved and through a step-by-step screening process based on relevance to the research questions, 24 articles were selected for in-depth analysis. The findings reveal that the most commonly used green performance indicators include Green HRM, Green Innovation, Environment Performance, Government Intervention Policy, Operational Efficiency, dan Technological Adoptions. However, most studies have not employed standardized measurement frameworks, particularly in the context of SMEs in developing countries. This review identifies a gap in the literature regarding green performance measurement, which can serve as a foundation for developing more contextual and applicable evaluation models for the SME sector. The findings are expected to contribute to the development of more effective and sustainable GSCM implementation strategies and policies.
THE INFLUENCE OF LIVE STREAMING AND PRICE DISCOUNT ON IMPULSE BUYING AMONG TIKTOK SHOP USERS THROUGH POSITIVE EMOTION AS AN INTERVENING VARIABLE
In the era of globalization, technology and the internet are developing very rapidly. So the internet plays an important role as a means of entertainment, information sources, social media, and business. As the use of social media and digital interactions increases, a new form of online commerce known as social commerce has emerged. This research aim to determine and analyze the effect of live streaming and price discounts on impulse buying in TikTok Shop users through positive emotions as an intervening variable. This research uses primary data obtained through distributing the questionnaires to 150 respondents. The respondents are TikTok Shop users who are over 17 years old and reside in the Greater Jakarta area. This research uses PLS-SEM analysis, which consist of a measurement model (outer model), a structural model (inner model), and a model goodness-of-fit test (model fit). The results of this research show that live streaming and price discounts positive influence impulse buying in TikTok Shop users both directly and indirectly through positive emotions and the variable that has the most dominant influence on impulse buying through positive emotions is price discount.
THE INFLUENCE OF FUNCTIONAL VALUES, SOCIAL VALUES, AND HEDONIC MOTIVATION ON REPURCHASE INTENTION OF VIRTUAL GOODS IN ROBLOX USERS AMONG GENERATION Z SURABAYA
The purpose of this study is to investigate whether or not Generation Z Surabaya Roblox users' interest in purchasing virtual items is influenced by hedonic motives, social values, and functional values. Quantitative methods based on an associative research design are used in this study. The 156 subjects included in this research were selected using a non-probability selection method. Data was collected by a questionnaire, and it was analyzed using multiple linear regression. Hedonic motivation, social values, and functional values all have a favorable and substantial influence on repurchase intention simultaneously, according to the study. Functional value has a favorable and substantial effect on repurchase intention. The influence of societal values on repurchase intention is favorable and substantial. In a favorable and statistically significant way, hedonic motivation influences the desire to repurchase intention.
ANALYSIS OF DETERMINANTS OF THE ENVIRONMENTAL QUALITY INDEX IN SIX PROVINCES OF JAVA ISLAND
Environmental quality is an important indicator that reflects the sustainability of ecosystems and the welfare of communities in a region. The Environmental Quality Index (EQI) provides a quantitative measure of environmental quality in an area over a given period, derived from the Water Quality Index (WQI), Air Quality Index (AQI), Land Quality Index (LQI), and Marine Water Quality Index (MWQI). To date, Java Island has consistently had the lowest LQI among Indonesian islands. This study was conducted to determine the effect of access to proper drinking water, access to adequate sanitation, population density, land transportation, and the number of large and medium industries on the Environmental Quality Index (EQI) in 6 provinces on the island of Java from 2016 to 2024 using panel data regression analysis with the Fixed Effect Model (FEM) approach and Granger causality testing with 54 observations. The study found that access to safe drinking water, access to proper sanitation, population density, and the number of industries significantly affected the EQI. Land transportation did not have a significant effect on the EQI. Based on the Granger causality test, there was a reciprocal relationship between several independent variables and the EQI.
EQI, safe drinking water, proper sanitation, population density, and number of industries.
ATTITUDE TOWARD KOREAN CELEBRITIES VS INDONESIA CELEBRITIES: WHICH ONE HAS A STRONGER EFFECT ON PURCHASE INTENTION?
This study aimed to assess the impact of attitudes toward Korean and Indonesian celebrities, perceived behavioral control, and subjective norms on consumers’ purchase intentions. This research employs a closed-ended online questionnaire to investigate the factors influencing purchase intentions for products endorsed by both Korean and Indonesian celebrities. A total of 323 respondents who had purchased products endorsed by both Korean and Indonesian celebrities within the last three months filled in the questionnaire. To ensure data relevance, a purposive sampling technique was employed, enabling authors to select participants with relevant experiences who could provide meaningful insights into the research objectives. After a thorough review, 46 responses were excluded because they did not meet the established eligibility criteria, resulting in 287 valid responses for further analysis. These data were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) with SmartPLS 4.1 software. Findings obtained in this study confirmed that all variables significantly and positively affect purchase intentions, with attitudes toward Korean celebrities exhibiting a more substantial influence than those toward Indonesian counterparts, thereby underscoring the decisive role of Korean celebrity endorsements in shaping consumer behavior.
FACTORS THAT INFLUENCE GENERATION Z'S FINANCIAL BEHAVIOR
Financial behavior for some individuals is currently a problem, especially for some groups in generation Z. This is because amidst increasingly rapid technological developments, of course there will be a change in behavior related to their financial behavior. The aim of this research is to analyze the influence of financial literacy, self control, financial attitudes and income on the financial behavior of generation Z in Indramayu City. The analytical method in this research uses quantitative primary data. The test stages carried out include the research instrument test (validity and reliability test), classical assumption test, multiple regression analysis, F test, T test, and coefficient of determination test (R2). Data collection was carried out by distributing online questionnaires via Google Forms and there were 140 respondents. The sampling technique used was simple random sampling. Testing tools using SPSS software. The results of this research show that the variables financial literacy, self control, financial attitudes, and income simultaneously influence the financial behavior of generation Z in Indramayu City. The variables financial literacy, self control, financial attitude, and income partially influence the financial behavior of generation Z in Inramayu City, and the variable that most dominantly influences the financial behavior of generation Z in Indramayu City is the financial attitude variable.
Copyright (c) 2026 https://creativecommons.org/licenses/by/4.0
OPTIMIZING DIGITAL MARKETING FOR MSMEs THROUGH CREATIVE DESIGN AND VISUAL BRANDING OF PALIMA FOODS
The digital transformation of the marketing landscape presents significant opportunities and challenges for Micro, Small, and Medium Enterprises (MSMEs) seeking to expand reach and enhance competitiveness. This literature-based research analyzes the integration of creative design and visual branding as an innovative digital marketing strategy, assessing its impact on increasing brand awareness and strengthening MSME market identity. Creative design shapes initial perceptions, while visual branding builds a consistent narrative and differentiates businesses. Leveraging digital platforms, the synergy between design creativity and visual coherence expands exposure, stimulates interaction, and builds emotional connections. Literature analysis indicates MSMEs strategically integrating these elements are better positioned for visibility, customer loyalty, and a strengthened competitive position. This study contributes to existing scholarship by offering a comprehensive analysis of the synergistic integration of creative design and visual branding as a strategic innovation for MSMEs, a dimension often underexplored in favor of individual components or broader digital strategies. The research emphasizes design-based innovation as vital for MSME sustainability. The implications are twofold: theoretically, it enriches literature by highlighting the critical role of visual integration; practically, it provides a vital guide for MSMEs to reframe visual branding as a strategic investment, ultimately enhancing competitiveness and fostering sustainable consumer loyalty.
CHATIME’S DIGITAL MARKETING, PROMOTION, AND EWOM IMPACT ON THE ROLE OF PURCHASING INTEREST AS A MEDIATOR IN IMPROVING PURCHASE DECISION
Encouraging consumer purchasing interest is an important phase in the marketing process because product competition is tightening and providing easy access to information and excellent services, particularly in the ready-to-drink beverage market. The goal of this study is to investigate and evaluate the role of purchasing interest in mediating the impact of digital marketing, promotion, and electronic word-of-mouth on Chatime purchasing decisions in Pondok Cina, Depok. Primary data from 210 respondent questionnaires was analyzed quantitatively. SmartPLS performs multivariate analysis using the Structural Equation Model approach. In addition to demonstrating the mediating role of purchasing interest and the importance of marketing using digital channels, promotion, and electronic word of mouth in driving purchasing decisions; the study's findings explain strategies for driving purchasing decisions in increasingly competitive beverage shops.
INNOVATIVE WORK BEHAVIOUR OF GENERATION Z EMPLOYEES IN CIKARANG
In today's employment, Generation Z has taken centre stage in almost every industry. Examining the effects of information sharing, employee engagement, and transformational leadership on the creative work practices of Generation Z employees in Cikarang was the goal of this study. A sample of 320 respondents was obtained by distributing questionnaires to Generation Z employees in the area using an associative design and quantitative approaches. The results showed that knowledge sharing, employee engagement, and transformational leadership all had a favourable impact on the creative work practices of Cikarang's Generation Z workforce.
PUBLIC SAVINGS AT PT. BANK NTT (PERSERO) MAIN BRANCH KUPANG AND THE FACTORS AFFECTING THEM
The formulation of the problem in this study is (1) Whether the interest rate, inflation rate, and Regional Minimum Wage have a partial effect on the community's savings at PT. Bank NTT (Persero) Kupang Main Branch Unit?; (2) How do interest rates, inflation and regional minimum wages affect the level of public savings at PT. Bank NTT (Persero) Kupang Main Branch Unit? The purpose of this study is to analyze the influence of interest rates, inflation rates, and regional minimum wages on the amount of savings, both partially and simultaneously. The analysis technique used is quantitative analysis using a multiple linear regression model. In this study, the smallest square regression approach (Ordinary Least Square) was also used. The results of this analysis show that simultaneously: interest rates, inflation rates, and regional minimum wages have a significant effect on savings. Meanwhile, partially, interest rates have a significant positive effect on savings, while inflation and the regional minimum wage have a negative but significant effect. The value of the determination coefficient was 0.115 which indicates that 15.5% of the variation in savings can be explained by all three variables, while the remaining 84.5% is influenced by other factors outside the model. The researcher suggested that Bank NTT needs to strengthen the innovation of savings products and digital financial services in order to be able to increase public fund collection.
WORK STRESS AS A MEDIATOR OF WORKLOAD, WORK ENVIRONMENT, AND TURNOVER INTENTION IN GENERATION Z EMPLOYEES
Turnover intention is the tendency of employees to leave their jobs voluntarily. This study aims to analyze the role of work stress in mediating workload and work environment on turnover intention in Generation Z employees in Jakarta. The sample in this study is Generation Z workers who have worked for at least 6 months in various business sectors in Jakarta, especially technology, creative, and banking. The results show that workload and work environment have a significant effect on work stress; Workload has a significant positive effect on turnover intention, while the work environment has a significant negative effect. Work stress has been proven to play a role as an intervening variable. The results of the study provide novelty about the phenomenon of generation, characteristics of Generation Z who are more sensitive to stress, workload and work environment. The main contribution of this research is to enrich research related to employees from Gen Z, provide a theoretical basis for who Gen Z is in the workplace and identify factors that influence Gen Z's job retention and loyalty, which are different from previous generations.
THE INFLUENCE OF BRAND AWARENESS, BRAND IMAGE AND E-SERVICE QUALITY ON PURCHASING DECISIONS IN LAZADA E-COMMERCE THROUGH PURCHASE INTENTION AS AN INTERVENING VARIABLE
The increasingly rapid advances in technology and the internet have influenced various human activities and activities, including electronic commerce or e-commerce transactions. This research aims to determine and analyze the direct and indirect influence of brand awareness, brand image, and e-service quality on decisions through purchasing intention in Lazada e-commerce. This research uses primary data obtained from an online questionnaire in the form of a Google form, which was distributed to 150 respondents. Respondents are Lazada e-commerce users who are over 17 years old and live in the Jabodetabek area. This research uses PLS-SEM analysis, which consists of a measurement model (outer model), a structural model (inner model), and a model goodness-of-fit test (model fit). The results of this research show that brand awareness, brand image, and e-service quality have a direct and indirect influence on purchasing decisions through purchase intention in Lazada e-commerce.
DO RELIGIOSITY AND ANIMOSITY MATTER? THE ROLE OF BRAND LOYALTY IN SHAPING REPURCHASE INTENTION DURING F&B BOYCOTTS
This study develops and tests a repurchase intention model under boycott conditions for multinational Food and Beverage (F&B) franchise brands in Indonesia by examining the differential roles of religiosity and consumer animosity, with brand loyalty as a mediating mechanism. Addressing boycott literature that mainly emphasizes boycott or protest intention, this study shifts attention to repurchase behaviour under boycott pressure and empirically distinguishes value-based religiosity from politically driven animosity within a Theory of Planned Behavior framework. Data were collected through a cross-sectional online survey of 425 Indonesian consumers who had previously purchased boycotted F&B brands and were analysed using PLS-SEM. The results show that brand loyalty strongly predicts repurchase intention while consumer animosity negatively affects brand loyalty and repurchase intention, with a significant indirect effect through brand loyalty, indicating partial mediation. In contrast, religiosity has no significant effect on either brand loyalty or repurchase intention. The model explains substantial variance in repurchase intention but limited variance in brand loyalty. Managerially, multinational F&B brands should reinforce loyalty through transparent communication, localized engagement, and targeted relationship programs while actively managing animosity triggering narratives during boycott episodes in the Indonesian market.
ECONOMIC TRANSFORMATION AND ENERGY CONSUMPTION TO REDUCE CARBON EMISSIONS TOWARDS INDONESIA'S SDGS
Indonesia’s carbon dioxide emissions continue to rise despite its emission reduction commitments, highlighting a gap between policy and implementation. The country’s reliance on fossil fuels, limited penetration of renewable energy, and the varied effects of foreign direct investment and industrialization highlight the importance of empirical analysis of the key drivers of emissions. This study strengthens the ARDL-based empirical evidence on the nexus among FDI, industrialization, energy consumption, and carbon emissions in Indonesia by incorporating the Environmental Kuznets Curve (EKC), the Pollution Haven Hypothesis, the Energy–Emissions Nexus Theory, and the Sustainable Development Theory. Using annual data from 1984 to 2023, the analysis evaluates the impacts of foreign direct investment, manufacturing value added, oil consumption, coal consumption, and low-carbon energy use on carbon dioxide emissions in both the short and long run. The results indicate that foreign direct investment initially increases emissions but has an insignificant adverse effect in the long run. Industrialization, oil, and coal consumption significantly raise emissions in both periods, while low-carbon energy consumption reduces emissions only in the long run. These findings suggest that Indonesia’s clean energy transition requires more substantial policy commitment, greater green investment, and improved industrial efficiency to achieve sustainable decarbonization.
URBAN AGRICULTURE AND INCOME CONTRIBUTION: EVIDENCE ACROSS HOUSEHOLD INCOME GROUPS IN YOGYAKARTA
This study investigates how urban farming contributes to household income and the factors shaping income disparities among urban farmers in Yogyakarta, Indonesia. Despite Yogyakarta’s status as a cultural and educational hub, urban poverty and unemployment persist, prompting the exploration of urban farming as an alternative livelihood strategy to enhance household resilience. Using data from 217 urban farming households, the research employs descriptive statistics and income contribution analysis to measure urban farming’s relative role within household earnings, complemented by multiple linear regression to assess the influence of income group and other income sources. The findings reveal substantial variation, with net income ranging from IDR 1.7 million to IDR 123 million after deducting input costs. Urban farming’s contribution to total income was lowest among low–middle income households (1.38%) and highest among middle–high income households (50.06%), with an overall average of 30.98%, indicating a moderate aggregate role. Regression analysis confirms that higher-income households gain more from urban farming, whereas other income sources reduce its relative importance. These results suggest that while urban farming serves as a key income generator for wealthier households, it remains supplementary for poorer ones, underscoring its broader value in strengthening urban food security and supporting targeted policy initiatives to improve productivity and cost efficiency across socioeconomic groups
STRATEGIC MODEL FOR IMPROVING THE PERFORMANCE AND GROWTH OF LOCAL FOOD SME’s IN EAST NUSA TENGGARA
Small and medium-sized enterprises (SME’s) in the local food sector in East Nusa Tenggara play an important role in driving regional economic growth while preserving local wisdom. This study aims to analyze the influence of market sensing, innovativeness, knowledge, motivation, partnership quality, and IT capability on the growth of local food SME’s. The research method employed is a quantitative approach through a survey of 165 SME’s operators, with data analysis using Structural Equation Modeling-Partial Least Squares (SEM-PLS). The analysis results indicate that market sensing, knowledge, motivation, and partnership quality have a significant impact on SME’s growth. Conversely, innovativeness and IT capability do not have a significant impact. These findings emphasize that the ability to understand market needs, manage business knowledge, maintain entrepreneurial motivation, and establish quality partnerships are the primary determinants of the growth of local food SME’s. Meanwhile, limited resources, low digital literacy, and local consumer preferences for traditional products are factors that explain the weak contribution of innovation and information technology. This study contributes to the development of literature by reaffirming the relevance of the Resource-Based View and Dynamic Capabilities View theories in the context of SME’s in island regions. Practically, business actors need to strengthen market sensing, enhance knowledge capacity, and build strategic partnership networks. Further studies are recommended to examine the role of mediating factors, policy support, and the dynamics of SME’s growth in the long term.
THE EFFECT OF FINANCIAL MANAGEMENT BEHAVIOR, SELF-EFFICACY AND HERDING BEHAVIOR ON INVESTMENT DECISIONS MEDIATED BY E-TRUST
The phenomenon shows that Generation Z tends to choose fast and efficient digital services, including investment applications, as their trust in technology fosters a sense of comfort and security in transactions. This study aims to evaluate the effects of financial management behavior, self-efficacy, and herding behavior on investment decisions, with e-trust as a mediating variable. A quantitative approach was applied using structural equation modeling (SEM-PLS) with a sample of 114 active students from Politeknik Negeri Semarang who had invested in stocks. The research instrument employed a 4-point Likert scale to measure the five variables. The results indicate that e-trust has a significant effect on investment decisions, and herding behavior significantly influences e-trust. Conversely, financial management behavior and self-efficacy show no significant direct or indirect effects on either e-trust or investment decisions. The mediation analysis confirms that e-trust only mediates the relationship between herding behavior and investment decisions, but not the other variables. The R² values for e-trust (91.6%) and investment decisions (93.7%) suggest relatively high predictive power, though potential overfitting should be considered. The findings highlight the importance of building digital trust and acknowledging social influence in financial education strategies and the development of investment platforms, particularly for gen Z.
SUSTAINABLE FAR: RETHINKING TRANSFER PRICING RISK IN CIRCULAR ECONOMY GOVERNANCE
Transfer Pricing (TP) remains a central and contentious issue in international taxation due to its close association with profit shifting and the ongoing challenges of Base Erosion and Profit Shifting (BEPS). The traditional Function–Assets–Risk (FAR) framework, which supports the arm’s length principle, captures mainly financial and operational risks but overlooks sustainability-driven exposures that increasingly shape business models. This paper introduces Sustainable FAR, a framework that integrates environmental, social, governance (ESG), supply-chain, and reputational risks into transfer pricing analysis. Using a qualitative exploratory design, the study combines a PRISMA-guided literature review, regulatory mapping, and a risk-linkage protocol to operationalize ESG risk quantification under the OECD’s “returns follow risks” principle. Findings show that sustainability obligations materially influence value creation and profit allocation, justifying a sustainability risk premium. By aligning OECD comparability factors with Indonesia’s sustainability disclosure regime, POJK 51/2017, Perpres 98/2021, and PSPK 1–2 (aligned with IFRS S1–S2), Sustainable FAR provides a governance-oriented model for integrating fiscal and sustainability objectives. It reframes TP documentation as a strategic instrument linking transparency, accountability, and circular economy governance.