Jurnal Maksipreneur: Manajemen, Koperasi, dan Entrepreneurship
Journal Title Jurnal Maksipreneur: Manajemen, Koperasi, dan Entrepreneurship Initials JMP Printed-ISSN 2089-550X (since December 2011) Electronic-ISSN 2527-6638 (since June 2016) Frequency Biannually (December and June) DOI Prefix 10.30588 by Review Process Blind-Peer-Review Access Policy Open Access Journal Copyright Notice Copyright Notice Editor-in-Chief Andriya Risdwiyanto Publisher Universitas Proklamasi 45, Yogyakarta, Indonesia Citation Analysis Google Scholar Journal Indexing/Archiving DOAJ | Crossref | SINTA | EBSCO | GARUDA | IOS | Dimensions | Journal Stories | WorldCat | ISSN | ResearchBib | Scilit | OpenAIRE | CORE | Semantic Scholar | EuroPub Jurnal Maksipreneur (JMP) is a periodical, scientific, and peer-reviewed journal published by Universitas Proklamasi 45 (UP45), Yogyakarta, Indonesia, twice a year (biannually) in December and June. This journal is intended to collect and publish a summary of research results and scientific development writings as well as original ideas that are fresh and challenges related to the study of development in management, cooperatives, and entrepreneurship. The JMP editor invites academicians, researchers, and practitioners who are interested in the development of scholarship in these fields to submit their best scientific works. Benefits for Authors The article will have DOI from Crossref. JMP uses a blind peer-review process. JMP is indexed by international indexers. Since April 7th, 2022, the JMP has been accredited in rank 3 of the Scientific and Technology Index (SINTA 3) by The Minister of Education, Culture, Research, and Technology of the Republic of Indonesia based on the decree of the Director General of Higher Education, Research, and Technology No. 105/E/KPT/2022 dated April 7th, 2022. Open Access Policy All readers can read and download any full-text articles free of charge.
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Consumer Journey Study Trends : A Systematic Mapping Study
This study aimed to collect information on consumer journey studies published in Scopus, Emerald Insight, and ScienceDirect from 2013 to 2023. In addition, the procedures were carried out using the principles of content analysis and a systematic mapping study mechanism, with seven aspects of analysis. A total of 60 articles were analyzed, and significant fluctuations were observed. The results showed that the highest number of articles was produced in 2019 and 2022, with the most productive countries being the United Kingdom (UK) and the United States. The study's predominant focus was consumer journey channels, with retail as the most significant locus. The results revealed that most articles used qualitative study methods, content, and thematic data analysis techniques, and an exploratory design. Consumer journey research has several important novelties for future studies. First, increased investment and international collaboration are needed to advance research in less-developed countries. Second, the future of this research includes technology personalization, studies of cultural, social, and inter-generational differences, and longitudinal studies. Third, research locations such as art festivals, hotels, and banks present great opportunities for exploration. Fourth, mixed methods were suitable due to their flexibility and depth of analysis. Fifth, exploratory methods are very effective for uncovering new aspects.
Copyright (c) 2026 Aurora Yupita Achmada, Arianis Chan, Pratami Wulan Tresna https://creativecommons.org/licenses/by/4.0
Dinamika Dinamika Likuiditas dan Risiko Green Bond vs Conventional Bond: Bukti Empiris dari Sektor Perbankan Bursa Efek Indonesia
This study examines differences in liquidity and risk between green and conventional bonds traded on the Indonesia Stock Exchange (IDX) from 2022 to 2024. Liquidity is measured by trading volume, transaction frequency, and turnover ratio, while risk is measured by modified duration, convexity, and sensitivity. This study uses a comparative quantitative approach with purposive sampling of banking sector bonds. Data are analyzed using descriptive statistics and the Mann–Whitney test due to non-normality. Results show significant differences in trading volume, modified duration, and convexity between green and conventional bonds. However, there are no significant differences in transaction frequency, turnover ratio, and sensitivity. These findings indicate that green bonds have lower market risk and more stable prices, but still exhibit lower liquidity than conventional bonds.
Copyright (c) 2026 Safitri Nurfianti, A. Ifayani Haanurat, Zalkha Soraya https://creativecommons.org/licenses/by/4.0
The Impact of Physical Store Strategy Changes on Sales Performance and Customer Loyalty: Evidence from Retail Store X
This study examines the impact of changes in physical store strategy on sales performance and customer loyalty at Retail Store X amid increasing competition and shifting consumer expectations in the retail industry. As offline stores evolve beyond transactional spaces, strategic adjustments are required to enhance customer experience and sustain competitiveness. This research employs a quantitative approach, collecting data through structured questionnaires distributed to customers of Retail Store X. The data were analyzed using Partial Least Squares–Structural Equation Modeling (PLS-SEM) with SmartPLS software to evaluate the relationships among changes in physical store strategy, sales performance, and customer loyalty. The results indicate that changes in physical store strategy have a positive and significant effect on customer loyalty, whereas sales performance has a stronger influence on sustaining long-term customer loyalty. These findings suggest that customer loyalty is formed through a continuous process that integrates positive in-store experiences with consistent sales outcomes. The study provides practical implications for retail managers to balance experiential strategies and performance-oriented initiatives in offline retail settings, while also contributing to the literature on retail management and customer behavior.
Copyright (c) 2026 Amelia Tryastuti, Mochamad Solichin https://creativecommons.org/licenses/by/4.0
Aspects Supporting Lecturers’ Scientific Publications as Educational Development in Universities
Social Exchange Theory examines how people interact within a group or company. It focuses on how workers think and make decisions based on fair treatment and trust in their leaders. When workers feel their relationships are built on fairness and mutual respect, they are more likely to put in their best effort. The study shows the importance of examining how managers lead, how much work lecturers have, and how they are rewarded in higher education to help them publish more scientific work. The findings suggest that transformational leadership and rewards are significantly associated with lecturers' performance in scientific publications, indicating that higher levels of these factors correlate with improved performance. The workload variable shows a negative link between workload and lecturers' scientific publication performance. This means that as the workload increases, the quality or amount of scientific publications decreases because the workload is too heavy for their abilities. If rewards can support such a large workload under social exchange theory, lecturers' scientific publication performance will also increase.
Copyright (c) 2026 Dina Prasetyaningrum, Arnesya Ramadhani, Dini Novi Rohmah https://creativecommons.org/licenses/by/4.0
From Showroom to Click: Antecedents of Showrooming in the Omnichannel Experience
This study examines how price sensitivity and trust in online sellers influence showrooming behavior, with omnichannel experience satisfaction serving as a mediator. Data were collected using a quantitative, associative design; questionnaires were administered to 165 cosmetic consumers in Cirebon, selected through purposive sampling. The data were analyzed in SmartPLS version four. The results show that price sensitivity has a positive and significant effect on showrooming behavior, whereas trust in online sellers has no significant direct effect. However, both independent variables significantly affect omnichannel experience satisfaction. Omnichannel experience satisfaction plays a significant mediating role in the relationships between trust in online sellers and price sensitivity, and showrooming behavior. These findings confirm that integrating a satisfying shopping experience is key to encouraging consumer showrooming behavior in the cosmetics retail industry. Traditional retailers should view showrooming as an opportunity for conversion by implementing integration strategies that combine the convenience of online and physical stores and ensure channel consistency.
Copyright (c) 2026 Rahmawati Rahmawati, Aang Curatman https://creativecommons.org/licenses/by/4.0
Studi Komparatif: Volatilitas dan Likuiditas Saham Setelah Implementasi Papan Pemantauan Khusus Tahap I dan II
The Special Monitoring Board (Papan Pemantauan Khusus/PPK) is a policy implemented by the Indonesia Stock Exchange to control price volatility and enhance trading quality for high-risk stocks through the call auction mechanism. This study compares stock volatility and liquidity before and after the implementation of PPK Phase I (Hybrid Call Auction) and PPK Phase II (Full Call Auction). This study employs a quantitative, comparative approach using stocks listed on the PPK during the 2023–2025 period. Secondary data, including stock prices, trading volume, and transaction value, are analyzed using the Wilcoxon Signed-Rank Test. The results indicate significant differences in stock volatility and liquidity following the implementation of the Special Monitoring Board. A greater reduction in volatility is observed during PPK Phase II, indicating the effectiveness of the full-auction mechanism in suppressing stock price fluctuations. However, in terms of liquidity, PPK Phase I tends to be followed by an improvement in market liquidity, whereas PPK Phase II shows a short-term decline in liquidity. The findings indicate a trade-off between price stability and efficiency in the implementation of the Full Call Auction mechanism in the Indonesian capital market.
Copyright (c) 2026 Tiwi Tiwi, A. Ifayani Haanurat, Nurlina Nurlina https://creativecommons.org/licenses/by/4.0
The Influence of Social Media Marketing and Customer Engagement on Brand Awareness Through the Perspective of Multi-Platform Followers of Baraja Coffee Cirebon
This study examines how social media marketing and customer engagement affect brand awareness among Baraja Coffee’s Instagram and TikTok followers in Cirebon. The study was motivated by the growing importance of digital platforms for local coffee shops in building brand visibility and maintaining relevance in a competitive market. A quantitative explanatory approach was employed, using an online questionnaire distributed to followers of Baraja Coffee’s social media accounts. A total of 394 valid responses were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) in SmartPLS 4. The results show that social media marketing has a positive and significant effect on brand awareness, and that customer engagement also has a positive and significant effect on brand awareness. Social media marketing emerged as the stronger predictor, while both variables jointly explained a substantial proportion of the variance in brand awareness. These findings imply that local coffee shops need not only consistent and attractive social media content but also active follower engagement to strengthen brand recognition and recall in digital environments.
Copyright (c) 2026 Gina Caesya Anugrah, Muhammad Santoso, Soesanty Maulany https://creativecommons.org/licenses/by/4.0
Spiritual Integration in Financial Frameworks: Its Relationship to Long-Term Financial Planning and Subjective Well-Being Among Generation Z in South Sulawesi
Generation Z in South Sulawesi faces challenges in managing their finances carefully amid a consumerist lifestyle and modernization pressures. This study examines the influence of spiritual integration on long-term financial planning and subjective well-being. A quantitative approach is used, employing the survey method. The carefully prepared questionnaire was administered to 100 respondents from Generation Z, aged 15 to 29, all from South Sulawesi. These respondents were selected using the purposive sampling method. The collected data were then analyzed using the Partial Least Squares Structural Equation Modeling technique, or PLS-SEM for short. The results of the analysis show that spirituality plays a major role in fostering a more responsible financial attitude, improving long-term financial planning, and strengthening people's subjective well-being. In addition, long-term financial planning partially mediates the relationship between spiritual integration and subjective well-being. These findings confirm that a financial approach that incorporates spiritual values can be an effective strategy to improve the quality of life among young people. They highlight the importance of integrating the spiritual dimension into financial education programs.
Copyright (c) 2026 Sri Wahyuni, Husmaruddin Husmaruddin, Goso Goso https://creativecommons.org/licenses/by/4.0
Internal Locus of Control and Spiritual Intelligence as Drivers of Young Generation’s Financial Behaviour: A Gender Differences Analysis
Personal financial management behaviour is increasingly vital for Generation Z, who face rapid digitalisation, abundant information, and rising consumerism that influence their financial attitudes and choices. This study investigates the effects of Internal Locus of Control and Spiritual Intelligence on personal financial management behaviour, with gender as a moderating factor, using data from 154 respondents in Banyumas Regency collected through purposive sampling and analysed with PLS-SEM. The findings show that Internal Locus of Control positively and significantly enhances financial management behaviour, indicating that individuals with stronger self-control tend to manage finances more responsibly. Spiritual Intelligence also contributes positively, highlighting the influence of values and awareness on financial decisions. Gender further moderates both relationships, revealing behavioural differences between males and females. Overall, the study underscores the need to integrate psychological and spiritual elements into financial education for Generation Z.
Copyright (c) 2026 Aqila Jihan Putri Rahardin, Maulida Nurul Innayah, Wida Purwidianti, Arini Hidayah https://creativecommons.org/licenses/by/4.0
Decades of Discord: A Bibliometric Mapping of Agency Problems within Family-Owned Enterprises
This study aims to identify the intellectual evolution and thematic development of agency problems within family-owned enterprises through a comprehensive bibliometric approach. The bibliometric method was used to analyze publication trends, citations, authorship, and core research themes related to agency conflicts during the period of 2001–2026. Based on the search results, data were collected through the Scopus database using Publish or Perish (PoP), yielding 139 complete articles. The search covered the period from 2001 to 2026, resulting in 139 papers with a total of 432,28 citations per year. Additionally, each paper received an average of 77,75 citations, and the 139 papers collectively had 10,807 citations. Data was retrieved from the Scopus database and processed using Publish or Perish (PoP) and VOSviewer software to map the scholarly landscape. The results show a significant upward trajectory in publications and citations, reflecting a growing global academic interest in the unique governance challenges faced by family firms. Key statistical findings indicate a high citation impact per manuscript, underscoring the foundational nature of this field in corporate finance and management. The thematic analysis grouped the research into four primary clusters: principal-principal conflicts, corporate governance mechanisms, socioemotional wealth (SEW), and firm performance. The findings suggest that while strong family control can minimize traditional manager-owner frictions, it frequently triggers Type II agency costs that jeopardize minority shareholder interests. This study provides critical insights for researchers and practitioners to understand the dynamics of family governance, while highlighting future research opportunities in digital transformation and sustainability to support long-term business resilience.
Copyright (c) 2026 Bintang Lazuardi Benteng Buana Muslim, Izlin Ismail https://creativecommons.org/licenses/by/4.0
How Does Financial Self-Efficacy Affect Financial Behavior and Financial Well-Being? Evidence from a Gender Perspective
This study examines the influence of financial self-efficacy (FSE) on financial behavior and financial well-being, with a particular focus on gender differences. It investigates the extent to which individuals' confidence in their financial management skills influences behaviors such as budgeting and, in turn, their overall financial well-being. It emphasizes that individuals with higher FSE tend to make more informed financial decisions, which in turn result in greater financial security. The study also examines the differential impacts of FSE on men and women, revealing that women are more profoundly affected by their financial self-confidence in financial management and in attaining enhanced financial well-being than men. These findings indicate the need for gender-sensitive financial education programs to empower women, especially in long-term financial planning and investing. The study also suggests that improving FSE through targeted financial education programs can lead to better financial management for both men and women, while considering cultural and social factors.
Copyright (c) 2026 Lambok Nababan, Jhason Kristian Lee https://creativecommons.org/licenses/by/4.0
The Effect of Interest Rates and Fluctuations in World Oil Prices on the Profitability of Islamic Banking in Qatar with Inflation as a Moderating Variable 2010-2024
This study analyzes how interest rates and fluctuations in world oil prices affect the profitability of Islamic banking in Qatar, with inflation as a moderating variable, over the period 2010–2024. Using a quantitative panel regression approach on data from four Islamic banks in Qatar, the results show that interest rates have a significant negative effect on profitability, while fluctuations in world oil prices have a significant positive effect on ROA. Inflation has a negative effect on profitability and moderates the relationships between interest rates and ROA and between world oil prices and ROA through quasi-moderation. Overall, all variables have a significant effect on profitability, confirming that global and domestic macroeconomic dynamics, especially changes in interest rates, oil prices, and inflation, play an important role in determining the stability and performance of Islamic banking in Qatar.
Copyright (c) 2026 Kholidatul Mila, Meldona Meldona https://creativecommons.org/licenses/by/4.0
Emotional and Social Drivers of Consumer Behaviour in Live-Streaming Commerce: A Conceptual Integration of PAD and SOR Models
Live-streaming commerce has reshaped digital retail by integrating real-time interaction and immersive social environments that drive emotional responses and stimulate impulsive buying. Although the Stimulus–Organism–Response (SOR) framework and the Pleasure–Arousal–Dominance (PAD) model have been frequently applied in previous studies, their integration receives little attention, and the dominance dimension is often overlooked. Therefore, this study systematically maps the intellectual structure and thematic evolution of research to examine the relationships between social presence, affective states, and impulsive buying in live-streaming commerce. Using a bibliometric-based systematic literature review, 998 articles published between 2021 and 2026 were retrieved through Publish or Perish and Google Scholar. From this pool, 18 Scopus-indexed business and management studies were chosen as they met the PRISMA inclusion criteria. VOSviewer analysis reveals a strong empirical concentration on pleasure and arousal as primary mediating mechanisms, while the dominance is noticeably under-explored and the integration of SOR is often incomplete. This study enhances the PAD–SOR framework by demonstrating how the interplay between emotional arousal and emotion regulation influences impulsive purchasing in immersive digital commerce.
Copyright (c) 2026 Zul Fahmi, Vidyarini Dwita, Yunia Wardi, Abror Abror, Dina Patrisia, Teh Nurul Afiza Abdul Jalil https://creativecommons.org/licenses/by/4.0
Transformasi Kinerja Keuangan BUMN Pasca-Danantara: Pendekatan DuPont Analysis
The formation of Danantara is a strategy to transform SOE governance through investment consolidation. This research analyzes changes in the financial performance of nine banking and non-banking SOEs before and after Danantara's integration using the DuPont analysis. The results indicate that Return on Equity (ROE) in both sectors experienced a short-term decline due to transition costs and structural adjustments. ROE patterns differed across sectors, with the banking sector relying more on asset efficiency, while the non-banking sector was influenced by interest expense management and operating margins. These findings suggest that Danantara's impact is sectoral, so performance evaluation and synergy-strengthening strategies need to be adapted to the characteristics of each SOE business.
Copyright (c) 2026 Kurnia Kurnia, Sahabuddin Nanda, Wa Ode Rayyani https://creativecommons.org/licenses/by/4.0
Trends on Leadership, Social Support, and Workplace Inclusion: A Systematic Science Mapping Study
This study examines the intellectual structure and research dynamics related to leadership, workplace inclusion, and social support within organizational and management contexts using a systematic science mapping approach. Data were collected from Scopus and Web of Science databases, covering publications between 2000 and 2024. Following PRISMA screening guidelines, 80 high-quality articles were included for analysis. The findings reveal an exponential growth of publications after 2015, with significant contributions from scholars in workplace, psychology, and management. Science mapping identified five major thematic clusters: inclusive leadership, workplace equity, psychosocial well-being, family engagement, and policy development. Beyond these general trends, the results hold specific implications for families, particularly working mothers raising children with special needs, whose dual responsibilities highlight the importance of robust social support systems and inclusive policies. The study highlights gaps in cross-regional comparisons and limited integration of digital transformation into workplace inclusion research. It concludes with a future agenda emphasizing interdisciplinary collaboration and longitudinal designs to address persistent inequalities in access and leadership practices. This paper contributes by synthesizing fragmented literature and offering a holistic overview that can inform both academic research and policy development.
Copyright (c) 2026 Rr. Hawik Ervina I, Qristin Violinda, Noventia Karina P, Mochamad Fadjar Darmaputra https://creativecommons.org/licenses/by/4.0
Pembelian Impulsif dalam Live Streaming TikTok Shop: Peran Keterikatan Endorsement dan Perbedaan Gender sebagai Pemoderasi
This study aims to determine the relationship between consumer attachment to endorsements and impulse purchases, moderated by gender, by adopting the Elaboration Likelihood Model (ELM) and Attachment Theory. This research is a quantitative study using Partial Least Squares Structural Equation Modeling (PLS-SEM) in SmartPLS 4.1.1.1. Data collection used a questionnaire and non-probability sampling, specifically purposive sampling, targeting TikTok users in Indonesia who have made more than one purchase via live streaming, for a total of 300 respondents. The results showed that the suitability of influencer live streaming content affects consumer attachment to live streaming and influencers; consumer attachment to live streaming and influencers affects attachment to endorsements; and attachment to endorsements affects impulse purchases. However, gender does not significantly moderate the relationship between consumer attachment to endorsements and impulse purchases.
Copyright (c) 2026 Guruh Ghifar Zalzalah, Oktavia Nurul Khasanah , Fikri Farhan https://creativecommons.org/licenses/by/4.0
Peran Media Sosial TikTok Sebagai Strategi Digital Marketing dalam Meningkatkan Brand Awareness dan Loyalitas Konsumen
This study examines how TikTok can be used as a digital marketing medium to increase brand awareness and customer loyalty. TikTok is a popular platform due to its interactive video content that can be customized to user preferences. Quantitative methods were used in this study, involving a survey of fifty active TikTok users in Rantauprapat. Purposive sampling was the sampling method. Data processing was carried out using SPSS with several tests. The results of this study will show that TikTok directly and through intermediary variables influences brand awareness and customer loyalty.
Copyright (c) 2026 Widya Afrida, Pristiyono Pristiyono, Syukron Arjuna https://creativecommons.org/licenses/by/4.0
Dampak Personalisasi Konten di Media Sosial Terhadap Minat Menggunakan Jasa Pariwisata Melalui Keterlibatan Konsumen
Leveraging AI to create relevant content for audiences facilitates genuine two-way communication, which can significantly increase customer engagement and, consequently, strengthen intention to use the service. This study investigates the direct and indirect effects of personalized content on intention to use, utilizing consumer engagement as a mediating variable. The research focuses on Indonesian consumers who have interacted with the local guide tour service provider @kawanceritaoutdoor. A quantitative approach was employed, collecting data from 150 respondents via an online survey; respondents were selected based on their interaction with @kawanceritaoutdoor's AI-personalized content on Instagram. The results show that personalized content significantly and positively influences consumer engagement and intention to use. However, consumer engagement does not significantly influence intention to use. Consequently, the study finds that consumer engagement does not mediate the correlation between personalized content and intention to use. The divergence from some previous research suggests that the specific type of interaction in consumer engagement is crucial in determining its effectiveness on buying decisions. This research provides practical insights to optimize content strategies aimed at building deeper connections with the consumer to effectively enhance purchase intention conversion.
Copyright (c) 2026 Mirza Putri Andita, Azalia Mawarindani Indra https://creativecommons.org/licenses/by/4.0
Pengaruh Integrasi Informasi terhadap Kinerja Pelabuhan: Peran Mediasi Praktik Manajemen Rantai Pasok dan Kapabilitas Operasional Komunitas Pelabuhan
The acceleration of digitalization in maritime logistics necessitates a comprehensive understanding of information integration mechanisms affecting port operational excellence. This study investigates the impact of internal and external information integration on port performance through the mediating roles of supply chain management practices and port community operational capability. Employing an explanatory quantitative approach, data were collected from 299 stakeholders across Indonesian port communities using a purposive sampling technique. Partial Least Squares Structural Equation Modeling analysis reveals that internal information integration indirectly influences port performance exclusively through both mediating variables, whereas external information integration demonstrates both direct and indirect effects. Supply chain management practices and port community operational capability serve as significant mediators, confirming Resource-Based View and Dynamic Capabilities Theory propositions. Findings indicate that effective digitalization transcends technological infrastructure advancement, requiring organizational capability development and collaborative ecosystem cultivation among stakeholders. This research contributes to theoretical advancement in port information integration literature and provides practical implications for port authorities to prioritize external collaboration, strengthening, and capability-building initiatives for optimizing digital transformation outcomes.
Copyright (c) 2026 Kahfi Ambiya, Triwulandari Satitidjati Dewayana, Wahyuningsih Santosa https://creativecommons.org/licenses/by/4.0
Eksplorasi Penerapan Green Marketing untuk Membangun Keunggulan Kompetitif pada Pelaku UMKM Perempuan
Micro, small, and medium enterprises (MSMEs) represent a vital driver of Indonesia’s economic growth, with women comprising 64.5% of business actors. In Surakarta, a tourism-oriented city with 13,203 active MSMEs in 2023, women entrepreneurs hold significant potential to strengthen competitiveness. However, increasing environmental challenges demand greater adoption of sustainable practices. This study investigates the role of green awareness and green knowledge in enhancing competitive advantage through green marketing among women-led MSMEs in Surakarta. A quantitative method was applied using questionnaires distributed to 100 respondents, with data analysed through SEM-PLS. The results demonstrate that green knowledge significantly affects competitive advantage, both directly and indirectly through green marketing. In contrast, green awareness does not show a significant influence on competitive advantage, nor through green marketing mediation. These findings highlight the strategic importance of knowledge-based approaches in fostering sustainable competitiveness for women entrepreneurs.
Copyright (c) 2026 Margareta Ernanda Rahardani, Vincentia Indah Puspitasari https://creativecommons.org/licenses/by/4.0
Distribusi Margin Pemasaran dan Efisiensi Rantai Pemasaran Bawang Putih di Kabupaten Karanganyar
This study analyzes the distribution of marketing margins and the efficiency of the garlic marketing chain in Karanganyar Regency. Data were collected through surveys of farmers and marketing intermediaries and analyzed using marketing margin, farmer’s share, and profit–cost ratio approaches. The results show that marketing margins vary across marketing channels and tend to increase with longer distribution chains. Higher farmer’s share values were found in shorter marketing channels, indicating a more farmer-oriented price distribution. All marketing channels have profit–cost ratios greater than one, indicating that marketing activities are economically feasible, although efficiency levels vary among channels. Overall, the garlic marketing chain in Karanganyar Regency is dominated by relatively long channels, resulting in uneven margin distribution. Strengthening farmer institutions and shortening the marketing chain are recommended to improve marketing efficiency and price distribution fairness.
Copyright (c) 2026 Hanifah Putrirahmah Ningrum, Endang Siti Rahayu, Setyowati Setyowati https://creativecommons.org/licenses/by/4.0
When Value Meets Trust: Exploring the Impact of Electronic Word of Mouth on Customer Loyalty
This study explores how perceived value and trust shape electronic word of mouth and customer loyalty in the hospitality industry, positioning e-WOM as an intervening variable. A quantitative research design was employed, with primary data collected via questionnaires distributed to 157 guests of the Grand Zuri Jababeka Hotel in November 2025, using purposive sampling. The analysis was conducted using Partial Least Squares Structural Equation Modeling (PLS-SEM). The results demonstrate that both perceived value and trust significantly and positively influence e-WOM and customer loyalty. Moreover, e-WOM plays a significant role in driving customer loyalty and acts as a partial mediator in the relationships between perceived value and customer loyalty, and between trust and customer loyalty. These findings underscore the strategic importance of strengthening perceived value and trust to stimulate favorable e-WOM and enhance long-term customer loyalty. The study offers managerial implications for hotel practitioners aiming to improve service performance and develop more effective marketing initiatives.
Copyright (c) 2026 Tri Ari Mukti, Rindika Pramadanti https://creativecommons.org/licenses/by/4.0
Literasi Keuangan, Persepsi Risiko, dan Minat Investasi Emas Digital pada Generasi Z di Kota Cirebon: Peran Mediasi Perilaku Keuangan
The digital transition has broadened young individuals' access to a range of financial options, including digital gold. Nonetheless, the presence of digital platforms does not consistently correlate with substantial investment interest. This study aims to investigate the influence of financial literacy and risk perception on the inclination to invest in digital gold, both directly and indirectly through financial behavior among Generation Z in Cirebon familiar with the Pegadaian Digital service. This study employs a quantitative methodology via a cross-sectional survey design. Data were gathered from 130 participants by purposive sampling and analyzed via PLS-SEM. The findings indicate that financial literacy positively and significantly influences financial behavior and interest in investing in digital gold. Financial conduct exerts a positive and considerable influence on investment interest and mediates the impact of financial literacy on investment interest. Conversely, risk perception exerts no substantial influence on financial behavior or investment desire, and its indirect impact is likewise negligible. The findings suggest that enhancing Generation Z's interest in digital gold investment requires an emphasis on bolstering practical financial literacy and cultivating sound financial habits.
Copyright (c) 2026 Fanny Annisa Fazarrosy, Krisdiana Krisdiana https://creativecommons.org/licenses/by/4.0