Jurnal Siasat Bisnis

Strengthening transparency and performance: The role of independent commissioners in enhancing CSR disclosure's impact on firm performance

Mon, 05 Jan 2026 00:00:00 +0000

Purpose – This study examines the effects of corporate social responsibility (CSR) disclosure on firm performance measured by Return on Equity (ROE), while examining the moderating role of independent commissioners in strengthen this relationship.
Design/methodology/approach – This research uses data obtained from all publicly listed companies on the Indonesia Stock Exchange, comprising 514 firm-year observations from 2018 to 2022. Employing moderated regression analysis model, the study evaluates the direct and moderating effects within the proposed research framework.
Findings – The findings reveal that CSR disclosure is positively and significantly related to the firm performance. In addition, independent commissioners are shown to strengthen the relationship, where more independent and objective supervision increases the effectiveness of CSR and attracts investor confidence.
Research limitations/implications – This study aggregates CSR disclosure without differentiating its parts and does not account for the features of independent commissioners, such as knowledge or tenure. Future studies should explore these dimensions and conduct comparative or longitudinal studies to enhance the understanding of CSR's impact on financial performance.
Practical implications – This study provides guidance for company management to improve CSR strategies by enhancing the oversight quality of independent commissioners. The findings also suggest that policymakers and professional institutions should focus on strengthening the competence and accountability of board members through evaluation frameworks and training programs, to ensure effective governance in CSR practices and long-term firm performance.
Originality/value – This study offers a new perspective by examining the moderating role of independent commissioners in the CSR to financial performance relationship in Indonesia, using a more detailed CSR disclosure measure based on the GRI 2021 framework. It provides practical and academic insights into governance and sustainability in emerging markets.

Live streaming's reigning monarchs: Delving into the pivotal role of influencers through live broadcasts

Mon, 05 Jan 2026 00:00:00 +0000

Purpose – The ubiquity of online businesses has seen a surge in influencer marketing, with live streaming emerging as a prominent strategy. However, the pivotal role of influencers, individuals with a substantial social media following, in live streaming and their subsequent influence on customer behavior justifies a thorough investigation. This research digs into the role of influencers in live streaming and examines their impact on Customer Engagement and Brand Awareness through live streaming activities.
Design/methodology/approach – A sample of 225 online customers joined this study. Data was collected using a questionnaire using a 5-point Likert scale and analyzed using Partial Least Square-Structural Equation Modeling (PLS-SEM) processed with WarpPLS Version 8.0.
Findings – Influencers can substantially contribute to both customer engagement and brand awareness through live streaming. However, the study indicates that influencers do not directly contribute to brand awareness. Influencers reign supreme in the realm of live streaming, showing their potential to enhance customer engagement and brand awareness. The study offers valuable insights for businesses and influencers to effectively leverage live streaming to meet their marketing goals.
Research limitations/implications – The cross-sectional design of the study hinders causal inferences. Longitudinal research and broader sampling are necessary to establish temporal relationships and generalize findings to diverse populations and regions.
Practical implications – The research suggests that businesses should strategically select influencers, leverage live streaming for engagement and brand, foster authentic relationships, and measure campaign performance while combining influencer marketing with other digital strategies.
Originality/value – This research offers a comprehensive exploration of the synergistic relationship between influencers and live streaming in driving customer engagement and brand awareness, providing empirical evidence and practical recommendations for marketers.

Basic psychological needs and financial well-being among e-commerce outsourcing employees: The role of financial attitude

Ranty Anindyastri, Tastaftiyan Risfandy, Septiana Lisa Arumsari — Mon, 05 Jan 2026 00:00:00 +0000

Purpose – This study investigates the relationship between basic psychological needs and financial well-being among outsourced employees in the e-commerce sector of Indonesia, with financial attitude as a mediating variable. Based on Self-Determination Theory (SDT), it aims to explore how the fulfillment of autonomy, competence, and relatedness contributes to positive financial outcomes.
Design/methodology/approach – This research applied a quantitative method by collecting survey data from 422 outsourced employees in Indonesia’s e-commerce sector. Data were obtained through an online questionnaire distributed via Google Forms and analyzed using Structural Equation Modeling with the Partial Least Squares (SEM - PLS) technique, using SmartPLS version 4.0.9.9
Findings – The research results show that basic psychological needs have a significant positive effect on financial attitude and financial well-being. Financial attitude was found to partially mediate the relationship between psychological needs and financial well-being. When the psychological needs of e-commerce outsourcing employees are fulfilled, they not only feel better emotionally and become more motivated but also exhibit more adaptive financial behaviors. Adaptive financial behavior, combined with positive financial attitudes, can help employees achieve greater financial well-being.
Research limitations/implications – This study is limited by its cross-sectional design and narrow employment context, which may affect generalizability. Using self-report surveys alone may not capture the full experiences of outsourced employees. Future research should consider longitudinal methods and qualitative approaches, such as interviews, to explore psychological needs and financial well-being more deeply.
Practical implications – Organizations should foster supportive work environments that meet employees’ psychological needs and integrate financial education into employee support programs. This holistic approach can enhance financial well-being, particularly in unstable or outsourced work settings.
Originality/value – This study expands the application of Self-Determination Theory within financial behavior by emphasizing how psychological needs influence individuals’ financial attitudes and outcomes. It also highlights the essential role of psychological resources in supporting financial well-being, especially among workers in unstable or uncertain employment conditions.

Bibliometric Analysis of Research on Financial Technology (FinTech) in the ASEAN Region: Research Streams, Influential Works, and Future Research Paths

Nurul Wahdaniyah, Achmad Nurmandi, Muhammad Younus — Mon, 05 Jan 2026 00:00:00 +0000

Purpose – This paper aims to identify trends and research mapping of financial technology (FinTech) in the ASEAN Region that have been of interest to academics and practitioners through the help of Vosviewers' application in visualizing the data.

Design/methodology/approach – The method used in this research is qualitative research with a literature study approach. The data found were 88 documents and then analyzed. This dataset was converted to CSV format, imported into Bibliometrix, and analyzed.

Findings – This study revealed a significant increase in research on Financial Technology from 2019 to 2023, indicating a growing interest among academics. Key terms such as Finance, Financial Inclusion, Banking, Financial Services, Financial Markets, Financial Services, Financial System, Innovation, Technology Adoption, Governance, and Technology Development were the most frequently used. These concepts are crucial in understanding the impact of Financial Technology on various economic and social aspects. This research highlights the relevance of Financial Technology not only for enhancing financial inclusion but also for public policy, financial stability, and the development of the digital economy globally. Supporting research and development in this area is therefore crucial.

Research limitations/implications – The main limitation of the research should be the use of data only from the Scopus database.

Practical implications – This paper guides academics and practitioners in understanding the key trends and focus of FinTech research. The results also help support FinTech policy development and innovation in the ASEAN region.

Originality/value – This paper reveals the research trends and areas of Financial Technology. The results help scholars quickly understand Financial Technology research. The paper also provides an alternative approach to conducting literature reviews with computer-aided analysis programs.

Keywords: Financial Technology, Technology Adoption, Innovation and Technology Development.

Peer-to-Peer Lending: Growth, Trends, and Economic Impact Analysis

Muhammad Ikhlash, Tiara Ayodhya Maharani Sembiring — Mon, 05 Jan 2026 00:00:00 +0000

Purpose – This study aims to analyze the growth trends and economic impact of peer-to-peer (P2P) lending, highlighting its role in financial inclusion and support for small businesses, particularly in contexts with limited access to traditional banking services.

Design/methodology/approach – The research employs a bibliometric analysis method to evaluate scientific publications on P2P lending from 2007 to 2024, utilizing data from the Scopus database. The study uses Biblioshiny WebInterface software connected via R-Packages to map research trends, author productivity, and international collaborations.

Findings – The analysis reveals a significant increase in P2P lending research publications, peaking in 2021. Key authors, institutions, and countries contributing to the field are identified, with China and the USA leading in research output and collaboration. The study highlights the dual focus on economic and technological aspects of P2P lending in the literature.

Research limitations/implications – The research is limited to articles, conference papers, and conference reviews, excluding other document types such as editorials and errata. This exclusion may restrict a comprehensive understanding of the entire spectrum of literature on P2P lending.

Practical implications – The findings underscore the importance of P2P lending in enhancing financial inclusion and providing alternative financing for SMEs. The identified research trends and influential contributors offer valuable insights for policymakers and practitioners to support the growth and regulation of P2P lending platforms.

Originality/value – This study provides a comprehensive bibliometric analysis of P2P lending research, offering a detailed overview of publication trends, key contributors, and international collaboration networks. It contributes to the existing literature by mapping the development and focus areas of P2P lending research, serving as a reference for future studies and policy formulation.

Global research trends in green advertising and green purchase intention: A decade of bibliometric insights

Zinulaen, Radyan Dananjoyo — Wed, 07 Jan 2026 00:00:00 +0000

Purpose – This study maps the development of research on green advertising and green purchase intention from 2015 to 2025. This study is motivated by the increasing relevance of environmental sustainability issues in marketing practices and consumer behavior.
Design/methodology/approach – This study uses a bibliometric approach by analyzing 150 scientific articles indexed in Scopus using the VOSviewer software. The analysis was conducted through four stages: initial search, screening, examination of bibliographic attributes, and thorough bibliometric analysis with a focus on keyword linkage networks, author collaboration, and citations.
Findings – The results of the study show a significant increase in the number of publications regarding green advertising and green purchase intention. Five thematic clusters were successfully identified: consumer perception of green messages, psychological attitudes towards the environment, macro sustainability issues, ethical challenges such as greenwashing, and communication effectiveness. The United States, India, and China are major contributors to the publication, although collaboration between authors is still limited.
Research limitations/implications – This study was limited to English-language journal articles indexed in Scopus, so it did not include conference proceedings or publications in other languages. Further research is recommended to explore the effectiveness of green advertising on specific products (e.g. sustainable fashion), the role of social media in green campaigns, as well as using experimental methods to test causal relationships.
Practical implications – The findings of this study can be leveraged by marketing practitioners to design more effective green advertising by aligning messages with consumer values and trust. The study also emphasizes the importance of honesty in communication so as not to cause skepticism about greenwashing practices
Originality/value – This study is the first systematic bibliometric mapping of green advertising and green purchase intention using VOSviewer, which reveals key trends, influential authors, and research gaps that can be leveraged for further study and development of sustainable marketing strategies.