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Influencers, Gold Price Perception, and Behavioral Moderators in Retail Stock Investment Interest Metha Dwi Apriyanti; Hendra Galuh Febrianto; Amalia Indah Fitriana; Andry Priharta; Mikail Kartaloğlu
Journal of Management and Entrepreneurship Research Vol. 7 No. 2 (2026)
Publisher : Universitas Islam Nahdlatul Ulama Jepara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.34001/jmer.2026.6.07.2-105

Abstract

Objective: This study investigates how stock market influencers and gold price perception shape retail investors’ investment interest, with digital engagement and risk tolerance as moderators. Research Design & Methods: A survey of 300 Indonesian retail investors was conducted using purposive sampling. Data were analyzed through SEM-PLS, including validity and reliability tests. Findings: Influencers significantly increase investment interest, whereas perceptions of the gold price reduce it. Digital engagement strengthens both the positive effect of influencers and the negative effect of gold perception. Risk tolerance weakens influencer effects but mitigates the adverse impact of gold perception. The influencer interest path shows the strongest coefficient. The model explains 63% of the variance in investment interest and has strong predictive relevance. Implications & Recommendations: Practitioners should leverage digital strategies and influencer collaborations while addressing concerns about the gold price through financial education. Policymakers may design risk-based literacy programs to balance enthusiasm for digital technologies with safe investment behavior. Contribution & Value Added: This study integrates dual moderating roles of digital engagement and risk tolerance, offering a novel framework to understand retail investor behavior in emerging markets amid digitalization and social media influence.
ENVIRONMENTAL PERFORMANCE AND COST IN SUSTAINABILITY REPORTING: TWO MODERATING MECHANISMS Mikail Kartaloğlu; Hendra Galuh Febrianto Febrianto; Amalia Indah Fitriana
Jurnal Comparative: Ekonomi dan Bisnis Vol. 8 No. 3 (2026): August
Publisher : Univesitas Muhammadiyah Tangerang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31000/qhq9d697

Abstract

This study examines the effects of environmental performance and environmental cost on sustainability reporting and investigates whether stakeholder pressure and independent commissioners strengthen these relationships. A quantitative research design is employed using 64 firm-year observations from 16 publicly listed Indonesian companies during 2021–2024. Secondary data are analyzed using panel-data regression with interaction terms to examine the proposed moderating effects. The results show that environmental performance and environmental cost positively affect sustainability reporting. Independent commissioners also have a positive direct effect on sustainability reporting. Furthermore, stakeholder pressure strengthens the positive relationships between environmental performance and sustainability reporting and between environmental cost and sustainability reporting. Independent commissioners similarly strengthen both relationships. The regression model is statistically significant, with an R-squared of 0.725 and an adjusted R-squared of 0.701. The findings indicate that environmental practices are more strongly translated into sustainability reporting when firms face greater stakeholder pressure and possess stronger independent oversight. The study contributes to legitimacy and stakeholder perspectives by integrating external stakeholder pressure and internal governance mechanisms within a dual-moderation framework.