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THE ROLE OF FINANCIAL LITERACY, BEHAVIOR, TECHNOLOGY, AND ATTITUDE IN INVESTMENT INTENTION Dede Sunaryo; Lena Erdawati
Dynamic Management Journal Vol. 10 No. 2 (2026): April
Publisher : Universitas Muhammadiyah Tangerang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31000/dmj.v10i2.16184

Abstract

Investment interest among university students is critical for early financial participation, yet remains underexplored in the context of multidimensional financial factors. This study aims to analyze the influence of financial literacy, financial Experience, financial Behavior, financial technology, and financial Attitude on investment interest, with an empirical focus on active undergraduate students at the Faculty of Economics and Business (FEB), Universitas Muhammadiyah Tangerang. A quantitative method was employed, using SPSS version 25 for analysis. Data were collected via online questionnaires distributed via Google Forms, using a Likert scale, from 97 respondents. The analysis included validity and reliability tests, classical assumption tests, multiple linear regression, and hypothesis testing using t-tests and F-tests. The findings reveal that, in part, financial literacy does not significantly affect investment interest, whereas financial Experience, financial Attitude, and financial technology each have a positive and significant effect. However, financial Behavior shows no significant partial effect. Simultaneously, all five variables together exert a significant influence on investment interest. This study provides empirical evidence from a student sample in a developing institutional context. It offers novelty by integrating five financial constructs, including financial technology, into a single investment-interest model that has rarely been tested collectively among active university students.
The Impact of Corporate Governance, Technology-Based Risk Management, and Reporting Transparency on Investor Confidence in Indonesia's Technology Industry Lena Erdawati; Ahmad Eko Saputro; Yanti Arnilis; Sri Juminawati; Eko Sudarmanto
West Science Interdisciplinary Studies Vol. 4 No. 01 (2026): West Science Interdisciplinary Studies
Publisher : Westscience Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58812/wsis.v4i01.2590

Abstract

This study investigates the impact of corporate governance, technology-based risk management, and reporting transparency on investor confidence in the Indonesian technology industry. Employing a quantitative research design, data were collected from 135 respondents with experience and knowledge related to investment and technology-based firms in Indonesia using a structured questionnaire measured on a Likert scale. The data were analyzed using Structural Equation Modeling–Partial Least Squares (SEM-PLS 3) to examine the relationships among the proposed constructs. The results reveal that corporate governance has a positive and significant effect on investor confidence, indicating that effective governance mechanisms enhance trust and reduce perceived agency problems. Technology-based risk management is also found to positively influence investor confidence, suggesting that the adoption of digital tools and systems for risk identification and mitigation signals organizational resilience and preparedness. Furthermore, reporting transparency demonstrates the strongest positive effect on investor confidence, emphasizing the critical role of clear, accurate, and timely disclosure in reducing information asymmetry. Collectively, the findings suggest that strengthening governance practices, leveraging technology in risk management, and improving reporting transparency are essential strategies for enhancing investor confidence and supporting sustainable growth in Indonesia’s technology sector. This study contributes to the literature on corporate governance and investment behavior in emerging markets and offers practical insights for managers, regulators, and investors.
Pendampingan Pengelolaan Keuangan Untuk Meningkatkan Kinerja Bisnis Homestay di Desa Wisata Bantaragung Metha Dwi Apriyanti; Andi Kusuma Negara; Lena Erdawati; Dede Sunaryo; Abdul Karim
Jurnal Penelitian dan Pengabdian Masyarakat Vol. 4 No. 3 (2026): August 2026
Publisher : Yayasan Pondok Pesantren Sunan Bonang Tuban

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61231/w4bkq352

Abstract

This community service program aimed to improve the financial management capacity of homestay owners through mentoring activities focused on simple bookkeeping, preparation of financial statements, operational cost calculation, pricing strategies, and business feasibility analysis. The program applied the Asset-Based Community Development (ABCD) approach by utilizing local community potential through participatory training, mentoring, discussion, and evaluation. The mentoring results showed an improvement in participants' understanding and skills in recording financial transactions, preparing cash flow and profit-loss reports, identifying operational costs, determining reasonable room rates, and evaluating business performance using financial indicators. The program also encouraged participants to separate personal and business finances and implement simple financial management practices to support business sustainability. The mentoring activities are expected to strengthen the financial resilience of homestay businesses while supporting the sustainable development of Bantaragung Tourism Village.
Analysis of Strategic Agility and Digital Transformation on Innovation Capability and Competitive Advantage in Technology Startups in Bandung Heny Fitriani; Siska Mayratih; Lena Erdawati; Eko Sudarmanto
West Science Journal Economic and Entrepreneurship Vol. 4 No. 03 (2026): West Science Journal Economic and Entrepreneurship
Publisher : Westscience Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58812/wsjee.v4i03.3062

Abstract

This study examines the effects of strategic agility and digital transformation on innovation capability and competitive advantage among technology startups in Bandung, Indonesia. A quantitative research design was employed using a cross-sectional survey involving 190 respondents who were directly engaged in technology startup activities. Data were collected through a structured questionnaire using a five-point Likert scale and analyzed through Partial Least Squares Structural Equation Modeling using SmartPLS 3. The findings show that strategic agility has a positive and significant effect on innovation capability and competitive advantage. Digital transformation also has a positive and significant effect on innovation capability and competitive advantage. Innovation capability has a strong positive and significant effect on competitive advantage. Furthermore, innovation capability significantly mediates the relationships between strategic agility and competitive advantage and between digital transformation and competitive advantage. The model explains 68.4% of the variance in innovation capability and 75.6% of the variance in competitive advantage. These findings indicate that technology startups can strengthen their competitive position by combining strategic responsiveness, digital integration, and continuous innovation. The study contributes to the Resource-Based View and Dynamic Capabilities perspective by demonstrating that innovation capability functions as a key mechanism through which strategic agility and digital transformation generate competitive value.
Edukasi Interaktif Anti-Bullying sebagai Upaya Preventif Penguatan Empati Siswa Sekolah Dasar Arian Zikri; Lena Erdawati; Yanthi Meitry Gunawan
 Jurnal Abdi Masyarakat Multidisiplin Vol. 5 No. 2 (2026): Agustus: JURNAL ABDI MASYARAKAT MULTIDISIPLIN
Publisher : Asosiasi Dosen Muda Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56127/jammu.v5i2.3064

Abstract

Bullying di lingkungan sekolah dasar merupakan persoalan yang dapat memengaruhi kenyamanan belajar, perkembangan psikologis, serta hubungan sosial siswa sehingga diperlukan upaya pencegahan sejak dini. Kegiatan pengabdian kepada masyarakat ini bertujuan memberikan edukasi interaktif mengenai pengertian, jenis, dampak, dan cara merespons bullying sekaligus memperkuat empati, toleransi, dan kepedulian sosial siswa. Kegiatan dilaksanakan pada 13 Juni 2026 di SD Negeri Kedaung Wetan 07 Kota Tangerang dengan melibatkan 37 siswa kelas IV–VI. Pendekatan yang digunakan berupa mentoring visual-dialogis yang dikombinasikan dengan mid-session dialogic interaction, tanya jawab, kuis interaktif, simulasi sederhana, ice breaking, dan aktivitas edukatif bertema anti-bullying. Data diperoleh melalui observasi partisipatif dan dokumentasi, kemudian dianalisis secara deskriptif-kualitatif melalui reduksi data, penyajian data, dan penarikan kesimpulan. Hasil kegiatan menunjukkan bahwa siswa mampu mengenali beberapa bentuk bullying, memberikan contoh perilaku perundungan, menjelaskan cara meresponsnya, serta memahami pentingnya melaporkan kejadian kepada guru, orang tua, atau orang dewasa yang dipercaya. Siswa juga menunjukkan respons afektif positif berupa keterlibatan dalam dialog, keberanian menyampaikan pendapat, sikap saling menghargai, dan partisipasi dalam aktivitas kelompok. Temuan tersebut menunjukkan ketercapaian pemahaman dan indikasi awal perilaku prososial yang berkaitan dengan empati. Edukasi interaktif dapat digunakan sebagai salah satu pendekatan preventif untuk memperkuat pemahaman anti-bullying dan menciptakan lingkungan sekolah yang lebih aman dan suportif.
Knowledge Sharing as the Mediating Role between Work Engagement and Organizational Performance in Higher Education Yanthi Meitry Gunawan; Lena Erdawati; Dede Sunaryo
Indonesian Journal of Business and Entrepreneurship Research Vol. 4 No. 3 (2026): Vol. 4, No. 3, August 2026: Indonesian Journal of Business and Entrepreneurship
Publisher : Department of Business and Entrepreneurship, Faculty of Economics and Business, Universitas Negeri Makassar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62794/ijober.v4i3.362

Abstract

The dominant narrative in work engagement research draws a direct line from engaged employees to better organizational outcomes. This study complicates and enriches that narrative by testing knowledge sharing as the mechanism through which work engagement is associated with organizational performance, situated within a conceptual digital knowledge ecosystem framing. Using PLS-SEM (SmartPLS 4.0) with cross-sectional survey data from 208 academic staff at Universitas Muhammadiyah Tangerang (UMT), all four hypothesized relationships were supported at p < 0.001. Work engagement was positively associated with knowledge sharing (β = 0.581) and directly with perceived organizational performance (β = 0.318). Knowledge sharing was positively associated with perceived organizational performance (β = 0.412). Knowledge sharing partially mediated the work engagement–organizational performance relationship (indirect β = 0.239; VAF = 42.9%), consistent with a statistically significant partial mediation pathway rather than a demonstrated causal mechanism. The model explained 33.8% of the variance in knowledge sharing and 69.4% of the variance in organizational performance, reported in full in the structural model assessment (Table 3). Digital infrastructure is discussed as a contextual condition that may shape this pathway, but no digital-platform variable was measured or tested in the present model, and this remains a direction for future research. These findings offer preliminary, correlational evidence to inform HR practitioners and institutional leaders considering how knowledge-sharing facilitation might complement engagement-focused interventions.
The Governance Shield: Rethinking Investment Resilience in Financially Distressed Indonesian Banks A Moderating Regression Analysis Perspective on Agency Theory and Corporate Governance Lena Erdawati; Dede Sunaryo; Yanthi Meitry Gunawan
Indonesian Journal of Business and Entrepreneurship Research Vol. 4 No. 3 (2026): Vol. 4, No. 3, August 2026: Indonesian Journal of Business and Entrepreneurship
Publisher : Department of Business and Entrepreneurship, Faculty of Economics and Business, Universitas Negeri Makassar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62794/ijober.v4i3.365

Abstract

Financial distress episodes in the Indonesian banking sector generate investment suppression dynamics whose severity is conditioned by the institutional quality of the distressed firm's governance architecture. This study investigates corporate governance as an active "crisis shield" that attenuates the negative relationship between financial distress and investment decisions in the Indonesian banking sector. Employing Moderated Regression Analysis (MRA) on panel data from 30 IDX-listed banking companies (2019-2022; N = 120 firm-year observations), and proxying financial distress by the Altman Z-Score and investment decisions by Tobin's Q, this study finds that financial distress exerts a significant negative effect on investment decisions (β = -0.412, p < 0.001), consistent with agency theory's underinvestment hypothesis. Corporate governance (composite of independent commissioner proportion and institutional ownership) exerts a significant positive direct effect (β = 0.341, p < 0.001) and, critically, significantly moderates the distress-investment relationship (β = 0.287, p < 0.01), such that the negative effect of distress on investment is meaningfully weaker in well-governed banks. The model explains 61.4% of investment decision variance. It should be noted, however, that the pooled cross-sectional design precludes strictly causal inference, and these findings are best interpreted as consistent with, rather than proof of, the proposed buffering mechanism. Notwithstanding this observational caveat, these findings reframe corporate governance from a regulatory compliance mechanism to a strategic resilience investment, with important implications for OJK banking supervisors, board practitioners, and institutional investors in emerging market banking.
Green Human Resource Management Practices, Pro-Environmental Behavior, and Employee Commitment to Sustainability in Manufacturing Companies Agus Yulistiyono; Lena Erdawati; Yanthi Meitry Gunawan
Indonesian Journal of Business and Entrepreneurship Research Vol. 4 No. 3 (2026): Vol. 4, No. 3, August 2026: Indonesian Journal of Business and Entrepreneurship
Publisher : Department of Business and Entrepreneurship, Faculty of Economics and Business, Universitas Negeri Makassar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62794/ijober.v4i3.371

Abstract

This study investigates the relationship between Green Human Resource Management (GHRM) practices and employee commitment to sustainability by examining pro-environmental behavior (PEB) as a mediating mechanism in Indonesian manufacturing companies. Employing a quantitative research approach, data were collected from 280 employees working in manufacturing firms in Indonesia through a structured questionnaire. The data were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) to examine the proposed relationships. The findings indicate that GHRM practices, including green recruitment and selection, green training and development, green performance appraisal, green reward and compensation, and green involvement and participation, significantly and positively influence employees’ pro-environmental behavior (β = 0.19–0.42, p < .05 to p < .001). Furthermore, pro-environmental behavior demonstrates a strong positive relationship with employee commitment to sustainability (β = 0.54, p < .001). In contrast, the direct relationship between overall GHRM practices and employee commitment to sustainability is not statistically significant (β = 0.17, ns), suggesting that employees’ sustainability commitment is primarily developed through the behavioral internalization of environmental values. These findings highlight the importance of integrating environmental principles across human resource management processes to encourage employee participation in sustainability initiatives. This study contributes to the GHRM literature by empirically demonstrating the mediating role of pro-environmental behavior within the Indonesian manufacturing context and extending the application of Pro-Environmental Behavior Theory in explaining how organizational environmental practices translate into employee sustainability commitment.
Strategic Decision-Making and Business Risk Management: Simon's Bounded Rationality Theory in Organizational Policy Formulation Processes Amid Uncertainty Ahmad Zakki Mubarok; Dede Sunaryo; Lena Erdawati
Indonesian Journal of Business and Entrepreneurship Research Vol. 4 No. 3 (2026): Vol. 4, No. 3, August 2026: Indonesian Journal of Business and Entrepreneurship
Publisher : Department of Business and Entrepreneurship, Faculty of Economics and Business, Universitas Negeri Makassar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62794/ijober.v4i3.372

Abstract

This study examines how bounded rationality constraints are associated with strategic decision quality and business risk management effectiveness in Indonesian organizations. A quantitative cross-sectional survey was conducted with 285 organizational decision-makers from manufacturing, financial services, retail and distribution, and public sector organizations. The proposed relationships were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) with bootstrapping. The findings show that cognitive limitations, information incompleteness, time pressure, and environmental uncertainty were significantly associated with strategic decision quality (β = 0.29–0.45, p < .01). Strategic decision quality was strongly associated with business risk management effectiveness (β = 0.61, p < .001). Significant indirect effects were found for all four bounded rationality dimensions, with information incompleteness producing the largest indirect effect (β = 0.28). The residual direct effect of the higher-order bounded rationality construct on business risk management effectiveness was not significant (β = 0.19), highlighting the importance of strategic decision quality as a mediating mechanism. These findings emphasize the importance of improving information quality and structured strategic decision processes under uncertainty. However, the cross-sectional design, purposive sampling, and reliance on perceptual measures limit causal inference and broader generalizability, while organizational learning culture was measured but not empirically tested as a moderator. This study extends Simon's bounded rationality framework by empirically linking cognitive, informational, temporal, and environmental constraints with business risk management effectiveness through strategic decision quality in an Indonesian organizational context.
Enterprise Risk Management, Agency Costs, and Financial Performance Volatility: Evidence from Indonesian Public Companies Andi Kusuma Negara; Dede Sunaryo; Lena Erdawati
Indonesian Journal of Business and Entrepreneurship Research Vol. 4 No. 3 (2026): Vol. 4, No. 3, August 2026: Indonesian Journal of Business and Entrepreneurship
Publisher : Department of Business and Entrepreneurship, Faculty of Economics and Business, Universitas Negeri Makassar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62794/ijober.v4i3.377

Abstract

This study investigates the relationship between Enterprise Risk Management (ERM) implementation, agency costs, and financial performance volatility among publicly listed companies on the Indonesia Stock Exchange (IDX). Using a balanced panel dataset of 57 IDX-listed companies during 2019–2023, resulting in 285 firm-year observations, this study employs fixed-effects panel regression with firm and year fixed effects and clustered standard errors at the firm level. ERM implementation is measured using a composite ERM Index developed based on the COSO 2017 framework, while financial performance volatility is assessed through the three-year rolling standard deviation of Return on Assets (ROA), Return on Equity (ROE), and Tobin’s Q. Agency costs are measured using the Agency Cost Index (ACI) as a mediating variable. The findings show that ERM implementation is negatively associated with agency costs (β = −0.374, p < .001), indicating that stronger ERM practices are related to lower agency-related inefficiencies. Furthermore, agency costs are positively associated with ROA volatility (β = 0.491, p < .001) and ROE volatility (β = 0.428, p < .001). The mediation analysis indicates that agency costs statistically mediate the relationship between ERM implementation and accounting-based financial performance volatility, as the direct effects of ERM on ROA and ROE volatility become insignificant after including ACI in the models. In addition, ERM implementation shows a direct negative association with Tobin’s Q volatility (β = −0.218, p < .01), although the agency-cost-mediated pathway for Tobin’s Q volatility is not examined in this study. These findings extend ERM literature by highlighting agency cost reduction as a potential mechanism through which ERM relates to organizational stability, particularly in an emerging-market context. The findings also suggest that firms should view ERM not only as a compliance practice but as a governance capability that supports monitoring, accountability, and financial stability. However, the observational panel design limits causal interpretation, and future research should employ stronger identification strategies and alternative agency cost measures to further examine these relationships.