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Marketing Innovation as a Catalyst for Clean Energy Technology Diffusion: A Quantitative Analysis of Market Penetration Strategies Nur Endah Retno Wuryandari; Setiyo Purwanto; Ari Apriani
Dinasti International Journal of Economics, Finance & Accounting Vol. 5 No. 5 (2024): Dinasti International Journal of Economics, Finance & Accounting (November - De
Publisher : Dinasti Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.38035/dijefa.v5i5.3434

Abstract

Although the global transition to clean energy has become a priority, the diffusion of clean energy technologies still faces significant challenges, especially in terms of market penetration. Marketing innovation is emerging as a potential catalyst for accelerating adoption, but quantitative understanding of its impact is still limited. This study aims to quantitatively analyze the influence of marketing innovation on the diffusion of clean energy technology, with a focus on market penetration among the millennial generation in Jakarta. Using a cross-sectional research design, data was collected through an online survey of 150 millennial respondents, adapting a structured questionnaire from previous studies. Data analysis was carried out using Structural Equation Modeling with the Partial Least Squares (SEM-PLS) approach to test the relationship between marketing innovation variables, consumer awareness, adoption intentions, and clean energy technology market penetration. The results of the research are expected to provide valuable insights for industry players and policymakers in designing effective marketing strategies to accelerate the adoption of clean energy technologies, as well as contributing to the academic literature on innovation diffusion in the context of the energy transition.
The Fintech Paradox: Re-evaluating Financial Technology Adoption, Investment Efficiency, and Firm Size in an Emerging Market Setiyo Purwanto; Nur Endah Retno Wuryandari; Masatsugu Nemoto; Kristiana Widiawati
Ilomata International Journal of Management Vol. 7 No. 4 (2026): October 2026
Publisher : Yayasan Sinergi Kawula Muda

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61194/ijjm.v7i4.2382

Abstract

While the rapid expansion of financial technology (fintech) promises enhanced corporate valuation and investment efficiency, its value-creating potential within capital-intensive real sectors remains empirically contested. Addressing this critical gap, this study investigates the impact of fintech adoption on firm value among manufacturing enterprises in an emerging market, evaluating investment efficiency as a mediating mechanism and firm size as a boundary condition. Utilizing a balanced panel dataset of 162 manufacturing firms listed on the Indonesia Stock Exchange yielding 324 firm-year observations from the 2022–2024 period after applying a lagged model design this study employs a Two-Way Fixed Effects (TWFE) regression framework to mitigate unobserved firm and time heterogeneity. Contrary to prevailing digital optimism, the empirical findings reveal the existence of a "Fintech Paradox": digital financial integration fails to exert a statistically significant direct effect on market valuation (Tobin’s Q) or significantly optimize capital allocation. Consequently, the hypothesized mediation paths are broken. Furthermore, firm size does not positively moderate this relationship; rather, a larger organizational scale exerts a direct, negative pressure on firm value. These findings demonstrate that within rigid, large-scale manufacturing environments, bureaucratic inertia and massive physical adjustment costs temporarily neutralize the theoretical benefits of financial digitization. Ultimately, this study cautions that fintech adoption is not a universal value driver and requires fundamental organizational agility to succeed in capital-intensive sectors.