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The Future of the Firm: A Comparative Institutional Analysis of Transaction Costs in DAOs versus Traditional Corporations Benyamin Wongso; Caelin Damayanti; Muhammad Faiz; Anies Fatmawati; Aylin Yermekova; Delia Tamim; Dais Susilo; Danila Adi Sanjaya; Gayatri Putri
Enigma in Economics Vol. 3 No. 2 (2025): Enigma in Economics
Publisher : Enigma Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61996/economy.v3i2.94

The emergence of Decentralized Autonomous Organizations (DAOs) presents a fundamental challenge to the traditional corporate form, which has dominated economic organization for over a century. Built on blockchain technology, DAOs propose a new model for coordinating economic activity. This study addressed the critical question of institutional efficiency by applying the lens of Transaction Cost Economics (TCE) to compare DAOs and traditional corporations. A comparative institutional analysis was conducted using a mixed-methods approach. We employed a multiple case study design, analyzing two representative DAOs and two analogous traditional corporations from Q1 2023 to Q4 2024. Data collection involved the systematic analysis of archival records, including 215 DAO governance proposals and corporate filings, and 32 semi-structured interviews with key participants. A novel analytical framework was developed to categorize transaction costs into ex ante (search, bargaining) and ex post (monitoring, enforcement), further distinguishing between 'on-chain' and 'off-chain' costs. The study revealed significant trade-offs between the two organizational forms. Traditional corporations exhibited high ex ante bargaining costs (legal, negotiation) and ex post monitoring costs (managerial overhead), but benefited from established legal frameworks that reduced enforcement uncertainty. Conversely, DAOs significantly lowered specific transaction costs through automation via smart contracts, particularly in on-chain bargaining and enforcement for codified tasks. However, DAOs incurred substantial, often hidden, new transaction costs related to off-chain social coordination, governance participation, and navigating legal ambiguity. This was termed the 'Governance Overhead Paradox'. In conclusion, DAOs do not represent a universally superior organizational form but rather a new point on an institutional possibility frontier. They are highly efficient for tasks that are global, permissionless, and computationally verifiable. Traditional firms retain advantages in contexts requiring complex, subjective decision-making and legal certainty. The future of the firm is likely not a replacement of one form by the other, but a pluralistic ecosystem where hybrid models emerge.

Empowering Educators, Supporting Students: A Quasi-Experimental Evaluation of a Train-the-Trainer Model for School Mental Health in Indonesia Ahmad Badruddin; Omar Alieva; Ifah Shandy; Henny Kesuma; Benyamin Wongso; Winata Putri; Habiburrahman Said
Indonesian Community Empowerment Journal Vol. 5 No. 2 (2025): Indonesian Community Empowerment Journal
Publisher : HM Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37275/icejournal.v5i2.49

Adolescent mental health is a pressing concern in urban Indonesian schools, where a significant gap exists between student needs and the availability of professional support. This study evaluated the efficacy of a culturally-adapted, school-based "Train-the-Trainer" (TtT) community service model designed to build sustainable mental health support capacity by empowering teachers. A quasi-experimental study with a matched control group was conducted in 20 public high schools in South Sumatera, Indonesia. Ten schools (n=150 teachers, n=1500 students) received the TtT intervention, where core teachers were trained to cascade mental health literacy and foundational support skills to their peers. Ten matched schools (n=145 teachers, n=1450 students) served as a control group. Data on teacher self-efficacy, student-reported support awareness, and school mental health policies were collected at baseline, 6-months, and 12-months. A linear mixed-effects model revealed a significant time-by-group interaction, with teachers in the intervention group reporting substantially higher confidence in supporting students at 12 months (M=4.15, 95% CI [4.01, 4.29]) compared to the control group (M=2.51, 95% CI [2.37, 2.65]), a large effect (d=2.41). Intervention students were significantly more likely to know how to access support (78% vs. 27%; OR=9.82, 95% CI [8.11, 11.89], p < 0.001). Intervention schools demonstrated a massive increase in formalized mental health protocols compared to control schools (IRR=7.94, p < 0.001). In conclusion, the TtT model is a highly effective and scalable strategy for building a foundational mental health support system within existing school structures in resource-constrained settings. By investing in local educators, this model fosters a sustainable, multi-tiered support ecosystem, offering a viable pathway for national policy and practice in Indonesia.

Governing the Commons in the Anthropocene: A Quantitative and Qualitative Assessment of Sasi Customary Law's Efficacy in Marine Conservation and Climate Resilience in the Maluku Islands Grace Freya Purba; Farah Faiza; Evelyn Wang; Aaliyah El-Husaini; Benyamin Wongso; Sarah Armalia
Enigma in Law Vol. 3 No. 1 (2025): Enigma in Law
Publisher : Enigma Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61996/law.v3i1.97

The escalating pressures of the Anthropocene, characterized by climate change and biodiversity loss, demand effective and equitable conservation paradigms. This study investigates Sasi, a form of customary marine tenure in the Maluku Islands, Indonesia, as a potential model for sustainable resource management and climate resilience. A mixed-methods, comparative longitudinal approach was employed across six coastal villages from 2015 to 2025. Three villages actively practicing Sasi were compared with three non-Sasi control villages. Quantitative data included underwater visual censuses for fish biomass, line-intercept transects for coral cover, and household surveys (n=300) to assess socio-economic conditions and climate resilience indicators. Qualitative data were gathered through semi-structured interviews with key stakeholders (n=60), focus group discussions (n=12), and participant observation to understand the governance mechanisms and community perceptions of Sasi. Sasi villages exhibited significantly higher mean fish biomass (4.5 ± 0.8 t/ha) compared to non-Sasi villages (1.9 ± 0.6 t/ha) (p<0.001). Live coral cover was more robust in Sasi sites, showing greater resistance to bleaching events. Socio-economically, Sasi communities reported higher, more stable fishing incomes and perceived greater food security. Qualitative analysis revealed that the efficacy of Sasi is driven by strong social cohesion, legitimate authority of the Kewang (customary guardians), and adaptive management informed by traditional ecological knowledge. In conclusion, the findings demonstrate that Sasi customary law is a highly effective institution for marine conservation, contributing significantly to ecological health and community climate resilience. The study underscores the critical importance of integrating customary governance systems into national and global conservation strategies to address the complex challenges of the Anthropocene.

Governing the Algorithm: A Mediation Analysis of Digital Transformation, Bureaucratic Discretion, and Service Quality in a Developing Democracy Emir Abdullah; Aylin Yermekova; Benyamin Wongso; Ahmad Badruddin
Open Access Indonesia Journal of Social Sciences Vol. 8 No. 4 (2025): Open Access Indonesia Journal of Social Sciences
Publisher : HM Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37275/oaijss.v8i4.293

Governments worldwide are implementing digital transformation policies to enhance public service delivery. However, the impact of these algorithm-driven systems on street-level bureaucrats remains critically under-examined. This study investigates the complex pathways through which Indonesia's e-government policy affects bureaucratic work and service outcomes. This study employed a mixed-methods explanatory sequential design. Quantitative data were collected from 500 public officials across five Indonesian provinces. An E-Government Implementation Index (EGII) was constructed. We used Ordinary Least Squares (OLS) regression and a formal mediation analysis with bootstrapping to analyze the relationships between EGII, Perceived Bureaucratic Discretion (PBD), and Bureaucrat-Perceived Public Service Quality (B-PSQ). This was supplemented by 20 in-depth, semi-structured interviews to explain the statistical findings. Regression analysis confirmed a significant negative association between EGII and PBD (β = -0.47, p < 0.001) and a significant positive association between EGII and B-PSQ (β = 0.62, p < 0.001). The mediation analysis revealed that EGII has a strong, positive direct effect on B-PSQ (Effect = 0.57, p < 0.001) and a small but significant negative indirect effect through the reduction of PBD (Effect = -0.05, p < 0.01). Qualitative data revealed that officials feel constrained by "algorithmic cages" that, while improving efficiency, limit their ability to handle exceptional cases, thereby risking service equity for marginalized citizens. In conclusion, Indonesia’s digital transformation presents a complex trade-off. It successfully enhances administrative efficiency but simultaneously curtails the beneficial discretion of frontline bureaucrats, creating a small but significant drag on service quality. Effective digital governance requires a hybrid model that embeds algorithmic systems within a framework that empowers, rather than replaces, human judgment.

Governing the Algorithm: A Mediation Analysis of Digital Transformation, Bureaucratic Discretion, and Service Quality in a Developing Democracy Emir Abdullah; Aylin Yermekova; Benyamin Wongso; Ahmad Badruddin
Open Access Indonesia Journal of Social Sciences Vol. 8 No. 4 (2025): Open Access Indonesia Journal of Social Sciences
Publisher : HM Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37275/oaijss.v8i4.293

Governments worldwide are implementing digital transformation policies to enhance public service delivery. However, the impact of these algorithm-driven systems on street-level bureaucrats remains critically under-examined. This study investigates the complex pathways through which Indonesia's e-government policy affects bureaucratic work and service outcomes. This study employed a mixed-methods explanatory sequential design. Quantitative data were collected from 500 public officials across five Indonesian provinces. An E-Government Implementation Index (EGII) was constructed. We used Ordinary Least Squares (OLS) regression and a formal mediation analysis with bootstrapping to analyze the relationships between EGII, Perceived Bureaucratic Discretion (PBD), and Bureaucrat-Perceived Public Service Quality (B-PSQ). This was supplemented by 20 in-depth, semi-structured interviews to explain the statistical findings. Regression analysis confirmed a significant negative association between EGII and PBD (β = -0.47, p < 0.001) and a significant positive association between EGII and B-PSQ (β = 0.62, p < 0.001). The mediation analysis revealed that EGII has a strong, positive direct effect on B-PSQ (Effect = 0.57, p < 0.001) and a small but significant negative indirect effect through the reduction of PBD (Effect = -0.05, p < 0.01). Qualitative data revealed that officials feel constrained by "algorithmic cages" that, while improving efficiency, limit their ability to handle exceptional cases, thereby risking service equity for marginalized citizens. In conclusion, Indonesia’s digital transformation presents a complex trade-off. It successfully enhances administrative efficiency but simultaneously curtails the beneficial discretion of frontline bureaucrats, creating a small but significant drag on service quality. Effective digital governance requires a hybrid model that embeds algorithmic systems within a framework that empowers, rather than replaces, human judgment.

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