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STRATEGIC FACTORS OF BANK SUSTAINABILITY: INSIGHTS FOR DEVELOPING COUNTRIES Yanti, Mal Isnaini Sri Mey; Setyo, Riyanto; Indra, Siswanti; sugiyono
Journal of Central Banking Law and Institutions Vol. 4 No. 2 (2025)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jcli.v4i2.420

The banking sector is vital to sustainable development, yet integrating sustainability into banking strategies remains challenging, particularly in developing countries with limited resources. This study systematically reviews key strategic factors driving banking sustainability and the challenges and opportunities specific to emerging markets. The PRISMA protocol collected articles from Scopus and Web of Science (1990–2024), providing 98 content-analysis articles. The findings reveal an increasing focus on banking sustainability after adopting the UN Responsible Banking Principles in 2019. Content analysis identified six main strategic factors: organisational capital, bank specialisation capability, innovative technology capability, market capability, institutional capability, and ESG capability. These insights offer valuable guidance for bankers, policymakers, and researchers in shaping sustainable banking strategies. While limited to literature-based data, this study provides a foundation for future empirical research and context-specific applications.

Determinants of Financial Distress with Institutional Ownership as a Moderating Variable in the Telecommunications Industry in Indonesia Suhardian, Edward; Siswanti , Indra
Enrichment: Journal of Multidisciplinary Research and Development Vol. 3 No. 5 (2025): Enrichment: Journal of Multidisciplinary Research and Development
Publisher : International Journal Labs

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55324/enrichment.v3i4.436

Indonesia's telecommunications sector serves as a key catalyst for economic growth and technological advancement in the era of globalization and Industry 4.0, with digital transformation acting as the primary force behind these changes. This study aims to analyze the influence of leverage, profitability, sales growth, and corporate social responsibility on financial distress. Furthermore, this research seeks to evaluate the role of institutional ownership as a moderating variable in affecting the relationship between these factors and financial distress. The method used in this study is Moderated Regression Analysis (MRA) with E-Views 12 software. The population in this study consists of 22 telecommunication companies listed on the Indonesia Stock Exchange during the 2019-2023 period and the sampling technique used is purposive sampling. The results show that leverage, profitability, sales growth has a significant negative effect on financial distress, while corporate social responsibility do not affect financial distress. Institutional ownership can moderate the influence of leverage and sales growth on financial distress but cannot moderate the effect of profitability and corporate social responsibility on financial distress.

ECONOMIC ANALYSIS AND FACTORS INFLUENCING CUSTOMER SATISFACTION AND ELECTRICITY PURCHASE DECISIONS IN A CASE STUDY AT PT. PLN IN INDONESIA Rio Afrianda; Veithzal Rivai Zainal; Indra Siswanti; Lenny Christina Nawangsari
INTERNATIONAL JOURNAL OF ECONOMIC LITERATURE Vol. 1 No. 10 (2024): INTERNATIONAL JOURNAL OF ECONOMIC LITERATURE (INJOLE)
Publisher : Adisam Publisher

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This research aims to explore the factors that impact customer satisfaction and purchasing decisions among PT PLN (Persero) electricity consumers across Indonesia. A sample of 70 consumers was surveyed using a questionnaire to collect data. The analysis utilized linear regression through SPSS Statistics, considering variables such as product, price, distribution channel, promotion, and service quality as independent, intervening, and dependent factors. The study uncovered several significant findings: firstly, both price and service quality play crucial roles in influencing customer satisfaction. Secondly, distribution channels and customer satisfaction notably affect PT PLN (Persero)'s electricity purchasing decisions in Indonesia. Thirdly, collectively, products, prices, distribution channels, promotions, and service quality contribute to customer satisfaction, consequently impacting PT PLN (Persero)'s electricity purchasing decisions across these regions. Particularly noteworthy is the introduction of a novel model depicting the relationship between promotional activities promoting electricity conservation, customer satisfaction, and purchasing decisions. The implications of this research are expected to aid electricity management and industry professionals in enhancing customer satisfaction and guiding PT PLN (Persero)'s electricity purchasing decisions in Indonesia. Furthermore, it could serve as a valuable resource for future research endeavors and corporate decision-making processes.

ECONOMIC ANALYSIS AND FACTORS INFLUENCING CUSTOMER SATISFACTION AND ELECTRICITY PURCHASE DECISIONS IN A CASE STUDY AT PT. PLN IN INDONESIA Rio Afrianda; Veithzal Rivai Zainal, Indra Siswanti, Lenny Christina Nawangsari
INTERNATIONAL JOURNAL OF ECONOMIC LITERATURE Vol. 1 No. 11 (2024): INTERNATIONAL JOURNAL OF ECONOMIC LITERATURE (INJOLE)
Publisher : Adisam Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar

This research aims to explore the factors that impact customer satisfaction and purchasing decisions among PT PLN (Persero) electricity consumers across Indonesia. A sample of 70 consumers was surveyed using a questionnaire to collect data. The analysis utilized linear regression through SPSS Statistics, considering variables such as product, price, distribution channel, promotion, and service quality as independent, intervening, and dependent factors. The study uncovered several significant findings: firstly, both price and service quality play crucial roles in influencing customer satisfaction. Secondly, distribution channels and customer satisfaction notably affect PT PLN (Persero)'s electricity purchasing decisions in Indonesia. Thirdly, collectively, products, prices, distribution channels, promotions, and service quality contribute to customer satisfaction, consequently impacting PT PLN (Persero)'s electricity purchasing decisions across these regions. Particularly noteworthy is the introduction of a novel model depicting the relationship between promotional activities promoting electricity conservation, customer satisfaction, and purchasing decisions. The implications of this research are expected to aid electricity management and industry professionals in enhancing customer satisfaction and guiding PT PLN (Persero)'s electricity purchasing decisions in Indonesia. Furthermore, it could serve as a valuable resource for future research endeavors and corporate decision-making processes.

IMPLEMENTATION OF STRATEGIC ORGANIZATION CHANGE MANAGEMENT, CLEAN CORPORATE GOVERNANCE, TRANSFORMATIONAL LEADERSHIP IN ELECTRICITY COMPANIES IN INDONESIA Rio Afrianda; Veithzal Rivai Zainal, Indra Siswanti, Lenny Christina Nawangsari
INTERNATIONAL JOURNAL OF ECONOMIC LITERATURE Vol. 1 No. 11 (2024): INTERNATIONAL JOURNAL OF ECONOMIC LITERATURE (INJOLE)
Publisher : Adisam Publisher

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This study explores the sustainability trends within Indonesian power companies, particularly their shift towards renewable energy mix. Employing a strategic management perspective, this research investigates the impact of strategic organizational change management, clean corporate governance, and transformational leadership on business performance mediated by the core values of the state-owned enterprise AKHLAK (Adaptive, Collaborative, Competent, Harmonious, Loyal, and Trustworthy). The study conducted at PT PLN Nusantara Power, utilizing a non-experimental quantitative approach. The data were analyzed using Structural Equation Modeling (SEM) with LISREL 8.8. The study revealed that 'organizational strategic change management' and 'clean corporate governance and transformational leadership' had positive but non-statistically significant effects on business performance. How- ever, the Core Values AKHLAK played a significant mediating role between these factors and business perfor- mance. This underscores the importance of these values in shaping sustainability outcomes. The study recommends integrating AKHLAK values to enhance the benefits of strategic management, contributing to discussions on sus- tainable practices during Indonesia's renewable energy transition.

Spiritual Leadership, Sustainable SMEs, and Economic Resilience in Asian Emerging Economies Samrotul Janiah; Indra Siswanti; Agus Arijanto; Anik Herminingsih
Jurnal Lemhannas RI Vol 13 No 3 (2025)
Publisher : Lembaga Ketahanan Nasional Republik Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55960/jlri.v13i3.1288

Purpose: This study examines the role of spiritual leadership in strengthening the sustainable performance and economic resilience of MSMEs in emerging Asian economies facing post-pandemic shocks, climate risks, and increasing ESG regulations. Within a TSR–Maqasid Sharia framework, it explores the relationships between spiritual leadership and workplace spirituality, innovative work behaviour, organisational citizenship behaviour (OCB), and crisis responsiveness.Study Design/Methodology/Approach: The study adopts a structured narrative literature review, synthesising scholarly articles, institutional reports (ADB, OECD, World Bank, ASEAN), and practitioner documents. Data are analysed using content and thematic approaches guided by Tawhid String Relation (TSR) and Maqasid Syariah to integrate vertical (habluminallah) and horizontal (habluminannas) dimensions into MSME practices. Findings: Findings indicate that spiritual leadership – through vision, hope/faith, altruistic love, meaningful work, and sense of community – positively enhances MSME resilience by fostering intrinsic motivation, workplace spirituality, OCB, innovation, and crisis responsiveness. Sustainable performance is framed within the Prophetic Economy (Quad P: Prophet, Profit, People, Planet), aligning with Maqasid Sharia principles. In this regard, the Asta Gatra perspective can be used to show that MSME resilience is shaped by both natural and social dimensions, so spiritual leadership strengthens not only internal values but also the broader strategic capacity of the business. Originality/Value: This study contributes by extending Spiritual Leadership Theory within TSR and Maqasid Sharia paradigms, positioning spirituality as a strategic nonmaterial asset to achieve falah, sustainability, and long-term competitiveness under ESG pressures.

Financial Resilience as Mediator in ESG Risk Rating, Leverage and Profitability Toward Firm Value Rini Mulyasari; Indra Siswanti
Enrichment: Journal of Multidisciplinary Research and Development Vol. 3 No. 11 (2026): Enrichment: Journal of Multidisciplinary Research and Development
Publisher : International Journal Labs

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55324/enrichment.v3i11.619

This study examines the effects of ESG Risk Rating, leverage, and profitability on firm value, and tests whether financial resilience (Economic Value Added/EVA) mediates these relationships among firms in the IDX ESG Leaders index during 2020–2024. The study employs quantitative panel-data regression with purposive sampling and balanced panel observations. Model selection is conducted using Chow, Hausman, and Lagrange Multiplier (LM) tests. Mediation is tested using the Sobel test. ESG Risk Rating, leverage, and profitability significantly affect firm value. ESG Risk Rating and leverage significantly affect EVA, while profitability does not significantly affect EVA. EVA significantly affects firm value. Sobel results confirm that EVA mediates the effects of ESG Risk Rating and leverage on firm value, but does not mediate profitability’s effect on firm value. Financial resilience (EVA) functions as an intervening mechanism for ESG Risk Rating and leverage in explaining firm value in IDX ESG Leaders firms, while profitability influences firm value primarily through direct effects rather than via EVA.

Optimizing Social Media Marketing Strategies to Improve The Business Sustainability of MSMEs Lies Hendrawan Krisnawati; Indra Siswanti; Yanto Ramli; Cristina Catur Widayati
Amkop Management Accounting Review (AMAR) Vol. 6 No. 1 (2026): January - June
Publisher : Sekolah Tinggi Ilmu Ekonomi Amkop Makassar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37531/amar.v6i1.3558

Social media marketing strategies are a key element in maintaining and improving the sustainability of Micro, Small, and Medium Enterprises (MSMEs) businesses. The research, in the form of a Systematic Literature Review (SLR) PRISMA, used a Boolean search using PICO and SPIDER and identified 2446 initial articles from international journals (Scopus, ScienceDirect, Springer, Wiley, IEEE, Web of Science, and Google Scholar). The data was omitted, so that the final results were 32 journals. Bibliomatrix analysis, in the form of Vos Viewer, along with Inclusion, Exclusion, and Quality Criteria. Research shows that social media marketing strategies significantly improve MSME sustainability through customer engagement, relevant content, and the integration of adaptive digital technologies. The theoretical benefits of formulating social media relationships, which are helpful in the academic world, and the practical benefits of this approach as a digital strategy for MSME actors, as well as its implications for government and policy, for transformation recommendations.

Determinants to Enhance the Sustainable Business of Islamic Banks: A Comprehensive Review for Future Research Agenda Mohammad Yamin; Indra Siswanti; Augustina Kurniasih; Yudhi Herliansyah
Amkop Management Accounting Review (AMAR) Vol. 6 No. 1 (2026): January - June
Publisher : Sekolah Tinggi Ilmu Ekonomi Amkop Makassar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37531/amar.v6i1.3669

The sustainability of Islamic banks has received growing scholarly attention; however, its long-term determinants remain theoretically fragmented across governance, risk, innovation, and ethical domains. This systematic literature review synthesizes 68 peer-reviewed articles published between 2021 and 2025 to critically consolidate the structural drivers of sustainable business in Islamic banking. Addressing five interrelated research questions, the findings demonstrate that sustainability does not depend on isolated financial indicators. Rather, it emerges from the systemic interaction between internal governance mechanisms particularly Islamic corporate governance, operational efficiency, and innovation capacity and external institutional pressures, including environmental regulation, market dynamics, and alignment with the Sustainable Development Goals (SDGs). The literature shows persistent analytical fragmentation and limited operational integration between global sustainability standards and Islamic ethical objectives. Digital transformation has become an increasingly important strategic enabler, yet it remains institutionally secondary to governance, corporate social responsibility, and sustainable financing factors. Risk management, especially financing risk, consistently underpins long-term stability, while evidence on capital adequacy and liquidity remains inconclusive. By proposing an integrated sustainability architecture linking financing risk, green financing, digital transformation, Islamic corporate governance, and environmental regulation, this study reframes the discourse and offers a theoretically grounded basis for future empirical and policy development.

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