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Resilience of Indonesian Stock Market to Fed Policy

Rahmat, Muhammad Rijal Alim, Burhamzah, Rahmat
Abstract: This study conducts a bibliometric analysis of literature (2015-2025) on Indonesian stock market resilience to Federal Reserve monetary policy shocks. Data were collected from Google Scholar using Publish or Perish 8 with… h relevant keywords. A total of 82 publications with 476 citations (h-index = 9) were identified. VOSviewer was used for bibliometric analysis to map keyword co-occurrence in titles and abstracts. Network visualization revealed three dominant clusters: (1) Federal Reserve monetary policy and capital flow spillovers, (2) market volatility and investor behavior, and (3) financial resilience and domestic policy responses. The overlay timeline indicated a shift from spillover and volatility issues in mid-decade to resilience topics in recent years. The literature suggests that while the Indonesian stock market remains sensitive to Fed rate changes, it has shown growing resilience due to proactive domestic policy interventions

Product Differentiation Strategy at Nhanas Donuts Pinrang in Facing Culinary Business Competition in the Millennial and Gen Z Era

Kurniawaty, Yusrianti, Trisnasari, Damayanti, Astuti, Yayuk
Abstract: This study aims to analyze the product differentiation strategy implemented by Nhanas Donuts Pinrang in facing culinary business competition in the millennial and Gen Z era. The research method used is descriptive qualitative… ative with data collection techniques through interviews, observation, and documentation. Informants consisted of the owner, production and service employees, as well as millennial and Gen Z consumers. The results showed that the product differentiation strategy applied includes four main aspects: flavor innovation with contemporary variants (matcha cheese, red velvet crumble, cookies and cream), attractive and "instagrammable" visual display, aesthetic and modern packaging design, as well as active digital marketing through Instagram, Facebook, and TikTok. Supporting factors for the success of differentiation include the owner's creativity, understanding of young consumer behavior, strategic location, and digital branding. The implications of this study indicate that product differentiation integrated with digital marketing is able to increase competitiveness and customer loyalty of local culinary Micro, Small, and Medium Enterprises in the digital era.

The Effect Of Increasing Servicescape And Modernizing Petrol Station Services On Pertamax Series Purchase Decisions Through Perceived Value

Suganda, Surya, Soetjipto, Budi Eko, Churiyah, Madziatul
Abstract: This study aims to analyze the effect of increasing servicescape and modernization of Public Fuel Filling Station (SPBU) services on the purchase decision of Pertamax Series products with perceived value as a mediating variable.… ariable. This study uses a Systematic Literature Review (SLR) approach combined with bibliometric analysis to identify, map, and synthesize relevant research developments related to the quality of the service environment, modernization of fuel retail services, perceived value by consumers, and purchasing decisions. Research data was obtained from various reputable scientific articles indexed in academic databases such as Scopus and Google Scholar with a range of publications of the last ten years. The literature selection process is carried out systematically through the stages of identification, screening, feasibility, and inclusion using the PRISMA guidelines. Bibliometric analysis is used to map research trends, author collaboration, and keyword linkages analyzed using VOSviewer software. The results of the study show that increasing servicescape such as facility comfort, cleanliness, physical design, and the availability of supporting facilities is able to increase consumer perception of gas station services. In addition, service modernization through payment digitalization, self-service systems, and technology-based service innovations also strengthen customer experience. The combination of these two factors has been proven to increase perceived value which ultimately encourages consumers to make a decision to purchase Pertamax Series products. The findings of this study make a conceptual contribution to the development of a study of consumer behavior in the energy retail sector and provide practical implications for petrol station managers in designing strategies to improve service quality and modernize facilities to increase consumer preference for high-quality fuels.

The Effect Of Ease Of Use And Product Safety On Increased Sales Through Customer Satisfaction: Systematic Literature Review (SLR)

Fazri, Narotama Aulia, Soetjipto, Budi Eko, Churiyah, Madziatul
Abstract: This study aims to systematically analyze the influence of ease of use and product safety on sales increase with customer satisfaction as a mediating variable through a Systematic Literature Review (SLR) approach combined… d with bibliometric analysis. The research method uses a qualitative-descriptive approach with SLR techniques to identify, select, and analyze relevant scientific articles from various academic databases in a given publication period. The literature selection process is carried out through the stages of identification, screening, eligibility, and inclusion so that a number of articles that meet the inclusion criteria are obtained. Bibliometric analysis is used to map research trends, author collaborations, and developments on topics related to ease of use, product safety, customer satisfaction, and sales improvement. The results of the study show that the ease of use of products or services contributes significantly to the perception of value and customer comfort in using the product, which ultimately increases the level of satisfaction. In addition, product safety is also an important factor that affects customer trust so as to strengthen consumer satisfaction and loyalty. Customer satisfaction has been shown to play a role as a mediating variable that strengthens the relationship between ease of use and product safety to increased sales. The findings of this study confirm that companies need to optimize aspects of ease of use and product safety as a strategy to increase customer satisfaction and encourage sustainable sales growth. This study also makes theoretical and practical contributions in the development of marketing literature and consumer management, especially related to the integration of SLR approaches and bibliometric analysis in understanding the dynamics of factors that influence sales increases.

The Role of Entrepreneurship Courses in Shaping Students' Business Character and Interests in the Digital Era (Case Study of STIMI YAPMI Makassar Students Class of 2023)

Adrianah, Adrianah, Sari, Rukmana, Nginang, Yusra, Hawania, Siti
Abstract: This research aims to analyze the role of the Entrepreneurship Course (MK) in shaping entrepreneurial character and fostering business interest in STIMI YAPMI Makassar Class of 2023 students in the midst of the challenges… s of the digital era. The research method used was qualitative descriptive with data collection techniques through observation, interviews, and questionnaires of 30 respondents. The results of the study show that MK Entrepreneurship makes a significant contribution (90%) in increasing self-efficacy and student courage in taking business risks. In the context of interest, as many as 83% of respondents stated that they were interested in building a digital-based business, especially through social commerce platforms  and  digital resellers. However, the main obstacles found are limited financial capital and the need for technical assistance related to advanced digital marketing. In conclusion, entrepreneurship education at STIMI YAPMI Makassar has succeeded in building a strong character foundation, but it is necessary to strengthen the business incubation aspect so that students' interests can be realized into sustainable business units.

Factors Driving Purchase Intention of Reject Fashion Products at Factory Outlets: An Empirical Study in Makassar, Indonesia

Ridha, Achmad, Anastasya, Lidya
Abstract: This study investigates factors driving purchase intention toward reject fashion products at factory outlets in Makassar, Indonesia. Reject products garments that fail manufacturer quality control standards but are sold… legally at discounted prices represent an underexplored segment of circular fashion consumption. Drawing on the Theory of Planned Behavior and the Value-Based Adoption Model, this study tests a structural model in which four antecedents defect transparency, price perception, environmental consciousness, and store reputation influence purchase intention through the mediating role of perceived value. A quantitative survey was conducted with 250 consumers who visited factory outlets in Makassar. Data were analyzed using PLS-SEM via SmartPLS 4.0. Common Method Bias was confirmed absent using Harman's Single Factor Test and Full Collinearity VIF. Results indicate that all four antecedents positively influence perceived value, which strongly predicts purchase intention. Price perception is the dominant driver, followed by store reputation, environmental consciousness, and defect transparency. Perceived value fully mediates the effect of defect transparency and partially mediates the remaining three antecedents. These findings contribute to circular fashion consumer behavior literature and offer practical guidance for factory outlet operators in Eastern Indonesia.

The Effect of Work Discipline and Cooperation On Performance Through The Work Environment as a Mediating Variable

Pratiwi, Annisa Eka, Sahabuddin, Romansyah, Musa, Muh. Ichwan, Burhanuddin, Natsir, Uhud Darmawan
Abstract: This study analyzes the influence of work discipline and cooperation on employee performance and the role of the work environment as a mediating variable in employees of the Gowa Regency Regional Revenue Unit Samsat. Using… ng a quantitative approach with an associative design, data were collected through questionnaires to 46 respondents and analyzed using SEM-PLS to assess the validity, reliability, and structural relationships between variables. The results of the study show that work discipline and cooperation have a positive effect on the work environment, as well as have a significant direct influence on employee performance. The work environment has also been shown to have a positive effect on performance and mediates the relationship between work discipline and cooperation and performance. These findings confirm that employee performance improves optimally when discipline and cooperation are supported by a conducive work environment

The Role of Management Accounting Systems in Improving the Performance of Culinary MSMEs: Moderation of Sustainability Reporting

Hasdiansa, Ilma Wulansari
Abstract: This study aims to analyze the influence of management accounting systems on the performance of culinary MSMEs and test the role of sustainability reporting as a moderation variable. The research uses a quantitative approach… oach with a survey method of 100 culinary MSMEs operating in the central area of Makassar City. Data were collected through a questionnaire with a Likert scale and analyzed using Structural Equation Modeling based on Partial Least Squares (PLS-SEM). The results of the study show that the management accounting system does not have a significant effect on business performance. This indicates that most MSMEs still do not make optimal use of accounting information in decision-making. Meanwhile, sustainability reporting has been proven to have a positive and significant influence on business performance. However, sustainability reporting is not able to moderate the relationship between management accounting systems and business performance. These findings show that sustainability practices have a more direct role in improving the performance of MSMEs compared to management accounting systems that have not been implemented effectively. This research contributes to the development of management and sustainability accounting literature, as well as provides practical implications for MSME actors in improving business performance through the integration of information systems and sustainable business practices.

Digitalization and Financial Inclusion as an MSMe Business Sustainability Strategy: A Case Study In The Food and Beverage Sector

Fitriyani, Ika, Fietroh, Muhammad Nur, Sumbawati, Novi Kadewi, Ismawati, Kamal, Afina Aurellya, Yuliana
Abstract: This study aims to analyze the role of digitalization and financial inclusion of Micro, Small, and Medium Enterprises (MSMEs) as business sustainability strategies. Digital transformation and inclusive financial access are… re important factors in increasing the competitiveness of MSMEs in the digital economy era. This research uses a qualitative approach with a case study method on MSMEs in the food and beverage sector. Data collection was carried out through in-depth interviews, observations, and documentation, while data analysis used thematic analysis techniques. The results show that digitalization contributes to improving operational efficiency, expanding market access through digital platforms, and strengthening relationships with customers. On the other hand, financial inclusion facilitates access to formal financial services, such as financing and digital payment systems, thereby supporting more professional business management. The synergy between digitalization and financial inclusion has proven to be able to increase the innovation capacity and productivity of MSMEs, which ultimately encourages business transformation towards a higher scale. However, there are several obstacles faced, such as low digital and financial literacy and limited access to infrastructure. Therefore, support from various parties is needed through training, mentoring, and policies that support the empowerment of MSMEs in a sustainable manner

Wardah's Digital Marketing Strategy through Islamic Branding, Influencer Marketing, and Flash Sale Programs to Increase Online Shopping Decisions on the Shopee Platform

Musa, Chalid Imran, Azhari, Azlan, Parinsi, Kristina
Abstract: The rapid growth of digital technology and e-commerce has transformed consumer behavior, particularly in online beauty product purchases. This study aims to examine the influence of Islamic Branding, Influencer Marketing,… , and Flash Sale on online shopping decisions for Wardah beauty products on Shopee. Using a quantitative approach, data were collected from 100 respondents in Makassar who had purchased Wardah products online. The data were analyzed using multiple linear regression with SPSS 26. The results indicate that Islamic Branding, Influencer Marketing, and Flash Sale each have a positive and significant effect on online shopping decisions. Simultaneously, these three variables contribute 51% to consumer purchasing decisions, showing that a combination of religiosity-based branding, social influence, and urgency-driven promotion effectively encourages consumer purchases. The findings suggest that integrating Islamic values with digital marketing strategies enhances consumer trust and purchase intention in the halal beauty market.