TECHNOBIZ : International Journal of Business

Analisis Penggunaan Model Bisnis E-Commerce Online-to-Offline (O2O) Terhadap Efektivitas Bagi UMKM Gupil Clothes Di Kota Metro

Ilham Setio Wibowo — 2026-04-30

Digitalisasi membuat e-commerce menjadi platform penting yang memungkinkan UMKM mengakses pasar global. Sebuah penelitian telah menunjukkan bahwa penggunaan e-commerce sangat penting untuk meningkatkan penjualan dan pemasaran produk perusahaan kecil dan menengah (UMKM). Namun, penggunaan teknologi parsial seringkali membuat UMKM berada dalam posisi yang kurang baik; transaksi online seringkali tidak menciptakan kepercayaan atau kepuasan yang sama seperti interaksi fisik. Model Bisnis Online-to-Offline (O2O) adalah strategi pemasaran baru yang berfokus pada pemanfaatan platform online (seperti aplikasi, media sosial, atau situs web) untuk menarik pelanggan untuk layanan, pembelian, atau pengalaman di toko fisik (offline). Model O2O muncul sebagai tanggapan terhadap tantangan integrasi antara dunia digital dan fisik. Online-to-Offline (O2O) adalah pendekatan penting yang berfungsi untuk menghubungkan saluran penjualan digital dengan saluran fisik. Laporan ini mengintegrasikan wawasan umum dengan konteks spesifik di Provinsi Lampung, yang relevan untuk pengembangan UMKM, terutama di Kota Metro, dengan berfokus pada efektivitas dan komponen yang memengaruhi keberhasilan. Studi awal menunjukkan bahwa strategi O2O membantu bisnis, termasuk UMKM, meningkatkan aktivitas pemasaran dan hasil penjualan. Metode penelitian yang digunakan adalah kuantitatif, dan diselesaikan melalui pengumpulan informasi primer, yaitu statistik yang diperoleh tanpa penundaan subjek melalui wawancara, kuesioner dan observasi, dan pengumpulan data sekunder. Dari Uji-F menunjukkan bahwa semua variabel independen memiliki pengaruh yang sama terhadap variabel dependen atau secara simultan. Dan hal ini menunjukkan bahwa Penggunaan Model Bisnis E-Commerce Online-to-Offline (O2O) memiliki pengaruh simultan terhadap Efektivitas Penerapan Model Bisnis O2O bagi UMKM Gupil Clothes Di Kota Metro.

The WORK STRESS AND CAREER SUCCESS: THE MODERATING ROLE OF LEADER SUPPORT

Tika Siregar — 2026-04-30

Career success has become an important topic in organizational research due to its relevance for employee retention, well-being, and organizational effectiveness. Drawing on the Conservation of Resources (COR) theory, this study examines how work stress influences both objective and subjective career success, and investigates whether leader support moderates these relationships. A quantitative survey approach was applied, involving 250 employees from various startup companies in West Sumatera. Data were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) through SmartPLS. The findings reveal that work stress negatively and significantly affects both objective and subjective career success. Additionally, Leader support does not moderate the relationship between work stress and objective career success, but it significantly moderates the effect of work stress on subjective career success, reducing its negative impact. The study extends COR theory in the context of startups and highlights the importance of stress management programs and leadership development.

CASH HOLDINGS AS A FINANCIAL RISK MANAGEMENT INSTRUMENT: EMPIRICAL EVIDENCE FROM THE HEALTHCARE INDUSTRY IN DEVELOPING COUNTRIES DURING COVID-19

Bulan Nettiary Kelara — 2026-04-30

This study examines cash holdings as a financial risk management instrument in the healthcare industry of developing countries during the COVID-19 pandemic. Using a quantitative approach, the study analyzes healthcare firms listed in Indonesia, Malaysia, Thailand, and Vietnam, with samples selected through purposive sampling. The data are analyzed using stepwise linear regression with panel data techniques and processed using EViews 13. The findings indicate that financial constraints negatively affect cash holdings only in Malaysia, while no significant effect is observed in Indonesia, Thailand, and Vietnam. Financial leverage does not significantly influence cash holdings in any of the countries studied. Profitability positively affects cash holdings in Indonesia and Malaysia, negatively affects cash holdings in Thailand, and has no significant effect in Vietnam. Growth opportunities have a positive effect on cash holdings only in Thailand, while no significant effect is found in the other countries. These results suggest that cash holding policies function as a context-dependent financial risk management mechanism, shaped by country-specific financial conditions, institutional environments, and crisis responses. This study contributes to the literature by providing empirical evidence from the healthcare sector, which remains underexplored in cash holding and risk management research, particularly in the context of global uncertainty following the COVID-19 pandemic. The findings also highlight the importance of locally tailored financial risk management strategies for firms and policymakers in the healthcare sector across ASEAN countries.

DO CAPITAL ADEQUACY AND INTEREST MARGIN DETERMINE BANK PROFITABILITY? EMPIRICAL EVIDENCE FROM INDONESIA

Akhmad Ghozali — 2026-04-30

Bank profitability is a crucial indicator of the stability and sustainability of the financial sector. Although previous studies have highlighted the role of capital adequacy and interest margin, empirical evidence in Indonesia remains limited and inconsistent, particularly during the post-pandemic economic recovery period. This study examines the effects of Capital Adequacy Ratio (CAR), Net Interest Margin (NIM), and economic growth (Gross Domestic Product, GDP) on Return on Equity (ROE) of publicly listed banks in Indonesia from 2019 to 2024. Panel regression results show that NIM has a positive and significant effect on ROE, confirming that effective interest income management is a key factor in enhancing bank profitability. In contrast, CAR and GDP are not significant, indicating that capital levels and economic growth do not directly contribute to profitability during the observed period. The study emphasizes the importance of evaluating the effectiveness of capital policies and the influence of macroeconomic factors on bank performance. The findings provide empirical contributions to the banking literature and offer strategic guidance for regulators and bank management in designing policies and strategies to improve profitability in an adaptive and sustainable manner.

Pengaruh E-Commerce, Financial Technology, Media Sosial, dan Lokasi Usaha terhadap Pendapatan UMKM di Kabupaten Kudus

Farah Zahra A'idah — 2026-04-30

Pendapatan usaha mikro, kecil, dan menengah (UMKM) dipengaruhi oleh berbagai faktor, baik yang berkaitan dengan pemanfaatan teknologi digital maupun aspek non-digital seperti lokasi usaha. Penelitian ini bertujuan untuk menganalisis pengaruh e-commerce, financial technology, media sosial, dan lokasi usaha terhadap pendapatan UMKM di Kabupaten Kudus. Populasi penelitian mencakup seluruh UMKM di Kabupaten Kudus. Pengumpulan data dilakukan melalui penyebaran kuesioner kepada 392 responden. Data yang diperoleh dianalisis menggunakan SPSS (Statistical Package for Social Sciemce). Hasil penelitian menunjukkan bahwa e-commerce, financial technology, media sosial, dan lokasi usaha berpengaruh positif terhadap pendapatan UMKM di Kabupaten Kudus.

The Role of Environmental, Social, and Governance (ESG) and Strategic Efficiency in Enhancing Financial Performance: Evidence from the Food and Beverage Industry in Indonesia

Belinda Mora Siagian — 2026-04-30

This study examines the role of Environmental, Social, and Governance (ESG) and strategic efficiency in influencing financial performance within Indonesia’s food and beverage industry. The research addresses whether sustainability practices and asset utilization contribute to profitability in the short term. Using a quantitative explanatory approach, the study analyzes 50 firm-year observations from 25 listed companies during the 2023–2024 period. Financial performance is proxied by Return on Assets (ROA), while ESG scores represent sustainability commitment and asset turnover reflects strategic efficiency. Multiple linear regression is employed to test the proposed model. The results indicate that ESG demonstrates a positive relationship with ROA at the 10% significance level, suggesting that sustainability practices begin to contribute to corporate profitability. However, asset turnover and firm size do not show significant effects on financial performance. These findings imply that the impact of sustainability on profitability tends to be gradual and requires consistent strategic integration.

Ethics Using Personal data for Personalized advertising: Literature Review and Research Agenda

Lia Lina — 2026-04-30

Online advertising systems use the principle of customer-based targeting. It’s called Personalized advertising. Personalized advertising is closely related to personal data. So, the ethical dilemma in personalized advertising has been discussed in existing research and becomes a paradox. This study conducted a literature review by analyzing articles from the Scopus database period of 2004-2023 (20 years). This research aims to define Personalized Advertising, explain the Ethical Dilemma, and summarize the Empirical findings. The findings of the literature review are presented in several parts. First, there are various definitions of personalized advertising. Second, the distribution of articles was published in reputable journal, and an overview of the empirical findings from various research was then suggested for future research and policymakers to avoid the ethical dilemma.

PENGARUH KOMUNIKASI ORGANISASI DAN LINGKUNGAN KERJA FISIK TERHADAP SEMANGAT KERJA DENGAN KEPUASAN KERJA SEBAGAI VARIABEL INTERVENING PADA SMA MUHAMMADIYAH 1 PALEMBANG

Robi Arif Ajis — 2026-04-30

Penelitian ini bertujuan untuk menguji pengaruh komunikasi organisasi dan lingkungan kerja fisik terhadap semangat kerja dengan kepuasan kerja sebagai variabel intervening pada SMA Muhammadiyah 1 Palembang. Penelitian ini menggunakan sampel sebanyak 123 responden. Teknik analisis data yang digunakan adalah Partial Least Square (PLS). Hasil penelitian menunjukkan bahwa komunikasi organisasi berpengaruh signifikan terhadap semangat kerja. Lingkungan kerja fisik juga memiliki pengaruh signifikan terhadap semangat kerja. Selain itu, kepuasan kerja terbukti berpengaruh signifikan terhadap semangat kerja. Namun, komunikasi organisasi tidak berpengaruh signifikan terhadap kepuasan kerja, sedangkan lingkungan kerja fisik berpengaruh signifikan terhadap kepuasan kerja. Secara tidak langsung, komunikasi organisasi berpengaruh signifikan terhadap semangat kerja melalui kepuasan kerja sebagai variabel intervening. Demikian pula, lingkungan kerja fisik juga berpengaruh signifikan terhadap semangat kerja melalui kepuasan kerja. Berdasarkan hasil penelitian, disarankan agar organisasi meningkatkan kualitas komunikasi organisasi untuk mendorong kepuasan dan semangat kerja pegawai. Selain itu, fasilitas kerja sebagai bagian dari lingkungan kerja fisik perlu diperhatikan guna menciptakan kenyamanan kerja dan mendukung peningkatan kinerja yang optimal.

PENGARUH UKURAN PERUSAHAAN DAN RETURN ON EQUITY TERHADAP KEBIJAKAN DIVIDEN PADA EMITEN SEKTOR ENERGI YANG TERDAFTAR DI BEI TAHUN 2021-2024

Raditya Bima Sagsepa — 2026-04-30

This study aims to analyze the effect of company size and profitability on dividend policy in energy sector issuers listed on the Indonesia Stock Exchange (IDX) during the 2021–2024 period. The study population consisted of 91 energy sector companies, while the sample consisted of 28 companies obtained through a purposive sampling method with a total of 112 observations. The research data is secondary data obtained from the annual financial reports of each company. Data analysis techniques used include panel data regression, classical assumption tests, coefficient of determination (R²), F-test, and t-test. Based on the results of the Chow and Hausman tests, the most appropriate model for this study is the Fixed Effects Model (FEM). The results show that the company size variable (Firm Size) has a t-value of -0.182680 with a probability value of 0.0000 <0.05, however, because the t-value is smaller than the t-table (2.055529), it is concluded that company size does not have a significant effect on dividend policy. Meanwhile, the Return on Equity (ROE) variable has a calculated t-value of 2.166240 > t-table (2.055529) with a probability value of 0.0332 < 0.05, thus concluding that profitability has a positive and significant effect on dividend policy. Simultaneously, the F-test results show a calculated F-value of 4.282876 > F-table (2.059539) with a significance value of 0.00000 < 0.05, indicating that company size and profitability jointly have a significant effect on dividend policy. This study provides empirical evidence that profitability is the primary factor influencing dividend policy in energy sector companies in Indonesia, while company size has no significant effect. These results reinforce that a company's ability to generate profits is the primary basis for management in determining dividend distribution policy to shareholders

PENGARUH DEWAN DIREKSI DAN KOMITE AUDIT TERHADAP PENGUNGKAPAN ENVIRONMENTAL, SOCIAL, AND GOVERNANCE (ESG): STUDI PADA PERUSAHAAN ENERGI YANG TERDAFTAR DI BURSA EFEK INDONESIA TAHUN 2022-2024

Refalina Aprilia — 2026-04-30

Pengungkapan Environmental, Social, and Governance (ESG) semakin menjadi perhatian global sebagai bentuk
transparansi dan akuntabilitas perusahaan terhadap isu keberlanjutan, terutama pada sektor energi yang memiliki
kontribusi signifikan terhadap emisi karbon serta dampak sosial dan tata kelola. Penelitian ini bertujuan untuk
menganalisis pengaruh dewan direksi dan komite audit terhadap pengungkapan ESG pada perusahaan energi yang
terdaftar di Bursa Efek Indonesia (BEI) periode 2022–2024. Penelitian menggunakan metode kuantitatif dengan analisis
data menggunakan regresi panel data, melibatkan 58 perusahaan energi yang dipilih melalui purposive sampling. Hasil
penelitian ini menunjukkan bahwa ukuran dewan direksi, ukuran komite audit, dan frekuensi rapat komite audit memiliki
pengaruh positif dan signifikan terhadap pengungkapan ESG, sedangkan dewan direksi yang independen dan gender
dewan direksi tidak memiliki pengaruh terhadap pengungkapan ESG. Hasil penelitian ini diharapkan dapat berkontribusi
pada pengembangan literatur tata kelola perusahaan serta menjadi pertimbangan bagi perusahaan energi di Indonesia
dalam memperkuat transparansi dan akuntabilitas keberlanjutan.

PENGARUH CITRA MEREK DAN KUALITAS PRODUK TERHADAP KEPUASAN KONSUMEN SEPATU OLAHRAGA MERK NIKE (STUDI KASUS KOMUNITAS BASKET KOTA PALEMBANG)

Zubaidah Warni — 2026-04-30

Sport is a form of physical activity that is usually competitive in nature with the aim of improving a person's physical abilities and skills while providing entertainment for players and spectators. One type of sport that is popular with people is basketball. The majority of world athletes use the Nike sports brand, whether for their shoes or clothing. Moreover, several athletes from the world of basketball are Brand Ambassadors for this brand. The Nike brand itself is currently a sponsor of the world basketball competition, namely the NBA. This research aims to find out whether there is an influence of brand image and kualitas produk on consumer satisfaction for Nike sports shoe users. The sample in the research are 100 basketball activists in Palembang. The research method is presented quantitatively, based on questionnaires distributed to respondents. Next, the data is processed using the SPSS 26 program. The final aim of this research is to find out whether there is an influence of brand image and kualitas produk on consumer satisfaction, either partially or simultaneously.

DOES FIRM GROWTH MODERATE THE IMPACT OF WORKING CAPITAL MANAGEMENT ON PROFITABILITY? EVIDENCE FROM LQ45 FIRMS

Gita Rahayu — 2026-04-30

This study examines the importance of profitability as a key indicator for investors in assessing a company’s ability to generate profits and pay dividends, while also considering managerial share ownership as a factor influencing company performance. It aims to analyze the effect of working capital turnover, inventory turnover, and accounts receivable turnover on profitability, as well as the role of company growth as a moderating variable, using a sample of 40 LQ45 companies listed on the Indonesia Stock Exchange during 2020–2024 with data collected from financial statements. The results, analyzed using multiple regression and Moderated Regression Analysis (MRA), show that working capital turnover, inventory turnover, and accounts receivable turnover significantly affect profitability, and company growth successfully moderates these relationships.

The The Role of Energy Consumption, FDI, and HDI in Economic Growth: A Panel Data Analysis

Okta Dian Sari — 2026-04-30

This study aims to examine the impact of energy consumption, foreign direct investment, and the Human Development Index on economic growth in ASEAN countries, namely Indonesia, Malaysia, Thailand, the Philippines, and Vietnam, over the period 2010–2023. Using panel data and the Fixed Effect Model (FEM) estimation method, the results indicate that all three independent variables have a significant effect on economic growth. The findings of the Chow test and Hausman test support the selection of the FEM as the most appropriate approach for explaining variations across countries and over time. These results underscore that increases in energy consumption, foreign direct investment, and the Human Development Index are strategic factors in promoting economic growth in the ASEAN region.

CHANGES IN CONSUMER BEHAVIOR IN THE MICROECONOMY IN THE DIGITAL AGE: A SYSTEMATIC LITERATURE REVIEW ON THE IMPACT OF E-COMMERCE PLATFORMS, SOCIAL COMMERCE, AND ARTIFICIAL INTELLIGENCE

Mala Vinuzia — 2026-04-30

Rapid advancements in digital technology have driven significant transformations in consumer behavior across various economic sectors. This study aims to conduct a systematic synthesis to identify patterns, trends, and implications of changes in consumer behavior within the microeconomy in the digital age. The methodology employed is qualitative, utilizing a Systematic Literature Review (SLR) approach to articles from DOAJ, Scopus, and Google Scholar spanning the period 2016–2025. The results indicate that digital transformation through machine learning and Artificial Intelligence enhances efficiency, personalization, and user experience. Psychological factors such as perceived usefulness, perceived risk, and consumer engagement also influence consumer decisions. Additionally, social commerce and the dominance of Generation Z reinforce interactive consumption patterns. These findings confirm that consumer behavior is multidimensional and influenced by the interplay of technology, psychology, and the digital ecosystem.