Journal of Indonesian Economy and Business

Factors Affecting Customer Trust in Chatbot Usage: Evidence from Indonesia

Amelia Amelia — 2025-09-29

Introduction/Main Objectives: Customer trust is critical in ensuring the successful implementation of chatbots. Building trust is essential to ensure that users feel confident in using chatbot across various contexts, including customer service. Background Problems: Despite its importance, there is limited understanding of how specific chatbot features influence customer trust, especially within the Indonesian context. Novelty: Drawing principally on the Technology Acceptance Model (TAM), this empirical study develops and tests a model that incorporates anthropomorphism, the attribution of human-like qualities, to provide a more comprehensive explanation of customer trust. Research Methods: This study utilizes quantitative analysis of data gathered from 368 customers to examine the relationships between perceived usefulness, ease of use, anthropomorphism, and trust. A structured survey was administered, and statistical techniques were employed to validate the proposed model and determine the significance of each factor. Finding/Results: The analysis reveals that perceived usefulness, ease of use, and anthropomorphism are all significant predictors of trust in chatbots. Among these, ease of use emerges as the most influential factor, emphasizing its pivotal role in fostering trust. Conclusion: This study provides practical guidance for managers and developers aiming to design trust-enhancing chatbots. Key strategies include integrating human-like features, focusing on usability, and highlighting the practical benefits offered by chatbots. These approaches can improve customer engagement, enhance interaction quality, and support the succesful implementation of chatbot technologies in Indonesia.

The Effectiveness of Social Assistance Distribution Policy for Extreme Poverty Eradication in Indonesia

Cita Pertiwi — 2025-09-29

Introduction/Main Objectives: In order to achieve target 1.1 of the Sustainable Development Goals (SDGs), i.e., to end extreme poverty by 2030, the Indonesian Government encourages the distribution of social assistance as one of the main programs. Background Problems: There are several issues related to the distribution of social assistance that impact the effectiveness of this program. This study aims to investigate the challenges and evaluate possible solutions for the effectiveness of social assistance distribution. Novelty: This study proposes alternative solutions to improve the effectiveness of social assistance distribution in Indonesia. Research Methods: This research uses a descriptive qualitative approach and SOAR analysis (strengths, opportunities, aspirations, and results). The data have been obtained from a literature review and focus group discussions. Finding/Results: The results of the analysis identify three problems, namely (i) inaccuracy of the target beneficiary data, (ii) absence of formed cooperative between stakeholders in the distribution process, and (iii) the amount of cash in the social assistance has not been able to meet the cost of living in several regions in Indonesia. Solutions that can be used to overcome these problems are (1) updating the data and improving the accuracy of targeting of social assistance, (2) strengthening the synergy of the social assistance program organized by government, (3) an adjustment, carried out by local governments, of the value of social assistance benefits, and (4) strengthening the supervision of the social assistance distribution process. Conclusion: The alternative solutions above are "tactical" approaches that need to be employed by the government to increase the effectiveness of social assistance distribution to alleviate extreme poverty.

Digitalization and Access to Household Credit in Indonesia: Pre- and-Post-COVID-19 Pandemic (2019 and 2021)

Cita Puspita Sari — 2025-09-29

Introduction/Main Objective: This study examines the effect of digitalization on access to household credit during the National Economic Recovery (PEN) program in Indonesia. Background Problems: Financial inclusion plays an important role in improving welfare and quality of life, accelerating economic growth, and alleviating poverty. Digitalization can affect financial inclusion through the transmission of mobile financial services, such as internet banking. Novelty: This study contributes to the literature on financial inclusion from the perspective of household credit. Research Method: This study uses the binomial log it model and data from the national socio-economic survey (SUSENAS) and statistics on village potential (PODES) from 2019 (before the pandemic) and 2021 (one year after the pandemic). Findings/Results: The results show that the average marginal effect of a household’s internet use was 1 percent higher than non-use before COVID-19. Meanwhile, after COVID-19, the marginal effect was 1.6 percent greater for households accessing credit through internet use than for those not using the internet. Furthermore, the probability of credit access is 4.6 percent higher for cell phone users than for non-users pre-COVID-19; meanwhile, post-COVID-19, the probability was 4.1 percent smaller than pre-COVID-19.The majority of households with access to credit are headed by males living in rural areas; they are married and working; they graduated from junior high school or above; and they are 30-59 years old. Conclusion: This study, by comparing 2019 to 2021, concludes that, as a result of the COVID-19 pandemic, digitalization accelerated access to household credit.

Are There Financial Sacrifices in Ethical Investing? A Comparative Study of Indonesia and Malaysia

Farah Amalia — 2025-09-29

Introduction/Main Objectives: Ethical investment in Southeast Asia is gaining traction, particularly in countries like Indonesia and Malaysia. This research aims to measure the performance of ethical investments and compare them with their opposite category, sin stocks. Investors should avoid sin stocks because they operate in controversial areas and go against ethical investment principles. Background Problems: Previous research conducted in developed countries shows that ethical investments are inferior to sin stocks, thus investors suffer financial sacrifices. Novelty: A comprehensive ethical investment instrument that involves sustainability and religion-based investments. Formation of sin stock portfolios in two Muslim countries. Research Methods: A volatility analysis and a descriptive analysis were carried out to provide a comprehensive picture of the performance of ethical and sin stocks. The analysis continues by comparing and explaining why and how the results occurred. Finding/Results: Ethical stock returns underperformed sin stocks in Malaysia, and ethical stocks outperformed sin stocks in Indonesia. This exciting result can be explained by the differences in screening criteria, perceptions, and regulations in these two neighboring countries. Conclusion: There are no financial sacrifices in ethical investing in Indonesia, so ethical investors do not need to hesitate. They are advised to invest ethically because they achieve two goals at once. Meanwhile, Malaysian ethical investors must be prudent and careful in investing to continue achieving social goals and mitigating losses.

Green Pension Investment: A Dynamic Relationship and Efficiency for the Green Economy in Indonesia

Irna Puji Lestari — 2025-09-29

Introduction/Main Objectives: This study aims to propose alternative investments from pension funds that are integrated with renewable energy productivity to boost green economic growth in Indonesia.To see the ideal efficient proportion of this investment and renewable energy on a regional scale, the efficiency of green economic performance is also identified. Background Problems: Investments in the green sector are less attractive to pension fund institutions while they have great potential financial sources. These investments should be promoted to support Indonesia's commitment to strengthening multilateral financing to support climate action in developing countries. Novelty: This study will be the first to simulate a green-based investment scheme involving pension funds for green economic growth, as well as capture its level of efficiency in a regional context. Research Methods: Two methods were conducted: the generalized method of moment (GMM) and the data envelopment analysis (DEA). Panel data from 34 provinces in Indonesia were used covering the period of 2016-2022. Finding/Results: The first finding revealed the short and long-term relationship between the green economy, green pension investment, and renewable energy. The second finding revealed that green economy efficiency in Indonesia has a moderate score with the highest score obtained by DKI Jakarta province. Conclusion: Green pension investment could promote the green economy and its efficiency in Indonesia, especially through active integration with the productivity of renewable energy

The Impact of External Capital on the Performance of Agricultural Cooperatives in Indonesia

Rizki Pratomo Sunarwibowo — 2025-09-29

Introduction/Main Objectives: Sufficient capital remains a notable challenge across various business models. This study investigates the influence of capital, mainly external capital, on cooperative productivity. Background Problems: Cooperatives are viewed as a potential avenue for supporting the public economy and establishing a fundamental pillar within a robust economic structure. However, in Indonesia, cooperatives have not fully realized these envisioned prospects. The issue of access to capital is believed to have an impact on the productivity of cooperatives. Novelty: Limited research has delved into the impact of capital on cooperative productivity. Our study utilized cooperative firm-level data, while the majority of prior studies have relied on less-detailed aggregate data. Research Methods: We employed recent data on agricultural cooperatives in Indonesia, covering 3,315 units. The endogenous switching regression method was applied to estimate the impact of external capital on cooperative productivity and draw comparisons between cooperatives that embraced external capital and those that did not. Finding/Results: The results indicated that cooperatives utilizing external capital exhibited a 2.8% higher level of productivity than those that did not. Additionally, we explored the impact of external capital based on cooperative size. The results revealed that large-category cooperatives experienced a 10% increase in productivity, medium-category cooperatives a 5.6% increase, small-category cooperatives a 0.8% increase, and micro-category cooperatives a 0.1% increase. Conclusion: These findings underscore the substantial influence of capital factors, mainly external capital, on cooperative productivity. The government needs to enact legislation to better regulate and support access to capital.

Knowledge Sharing Among Lecturers: Evidence from Indonesia

Widyo Nurpatwikanto — 2025-09-29

Introduction/Main Objectives: This research aims to (a) investigate the impact of leadership types (specifically responsible and transformational leadership) on behavior related to knowledge sharing and (b) assess the influence of mediating factors of person-organization fit between leadership style and knowledge sharing behavior, and (c) examine how the culture of higher education institutions (HEIs) influences the development of leadership and organizational dynamics. Background Problems: In prior research, conflicting findings have emerged concerning the connection between leadership and knowledge sharing. It is essential, by looking at responsible and transformational types of leadership, to determine which type exerts the most substantial influence on knowledge-sharing behavior Novelty: This research extends previous research by utilizing two types of leadership, namely responsible leadership (RL) and transformational leadership (TL), in one research model. By doing this, we compare which of the two leadership models significantly influences knowledge-sharing behavior among lecturers. Research Methods: This research was conducted through an using convenience and snowball sampling methods and collected 256 lecturers as participants from diverse Indonesian universities. The data ware analyzed using partial least squares (PLS) with the support of WarpPLS 7.0. Finding/Results: This study discovered that responsible leadership, transformational leadership, and person-organization fit positively impact knowledge-sharing behavior. Moreover, the culture of higher education institutions moderates the relationship between responsible and transformational leadership and person-organization fit, however unfortunately, it fails to strengthen this relationship. Person-organization fit serves as a mediator in the relationship between transformational leadership and knowledge-sharing behavior. Additionally, it was observed that transformational leadership has a more significant impact than responsible leadership on knowledge-sharing behavior. Conclusion: This study has the potential to offer empirical evidence and bring cohesion to social exchange theories concerning the influence of leadership types on knowledge-sharing behavior

Retraction Note: E-Blue: Implementation of an Integrated Blue Economy Ecosystem to Increase Coastal MSMEs Competitiveness (Journal of Indonesian Economy and Business, Vol. 40, No. 2, May, 2025, 10.22146/jieb.v40i2.10994)

Tito Aditya Perdana — 2025-09-29

The Journal of Indonesian Economy and Business (JIEB) announces the retraction of the article titled "E-Blue: Implementation of an Integrated Blue Economy Ecosystem to Increase Coastal MSMEs Competitiveness", published online on 28 May 2025 in Vol. 40, No. 2 (DOI: 10.22146/jieb.v40i2.10994).

Following the detection of numerous inappropriate citations, the editorial team initiated an investigation into the article's content. Upon review, it was concluded that the paper violated the COPE Guidelines on major errors (https://publicationethics.org/guidance/guideline/retraction-guidelines). These issues raised significant concerns regarding the integrity of the article’s research and findings.

As a result, the editorial board have agreed to retract the article. The retraction note will be published in JIEB Vol. 40, No. 3 (September 2025).