Qubahan Academic Journal

More than a Good Deal: The Interplay of Perceived Value, Multidimensional Engagement, and Intention to Buy in Live Platform

Adhi Prasetio — 2026-01-07

Live stream shopping has become popular alternative to traditional social media marketing, particularly in Indonesia. In this study, we adopted Perceived Value Theory to explore how financial, functional, individual, and social values influence three types of engagement, including affective, cognitive, and behavioral, and how these forms of engagement will shape purchase in live stream shopping environments. This research collects samples of 200 respondents via survey. Partial Least Squares Structural Equation Modeling was used to analysis the data. The output revealed that financial value strongly drives affective and cognitive engagement. Another finding is that functional value significantly influences cognitive and behavioral engagement, while individual and social values enhance users' emotional connections, that translate into direct purchasing behavior. Interestingly, the results suggest that functional benefits may not be sufficient to drive deep engagement or prompt purchasing action. The findings emphasize the need for a balanced value strategy one that effectively addresses both the emotional and practical needs of live stream audiences to foster meaningful engagement and influence purchase intention. Live streamers could emphasize financial and individual values in their contents to gain direct purchase intention. Furthermore, they need to highlight the financial, individual, and social values that could trigger emotional engagement in order to improve the purchase intention for longer term benefit.

Convergent Microfinance Strategy: Combining Fintech and Conventional Methods to Enhance Rural Financial

Sylviana Maya Damayanti — 2026-01-07

Financial inclusion in rural areas continues to face challenges due to poor infrastructure, low digital literacy, and resistance to financial technology. While both traditional microfinance and fintech have tried to address these issues, implementing them separately often leads to inefficiencies and low adoption. This study explores hybrid microfinance models that combine both approaches, using a system dynamics method with Causal Loop Diagrams (CLDs) to analyze interactions between technological, social, and operational factors. Data were gathered through stakeholder interviews and thematic analysis to map key feedback loops and intervention points. The findings highlight three core drivers of success: (1) Infrastructure Development, emphasizing connectivity and platform access; (2) Social Dynamics, focusing on financial literacy and trust to reduce resistance; and (3) Operational Innovation, which includes staff training, strategic resource use, and partnerships. Results suggest that a holistic strategy combining infrastructure investment, community engagement, and operational improvements is essential for advancing sustainable financial inclusion. Inclusive digital service design, targeted education, and supportive regulation are emphasized in the study as interventions to establish trust and improve accessibility in the rural contexts.

Policy Implications for Improving Operational Risk Management of Commercial Banks: A Case Study in Vietnam

Phan Dien Vy — 2026-01-06

This study investigates the impact of organizational factors and digital transformation on operational risk management (ORM) in Vietnamese commercial banks. Employing a mixed-methods approach, qualitative interviews with 25 senior risk experts helped refine measurement scales, followed by a large-scale quantitative survey with 958 valid responses. Structural equation modeling (SEM) reveals that the internal environment is the most influential driver of ORM, while the awareness and operation of the ERM framework (AOF) play a critical mediating role. Results emphasize that effective ORM requires a strong risk-aware culture, integrated digital systems, and clear risk communication. The study contributes theoretically by demonstrating a dual-channel mechanism, direct and mediated, through which organizational and technological factors shape ORM effectiveness. Practically, the findings highlight that sustainable ORM requires fostering a risk-aware culture, enhancing communication, aligning technology with ERM frameworks, and integrating risk management into strategic objectives. Policy recommendations emphasize the importance of leadership commitment, ethical governance, and systematic training to strengthen the internal environment and institutionalize ERM maturity, thereby enabling Vietnamese banks to build resilience and competitiveness in an increasingly digitalized financial landscape. Finally, enhancing leadership accountability, strengthening risk culture, and embedding ERM into daily operations and strategy.