Journal of Social Economics Research

Facilitating employee excellence: A study on the mediating role of organizational virtuousness and individual creativity in Surabaya's finance company, Indonesia

Angga Dutahatmaja — 2025-11-24

The purpose of this study is to investigate the impact of authentic leadership capabilities and managerial coaching skills on individual performance, taking into account organizational virtuousness and individual creativity as mediating variables among financial sector workers in Surabaya City, Indonesia. The sample of this study comprises 384 respondents from finance firms in Surabaya, collected through a survey distributed via Google Forms. The analysis employed Structural Equation Modeling (SEM) using Smart PLS to examine the data. The research findings indicate a positive and significant correlation between authentic leadership and employee performance within Surabaya's financial sector. Conversely, a manager's coaching skills do not have a significant impact on individual performance. Organizational virtuousness emerged as a mediator in the relationships between authentic leadership, managerial coaching skills, and individual performance, emphasizing its role in enhancing employee performance. Additionally, individual creativity acted as an intermediary in the relationship between managerial coaching skills and individual performance. Therefore, managerial recommendations include promoting authentic leaders who endorse ethical practices within the organization and encouraging innovative work among employees to improve overall performance standards.

Evaluating the effectiveness of palm oil as bio-aviation fuel on Indonesia aviation industry: Reducing emissions and opportunity of having carbon allowances

Nyoman Dyota Pramudita — 2025-11-26

This study investigates the economic feasibility and environmental benefits of integrating Palm Kernel Oil (PKO)-based bio-aviation fuel (BAF) into Indonesia’s domestic aviation sector. Drawing on data from major flight routes and applying a Hydroprocessed Esters and Fatty Acids (HEFA)-based emissions model, the analysis calculates CO₂ emission reductions of 74%–84% compared to conventional fossil jet fuel, providing strong evidence of its environmental potential. The cost-revenue model, combined with ARIMA-based price forecasting, reveals that despite isolated instances of positive profitability, such as on the Jakarta–Medan route in 2023, PKO-based BAF remains economically unviable under current market conditions, largely due to the persistent cost gap with fossil jet fuel. Price forecasts indicate sustained PKO price levels between USD 1170–1193 per metric ton and carbon credit prices averaging USD 77 per metric ton through 2026, suggesting limited opportunity for natural market correction. Sensitivity analysis identifies that carbon prices would need to rise by up to 182% to achieve breakeven, emphasizing the urgent need for robust policy measures, including minimum carbon pricing, fiscal incentives, and investment in supply chain efficiencies to make BAF adoption viable. This research advances the sustainable aviation fuels (SAF) literature by integrating emissions modeling, economic analysis, and market forecasting in the context of an emerging economy, providing a novel contribution to discussions on aviation decarbonization. The findings offer actionable insights for policymakers, industry stakeholders, and researchers aiming to design effective interventions and shape the future of sustainable aviation in Indonesia and similar emerging markets.

Enhancing economic growth through financial industry agglomeration: Policy recommendations for the Guangdong-Hong Kong-Macao Greater Bay Area

Feng Li — 2025-11-28

This study provides an in-depth empirical analysis of the determinants of regional economic growth in the Guangdong-Hong Kong-Macao Greater Bay Area, focusing on the roles of financial industry agglomeration, innovation, environmental regulation intensity, urbanization, and population density from 2007 to 2021. Utilizing a comprehensive panel dataset across 21 cities and employing advanced econometric techniques including the Method of Moments Quantile Regression this research uncovers robust evidence that financial development and innovation are consistent and powerful drivers of economic growth, regardless of city size or developmental stage. The findings indicate that, although advancement and innovation in the financial sector are universal drivers of economic performance, the impacts of environmental regulation and urbanization are more complex and highly heterogeneous across various quantiles of economic growth. Specifically, environmental regulation tends to promote growth in less developed cities but may impose constraints in more developed urban centers, whereas urbanization is more influential at early stages but diminishes as a city grows. The supported long-term cointegrating relationships between the variables also highlight that the regions involved require uniform, region-specific measures to maintain balanced, sustainable, and innovation-driven growth. These findings contribute to existing research in regional economics and offer transparent, applicable policy insights for decision-makers aiming to facilitate inclusive and resilient urban growth within one of China's most vibrant metropolitan areas.

Analyzing the relationship between foreign direct investment, trade openness and small and medium enterprise growth: Time series evidence from Vietnam (1991–2023)

Le Thi Giang — 2025-11-28

SMEs (Small and Medium Enterprises), accounting for more than 97% of enterprises in Vietnam, play a pivotal role in driving socio-economic progress. This paper explores how foreign direct investment (FDI) and trade openness (TO) influence SME development, drawing on annual data for the period 1991–2023. Using secondary information from the World Bank, the General Statistics Office, and the Ministry of Planning and Investment, two multiple regression models are constructed to analyze the effects of FDI and TO on the population of SMEs and their aggregate revenue. Results indicate that FDI and TO jointly explain 98.9% of the variation in SME numbers and 98.2% of SME revenue. Specifically, a 1 billion USD increase in FDI is associated with an additional 25,942 SMEs, while a 1 percentage point rise in TO corresponds to 1,832 more SMEs, both confirmed at the 1% significance level. Concerning revenue, each 1 billion USD in FDI raises SME revenue by approximately 8.273 billion USD, and each 1% increase in TO contributes about 1.062 billion USD, also confirmed at the 1% significance margin. These findings underscore the complementary roles of FDI and TO in fostering SME expansion and performance. The study recommends targeted FDI attraction policies, capacity-building programs for SMEs to integrate into global value chains, and balanced trade liberalization to sustain long-term SME growth in Vietnam.

Psychometrics, risk profiles, and policy attitudes toward gambling in Kazakhstan

Yermek Buribayev — 2025-12-01

Commercial gambling is expanding in Kazakhstan amid digitalization and regulatory change, yet population-based estimates of participation and harm remain limited. This study provides a national baseline to inform product-specific harm-reduction policy. A cross-sectional, dual-language (Kazakh/Russian) survey of adults aged 18–60 (N = 1,015) was conducted in April–May 2025 using stratified quotas and post-stratification weights (sex, age, region) to generate population estimates. Measures included past-year gambling participation and intensity, the nine-item Problem Gambling Severity Index (PGSI; 12-month frame), and attitudes toward regulation and self-exclusion. Weighted proportions are reported for the full sample and, where relevant, past-year gamblers. An estimated 46.7% of adults (95% CI 43.6–49.8) gambled in the previous 12 months; 18.5% (95% CI 16.3–21.0) reported weekly or more frequent play. Among past-year gamblers (n = 474), 44.7% gambled weekly or more, 8.9% reported expenditure exceeding 50% of income, and 3.6% reported spending approximately all income on gambling. PGSI items indicating harm were frequently endorsed (e.g., chasing losses 82.5%; spending more than could be afforded 74.7%). Among non-gamblers, 68% viewed gambling “extremely negatively”; most favored strict regulation, with roughly three-quarters supporting a complete ban and about two-thirds endorsing mandatory youth risk education. Gambling in Kazakhstan is widespread, with substantial self-reported harm and strong public support for restrictive controls.