Journal of Business, Management, and Social Studies

Danantara in the Light of Legal Theories: A Normative Assessment of Indonesia’s Sovereign Wealth Fund

2025-04-24T23:00:18+08:00

The purpose of this study is to analyze the legal, ethical, and institutional dimensions of Danantara, Indonesia’s newly launched Sovereign Wealth Fund (SWF), using a multidimensional legal theoretical framework. This paper examines how the establishment of Danantara aligns with or deviates from core legal theories, and explores its implications for governance and public legitimacy. This study employs a qualitative, normative legal research method using a doctrinal approach. Primary and secondary legal sources were analyzed, including government regulations, official reports, academic literature, and media commentaries. The analytical framework is built upon five legal theories: Legal Positivism, Natural Law, Rule of Law, Critical Legal Studies, and Good Governance Theory. The findings show that while Danantara fulfills the requirements of formal legality, it suffers from a lack of societal legitimacy and accountability due to governance opacity, politically affiliated leadership, and absence of independent oversight. These issues highlight inconsistencies with ethical standards and democratic values promoted by the selected legal theories. This paper provides a unique comparative analysis of Danantara by integrating five major legal theories into a single analytical framework—an approach rarely applied to sovereign wealth funds. It contributes to legal scholarship by revealing how formal legal instruments may reproduce structural inequality and democratic deficits if not grounded in ethical and participatory principles.

Strategic Investment Reforms for Indonesia's Economic Growth in Relation to Danantara as an Investment Management Agency

2025-04-20T20:07:12+08:00

This research aims to obtain research results on Daya Anagata Nusantara in relation to strategic investment reforms for Indonesia’s economic growth. The author uses normative research with the aim of obtaining analysis results based on legal rules, legal principles by analyzing problems with descriptive research. The existence of Danantara as an Investment Management Agency (BPI) provides a new change in terms of national strategic investment management. The establishment of Danantara is a strategic investment reform that is expected to be able to maximize state assets as a form of directed investment based on strong law. The existence of Danantara can have a significant impact that can potentially increase the layers of hierarchy that can extend the bureaucratic process. By employing normative research grounded in legal rules and principles and applying it to the practical context of Danantara, the research offers a novel bridge between legal theory and real-world strategic investment reform in Indonesia. It likely explores how specific legal frameworks underpin and potentially shape the effectiveness of Danantara.

Judicial Ethics and Moral Reasoning in Legal Philosophy: A Deontological and Utilitarian Review of the Harvey Moeis Case

2025-04-20T20:03:46+08:00

The purpose of this study is to explore the alignment between judicial decisions and ethical principles through the lens of legal philosophy, using the Harvey Moeis corruption case as a focal point. This research employs a descriptive qualitative method with juridical-normative and philosophical approaches. It involves the analysis of judicial decisions, legal norms, and ethical codes such as KEPPH, combined with theoretical frameworks from deontology, utilitarianism, and virtue ethics. The study finds that while the court’s decision attempted to uphold justice, concerns remain regarding judicial integrity and impartiality. The ruling emphasizes deterrence but reflects the need for stronger adherence to ethical and philosophical principles. This study contributes a philosophical-ethical analysis of a contemporary judicial case in Indonesia, highlighting the moral dimension of legal reasoning often overlooked in procedural legal analysis.

Beyond Engagement: How Social Media Marketing Drives Trust, Image, and Purchase Intention in Cosmetic Brands

2025-04-26T13:05:12+08:00

The rapid growth of internet usage significantly impacts customers’ habits, reshaping their behaviors in various ways. Correspondingly, this evolution has also transformed social media from a communication platform to a marketing tool. Today, social media marketing plays a crucial role in cultivating brand trust and shaping brand image, significantly influencing consumers’ purchase intentions. By using the theory of planned behavior, this study aims to explore the influence of social media marketing activities on purchase intentions, focusing on cosmetic brands in DKI Jakarta. This research used a quantitative approach, focuses on a sample of 177 residents of Jakarta. It aims to analyze the direct and indirect effects of social media marketing activities, brand trust, and brand image on purchase intention. The study utilizes the Smart-PLS software to evaluate the proposed hypotheses. The findings of this study reveal a notable and positive correlation between social media marketing activities, brand trust, brand image, and purchase intention. By investigating the impact of these variables on purchase intention, this research adds to the existing body of knowledge. The outcomes provide valuable insights for skincare brand management, enabling them to devise effective marketing strategies to succeed in a highly competitive market. The study suggests that managers should maximize the potential of social media marketing activities to enhance brand trust and cultivate a positive brand image, thereby promoting a favorable impact on purchase intention.

Consumer Conformity and Continuance Intention: A Study Case Approach of Facebook and WhatsApp

2025-04-26T21:51:56+08:00

ABSTRACT

Purpose - This study aims to explore the phenomenon of consumer conformity and its impact on the continuance and reuse intention of digital communication platforms, particularly in the context of policy changes that force users into making critical decisions. Using the recent case of WhatsApp and Facebook's policy updates as a backdrop, this study examines how consumer conformity influences user behavior and intentions to continue or abandon a service.

Methodology - The research is conceptual in nature, employing an integrative approach based on the Theory of Planned Behavior (TPB) and the Technology Acceptance Model (TAM). A comparative analysis is conducted through two proposed scenarios to understand user decisions following sudden policy changes, emphasizing the psychological factors of conformity, perceived value, trust, and perceived risk.

Findings - The findings suggest that when consumers are faced with limited choices, such as accepting unfavorable terms or discontinuing service, informational and normative conformity significantly influence continuance intention. Factors such as perceived security, service quality, satisfaction, and perceived usefulness are found to moderate the relationship between conformity and continuance intention. Additionally, previous experience, trust, and self-efficacy emerge as strong determinants of users' willingness to reuse or abandon the service after policy disruptions.

Novelty - Unlike previous studies that treat continuance intention purely as a result of satisfaction and usefulness, this study introduces the element of forced conformity and policy-driven decision-making into the behavioral model. It proposes a dynamic framework that incorporates psychological contract violation, trust restoration strategies, and conformity types (informational and normative) in explaining consumer behavior in digital platforms.