Mursalim Nohong

With increasing environmental and strategic challenges, achieving sustainable competitive advantage is crucial for businesses. This study aims to examine the impact of strategic risk and green financial management on sustainable competitive advantage, focusing on the mediating role of sustainable business resilience and the moderating effect of government policy. A quantitative approach was utilized, applying the SMART-PLS methodology to analyze data gathered through a survey of 316 small and medium-sized enterprise (SME) owners in Indonesia, selected for their direct involvement in daily operations and strategic decision-making. The response rate was 63.2%, representing various industry sectors. The results indicate that strategic risk significantly enhances sustainable business resilience (β = 0.796 and p-value < 0.01), which is strongly associated with sustainable competitive advantage (β = 0.458 and p-value < 0.01). Green financial management, however, does not significantly impact resilience (β = 0.008 and p-value = 0.89). Both strategic risk and green financial management, nonetheless, indirectly influence competitive advantage through resilience, reflecting partial mediation (β = 0.112, p-value = 0.02 and β = 0.053, p-value = 0.04, respectively). Additionally, government policy strengthens the effect of green financial management on resilience (β = 0.556 and p-value < 0.01). These findings underscore the importance of firms managing strategic risks proactively and providing supportive regulations to encourage sustainable business practices by governments. The study provides practical insights for businesses and policymakers aiming to foster corporate resilience and enhance sustainable competitive positioning.

This study examines the impact of corporate governance and investment decisions on financial performance and firm value in the insurance and banking sectors. Additionally, the moderating effect of financial technology innovation is integrated into the model. Using a purposive sampling technique, 40 insurance and banking companies were selected as the analytical units, with secondary data extracted directly from the Indonesian Stock Exchange (IDX) database from 2018 to 2022. The results from Partial Least Squares-Structural Equation Modeling (PLS-SEM) indicate that corporate governance and investment decisions significantly impact financial performance and firm value in the insurance and banking sectors in Indonesia. Moreover, fintech technology innovation significantly moderates the relationships between corporate governance and financial performance, as well as corporate governance and firm value, but does not significantly moderate the relationship between investment decisions and firm value. Lastly, the effects of these relationships are found to be more profound in the banking sector compared to the insurance sector.

Type of the article: Research Article

Abstract
This study explores how strategic positioning and relational marketing influence brand loyalty in Indonesia’s telecommunications sector, focusing on the mediating role of brand image. A quantitative survey was conducted with 460 prepaid mobile users in Makassar City, using PLS-SEM to evaluate direct and indirect relationships among the variables. The findings reveal that both strategic positioning and relational marketing significantly affect brand loyalty directly and through brand image (β = 0.323, p = 0.038; and β = 0.288, p = 0.030, respectively). Furthermore, brand image serves as a partial mediator, as shown by the indirect effect of strategic positioning performance on brand loyalty through brand image (β = 0.178, p = 0.071) and the indirect effect of relational marketing on brand loyalty via brand image (β = 0.181, p = 0.064). From a managerial perspective, these findings underscore the need for telecommunications providers to integrate strategic positioning and relational marketing with brand image development.

Acknowledgments
The authors declare that this research did not receive any specific grant from funding agencies in the public, commercial, or not-for-profit sectors. The authors gratefully acknowledge the use of ChatGPT-4 (OpenAI, 2025 version) to support language refinement and grammar improvement during the preparation of this manuscript. The tool was used exclusively for copy-editing purposes to enhance linguistic clarity and readability. No part of the research design, data collection, data analysis, interpretation of results, or substantive content was generated by AI. The authors take full responsibility for the accuracy, integrity, and originality of the work.