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The 2015 global economic crisis has triggered the issuance of several banking regulations in Indonesia, including those related to temporary stimulus for Islamic banks and branchless banking (fintech). However, few studies attempt to evaluate the effectiveness of such regulations. Thus, this study aims to determine the role and assess the effectiveness of such banking regulations.

The data used cover all 12 Islamic commercial banks in Indonesia during the stimulus period of Q3.2015 to Q2.2017. The variables included were banks’ fundamental factors (Islamic financing, capital adequacy ratio, investment, non-performing financing, return on asset, efficiency, financing deposit ratio and fintech) and macroeconomic variables (inflation, exchange rate and money supply). The model was analyzed by using multiple linear regressions with generalized least square estimation technique.

The main finding suggests that the stimulus regulation indeed played a positive role in the acceleration of Islamic bank financing. However, the fintech-related regulation was not yet effective to achieve the goal, at least in the short term. Furthermore, the study found that return of assets, operational efficiency, financing deposit ratio and money supply also influenced Islamic financing.

For policymakers, the effectiveness of the temporary stimulus in accelerating Islamic banking financing and preventing the possible negative impacts of the external crisis provides indications that the regulator could conduct similar policy in the future. More generally, the findings are also expected to enrich Islamic banking literature.

This is possibly one of the few studies to investigate the role and effectiveness of banking regulations on Islamic banking financing in Indonesia.

Integrating the theory of consumption value into the stimulus-organism-response framework, this study aims to analyse the influence of external and internal factors on the customers’ perceptions of utilitarian, hedonic, social and epistemic values as drivers of the overall perceived value and customers’ continuance use of mobile banking (m-banking).

An online survey was conducted with 252 actual m-banking users, and the partial least squares structural equations modelling was applied to analyse the data.

The results reveal that ubiquity and gamification positively influence the perceived usefulness and entertainment, that is the utilitarian and hedonic perceived values. Furthermore, users’ self-congruence and innovativeness affect subjective norms and novelty-seeking, representing social and epistemic values. Except for the hedonic value, each value element impacts the overall perceived value, which in turn incites clients’ intention to continue using m-banking services.

By exploring the simultaneous effect of service-related and personal factors (stimuli) on different elements of perceived value (organism), this study contributes to the existing knowledge of consumption reactions (response) in the context of m-banking. The research of the Macedonian m-banking offers a closer insight into Western Balkan mobile commerce.

Integrando la Teoría del Valor de Consumo (TCV) en el marco Estímulo-Organismo-Respuesta (S-O-R), este estudio pretende analizar la influencia de factores externos e internos en las percepciones de valor utilitario, hedónico, social y epistémico de los clientes, como impulsores del valor percibido global y del uso continuado del m-banking por parte de los clientes.

Se realizó una encuesta en línea a 252 usuarios reales de banca móvil y se aplicó el modelo de ecuaciones estructurales por mínimos cuadrados parciales (PLS-SEM) para analizar los datos.

Los resultados revelan que la ubicuidad y la gamificación influyen positivamente en la utilidad y el entretenimiento percibidos, es decir, en los valores utilitarios y hedónicos percibidos. Además, la autocongruencia y la capacidad de innovación de los usuarios afectan a las normas subjetivas y a la búsqueda de novedades, que representan el valor social y epistémico. A excepción del valor hedónico, cada elemento de valor influye en el valor percibido global, que a su vez incita a los clientes a seguir utilizando los servicios de banca móvil.

Al explorar el efecto simultáneo de factores personales y relacionados con el servicio (estímulos) sobre diferentes elementos del valor percibido (organismo), contribuimos al conocimiento existente sobre las reacciones de consumo (respuesta) en el contexto del m-banking. La investigación del m-banking macedonio ofrece una visión más cercana del comercio móvil de los Balcanes Occidentales.

本研究将消费价值理论（TCV）纳入刺激-组织-反应（S-O-R）框架, 旨在分析外部和内部因素对客户感知功利价值、享乐价值、社会价值和认识价值的影响, 这些因素是客户整体感知价值和持续使用移动银行的驱动因素。

对 252 名实际移动银行用户进行了在线调查, 并采用偏最小二乘法结构方程模型（PLS-SEM）分析数据。

结果表明, 普遍性和游戏化对用户的有用性和娱乐性感知, 即功利性和享乐性感知价值有积极影响。此外, 用户的自我一致性和创新性也会影响主观规范和新奇寻求, 这代表了社会价值和认识价值。除享乐价值外, 每个价值要素都会影响整体感知价值, 进而激发客户继续使用移动银行服务的意愿。

通过探索服务相关因素和个人因素（刺激）对感知价值不同要素（有机体）的同时影响, 我们为现有的有关移动银行背景下消费反应（响应）的知识做出了贡献。通过对马其顿移动银行的研究, 我们可以更深入地了解西巴尔干移动商务。

As the popularity of Islamic banking and financial instruments continues to rise globally, a recurring empirical question is what specifically makes consumers choose Islamic banking. This paper aims to investigate the determinants of bank type selection, especially in culturally diverse settings where the Islamic banking sector is well-established. It further examines whether consumers’ gender/religion influences their choices. One intuitive prediction is that Muslim consumers opt for Islamic banking products as “ethical” because of conviction-related reasons. However, the reality is not necessarily straightforward.

This paper uses structural equation modeling to examine data collected from a survey questionnaire of 790 respondents in an emerging market setting. Further analysis is made based on gender and religion to remove related bias.

Results suggest that overall consumer awareness significantly affects the selection of Islamic banking products. The positive effect of awareness is more significant for Muslim consumers relative to non-Muslims. Interestingly, social stimuli and bank attributes have an insignificant effect on the banking choices of both Muslims and non-Muslims.

Results suggest that Islamic banks’ marketing managers should adopt differentiated strategies for men and women, focusing on the core benefits of the service or personal interactions with consumers, respectively, along with a focus on different aspects of personal service for each gender. Awareness should be enhanced by adopting informative and effective marketing strategies to attract and retain consumers in the competitive bank environment. Islamic banks (IB) should pay attention to the religious effect without considering it as the sole variable motivating potential customers. They should design segmented and customized marketing strategies based on gender-religion market segmentation to suit different groups’ needs.

The findings fill a gap in the literature and provide Islamic bankers with insights to help design and articulate their business strategies to appeal to consumers in a multicultural context. Examining an integral part of gender and religion mitigates biased estimates due to the omission of variables. The study contributes to the existing literature on customer preferences for IB with a relatively large, new data set.

Brands have started investing heavily in their social media pages. Especially for banks having credence nature, the importance of engaging customers with the brand-related content on their social media pages has become a challenge. The present study explores the role of various characteristics of a brand's social media marketing efforts (SMME) and individual customer's general online social interaction propensity (GOSIP) on the customers' engagement/online brand-related activities (COBRAs). The subsequent effect of COBRAs on key banking outcomes such as satisfaction, trust and loyalty has also been evaluated. The moderating role of the customer–brand relationship length has also been evaluated.

A two-stage mixed-method approach was used for the data collection. Two focus group discussions were conducted for the preliminary stage, which resulted in identifying five Indian banking brands as stimuli for further study. For the main study, an online survey link was shared with the members of the stimuli banking brands' social media pages. A total of 552 useable responses were collected. After performing the exploratory factor analysis and common method bias tests, the collected data were analyzed using structural equation modeling and multi-group analysis.

The results of the present study have added all five characteristics (namely, entertainment, interaction, trendiness, customization and electronic word of mouth) of SMME and GOSIP as the key antecedents of the customers' engagement with brand content on social media pages or COBRAs. COBRAs have been found influencing the customers' satisfaction, but evidence of influence on the trust and loyalty has not been found. The length of the relationship between customers and the banking brand has been observed as an important moderator for the satisfaction–trust–loyalty relationship.

The present study has three unique contributions to the literature. Firstly, the study evaluates the role of customer-brand engagement on the banking brand's favorable outcomes such as satisfaction, trust and loyalty. Secondly, the exploration of the role of various social media marketing activities that can enhance customer–brand engagement. And finally, the study tests the moderating role of the customer–brand length of the relationship on the complete set of marketing activities–engagement–loyalty relationships.

This study examines the effects of normative social beliefs, customer satisfaction with service quality and demographic variables on the long‐term savings behavior of rural households some 15 years after the 1981 large‐scale promotion of the rural bank program in Ghana. The results show that considerations of these influences beyond income alone provide stronger predictive power, over and above that of income. In addition, it appears that the negative effects of social beliefs on savings behavior were ameliorated significantly as a result of the promotional program. Similarly, customer satisfaction with the level of service quality was also positively correlated with the level of savings. However, the effects of the marketing approach used in Ghana differed significantly across state owned commercial banks, foreign multinational banks, and rural banks. The implications for enhancing the role of promotional marketing in changing savings attitudes in rural savings mobilization programs in Ghana and elsewhere in Africa are discussed.

In examining an economic fluctuation, researchers often refer to the theories of impaired access to capital which mostly explain, from the perspective of bank lending supplies, a shock in firm’s access to investment would decrease its capital expenditures and net debt issuance during crisis period. However, some studies show that this is not always the case. A demand shock theory can explain the decrease in firm’s capital expenditures and net debt issuance during crisis period, but there should be no causal link between the two. This is because firms naturally do not invest during crisis period because of a decrease in investment wealth during crisis period. This paper aims to examine these theories with respect to the Covid-19 crisis in Indonesia.

The change in firms’ capital expenditure and net debt issuance is analyzed using a non-parametric difference-in-difference and matching estimator across four firm-dimensions to see whether the implications of the supply shock theory apply to the current crisis or if that firms naturally do not invest during the crisis. In addition, this paper provides the result of panel regression to confirm the causal link between firms’ investment funds and capital expenditure, with an addition of consumer confidence index to accommodate the implications of the demand shock theory.

The results of this paper show that the implications of the supply shock theory cannot explain the economic fluctuation during the Covid-19 crisis. Rather, the results suggest that firms naturally do not want to invest during the crisis and that the demand shock can better explain the economic fluctuation during the Covid-19 crisis. This is confirmed by the result of panel regression which shows that only consumer confidence index has a significant positive relationship with firms’ capital expenditure.

This is the first study to examine the theory of impaired access to capital with respect to the Covid-19 crisis in Indonesia.

To report on an empirical study in psycholinguistics that revealed a difference between European and American patterns of thinking and to provide a brief history of a 30‐year effort to modify the philosophy of science in order to make it more suitable as a guide to doing research in the social sciences.

Assesses the approach of Heinz von Foerster, who used a deductive approach to science rather than an American empirical approach. Furthermore, von Foerster was willing to modify not only science but also the philosophy of science. By proposing that scientists pay attention to the observer as well as the observed, he added a dimension to the philosophy of science, which affects all disciplines.

Proposes an additional dimension that might be added to the philosophy of science. Paying attention to both the observer and the receiving society suggests a communication metaphor rather than the photograph metaphor, which has prevailed in the philosophy of science. Examining the philosophical underpinnings of science rather than just testing or extending an existing theory is a type of inquiry that springs from von Foerster's enthusiasm for tackling interesting problems unimpeded by disciplinary boundaries.

An assessment of the contribution to the multidisciplinary approach to science of von Foerster.

The purpose of this paper is to investigate the effect of online service failure on online customer satisfaction and offline customer loyalty, and the moderating role of brand strength is also examined. While extant research on brick and click service mode recognizes the positive spillover effect from offline stores to online stores, this study analyzes the negative spillover effect from online stores to offline stores.

This paper tests the hypotheses by two studies. Study 1 is based on a 2 (failure severity: mild vs severe) × 2 (brand strength: strong vs weak) between-subjects experimental design using scenarios in a brick and click retailer context, while study 2 is based on data collected from a scenario-based questionnaire survey and analyzed through the structural equation modeling.

The results indicate that participants exposed to severe online service failure show lower online satisfaction as compared to their counterparts exposed to mild online service failure, but they show the similar level of offline loyalty in both degrees of online service failure. Nevertheless, these results are not moderated by brand strength significantly.

An experimental design and a scenario-based questionnaire survey are used to test the framework. However, the generalizability of the research findings is still limited to a specific study setting. Future research in a different setting is needed to further validate the presented findings.

The findings suggest that physical service providers should adopt aggressive online expansion strategy to seize the market and pay more attention to online service quality rather than online marketing only.

This is one of few studies to explore the risk of brick and click service mode, and provide a clear understanding of the likely occurrence of online service failure and its impact on online customer satisfaction and offline customer loyalty. It extends prior research by exploring non-existence of negative perceptual effect from online service failure to offline customer loyalty in the short run and weakening brand effect, which contributes to cross-channel spillover effect in the integrated multi-channel context and brand building in the internet era.

Using the stimulus–organism–response (S–O–R) framework, this study investigates the role of trust (organism) in influencing the behavioural intentions (response) of emerging market retail banking customers, based on the banks' selected customer-focused efforts (stimuli) to influence behavioural intentions. The study also looks at the moderating effects of customers' perceived value and the duration of their support on these relationships.

The data analysed were collected from 599 retail banking customers in an emerging market via a self-administered questionnaire.

Customer-focused efforts, except for expertise, significantly and positively influence trust. Trust partially mediates the relationships between the remaining customer-focused efforts and behavioural intentions. Furthermore, perceived value moderates the relationships between these stimuli and trust, excluding information sharing. The duration of customer support for the bank also moderates the relationships between these stimuli and trust, bar customer orientation.

The study augments the understanding of trust's role as the organism from an S–O–R framework perspective.

The study assists banks in emerging markets in understanding trust's role in influencing customers' behavioural intentions, given the application of selected customer-focused efforts. It highlights the significance of perceived value and duration of customer support in the relationships between these customer-focused efforts and trust.

Using a single S–O–R framework, the role of trust in mediating the relationships between retail banks' selected customer-focused efforts and customers' behavioural intentions is uncovered.

This article aims to explore the impact of interpersonal relationship stimuli and click-like on purchase intention across different generations of bank customers, with a focus on the moderating effect of online trust.

The sample consists of 435 online bank customers from the Facebook community and the data collection was conducted using an online survey method. The model estimation utilized the partial least squares technique, along with multigroup analysis and importance-performance map analysis.

The empirical evidence supports the hypothesized relationships between interpersonal relationship stimuli, click-like and purchase intention, but varies across different generations and is contingent upon online trust. The analysis reveals commonalities in how Generation Z, Millennials and Generation X respond to interpersonal relationship stimuli while exhibiting distinct responses to click-like.

The empirical evidence confirms the hypothesized relationships between interpersonal relationship stimuli, click-like and purchase intention. However, these relationships exhibit variations across different generations and are contingent upon the level of online trust. The analysis highlights shared responses to interpersonal relationship stimuli among Generation Z, Millennials and Generation X, while also revealing distinct reactions to click-like within these generational groups.

This research investigates the collective impact of interpersonal relationship stimuli and click-like on purchase intention, taking into account the moderating role of online trust within various generational cohorts in the banking sector.