Nurhayani Saragih, Suraya Mansur, Elly Yuliawati, Siti Khodijah Lestari, Amirudin Wibowo
This study examines how public discourse on online lending in Indonesia constructs symbolic resistance and a crisis of legitimacy. Drawing on a netnographic approach and thematic analysis of YouTube comments, it applies symbolic convergence theory (SCT) and agenda-setting theory to explore how fragmented experiences evolve into collective narratives. Our findings highlight three dominant themes: (1) regulatory and governance failures, (2) socio-economic and psychological impacts, and (3) public resistance through ethical alternatives. Fantasy types frame the state as absent, complicit, or just, while narratives of debt, trauma, and consumerist pressures underscore the burdens of digital lending. Practices such as galbay (strategic default), survival tactics, and calls for cooperative or Sharia-based finance illustrate symbolic resistance. Media and algorithms further amplify these discourses, with YouTube’s recommendation system privileging narratives of crisis and distrust. This participatory and algorithmic agenda-setting process shows how netizens shape both public opinion and regulatory priorities. The study reframes online lending not as financial innovation but as a multidimensional crisis of ethics, politics, and social justice. It extends SCT into digital-financial contexts and enriches agenda-setting theory by foregrounding participatory and algorithmic dynamics, while underscoring the urgency of ethical and inclusive fintech governance. © 2025 Center for Asian Public Opinion Research and Collaboration Initiative. All rights reserved.
Mercu Buana University, Indonesia; LSPR Institute of Communication and Business, Indonesia; State University of Jakarta, Indonesia
Research at a Glance
Register to unlock
Topics & SDG Alignment
Register to unlock
Collaboration
Register to unlock
Author Profile (Selected)
Register to unlock
References Overview
Register to unlock
Journal & Source
Register to unlock
Metadata & Integrity
Register to unlock