Technology development has grown to be important in many fields, including the economy. E-commerce has become the main medium in the digital economy due to the sector's rapid development. Due to a change in people's purchasing habits and their growing reliance on online platforms, e-commerce has grown significantly in Indonesia in recent years (Dewi et al., 2024). One of the latest innovations in e-commerce is the emergence of live-streaming platforms for product promotion and sales. (Liu et al., 2022). As a major social media platform, TikTok has integrated live-streaming functionalities to facilitate e-commerce endeavors. According to a Statista report, Indonesia became the world's most significant number of TikTok users in 2024, achieving 157.6 million users, over the United States' 120.5 million (Putri & Pratomo, 2024)

The popularity of TikTok has led to significant changes in people's shopping behavior, primarily through its interactive live-streaming feature. However, while this feature attracts users' attention, not all live streams lead to increased sales. Other factors, such as technology-based recommendations, influence consumers' purchasing decisions. A report from Lazada shows that 88% of consumers make purchases based on artificial intelligence (AI) recommendations, which provide a more personalized shopping experience by suggesting products that match user preferences (Idris, 2024). This shows that consumers increasingly rely on technology to make purchasing decisions, not merely follow promotions through live streaming.

Purchasing decisions occur when consumers purchase various choices and choose one or more based on specific considerations Amirullah (2002 in Liana, 2021). Purchasing decisions are also a complex process involving various considerations, including product information, recommendations from other parties, and consumers' emotional experiences. Influencers, as prominent figures on social media, have a significant role in molding consumer perceptions and attitudes toward a product. With an authentic and personalized approach, Influencers can have a considerable impact on purchasing decisions. However, the effectiveness of marketing through Influencers does not always run smoothly. The local skincare brand BHUMI, which has won the Female Daily Best Beauty Award in 2020 and 2024, has experienced a decline in sales when live streaming on TikTok (Purwanti, 2023). This shows that the success of marketing strategies through live streaming is highly dependent on the effectiveness of Influencers in building connections with audiences.

Influencer marketing on social media has transformed into an effective marketing instrument, particularly within e-commerce live streaming (Stubb et al., 2019). Consumers who experience alignment between the initial experience delivered by the Influencer through live streaming and the experience after purchase tend to have higher trust and attachment to the product (Wu et al., 2022). According to Rossiter and Percy (2021) (Alifa & Saputri, 2022), four dimensions can measure Influencer marketing: visibility, credibility, attractiveness, and power.

In addition to Influencer factors, perceived value and consumer emotions also play an important role in purchasing decisions through live streaming.

Value is a consumer's subjective evaluation of the advantages obtained from a product or service relative to the costs incurred. Value itself is measured chiefly from the customer's point of view, so it is commonly referred to as customer value. As stated (Kotler & Keller, 2016), the difference between a potential customer's assessment of all the costs and benefits of a specific offer and other options is known as customer value. Meanwhile, according (Y. Zhao, 2024), Emotion is a psychological and physiological response to an object or event that influences decision-making through cognitive appraisal of the object or event. Stimuli from the environment, such ads or brands, can elicit emotions, which then affect how consumers make decisions. Distinct emotions have distinct effects on decisions. For instance, although negative emotions might cause fear- driven decisions like panic selling, good emotions can inspire more risk (Charles & Kasilingam, 2015).

Given this backdrop, the purpose of this study is to investigate how influencers affect consumer choices by considering how emotions and perceived value function as mediators in the context of TikTok live streaming. Specifically, this study seeks to answer the following questions: (1) Do consumers' perceived emotions when watching Influencers' live streams influence purchase decisions?

(2) Do consumers' perceived values from Influencers influence purchase decisions?

This study is anticipated to add to the body of knowledge on digital marketing, especially when it comes to TikTok live-streaming commerce. It seeks to close the gap in the research and offer fresh perspectives on the efficacy of influencer marketing in live-streaming-based e-commerce by investigating the function of Value and Emotion as mediators.

Influencers play a significant role in live-streaming commerce by offering in-the-moment product suggestions and fostering a more customized buying experience. Numerous prior studies have demonstrated how Social Media Influencers (SMIs) can increase brand identification and buying decisions through their powerful presence (Lou & Yuan, 2019)

H1: Influencers Influence Purchasing Decisions

Influencers can increase consumers' perceived Value of their products. These results align with research (Ahmed & Nasir, 2024). They identified that the functional and emotional value built during interactions with Influencers plays an important role in driving impulse purchase decisions.

H2: Influencers Influence Perceived Value

Influencers have a significant influence on the parasocial relationships and emotions felt by the audience. These parasocial relationships trigger positive emotions, such as a sense of connectedness or trust, which influence purchase decisions (Sharkasi & Rezakhah, 2023).

H3: Influencers have an influence on Perceived Emotions

The Value perceived by consumers, including functional, emotional, and social aspects, also influences purchase decisions (Guo et al., 2021).

H4: Perceived Value can influence purchasing decisions.

Consumers and influencers in live streaming sessions can increase consumers' trust and emotional engagement with a product (Wongkitrungrueng & Assarut, 2020). Consumers who experience emotional engagement during live streaming tend to be more easily encouraged to purchase (Pedada et al., 2021).

H5: Perceived Emotions can influence Purchasing Decisions.

Perceived Value mediates the relationship between influencers and consumer purchase decisions on Instagram (Zhao et al., 2024). Influencers can increase consumers' perceived Value of products through their advertisements, and this Value then significantly influences purchase decisions.

H6: Perceived Value mediates the relationship between the Influencer and the Purchase Decision.

FOMO (Fear of Missing Out), a form of Emotion, is a significant mediator between influencer marketing and product purchase decisions (Patrisya et al., 2025). Influencer marketing influences FOMO, which mediates this influence on purchase decisions.

H7: Perceived Emotion mediates the relationship between the Influencer and the Purchase Decision.

This study has independent factors, namely influencers, and dependent variables, namely purchasing decisions, with two moderating variables, emotions and perceived value. This study examines influencers' impact when live streaming on the TiktokShop app using quantitative research techniques. The population of this study was individuals in Cirebon City. Using the formula to determine the study's sample size Hair’s theory in (Depari & Jocellyn, 2024). due to the fact that the population size is uncertain depending Hair’s theory; generally speaking, researchers will not examine sample components with fewer than 50 observations; ideally, the sample size will be 100 or more. Generally speaking, a sample size of 10:1 is more appropriate, and the minimum number of observations must be at least five times greater than the number of variables to be examined. For every variable, some researchers even suggest at least 20 cases. This survey includes a total of 36 question indicators. Therefore, the sample used was a minimum of 36 x 5 = 180 samples generated using Google Forms (online questionnaire). The analysis technique used Smart PLS 3.

Of the seven hypotheses tested in this study, all were accepted because they showed positive and statistically significant results. One of the accepted hypotheses is Hypothesis 1 (H1), which states that influencer marketing significantly affects purchasing decisions. Based on the parameter estimation results, a t-count value of 13.125 is obtained, substantially greater than the t-table Value of 1.973 at the 5% significance level. In addition, the p-value of 0.000, which is below the 0.05 threshold, also strengthens the significance of the effect. The coefficient of influence of 0.494 indicates that the better the influencers' performance in promoting products, the higher the level of consumer purchasing decisions. Hypothesis 1 can accept this, meaning that marketing through influencers partially influences product purchasing decisions through TikTok Live. This phenomenon is in line with the development of consumer behavior today, In which about half of the world population actively uses different social media platforms, including TikTok. These platforms have developed into essential channels in commercial activities. In particular, the live streaming feature is widely used to sell various products. Therefore, in product promotion through social media, the role of skilled and active influencers is crucial in creating a positive impression, driving emotional engagement, and increasing the enthusiasm of potential customers to make a purchase.

Hypothesis 2 stipulates that influential people have a significant influence on cognitive value. Based on the results of the parameter estimate, the value of the counter t 29,615 was obtained, significantly higher than the 1,973 T table in 5%. In addition, the value P is 0,000, below the threshold of 0.05, showing that this effect has statistical significance. The coefficient of influence of 0.820 indicates that the quality and reliability of the person who influences the higher the value of consumers, the more promoted the product. Thus, Hypothesis 2 is accepted, meaning that influencers partially influence the Value perceived by consumers. This finding aligns with previous research conducted by (Ahmed & Nasir, 2024), which found that an influencer's presence and active role can increase consumer perceptions of product benefits and quality. Thus suggests that influencers not

only play a role in influencing purchasing decisions directly but also in shaping consumers' perceptions of the Value of the products offered.

Hypothesis 3 in this consideration states that influencers have a noteworthy impact on feelings felt by buyers. Based on the parameter estimation, a t-count esteem of 25.326 is more noteworthy than the t-table Esteem of 1.973 at the 5% centrality level. In expansion, the p-value of 0.000, below the 0.05 limit, demonstrates that the impact is measurably noteworthy. The impact coefficient of 0.826 shows that the superior the execution and allure of an influencer, the higher the escalated feelings buyers feel towards the advanced item. In this way, Speculation 3 is acknowledged, which suggests that influencers have a halfway impact on the feelings felt by the gathering of people. This finding adjusts with past investigations conducted by (Sharkasi & Rezakhah, 2023), which uncovered that influencers impact parasocial connections and groups of onlookers' enthusiastic engagement. Personalized and passionate intelligence between influencers and their adherents on social media, essentially through live-streaming highlights, can increment mental closeness, eventually empowering shoppers to obtain choices.

Hypothesis 4 in this ponder states that Esteem influences obtaining choices. Based on the parameter estimation, a t-count esteem of 4.222 is gotten, altogether more prominent than the t-table Esteem of 1.973 at the 5% centrality level. In expansion, the p-value of 0.000, underneath the importance constraint 0.05, shows that the relationship is measurably critical. The impact coefficient esteem of 0.334 demonstrates that the higher the Esteem seen by customers towards an item, the more prominent the consumer's inclination to create a buy. Thus, Hypothesis 4 is accepted, meaning that perceived Value partially influences purchasing decisions. This finding supports the results of previous research by (Guo et al., 2021), which states that the Value perceived by consumers, which includes functional, emotional, and social aspects, plays an important role in influencing purchasing decisions. When consumers feel that a product provides benefits or value more than just price, the likelihood of purchasing will increase.

Hypothesis 5 in this ponder states that seeing feelings influences obtaining choices. Based on the parameter estimation that comes about, a t-count esteem of

2.206 is obtained, essentially more prominent than the t-table Esteem of 1.973 at the 5% centrality level. Besides, the impact is factually critical, as demonstrated by the p-value of 0.029, which is less than the noteworthiness level of 0.05. The impact coefficient of 0.189 shows that the higher the level of feeling felt by buyers amid the advancement preparation or interaction with influencers, the more prominent the propensity of buyers to form buys. In this way, Speculation 5 is acknowledged, meaning that seen feelings primarily impact obtaining choices. This finding is reliable with the comes about of past inquiries by (Pedada et al., 2021), which state that customers who involvement passionate engagement amid live-streaming sessions, such as feeling upbeat, engaged, or associated with the Influencer, tend to display more imprudent and fast obtaining behavior. Such passionate engagement is critical in forming buy-eager behavior within the advanced setting. Hypothesis 6 states that Value intercedes the impact of influencers on purchasing decisions on TikTok Live. The estimation comes with a t-count of 4.053

> t-table 1.973 and a p-value of 0.000. That is, perceived Value is a significant mediator between influencers and purchasing decisions. This finding supports the assertion of (X. Zhao et al., 2024), which reveals that influencers can increase consumers' perceived Value through delivered advertisements, and these perceptions significantly drive purchasing decisions.

Hypothesis 7 posits that the emotions individuals perceive function as mediators in the relationship between influencers and purchasing decisions within TikTok Live. The estimation results reveal that the t-count value is 2.224, which exceeds the t-table value of 1.973, and the p-value is 0.027, which is less than the significance threshold of 0.05, thereby indicating a statistically significant effect. Consequently, perceived emotions serve as a substantial mediator in the nexus between influencers and purchasing decisions. This conclusion aligns with the findings of (Patrisya et al., 2025), which demonstrate that influencer marketing can elicit the Fear of Missing Out (FOMO). This emotional reaction mediates the impact on consumer purchasing behaviors.

This study shows that TikTok live-streaming influencers have a significant influence on Cirebon consumers' decisions to buy. The study emphasizes the critical roles that mediating factors like perceived worth and perceived emotion play in enhancing this link, in addition to the direct influence of influencers. With an R-squared value of 92.8%, data analysis reveals that these mediators account for significant variation in purchase decisions.

Because perceived value and perceived emotion both serve as middlemen and intensify the influencer's impact on buying decisions, the mediating variables are especially important. Perceived value's social worth and perceived emotion's unpleasant feelings have the most effects, suggesting that social and emotional variables are crucial when making live streaming purchases. According to this, influencers draw attention and cultivate the feelings and worth that motivate customers to make purchases.

The primary goal of this study is to increase knowledge about digital marketing, particularly regarding live streaming e-commerce in Indonesia. The study improves understanding of how influencers impact consumer choices by using perceived value and perceived emotion as mediators. The results highlight how crucial it is to produce emotional experiences and perceived value to increase the efficacy of influencer marketing on sites such as TikTok.

Several recommendations are offered in light of these findings. Governments and regulators can promote a robust live-streaming e-commerce environment by educating people about digital marketing ethics and consumer safety. Companies and influencers can emphasize value and emotion in their content for more successful marketing initiatives and cultivate an emotional bond with their audience. To enhance future studies, future studies could consider broadening the respondents' demographics and geographic reach as well as investigating other factors, including service quality, brand trust, and regional cultural influences.

Future research can examine other variables such as product type, broadcast duration, and consumer interaction with Influencers. Demographic aspects such as age, gender, and economy should also be considered. In addition, the study can be extended to other platforms, such as Instagram Live or Shopee Live, for a broader understanding of consumer behavior.

Praise and gratitude are due to God Almighty for His abundance of grace, love, and gifts that have enabled the author to complete this student final project research / scientific work with the title “The Influence of Influencers on Purchasing Decisions with the Mediating Role of Value and Perceived Emotions on Tiktok Live.”

The preparation of this student's final project scientific work is an important part of the academic process that the author undergoes. The author realizes that the success in completing this research cannot be separated from the support of various parties who have contributed directly and indirectly.

The author expresses deep gratitude to the supervisor for his guidance, direction, and patience in providing input during the research and writing. Thanks are also extended to the respondents who have been willing to take the time to fill out this research questionnaire.

Not to forget, the author's sincere appreciation goes to my beloved family and friends, who always provide encouragement, support, and prayers while preparing this final student project. Without their support, the completion of this student's final project would not have run smoothly.

The author realizes that this scientific work of the student's final project still has shortcomings. Therefore, the author looks forward to constructive criticism and suggestions for future improvements. Hopefully, this research can provide benefits, especially in digital marketing and consumer behavior studies in the live-streaming era.