Role of Institutional Trust and User-Generated Content in Shaping E-Commerce Intentions across Borders: Integrating Technological, Institutional, and Social Perspectives amongst Southeast Asian Millennials

Purpose: This study investigates how institutional trust and user-generated content shape cross-border e-commerce (CBEC) intentions among Southeast Asian millennials. It examines the roles of website quality, perceived risk, platform and seller trust, and cultural dimensions in influencing consumer trust and purchase intention across Indonesia, Malaysia, and Vietnam. Design/Methodology/Approach: Primary survey data were collected from 367 millennial online shoppers (aged 25–40) who had recently engaged in CBEC. A stratified sampling strategy ensured urban–semi-urban representation. Using validated multi-language scales, responses were analyzed through PLS-SEM (SmartPLS 4.0; Stata 18). The model tested direct, moderated, and cross-country effects, incorporating individualism and uncertainty avoidance as moderators and applying multigroup analysis for robustness. Findings: Perceived risk exhibits a marginal negative effect on trust, while website quality and third-party seals show limited influence. Cultural dimensions weakly moderate trust–intention relationships, and cross-country differences are statistically insignificant. Overall explanatory power remains low, suggesting contextual limits of universal trust models. Implications/Originality/Value: The study highlights the diminishing relevance of symbolic trust cues in CBEC and underscores the need for structural, institutional, and culturally aligned mechanisms to enhance consumer confidence in rapidly digitalizing Southeast Asian markets.