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Rahul Sihombing

Jurnal Pendidikan Agama dan Teologi 2026 International Forum of Researchers and Lecturers

The church has a strategic role not only in spiritual development, but also in the social and economic empowerment of the congregation. One relevant approach to address the challenges of congregational welfare is Theopreneurship, namely entrepreneurship based on Christian faith values. This study aims to determine how the form of pastor's mentoring as Theopreneur in improving the welfare of the congregation at HKI Resort Pulo Siborna, Panei District. The approach used is descriptive qualitative with data collection methods through interviews, observation, and documentation. The results of the study show that the pastor plays an active role as a facilitator, motivator, and spiritual guide in assisting the congregation in developing businesses based on faith values. The socio-economic development (PSE) program, which covers agriculture and animal husbandry, has successfully fostered an entrepreneurial spirit, togetherness, and the economic independence of the congregation. The pastor's mentoring as a Theopreneur has proven to be able to provide holistic services that emphasize not only the spiritual aspect but also the economic empowerment of the congregation. Thus, the pastor's mentoring as Theopreneurship has a positive contribution in improving the welfare of the congregation holistically, encompassing spiritual, social, and economic aspects. Therefore, Theopreneurship can be a model of contextual and sustainable church service in realizing the welfare of the congregation as a whole.

Jefrianto Gailya; Jonathan Leobisa; Yakobus Adi Saingo

Jurnal Pendidikan Agama dan Teologi 2026 International Forum of Researchers and Lecturers

The digital era presents various opportunities as well as challenges in the world of education, particularly in the formation of student character. The development of technology, social media, and the unlimited flow of information influence the way students think, act, and behave. This condition demands the role and responsibilities of Christian Religious Education (PAK) Teachers that are increasingly complex and strategic. This study aims to describe the responsibilities of PAK Teachers in the formation of student character in the digital era. The research method used is a qualitative method with a literature study approach. Data were collected through a review of scientific journals, academic books, and theoretical sources relevant to the research topic. The results of the study indicate that PAK Teachers are not only responsible for conveying Christian faith material, but also guiding students in internalizing and practicing Christian values such as love, honesty, responsibility, self-control, and empathy, both in real life and digitally. PAK Teachers act as educators, role models, guides, and spiritual counselors who integrate character education into the learning process. In addition, PAK Teachers are required to have adequate pedagogical, professional, personality, and social competencies, as well as the ability to utilize technology wisely. Collaboration with parents and schools is a crucial aspect in sustainably shaping students' character. Thus, Christian Religious Education teachers act as agents of transformation in shaping a generation with Christian character ready to face the challenges of the digital era.

Aini Okta Alfiana; Tria Patrianti

Konsensus : Jurnal Ilmu Pertahanan, Hukum dan Ilmu Komunikasi 2026 Asosiasi Peneliti Dan Pengajar Ilmu Sosial Indonesia

The phenomenon of the increase in virtual events after the Covid-19 pandemic has encouraged companies to use them as a communication strategy to strengthen their image in the digital era. Ekrutes.Id, as a technology-based recruitment platform, has taken advantage of this momentum by organizing the Ekrutalks virtual event, which is designed to introduce its services and build the image of a company based on a smart system. This research aims to describe the management of the Ekrutalks virtual event organized by Ekrutes.Id and analyze its role in building the company's image. The research uses a qualitative approach with a descriptive method. Data was collected through interviews, observations, and documentation. Data analysis was conducted using Saiddel's interactive model, which includes the stages of data reduction, data presentation, and conclusion drawing to obtain a comprehensive understanding of the phenomenon being studied. The results of the study indicate that Ekrutalks management runs in accordance with Goldblatt's five stages, namely research, design, planning, coordination, and evaluation. The research stage serves to identify audience needs, while design and planning emphasize creativity in selecting themes, speakers, and digital platforms. Meanwhile, coordination and evaluation are carried out in a structured manner to ensure the sustainability of the event. Through systematic implementation, Ekrutalks is able to build the image of Ekrutes.Id as a professional, adaptive, and technology-based recruitment platform. Thus, virtual events not only serve as a means of communication, but also become an effective strategy in shaping the company's image in the digital era.

Saidatun Ni’mah; Indra Kertati; Christian Charis

International Journal of Public Health 2026 Asosiasi Riset Ilmu Kesehatan Indonesia

This study aims to analyze the discretion of family planning counselors in implementing contraceptive policies and the influence of acceptors' socio-demographic characteristics in Demak Regency. Using a mixed-methods approach with a sequential explanatory design, the study included 89 respondents for quantitative analysis and five key informants for in-depth interviews. The results showed a strong positive correlation between counselor discretion and acceptor socio-demographic characteristics (r = 0.646; p < 0.001), which explained 41.7% of the variance in discretionary practices. Counselors adapted communication strategies based on the age, education, geographic location, and culture of acceptors. Policy implementation faced obstacles in the counselor-community ratio (1:23) and the dominance of short-term contraceptive choices due to socio-cultural influences. Theoretical implications enrich the literature on street-level bureaucracy, while practical implications recommend strengthening counselors' capacity, increasing the ideal ratio, and implementing IEC strategies tailored to local culture. Limitations include a single geographic focus and a cross-sectional design. Future research is suggested to use longitudinal designs and multi-regional comparative studies to explore the dynamics of discretion in different socio-cultural contexts.

Aulianisa Andina Hidayat; Trustorini Handayani; Trenggono Tri Widodo

2026 Asosiasi Riset Ilmu Manajemen dan Bisnis Indonesia

The café industry has become increasingly competitive, including in the Arcamanik District of Bandung City. This study seeks to investigate the extent to which marketing intelligence capabilities influence the competitiveness of café MSMEs in the region. A descriptive and verificative research approach was employed, utilizing linear regression analysis with the assistance of SPSS version 20 software. The study population consisted of 43 café MSME entrepreneurs, selected through a saturated sampling technique, thereby including all members of the population. Data were collected through field studies—comprising questionnaires, interviews, and direct observations—as well as literature reviews to strengthenthe theoretical framework. The results demonstrate that marketing intelligence capabilities have a significant effect on competitiveness. This finding highlights the critical role of marketing intelligence in enabling café MSMEs to sustain their operations and enhance their competitive advantage. Strengthening marketing intelligence can serve as an effective strategic approach for café MSMEs to ensure business sustainability and improve competitiveness. The study suggests that future research may incorporate moderating variables such as digitalization or service quality to further explore the dynamics between marketing intelligence and competitiveness.

Dimas Rahmatullah; Amirul Mustofa; Sarwani Sarwani; Dian Ferriswara

International Journal of Social Sciences and Communication 2026 International Forum of Researchers and Lecturers

Digital transformation has become a central agenda in local governments seeking to improve the effectiveness, accessibility, and reliability of public service delivery, particularly in population administration services that constitute the legal foundation of citizenship. In Indonesia, the Surabaya City Government has implemented the Klampid New Generation (KNG) program as an integrated digital platform for population administration services, aiming to streamline civil registration processes, enhance service quality, and expand citizen access. Despite its technological ambition, the implementation of digital population administration services continues to face persistent challenges related to administrative capacity, especially at the municipal level where services are operationalized and directly experienced by citizens. This issue raises an urgent academic and practical question regarding how administrative capacity shapes the performance and sustainability of digital public services within the broader digital government transformation. This article aims to synthesize and critically evaluate the existing scholarly literature on administrative capacity in the implementation of digital population administration services, with analytical relevance to the KNG program in Surabaya City Government. Employing an integrative literature review design, the study systematically examines peer-reviewed journal articles published between 2021 and 2025, retrieved from Scopus, DOAJ, Google Scholar, and SINTA databases. Articles were selected based on predefined inclusion and exclusion criteria and analyzed using thematic and conceptual synthesis techniques. The review identifies key dimensions of administrative capacity that consistently influence digital service implementation, including institutional and organizational arrangements, human resource competence, technological and infrastructural readiness, regulatory and procedural alignment, inter-organizational coordination, and the role of street-level bureaucrats in frontline service delivery.

Rivelino William Putra Nazara; Habibie Deswilyaz Ghiffari; Ghalib Syukrillah Syahputra; Desy Gusmali Maniarti; Roza Erda

Jurnal Inovasi Riset Ilmu Kesehatan 2026 Pusat Riset dan Inovasi Nasional

Wounds can be defined as the loss and damage of anatomical cells or skin function. Wound healing consists of coagulation, inflammation, proliferation, and remodeling stages. This study aims to determine the effectiveness of the leaf fraction of the thick (Glochidion superbum) on wound healing in male white mice (Mus musculus). This study is experimental. This study used 24 male mice that were given a 10 mm long cut wound. Fractionation was carried out using the liquid-liquid extraction method. Fractionation used 3 different types of solvents, namely methanol, ethyl acetate, and n-hexane. The results showed that the ethyl acetate fraction had a faster wound healing effectiveness than the other groups. The ethyl acetate fraction contains a phenolic compound, namely methyl gallate. Methyl gallate has an important role in wound healing. Methyl gallate has the potential to be an antibacterial, antioxidant, and anti-inflammatory. The results of the Bonferroni post-hoc statistical analysis confirmed the effectiveness of the ethyl acetate fraction in faster wound healing. The thick leaf fraction was effective in healing incisions in male white mice. The ethyl acetate fraction was more effective in accelerating incision healing.

Firhan Mahdavikia; Amirul Mustofa; Sarwani Sarwani; Dian Ferriswara

International Journal of Social Sciences and Communication 2026 International Forum of Researchers and Lecturers

Administrative capacity has long been recognized as a fundamental determinant of governmental effectiveness, yet its role in executive service delivery, particularly in relation to government protocol functions, remains conceptually underdeveloped in public administration scholarship. Existing studies on administrative capacity predominantly focus on policy formulation, implementation, and citizen-facing service delivery, while research on executive governance and executive support systems often treats internal support functions in aggregate terms. As a result, the specific contribution of protocol functions—as administrative, symbolic, and coordinative mechanisms that sustain executive leadership—has been largely overlooked. Addressing this gap, this literature review examines how administrative capacity operates within executive service delivery, with a particular emphasis on government protocol functions as an integral component of executive support and governance coordination. The primary objective of this article is to synthesize and integrate dispersed theoretical and empirical insights to reconceptualize protocol functions within the broader framework of Administrative Capacity Theory. Employing a narrative–integrative literature review approach, the study systematically selected and analyzed peer-reviewed journal articles from major academic databases published within the last five years. The literature was examined through thematic analysis and conceptual synthesis, guided by Administrative Capacity Theory as the core framework and complemented by perspectives on executive service delivery, institutional capacity, street-level bureaucracy, public service professionalism, and governance coordination. The review identifies recurring patterns indicating that effective executive service delivery depends on the interaction of individual-level capacities (professional competence, discretion, and ethics), organizational-level capacities (structures, procedures, and coordination routines), and system-level capacities (institutional arrangements and governance mechanisms).

Salsa Chabita Saraswati; Khoirotun Nadhiroh; Nadia Ananda Putri Ikhtiarni; Faizal Adi Mukti; Ika Wahyu Arlina +3 more

Jurnal Pengabdian Sosial 2026 Lembaga Pengembangan Kinerja Dosen

Micro, Small, and Medium Enterprises (MSMEs) play a vital role in the economy and community independence. However, the great potential of home-based businesses is often hindered by administrative issues related to business legality. This research focuses on UMKM Krecek Kulit Sapi Ashif in Jatirejo Village, which has been operating since 2018 but lacks a Business Identification Number (NIB), Household Industry Food (PIRT) permit, and halal certification due to perceived complex procedures. The main objective of this activity is to strengthen business management through product standardization and obtaining legal certifications to enhance the competitiveness of this MSME. The research method used a descriptive qualitative approach with a community service method based on mentoring, including observation, in-depth interviews, and hands-on practice in managing documents through the Online Single Submission system. The results show that through phased mentoring, UMKM Krecek Kulit Sapi Ashif successfully obtained an NIB and increased the owner’s awareness of PIRT food safety standards and halal certification procedures. The impact of this activity includes meeting administrative legality and improving knowledge, confidence, and professionalism in business management. Intensive mentoring proved crucial in transforming informal businesses into formal, legally protected entities.

Geofanny Edo Pratama; Dian Ferriswara; Sarwani Sarwani; Sri Kamariyah

International Journal of Social Sciences and Communication 2026 International Forum of Researchers and Lecturers

Local governments manage substantial public resources under conditions of decentralization, fiscal complexity, and heightened accountability demands, making them particularly vulnerable to financial mismanagement and fraud. In this context, risk-based internal oversight has increasingly been promoted as a governance-oriented alternative to traditional compliance-based supervision. This literature review article examines how risk-based internal oversight is conceptualized, operationalized, and linked to fraud prevention and control in the management of local government finance. The study addresses a central problem in the existing literature: the fragmentation of analytical perspectives across risk-based internal auditing, fraud risk management, internal control systems, public financial management, and public accountability, which has limited a comprehensive understanding of how internal oversight contributes to safeguarding public funds. The primary objective of this article is to synthesize and integrate these strands of literature to clarify the role of risk-based internal oversight as a systemic governance mechanism for fraud prevention and control at the subnational level. Methodologically, the study employs an integrative literature review approach, drawing on peer-reviewed journal articles and authoritative institutional publications indexed in major academic databases over the past decade. A structured search, screening, and thematic synthesis process was applied to identify patterns, convergences, and divergences across conceptual, empirical, and policy-oriented studies. The findings indicate a clear shift from compliance-oriented inspection toward risk-based internal oversight that prioritizes high-risk financial processes—particularly procurement, grants, and asset management—where fraud risks are most pronounced. The synthesis further shows that effective fraud prevention depends on the alignment of risk-based oversight with fraud risk management practices, robust internal control systems (including SPIP).

Agustinus Abraham

WISSEN : Jurnal Ilmu Sosial dan Humaniora 2026 Asosiasi Peneliti Dan Pengajar Ilmu Sosial Indonesia

The development of digital technology and social media, particularly TikTok, has significantly influenced the learning behavior of elementary school students. This study aims to analyze the impact of TikTok use on the learning behavior of sixth-grade elementary school students through a Systematic Literature Review (SLR) approach. Data were collected from Google Scholar following the PRISMA guidelines, resulting in 200 initial articles, which were then selected to obtain 12 articles relevant to the Indonesian context. The synthesis results show that TikTok has a dual impact. On the positive side, TikTok increases creativity, digital skills, self-confidence, interest in learning, and provides access to interesting and interactive educational content. However, excessive use without supervision has negative effects, such as decreased discipline, concentration, and motivation to learn, the emergence of academic procrastination, and changes in behavior and language that are inappropriate. These findings confirm that the influence of TikTok is greatly affected by parental supervision, the role of teachers, digital literacy, and student self-regulation. Therefore, it is necessary to use TikTok wisely, purposefully, and in an integrated manner in educational policies so that its benefits are optimized and its risks can be minimized.

Andi Isra’ Amalia; Sri Astuty; Abdul Rajab; Muhammad Syafri; Irwandi Irwandi

International Journal of Economics and Management Sciences 2026 Asosiasi Riset Ekonomi dan Akuntansi Indonesia

This study investigates the factors influencing export performance in five ASEAN countries Indonesia, Malaysia, the Philippines, Singapore, and Thailand during the 2014-2023 period. The topic is highly relevant given the vital role of exports in sustaining monetary stability and promoting long-term economic growth. The novelty of this research lies in its integrated approach, which simultaneously examines key export-related macroeconomic variables, namely foreign direct investment and inflation, while incorporating foreign exchange reserves as a moderating variable an approach that remains limited in existing ASEAN-focused studies. This analysis uses secondary data obtained from the World Bank and processed using panel data regression methods, including the Common Effect Model, Fixed Effect Model, and Random Effect Model, strengthened by a Moderated Regression Analysis (MRA) approach. The results show that foreign direct investment and inflation significantly influence foreign exchange reserves. Furthermore, foreign exchange reserves have been shown to play a strategic role in strengthening the economic resilience of ASEAN countries and can be used as a reference in formulating monetary and international trade policies.

Abdihakin Mohamoud Ibrahim

International Journal of Economics, Commerce, and Management 2026 Asosiasi Riset Ekonomi dan Akuntansi Indonesia

This paper examines how Somaliland’s liberalized, privately led telecommunications sector, once a state monopoly and now dominated by local firms, has become a driver of economic growth, financial inclusion, and infrastructure development, with Telesom as the leading example. Drawing on sectoral history, market composition, and coverage data, the study shows how Telesom and its competitors have built nationwide networks, delivered low-cost services, and enabled mobile money-based financial services in the context of weak formal banking. Focusing on Telesom’s ZAAD platform, the paper analyzes its ecosystem business model (salary payments, merchant networks, and high-frequency transactions), its contribution to financial inclusion, and its alignment with international anti–money laundering and customer due diligence standards. At the same time, it identifies ethical and prudential gaps, especially the absence of formal deposit protection, limited transparency in financial reporting and taxation, and the lack of an independent telecommunications regulator, which pose risks to consumers and systemic stability. Overall, the paper argues that Telesom illustrates how sustainable finance in telecommunications can combine innovation, inclusion, and profitability, provided that stronger governance, disclosure, and consumer protection frameworks are implemented to secure long-term sector resilience. 

Dwi Ela Rahmawati; Musthafa Kamil

Jurnal Manajemen dan Ekonomi Bisnis 2026 Pusat Riset dan Inovasi Nasional

The work environment and teamwork are factors that play a role in improving employee performance, especially in the administration division which has a crucial role in supporting the smooth operation of the company. Unsupportive work environment conditions and suboptimal teamwork can have an impact on declining employee performance. Therefore, this study aims to determine the effect of the work environment and teamwork on improving the performance of employees in the administration division of PT Rick Auto. The method used is a quantitative method with a data collection technique through distributing questionnaires to all employees of the administration division of PT Rick Auto as many as 60 respondents using a saturated sampling technique. Data analysis was carried out using SPSS version 26 through multiple linear regression tests, t-tests, f-tests, and coefficient of determination tests. The results of the study indicate that partially the work environment does not have a significant effect on improving employee performance, while teamwork has a positive and significant effect on improving employee performance. Simultaneously, the work environment and teamwork have a significant effect on improving employee performance in the administration division of PT Rick Auto.

Aulianisa Andina Hidayat; Trustorini Handayani; Trenggono Tri Widodo

Maeswara : Jurnal Riset Ilmu Manajemen dan Kewirausahaan 2026 Asosiasi Riset Ilmu Manajemen Kewirausahaan dan Bisnis Indonesia

The café industry has become increasingly competitive, including in the Arcamanik District of Bandung City. This study seeks to investigate the extent to which marketing intelligence capabilities influence the competitiveness of café MSMEs in the region. A descriptive and verificative research approach was employed, utilizing linear regression analysis with the assistance of SPSS version 20 software. The study population consisted of 43 café MSME entrepreneurs, selected through a saturated sampling technique, thereby including all members of the population. Data were collected through field studies—comprising questionnaires, interviews, and direct observations—as well as literature reviews to strengthenthe theoretical framework. The results demonstrate that marketing intelligence capabilities have a significant effect on competitiveness. This finding highlights the critical role of marketing intelligence in enabling café MSMEs to sustain their operations and enhance their competitive advantage. Strengthening marketing intelligence can serve as an effective strategic approach for café MSMEs to ensure business sustainability and improve competitiveness. The study suggests that future research may incorporate moderating variables such as digitalization or service quality to further explore the dynamics between marketing intelligence and competitiveness.

Andi Isra’ Amalia; Sri Astuty; Abdul Rajab; Muhammad Syafri; Irwandi Irwandi

2026 Asosiasi Riset Ilmu Manajemen dan Bisnis Indonesia

This study investigates the factors influencing export performance in five ASEAN countries Indonesia, Malaysia, the Philippines, Singapore, and Thailand during the 2014-2023 period. The topic is highly relevant given the vital role of exports in sustaining monetary stability and promoting long-term economic growth. The novelty of this research lies in its integrated approach, which simultaneously examines key export-related macroeconomic variables, namely foreign direct investment and inflation, while incorporating foreign exchange reserves as a moderating variable an approach that remains limited in existing ASEAN-focused studies. This analysis uses secondary data obtained from the World Bank and processed using panel data regression methods, including the Common Effect Model, Fixed Effect Model, and Random Effect Model, strengthened by a Moderated Regression Analysis (MRA) approach. The results show that foreign direct investment and inflation significantly influence foreign exchange reserves. Furthermore, foreign exchange reserves have been shown to play a strategic role in strengthening the economic resilience of ASEAN countries and can be used as a reference in formulating monetary and international trade policies.

Alifia Pasa Afryliyani; Joko Joko

Globe: Publikasi Ilmu Teknik, Teknologi Kebumian, Ilmu Perkapalan 2026 Asosiasi Riset Ilmu Teknik Indonesia

Education plays a crucial and essential role in improving the quality of human resource globally, thus a research was conducted with the aim of producing a product, namely a learning module. This module is one of the learning resources that can be used by students independently. Therefore, the module was developed to function as a learniing guide for students. The lerning model used in this research is Creative Problem Solving. In this learning model, the teacher presents problems so that students can find answers innovatively and sharpen  their critical thinking skills. The suitability of this learning module will be evaluated based on three aspect, namely validity, practicality, and effectiveness. Based on the research sample data, this consists of students from class XI Electrical Power Installation Techniques (TITL) 1 at SMKN 1 Driyorejo. This method uses the Research & Development (R&D) approach. The analysis of differences in learning outcomes was carried out using the One Group Pretest-Posttest Method, the treatment in the form of a learning module based on the Creative Problem Solving model was given to student. The research result show that (1) the modules suitability is stated as very valid wth a score of 89,60, (2) aspect, it is stataed as very practical with a total average reaching 90,60, (3) effectiveness is proven from the improvement in learning outcomes in terms of knowledge and domains with an average pretest score of 51,3, while the average posttest score is 85 with a significance of 0.000.

Ulinnuha Ulinnuha; Nadofah Nadofah; Aditya Rachman; Rini Sulastri; Diofani Diofani

Jurnal Riset Rumpun Ilmu Bahasa 2026 Pusat riset dan Inovasi Nasional

The moral crisis continues to be a concern for Indonesian society today. Therefore, reading literacy in elementary schools is an appropriate strategy that is not only oriented towards the ability to understand texts but also plays an important role in the formation of students' morals and character. The selection of literacy reading materials needs to be adjusted to the stage of moral development of students so that the values contained in the reading can be understood and internalized optimally. This article aims to examine the criteria for literacy reading materials based on the moral development of elementary school students based on Banten Province folklore. The method used is a literature study by analyzing the theory of children's moral development, criteria for selecting literacy reading materials, and moral values contained in Banten folklore. The results of the study indicate that Banten Province folklore has great potential as literacy reading materials that are appropriate to the moral development of  elementary school students because they contain values of honesty, responsibility, hard work, courage, leadership, empathy, social concern, and religiosity. Thus, Banten folklore is relevant to be used as literacy reading materials that support character learning in elementary schools.

Isnan Sarwo Prasetyo

Jurnal Praba : Jurnal Rumpun Kesehatan Umum 2026 STIKES Columbia Asia Medan

This study focuses on an in-depth analysis of how digital marketing strategies influence the decisions of residents of Mencirim Village, East Binjai District in purchasing health products. The scope of digital marketing studied includes social media platforms, the effectiveness of online advertising, the depth of marketing content, and the role of electronic reviews or electronic word of mouth (e-WOM). Using a quantitative approach with a survey method, this study involved 100 respondents selected through a purposive sampling technique. The main criteria for respondents were residents aged at least 17 years who had actively transacted health products digitally in the last three months. Data were collected through a 5-point Likert scale questionnaire and processed using multiple linear regression analysis with the help of IBM SPSS Statistics 26. The research findings revealed that partially, social media (β = 0.312), online advertising (β = 0.287), marketing content (β = 0.241), and e-WOM (β = 0.198) had a positive and significant influence on consumer purchasing decisions (p < 0.05). Collectively, the integration of these four variables explains 68.4% (R² = 0.684) of the dynamics of local purchasing decisions.

Alvina Ghalda; Tri Sulistyani

Jurnal Manajemen dan Ekonomi Bisnis 2026 Pusat Riset dan Inovasi Nasional

The assessment of a company's value is crucial for investors to identify its prospects and performance. Financial ratios such as the Current Ratio (CR) and Return on Assets (ROA) are used to analyze factors affecting the company's value. This study aims to analyze the impact of CR and ROA on company value in manufacturing companies within the Miscellaneous Industries sub-sector for the period 2015–2024. The study uses a quantitative approach with data from annual financial reports of companies listed on the Indonesia Stock Exchange. Data analysis is conducted using panel data regression with the Random Effect Model (REM) as the best model. The dependent variable is company value, measured by Price to Book Value (PBV), while the independent variables consist of CR and ROA. The results show that CR does not have a significant effect on company value, while ROA significantly affects company value. Simultaneously, CR and ROA are proven to significantly affect company value, indicating that the combination of liquidity and profitability plays an important role in explaining PBV variations. This finding suggests that investors pay more attention to profitability than liquidity in the Miscellaneous Industries sector.