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This study investigates the relationship between corporate governance characteristics, financial structure, and Enterprise Risk Management (ERM) disclosure in Indonesian non-financial firms. Focusing on manufacturing companies listed on the Indonesia Stock Exchange in 2023, the analysis examines whether board size, the proportion of independent commissioners, and leverage influence the extent of ERM disclosure. Using a quantitative approach, multiple linear regression is applied to secondary data obtained from firms’ annual reports. The findings indicate that board size and the proportion of independent commissioners do not have a significant effect on ERM disclosure, while leverage exhibits a positive and significant relationship. This result suggests that firms with higher debt levels are more inclined to enhance risk disclosure as a mechanism to address information asymmetry and demonstrate accountability to investors and creditors. The study contributes to the ERM and corporate governance literature by providing evidence from an emerging market setting and highlighting the practical importance of financial structure in shaping risk transparency, offering relevant insights for corporate decision-makers and regulators to strengthen sustainable risk management practices.

This study aims to analyze the effect of sustainability report disclosure, audit committee meeting frequency, liquidity, leverage, and total asset turnover on profitability in mining companies listed on the Indonesia Stock Exchange (IDX) during the 2021–2023 period. Profitability is measured using Return on Equity (ROE). This research adopts a quantitative approach using secondary data obtained from annual financial statements and sustainability reports. The sample was selected using purposive sampling, yielding 34 mining companies with 102 observations in total. Multiple linear regression analysis was employed after fulfilling classical assumption tests. The results indicate that sustainability report disclosure, audit committee meetings, liquidity, leverage, and total asset turnover simultaneously have a significant effect on profitability. However, partially, total asset turnover has a positive and significant impact on profitability. Meanwhile, sustainability report disclosure, audit committee meeting frequency, liquidity, and leverage do not significantly affect profitability. These findings suggest that asset utilization efficiency plays a crucial role in improving profitability in the mining sector. This study is expected to provide insights for companies, investors, and regulators to understand the determinants of profitability better and to support improved corporate governance and financial decision-making in mining companies.

This study aims to evaluate the effects of profitability, leverage, liquidity, and cash-flow shocks on the financial distress of companies in the hotel, restaurant, and tourism subsector listed on the Indonesia Stock Exchange during the period 2021 to 2024. The research approach employed is quantitative, using logistic regression analysis. The data analyzed are secondary data obtained from the annual financial statements of the respective companies. The results of the study indicate that, simultaneously, the four independent variables significantly influence financial distress. However, based on partial testing, each variable, namely Return on Assets (ROA), Debt to Equity Ratio (DER), Current Ratio (CR), and cash flow shock, does not show a significant relationship with financial distress. These findings imply that the risk of financial distress in this industry cannot be explained solely through a single financial indicator; instead, a more holistic approach is required. This study provides essential contributions to both management and investors in assessing companies' financial condition and formulating appropriate strategic decisions.

This study aims to analyze the effect of profitability, leverage, and liquidity on firm value in food and beverage sub-sector companies listed on the Indonesia Stock Exchange (IDX) for the 2020–2024 period. Profitability is measured by Return On Assets (ROA), leverage by Debt to Equity Ratio (DER), and liquidity by Current Ratio (CR), while firm value is proxied by Price to Book Value (PBV). The study employs a quantitative approach using multiple linear regression analysis. The sample consists of 25 companies selected through purposive sampling, with a total of 125 secondary data observations obtained from annual financial statements. The results indicate that, partially, profitability, financial risk, and liquidity have a positive and significant effect on firm value. Simultaneously, the three independent variables also significantly affect firm value, with an adjusted R² of 43.4%, meaning that 56.6% of the variation in firm value is explained by other factors outside the model. These findings support agency theory and signaling theory, which suggest that strong financial performance, optimal debt management, and adequate liquidity provide positive signals to investors, thereby enhancing firm value.

This study examines how company size, asset growth, tangibility, leverage, and total asset turnover affect profitability in consumer manufacturing companies listed on the Indonesia Stock Exchange from 2019 to 2023, using secondary data collected via purposive sampling. The independent variables in this study include the natural logarithm of total assets, asset growth (this year’s total assets relative to the previous year), and tangibility (the fixed asset ratio to total assets). Leverage uses the debt-to-asset ratio, and total asset turnover uses the total asset turnover ratio, while the dependent variable of profitability uses return on assets. Of the 108 companies in the population, 19 that met the research sample criteria were selected, yielding 95 observations. Data analysis was conducted using multiple linear regression, accompanied by classical assumption tests and hypothesis testing through F-tests and t-tests. The findings of this study reveal that asset growth has a significant positive effect on profitability, while leverage shows a significant negative effect. However, firm size, tangibility, and total asset turnover do not exhibit significant relationships with profitability. This study contributes both theoretically and practically to understanding the internal determinants of financial performance in the consumer sector and serves as a reference for management.

This study aims to analyze the effect of asset growth, capital structure, and asset structure on the profitability of PT Astra Graphia Tbk during the period 2016–2023. The research employs a quantitative approach with a causal research design using secondary data derived from the company’s quarterly financial statements. A total of 32 quarterly observations were selected through purposive sampling. Profitability is measured using Return on Equity (ROE), while data analysis is conducted using multiple linear regression. Prior to hypothesis testing, classical assumption tests including normality, multicollinearity, heteroskedasticity, and autocorrelation tests were performed to ensure the robustness of the regression model. The results indicate that asset growth, capital structure, and asset structure simultaneously have a significant effect on firm profitability. However, partially, only asset structure has a significant effect on profitability, while asset growth and capital structure show no significant influence. These findings suggest that efficient asset composition plays a more critical role in improving profitability than mere asset expansion or increased leverage. The managerial implication of this study highlights the importance of optimizing asset structure to enhance the firm’s ability to generate sustainable profits.

This research aims to analyze the role of internal social media (ISM) in facilitating collaboration and innovation among employees within organizations. With the increasing adoption of digital platforms in the workplace, ISM has become an important tool for enhancing communication, knowledge sharing, and social interaction. This study explores how the use of ISM influences employee collaboration, leading to increased innovation and overall organizational performance. Through surveys and interviews with employees across various industries, this research gathers data on ISM usage, perceptions of collaboration, and levels of innovation. The results of the study indicate that ISM plays a significant role in enhancing employee collaboration by providing a platform for easy communication, information sharing, and community building. Furthermore, the study finds that collaboration facilitated by ISM positively impacts employee innovation, leading to the development of new ideas, improved processes, and enhanced products. This research highlights the importance of ISM in fostering a culture of collaboration and innovation within organizations and provides practical insights for organizations looking to leverage ISM for competitive advantage.

The digital era demands that organizations be fast-moving, adaptable, and innovative. With the advancement of information technology, changes in work methods, global competition, and stakeholder demands are becoming increasingly complex. Knowledge Management (KM) plays an important role as a strategic mechanism for identifying, acquiring, storing, sharing, and utilizing knowledge to improve organizational effectiveness and efficiency. In this context, knowledge management becomes one of the important elements for organizations to enhance performance. Knowledge management is not just about collecting data or information, but how organizations can store, share, create, and utilize knowledge to gain a competitive advantage. This article aims to analyze the importance of knowledge management for organizational performance in the digital age, including how the digital era changes the dimensions of knowledge management, how knowledge management contributes to organizational performance, the challenges faced, and their implications. The data obtained for this study were gathered from observations thru interviews with relevant parties and a literature review study by examining the results of empirical research from the past five years (2020–2025). The method used was descriptive literature analysis of 15 scientific articles from accredited national journals. The analysis focuses on the relationship between knowledge management dimensions (knowledge creation, storage, sharing, and application) and organizational performance indicators (financial performance, innovation, productivity, and customer satisfaction). The study results show that the implementation of knowledge management significantly contributes to improving organizational performance, both directly thru increased efficiency and effectiveness of work processes, and indirectly thru strengthening a culture of innovation and organizational learning. This article asserts that an organization's success in the digital age is not solely determined by its ability to adopt technology, but also by its ability to manage and leverage knowledge as a strategic resource. Therefore, knowledge management needs to be systematically integrated into the organization's digital strategy, accompanied by strengthening a learning culture, human resource training, and adaptive information technology systems.

This study aims to determine the influence of Jejuby's TikTok content on the purchasing decisions of followers of the @jejubyofficial TikTok account. In today's digital age, social media platforms like TikTok have become one of the most effective promotional tools for reaching consumers, particularly in the beauty and skincare industry. Jejuby, as a local brand on the rise, actively leverages TikTok as a marketing platform by creating various types of content, including tutorials, testimonials, and visually appealing content. The theories used in this study are the Marketing Communication Theory with dimensions: Advertising, Sales Promotion, Personal Selling, Public Relations, and Direct and Digital Marketing. The Content Theory with dimensions: Credible, Shareable, Useful or Fun, Interesting, Relevant, Different, On Brand. The Purchase Decision Theory with dimensions: Need Recognition, Information Search, Evaluation of Alternatives, Purchase Decision, Post-Purchase Behavior. This study used a quantitative approach with a survey method. Sampling was conducted using simple random sampling and calculated using the Slovin formula with a margin of error of 5%. Data collection was carried out by distributing questionnaires to 92 respondents who were followers of the @jejubyofficial TikTok account. The research instrument was tested using validity and reliability tests, while data analysis was conducted using simple linear regression with a correlation coefficient (R) value of 0.711 in the strong category. The coefficient of determination (R²) value of 0.506 indicates that 50.6% of purchasing decisions are influenced by TikTok content, while 49.4% are influenced by other factors. The research results for TikTok content had an average of 3.47, while purchase decisions had an average of 3.54. The research results indicate that there is a significant influence between Jejuby's TikTok content and its followers' purchase decisions. This means that content packaged in a relevant manner and aligned with the brand's identity can influence consumers' decisions to purchase Jejuby products.

This study aims to determine the effect of green accounting on firm profitability, with firm size, leverage, and liquidity as moderating variables. This research employs a quantitative approach using secondary data analysis derived from annual reports and sustainability reports of energy firms listed on the Indonesia Stock Exchange (IDX) during the 2021–2024 period. The study applies multiple regression analysis. The sampling method used is non-probability sampling with a purposive sampling technique, resulting in 170 observations. The data collection method uses documentation techniques. The results show that green accounting and firm size have a positive effect on profitability, while leverage and liquidity have no effect on profitability. These findings provide important insights into the role of green accounting and firm size in encouraging firms to obtain legitimacy, which can enhance profitability through disclosures in financial reports. The implications of this study demonstrate the application of legitimacy theory and provide benefits to relevant parties, particularly firms and stakeholders associated with the firm, in paying attention to the presentation of high-quality annual and sustainability reports.

This study aims to see whether financial distress, leverage, and profitability affect accounting conservatism in manufacturing companies in the food and beverage subsector listed on the IDX for the 2021–2024 period. The independent variables used are financial distress, leverage, and profitability, while the bound variables are accounting conservatism. Data processing was carried out using the SPSS version 26 program with multiple linear regression methods. Sampling used purposive sampling techniques with certain criteria so that 63 companies were obtained as a sample for four years of observation (2021–2024). Of the total 252 financial statement data, after the deletion of outlier data, the number of data used became 183. The results of the study show that simultaneously financial distress, leverage, and profitability affect accounting conservatism. Partially, these three variables also have a positive effect on accounting conservatism. In addition, these findings indicate that companies with financial pressures and certain levels of financial management tend to apply higher prudential principles in the preparation of their financial statements.

This study aims to formulate an information technology development strategy for CV. Situsindo Prima using the VRIO (Value, Rarity, Imitability, Organization) and SWOT (Strengths, Weaknesses, Opportunities, Threats) approaches. CV. Situsindo Prima is a company engaged in Software Development and IT Consulting, focusing on providing technological solutions for both public and private sectors in Purwokerto, Indonesia. The research employs a qualitative descriptive approach by utilizing secondary data obtained from the company profile, literature reviews, and previous studies relevant to strategic information systems management. The results indicate that the company possesses several competitive advantages derived from its competent human resources, strong project reputation, and well-established relationships with public institutions. The VRIO analysis reveals that these resources have significant strategic value and potential for sustainable competitive advantage if supported by an effective organizational system. The SWOT analysis further identifies that internal strengths can be leveraged to capture external opportunities, such as the increasing demand for digital transformation and government support for technological innovation. The formulated strategies include developing a knowledge management system, implementing Service Level Agreements (SLA) for after-sales services, innovating products based on cloud computing and Internet of Things (IoT), and enhancing human resource capabilities through training and certification programs. In conclusion, this research successfully achieved its objectives by producing a comprehensive and applicable IT development strategy for CV. Situsindo Prima. The findings are expected to serve as a reference for strategic planning and strengthening competitive advantage within the digital transformation era.

This study analyzes the implementation of ESG (Environmental, Social, and Governance) reporting on the firm value of PT Indofood Sukses Makmur Tbk during the 2020-2024 period. The main issues examined are how ESG reporting is implemented and the extent of its influence on firm value, as well as which ESG component has the most significant impact. The research method employs a quantitative approach with a causal comparative design, utilizing secondary data sourced from annual reports, sustainability reports, and market data over five years. Firm value is proxied using Tobin's Q ratio, while the level of ESG disclosure is measured based on the GRI Standards framework. Data analysis techniques use multiple linear regression by incorporating control variables including firm size, profitability (ROA), and leverage to enhance result validity. The research findings indicate that ESG reporting has a positive and significant effect on firm value with a coefficient of β = 0.018 and p < 0.001, with a model predictive capability (R²) of 87.3%. Indofood's ESG Score experienced substantial improvement from 56.3% in 2020 to 78.9% in 2024, accompanied by an increase in Tobin's Q from 0.982 to 1.523. Component-wise analysis reveals that the Social aspect provides the highest impact (β = 0.009), followed by Governance (β = 0.007) and Environmental (β = 0.006). These findings provide empirical support for stakeholder theory and resource-based view in the Indonesian emerging market context.

The size of the company as a moderator in defining the correlation between capital structure, profit, and firm value is the focus of this study. Adopting a quantitative associative approach, this research focuses on the non-cyclical consumer sector registered on the Indonesia Stock Exchange (IDX) for the period 2020–2023. Of the 125 companies, 73 were purposively selected to create the research sample, yielding 292 observations after excluding entities with incomplete data and those with special monitoring status. The authors gathered secondary data from audited yearly financial reports through the IDX portal and corporate websites. The analysis used quasi-moderation techniques by combining independent variables, moderation, and interaction in a single regression model, processed through EViews 13. The research results show that capital structure has a significant positive impact on firm value, while profitability has no significant impact. Firm size has been shown to affect the relationship that exists between capital structure and firm value, but it does not moderate the association between profitability and firm value. These findings confirm that leverage’s effectiveness in increasing firm value is independent of company size and that profitability is not a primary determinant in this context. This research provides empirical evidence to advance capital structure theory and to inform executives’ strategic financial decisions and investors’ evaluations of corporate outlooks.

This research aims to analyze the effect of leverage, liquidity, and sales growth on profitability in food and beverage companies listed on the Indonesia Stock Exchange (IDX) during the 2021–2024 period. The study used a purposive sampling method with 69 companies and 276 observation data. The data were analyzed using multiple linear regression through SPSS version 26 after classical assumption tests. The results show that leverage (Debt to Equity Ratio) has a negative effect on profitability, while leverage (Debt to Asset Ratio) has no effect. Liquidity measured by the Current Ratio has a positive effect, while the Quick Ratio has no effect on profitability. Sales growth positively affects profitability. Simultaneously, leverage, liquidity, and sales growth significantly influence profitability (Return on Assets) in food and beverage companies. These findings imply that companies should maintain an optimal capital structure and liquidity level to sustain profitability amid competition in the food and beverage sector.

This study aims to analyze the effect of profitability, liquidity, and asset structure on the capital structure of banking companies listed on the Indonesia Stock Exchange (IDX) during the 2019–2023 period, with firm size as a moderating variable. The research employs a quantitative approach using secondary data obtained from financial statements. The sample was determined through a purposive sampling technique, resulting in 27 banking companies that met the criteria. Data were analyzed using multiple regression analysis and Moderated Regression Analysis (MRA). The results reveal that profitability has a negative and significant effect on capital structure, indicating that banks with higher profitability tend to reduce their dependence on external financing. In contrast, liquidity and asset structure do not have a significant effect on capital structure, suggesting that these factors are less influential in determining debt policy within the banking sector. Furthermore, the MRA results demonstrate that firm size moderates the relationship between profitability and capital structure, implying that larger firms can better manage internal funds to reduce leverage. However, firm size does not moderate the effects of liquidity and asset structure on capital structure. These findings contribute to understanding capital structure determinants in the Indonesian banking industry.

This study aims to examine the effect of Leverage and capital intensity on tax avoidance with independent commissioners as a moderating variable in property and real estate companies listed on the Indonesia Stock Exchange (IDX). Tax avoidance practices in this sector are considered relatively high due to the complexity of fixed asset management and financing structures. The study applies a quantitative approach with an associative method and purposive sampling, resulting in 21 companies as the final sample with a total of 105 observations during the 2020–2024 period. Data were analyzed using multiple linear regression and Moderated Regression Analysis (MRA) with SPSS version 25. The results show that leverage has a positive and significant effect on tax avoidance, indicating that a higher level of debt usage increases the likelihood of tax avoidance through interest expenses. Capital intensity also has a positive and significant effect on tax avoidance, as higher investment in fixed assets provides opportunities for firms to utilize depreciation expenses in reducing taxable income. The moderating test reveals that independent commissioners do not moderate the relationship between leverage and tax avoidance but significantly moderate the relationship between capital intensity and tax avoidance in a negative direction, thereby weakening the effect. These findings highlight the importance of corporate governance mechanisms through the presence of independent commissioners in mitigating tax avoidance, although their effectiveness remains limited to specific aspects. This study contributes empirically to the taxation and corporate governance literature and provides recommendations for regulators and tax authorities in strengthening tax compliance monitoring in the property sector.

The food and beverage industry are generally known for its stability. Nevertheless, this sub-sector underwent fluctuations as a result of the COVID-19 pandemic, one of which was in its firm value. The study investigates how firm value is affected by key organizational characteristics, including financial performance, the scale of the firm, and the rate of sales growth. A firm's value is measured by its PBV (Price to Book Value). The study's measure of financial performance is a combination of Return on Equity (ROE) and the CR, DER, and TATO ratios. This study uses a quantitative approach. The study's population is composed of F&B firms publicly traded on the Indonesia Stock Exchange throughout 2019–2023. A purposive sampling technique was used to select the sample based on predefined requirements, leading to a total of 125 samples from 25 companies. Data were processed using WarpPLS version 8.0 to evaluate the research model through model fit, structural testing, and hypothesis testing. The results show that the model meets the required fit indices and has strong explanatory power. The findings reveal that profitability (ROE) and leverage (DER) have a positive and significant effect on firm value, while liquidity (CR) and sales growth exert a negative and significant effect. On the other hand, activity ratio (TATO) and firm size do not significantly influence firm value.

This study aims to present evidence on the effect of capital intensity, inventory intensity, and leverage disclosure on tax avoidance. This research utilizes secondary data from financial statements sourced from www.idx.co.id and the official websites of companies in the property and real estate sectors using quantitative research. The proxy used in measuring tax avoidance is using the effective tax rate (ETR) as the dependent variable and the independent variables used include capital intensity, inventory intensity, and leverage. Multiple linear regression analysis is the analysis technique used. The property and real estate sector listed on the IDX in the period 2021 to 2024 is the population in this study and the number of samples collected is 85 data obtained using the purposive sampling method. The findings of this research indicate that capital intensity, inventory intensity, and leverage significantly influence tax avoidance positively. These findings suggest that the higher the level of investment in fixed assets, inventory, and debt-to-equity ratio, the greater the tendency of a company to engage in tax avoidance.

Competition in the songkok (traditional cap) industry in Gresik Regency has become increasingly intense, especially for small enterprises such as UD. Arif Bersaudara, which face challenges in maintaining competitiveness amid changing market trends and consumer preferences. This study aims to analyze effective marketing strategies for UD. Arif Bersaudara by identifying internal and external factors and determining the most appropriate strategic priorities for business development. The research employs the SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis to identify strategic factors and the QSPM (Quantitative Strategic Planning Matrix) to determine the order of strategic priorities. Data were collected through questionnaires distributed to 92 respondents and analyzed quantitatively using weighting and attractiveness score calculations. The results show that the total IFE Matrix score is 4.80 and the EFE Matrix score is 4.772, placing UD. Arif Bersaudara in the “Grow and Build” strategic position. Based on the QSPM results, the main priority strategy is to leverage superior product quality, design variations, and size diversity to capture opportunities in digital and international markets, with the highest TAS value of 8.37. The study concludes that UD. Arif Bersaudara should focus its strategy on improving product quality and implementing digital marketing to strengthen competitiveness. The strength of this research lies in the application of the combined SWOT–QSPM methods, which provide measurable analytical results, while its limitation lies in the relatively small and region-specific number of respondents. Future research is recommended to expand respondent coverage and incorporate digital marketing–based analysis to make MSME marketing strategies more adaptive to technological developments.