Chalid Imran Musa
Fakultas Ekonomi dan Bisnis, Universitas Negeri Makassar

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The Effect of Profitability and Company Value on Stock Prices in Health Sector Companies Listed on The Indonesia Stock Exchange for The Period 2020-2024 Zalsabillah Cahya Wahyuni; Chalid Imran Musa; Anwar; Nurman; Abdul Rahman
Economics and Business Journal (ECBIS) Vol. 4 No. 3 (2026): March
Publisher : PT. Maju Malaqbi Makkarana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47353/ecbis.v4i3.301

Abstract

This study aims to examine the influence of profitability and firm value on stock prices in health sector companies listed on the Indonesia Stock Exchange during the 2020–2024 period. A quantitative approach with a documentation method was employed in this research. The population consisted of all health sector companies within the specified period, while the sample was selected using a purposive sampling technique based on predetermined criteria, resulting in a total of 15 companies. Data were analyzed using panel data regression through the Economic Views (EViews) 12 software. The findings of this study indicate that, profitability (ROA) has a positive and significant effect on stock prices of health sector companies for the 2020–2024 period. Similarly, firm value (Tobin’s Q) also shows a positive and significant influence on stock prices within the same period
The Influence of Service Quality and Store Atmosphere on Customer Loyalty through Customer Satisfaction at See You Cafe in Pinrang Regency Fatwa Az Zahra; Chalid Imran Musa; Isma Azis Riu; Nurul Fadilah Aswar; Rahmat Riwayat Abadi
Economics and Business Journal (ECBIS) Vol. 4 No. 6 (2026)
Publisher : PT. Maju Malaqbi Makkarana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47353/ecbis.v4i6.261

Abstract

The rapid growth of local cafes in medium-sized cities has shifted competition from product-based offerings to experience-based value creation. This study examines how service quality and store atmosphere influence customer loyalty through customer satisfaction at See You Cafe in Pinrang City. The study employed a quantitative associative-causal design involving 160 customers selected through purposive sampling, with criteria including customers aged at least 17 years and having visited See You Cafe at least twice. Data were collected using a structured questionnaire measured on a four-point Likert scale and analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) with SmartPLS 4. The results show that service quality has a positive and significant effect on customer satisfaction and customer loyalty. Store atmosphere also has a positive and significant effect on customer satisfaction, indicating that physical and sensory elements of the cafe contribute to customers’ positive evaluations. However, store atmosphere does not significantly affect customer loyalty. Customer satisfaction also does not significantly affect loyalty and does not mediate the relationship between service quality and loyalty or between store atmosphere and loyalty. These findings suggest that customer loyalty at See You Cafe is shaped more directly by service quality than by satisfaction or store atmosphere. The study implies that cafe management should prioritize improving service reliability, particularly order-serving timeliness, while maintaining a comfortable atmosphere. In addition, loyalty-building strategies should go beyond customer satisfaction by strengthening service consistency, personalization, and long-term customer engagement