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Bridging Marketing and Finance: A Systematic Review of the Strategic Brand Risk and Firm Value Nexus Bintari, Vivi Indah; Hurriyati, Ratih; Dirgantari, Puspo Dewi; Triadinda, Dexi
The Eastasouth Management and Business Vol. 4 No. 02 (2026): The Eastasouth Management and Business (ESMB)
Publisher : Eastasouth Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58812/esmb.v4i02.832

Abstract

This study systematically reviews and synthesizes the relationship between strategic brand risk and firm value by bridging marketing and finance perspectives within the emerging marketing and finance nexus. It explores how brand related risks evolve from traditional marketing concerns into strategic financial assets that influence firm valuation and investor trust. Following the PRISMA 2020 guidelines, a Systematic Literature Review (SLR) was conducted using the Watase UAKE platform integrated with Scopus. 47 peer reviewed articles published between 2015 and 2024 were analyzed through bibliometric mapping (VOSviewer 1.6.20) and thematic content analysis to identify dominant theories, constructs, and causal mechanisms linking brand risk and firm value. Findings reveal a paradigm shift from customerbased brand equity to strategic brand risk management, emphasizing sustainability signaling and corporate legitimacy. The literature is grounded in five key theories: Stakeholder Theory, Signaling Theory, Brand Equity Theory, ResourceBased View, and Legitimacy Theory. The relationship between brand risk and firm value is primarily indirect mediated by CSR engagement, corporate reputation, and consumer trust, and moderated by sustainability orientation and strategic brand innovation. Theoretically, this study enhances understanding of brands as financial instruments that mitigate market volatility and signal corporate integrity. Methodologically, it integrates bibliometric and thematic approaches to capture the longitudinal evolution of cross disciplinary research. Practically, it provides insights for CMOs and CFOs to design risksensitive brand strategies that enhance investor confidence and shareholder value.
Empirical Analysis of Innovation-Driven Strategies on Vocational School Graduate Competitiveness in the Industry 4.0 Era Chaerunnisa; Hendrayati, Heny; Hurriyati, Ratih; Dirgantari, Puspo Dewi; Harto, Budi
Jurnal Ilmiah Akuntansi Kesatuan Vol. 13 No. 6 (2025): JIAKES Edisi Desember 2025
Publisher : Institut Bisnis dan Informatika Kesatuan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37641/jiakes.v13i6.4413

Abstract

The fourth industrial revolution has changed the economic landscape and labor market, creating disruption in various sectors and increasing demand for graduates with 21st-century skills. However, there is a striking difference between the competencies of vocational high school graduates and the growing needs of industry 4.0, as evidenced by the high unemployment rate. Previous research on the impact of transformational leadership, industry partnerships, and teacher talent management on graduate competitiveness has often shown inconsistent results and indicated the presence of a suspected mediating factor, namely school innovation culture. This study is explanatory and quantitative, applying a Partial Least Squares Structural Equation Modeling approach involving 150 respondents from vocational high schools. The analysis shows that industry partnerships have an influential and largest direct effect on school innovation culture (β=0.698) and graduate competitiveness (β=0.667). Furthermore, teacher talent management contributes (β=0.251) to graduate competitiveness. School innovation culture shows an influential mediating role in the relationship between industry partnerships and graduate competitiveness (β=0.151), but has no effect on the relationship with other strategic variables. These findings indicate the importance of strengthening strategic industry partnerships and the need to implement concrete innovation incentive policies to accelerate the transformation of vocational schools.
Effect of Strategic Planning, Business Innovation, Digital Transformation, and Organisational Agility on Competitive Advantage of Modern Service Companies in West Java Chaerunnisa, Chaerunnisa; Hurriyati, Ratih; Hendrayati, Heny; Dirgantari, Puspo Dewi
Jurnal Ilmiah Manajemen Kesatuan Vol. 13 No. 5 (2025): JIMKES Edisi September 2025
Publisher : LPPM Institut Bisnis dan Informatika Kesatuan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37641/jimkes.v13i5.3873

Abstract

The increasingly dynamic business environment compels modern service companies to continuously strengthen their competitive advantage. Despite extensive studies on strategic and digital capabilities, empirical research that simultaneously integrates strategic planning, business innovation, digital transformation, and organisational agility—particularly within the modern service sector—remains limited. This study aims to examine the effects of these four strategic factors on the competitive advantage of modern service companies in West Java Province. This research adopts a quantitative causal approach using a survey method. Data were collected from 134 managers of modern service companies across financial services, tourism, transportation, education, and information and communication technology sectors. The data were analysed using Partial Least Squares–Structural Equation Modeling (PLS-SEM) with SmartPLS software. The results indicate that strategic planning, digital transformation, and organisational agility have positive and significant effects on competitive advantage. Conversely, business innovation exhibits a significant negative effect, suggesting that innovation initiatives that are not strategically aligned or organisationally prepared may undermine competitiveness in service-oriented firms. The model demonstrates strong explanatory power, with the independent variables jointly explaining a substantial proportion of the variance in competitive advantage. This study contributes to strategic management literature by providing empirical evidence on the differentiated roles of strategic, digital, and organisational capabilities in shaping competitive advantage within the modern service sector. Practically, the findings highlight the importance of prioritising strategic clarity, adaptive capability, and purposeful digitalisation, while managing innovation selectively to ensure alignment with organisational readiness and market needs.   Keywords: strategic planning; business innovation; digital transformation; organisational agility; competitive advantage; modern service companies
Analysis Of Marketing Strategies To Improve The Competitiveness Of MSMEs (Study On Convection Maketees) Reza Fahlevy; Agus Rahayu; Puspo Dewi Dirgantari
Dinasti International Journal of Education Management And Social Science Vol. 6 No. 3 (2025): Dinasti International Journal of Education Management and Social Science (Febru
Publisher : Dinasti Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.38035/dijemss.v6i3.3831

Abstract

Marketing strategy is very important to the operation of a company in which the existence of a marketing strategy, the business run by the company has long-term actions which have a way to achieve the company's goals so that it is more directed, planned and prepared more carefully so that the intended target can be achieved, and can also anticipate all occurs in the target market. This study aims to determine the overview of marketing strategies to improve competitiveness, and to determine how effective the implementation of marketing strategies that have been done. The study was conducted in convection Maketees. Data collection techniques with interviews, observations, and documentation, descriptive type of research. The results of the analysis of the effectiveness of marketing strategies showed an increase in revenue from year to year and serve as a reference for the effectiveness of marketing strategies in competition between convection.
The Mediating Effects of Government Innovation Capabilities and ICT Development: E-Government Implementation and Organizational Value Creation in Indonesia Lili Khamiliyah; Agus Rahayu; Maya Sari; Puspo Dewi Dirgantari
Dinasti International Journal of Education Management And Social Science Vol. 6 No. 4 (2025): Dinasti International Journal of Education Management and Social Science (April
Publisher : Dinasti Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.38035/dijemss.v6i4.4121

Abstract

Various studies provide evidence that E-Government Implementation contributes to Organizational Value Creation, but more research is still needed to analyze the mediation effect of Government Innovation Capabilities and ICT Development in the influence of E-Government on Organizational Value Creation in Indonesia. Using primary research data sourced from primary data, questionnaires were distributed to respondents with a total sample of 268, answering the formulation of hypotheses and research models using a parallel mediation effect approach, namely using SEM-PLS and SPSS V.3.4, The results of the study indicate that there is a direct effect of E-Government on Organizational Value Creation, as well as an indirect effect of E-Government on Organizational Value Creation through Government Innovation Capabilities and ICT Development; the influence is more apparent if, through ICT Development, this is possible because of the uneven development and implementation of ICT due to the level of accessibility, use, and skills. In addition, efforts that can be made to improve organizational innovation capabilities must involve essential elements, namely, Top Management, Adequate resources and Absorptive capacity, Organizational slack, Cross-functional collaboration, and Organizational challenges. Researchers suggest that local governments in Indonesia strengthen institutions, technology-based services, and governments that could innovate in providing services to the community to increase good, reliable, effective, efficient, and adaptive organizational governance to changes and community needs.
Suksesi dan hubungan orang tua-anak dalam bisnis keluarga (studi kasus pada sentra batik trusmi Cirebon) Abdurokhim Abdurokhim; Agus Rahayu; Puspo Dewi Dirgantari
JPPI (Jurnal Penelitian Pendidikan Indonesia) Vol. 10 No. 4 (2024): JPPI (Jurnal Penelitian Pendidikan Indonesia)
Publisher : Indonesian Institute for Counseling, Education and Theraphy (IICET)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29210/020243191

Abstract

Family business is a business that is run jointly by family members. The purpose of this study is to determine the succession process and the relationship between parents and children in the family business precisely in the Trusmi Cirebon batik center. The method used is qualitative with data collection techniques through interviews, documentation and observation of four informants or sources namely Batik Ninik Ichsan, Batik EB, Batik Katura, and Batik Trusmi. The results of the research on Batik Ninik Ichsan, Batik Trusmi, Batik Katura, and Traditional Batik EB found that the succession process carried out was unplanned, but the parents provided mentoring to make batik at school age, except for Batik Trusmi who only learned it after marriage. In the aspect of parent-child relationship, it is known that Batik Ninik Ichsan, Batik Trusmi, and Batik Katura are in a good relationship because there is no pressure on their children to participate in continuing their parents' business, but business continuity is carried out naturally and there is support from the environment. This is different from Batik EB, where there was a conflict within the family due to Hisham's parents' decision to hand over EB's batik business to Hisham. However, a solution was immediately found so that it was back in good condition.
How Discount and Bundling Strategies Shape Purchase Decisions Through Brand Image Mediation in Indonesian Retail Context Soni, Mohammad; Hurriyati, Ratih; Dirgantari, Puspo Dewi
Jurnal Inovasi Bisnis dan Kewirausahaan Vol 8 No 1 (2026): Business Innovation and Entrepreneurship Journal (February)
Publisher : Entrepreneurship Faculty, Universitas Garut

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35899/biej.v8i1.1169

Abstract

In an increasingly competitive business environment, selecting effective marketing strategies is crucial for shaping customer purchase decisions. This study examines how discounts and bundling influence purchase decisions at Kedai Tekun, with brand image as a mediating variable. Using a quantitative approach, surveys were distributed to one hundred customers. Structural Equation Modeling (SEM) via Smart-PLS was employed to evaluate variable relationships. Findings reveal that discounts positively and significantly affect both brand image and purchase decisions, while bundling demonstrates a positive significant impact on purchase decisions. Interestingly, brand image negatively and significantly influences purchase decisions. Mediation analysis confirms discounts have an indirect effect on purchase decisions through brand image. Results suggest discount strategies facilitate consumer purchase decisions, whereas bundling enhances purchase intention. However, brand image requires careful management, as favorable perceptions do not necessarily increase purchase decisions. Business owners should optimize marketing effectiveness by balancing promotional strategies with strengthening brand identity and core values.
Customer Loyalty in The Restaurant Business Sector: Analyzed Through Multidimensional Customer Equity Wufron; Ratih Hurriyati; Puspo Dewi Dirgantari
Sinergi International Journal of Management and Business Vol. 4 No. 1 (2026): February 2026
Publisher : Yayasan Sinergi Kawula Muda

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61194/ijmb.v4i1.910

Abstract

This study examines the effects of Value Equity, Brand Equity, Relationship Equity, and Financial Equity as a novel extension of the customer equity framework on Customer Loyalty in the restaurant sector in Garut Regency. The study employs a quantitative survey-based approach using Structural Equation Model Partial Least Square, with data collected from 100 restaurant customers selected through purposive sampling. The findings reveal that Brand Equity and Relationship Equity have a positive and significant influence on Customer Loyalty, whereas Value Equity and Financial Equity show positive but insignificant effects. The insignificance of Value and Financial Equity may reflect contextual factors, such as relational-oriented consumer behavior and limited sensitivity to financial considerations in local restaurant choices. The results confirm the multidimensional nature of Customer Equity and highlight the dominant role of Brand and Relationship Equity in fostering loyalty. The inclusion of Financial Equity provides a theoretical contribution by extending the customer equity model in the context of MSMEs in a developing region.
Driving Sustainable Competitiveness Through Holistic Marketing and Esg: An Empirical Study on Msmes in Sukabumi Regency, Indonesia Muchamad, Widy; Hurriyati, Ratih; Dirgantari, Puspo Dewi
Sinergi International Journal of Management and Business Vol. 4 No. 1 (2026): February 2026
Publisher : Yayasan Sinergi Kawula Muda

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61194/ijmb.v4i1.913

Abstract

This study examines the influence of Holistic Marketing on the Sustainability of Micro, Small, and Medium Enterprises (MSMEs) in Sukabumi Regency, with Environmental, Social, and Governance (ESG) as the mediation variable. This topic is very crucial because even though MSMEs are the backbone of the national economy, the majority still face significant obstacles in internalizing the sustainability values needed to maintain competitiveness in the digital economy era. In particular, this study fills a gap in the literature by exploring how a holistic marketing approach can be a key driver of ESG adoption in developing countries. Using a quantitative approach with the Structural Equation Modeling - Partial Least Squares (SEM-PLS) technique, data was collected from 200 MSME actors. The results of the analysis showed that Holistic Marketing had a significant positive effect on ESG (β = 0.566; p <0.001), indicating that comprehensive and digital-centric marketing strategies successfully improve ethical awareness and practices. ESG has a positive effect on Business Sustainability (β = 0.375; p <0.001) and has been shown to play a role as a partial mediator that strengthens the direct influence of Holistic Marketing on Business Sustainability (β = 0.329; p <0.001). The primary novelty of this study lies in the empirical evidence that the integration of digital-based holistic marketing and ESG represents a vital mechanism for MSME resilience in developing regions, a model that has been rarely explored in empirical research in Indonesia.
Social Media Marketing and Repurchase Intentions in Sharia Hotels: The Mediating Influence of Brand Awareness RASYIDDIN, AHMAD; Hurriyati, Ratih; Dirgantari, Puspo Dewi; Mac-Doqu, Francis Kortey
Sinergi International Journal of Management and Business Vol. 4 No. 1 (2026): February 2026
Publisher : Yayasan Sinergi Kawula Muda

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61194/ijmb.v4i1.923

Abstract

The Islamic hospitality industry faces a tough challenge in maintaining repurchase intentions amid increasingly fierce competition. Although social media marketing activities (SMMAs) have become the dominant strategy, the psychological mechanisms that explain the conversion of these activities into repetitive buying behaviors are still not optimally internalized; This is reflected in the empirical paradox in which increased digital investment successfully attracts new visitors, but fails to prevent a drastic decline in retention rates. This causal explanatory research aims to analyze the role of brand awareness (BA) mediation in the relationship between SMMA and buyback intention (RI) in the context of Islamic boarding houses, as well as validate relevant theoretical frameworks. Using the Partial Smallest Square Structural Equation Modeling (PLS-SEM) on a sample of 98 respondents who are actual customers of Islamic boarding schools in West Java, the results of the study prove that SMMA has a significant effect on the Republic of Indonesia, both directly and indirectly through the mediation of BA. In particular, Brand Awareness has been shown to act as a significant partial mediation mechanism, while also confirming the Stimulus-Organism-Response (S-O-R) Framework in the sharia hospitality market. These findings provide crucial practical implications for sharia lodging managers to shift the focus of their social media content strategy: optimizing efforts that consistently build brand recall and brand recognition instead of simply pursuing reach metrics), thus being able to transform brand awareness into continuous repeat buying behavior.
Co-Authors Aam Rachmat Mulyana Abdul Rozak Abdurokhim Abdurokhim Adi Sopian Aghnia Fadilah, Ratu Agus Rahayu Agus Rahayu Agus Rahayu Agus Rahayu Agus Rahayu Agus Rahayu Agus Rahayu Agustini, Kamelia Ahmad Gunawan Alamsyah, Sindhu Alexi Yohans, Jordy AMELIA SETYAWATI, AMELIA Andy Prasetyo Wati ANGGA MARTHA MAHENDRA, ANGGA Anggita Nur Fatimah Anggraeni, Tuti Ani Rakhmanita Aniek Indrawati Anneu Suryani Annisa Megaswara Ardelia Azhar Arifianti Arifianti, Ardelia Azhar Arus Reka Prasetia Aryani, Kiki As-siisi, Adzkia Marwa Asaretkha Adjane Annisawati Asep Wahyudin Ashshaumi, Muhammad Hisyam Aulia Nurizky, Sherly Aynie, Rahmi Qurrota Ayus Ahmad Yusuf Azatovich, Ablatdinov Sultanbek Azzahra, Fanny Fatimah Bambang Widjadjanta Bambang Widjajanta Bambang Widjajanta Bambang Widjajanta, Bambang Bayu Indra Setia Bejaoui, Asma Bella Shafiera Anandita Bintari, Vivi Indah Budi Harto Budi Prasetiyo, Budi Chaerunnisa Chaerunnisa, Chaerunnisa Chairul Furqon, Chairul Chandra, Dicky Corry Yohana D. Disman Dearika Irsanyya, Kharisma Dewanti, Pelangi Puspa Dian Anita Nuswantara Dian Herdiana Utama Disman Disman Disman Disman Disman, Disman Disman, Disman Edi Firdaus Edi Suryadi Edi Suryadi, Edi Ekawijaya, Asep Bayu Elyusufi, Abdul Muhaimin Erik Syawal Alghifari ERNAWATI Ery Adam Primaskara Eva Rachmawati Eva Rachmawati Fahmi, Radiyul Fairuz Rifqi Abdurahman Faizal Fardhani Sigarlaki Fajar Gumelar Maulana Fajar Ramadhan Fajri, Fadilla Nur Farizki Maulana Rafliansyah Fathurrohman, Firdaus Ferany Nur Amalia Andini Fidhyallah, Nadya Fadilah Gafar, Vanessa Gamma Bhakti Pradana Gilang Bhirawa Noraga Girang Razati, Girang Gusni . Hadi Ahmad Sukardi Hadi Nasbey Hadiyazid Rachman, Nur Hanifah, Silvana Hari Mulyadi, Hari harisandi, Prasetyo Hasan, Pupung Puad Hasyim, M. Ardi Nupi Hasyim, Muhammad Ardi Nupi Heny Hendrayati Herning Indriastuti Hidayat, Nurdin Hidayat, Yusuf Murtadlo Hijrianti, Rina A. Hilda Monoarfa Hurriyanti, Ratih Hurrriyati, Ratih Ichsan Budiman Ihda Farhatun Nisak Inasari Widiyastuti Indradewa, Rhian Ira Valentina Silalahi Irawan, Rini Larasati Isrososiawan, Safroni Julia Famor Pratami Khamiliyah, Lili Khofia, Irham Kiki Aryani Kosidin S.T., M.Kom. Kosidin, Kosidin Kusumah, Echo Perdana Lavianti, Desi Lili Adi Wibowo Lili Adi Wibowo Lili Khamiliyah Luckyardi, Senny Lunia Nur Larasati M Sandi Marta Mac-Doqu, Francis Kortey Mahphoth, Mohd Halim Mahphoth, Mohd Halim bin Maisa Azizah Asmara Margana, Andika Alvin Martha, Jefry Aulia Masharyono Masharyono Maula, Farij Ibadil Maulana, Teguh Nurakmal Maulasena, Mirza Fawwaz Maya Sari Maya Sari Mazaya Izzatur Rahim Mira Rahmi Mirza Abdi Khairusy Misyaida Ayunda Putri Mohammad Soni Mubdi Mulya Isfahami Muchtar, Muhammad Muhamad Bayu Pramesta Muhammad Fikar Ravsanjani Muhammad Muchtar Muhammad Zaky Yamin Munawar, Muhammad Meki Munir Munir Munir Munir Munir, Munir Muradovna, Khudayarova Mekhrangiz Nabilah Ramadhan Nandi Nandi, Nandi Neni Nuraeni Neni Nuraeni, Neni Ni Putu Nurwita Pratami Wijaya Ningsih, Nurul Hutami Nugraha, Ginanjar Nugraheni, Rury Nuraeni, Ita Nurpratama, Mohamad Reza Nurul Aziz Pratiwi Nuryadi Wijiharjono Nuryanti, B Lena Oce Ridwanudin Pangestu, Erry S.R Pardede, Mahadi Pepen Supriatna Supriatna Pitri Yanti Pranadita, Nugraha Prasetyo Hartanto Prihadi, M Dana Pupung Puad Hasan Putri Hestiningrum Putri, Diva Amanda Qudratov, Inomjon Raden Dian Herdiana Utama Rahman, Iradah Rahmawati, Yuli Diani Rahmi Qurrota Aynie Ramadhian, M. Arief Rahman Ramadhianti, Raden Heryaningtias Rasim, Rasim Rasyiddin, Ahmad Ratih Hurriyanti Ratih Hurriyati Ratih Hurriyati Ratih Hurriyati Ratih Hurriyati Ratih Hurriyati, Ratih Ratih Nurriyati Ratu Dintha Insyani Zukhruf Firdausi Sulaksana Raya Sulistyowati Rennyta Yusiana Rennyta Yusiana Resti Indriarti Reza Fahlevy Rivaldi Arissaputra Rofi Rofaida Rohmat, Siti Sakova, Megha Saputri, Adiya Agustin Eka Saputri Sari, Putri Pradnyawidya SATRIYAS ILYAS Saur Costanius Simamora Senny Luckyardi Septyan Budy Cahya Setyorini, Zahra Medina Shendy Amalia Sigarlaki, Faizal Fardhani Silalahi, Ira Valentina Siregar, Herbert Sudarjo Sugangga, Amelia Sugangga, Rayyan Sugiana, Neng Susi Susilawati Sukmayana, Dodi Sul, Ratu Dintha Insyani Zukhruf Firdausi Sulastri Sulastri Sulastri, S Sumantri, Dadan Sumaryana , Fitriana Dewi Surya Nugraha Susanti Kurniawati, Susanti Syahar Banu, Syahar Syahlan, Fatra Tamyiz, Uus Muhamad Husni Tegar Thalita Syifa Fatimah Tianingrum, Destri Mailinda Tri Sudarwanto Triadinda, Dexi Triyono Adi Tristanto Ulfia Wahdatul Nurfuadah Untung Novianto Usep Suhud Utama, Dian H Uus Muhamad Husni Tamyiz Vanessa Gaffar Veni Rafida Wawan Setiawan Wawan Setiwan Widjadjanta, Bambang Widy Muchamad Wufron Wufron Yahtadi, Fauzan Yanti, Pitri Yasir Maulana Yogi Suprayogi Yulandri, Elsa Yuliarti Maghfira Annahli Yulita Pujiharti Yusuf Murtadlo Zahra Medina Setyorini Zahra Nadhira Khairunnisa Zhixin Li Zukhruf, Ratu Dintha Insyani