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All Journal Maker: Jurnal Manajemen FINANCIAL : JURNAL AKUNTANSI
Situmorang, Renovand Mikael
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Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

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The Effect of Profitability, Liquidity and Solvability on Firm Value with Firm Size as Moderating Variable in Plantation Sector Company on The Indonesia Stock Exchange for The Period 2020 - 2024 Situmorang, Renovand Mikael; Toni, Nagian; Ariesa, Yeni; Sitanggang, Tina Novianti; Aktar, Salim
JURNAL AKUNTANSI FINANCIAL STIE SULTAN AGUNG Vol 12 No 1S (2026): (International Conference ICEBEMA Dr. Soetomo University and ICEBesMA Prima Ind
Publisher : Sekolah Tinggi Ilmu Ekonomi Sultan Agung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37403/financial.v12i1S.828

Abstract

This study aims to examine the influence of profitability, liquidity, and solvency on firm value with firm size as a moderating variable in plantation companies listed on the Indonesia Stock Exchange (IDX) during the period 2020–2024. Using a quantitative approach, this research employs the Structural Equation Modeling-Partial Least Squares (SEM-PLS) method to analyze the relationships among variables. The sample consists of 18 plantation companies selected using purposive sampling based on the availability and completeness of financial statements. The results reveal that profitability and liquidity have a positive and significant effect on firm value, while solvency does not significantly affect firm value. Additionally, firm size is found to moderate the relationship between profitability and firm value but does not moderate the effects of liquidity and solvency. These findings highlight the importance of profitability and liquidity management in enhancing firm value, particularly in the plantation sector. The study contributes to the understanding of financial determinants affecting firm value and provides practical insights for investors and corporate decision-makers.
Analysis of Customer Value in Local Bakery Businesses: A Case Study of Ano Cake in Pematangsiantar Butarbutar, Marisi; Sitompul, Rosalinda Septiani; Simanjuntak, Nurlinawati; Situmorang, Renovand Mikael; Simatupang, Sudung
JURNAL MANAJEMEN MAKER STIE SULTAN AGUNG Vol 12 No 1 (2026)
Publisher : Sekolah Tinggi Ilmu Ekonomi Sultan Agung

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Abstract

This study aims to analyze customer value in the local culinary industry through a case study of Ano Cake in Pematangsiantar. The study employs a descriptive qualitative and quantitative approach. Data were collected through questionnaires, interviews, observations, and documentation involving 60 Ano Cake customers. The dimensions of customer value examined in this study include product value, service value, human resource value, image value, and monetary cost. The findings indicate that Ano Cake has successfully created positive customer value through premium product quality, personalized service, product innovation, and active digital marketing via social media platforms. Human resource value emerged as the most dominant dimension influencing customer perception, while service value received the lowest score, though it remained in the “good” category. This study also revealed that responsiveness in digital services, production capacity, product innovation, and the online ordering system remain critical areas requiring improvement. Overall, customer value plays a strategic role in strengthening the competitiveness and sustainability of local culinary businesses in the digital era. Keywords: customer value, customer satisfaction, culinary industry, and digital marketing.
Co-Authors Ariesa, Yeni Butarbutar, Marisi Rosalinda Septiani Sitompul Salim Aktar Simanjuntak, Nurlinawati Simatupang, Sudung Tina Novianti Sitanggang Toni, Nagian