Proceeding of International Conference Health, Science And Technology (ICOHETECH)
2026: Proceeding of the 7th International Conference Health, Science And Technology (ICOHETECH)

Firm Value in the Digital Era: Profitability, Growth Opportunity, and Media Exposure

Umi Hanifah (Universitas Duta Bangsa Surakarta)
Erna Chotidjah Suhatmi (Universitas Duta Bangsa Surakarta)
Bayu Tri Cahya (Universitas Islam Negeri Kudus)
Devita Siska Kusuma Wardani (Universitas Duta Bangsa Surakarta)



Article Info

Publish Date
26 Sep 2026

Abstract

Digital transformation has expanded investors’ access to corporate information and changed how financial performance, growth prospects, and information visibility are assessed in capital markets. This study examines the effects of profitability, growth opportunity, and media exposure on firm value among industrial sector companies listed on the Indonesia Stock Exchange during 2020–2026. A quantitative approach was employed using secondary data from annual reports, sustainability reports, the Indonesia Stock Exchange, and official corporate websites. The sample consists of 41 companies with 287 firm-year observations. Profitability is proxied by Return on Equity, growth opportunity by revenue growth, media exposure by a dummy variable, and firm value by Price to Book Value. Panel data regression is used for hypothesis testing. The results show that profitability has a positive and significant effect on firm value, whereas growth opportunity and media exposure have no significant effects. These findings indicate that realized financial performance remains a stronger market signal than prospective growth and information visibility in an increasingly digital information environment.

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