JOURNAL OF HUMANITIES, SOCIAL SCIENCES AND BUSINESS

The Role of the Office of Cooperatives, MSMEs, and Labor in Empowering Micro, Small, and Medium Enterprises in Palu City (Evidence from 2022)

Tue, 07 Oct 2025 00:00:00 +0000

MSMEs are vital to Indonesia's economy, making a substantial contribution to GDP and employment. Nevertheless, a number of MSME players encounter obstacles such restricted capital availability, weak financial management abilities, and a lack of appropriate business mentoring. This study aims to analyze the role of the Cooperative, MSME, and Labor Department of Palu City in empowering Micro, Small, and Medium Enterprise (MSME) actors in 2022. The method used is descriptive with a qualitative approach. Data sources in this study consist of primary and secondary data. Primary data was obtained through direct interviews with staff of the Cooperative, MSME, and Labor Department of Palu City who work in the MSME field. Secondary data was obtained from official documents and archives (RSIP) owned by the department, particularly those related to MSME empowerment programs. Data collection techniques used include interviews, documentation, and collection of related documents from relevant agencies. Research results show that the Cooperative, MSME, and Labor Department of Palu City has implemented various empowerment programs, such as providing equipment and capital assistance, as well as business mentoring. The total business capital funds distributed to 1,101 MSME actors reached Rp2,202,000,000, and equipment assistance was adjusted according to each type of business. This program positively impacts MSME growth and poverty reduction in Palu City, despite challenges like low awareness of training, uneven mentoring, and limited capacity in business management and financial recording. Therefore, more intensive, integrated, and sustainable empowerment strategies are needed to optimally improve MSME capacity and competitiveness.

Analysis of the Factors Affecting the Open Unemployment Rate in Central Sulawesi Province

Safirda*, Laendatu Paembonan — Tue, 07 Oct 2025 00:00:00 +0000

Unemployment remains a critical challenge for the Indonesian economy, including in Central Sulawesi Province. Economic growth, measured by Gross Regional Domestic Product (GRDP), and human development quality, measured by the Human Development Index (HDI), are two key factors suspected to influence the Open Unemployment Rate (TPT). This study aims to analyze the influence of GRDP and HDI on the Open Unemployment Rate in Central Sulawesi Province from 2014 to 2023. This study utilised a descriptive quantitative research method using secondary data obtained from the Central Statistics Agency (BPS) for the period 2014–2023. Data collection techniques were carried out through documentation, while data analysis used elasticity analysis to measure the level of responsiveness of TPT changes to variations in GRDP and HDI. Based on the research, the results show that changes in GRDP have a significant and negative effect on the open unemployment rate in Central Sulawesi Province from 2014 to 2023. An increase in GRDP will reduce the open unemployment rate in Central Sulawesi Province. Changes in HDI have a significant and negative effect on the open unemployment rate in Central Sulawesi Province from 2014 to 2023. An increase in HDI will reduce the open unemployment rate in Central Sulawesi Province. The study concludes that both economic expansion and improvements in human capital are effective strategies for reducing unemployment in the region.

Linking Demographic Profile to Family Influence and Career Decision Preferences

Fri, 24 Oct 2025 00:00:00 +0000

Despite extensive literature on family and demographic factors influencing career choices, their specific intersection and impact on students in Business and Accountancy programs remain an underexplored area in the Philippines' higher education. This descriptive-correlational study investigated the impact of family and demographic factors on students' career choices at the College of Management, Business, and Accountancy at Cebu Institute of Technology–University (CIT-U). A total of 109 respondents, representing 10% of the enrolled population in the second semester of AY 2024–2025, participated in the survey. Descriptive statistics summarized students’ perceptions of family influence and career preferences, while Chi-square tests and logistic regression models assessed associations and predictive relationships. The results showed that while students increasingly value independence in their choices, families primarily influence career decisions through financial support and encouragement. Employability and financial feasibility emerged as the strongest drivers of career preferences, with financial uncertainty reducing career confidence. Demographic variables, such as age, gender, income, and parents’ education, showed significant associations with family influence or career preferences. However, older students demonstrated greater autonomy in decision-making. The study emphasized the importance of balancing family involvement, financial support, and career empowerment initiatives while respecting students’ independence. In line with the results, recommendations include strengthening family-inclusive career guidance, providing employability programs, and addressing financial challenges. Policymakers are recommended to promote equitable funding and access to higher education to support informed, independent decision-making for career choices.

Analysis of the Implementation of Internal Controls on Food Procurement at the Anantara Uluwatu Bali Resort Hotel

I Komang Alit Sudarsana*, I Wayan Tuwi, I Gusti Ngurah Agung Wiryanata — Wed, 29 Oct 2025 00:00:00 +0000

The hospitality industry plays a vital role in supporting the tourism sector, where effective internal control systems are essential to ensure efficiency, accountability, and cost control in operational processes such as food procurement. This research explores the application of internal control in the food procurement process at Anantara Uluwatu Bali Resort, utilizing the five core components of the COSO (Committee of Sponsoring Organizations of the Treadway Commission) internal control framework. A qualitative descriptive method was employed, with data gathered through interviews, direct observations, and documentation review. The results reveal that the resort has implemented a foundational internal control system supported by organizational structures, standard operating procedures (SOPs), and an integrated information system Visual Hotel Program (VHP). Nevertheless, certain implementation gaps were identified, such as overlapping responsibilities between receiving and storekeeping functions, the lack of a formal risk assessment system, and frequent reliance on undocumented informal communication. Furthermore, the monitoring activities remain limited and are mainly carried out through informal daily briefings rather than systematic internal audits. In summary, the internal control practices within the food procurement operations at the hotel are not yet fully effective. To enhance the system's performance, improvements are needed in areas such as segregation of duties, risk identification, procedural compliance, and the establishment of routine internal monitoring mechanisms.

Analysis of the Achievement of the Rapid Action Program for Poverty Alleviation Based on Community Empowerment (A Case Study in Bahoaea Reko-reko and Nambo Villages, Morowali Regency)

Ahmad Saputra*, M. Tallesang, M. Lutfi, Andi Herman Jaya, Santi Yunus — Mon, 03 Nov 2025 00:00:00 +0000

Poverty eradication is a national priority in line with the 2030 Sustainable Development Goals, which has prompted the Central Sulawesi Provincial Government to launch the Gercep Gaskan Berdaya Programme to strengthen the economic capacity of poor households through community empowerment. This programme targets Morowali as a priority location with the aim of increasing community independence, accelerating poverty reduction, and supporting regional development. This study aims to analyze the effectiveness of the Community Empowerment-Based Poverty Alleviation Program (Gercep Gaskan Berdaya) in Morowali Regency, Central Sulawesi. The program represents a local government strategy to accelerate the reduction of extreme poverty through empowerment and community participation. The research employed a descriptive quantitative method using questionnaires distributed to 22 beneficiaries from Bahoea Reko-Reko Village and Nambo Village. Data were analyzed using simple tabulation, percentage calculation, and mean score comparison. The findings indicate that the program is effective, with an overall average score of 4.11, categorized as good. In Bahoea Reko-Reko Village, the program’s effectiveness is more evident in skill improvement and targeting accuracy, while in Nambo Village it is more dominant in participation and economic sustainability aspects. However, the direct impact on household welfare remains limited, highlighting the need to strengthen household-level interventions. This study recommends enhancing community participation, improving transparency in beneficiary validation, and developing family-based economic empowerment initiatives to ensure program sustainability.

Collaborative Governance Between the Medan City Social Service and Medan Plus Foundation for the Rehabilitation of Victims of Narcotics, Psychotropics, and Addictive Substances (NAPZA)

Abdillah Thoib Nadeak*, Sally Marisa Sihombing — Fri, 14 Nov 2025 00:00:00 +0000

The city of Medan is a drug haven in North Sumatra as evidenced by the high number of drug abuse cases. Victims of drug abuse need to receive rehabilitation. The Medan City Social Service and the Medan Plus Foundation organized rehabilitation as a form of collaborative governance. This research aims to analyze collaborative governance between the Medan City Social Service and the Medan Plus Foundation for the rehabilitation of drug abuse victims. This research uses qualitative descriptive research. The data obtained was analyzed qualitatively using the collaborative governance model according to Ansell and Gash which consists of several stages, namely: initial conditions, institutional design, facilitative leadership, and collaborative processes. The research results show that first, the initial conditions between the Medan City Social Service and the Medan Plus Foundation were supported by human resource dependency. Second, the institutional design regarding drug rehabilitation is structured from the center to the regions. Third, the facilitative leadership of the Medan City Social Service leads collaboration in handling victims. Fourth, the collaborative process in drug rehabilitation runs well between the two parties through face-to-face dialogue with a sense of trust, commitment and mutual understanding based on regulations. On the one hand, both of them must remind each other and invite each other to hold meetings in collaboration.

Analysis of Financial Performance Development Based on Profitability Ratios

Hendra Prasetya*, Evianah Evianah — Sat, 22 Nov 2025 00:00:00 +0000

A company's financial performance can be a factor considered by investors planning to invest. Financial statements serve as an important tool to evaluate a company's ability to generate profits, manage assets, and provide returns to shareholders. Therefore, financial performance analysis is needed to provide an overview of the company's health condition as well as the prospects for its business sustainability. The objective of this study was to evaluate the financial performance of PT Indofood CBP Sukses Makmur Tbk. for the 2022-2024 period using profitability indicators, namely Net Profit Margin (NPM), Return on Assets (ROA), and Return on Equity (ROE). The results of the analysis indicate a positive trend, reflecting consistent improvement in the company’s profitability over the three-year period. This is reflected in the NPM, ROA, and ROE values, which continued to increase from 2022-2024, although the increase decreased from 2023 to 2024 compared to the increase from 2022-2023. From 2022-2024, the NPM values were 9.36%; 11.57%; and 11.57%, respectively and 11.87%. ROA values were 5.26%, 6.59%, and 6.84%. ROE values were 10.55%, 12.65%, and 12.86%. It is recommended that the company implement efficiency measures to increase profits. Although the rate of increase experienced a slowdown in 2024, overall the company was able to improve the effectiveness of asset and capital management as well as increase the ability to generate profit. By implementing efficiency and strengthening operational strategy, the company has the potential to maintain or even improve its financial performance in the following period.

Effectiveness of Regional Retribution Revenue and Its Contribution to Local Own-Source Revenue in Southwest Maluku Regency

Thimotina Killay*, Engrith Grafelia Leunupun, Gilbert Robert Kaary — Wed, 03 Dec 2025 00:00:00 +0000

Regional retributions are one of the most significant sources of Local Own-Source Revenue (PAD), serving as an indicator of a region’s fiscal independence. In Indonesia, many local governments, including the Maluku Barat Daya Regency, still rely heavily on central government transfers, making the optimization of PAD through effective retribution management crucial. This study aims to analyze the effectiveness and contribution of regional retribution to the Local Own-Source Revenue (PAD) of the Maluku Barat Daya Regency during the period 2017–2021. The research employs a descriptive quantitative method. The data used are secondary data obtained from the Regional Revenue Agency (BAPENDA), specifically from the realization reports of the regional budget (APBD). The results indicate that the effectiveness of regional retribution revenue fluctuated throughout the observed period and has not yet reached the targeted level. Some types of retributions, such as public service retributions and certain licensing retributions, showed relatively high effectiveness in the early years but declined significantly during 2020–2021. Meanwhile, the contribution of regional retribution to PAD remained low and showed no significant growth over the five-year period. Overall, regional retribution has not made a substantial contribution to the local revenue of Maluku Barat Daya Regency. Therefore, it is necessary to enhance the effectiveness of collection, supervision, and taxpayer awareness, as well as to implement digital systems to strengthen regional fiscal independence. The findings of this study support the stewardship theory, emphasizing the government’s responsibility to manage public revenues transparently, efficiently, and accountably.

Adoption of the Theory of Planned Behavior Approach in Exploring the Behavior of Induction Stove Assistance Recipients in Bali

Thu, 04 Dec 2025 00:00:00 +0000

Indonesia relies heavily on imported LPG with subsidies often benefiting higher-income groups. The government launched an energy transition program encouraging households to shift from LPG to induction stoves. This study investigates behavioral factors influencing induction stove adoption among assistance recipients in Bali Province, Indonesia's pilot project for the national initiative. Using the Theory of Planned Behavior (TPB) framework, a quantitative survey was conducted with 300 participants selected from 1,002 beneficiaries in Bali. Statistical analyses examined relationships among attitude toward behavior, subjective norms, perceived behavioral control, intention, and actual behavior. Attitude toward behavior, subjective norms, and perceived behavioral control significantly and positively influence adoption intention and behavior. Intention directly predicts actual induction stove use, validating TPB's applicability in this context. The TPB framework effectively explains household behavioral responses to government-led energy transition programs. However, findings are limited to Bali and require cautious generalization to other regions. This research provides policymakers valuable insights for designing effective behavioral interventions to accelerate national induction stove adoption and improve energy transition program outcomes.

Does Job Training Work? Causal Evidence of the Kartu Prakerja Program’s Impact on Labor Outcomes

Wulan Oktabriyantina*, Deny Cahyadinanto Sanjoko — Thu, 04 Dec 2025 00:00:00 +0000

The Indonesian government launched the Kartu Prakerja program to address skill shortages in the labor market, particularly through digital training, with the goal of increasing employability and income levels. This study investigates the impact of Indonesia’s Kartu Prakerja program on workers’ earnings, with a particular focus on the role of digital skills training in enhancing income. Utilizing 2023 Sakernas data and Propensity Score Matching (PSM) to control for selection bias, we find that participation is associated with an average increase in monthly earnings of approximately 3.3%. However, this aggregate effects masks significant heterogeneity. The benefits accrue primarily to lower-middle-income workers, women, urban residents, and formal sector employees. We hypothesize that these groups possess more supportive environments for applying new skills. Conversely, we find no significant effect for the poorest workers, rural residents, and those in informal employment, pointing to structural barriers that prevent them from converting skills into higher wages. These findings are robust to a series of sensitivity checks. In conclusion, while Kartu Prakerja provides measurable benefits, it predominantly assists those already in more advantageous positions, highlighting the need for more targeted designs to achieve equitable income growth.

Policy for Empowering Technology-Based Startup Companies within University-Based Incubators

Sat, 06 Dec 2025 00:00:00 +0000

Technology‑based startups play a critical role in driving innovation and economic growth, yet they remain highly vulnerable to early failure due to limited capital, weak managerial capacity, and insufficient market access. University‑based business incubators have emerged as strategic ecosystems to nurture these startups by providing facilities, mentoring, training, and access to research networks and funding. This study aims to analyze the effectiveness of university business incubator policies in strengthening technology‑based startup companies, using the 7S framework (Space, Shared, Service, Support, Skill Development, Seed Capital, and Synergy) as the analytical lens. An exploratory sequential mixed‑methods approach was employed, beginning with qualitative interviews and observations, followed by quantitative surveys of 40 tenants (20 from a public university and 20 from a private university). The integrated findings reveal that the public university incubator (UGM) demonstrates stronger performance in service, support, skill development, and synergy, while the private university incubator (UII) shows relative advantages in space, shared facilities, and seed capital. Although all seven policy factors are generally effective, their priority differs across institutional contexts. These results highlight the need for differentiated policy design that recognizes the distinct strengths of public and private university incubators, while establishing the 7S framework as a national benchmark for evaluating startup incubation policies.

Factors Hindering the Implementation of the Minister of Home Affairs Regulation No. 84 of 2015: A Study of Nendali Village, East Sentani District, Jayapura Regency, Papua Province

Wed, 24 Dec 2025 00:00:00 +0000

The implementation of national policies at the village level is crucial for effective local governance and community development. In Indonesia, Minister of Home Affairs Regulation No. 84 of 2015 was established to standardize and professionalize village governance structures and procedures. An analysis is conducted of the factors influencing the implementation of Minister of Home Affairs Regulation No. 84 of 2015 in Nendali Village, East Sentani District, Jayapura Regency. A qualitative approach was employed, wherein data were sourced from observation, interviews, and literature studies. The results of the study show that policy implementation is quite effective thanks to good communication and coordination between village officials and strong local socio-cultural support. Despite limited resources and irregular guidance, the village government has been able to optimize the allocation of funds for training officials and institutional activities. Papuan cultural values, such as kinship and traditional leadership, have proven to strengthen community participation and the legitimacy of village administration. Thus, The confluence of endemic cultural norms and modern governance paradigms functions as a contributory factor to efficacious policy implementation in village settings.

Tourism Sector Development Strategy Based on SWOT-AHP in Palu City

M. Erifsandi*, Suparman Suparman, Patta Tope, Rita Yunus, Muhammad Ichsan — Sat, 27 Dec 2025 00:00:00 +0000

Palu City's tourism industry has the potential to increase local revenue, but its growth is hindered by the lack of a well-thought-out plan that considers its distinctive local features and susceptibility to natural disasters. This study aims to determine a tourism sector development strategy to support regional development in Palu City. The research method employs descriptive analysis with data collection through interviews with relevant government officials, local communities, and tourists. Data analysis was conducted using SWOT method to identify strategic position and AHP method to determine tourism development priorities. SWOT analysis results indicate that Palu City's tourism development strategy is positioned in Quadrant I with coordinates (0.35; 0.4), suggesting an SO (Aggressive) strategy. This strategy optimizes strengths and opportunities through enhancing natural and human resources quality. improving infrastructure, and supporting government policies for sustainable tourism development. AHP analysis reveals geographical conditions as the highest criterion with 54.9%, while natural tourism emerges as the priority alternative with 75.8%. These results are relevant to Palu City's geographical conditions with significant natural tourism potential. Policy implications from this study emphasize the need for Palu City government to focus on developing natural tourism by strengthening supporting infrastructure, enhancing tourism human resource capacity through continuous training, and integrating local community roles in sustainable destination management. The recommended aggressive strategy can serve as a reference for formulating effective tourism development programs that impact Regional Original Revenue (PAD) enhancement and community welfare improvement.

Reading the Ancestors Message: Semiotics of the Bajang Ratu Temple Ornaments in Mapping Local Wisdom and Majapahit Women

Ayub Muktiono* — Sat, 27 Dec 2025 00:00:00 +0000

Candi Bajang Ratu, a stepped gateway in Trowulan, Mojokerto, is a significant architectural relic from the Majapahit Kingdom (13^th-15th centuries CE). The ambiguous gendered name “Bajang Ratu” combining “bajang” (young/small) and “ratu” (a title for women) has prompted interpretations linking the site to influential female figures such as Gayatri Rajapatni. This article aims to uncover the representation of feminine values and local wisdom in the ornamental motifs of Candi Bajang Ratu through a semiotic approach. Employing a qualitative interpretive methodology, the study applies Roland Barthes’ semiotic framework (denotation, connotation, myth) and Charles Sanders Peirce’s triadic signs (icon, index, symbol), integrated within a hermeneutic case study design. Data were collected from secondary sources, including archaeological documentation and academic literature, and analyzed thematically and contextually. The findings reveal that the temple’s ornamental elements, such as hand-like profiles resembling prayer gestures, spiritually sacred spatial symbols, makara reliefs with flowing vines, vegetal motifs, symmetrical arches, fragments of Apsara figures, and the stepped gateway structure, symbolically embody feminine principles: fertility, wisdom, protection, cosmic harmony, flexibility, and adaptability. The curved, flowing architectural forms contrast sharply with masculine aesthetics characterized by rigidity and verticality, affirming the reverence for women not merely as individuals, but as cosmological and moral forces underpinning the kingdom’s continuity. Thus, Candi Bajang Ratu functions as a symbolic monument institutionalizing the recognition of feminine values within Majapahit culture. Far more than a stone structure, it is a symbolic archive of gentle yet enduring power, encapsulating sustainable values that mirror the character of Nusantara women.

The Influence of Customer Experience and Emotional Attachment on Customer Loyalty at Kopi Kenangan Banjarmasin

Kristin Mariyani*, Adista Anjar Diany — Mon, 29 Dec 2025 00:00:00 +0000

The rapid growth of coffee shops in Banjarmasin has intensified market competition, requiring brands to deliver superior customer experiences and develop emotional connections to sustain customer loyalty. This research assesses the effects of Customer Experience and Emotional Attachment on Customer Loyalty within the context of Kopi Kenangan in Banjarmasin. A quantitative approach was adopted, employing structured questionnaires distributed to 100 respondents. The analysis of data utilizing multiple linear regression with SPSS version 25 confirms that both independent variables demonstrate a noteworthy and favorable impact on loyalty. The findings suggest that superior customer experiences and profound emotional connections to the brand are key determinants of heightened customer loyalty. Further, Customer Experience emerged as the more predominant determinant of Customer Loyalty in comparison to Emotional Attachment. These outcomes underscore the critical necessity of strategically managing both experiential quality and emotional engagement within customer-brand interactions. The study shed light that continuous improvement in service quality and customer engagement is essential for strengthening emotional connections and maintaining long-term customer loyalty at Kopi Kenangan in Banjarmasin.

Allowances, Job Commitment, Work Environment and Employees’ Attitude in Government Ministries in Ekiti State

Joseph Adegboye Dada, Olayinka Funmi Babatunde*, Olusegun Micheal Ige — Tue, 06 Jan 2026 00:00:00 +0000

Employee attitude is essential for the efficiency and productivity of government institutions, as it influences the promptness, responsiveness, and quality of public service delivery. In the context of Ekiti State ministries, where challenges in motivating personnel persist, allowances and workplace conditions are seen as significant factors affecting job commitment and attitude. The study was conducted to examine the influence of allowances and work environment on employee attitude to work in government ministries in Ekiti State. Despite existing research on such factors globally and in parts of Nigeria, there is a scarcity of empirical studies within Ekiti State, which this study aims to address. The study employed a descriptive survey design. Data were collected from a random sample of 324 staff, selected from a population of 1715 across the ministries, using validated self-constructed questionnaires. Reliability was confirmed via Cronbach’s alpha (0.80). Data analysis involved descriptive statistics (frequency tables, percentages, mean, standard deviation) for research questions and inferential statistics (chi-square) to test hypotheses at the 0.05 significance level. The results indicated that allowances play a significant role in the job commitment of employees. Furthermore, a strong positive correlation was found between the work environment and employees’ attitudes towards work. It was concluded that both allowances and the working environment are crucial in determining the job commitment and attitude of employees in the ministries. Therefore, it is recommended that the government should review and ensure the prompt payment of all due allowances to motivate employees and enhance their contribution to ministerial operations.

Citizen Perspective on M-Governance and Ethical Challenges in Bangladesh

Rajib Chandra Das*, Israt Jahan Ruma — Fri, 16 Jan 2026 00:00:00 +0000

E-governance enhances public services, lowers corruption, and encourages state modernization. In a rapidly developing nation like Bangladesh, an e-government is not only a symbol of modernity but also a strategic tool for attaining the Sustainable Development Goals and inclusive economic growth. Bangladesh is in the vanguard of the least developed countries’ digital transformation thanks to the government’s Smart Bangladesh (Vision 2041) plans, which seek to accelerate the shift to digital public services. Despite improvements in internet services and communication networks, Bangladesh is predicted to remain the least developed nation in the UN E-Government Development Index by 2026. Additionally, the government launched services for mobile government, or m-government. Mobile phones are used by these services to facilitate transactions and provide information. For instance, users can use SMS or mobile apps to check their test results, pay bills, and get notifications from the government. In Bangladesh, where computer ownership is low but cell phone penetration is strong, this strategy is very helpful. To facilitate cashless transactions, the government collaborated with mobile banking service companies. For bill payment, money transfers, and business transactions, services like bKash, Nagad, and Rocket gained popularity. However, citizens face severe ethical difficulties with these services. This study examines the ethical issues surrounding the M-governance experience, namely mobile financial services. Finally, it suggests methods for embedding ethics at all levels of M-governance, such as strong data security legislation, digital literacy and equity initiatives, interconnected platforms, and ethical bureaucratic stewardship.

Trust as a Mediator of the Effect of Live Streaming and Online Customer Review on Purchase Decision of Wardah Cosmetic Products Among TikTok Online Shopping Users in Surabaya

Septy Ayu Dianty*, Wiwik Handayani, Ignatia Martha Hendrati — Tue, 20 Jan 2026 00:00:00 +0000

The swift rise of social commerce, notably TikTok Shop, has significantly altered how consumers shop for beauty products. This study analyzes the impact of live streaming and user reviews on the decision to buy Wardah products on TikTok Shop, with trust acting as a mediator. The research focused on Wardah customers in Surabaya who had used TikTok Shop for their purchases. Utilizing an accidental sampling technique, the study gathered responses from 105 participants. The data were processed using the Partial Least Squares Structural Equation Modeling (PLS-SEM) approach with SmartPLS 3.0 software. The findings demonstrate that live streaming significantly enhances both trust and purchase intentions. This pattern is mirrored for online customer reviews. Trust is also shown to be a significant direct predictor of purchase decisions. Finally, mediation analysis confirms that trust significantly mediates the paths through which live streaming and online reviews affect purchase decisions. This demonstrates that while live streaming and positive reviews directly encourage purchases, their effectiveness is substantially enhanced when they first establish consumer trust. For cosmetic brands on social commerce platforms, building trust is therefore a critical mechanism through which interactive marketing tools drive consumer decision-making.

The Effect of Company Size and Leverage on Company Value with Profitability as a Mediating Variable: A Systematic Literature Review

Reny Ernitasari*, Sri Rahayu, Wirmie Eka Putra — Tue, 20 Jan 2026 00:00:00 +0000

Against a backdrop of heightened post-pandemic corporate debt levels and rising financial risks, understanding the determinants of corporate value is critical. This study aims to conduct a systematic review of the influence of company size and leverage on company value with profitability as an intermediary variable. Using a Systematic Literature Review (SLR) approach, this study analyzes 20 selected articles published in leading national journals to identify patterns, inconsistencies, and research gaps related to the determinants of company value. The review results show that the effect of company size on company value is significant; several studies report a positive effect because larger companies have greater resource capacity and market credibility. Leverage shows both positive and negative results, with some studies showing a positive impact through tax benefits, while the majority highlight negative effects due to increased financial risk and potential difficulties. Furthermore, profitability shows a varied role as an intermediary variable. In some cases, profitability successfully mediates the relationship between company size and leverage on company value, but in many studies, the mediating effect is insignificant due to low efficiency, high debt burden, or weak operational performance. Overall, this systematic review reveals that company value is shaped by multidimensional factors, emphasizing the importance of effective asset management, balanced capital structure, and strong profitability in enhancing company value.