TY - JOUR AU - Kumalasari, Putu Diah AU - Endiana, I Dewa Made PY - 2023/06/30 Y2 - 2026/03/03 TI - Do Financial Performance Determine Firm Value? Evidence from Food and Beverage Companies in 2018-2021 JF - Nexus Synergy: A Business Perspective JA - Nexus VL - 1 IS - 1 SE - Articles DO - 10.61230/nexus.v1i1.9 UR - https://firstcierapublisher.com/index.php/nexus/article/view/9 SP - 14-20 AB - <p>Firm value becomes one of investors’ concerns in making economic decisions since it describes the company performance. It becomes a perception associated with stock prices, where an increasing stock price will increase firm value. An increasing firm value will impact the shareholders' welfare. This study aims to determine the effect of asset growth, company size, investment decisions, funding decisions, and dividend policies on firm value in food and beverage companies listed on the Indonesia Stock Exchange in 2018-2021. By using a purposive sampling method, a total of 9 companies were sampled in this study. The data was analyzed by using the multiple linear regression analysis technique. The results suggest that firm size and investment decisions have positive effect on firm value. Meanwhile, asset growth and funding decisions do not affect firm value, and dividend policy has negative effect on firm value. Based on the results, companies need to pay more attention to firm size and investment decisions. Regarding dividend policy, investors tend to consider the tax rate; if the dividend tax rate is greater than the capital gains tax rate, then investors are contented that profits are retained. Meanwhile, asset growth and funding decisions are not a problem for the company can generate profits and manage debt efficiently.</p> ER -

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        <full_title>Reflection: Education and Pedagogical Insights</full_title>
        <abbrev_title>Reflection</abbrev_title>
        <issn media_type="electronic">2988-3636</issn>
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          <year>2026</year>
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          <title>Value Co-Creation and Digital Marketplace Strategy in Enhancing Commercialization Performance, An Educational Perspective from Fortified Goat Milk Entrepreneurship</title>
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          <person_name contributor_role="author" sequence="first" language="en">
            <given_name>Arih Dwi</given_name>
            <surname>Prihastomo</surname>
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            <given_name>Nicholas</given_name>
            <surname>Renaldo</surname>
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            <given_name>Achmad Tavip</given_name>
            <surname>Junaedi</surname>
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            <given_name>Harry Patuan</given_name>
            <surname>Panjaitan</surname>
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            <given_name>Nyoto</given_name>
            <surname>Nyoto</surname>
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            <given_name>Marice Br</given_name>
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            <given_name>Muhammad Pringgo</given_name>
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            <given_name>Yenny</given_name>
            <surname>Wati</surname>
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            <given_name>Luciana</given_name>
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          <jats:p>The rapid transformation of the digital economy has reshaped entrepreneurial practices, particularly within agribusiness sectors that increasingly rely on digital platforms to enhance market reach and competitiveness. This study examines the role of value co-creation and digital marketplace strategy in enhancing commercialization performance from an educational perspective within the context of fortified goat milk entrepreneurship. Using a quantitative explanatory design, data were collected from 156 participants involved in entrepreneurship learning programs integrated with real-world digital commercialization activities. The data were analyzed using Partial Least Squares–Structural Equation Modeling (PLS-SEM). The results indicate that value co-creation significantly influences digital marketplace strategy and commercialization performance. Digital marketplace strategy also significantly affects commercialization performance and partially mediates the relationship between value co-creation and commercialization performance. The model demonstrates substantial explanatory power, suggesting that collaborative engagement supported by structured digital systems enhances measurable business outcomes. From an educational perspective, the findings reveal that commercialization performance can function as a practical learning outcome within experiential entrepreneurship education. The study contributes to the literature by integrating service-dominant logic, digital marketing strategy, and entrepreneurship education into a unified framework. It highlights that digital value co-creation is not only a strategic driver of market performance but also a transformative pedagogical approach in technology-enabled agribusiness development.</jats:p>
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          <month>01</month>
          <day>31</day>
          <year>2026</year>
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