Goods Sector Research Articles

Determinants of Firm Value: Empirical Evidence from The Primary Consumer Goods Sector Companies

Investor decisions to invest in a company are partially influenced by the company's value. Investors are increasingly attracted to companies that can generate sustainable profits, ultimately enhancing the company's value. This study aims to analyze the influence of intellectual capital, profitability, leverage, and asset turnover on company value, using a sample of companies listed on the Indonesia Stock Exchange in the primary consumer products sector between 2017 and 2021. Using purposive sampling, 61 companies were selected as samples. With observations over 5 years, a total of 305 data observations were obtained. Multiple linear regression analysis was applied to secondary data sourced from the financial accounts of the selected organizations. The correlational relationship between the dependent variable and the regressors was determined by analyzing the data obtained using SPSS tools. The study results indicate that intellectual capital does not affect company value, profitability, and asset turnover positively affect company value, but leverage negatively affects company value. The positive impact of profitability and asset turnover indicates that an increase in these factors will enhance the company's value. Conversely, the negative impact of leverage suggests that an increase in leverage will decrease the company's value.

Impact of the Russia–Ukraine War: evidence from G20 countries

Purpose This paper aims to investigate the impact of geopolitical events of the Russia–Ukraine conflict on the stock market volatility of G20 countries. Furthermore, the paper also investigates the possible reasons for any similarities or differences in the results of the three sectors. Design/methodology/approach This paper measures the impact of the stock market sectoral index price (SIP) by using the daily closing price as a dependent variable. In addition, this study uses three independent variables: geopolitical risk (GPR), commodity price (CP) and foreign exchange rate (FER). Seventeen countries from the G20 are analyzed using a daily timeframe from September 2021 to August 2022 (before and during the Russian invasion). Findings The results revealed that FER, CP and GPR all affect SIP, but the level of significance and positive/negative signs vary in all three sectors. The positive FER affects SIP in all sectors, while the negative CP and GPR significantly impact SIP in the energy and transportation sectors. Research limitations/implications This study’s research model is more suited for transportation and energy than consumer goods. Future researchers can enhance the research model for the consumer goods sector by incorporating additional variables to understand their relationship with SIP better. Originality/value This study explores the impact of the Russia–Ukraine conflict on the stock market in G20 countries, focusing on the top three most affected sectors.

Selection of Location Factors in the Luxury Goods Sector Using Statistical Methods and the Grey Set Theory

Theoretical background: The area of interest undertaken in this publication is the impact of location factors on the high turnover of luxury goods sales. The selection of these factors was based on the results of previous studies available in the literature. However, they mainly concern the location of points of sale of each type of goods. Therefore, it was necessary to get acquainted with the specifics of trading in luxury goods and choose those among the factors that are associated with it. Purpose of the article: The analysis covered not only the impact of the factors themselves, but also the links between them and the differentiation of the impact depending on the size of the agglomeration in which the places of sale are located. Research methods: For this purpose, an in-depth statistical analysis and the grey set theory were used. The use of the theory of grey set is important in the case of the research carried out due to the ambiguity of the occurrence of all factors in relation to the sample analyzed. Some of them do not apply to the entire study population. Main findings: The obtained results show the overall importance of location factors for achieving the expected level of turnover, as well as value them within the adopted categories.

The Impact of Customer Retention on Organization Profitability in the FMCG Sector in Nigeria

In the competitive domain of fast-moving consumer goods (FMCG), retaining customers is essential for the overall organisational performance of an FMCG company. This research investigated the impact of customer retention on organisational profitability in the Fast-Moving Consumer Goods (FMCG) sector in Nigeria. The study employed a cross-sectional survey approach, with data collected from 248 employees in 10 different FMCG companies in Oyo State, South West, Nigeria. The findings revealed a strong positive correlation (r=0.783) significant at p < 0.01 between customer retention and organisational profitability, highlighting customer retention as a key driver of sustained profitability. The study further explored specific components of customer retention, including personalised marketing, loyalty programs, quality products, and customer support, all of which showed strong positive associations with organisational profitability. Survey results indicated that customer satisfaction is a leading factor contributing to customer retention, emphasising the importance of understanding and meeting customer expectations. Based on these findings, recommendations are provided for FMCG companies to prioritise customer retention strategies, such as personalised marketing and quality customer support, to enhance organisational profitability and success in the Nigerian FMCG sector.

Tobin's Q dan Determinannya: Studi Empiris

This research aims to analyze factors that influence firm value, including profitability, leverage, liquidity and firm size. Research on 56 Primary Consumer Goods Sector Companies in Indonesia with an observation period of 2017 to 2021. Data analysis carried out using multiple linear regression shows that profitability has a positive effect while leverage has a negative effect on firm value. This research fails to prove the role of liquidity and company size in explaining changes in firm value.

Economic policy uncertainty and Indian equity sectors: a quantile regression approach

Purpose This paper aims to investigate the effect of economic policy uncertainty (EPU) shocks on Indian equity market sectors. The effect of domestic (Indian) and foreign (USA) EPU shocks is examined on ten major Bombay Stock Exchange sectors. Design/methodology/approach The study uses data covering the period from September 2005 to July 2023 and uses the methodology of quantile regression to investigate the heterogenous response of stock market sectors under diverse market conditions explained through the analysis of conditional quantiles distribution. Findings The results demonstrate that domestic and foreign EPU shocks negatively affect most of the sectors in bearish market conditions. Industrials, commodities, utilities, consumer discretionary and financial services are the most affected sectors by domestic EPU. However, the information technology sector is found to be immune to domestic EPU shocks but negatively affected by foreign EPU shocks. On the other hand, energy, financial services and fast-moving consumer goods sectors are found to be immune to foreign EPU shocks but are negatively affected by domestic EPU shocks. Practical implications Understanding the heterogeneous response of different sectors to EPU shocks could help investors and portfolio managers identify portfolio diversification opportunities. Originality/value This study makes an inaugural attempt to examine the responses of Indian stock market sectors to domestic and foreign EPU shocks using the approach of quantile regression and unveils the previously unexamined diverse reactions of Indian stock market sectors to EPU shocks originating from both India and USA.

Beyond Numbers: Exploring Factors Influencing Company Value In Indonesian Consumer Goods (2018-2022)

This study analyzed Indonesian consumer goods' business value determinants (2018-2022) using numerical methods, focusing on the impact of key variables like debt-to-equity ratio, total asset turnover, logarithm of assets, and return on equity. The research investigated the influence of these factors on companies listed on the Indonesian Stock Exchange, revealing significant effects of debt-to-equity ratio and total asset turnover on return on equity and subsequently on price-to-book value. The logarithm of assets directly affected return on equity but had no impact on price-to-book value. Regression analysis, measured by R-Square and Q-Square values, demonstrated the variables' impact on cost-to-book value and return on equity. The study confirmed that financial leverage and asset utilization significantly affect enterprise value, highlighting the importance of effective financial management in optimizing investment returns in Indonesia's consumer goods sector.

Komunikasi Interaksi Simbolik Spoke Person Badja Coffee Dalam Meningkatkan Brand Awareness Lokalate

The inevitable evolution of consumer needs drives companies, particularly in the Fast Moving Consumer Goods (FMCG) sector, to continuously seek innovation to enhance competitiveness and have a long-term impact on consumers' lives. Often, these innovations are introduced through events. In this context, the importance of the speaker or spokesperson role as a communicator in building trust and conveying messages to the audience is crucial. This research employs a qualitative case study method, focusing on the "Ngopinspirasi" event conducted by PT Nutrifood Indonesia for the Lokalate brand at Nutrihub Bandung, with the increasing awareness among students. The analysis centers on the application of symbolic interaction communication by the micro-business Badja Coffee as a spokesperson during the event to enhance Lokalate awareness at Nutrihub Bandung. The study utilizes Mead's symbolic interaction theory, encompassing three concepts: mind, self, and society. The research subjects the owner of Badja Coffee as the spokesperson and the marketing team of PT Nutrifood Indonesia in Bandung. The findings indicate that interaction communication flows smoothly, harmoniously, with involvement building a close relationship between the spokesperson and the audience. The study also applies Mead's symbolic interaction theory to analyze symbols of the spokesperson's behavior, such as clothing and speech.

Do non-fungible tokens create long-term value for luxury brands? The effect of NFT promotions on customer equity

The potential of non-fungible tokens (NFTs) as promotional devices has gained attention across various industries. Particularly in the luxury goods sector, NFTs are being recognized as potentially valuable tools that can help in obtaining positive marketing outcomes. This study introduces the concept of NFT-based customer equity, which is designed to help understand the relationship between NFTs and consumer behavior. To achieve this objective, this study applies the mixed-method approach, in particular, by conducting in-depth interviews to identify key characteristics of NFT attributes that contribute to positive consumer perceptions—scarcity, resaleability, and trendiness—and following up with a survey examining these attributes’ impact on three dimensions of customer equity. Additionally, this study finds a moderating effect of online community engagement in that those who are highly engaged with NFTs in online forums show higher purchase intention. The findings of this research validate the idea that NFTs can create customer equity for consumers that can translate into increased purchase intention and increase the projected lifetime value of a customer. Practical implications for managers are discussed.

Pengaruh Cash Flow, Financial Distress, Growth Opportunities terhadap Prudence Akuntansi dengan Ceo Retirement sebagai Variabel Moderasi

The purpose of this research is to determine the effect of cash flow, financial distress, growth opportunities on accounting prudence with CEO retirement as a variable moderating. Population in this research is companies listed on the Indonesia Stock Exchange 2020-2022 in consumer goods sector. By Moderated Regression AnalysistThe result of this research showed that cash flow, financial distress, growth opportunities have effects on accounting prudence, while CEO retirement does not moderate cash flow, financial distress, growth opportunities toward accounting prudence.

Cultivating a culture of safety and innovation in the FMCG sector through leadership and organizational change

This paper examines the role of leadership and organizational change in shaping such a culture within FMCG companies. Drawing upon insights from organizational psychology, change management, and leadership theories, the paper explores strategies for creating an environment that prioritizes safety, encourages innovation, and fosters continuous improvement. Key themes include the importance of leadership commitment to safety and innovation, the need for clear communication and transparency, and the value of employee empowerment and engagement. Additionally, the paper discusses the role of organizational structures, systems, and processes in supporting a culture of safety and innovation. Through case studies and real-world examples, the paper highlights best practices and practical strategies for FMCG companies looking to cultivate a culture of safety and innovation. Cultivating a culture of safety and innovation within the fast-moving consumer goods (FMCG) sector is crucial for fostering resilience, driving growth, and ensuring long-term success These include fostering a learning mindset, promoting collaboration and knowledge sharing, and leveraging technology to enhance safety practices and drive innovation. Ultimately, the paper argues that cultivating a culture of safety and innovation requires a holistic approach that involves leadership commitment, organizational change, and active engagement from employees at all levels. By prioritizing safety and innovation, FMCG companies can not only mitigate risks and ensure compliance but also drive creativity, improve operational efficiency, and maintain a competitive edge in today's rapidly evolving marketplace. Keywords: FMCG Sector, Safety Culture, Organizational Change, Technology Integration, Employee Engagement, Innovation.

Strategic Implementation of Big Data Automation for Wastage Management Reporting Using Analytical Hierarchy Process in The Tobacco Industry

In today's data-driven era, big data automation is crucial, often referred to as "the new oil." Industries, particularly the fast-moving consumer goods (FMCG) sector like the tobacco industry, must undergo digital transformation to stay competitive. The integration of big data automation with reporting processes is significantly correlated, as it can automate repetitive reporting tasks, enhancing efficiency. This automation enables decision-makers to make faster and more accurate decisions. This research focuses on assessing the capacity and factors involved in the collaboration between the operations department and the digital team to automate repetitive reporting processes by integrating big data from various sources such as SAP and Microsoft Forms. The study employs a combination of qualitative and quantitative methods, along with the Analytic Hierarchy Process (AHP), to identify optimal business solutions. Insights from this research prioritize big data automation and reporting projects to meet business needs. Results indicate among four alternative project groups, the Central Data Wastage project is the top priority with a score of 51.7%, followed by SMD Wastage at 25.2%, PMD Wastage at 14.7%, and FMD Wastage at 8.4%. Five stakeholders participated in this research, including a product manager, business user, business analyst, and two developers. These participants contributed to assessing criteria, sub-criteria, and alternative project groups. This research not only helps prioritize projects but also facilitates seamless digitalization within the operations team, fostering synergy with the digital team.

The Moderating Role Of Intellectual Capital In The Relationship Between Tax Avoidance And Firm Value

This research examines the relationship between tax avoidance and firm value by placing intellectual capital as a moderating variable. The research was conducted on companies listed on the Indonesia Stock Exchange (BEI) operating in the primary consumer goods sector, especially those in the food and beverage industry for 2019-2022. The method uses multiple linear regression panel data analysis to test the hypothesis. There were 68 samples used in testing after purposive sampling was carried out. The research results show that tax avoidance does not affect firm value. The presence of intellectual capital also cannot moderate the relationship between these two variables. It is hoped that this research can add to the literature for further research regarding the relationship between tax avoidance and firm value by including intellectual capital as a moderating factor. This research also contributes to investors making investment decisions related to tax planning policies in companies in the primary consumer sector, especially those in the food and beverage industry.

Impact of Digital Payment System on the Goods Sector

Impact of Digital Payment System on the Goods Sector

The Global Transmission of Real Economic Uncertainty

AbstractUsing a sample of 39 countries representing 88% of global GDP, we find that real economic uncertainty (REU) has negative long‐lasting domestic economic effects and transmits across countries. The international spillover effects of REU are both statistically significant and economically meaningful, and trade ties play a key role in explaining its transmission across countries. Innovations to the foreign component of global REU can contribute up to 16% of the future variation in domestic industrial production. This effect is disproportionately larger on its manufacturing component, which contributes the most to the tradable goods sector, than on its retail sales component.

Investigating the Impact of Product Quality, Price Sensitivity, and Brand Reputation on Consumer Purchase Intentions in the FMCG Sector

This research investigates the intricate dynamics influencing consumer purchase intentions within the fast-moving consumer goods (FMCG) sector, focusing on the impact of product quality, price sensitivity, and brand reputation. A quantitative research design was adopted, with data collected from a sample of 500 respondents through an online survey. Descriptive statistics, correlation analysis, regression analysis, and ANOVA were employed to analyze the data comprehensively. The findings reveal a strong positive correlation between perceived product quality and consumer purchase intentions, emphasizing the importance of maintaining high-quality standards. Price sensitivity was found to negatively impact purchase intentions, highlighting the need for strategic pricing strategies. Brand reputation emerged as a significant predictor of purchase intentions, emphasizing the enduring value of strong brand equity. Demographic analyses identified distinct target segments based on age and income levels. The study contributes valuable insights for FMCG companies in developing tailored marketing strategies and enhancing market competitiveness.

The Relationship Between Industry 5.0 Process and ESG Process: A Qualitative Analysis in the Context of Türkiye's BIST Sustainability 25 Index White Good Sector

This study aims to determine the relationship between Industry 5.0 processes and ESG (environmental, social and governance) processes. For this purpose, the annual reports of Vestel and Arçelik enterprises in the white goods sector, included in the BIST Sustainable 25 Index in Turkey, were analysed. Descriptive and content analysis were used in the study. The results show a close relationship between the concepts of Industry 5.0 and ESG processes. It can also be said that this relationship is bidirectional. In other words, investing in the ESG process will contribute positively to the Industry 5.0 process, and in the Industry 5.0 process will contribute positively to the ESG process. As a result of the analysis, it was determined that both enterprises carried out studies in accordance with the components of digital transformation, environment, employees and society and resilience of businesses in the Industry 5.0 process. In addition, studies on the ESG process have shown that both companies have similar characteristics. It is also one of the results that the studies carried out within the scope of the ESG process are carried out in collaboration with technology. No terminology related to Industry 5.0 was found in the documents analysed for either Vestel or Arçelik. The study results reveal that both companies exhibit weaknesses in the "Technology for Employees and People" section, an essential component of the Industry 5.0 process. The similarity of both companies in ESG-related issues may be associated with their inclusion in the BIST Sustainability 25 index. Integrating the technologies inherited from the Industry 4.0 process into the Industry 5.0 process and the themes of the ESG concept reveals the motto "Technology for Humanity".

The Influence of Ownership Structure, Board Composition and Financing Decisions on the Performance of Manufacturing Companies in the Consumer Goods Sector

This research aims to investigate the impact of ownership structure, board size, proportion of independent directors, funding decisions, company size, and dividend policy on the performance of consumer goods manufacturing companies. Purposive sampling was employed for data collection. Results indicate that ownership structure and board size positively and significantly influence company performance, as measured by Tobin's Q and ROA. However, the proportion of independent directors, funding decisions, company size, and dividend policy do not exhibit significant effects. Consequently, effective management of ownership structure and board size is crucial for enhancing company performance in the consumer goods manufacturing sector. These findings provide valuable insights for companies to improve their performance and corporate governance practices, fostering stability and sustainability in alignment with economic trends.

A Study on the Employee Welfare Schemes on Organizational Performance in the Fast-Moving Consumer Goods (FMCG) sector.

In today's dynamic business environment, characterized by fierce competition and rapidly evolving consumer demands, the fast-moving consumer goods (FMCG) sector stands out as a pivotal industry. Within this landscape, organizations strive not only to maintain competitiveness but also to thrive by attracting, motivating, and retaining top talent. Employee welfare schemes have emerged as a strategic tool for achieving these objectives, as organizations recognize the significant impact of employee well-being on overall organizational performance. This study endeavours to delve deeper into the nexus between employee welfare schemes and organizational performance within the FMCG sector. With the overarching aim of contributing to the existing body of knowledge in human resource management and organizational studies, this research adopts a comprehensive mixed-methods approach. By integrating quantitative analysis and qualitative insights, this study seeks to provide a nuanced understanding of the multifaceted relationship between employee welfare initiatives and organizational success. At its core, the quantitative component of this research entails the collection of primary data through surveys administered to employees and managers across diverse FMCG companies. These surveys will capture vital information regarding the types of employee welfare schemes implemented, their perceived effectiveness, and their impact on key performance indicators (KPIs) such as productivity, employee satisfaction, retention rates, and overall organizational success metrics.

Comparative analysis and implementation of a transformative business and supply chain model for the FMCG sector in Africa and the USA

This paper conducts a comparative analysis of business and supply chain models in the Fast Moving Consumer Goods (FMCG) sector between Africa and the USA, aiming to identify transformative strategies for enhancing efficiency, sustainability, and market penetration. The FMCG sector serves as a critical component of both economies, contributing significantly to GDP and employment. However, stark differences in infrastructure, consumer behavior, and regulatory environments between Africa and the USA necessitate tailored approaches to business and supply chain management. Drawing on empirical data and case studies, this study examines key elements of successful FMCG models in each region, including distribution networks, inventory management, technology adoption, and market dynamics. It explores how factors such as urbanization, income levels, and cultural preferences influence consumer demand and supply chain strategies. Moreover, the analysis delves into the impact of emerging trends such as e-commerce, sustainability, and digitalization on FMCG operations in both regions. The findings reveal opportunities for mutual learning and adaptation between Africa and the USA. While the USA boasts mature infrastructure and advanced technological capabilities, Africa offers potential for innovative solutions tailored to its unique challenges and opportunities. Through cross-regional knowledge exchange and strategic partnerships, FMCG companies can develop hybrid models that combine the best practices from both regions to drive growth, reduce costs, and enhance resilience. The study concludes by proposing actionable recommendations for FMCG companies seeking to implement transformative business and supply chain models in Africa and the USA, emphasizing the importance of flexibility, agility, and stakeholder collaboration in navigating diverse market landscapes and driving sustainable growth.