Individual Websites Research Articles

Web Accessibility: Designing User-Friendly Websites for Individuals with Visual Impairments

Web accessibility is crucial to creating an inclusive digital space, particularly for individuals with disabilities. This study aims to analyze the application of Web Content Accessibility Guidelines (WCAG) principles on the Tokopedia e-commerce platform and to develop a prototype website that optimally integrates accessibility elements. The research employs a qualitative approach with a case study method, including website analysis, assistive technology testing using the NVDA screen reader, and prototype website development based on Tailwind CSS. The results reveal that Tokopedia has implemented some accessibility elements, such as heading structures and alt text, but still has shortcomings in keyboard navigation, ARIA attributes, and product descriptions. The prototype website successfully addresses these issues by providing optimized keyboard navigation, comprehensive use of ARIA attributes, and informative product descriptions. Testing shows that the prototype website is not only accessible to visually impaired users but also enhances usability for the general audience. This study concludes that web accessibility can improve inclusivity and user comfort for all. The findings provide practical guidance for web developers to optimize accessibility design and create a more equitable digital experience. Therefore, this research contributes to the literature and web accessibility practices in Indonesia.

Evaluation of the Environmental Economic Performance of Carbon Exchange as an Emissions Trading Instrument in Indonesia

The carbon exchange is a regulatory system that governs Carbon Trading and maintains records of Carbon Unit ownership. This study empirically examines the influence of carbon intensity, tax avoidance, and macroeconomic stability on carbon disclosure. The population for this research consists of companies in the Mining, Petroleum, Agriculture, and Basic Industries and Chemicals sectors listed on the Indonesia Stock Exchange (IDX) during the 2019–2022 period. Data collection involved accessing the official IDX website, www.idx.co.id, and the individual websites of the companies. Using the purposive sampling method, 132 samples were selected to ensure relevance and alignment with the study’s criteria. The research employs logistic regression analysis as the method of data analysis to assess the relationship between the independent and dependent variables. The findings reveal that macroeconomic stability positively influences carbon disclosure practices, while neither carbon intensity nor tax avoidance has a significant effect on carbon disclosure. These results contribute to understanding the factors that drive carbon disclosure and provide insight into the role of economic conditions in shaping corporate sustainability practices

Reported Postoperative Surgical Site Infections in Tertiary Care Hospitals, Systematic Review of Recent Literature.

The objective of this systematic review is to evaluate the patterns of postsurgical site infections, pre-surgical antibiotics prophylaxis, and related clinical outcomes in the recently published literature. This systematic review is registered with PROSPERO registration number CRD42023398963. Several databases and individual journal websites were used to collect data from PubMed/Medline, TRIP, SCOPUS, Elsevier, Springer, ProQuest, and EMBASE. The established criteria of inclusion were RCTs, retrospective, prospective, and cross-sectional studies with patients who had a recent surgical procedure. Excluded from the study designs were systematic reviews, prospective studies, data on pediatrics, and data on disabilities. Quality assessment analysis of the results for randomized controlled trials (RCT) used CONSORT guidelines and STROBE guidelines for cross-sectional and cohort studies. A total of 328 articles were identified from different databases. Among them, 15 studies were included for data extraction and qualitative analysis. A total of 33,193 patients with an average rate of 11.5% (surgical site infections- SSIs) were identified in these studies during 2008-2022. The mean rate of SSIs among the total number of immunocompromised patients/procedures was 10.2%. The SSI on patients undergoing major surgical procedures with visible incisions was 26.0%. The majority of the studies reported the use of pre-surgical antibiotic prophylaxis. Cefazolin was mostly prescribed antibiotics and administered in 90% of patients. Other antibiotics included ceftriaxone (4%), cloxacillin (3%), and vancomycin (4%). The mean reported rate of SSIs with combination antibiotic prophylaxis therapy was 22.8%. This systematic review concluded the limited reported data on surgical site infections (SSIs). The overuse of pre-surgical antibiotic prophylaxis has been reported in several studies. This study recommended developing standardized guidelines on the use of antibiotics related to surgical cases rather than co-morbidities.

The Effect of Liquidity, Profitability, and Capital Structure on Firm Value with Firm Size as a Variable

This study investigates the influence of liquidity, profitability, and capital structure on firm value, with firm size serving as a moderating variable in financial sector companies listed on the Indonesia Stock Exchange. Liquidity is measured using the current ratio, profitability by the return on assets, and capital structure by the debt-to-equity ratio. Firm size is quantified using the natural logarithm of total assets, while firm value is determined through the price-to-book value obtained from financial statements and annual reports. Employing a quantitative research approach, the study focuses on financial sector companies listed on the Indonesia Stock Exchange. The sample comprises 57 companies selected through purposive sampling over a four-year period, resulting in 228 data points. Secondary data were collected using documentation techniques, sourcing financial reports and company annual reports from the official Indonesia Stock Exchange website (www.idx.co.id) and individual company websites. Data analysis was conducted using panel data regression analysis and moderation regression analysis (MRA) with EViews version 11. The results indicate that liquidity, profitability, and capital structure positively and significantly influence firm value, with firm size further enhancing these effects. Highlighting these findings, the study underscores practical implications for stakeholders, including investors and financial managers, in optimizing firm performance and value creation.

Evaluation of online videos and websites on inspiratory muscle training for individuals with chronic lung disease.

Inspiratory muscle training (IMT) is an effective rehabilitation modality for individuals with chronic lung disease. IMT can improve dyspnea, exercise capacity, and health-related quality of life. Online resources are common sources of health information for individuals. This study is the first to: 1) evaluate the content, reliability, quality, and comprehensibility of IMT-related videos and websites for individuals with chronic lung disease, and 2) determine the characteristics of these online resources. The search term "(respiratory muscle training) OR (inspiratory muscle training)" was used to evaluate the first 200 consecutive YouTube videos and 200 Google websites on IMT for chronic lung disease management. Online resources were evaluated using validated scoring metrics: modified DISCERN tool, Global Quality Scale (GQS), and Patient Education Materials Assessment Tools (PEMAT) understandability and actionability. Content comprising key IMT components was also scored. Forty videos and fourteen websites were included, with majority uploaded by for-profit organizations. Content scores (out of 25) were low (videos 7.7±4.4; websites 11.4±5.3, p=0.01). Benefits of IMT were often highlighted, but safety considerations were infrequently mentioned. Resources scored poorly on modified DISCERN (videos 2/5 IQR[1.0-3.0]; websites 3.5/5 IQR[2.0-4.0], p=0.001), and GQS scores (videos 2/5 IQR[2.0-3.0]; websites 3/5 IQR[2.8-3.3], p=0.003). Online resources met the PEMAT threshold (>70%) for understandability, but not actionability. Online IMT resources have mainly focused on the benefits of IMT and majority were developed by for-profit organizations. There is a need for high-quality, evidence-based online resources, as IMT is an important rehabilitation modality for chronic lung disease management.

Quality Assessment of Online Health Information on Thyroid Cancer in the Arabic Language: A Cross-Sectional Study.

Introduction The internet is a crucial source of health information, including cancer-related topics, but the quality and reliability of these resources can vary, affecting patient decision-making. Objectives This study aimed to evaluate the quality of thyroid cancer-related websites in the Arabic language, using the DISCERN tool, and explore the content and sources provided by different types of websites. Methods A total of 78 websites were included after excluding 21 based on predefined criteria (e.g., duplicates, non-functional uniform resource locators (URLs)). The websites were categorized into commercial, non-profit, and individual types. Two independent reviewers assessed the websites using the DISCERN tool. Interrater agreement was measured using the k-score. A one-way analysis of variance (ANOVA) was used to compare DISCERN scores across website types, and Spearman's rank correlation was used to analyze the relationship between website ranking and DISCERN scores. Results Almost all websites included a definition of thyroid cancer. Additionally, 15 websites (19.2%) covered the definition, clinical presentation, risk factors, diagnosis, and treatment, while 14 websites (17.9%) offered only clinical presentation, diagnosis, and treatment, and 11 websites (14.1%) offered other combinations of similar content. However, there was a lack of information regarding prognosis and predictors of outcomes following thyroid cancer surgery. The average overall DISCERN score for the 78 websites was 42.65 ± 12.35. Statistically significant differences were found in DISCERN scores across website types, with non-profit websites scoring the highest (38.93 ± 14.12), followed by commercial (37.67 ± 10.34) and individual websites (28.63 ± 10.02). A significant negative correlation was also found between website rank and DISCERN scores (Spearman's r = -0.38, p < 0.0001). Conclusion The study found that non-profit websites provide higher-quality thyroid cancer information compared to commercial and individual sites. Website ranking also affects content quality, emphasizing the importance of patients assessing online resources critically. Health organizations are encouraged to improve the visibility and quality of trustworthy information.

Do Information Processing Costs Matter to Regulators? Evidence from U.S. Mortgage Companies’ Supervision

ABSTRACT We examine the impact of reducing information processing costs on U.S. state regulators who supervise mortgage companies. State regulators traditionally disclosed enforcement actions only on their individual websites. A centralized repository, introduced in 2012, assembled enforcement records across states in one place, reducing a regulator’s cost to learn about enforcements in other states. Using a difference-in-differences design, we find that enforcement records posted on the centralized repository significantly increase the probability of subsequent enforcement actions against the same firm in other states. This suggests that reducing information processing costs helps state regulators identify companies engaging in misconduct. This effect is stronger for records from state websites where information is harder to process and for state regulators with more limited resources. Last, we observe that sanctioned lenders reduce the credit supply in other states after their enforcement records in one state are posted on the centralized repository. JEL Classifications: G21; G18; K2; M4.

Scaling up healthy eating in early childhood education and care: evaluation of the Appetite to Play capacity-building intervention.

The purpose of this study was to examine the dissemination of the healthy eating component of Appetite to Play at scale using the Reach, Effectiveness, Adoption, Implementation, Maintenance (RE-AIM) framework. The Appetite to Play capacity-building intervention is a set of evidence-informed implementation strategies aimed at enhancing the adoption of recommended practices for promoting healthy eating and active play in early years settings. The evaluation was pragmatic, employing both quantitative (surveys) and qualitative (interviews) data collection. The Appetite to Play intervention was delivered through in-person community-based workshops, virtual workshops, asynchronous e-learning and online resources. We received completed surveys from 1670 in-person workshop participants (96 % female), and twenty-three (all female) survey respondents also participated in a telephone interview. Approximately two-thirds of all participant groups were certified early childhood educators. Results indicated that Appetite to Play had high reach (25 867 individual website visits, 195 workshops delivered), effectiveness (significant increases in care provider's knowledge, confidence (P < 0·05) and high post-intervention intention to implement), adoption (11 % of educators in BC trained) and implementation (good alignment with implementation strategies and current practices), with a significant maintenance plan to support the intervention's future success. An evidence-based capacity-building intervention with an emphasis on training and provision of practical online resources can improve early years providers' knowledge, confidence and intention to implement recommended practices that promote healthy eating. Further research is needed to determine the impact on child-level outcomes and how parents can be supported in contributing to positive food environments.

Pengaruh Strategi Perusahaan, Transparansi, Kinerja ESG Terhadap Penghindaran Pajak Pada Perusahaan Konsumen Non-Cyclicals Sub Sektor Makanan dan Minuman Tahun 2020-2023

This research aims to determine the influenceof Corporate Strategy, Transparency, and ESG Performance on Tax Avoidance within the ConsumerNon-Cyclical Companies operating in the Food andBeverage Sub Sector listed on the Indonesia StockExchange between 2020 and 2023. The data utilizedcomprises secondary data extracted from companyannual reports and sustainability reports accessiblethrough www.idx.co.id or individual company websites. Employing a purposive sampling approach withspecific criteria, a total of 196 data samples were obtained. The data analysis methodology includesdescriptive tests and panel data regression testsconducted using Eviews 12 software. The findings reveal that (1) Corporate Strategyexhibits no discernible influence on Tax Avoidance, (2) Transparency demonstrates a favorable impact on TaxAvoidance, and (3) ESG Performance does not exhibita significant effect on Tax Avoidance.

THE INFLUENCE OF INTELLECTUAL CAPITAL ON FINANCIAL PERFORMANCE: EVIDENCE FROM LICENSED SPECIALIZED BANKS IN SRI LANKA

As the knowledge-based economy developed, businesses transformed their emphasis from physical to intellectual capital. Numerous studies have looked into how intellectual capital affects a company's value. The study's goal is to investigate, from 2010 to 2022, the connection between five licensed specialized banks' financial performance and their intellectual capital. The statements of comprehensive income and financial position for the pertinent years were the main sources of the data that were collected from the banks' annual reports available on their individual websites. The study's results were analysed and secondary quantitative data screened using EViews version 9 statistical software. The value-added intellectual coefficient method was used to measure the banks' performance based on their intellectual capital. The return on equity and return on assets are two indicators of the bank's performance. The value of intellectual capital was analyzed in three categories: structural, intellectual, and physical. Both simple and multiple regression techniques were used to assess the effect of intellectual capital on equity and assets. The study found a significant correlation between the value-added intellectual coefficient, its components, and financial performance. In both multiple regression models, the structural capital efficiency was statistically insignificant but positively correlated. Both multiple regression models showed statistical insignificance and negative correlation for the capital employed efficiency. Human capital efficiency was statistically significant and positively correlated in both multiple regression models. The most crucial value-added intellectual coefficient factor for generating value in Sri Lankan specialty banks operating in the banking industry is human capital efficiency. Additionally, this study will give stakeholders and possible investors some information to evaluate the value-creating potential of particular banks. The findings of the study help to increase decision-makers' understanding of the importance of intellectual capital as a crucial element that can enhance a business's ability to maintain its competitive position. This study is the first to examine the impact of intellectual capital on the financial performance of Sri Lankan licensed specialized banks through 2023. The study emphasizes how critical it is to investigate the relationship between intellectual capital and the banking industry's financial performance in greater detail.

Earnings Management, Financial Performance and Its Influence on Tax Avoidance with Independent Commissioners as Moderation

The exploration of the role between earnings management, financial performance (profitability), and their impact on tax avoidance is a compelling subject that hinges on perspective. This study aims to examine how earnings management and financial performance affect tax avoidance, with an independent commissioner serving as a moderating factor. Conducted as a quantitative analysis, the study focuses on non-cyclical consumer sector companies listed on the Indonesia Stock Exchange (BEI) from 2018 to 2022, using 80 companies as population, totalling 400 sample data to observe. Utilizing secondary data sourced from annual financial reports available on www.idx.co.id and individual company websites, the study employs a purposive sampling approach. Findings reveal that earnings management and financial performance significantly influence tax avoidance, while the presence of independent commissioners does not moderate the relationship between earnings management, financial performance, and tax avoidance.

Librarians’ attitudes toward library’s roles in environmental sustainability

The library community has been committed to environmental sustainability. The Green Library Movement calls for libraries to green their building, operation, and services. The International Federation of Library Associations and Institutions (IFLA) calls for libraries to actively contribute to the United Nations Sustainable Development Goals (SDGs) in which environmental sustainability was one of the three aspects of sustainability in addition to social and economic sustainability. The American Library Association (ALA) has also added sustainability as one of the core values of librarianship. However, previous research identified a gap between librarians’ perceived importance of environmental sustainability and the actual practices adopted in their libraries that contribute to environmental sustainability. This current study focuses on examining librarians’ attitudes toward the roles of libraries in environmental sustainability advocated by IFLA and ALA by surveying librarians from California, Florida, and Georgia identified from the state library association listservs and the individual library websites. Data were analyzed using descriptive and inferential statistics and the Geographic Information System (GIS) spatial analysis. Findings from this study will add to the understanding of the previously identified gap by comprehending the roles that librarians identify with regarding libraries’ contribution to environmental sustainability. The findings will also inform professional organizations on what support their members might need the most in promoting environmental sustainability in society and community. Lastly, the findings could inform curricular development for Library and Information Studies programs interested in preparing librarians with environmental awareness.

Out-of-Pocket Costs Burden in Marketplace Plans for People With Diabetes.

The Affordable Care Act (ACA) aims to expand coverage and increase access to health insurance. Despite the increase of insured individuals, there are a number of concerns about whether coverage and care are affordable. Prior studies document a growing concern with rising premiums and cost-sharing, including deductibles, particularly for those with chronic conditions. Compare the ACA marketplace plan availability and costs across 17 states for individuals with varying diabetic engagement profiles and their related medical needs. Descriptive Cost Analysis. Using Healthcare.gov individual state marketplace websites, we utilized a descriptive cost analysis to compare plan availability and costs for premiums, deductibles, co-payments, and co-insurance for an individual aged 63 years old, who was either a non-diabetic, high-engagement or low-engagement diabetic in urban and rural areas. Using the second lowest monthly premium silver plan (the benchmark plan), we calculated annual costs for premiums, co-insurance, co-payments, and deductibles for these individual profiles. We assessed statistical differences between health care component costs, within and across urban and rural areas, using t-tests. The findings highlight within and across states, individuals with diabetes, particularly low-engagement diabetics, spend a significantly higher percent of their income on additional health care costs, above their premium, than non-diabetic individuals. In some states, low-engagement diabetic patients spend upwards of 3 times more than high-engagement diabetic patients, highlighting an additional cost burden. For low-engagement diabetics, deductibles are driving health care spending with an average of 59% of health care spending coming from deductible payments. Results do not show statistically different costs across urban and rural diabetic patients. Despite the ACA's success, results highlight variation in plan availability across states and disproportionate cost burden placed on moderate income individuals, especially related to deductible, and co-payments for those with chronic diseases.

Access to evidence-based care: a systematic review of trauma and surgical literature costs across resource settings

BackgroundEvidence-based medicine has become the foundation for surgeons around the world to provide the most effective surgical care. However, the article processing charges (APCs) and subscription fees for surgical journals...

Do US quitsites present information related to providing services for LGBTQ individuals? An audit study.

Most US quitlines have quitsites and websites designated to promote their services. Quitsites have the potential to encourage LGBTQ individuals to utilize quitline services by explicitly mentioning the provision of LGBTQ-competent services. The present study audited quitsites to determine the presence of information regarding services for LGBTQ individuals. Using a checklist consisting of nine criteria, a cross-sectional audit of the US quitsites was conducted between 16 October and 8 November 2023. The audit was divided into two phases: 1) auditors coded all quitsites separately, and 2) auditors met with the first author to compare their coding and reach a consensus. The inter-rater agreement was calculated. Frequencies and percentages were calculated for each criterion. Auditors evaluated a total of 46 quitsites. Inter-rater agreement was 96.85%. Seven quitsites (15.2%) met 0 of the nine criteria, and 36.9% of the quitsites (17/46) met more than six criteria. Only one quitsite met 8 of 9. No individual website met all nine criteria. While 84.8% of quitsites had at least a singular mention of the LGBTQ community somewhere on their website, only 4.3% of the quitsites mentioned the LGBTQ community on their landing page. Most quitsites mentioned the LGBTQ community somewhere on their website (84.8%). However, only 4.3% of the quitsites mentioned the LGBTQ community on their landing page. Results suggest that quitsites explicitly mention the provision of services for LGBTQ individuals on their landing page, which has the potential to engage LGBTQ individuals into quitline services and reduce tobacco-related disparities.

"Lost in Translation: The Readability Discrepancy of Online Patient Educational Materials for PCL Surgery".

While the internet provides accessible medical information, often times it does not cater to the average patient's ability to understand medical text at a 6th and 8th grade reading level, per American Medical Association (AMA)/National Institute of Health (NIH) recommendations. This study looks to analyze current online materials relating to posterior cruciate ligament (PCL) surgery and their readability, understandability, and actionability. The top 100 Google searchs for "PCL surgery" were compiled. Research papers, procedural protocols, advertisements, and videos were excluded from the data collection. The readability was examined using 7 algorithms: the Flesch Reading Ease Score, Gunning Fog, Flesch-Kincaid Grade Level, Coleman-Liau Index, SMOG index, Automated Readability Index and the Linsear Write Formula. Two evaluators assessed Understandability and Actionability of the results with the Patient Educational Materials Assessment Tool (PEMAT). Outcome measures included Reading Grade Level, Reader's age minimum and maximum, Understandability, and Actionability. Of the 100 results, 16 were excluded based on the exclusion criteria. There was a statistically significant difference between the readability of the results from all algorithms and the current recommendation by AMA and NIH. Subgroup analysis demonstrated that there was no difference in readability as it pertained to which page they appeared on Google search. There was also no difference in readability between individual websites versus organizational websites (hospital and non-hospital educational websites). Three articles were at the 8th grade recommended reading level, and all three were from healthcare institutes. There is a discrepancy in readability between the recommendation of AMA/NIH and online educational materials regarding PCL surgeries, regardless of where they appear on Google and across different forums. The understandability and actionability were equally poor. Future research can focus on the readability and validity of video and social media as they are becoming increasingly popular sources of medical information.

Focusing on the Unfocused: Corresponding Perspectives on Connectivity among Small-scale Non-profit Organizations Working for Street Children in Bangladesh and Their Donors

Non-profit organizations (NPOs) serve marginalized communities, such as street children. Their success highly depends on donation raising and their connections with donors, where online platforms (e.g., social media, individual websites, messaging applications, etc.) play a significant role. However, small-scale NPOs face several challenges due to their resource constraints while connecting with their donors and potential donors using existing online platforms. Therefore, we performed a mixed-method study to investigate the connectivity settings among such NPOs, donors, and potential donors. Consequently, we performed semi-structured interviews with seven NPOs working for street children and 21 current donors and conducted an online survey of 42 potential donors in a developing country (Bangladesh). The findings of our study reveal influential factors pertinent to the non-profit work contexts and gaps in connectivity among the stakeholders (small-scale NPOs, donors, and potential donors). We discover that, although having an online presence positively impacts the credibility of small-scale NPOs to the donors by introducing familiarity, possessing such an online presence is challenging for the resource-constrained small-scale NPOs. We further provide several design implications for improving the connectivity settings, especially in terms of online connectivity, among the stakeholders by focusing on their essential roles and reduction of their encountered challenges.

Carbon footprint generated by individual port websites. The missing idea in the concept of green ports

One of the objectives of European Union policy, as well as the assumptions of cooperation as part of United Nations, is to ensure sustainable development. The gradual decarbonisation of the economy is a significant element in this case. This is particularly important in transport, including maritime transport. That is why the concept of Green Ports is so important. It contains various infrastructure solutions that maximize the benefits of maritime transport while minimizing environmental damage. However, the term Green Ports is defined in the literature it is difficult to have a clear definition, a formula that defines the term and there is still a place for scientific research in this area. The purpose of the research is to analyze the assumptions of the Green Ports concept in economic terms, but also in legal terms. The authors want to focus on Internet infrastructure as a link in reducing the carbon footprint in maritime transport. For this purpose, they studied the carbon footprint generated by the websites of selected seaports (seaports considered by the Transport and Environment report (https://www.transportenvironment.org/discover/port-carbon-emissions-ranking/) the most polluting European ports and ports considered by the Leading Maritime Cities 2022 report to be the most technologically advanced (DNV, Menon Economics, 2022 https://www.dnv.com/maritime/publications/leading-maritime-cities-of-the-world-2022.html). Both at the United Nations and at the level of organizations of a regional nature (such as the European Union), the use of new technologies is closely linked to economic development or social progress. For example, access to the Internet has been recognized by the United Nations General Assembly as a human right. This is because it has been recognized that the Internet provides an opportunity to realize other rights, such as freedom of expression, the right to information, and education. However, there are also risks associated with the use of new technologies, if only in terms of the right to privacy, intellectual property, security or a clean environment. According to the authors, far less attention is paid to the risks than to the benefits. That’s why it’s worth building awareness to prevent harm rather than repair it. An important aspect of the research is to show that websites consume large amounts of energy. In addition, they have a negative impact on the environment, influencing the production of a significant amount of carbon dioxide. The main finding from the empirical part is that there is a certain relationship between the generation of CO2 by the ports and the “cleanliness” of their websites.

INFLUENCE OF CONSUMER CHARACTERISTICS AND SITUATIONAL FACTORS ON ONLINE IMPULSIVE BUYING OF FASHION PRODUCTS

This study aims to analyze the influence of consumer characteristics (impulse buying tendencies, shopping enjoyment tendencies, and consumer moods) and situational factors (individual situation, website quality, motivational activity by retailers, and product attributes) on online impulsive purchases of fashion products in the past pandemic. The population in this study were people who live in Surakarta and Solo Residency with a sample of 100 respondents. The data collection method used a questionnaire, and was processed using the Partial Last Square (PLS). Data analysis used in this study included instrument tests, classic assumption tests consisting of multicollinearity tests, Goodness of Fit (GoF) tests and partial tests (t-test). The results of the study show that first, there are four accepted hypotheses where the factors that influence online impulsive purchases of fashion products are shopping enjoyment tendencies, shopping enjoyment tendencies, consumer moods, and product attributes. Second, other factors such as individual situation, website quality, and motivational activity by retailers are not the determining factors.

Equity Valuation using Free Cash Flow to Equity on IDX30 Index for 2022 to 2026 Period Projection

The purpose of this paper is to determine the intrinsic values of several companies listed in the Indonesian stock market.This study employs the two-stage Free Cash Flow to Equity (FCFE) valuation model and makes a five-year projection based on historical data from 2016 to 2021.Six listed companies from theIDX30 index, thirty are selected for this study based on certain criteria. Data used include annual reports, risk-free rates, and historical prices from individual company websites, Yahoo Finance, and the Indonesia stock exchange market authority (IDX) website. Results show that two consumer goods companies, INDF and UNVR,are undervalued, while four companies from various sectors, ASII, CPIN, MIKA, PTBA, are overvalued. This finding suggests that investors can apply a straightforward valuation model to determine the true value of companies and make investment decisions based on the results. However, the FCFE valuation model is based on a set of assumptions that may differ from one investor to another, leading to different valuation results.