Explore publications.

This paper investigates the relationship between macroeconomic factors, firm financial position, and firm value in Indonesia's property and real estate sector from 2017 to 2022. The property and real estate sectors significantly influence Indonesia's economic growth. Nevertheless, the real estate sector has encountered significant obstacles in recent years, notably during the COVID-19 pandemic, due to volatility in interest rates, high construction costs, and the sluggish property market. This study aims to address the existing research gap by investigating the relationship between macroeconomic indicators, including GDP growth, inflation rates, and interest rates, as well as financial factors, such as profitability and leverage, on the industry’s firm value over a specified timeframe. Using panel data regressions, the study analyzes 162 observations from 27 listed property and real estate companies. The empirical findings demonstrate that property and real estate firms have the potential to enhance their overall performance and increase shareholder value by considering the interconnectedness of economic conditions and the financial position of the firm. Profitability emerges as a significant predictor of firm value, while the selected macroeconomic factors have significant and insignificant effects on the valuation of firms. Meanwhile, since this industry has substantial leverage, this variable does not affect firm value. This study also highlights that the critical component that drives the evaluation of a firm's value is heavily influenced by the specifics of the industry and the regulatory framework in which the business operates.

The digital transformation in business schools during the COVID-19 pandemic is unique since external factors, not internal initiatives, drive it. This event is called 'forced digital transformation.' It raises new challenges for business schools to ensure that the transformation continues in the future since the post-pandemic situation has encouraged social and economic activities to return offline. As the situation begins normal, less external pressure can result in declining creative initiatives from business schools to explore more opportunities from digital technologies. Consequently, the digital transformation process that started during the pandemic could stagnate. One of the essential factors that play a role in encouraging continuous digital transformation is leadership. Leadership is believed to be the core of every digital innovation process. However, research investigating the role of leadership in business schools' digital transformation during the COVID-19 pandemic is still limited. Therefore, this study aims to describe leadership's role in structural and behavioral changes during forced digital transformation in business schools by applying a systematic literature review.