THE INFLUENCE OF OPERATIONAL COST EFFICIENCY, AND LIQUIDITY, DIGITALIZATION ON COMPANY VALUE IN THE DIGITAL ERA
Abstract
Introduction/Main Objectives: This study aims to examine the effects of digital digitalization, operational cost efficiency, and liquidity on firm value among companies operating in the Bank KBMI 3 during the Digital Era. Background Problems: Digitalization, operational efficiency, and liquidity can theoretically increase company value, however, previous research results have shown inconsistent effects of these independent variables on company value. In addition, there is still limited research that comprehensively examines the simultaneous effects of these three variables in the context of KBMI 3 banking, especially in the period of accelerated digital transformation after the COVID-19 pandemic. Novelty: This study provides an original contribution in empirically showing that studies related to the synergy between operational efficiency, liquidity, and digitalization do not necessarily have a positive impact partially, but simultaneously still significantly affect the company's value. This shows the need for a holistic digital strategy and organizational structure readiness so that digital transformation does not become a short-term burden on the company's value. Research Methods: The method used uses a quantitative approach with a panel data regression method to test the effect of operational efficiency, liquidity, and digitalization on company value. The sample consists of 10 banks included in KBMI 3 during the 2020–2024 period, which were selected using a purposive sampling technique based on certain criteria. Finding/Results: The results provide findings where digitalization has a negative impact on company value. While operational efficiency and liquidity do not have an impact on company value. However, simultaneously the three variables have a significant effect. Conclusion: This study concludes that digitalization, operational efficiency, and liquidity simultaneously have a significant effect on company value in KBMI 3 banks during the period 2020–2024. However, partially, only digitalization has a significant effect in a negative direction, so the implication is the need for mature organizational planning and readiness in digital transformation in order to increase company value sustainably and not create a risk perception for investors.
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