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Digital Transformation and Firm Value: A Resource-Based View on Indonesian Non-Cyclical Consumer and Healthcare Listed Companies

Jurnal Dinamika Manajemen · Vol. 17 No. 2 (2026) · hlm. 363–377

DOI
10.15294/jdm.v17i2.63573
ISSN
2337-5434
Terbit
2026-09-01
Penerbit
Universitas Negeri Semarang
Bahasa
eng

Abstrak

Technological change and economic uncertainty are challenging the ability of listed companies in the non-cyclical consumer and healthcare sectors to preserve their market value. According to the Resource-Based View (RBV) theory, digital transformation involves the automation of administrative tasks whilst also representing a strategic and dynamic capability capable of creating sustainable competitive advantage and supporting the achievement of better valuations from investors. This research analyzes the impact of digital transformation on firm value, particularly for non-cyclical consumer and healthcare listed companies on the Indonesia Stock Exchange (IDX) for the period 2015-2024. An analysis of 10 selected listed companies, as determined by purposive sampling, was conducted using multiple linear regression. The findings of this study indicate that internal digital investment and commitment play a significant role in enhancing a firm’s intangible assets, as reflected in a significant increase in the Tobin’s Q value. Theoretically, this study broadens the use of RBV theory in the context of digitalization within non-cyclical consumer and healthcare sectors of an emerging market. In practice, this study offers strategic direction to senior management on how to allocate funds for technology purchases in a way that builds a competitive edge which is hard for other companies to imitate.

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28 penulis · 38 tautan kepenulisan bersama · 7 lintas organisasi

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  • State University of Semarang
  • Diponegoro University
  • Walisongo State Islamic University
  • Sekolah Tinggi Ilmu Ekonomi Semarang
  • State University of Makassar
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Rekan penulisOrganisasiArtikel bersama
Moh KhoiruddinState University of Semarang1
Ketut SudarmaState University of Semarang1
Ascariena RafindaState University of Semarang1
Anindya ArdiansariState University of Semarang1
Fafurida FafuridaState University of Semarang1
Edi Suranta TariganDiponegoro University1
Wisnu MawardiDiponegoro University1
Elsa Nur Rizky FayzatyState University of Semarang1
Kris Brantas AbiprayuState University of Semarang1
Erisa Aprilia WicaksariState University of Semarang1
Nabila Rifa HanifahState University of Semarang1
Santi MaharaniState University of Semarang1
Siti BarokahAfiliasi tidak diketahui1
Riski AmaliyahAfiliasi tidak diketahui1
Dina Christina RaharjoState University of Semarang1
Iwan FadilahState University of Semarang1
Chakimatuzzahroh ChakimatuzzahrohState University of Semarang1
Nur ChalimahState University of Semarang1
Kharisma ZuliardiState University of Semarang1
Sari Fitri FatimahState University of Semarang1
Nugroho Tulus RahayuSekolah Tinggi Ilmu Ekonomi Semarang1
Bibit RobiatunState University of Semarang1
Elisa FajarwatiState University of Semarang1
Andi Sri WahyuniState University of Makassar1
Ratno AgriyantoWalisongo State Islamic University1
Farah AmaliaWalisongo State Islamic University1

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Sumber metadata: OAI-PMH (metadata jurnal) https://journal.unnes.ac.id/journals/jdm/oai, pertama di-harvest 6 Nov 2026, terakhir terlihat 8 Nov 2026.
Metadata asli (oai_dc)
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	<dc:title xml:lang="en">Digital Transformation and Firm Value: A Resource-Based View on Indonesian Non-Cyclical Consumer and Healthcare Listed Companies</dc:title>
	<dc:creator xml:lang="en">Witiastuti, Rini Setyo</dc:creator>
	<dc:creator xml:lang="en">Muharam, Harjum</dc:creator>
	<dc:subject xml:lang="en">Digital Transformation</dc:subject>
	<dc:subject xml:lang="en">Firm Value</dc:subject>
	<dc:subject xml:lang="en">Healthcare Sector</dc:subject>
	<dc:subject xml:lang="en">Non-Cyclical Consumer  Sector</dc:subject>
	<dc:subject xml:lang="en">Resource-Based View</dc:subject>
	<dc:description xml:lang="en">Technological change and economic uncertainty are challenging the ability of listed companies in the non-cyclical consumer and healthcare sectors to preserve their market value. According to the Resource-Based View (RBV) theory, digital transformation involves the automation of administrative tasks whilst also representing a strategic and dynamic capability capable of creating sustainable competitive advantage and supporting the achievement of better valuations from investors. This research analyzes the impact of digital transformation on firm value, particularly for non-cyclical consumer and healthcare listed companies on the Indonesia Stock Exchange (IDX) for the period 2015-2024. An analysis of 10 selected listed companies, as determined by purposive sampling, was conducted using multiple linear regression. The findings of this study indicate that internal digital investment and commitment play a significant role in enhancing a firm’s intangible assets, as reflected in a significant increase in the Tobin’s Q value. Theoretically, this study broadens the use of RBV theory in the context of digitalization within non-cyclical consumer and healthcare sectors of an emerging market. In practice, this study offers strategic direction to senior management on how to allocate funds for technology purchases in a way that builds a competitive edge which is hard for other companies to imitate.</dc:description>
	<dc:publisher xml:lang="en">Universitas Negeri Semarang</dc:publisher>
	<dc:date>2026-09-01</dc:date>
	<dc:type>info:eu-repo/semantics/article</dc:type>
	<dc:type>info:eu-repo/semantics/publishedVersion</dc:type>
	<dc:type xml:lang="en">Peer-reviewed Article</dc:type>
	<dc:format>application/pdf</dc:format>
	<dc:identifier>https://journal.unnes.ac.id/journals/jdm/article/view/63573</dc:identifier>
	<dc:identifier>10.15294/jdm.v17i2.63573</dc:identifier>
	<dc:source xml:lang="en">Jurnal Dinamika Manajemen; Vol. 17 No. 2 (2026): September; 363-377</dc:source>
	<dc:source>2337-5434</dc:source>
	<dc:source>10.15294/jdm.v17i2</dc:source>
	<dc:language>eng</dc:language>
	<dc:relation>https://journal.unnes.ac.id/journals/jdm/article/view/63573/11703</dc:relation>
	<dc:rights xml:lang="en">Copyright (c) 2026 Jurnal Dinamika Manajemen</dc:rights>
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