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Full-Text Articles in E-Commerce

Hedonic And Utilitarian Products For The 21St Century: Classification Of Modern Product Categories, Jin-A Choi, Sufyan M. Baksh, Hyuk Jun Cheong Oct 2025

Hedonic And Utilitarian Products For The 21St Century: Classification Of Modern Product Categories, Jin-A Choi, Sufyan M. Baksh, Hyuk Jun Cheong

Asia Marketing Journal

Consumer purchasing behavior varies according to the type of product being considered. Notably, these behavioral differences become more salient depending on whether a product fulfills a utilitarian function or offers hedonic gratification. The present study aims to develop a novel product classification model that categorizes contemporary goods and services based on the extent to which they possess hedonic or utilitarian value. Methodologically, the study employed a two-stage approach. In the first stage, to identify appropriate products for inclusion in the classification model, the researchers conducted focus group interviews, a comprehensive literature review, and an analysis of major retailers’ websites. In …


Customer Satisfaction And Shareholder Value In The Hospitality And Tourism Industry: The Moderating Role Of A Ceo’S Marketing Experience, Minchung Kim, Yonghee Kim Oct 2025

Customer Satisfaction And Shareholder Value In The Hospitality And Tourism Industry: The Moderating Role Of A Ceo’S Marketing Experience, Minchung Kim, Yonghee Kim

Asia Marketing Journal

Despite the long history of research examining the effects of firm-level customer satisfaction on shareholder value, the existing findings are mixed for the hospitality and tourism industry where customer satisfaction is particularly important for the success of firms. The inconsistent results require further examination of the shareholder value relevance of customer satisfaction. This study offers a comprehensive understanding of the topic by examining the effects of customer satisfaction not only on equity return but also equity risk, and identifying a key contingency. Using annual American Customer Satisfaction Index (ACSI) for publicly traded “restaurant”, “hotel”, and “airline” firms, this study finds …


Factors Influencing Consumers’ Online Purchase Decisions: Evidence From Amazon.Com, Weiwei Li Oct 2025

Factors Influencing Consumers’ Online Purchase Decisions: Evidence From Amazon.Com, Weiwei Li

Dissertations and Theses Collection (Open Access)

With the rapid expansion of cross-border e-commerce, platform sellers increasingly adopt diverse price formatsto influence consumer decision-making. In this context, consumers’ perceptions of and responses to price information have become a pivotal issue in understanding online purchase behavior. Using Amazon as the research setting, this study employs a dynamic panel model with monthly product-level data spanning January 2024 to June 2025 to investigate how different price formats—such as Prime-exclusive pricing and coupon mechanisms—affect consumers’ online purchase intentions when the out-ofpocket price is held constant. Furthermore, the moderating effect of promotional events is systematically examined.

Departing from prior research that largely …


Trust And Ethics In Ai-Driven E-Commerce: Persuasion Vs. Privacy, Akriti Nepal Oct 2025

Trust And Ethics In Ai-Driven E-Commerce: Persuasion Vs. Privacy, Akriti Nepal

Student Publications

This study examines how AI-driven features in e-commerce influence user satisfaction and the role of trust in these interactions. Using a survey-based dataset of 100 consumers, we investigated whether trust moderates or mediates the impact of AI persuasiveness and perceptions of bias, intrusiveness, and preference understanding on satisfaction. Results indicate that AI’s perceived ability to understand user preferences strongly predicts satisfaction, while trust partially mediates the relationship between helpful AI features and urgency messages and user satisfaction. Conversely, trust did not significantly moderate these relationships, and concerns about bias and intrusiveness had minimal impact. Findings suggest that AI-driven satisfaction is …


An Analysis Of Consumer Behavior In The Brazilian E-Commerce Market: An Investigation Of Customer Loyalty, Seasonality, And Regional Preferences, Hai Doan Oct 2025

An Analysis Of Consumer Behavior In The Brazilian E-Commerce Market: An Investigation Of Customer Loyalty, Seasonality, And Regional Preferences, Hai Doan

Student Publications

This paper investigates key drivers of consumer behavior within Brazil's emerging e-commerce market by analyzing the Olist Public Dataset. As technology increasingly allows for data-driven marketing strategies, understanding the nuanced behaviors of diverse consumer bases, especially in an emerging market like Brazil, is critical for firm success. This study tests three hypotheses regarding the relationship between positive customer reviews and e-loyalty, the fluctuation of seasonal sales during holiday periods, and the influence of geographic urbanization on product preferences. Utilizing regression analyses on 100,000 orders from 2016 to 2018, the results showed no significant relationship between positive review scores and repeat …


Rutger Bregman’S Vision: Moral Ambition Without Imagination, Vladimir Snurenco Sep 2025

Rutger Bregman’S Vision: Moral Ambition Without Imagination, Vladimir Snurenco

University Faculty Publications and Creative Works

This review critiques Rutger Bregman’s top-down blueprint—higher taxes, new laws, and big-ticket nonprofits—as a centralized moralism that sidelines the institutions that actually nurture prosperity and dignity: family, church, enterprise, and local associations. I contrast Bregman’s Robin-Hood rhetoric (and his School for Moral Ambition) with a subsidiarity-driven vision rooted in Tocqueville, Kuyper, and Nisbet, and with Michael Pakaluk’s call for vocation within business. Drawing on research by Owen Zidar (the “stealthy wealthy”) and The Millionaire Next Door, I argue Bregman caricatures the rich and misunderstands how wealth is created.

I also question his nonprofit model: celebrating outputs (money raised, nets distributed) …


Impact Of Aigc Application On E-Commerce: A Study In The Scenario Of Product Display And Recommendation, Ya Shen Sep 2025

Impact Of Aigc Application On E-Commerce: A Study In The Scenario Of Product Display And Recommendation, Ya Shen

Dissertations and Theses Collection (Open Access)

Artificial Intelligence Generated Content is widely expected to enhance efficiency and lower operation cost for e-commerce. This study aims to investigate on how AIGC technology would impact on the online shopping behavior and conversion rate, specifically in the scenario of product display and recommendations.

Experiment 1 is to evaluate which scenario would have better efficiency on e-commerce platforms when using AIGC. Using an A/B testing methodology, the effects of AIGC application were measured among key factors of six product display and recommendation scenario on Vipshop.com. Results show that AIGC application on model image has the greatest impact, increasing CTR by …


Assessing The Influence Of The Electronic Levy On Consumer Purchasing Behaviour In The Ghanaian E-Commerce Sector, Jefferson Sigfred Seyeram Bansa, David Asumadu - Boateng, Harry Adjetey Ashong, Rubby Aku Ameh Aug 2025

Assessing The Influence Of The Electronic Levy On Consumer Purchasing Behaviour In The Ghanaian E-Commerce Sector, Jefferson Sigfred Seyeram Bansa, David Asumadu - Boateng, Harry Adjetey Ashong, Rubby Aku Ameh

African Conference on Information Systems and Technology

This study examines the influence of Ghana’s Electronic Transfer Levy (E-Levy) on consumer purchasing behaviour within the country’s emerging e-commerce ecosystem. Using a qualitative phenomenological approach, data were collected through semi-structured interviews with 15 consumers in Accra and Kumasi to explore how the levy affected their trust in digital platforms, transaction patterns, and engagement with e-commerce. Thematic analysis revealed four major findings: reduced frequency of online purchases, strategic avoidance of mobile money and other taxed platforms, restructuring of transactions to minimize costs, and a growing mistrust of digital systems fueled by misinformation and lack of policy clarity. While some consumers …


Textbooks: Required, Alternatives, Hybrid, Or Disappearance, William Saunders, Carlton Perkins, Michara Delaney-Fields Aug 2025

Textbooks: Required, Alternatives, Hybrid, Or Disappearance, William Saunders, Carlton Perkins, Michara Delaney-Fields

Southwestern Business Administration Journal

The conversations around transformational changes in higher education are centered around a myriad of issues. Technology, the lasting effects of the pandemic, student satisfaction and readiness for future employment requirements are a few of the leading concerns. However, one subject that is not receiving enough attention is the growing resistance and hesitation among college students to purchase textbooks. Although the movement has not reached the status of a full-blown protest or outright refusal, there is enough attention being brought to the subject that educators may want to be prepared for an eventual change. The need and requirement for textbooks in …


Using Artificial Intelligence To Improve Customer Engagement: User Experience With Chatbot Technology, Aicha Zemmouri, Salma Choufari Jul 2025

Using Artificial Intelligence To Improve Customer Engagement: User Experience With Chatbot Technology, Aicha Zemmouri, Salma Choufari

Journal of Marketing and Consumer Behaviour in Emerging Markets

This study examines the impact of artificial intelligence (AI) on improving customer loyalty through the use of chatbot technology, with a specific focus on the user experience of Moroccan consumers. The increasing integration of AI into customer service, especially through chatbots, represents a significant shift in how companies interact with their customers. Given Morocco’s growing digitalization and the strategic importance of customer loyalty, it is critical to understand how consumers perceive and interact with these technologies. To achieve this, the study used a qualitative research method of semi-structured interviews to investigate consumers’ perceptions, interaction behaviours, and challenges with chatbot usage. …


2025, 1(20) Jul 2025

2025, 1(20)

Journal of Marketing and Consumer Behaviour in Emerging Markets

Full Issue 2025, 1(20)


Rutger Bregman's Centralized Utopia, Vladimir Snurenco Jul 2025

Rutger Bregman's Centralized Utopia, Vladimir Snurenco

University Faculty Publications and Creative Works

A short, provocative review of Rutger Bregman’s Moral Ambition. I sketch his technocratic utopia—“Rutger-land”—a colder, centralized world where fossil fuels are banned, richer people are taxed into moral compliance, UBI prevails, and the landscape is “tobacco-free, malaria-free, poverty-free, and meat-free… just fields of kale and solar panels.” I argue Bregman’s approach is resolutely top-down—activism, lobbying, and policy over enterprise, churches, and grassroots civic life—misunderstanding how wealth is created and how real change happens. Against this centralized moralism, I make the case for decentralization, subsidiarity, and the quiet, dignified work of civil society.


Digital Technology Usage In Tajikistan, Siyovush Bobokhonov Dr., Pedro Quelhas Brito Dr., Umesh Ramchandra Raut Dr., Prafulla Arjun Pawar Dr. Jul 2025

Digital Technology Usage In Tajikistan, Siyovush Bobokhonov Dr., Pedro Quelhas Brito Dr., Umesh Ramchandra Raut Dr., Prafulla Arjun Pawar Dr.

The Qualitative Report

The rapid development of digital technologies is significantly changing how people live, and these changes have a particular impact on the younger generation in Tajikistan. Our study therefore aims to analyze the factors influencing young Tajiks' opinions as users of digital technology and to examine digital technology usage in Tajikistan. We conducted a qualitative analysis of the opinions of young Tajik individuals aged 18 to 30 and found that they generally consider digital technology to be an integral part of their daily lives. Data collection was carried out through focus group discussions (FGDs) and the data analysis was performed using …


Brand Awareness The Case Study Was Applied To Nesma & Partners Contracting Co. Ltd In Saudi Arabia, Soumaya Kaakour, Pierre Mouawad Jul 2025

Brand Awareness The Case Study Was Applied To Nesma & Partners Contracting Co. Ltd In Saudi Arabia, Soumaya Kaakour, Pierre Mouawad

Al Jinan الجنان

This paper examines the factors affecting brand awareness in Saudi Arabia Nesma & Partners Contracting Co. Ltd. An electronic survey was distributed to 203 employees. The results indicated a positive correlation between credibility and brand awareness, while a negative correlation between the following variables (social media, influencer, E-wom) and brand awareness. These results imply that companies like Nesma & partners should not rely on social media, influencers, and E-wom to reach brand awareness. Future research is needed to investigate more factors affecting brand awareness in construction companies


The Persistence Of Benefit Cliffs: A Behavioral Look At A Policy Problem, Vladimir Snurenco Jul 2025

The Persistence Of Benefit Cliffs: A Behavioral Look At A Policy Problem, Vladimir Snurenco

University Faculty Publications and Creative Works

Benefit cliffs—where earning slightly more leads to losing more in government support—are often treated as technical glitches fixable through better formulas. But this article argues that the real problem isn't just economic—it's psychological. Drawing on behavioral economics and lived experience, the piece explores how fear, loss aversion, and system complexity keep low-income Americans trapped—even when policy fixes say they should be better off. Until policymakers account for how people actually feel and behave, benefit cliffs will persist not just on paper, but in real life


Socio-Economic Dynamics Of Engagement And Incentivization In Emerging Digital Platforms, Danyang Song Jul 2025

Socio-Economic Dynamics Of Engagement And Incentivization In Emerging Digital Platforms, Danyang Song

Dissertations and Theses Collection (Open Access)

The rapid advancement of digital technology—particularly mobile and blockchain technologies—has fueled the unprecedented growth of online platforms. Among these, live commerce and blockchain-based social media have emerged as two distinct business models that profoundly shape both commercial and social aspects of people’s lives. E-commerce livestreaming integrates live video streaming with e-commerce, offering consumers real-time product information and interactive shopping experiences. Different from traditional social media platforms that rely on either voluntary contributions or ad revenue sharing to incentivize user participation, blockchain-based social media platforms often use cryptocurrency or tokens to reward users for creating and curating content. This dissertation investigates …


Sme Marketing Performance: A Mixed-Method Study On Resilient Compositional Capability, Sugianto Sugianto, Ramadania Ramadania, Wenny Pebrianti Jun 2025

Sme Marketing Performance: A Mixed-Method Study On Resilient Compositional Capability, Sugianto Sugianto, Ramadania Ramadania, Wenny Pebrianti

Asia Marketing Journal

This study examines how Small and Medium Enterprises (SMEs) in developing markets achieve marketing performance through resilient compositional capability despite resource constraints. Using data from 435 SMEs in West Borneo, Indonesia, and employing a mixed-method approach, we find that marketing innovation, government support, and organizational ambidexterity positively influence resilient compositional capability. Our results show that while government support and organizational ambidexterity directly impact marketing performance, marketing innovation's effect is mediated by resilient compositional capability. Furthermore, we find that resilient compositional capability significantly mediates the relationship between all independent variables and marketing performance, validating the Composition-Based View's (CBV) premise that firms …


K Means Clustering Analysis For Chinese Tourists' Segmentation On Duty-Free Personal Luxury Goods Purchasing Intentions In The Asia-Pacific Region, Feng Hui, Piang-Or Loahavilai, Nopasit Chakpitak, Tirapot Chandarasupsang Jun 2025

K Means Clustering Analysis For Chinese Tourists' Segmentation On Duty-Free Personal Luxury Goods Purchasing Intentions In The Asia-Pacific Region, Feng Hui, Piang-Or Loahavilai, Nopasit Chakpitak, Tirapot Chandarasupsang

Asia Marketing Journal

This study explores Chinese tourists' purchase intentions for personal luxury goods in Asia-Pacific duty-free shops using an integrated Affect Behavior Cognition (ABC) model of attitude, incorporating subjective norms. Factor analysis and K-means clustering were employed to segment the market based on demographics and purchasing behavior. Three distinct customer segments emerged: the ``All-Participation Group'' highly involved in all purchasing decision factors, focusing on product performance, price, and shopping convenience; the ``Product-Oriented Group'' prioritizing product performance and cost-effectiveness, with a preference for convenient search channels; and the ``Perceived Control & Promotion Group'' influenced by promotions, cautious about product damage, and favoring easy …


How Implicit Theories Can Enhance Or Reduce Charitable Behavior, Yoni Yoon, Jongwon Park Jun 2025

How Implicit Theories Can Enhance Or Reduce Charitable Behavior, Yoni Yoon, Jongwon Park

Asia Marketing Journal

Whether real or merely conceived, the distance to beneficiaries impairs individuals' generosity. This makes it important, both theoretically and practically, to identify factors that can promote prosocial behavior toward distant others. The present research identifies implicit self-theories (i.e., individuals' lay beliefs about the malleability or fixedness of human attributes–-incremental vs. entity theory) as one such factor. Four experiments demonstrate that incremental (vs. entity) theory enhances charitable behavior to distant others by decreasing perceived social distance toward them. We also show that this effect attenuates when the beneficiary is socially close, as consistent with the mediation mechanism. Furthermore, by combining the …


A Study On Consumer-Avatar Interactions In The Metaverse: Implications For Marketing Strategies, Sunmin Kim, Ji Hyeon Heo, Ji Hee Song Jun 2025

A Study On Consumer-Avatar Interactions In The Metaverse: Implications For Marketing Strategies, Sunmin Kim, Ji Hyeon Heo, Ji Hee Song

Asia Marketing Journal

The metaverse, expected to grow into a trillion-dollar market by 2030, is driving global investments across technology, economy, and even education. This research examines the interactions between consumers and avatars, a core element of the metaverse, to understand their influence on consumer identity, behavior, and attitudes. Based on the self-extension and self-expansion theories, the study uses immersive netnography to investigate consumer-avatar dynamics on the ZEPETO platform. Findings indicate that avatars act as extensions of the self, where consumers express control, create, and seek knowledge. Additionally, interactions between avatars contribute to self-expansion, as consumers incorporate the resources, perspectives, and characteristics of …


Market Power Versus Regulation Forces: The Impact Of Antitrust Regulation On Software Firms, Gwona Ko, Boreum Choi, Wooje Cho, Young Bong Chang Jun 2025

Market Power Versus Regulation Forces: The Impact Of Antitrust Regulation On Software Firms, Gwona Ko, Boreum Choi, Wooje Cho, Young Bong Chang

Asia Marketing Journal

The omnipresence of software firms is triggering substantial antitrust concerns, calling into question the adequacy of existing regulatory frameworks. This study explores this pivotal concern in the context of the software industry, which is characterized by profound network externalities among customers and a rapid pace of innovation. Our study used the event study methodology on data from 252 antitrust cases involving the U.S. Federal Trade Commission and U.S. Department of Justice from 2000 to 2022, which revealed important insights into the differentiated effects of U.S. antitrust announcements on the market value of software firms. Although antitrust announcements generally have a …


Does Your Company Care About The Fears Of Pandemic For Salespeople? Insights From Pandemic Demands And Resources, Ihsan Ullah Jan, Seonggoo Ji, Changju Kim Jun 2025

Does Your Company Care About The Fears Of Pandemic For Salespeople? Insights From Pandemic Demands And Resources, Ihsan Ullah Jan, Seonggoo Ji, Changju Kim

Asia Marketing Journal

The pandemics (e.g., COVID-19) disrupt the roles of all professionals, particularly those of salespeople. This study seeks to empirically examine how fears amidst the pandemic, as pandemic demands, influence salespeople's attitudinal and behavioral outcomes and how organizational and personal resources as pandemic resources mitigate the negative outcomes for salespeople. Building on the job demands-resources (JD-R) model and employing the partial least squares-based structural equation modeling, this study tested the proposed hypotheses using responses from 237 salespeople in South Korea. The results mainly supported hypotheses. As a major theoretical contribution, this study delineates Pandemic fears in terms of salespeople's fear of …


Purchasing Decisions In Terms Of Digital-Based Lifestyle And Brand Image, R. Nia Marotina Jun 2025

Purchasing Decisions In Terms Of Digital-Based Lifestyle And Brand Image, R. Nia Marotina

Jurnal Vokasi Indonesia

As the digital trend develops, people's lifestyles slowly change, tending to like something that is fast, easy, and practical that can be done via a smartphone. The purpose of this study was to determine whether a digital-based lifestyle affects purchasing decisions in the shopee marketplace, and to determine whether brand image affects purchasing decisions in the shopee marketplace in an Islamic economic perspective. This research is quantitative research. The research was conducted in Pekalongan Regency, the population in this study was Gen Z in Pekalongan Regency, the sample used in this study was 97 people. The technique used to analyze …


Analysis Of Factors Affecting The Intention To Use Shopee Barokah (Case Study On Generation Z In Semarang City), Laila Fajri Khoirun Najwa, An'im Kafabih Jun 2025

Analysis Of Factors Affecting The Intention To Use Shopee Barokah (Case Study On Generation Z In Semarang City), Laila Fajri Khoirun Najwa, An'im Kafabih

ASEAN Marketing Journal

This study aims to determine the effect of attitude, subjective norm, perceived behavioral control, promotion and word of mouth on the intention to use Shopee Barokah. The population of this study is Generation Z Semarang City who knows Shopee Barokah but has never used it. Non-probability sampling technique, namely purposive sampling using primary data. Sampling was done by distributing questionnaires and obtaining 141 respondents. This research method uses binary logistic regression analysis with SPSS 26. The results showed that the variables of attitude, subjective norm, perceived behavioral control, promotion partially influenced the intention to use Shopee Barokah. Meanwhile, Word Of …


Modelling Complex Psychological And Behavioral Dynamics: Analyzing Perception And Psychological Ownership In Gen Z'S Re-Subscription Intentions Towards Ott Platforms, David Joseph, Blesson James, Tanya Sharma Jun 2025

Modelling Complex Psychological And Behavioral Dynamics: Analyzing Perception And Psychological Ownership In Gen Z'S Re-Subscription Intentions Towards Ott Platforms, David Joseph, Blesson James, Tanya Sharma

Northeast Journal of Complex Systems (NEJCS)

This study explores the complex dynamics between perception, psychological ownership, and re-subscription intentions among Gen Z users of OTT platforms, specifically examining how perceived benefits and perceived drawbacks shape user behavior and investigating the moderating role of psychological ownership in this context. The research focuses on a sample of Gen Z users from India who actively engage with OTT platforms, and data were collected through a structured questionnaire comprising three sections; a structural equation modeling (SEM) technique was applied to analyze the data obtained from 304 valid responses. The analysis reveals that perceived benefits significantly enhance Gen Z's re-subscription intentions, …


Resilience Of Women Entrepreneurs In Mindanao And The Impact Of Access To Finance And Digital Technologies, World Bank, Ateneo Center For Social Entrepreneurship, Social Enterprise Development Partnerships Inc. Jun 2025

Resilience Of Women Entrepreneurs In Mindanao And The Impact Of Access To Finance And Digital Technologies, World Bank, Ateneo Center For Social Entrepreneurship, Social Enterprise Development Partnerships Inc.

Ateneo Center for Social Entrepreneurship (ACSEnt)

Executive Summary

This report examines the resilience of women nano- entrepreneurs in Mindanao and explores the impact of access to finance and digital technologies on their business sustainability. Utilizing data from the Social Enterprise Development Partnerships Inc. (SEDPI) and focus group discussions (FGDs), the study identifies key challenges and coping mechanisms employed by women-led nano- enterprises. The findings provide actionable insights for policymakers and microfinance institutions (MFIs) to design targeted interventions that strengthen the sustainability of these enterprises, particularly in the face of economic and environmental shocks. Women-led nano-enterprises in Mindanao typically operate informally, with assets ranging from PhP3,000 to …


Alibaba: Building Advanced Intellectual Property Governance For E-Commerce Marketplaces, Liang Chen, Sin Mei Cheah, Can Huang, Guoqiao Liu Jun 2025

Alibaba: Building Advanced Intellectual Property Governance For E-Commerce Marketplaces, Liang Chen, Sin Mei Cheah, Can Huang, Guoqiao Liu

Asian Management Insights

How the global e-commerce powerhouse harnessed artificial intelligence (AI) to balance innovation and intellectual property (IP) rights protection.


Regulating The Metaverse: Reducing Diffusion Of Trader Responsibility, Hadar Y. Jabotinsky, Michal Lavi Jun 2025

Regulating The Metaverse: Reducing Diffusion Of Trader Responsibility, Hadar Y. Jabotinsky, Michal Lavi

University of Michigan Journal of Law Reform

With the emergence of the metaverse, some problems relating to trader responsibility, which had previously long been addressed, have now resurfaced and come back to life. One of these problems is the question of who should be held accountable for harm inflicted by defective or counterfeit products sold by third-party vendors in metaverse marketplaces. Under the common law, liability for defective or counterfeit products rests with the immediate seller of the product. But, unique aspects of the metaverse may make holding sellers liable unwise, difficult, or even impossible.

The law confronted a similar question after online platforms emerged. Currently, common …


Building Open Finance, Douglas W. Arner, Ross P. Buckley, Christine M. Wang, Dirk A. Zetzsche Jun 2025

Building Open Finance, Douglas W. Arner, Ross P. Buckley, Christine M. Wang, Dirk A. Zetzsche

Notre Dame Journal of International & Comparative Law

As one of the most digitalized sectors of the economy, finance is increasingly dependent on data. Over the past decade, the implementation of Open Banking and Open Finance in an increasing number of major jurisdictions around the world, including the European Union (EU), the United Kingdom (UK), Australia, Brazil, and the United Arab Emirates (UAE), seeks to break down data silos, empower consumers, and increase competition among financial service providers, aiming to maximize the value of financial data for innovation, growth, and competitiveness. In addition to mandatory requirements, other governance approaches to Open Finance, including collaborative arrangements and voluntary initiatives, …


A Composite Multiple-Based Stock Valuation Model, Mudita Lau, Maria Widyarini, Achmad Faisal May 2025

A Composite Multiple-Based Stock Valuation Model, Mudita Lau, Maria Widyarini, Achmad Faisal

BISNIS & BIROKRASI: Jurnal Ilmu Administrasi dan Organisasi

This study seeks to examine whether a composite valuation model (made of several multiples) can outperform a single-multiple valuation model in valuation accuracy. This study applied a trial-and-error iteration using scripts written in R studio to optimize the weight of each multiple in each composite, aiming to reach a minimum valuation error for each composite valuation model. Based on financial data of 2009-2019, a composite valuation model performs better than a single-multiple valuation model in assessing all peer groups, achieving up to 18% greater accuracy, which is a significant improvement. The result suggests that a composite valuation model generally offers …