Zeplin Jiwa Husada Tarigan

Global competition has forced companies, including small and medium enterprises (SMEs), to improve their competitive advantage. Supply chain management practices are the ways to improve the competitive advantage, particularly in the global competition context. However, there is still doubt SMEs can compete globally, considering they face limited resources, skilled workforce, and business networks. Therefore, this study aims to examine the influence of supply chain management practices, covering cross-functional integration, partnership, responsiveness, and resilience. Moreover, this study has examined which practices dominate in improving competitive advantage. The quantitative study involved 445 SMEs located in East Java, Indonesia. The respondents are supervisors or higher levels and work in departments related to supply chain management, as they can provide the relevant information and possess complete knowledge of management practices. The data were collected via a questionnaire designed with a five-point Likert scale. The responses were analyzed using SmartPLS software 4.0. The results show that cross-function integration improves supply chain partnership, responsiveness, and resilience (β = 0.705, 0.382, 0.324; t-value = 25.177, 6.697, 5.783). Supply chain partnerships affect supply chain responsiveness, resilience, and competitive advantage (β = 0.327, 0.257, 0.249; t-value = 5.933, 4.536, 5.651). Moreover, supply chain responsiveness improves supply chain resilience and competitive advantage (β = 0.285, 0.106; t-value = 5.690, 2.099). Supply chain resilience improves competitive advantage (β = 0.435 and t-value = 8.987). SMEs can enhance their competitive advantage by integrating their internal cross-functional integration and adopting supply chain partnership, responsiveness, and resilience.

Acknowledgments
The authors would like to thank DIKTI 2023 and Research and Community Outreach Petra Christian University for providing the grant to fund this research.

Type of the article: Research Article

This study examines how accounting-based financial performance and corporate governance affect firm value among Indonesian listed technology firms. The study analyzes panel data from 28 technology companies listed on the Indonesia Stock Exchange during 2021–2024. The data were obtained from annual reports, audited financial statements, corporate governance disclosures, and capital market information. Panel regression analysis was applied, and the Fixed Effects Model was selected based on model specification tests. Corporate governance and accounting-based financial performance are measured using standardized equal-weighted composite indices constructed from their respective indicators. The corporate governance index was constructed from board independence, board size, audit committee size, and ownership concentration, while the financial performance index was constructed from ROA, ROE, TATO, current ratio, and reverse-coded DER. The results show that the corporate governance composite index has a positive and significant effect on firm value, with a coefficient of 0.263 and a t-statistic of 2.791. The accounting-based financial performance composite index also has a positive and significant effect on firm value, with a coefficient of 0.415 and a t-statistic of 4.526. Furthermore, the interaction between the corporate governance index and the financial performance index is positive and significant. These findings indicate that corporate governance strengthens the value relevance of financial performance. The model has strong explanatory power, with an adjusted R² of 0.672. The study concludes that profitability and leverage remain relevant accounting-based for firm valuation, while corporate governance enhances transparency, financial control, and investor confidence in Indonesian technology firms.