Marketing Management and Corporate Comprehensive Profitability with Leverage Moderation : South East Asia Evidence
Abstract
This study aims to demonstrate the influence of marketing management on corporate comprehensive profitability and the moderating role of leverage in the relationship. Data were collected from 5,272 firm-years from 1,318 sample companies in Southeast Asia for the period 2021-2024. Moderated regression analysis was used to analyze the data. The results demonstrate that a more optimal marketing management role leads to greater corporate comprehensive profitability, and pressure from creditors, as indicated by a higher leverage ratio, strengthens the influence of marketing management on corporate comprehensive profitability. The novelty of this study lies in the use of various proxies to measure marketing management variables and the novelty of the model for testing the moderating role of leverage in marketing management's influence on corporate comprehensive profitability.
References
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Andriana, R., Kusuma, M., Kasim, C. M. M., & Barreto, C. A. (2025). The Effect of Marketing Activities on Profitability With Others Comprehensive Income As Moderation: Evidence from Southeast Asia. Ekuilibrium: Jurnal Ilmiah Bidang Ilmu Ekonomi, 20(1).
Anh, D. L. T., & Gan, C. (2020). Profitability and marketability efficiencies of Vietnam manufacturing firms: An application of a multi-stage process. International Journal of Social Economics, 47(1), 54–71. https://doi.org/10.1108/IJSE-05-2019-0321
Athori, A., & Kusuma, M. (2023). Effect of Others Comprehensive Income on Company Value by Mediation of Retained Earnings: Evidence From Indonesia. JCA (Jurnal Cendekia Akuntansi), 4(2), 141. https://doi.org/10.32503/akuntansi.v4i2.4580
Athori, A., Sari, H. P., Kusuma, M., & Suaidah, Y. M. (2025). Pengaruh Corporate Sustainable Performance Terhadap Comprehensive Financial Performance. Jurnal Proaksi, 12(1).
Brewis, C., Dibb, S., & Meadows, M. (2023). Leveraging big data for strategic marketing: A dynamic capabilities model for incumbent firms. Technological Forecasting and Social Change, 190(December 2021), 122402. https://doi.org/10.1016/j.techfore.2023.122402
Būmane, I. (2018). The methodology of the statement of comprehensive income and its impact on profitability: The case of Latvia. Entrepreneurship and Sustainability Issues, 6(1), 77–86. https://doi.org/10.9770/jesi.2018.6.1(6)
Cao, G., & Weerawardena, J. (2023). Strategic use of social media in marketing and financial performance: The B2B SME context. Industrial Marketing Management, 111, 41–54. https://doi.org/10.1016/j.indmarman.2023.03.007
Chen, E., & Gavious, I. (2016). Unrealized earnings, dividends and reporting aggressiveness: An examination of firms’ behavior in the era of fair value accounting. KAccounting and Finance, 56(1), 217–250. https://doi.org/10.1111/acfi.12187
Chen, K. (2020a). The effects of marketing on commercial banks’ operating businesses and profitability: evidence from US bank holding companies. International Journal of Bank Marketing, 38(5), 1059–1079. https://doi.org/10.1108/IJBM-08-2019-0301
Chen, K. (2020b). The Effects of Marketing on Commercial Banks’ Operating Businesses and Profitability: Evidence from US Bank Holding Companies. International Journal of Bank Marketing, 38(5), 1059–1079. https://doi.org/10.1108/IJBM-08-2019-0301
Chen, K. (2020c). The effects of marketing on commercial banks’ operating businesses and profitability: evidence from US bank holding companies. International Journal of Bank Marketing, 38(5), 1059–1079. https://doi.org/10.1108/IJBM-08-2019-0301
Edeling, A., & Fischer, M. (2016). Marketing’s Impact on Firm Value: Generalizations from a Meta-Analysis. Journal of Marketing Research, 53(4), 515–534. http://www.jstor.org/stable/44134929
Grandhi, B., Patwa, N., & Saleem, K. (2021). Data-Driven Marketing for Growth and Profitability. EuroMed Journal of Business, 16(4), 381–398. https://doi.org/10.1108/EMJB-09-2018-0054
Guenther, P., Guenther, M., Rahman, M., Koval, M., & Iurkov, V. (2025). Advertising in business markets – The obscured bottom-line effect and need for appropriate analytics. Industrial Marketing Management, 126, 185–196. https://doi.org/10.1016/j.indmarman.2025.02.003
Jensen, M., & Meckling, W. (1976). Theory of The Firm: Managerial Behavior, Agency Costs and Ownership Structure. Journal of Financial Economics, 3, 305–360. https://doi.org/10.1177/0018726718812602
Kumar, V., Pozza, I., Petersen, J., & Shah, D. (2019). Reversing the Logic: The Path to Profitability through Relationship Marketing. Journal of Interactive Marketing, 23(2), 147–156. https://doi.org/10.1016/j.intmar.2009.02.003
Kusuma, M. (2017). Konstribusi informasi akuntansi biaya dalam meningkatkan nilai perusahaan dan tanggung jawab kepada stakeholder pada perusahaan manufaktur semen di Indonesia. Ekuilibrium, 12(2), 102–118. http://journal.umpo.ac.id/index.php/ekuilibrium/article/view/673/555
Kusuma, M. (2020). Penghasilan komprehensif lain dan prediksi arus kas masa depan : Bukti dari Indonesia. Seminar Nasional SENIMA Ke 5 Universitas Negeri Surabaya, Senima 5, 815–832. http://bit.ly/ProsidingSenima5
Kusuma, M. (2021a). Measurement of Return on Asset (ROA) based on Comprehensive Income and its Ability to Predict Investment Returns: an Empirical Evidence on Go Public Companies in Indonesia before and during the Covid-19 Pandemic. Ekuilibrium : Jurnal Ilmiah Bidang Ilmu Ekonomi, 16(1), 94. https://doi.org/10.24269/ekuilibrium.v16i1.3238
Kusuma, M. (2021b). Modification of Profitability Measures with Comprehensive Income and Reclassification of Other Comprehensive Income as A Mediation of Effects Asset Utilization on Firm Value. Jurnal Keuangan Dan Perbankan, 25(4), 855–879. https://doi.org/10.26905/jkdp.v25i4.6132
Kusuma, M. (2023a). Can the Reclassification of Others Comprehensive Income Narrow Opportunities for Creative Accounting: Earnings Management and Income Smoothing? Jurnal Akuntansi Dan Keuangan, 25(1).
Kusuma, M. (2023b). Pengaruh Kinerja Operasi, Entitas Anak dan Asosiasi Terhadap Laba dan Ekuitas yang Diatribusi : Bukti dari Indonesia. JCA (Jurnal Cendekia Akuntansi), 4(2), 120. https://doi.org/10.32503/akuntansi.v4i2.4579
Kusuma, M. (2024). Dapatkah Laba Komprehensif Digunakan untuk Memprediksi Financial Distress? TEMA: Jurnal Tera Ilmu Akuntansi, 25(1).
Kusuma, M., & Agustin, B. H. (2023). Can Others Comprehensive Income Affect Dividend Payments In Indonesia? Share: Jurnal Ekonomi Dan Keuangan Islam, 12(1).
Kusuma, M., Assih, P., & Zuhroh, D. (2021). Pengukuran Kinerja Keuangan : Return on Equity (ROE) Dengan Atribusi Ekuitas. Jurnal Ilmiah Manajemen Dan Bisnis, 22(2), 223–244. https://doi.org/10.30596/jimb.v22i2.7935
Kusuma, M., & Athori, A. (2023). Can Income and Equity Attribution Minimize Agency Costs ? (Effect of Attribution Policy on Earnings Management and Firm Value). Proceeding Medan International Economic and Business (MICEB) 2023, 1(1).
Kusuma, M., Chandrarin, G., Cahyaningsih, D. S., & Lisetyati, E. (2022). Reclassification of Others Comprehensive Income, Earnings Management, and Earnings Quality : Evidence From Indonesia. Asia-Pacific Management Accounting Journal, 17(3), 205–237. https://apmaj.uitm.edu.my/index.php/current/20-cv17n3/165-av17n3-8
Kusuma, M., & Hilda Agustin, B. (2024). Relevansi Nilai Kepentingan Non Pengendali dalam Laporan Keuangan Konsolidasi: Bagaimana Pasar Bereaksi dan Kemampuannya dalam Memprediksi Laba dan Dividen? Jurnal Akuntansi Dan Governance, 4(2), 104. https://doi.org/10.24853/jago.4.2.104-124
Kusuma, M., & Kusumaningarti, M. (2023). Earnings Response Coefficient ( ERC ) Berbasis Laba Komprehensif dan Laba Diatribusi : Modifikasi Teori Kandungan Laba ( Ball & Brown , 1968 ). Jurnal Ilmiah Akuntansi Manajemen, 6(2), 141–162. https://doi.org/10.35326/jiam.v6i2.4346
Kusuma, M., & Luayyi, S. (2024). Do others comprehensive income, profit, and equity attributable impact external audit fee? Journal of Accounting and Investment, 25(1), 112–136. https://doi.org/10.18196/jai.v25i1.20470
Kusuma, M., Marjukah, A., & Kasim, C. M. M. (2025). The Value Relevance of Unrealised Earnings. Jurnal Akuntansi Kontemporer (JAKO), 17(1), 12–25. https://doi.org/10.33508/jako.v17i1.5886
Kusuma, M., & Rahayu, P. (2022). Can Others Comprehensive Income Be Used For Tax Avoidance? Jurnal Akuntansi Dan Keuangan (JAK), 24(2), 68–79. https://jurnalakuntansi.petra.ac.id/
Kusuma, M., & Saputra, B. M. (2022). Pengaruh Fundamental Makro Ekonomi Terhadap Penghasilan Komprehensif Lain dan Persistensi Laba Komprehensif. Jurnal Kajian Akuntansi, 6(1), 145–176.
Kusuma, M., Zuhroh, D., Assih, P., & Chandrarin, G. (2021). The Effect of Net Income and Other Comprehensive Income on Future’s Comprehensive Income With Attribution of Comprehensive Income as Moderating Variable. International Journal of Financial Research, 12(3), 205–219.
Leelavathy, V., & Kamali, V. (2024). Sustainability Marketing: A Study on Balancing Profitability with Social and Environmental Responsibilities. International Journal of Research and Analysis in Commerce and Management, 13(3), 62–73. https://doi.org/10.1177/ijracm.2024.06.15
Liang, X., & Gao, Y. (2020). Marketing performance measurement systems and firm performance: Are marketing capabilities the missing links? European Journal of Marketing, 54(4), 885–907. https://doi.org/10.1108/EJM-05-2018-0302
Marchini, P. L., & D’Este, C. (2015). Comprehensive Income and Financial Performance Ratios: Which Potential Effects on RoE and on Firm’s Performance Evaluation? Procedia Economics and Finance, 32(January 2009), 1724–1739. https://doi.org/10.1016/s2212-5671(15)01478-1
Modigliani, F., & Miller, M. H. (1963). Corporate Income Tax and the Cost of Capital : A Correction. The American Economics Review, 53(3), 433–443. www.jstor.org/stable/1809167
Molla, M. I., & Rahaman, M. K. Bin. (2022). Effect of advertising spending on operating and market performance of banks: empirical evidence from Bangladesh. Asian Journal of Accounting Research, 7(1), 97–110. https://doi.org/10.1108/AJAR-06-2021-0084
Morgan, N., Slotegraaf, R., & Vorhies, D. (2019). Linking Marketing Capabilities With Profit Growth. International Journal of Research in Marketing, 26(4), 284–293. https://doi.org/10.1016/j.ijresmar.2009.06.005
Mubeen, R., Han, D., Abbas, J., & Hussain, I. (2020). The effects of market competition, capital structure, and CEO duality on firm performance: A mediation analysis by incorporating the GMM model technique. Sustainability (Switzerland), 12(8). https://doi.org/10.3390/SU12083480
Murdiyanto, E., & Kusuma, M. (2022). Moderasi Leverage dalam Pengaruh Ukuran Bank dan Aset Keuangan Terhadap Kinerja Keuangan Komprehensif BPR Konvensional dan BPR Syariah Se-Kediri Raya. Jurnal Ekonika : Jurnal Ekonomi Universitas Kadiri, 7(2). http://ojs.unik-kediri.ac.id/index.php/ekonika/index
Olim, A., Balbaa, M. E., Batirova, N., Gulnora, G., & Zokir, S. (2025). Examining the integration of marketing campaigns and profitability in enterprises: An econometric analysis in business evaluation. International Journal of Innovative Research and Scientific Studies, 8(2), 3285–3292. https://doi.org/10.53894/ijirss.v8i2.5998
Ouyang, M., Zhou, D., & Zhou, N. (2002). Estimating marketing persistence on sales of consumer durables in China. Journal of Business Research, 55, 337–342.
Rahman, M., Rodríguez-Serrano, M. Á., & Lambkin, M. (2020). Advertising efficiency and profitability: Evidence from the pharmaceutical industry. Industrial Marketing Management, 89, 619–629. https://doi.org/10.1016/j.indmarman.2019.02.001
Rahman, M., Serrano, M., & L, M. (2020). Advertising efficiency and profitability: Evidence from the pharmaceutical industry. Industrial Marketing Management, 89, 619–629. https://doi.org/10.1016/j.indmarman.2019.02.001
Ratih, N. R., Kusuma, M., Suaidah, Y. M., & Ahamad, A. H. Bin. (2025). Modification of Financial Ratio Analysis Based on Fair Value : Is It More Predictive? Jurnal Akuntansi Dan Perpajakan, 11(1), Maret.
Sheng, D., & Montgomery, H. A. (2023). Bond Issuance as Reputational Signal: Debunking the Negative Perception of Additional Liability. International Journal of Financial Studies, 11(4). https://doi.org/10.3390/ijfs11040126
Valentyn, K., & Pavlov, R. (2017). Relation between marketing expenses and bank’s financial position: Ukrainian reality. Benchmarking, 24(4), 903–933. https://doi.org/10.1108/BIJ-02-2016-0026
Wahyudi, M., Kusuma, M., Pramiana, O., & Ahamad, A. H. Bin. (2025). Relevansi Nilai Laba Komprehensif Entitas Syariah Di Indonesia dan Malaysia. Ekonika : Jurnal Ekonomi Universitas Kadiri, 10(1), April.
Wang, B., Wang, J., & Zhang, M. (2025). Marketing investment, financial leverage, and corporate investment efficiency. Finance Research Letters, 85. https://doi.org/10.1016/j.frl.2025.107881
Andriana, R., Kusuma, M., Kasim, C. M. M., & Barreto, C. A. (2025). The Effect of Marketing Activities on Profitability With Others Comprehensive Income As Moderation: Evidence from Southeast Asia. Ekuilibrium: Jurnal Ilmiah Bidang Ilmu Ekonomi, 20(1).
Anh, D. L. T., & Gan, C. (2020). Profitability and marketability efficiencies of Vietnam manufacturing firms: An application of a multi-stage process. International Journal of Social Economics, 47(1), 54–71. https://doi.org/10.1108/IJSE-05-2019-0321
Athori, A., & Kusuma, M. (2023). Effect of Others Comprehensive Income on Company Value by Mediation of Retained Earnings: Evidence From Indonesia. JCA (Jurnal Cendekia Akuntansi), 4(2), 141. https://doi.org/10.32503/akuntansi.v4i2.4580
Athori, A., Sari, H. P., Kusuma, M., & Suaidah, Y. M. (2025). Pengaruh Corporate Sustainable Performance Terhadap Comprehensive Financial Performance. Jurnal Proaksi, 12(1).
Brewis, C., Dibb, S., & Meadows, M. (2023). Leveraging big data for strategic marketing: A dynamic capabilities model for incumbent firms. Technological Forecasting and Social Change, 190(December 2021), 122402. https://doi.org/10.1016/j.techfore.2023.122402
Būmane, I. (2018). The methodology of the statement of comprehensive income and its impact on profitability: The case of Latvia. Entrepreneurship and Sustainability Issues, 6(1), 77–86. https://doi.org/10.9770/jesi.2018.6.1(6)
Cao, G., & Weerawardena, J. (2023). Strategic use of social media in marketing and financial performance: The B2B SME context. Industrial Marketing Management, 111, 41–54. https://doi.org/10.1016/j.indmarman.2023.03.007
Chen, E., & Gavious, I. (2016). Unrealized earnings, dividends and reporting aggressiveness: An examination of firms’ behavior in the era of fair value accounting. KAccounting and Finance, 56(1), 217–250. https://doi.org/10.1111/acfi.12187
Chen, K. (2020a). The effects of marketing on commercial banks’ operating businesses and profitability: evidence from US bank holding companies. International Journal of Bank Marketing, 38(5), 1059–1079. https://doi.org/10.1108/IJBM-08-2019-0301
Chen, K. (2020b). The Effects of Marketing on Commercial Banks’ Operating Businesses and Profitability: Evidence from US Bank Holding Companies. International Journal of Bank Marketing, 38(5), 1059–1079. https://doi.org/10.1108/IJBM-08-2019-0301
Chen, K. (2020c). The effects of marketing on commercial banks’ operating businesses and profitability: evidence from US bank holding companies. International Journal of Bank Marketing, 38(5), 1059–1079. https://doi.org/10.1108/IJBM-08-2019-0301
Edeling, A., & Fischer, M. (2016). Marketing’s Impact on Firm Value: Generalizations from a Meta-Analysis. Journal of Marketing Research, 53(4), 515–534. http://www.jstor.org/stable/44134929
Grandhi, B., Patwa, N., & Saleem, K. (2021). Data-Driven Marketing for Growth and Profitability. EuroMed Journal of Business, 16(4), 381–398. https://doi.org/10.1108/EMJB-09-2018-0054
Guenther, P., Guenther, M., Rahman, M., Koval, M., & Iurkov, V. (2025). Advertising in business markets – The obscured bottom-line effect and need for appropriate analytics. Industrial Marketing Management, 126, 185–196. https://doi.org/10.1016/j.indmarman.2025.02.003
Jensen, M., & Meckling, W. (1976). Theory of The Firm: Managerial Behavior, Agency Costs and Ownership Structure. Journal of Financial Economics, 3, 305–360. https://doi.org/10.1177/0018726718812602
Kumar, V., Pozza, I., Petersen, J., & Shah, D. (2019). Reversing the Logic: The Path to Profitability through Relationship Marketing. Journal of Interactive Marketing, 23(2), 147–156. https://doi.org/10.1016/j.intmar.2009.02.003
Kusuma, M. (2017). Konstribusi informasi akuntansi biaya dalam meningkatkan nilai perusahaan dan tanggung jawab kepada stakeholder pada perusahaan manufaktur semen di Indonesia. Ekuilibrium, 12(2), 102–118. http://journal.umpo.ac.id/index.php/ekuilibrium/article/view/673/555
Kusuma, M. (2020). Penghasilan komprehensif lain dan prediksi arus kas masa depan : Bukti dari Indonesia. Seminar Nasional SENIMA Ke 5 Universitas Negeri Surabaya, Senima 5, 815–832. http://bit.ly/ProsidingSenima5
Kusuma, M. (2021a). Measurement of Return on Asset (ROA) based on Comprehensive Income and its Ability to Predict Investment Returns: an Empirical Evidence on Go Public Companies in Indonesia before and during the Covid-19 Pandemic. Ekuilibrium : Jurnal Ilmiah Bidang Ilmu Ekonomi, 16(1), 94. https://doi.org/10.24269/ekuilibrium.v16i1.3238
Kusuma, M. (2021b). Modification of Profitability Measures with Comprehensive Income and Reclassification of Other Comprehensive Income as A Mediation of Effects Asset Utilization on Firm Value. Jurnal Keuangan Dan Perbankan, 25(4), 855–879. https://doi.org/10.26905/jkdp.v25i4.6132
Kusuma, M. (2023a). Can the Reclassification of Others Comprehensive Income Narrow Opportunities for Creative Accounting: Earnings Management and Income Smoothing? Jurnal Akuntansi Dan Keuangan, 25(1).
Kusuma, M. (2023b). Pengaruh Kinerja Operasi, Entitas Anak dan Asosiasi Terhadap Laba dan Ekuitas yang Diatribusi : Bukti dari Indonesia. JCA (Jurnal Cendekia Akuntansi), 4(2), 120. https://doi.org/10.32503/akuntansi.v4i2.4579
Kusuma, M. (2024). Dapatkah Laba Komprehensif Digunakan untuk Memprediksi Financial Distress? TEMA: Jurnal Tera Ilmu Akuntansi, 25(1).
Kusuma, M., & Agustin, B. H. (2023). Can Others Comprehensive Income Affect Dividend Payments In Indonesia? Share: Jurnal Ekonomi Dan Keuangan Islam, 12(1).
Kusuma, M., Assih, P., & Zuhroh, D. (2021). Pengukuran Kinerja Keuangan : Return on Equity (ROE) Dengan Atribusi Ekuitas. Jurnal Ilmiah Manajemen Dan Bisnis, 22(2), 223–244. https://doi.org/10.30596/jimb.v22i2.7935
Kusuma, M., & Athori, A. (2023). Can Income and Equity Attribution Minimize Agency Costs ? (Effect of Attribution Policy on Earnings Management and Firm Value). Proceeding Medan International Economic and Business (MICEB) 2023, 1(1).
Kusuma, M., Chandrarin, G., Cahyaningsih, D. S., & Lisetyati, E. (2022). Reclassification of Others Comprehensive Income, Earnings Management, and Earnings Quality : Evidence From Indonesia. Asia-Pacific Management Accounting Journal, 17(3), 205–237. https://apmaj.uitm.edu.my/index.php/current/20-cv17n3/165-av17n3-8
Kusuma, M., & Hilda Agustin, B. (2024). Relevansi Nilai Kepentingan Non Pengendali dalam Laporan Keuangan Konsolidasi: Bagaimana Pasar Bereaksi dan Kemampuannya dalam Memprediksi Laba dan Dividen? Jurnal Akuntansi Dan Governance, 4(2), 104. https://doi.org/10.24853/jago.4.2.104-124
Kusuma, M., & Kusumaningarti, M. (2023). Earnings Response Coefficient ( ERC ) Berbasis Laba Komprehensif dan Laba Diatribusi : Modifikasi Teori Kandungan Laba ( Ball & Brown , 1968 ). Jurnal Ilmiah Akuntansi Manajemen, 6(2), 141–162. https://doi.org/10.35326/jiam.v6i2.4346
Kusuma, M., & Luayyi, S. (2024). Do others comprehensive income, profit, and equity attributable impact external audit fee? Journal of Accounting and Investment, 25(1), 112–136. https://doi.org/10.18196/jai.v25i1.20470
Kusuma, M., Marjukah, A., & Kasim, C. M. M. (2025). The Value Relevance of Unrealised Earnings. Jurnal Akuntansi Kontemporer (JAKO), 17(1), 12–25. https://doi.org/10.33508/jako.v17i1.5886
Kusuma, M., & Rahayu, P. (2022). Can Others Comprehensive Income Be Used For Tax Avoidance? Jurnal Akuntansi Dan Keuangan (JAK), 24(2), 68–79. https://jurnalakuntansi.petra.ac.id/
Kusuma, M., & Saputra, B. M. (2022). Pengaruh Fundamental Makro Ekonomi Terhadap Penghasilan Komprehensif Lain dan Persistensi Laba Komprehensif. Jurnal Kajian Akuntansi, 6(1), 145–176.
Kusuma, M., Zuhroh, D., Assih, P., & Chandrarin, G. (2021). The Effect of Net Income and Other Comprehensive Income on Future’s Comprehensive Income With Attribution of Comprehensive Income as Moderating Variable. International Journal of Financial Research, 12(3), 205–219.
Leelavathy, V., & Kamali, V. (2024). Sustainability Marketing: A Study on Balancing Profitability with Social and Environmental Responsibilities. International Journal of Research and Analysis in Commerce and Management, 13(3), 62–73. https://doi.org/10.1177/ijracm.2024.06.15
Liang, X., & Gao, Y. (2020). Marketing performance measurement systems and firm performance: Are marketing capabilities the missing links? European Journal of Marketing, 54(4), 885–907. https://doi.org/10.1108/EJM-05-2018-0302
Marchini, P. L., & D’Este, C. (2015). Comprehensive Income and Financial Performance Ratios: Which Potential Effects on RoE and on Firm’s Performance Evaluation? Procedia Economics and Finance, 32(January 2009), 1724–1739. https://doi.org/10.1016/s2212-5671(15)01478-1
Modigliani, F., & Miller, M. H. (1963). Corporate Income Tax and the Cost of Capital : A Correction. The American Economics Review, 53(3), 433–443. www.jstor.org/stable/1809167
Molla, M. I., & Rahaman, M. K. Bin. (2022). Effect of advertising spending on operating and market performance of banks: empirical evidence from Bangladesh. Asian Journal of Accounting Research, 7(1), 97–110. https://doi.org/10.1108/AJAR-06-2021-0084
Morgan, N., Slotegraaf, R., & Vorhies, D. (2019). Linking Marketing Capabilities With Profit Growth. International Journal of Research in Marketing, 26(4), 284–293. https://doi.org/10.1016/j.ijresmar.2009.06.005
Mubeen, R., Han, D., Abbas, J., & Hussain, I. (2020). The effects of market competition, capital structure, and CEO duality on firm performance: A mediation analysis by incorporating the GMM model technique. Sustainability (Switzerland), 12(8). https://doi.org/10.3390/SU12083480
Murdiyanto, E., & Kusuma, M. (2022). Moderasi Leverage dalam Pengaruh Ukuran Bank dan Aset Keuangan Terhadap Kinerja Keuangan Komprehensif BPR Konvensional dan BPR Syariah Se-Kediri Raya. Jurnal Ekonika : Jurnal Ekonomi Universitas Kadiri, 7(2). http://ojs.unik-kediri.ac.id/index.php/ekonika/index
Olim, A., Balbaa, M. E., Batirova, N., Gulnora, G., & Zokir, S. (2025). Examining the integration of marketing campaigns and profitability in enterprises: An econometric analysis in business evaluation. International Journal of Innovative Research and Scientific Studies, 8(2), 3285–3292. https://doi.org/10.53894/ijirss.v8i2.5998
Ouyang, M., Zhou, D., & Zhou, N. (2002). Estimating marketing persistence on sales of consumer durables in China. Journal of Business Research, 55, 337–342.
Rahman, M., Rodríguez-Serrano, M. Á., & Lambkin, M. (2020). Advertising efficiency and profitability: Evidence from the pharmaceutical industry. Industrial Marketing Management, 89, 619–629. https://doi.org/10.1016/j.indmarman.2019.02.001
Rahman, M., Serrano, M., & L, M. (2020). Advertising efficiency and profitability: Evidence from the pharmaceutical industry. Industrial Marketing Management, 89, 619–629. https://doi.org/10.1016/j.indmarman.2019.02.001
Ratih, N. R., Kusuma, M., Suaidah, Y. M., & Ahamad, A. H. Bin. (2025). Modification of Financial Ratio Analysis Based on Fair Value : Is It More Predictive? Jurnal Akuntansi Dan Perpajakan, 11(1), Maret.
Sheng, D., & Montgomery, H. A. (2023). Bond Issuance as Reputational Signal: Debunking the Negative Perception of Additional Liability. International Journal of Financial Studies, 11(4). https://doi.org/10.3390/ijfs11040126
Valentyn, K., & Pavlov, R. (2017). Relation between marketing expenses and bank’s financial position: Ukrainian reality. Benchmarking, 24(4), 903–933. https://doi.org/10.1108/BIJ-02-2016-0026
Wahyudi, M., Kusuma, M., Pramiana, O., & Ahamad, A. H. Bin. (2025). Relevansi Nilai Laba Komprehensif Entitas Syariah Di Indonesia dan Malaysia. Ekonika : Jurnal Ekonomi Universitas Kadiri, 10(1), April.
Wang, B., Wang, J., & Zhang, M. (2025). Marketing investment, financial leverage, and corporate investment efficiency. Finance Research Letters, 85. https://doi.org/10.1016/j.frl.2025.107881
Published
2025-10-27
How to Cite
MARJUKAH, Anis et al.
Marketing Management and Corporate Comprehensive Profitability with Leverage Moderation : South East Asia Evidence.
JMK (Jurnal Manajemen dan Kewirausahaan), [S.l.], v. 10, n. 3, p. 197-211, oct. 2025.
ISSN 2656-0771.
Available at: <https://ejournal.uniska-kediri.ac.id/index.php/ManajemenKewirausahaan/article/view/7856>. Date accessed: 23 jan. 2026.
doi: https://doi.org/10.32503/jmk.v10i3.7856.
Section
Artikel Ilmiah
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