Abstract:This study investigates the role of acquisition premiums in mergers and acquisitions (M&A) and their impact on shareholder wealth, focusing on five major Indian deals in pharmaceuticals, retail, banking, steel, and renewable…
able energy sectors. Potential synergies often justify acquisition premiums ranging from approximately 15% to 40% above target companies’ market values. However, market responses suggest that such premiums may not consistently result in value creation for acquiring firms' shareholders. Empirical findings reveal mixed outcomes: Sun Pharma’s acquisition of Ranbaxy led to a 9.8% share price increase within five days, while Tata Steel’s high-premium acquisition of Bhushan Steel saw only a 1.7% gain. In contrast, deals like Reliance–Future Retail and Tata Power–Welspun Power showed minimal or negative returns, despite sizable premiums. These patterns indicate that premium size alone is not a reliable predictor of post-deal shareholder wealth creation. The study concludes that M&A success depends more on strategic fit, market timing, and sectoral dynamics than on the premium offered. This analysis contributes to the broader M&A discourse by offering evidence-based insights into how premium valuations can either maximise or dilute shareholder value, aiding investors, corporate strategists, and policy analysts in deal assessment.
Abstract:This study investigates the role of acquisition premiums in mergers and acquisitions (M&A) and their impact on shareholder wealth, focusing on five major Indian deals in pharmaceuticals, retail, banking, steel, and renewable…
able energy sectors. Potential synergies often justify acquisition premiums ranging from approximately 15% to 40% above target companies’ market values. However, market responses suggest that such premiums may not consistently result in value creation for acquiring firms' shareholders. Empirical findings reveal mixed outcomes: Sun Pharma’s acquisition of Ranbaxy led to a 9.8% share price increase within five days, while Tata Steel’s high-premium acquisition of Bhushan Steel saw only a 1.7% gain. In contrast, deals like Reliance–Future Retail and Tata Power–Welspun Power showed minimal or negative returns, despite sizable premiums. These patterns indicate that premium size alone is not a reliable predictor of post-deal shareholder wealth creation. The study concludes that M&A success depends more on strategic fit, market timing, and sectoral dynamics than on the premium offered. This analysis contributes to the broader M&A discourse by offering evidence-based insights into how premium valuations can either maximise or dilute shareholder value, aiding investors, corporate strategists, and policy analysts in deal assessment
Abstract:Amidst a digitized business landscape, Digital Leadership (DL) has emerged as a crucial predictor of Team Performance. However, a fundamental question arises: which dimensions of digital leadership truly drive performance…
e technical skills (tech-savviness), strategic vision, or relational skills? This study uses a Systematic Literature Review (SLR) of 51 articles to deconstruct digital leadership into four main dimensions: (1) Technological, (2) Visionary-Strategic, (3) Relational-Emotional, and (4) Structural-Managerial. The findings reveal an unexpected pattern: the technological dimension only acts as a hygiene factor, while the structural-managerial and visionary-strategic dimensions show the most consistent impact on team performance. Furthermore, the effectiveness of the relational dimension is highly context-dependent, strong in small Agile teams but NOT significant in large bureaucratic organizations. These findings suggest a reframing of the conventional assumption that “digital leaders” must start with technical expertise, and instead suggest that organizations should train digital talent in soft skills and strategic vision, or train existing visionary leaders in basic digital literacy.
Abstract:This study investigates how Word of Mouth, service quality, and brand image influence B2B customer loyalty at As-Syifaa Pharmacy in Majalengka, with customer satisfaction acting as a mediating variable. A quantitative approach…
proach was applied using the SEM-PLS method, drawing on data from 300 purposively selected customers. The analysis included measurement of validity and reliability, followed by structural model testing to identify both direct and indirect relationships among variables. The findings reveal that Word of Mouth, service quality, and brand image each play a meaningful role in enhancing customer satisfaction, which in turn becomes the strongest predictor of customer loyalty. Satisfaction was also found to mediate the effects of the three antecedent variables, either fully or partially, highlighting its central role in shaping long-term business relationships. These results indicate that building B2B customer loyalty requires more than consistent operational performance; it also depends on maintaining a credible brand reputation and fostering positive relational communication within the business network. Based on these insights, the study recommends strengthening service standards, reinforcing brand consistency, and managing interpersonal communication to support sustainable loyalty among B2B partners.
Abstract:This study aims to analyze the influence of the marketing mix, service quality, and customer satisfaction on repurchase intention at Singhasari Resort. The research employs a quantitative approach using Partial Least Squares–Structural…
ares–Structural Equation Modeling (PLS-SEM). The sample consists of guests who had stayed at least once at Singhasari Resort during the period of January 2024 to November 2025. The findings indicate that (1) the marketing mix has a significant effect on customer satisfaction and repurchase intention, (2) service quality significantly influences customer satisfaction and repurchase intention, although it represents the weakest predictor, (3) customer satisfaction significantly affects repurchase intention, and (4) customer satisfaction mediates the relationship between the marketing mix and service quality on repurchase intention.
Abstract:Stunting remains a major public health issue in Pesisir Selatan Regency, where the prevalence reached 29.8% in 2023, affecting children’s physical growth and cognitive development. This study aimed to analyze the association…
iation between maternal characteristics (parity, maternal age during pregnancy, age at marriage, birth spacing, education level, occupation, and exclusive breastfeeding) and family income with stunting among children under five. A cross-sectional design was employed involving 30 mothers of young children selected from the working area of Kayu Gadang Public Health Center. Data were collected using structured questionnaires and anthropometric measurements, and analyzed using the Chi-Square test.The results showed that 66.7% of the children were stunted. Maternal characteristics—including parity, maternal age during pregnancy, age at marriage, birth spacing, educational level, and occupation—were not significantly associated with stunting (p>0.05). Significant associations were found between exclusive breastfeeding (p=0.019) and family income (p=0.026) with stunting. Children from families earning below the regional minimum wage and those not exclusively breastfed were more likely to be stunted.In conclusion, exclusive breastfeeding and family income are significant predictors of stunting. Therefore, interventions should emphasize improving exclusive breastfeeding practices and strengthening economic support for at-risk families. These findings are expected to guide evidence-based stunting prevention strategies in Pesisir Selatan Regency.
Abstract:This study investigates the influence of gender, family economic background, and entrepreneurship education on the entrepreneurial interest of vocational high school students in Depok. Using a quantitative explanatory design,…
sign, data were collected from 123 students via structured questionnaires and analyzed through t-tests, F-tests, and multiple linear regression. The results show that all three variables positively affect entrepreneurial interest, with entrepreneurship education emerging as the strongest predictor (β = 0.641, p < 0.001), followed by family background (β = 0.239, p = 0.006) and gender (β = 0.228, p = 0.012). These findings indicate that students’ entrepreneurial intention is primarily shaped by formal entrepreneurship education, supported by family influence and gender-related differences in confidence and risk orientation. The study emphasizes the importance of practical entrepreneurship education and a supportive family environment in fostering entrepreneurial interest among vocational students, contributing to a sustainable youth entrepreneurship ecosystem.
Abstract:Nurses, as the frontline of healthcare services, are expected to deliver optimal performance that frequently goes beyond their formal duties, thus requiring robust psychological capital to support voluntary work behaviors…
s known as Organizational Citizenship Behavior (OCB). This study aims to analyze the effect of Psychological Capital (PsyCap), which comprises hope, efficacy, resilience, and optimism, on nurses' OCB in regional hospitals and to identify the most dominant dimension influencing OCB. Employing a quantitative correlational approach, this research collected primary data through structured questionnaires distributed to nurses as respondents. The data were analyzed using descriptive statistics, multiple regression analysis, and moderated regression analysis to test variable relationships and the moderating effects of demographic factors. The results indicate that the levels of PsyCap and OCB among nurses are relatively high, with resilience emerging as the most significant predictor of OCB. These findings strengthen the position of PsyCap as an essential psychological resource that fosters prosocial behaviors among nurses, especially in regional hospitals often challenged by limited human resources. The implications suggest that hospital management should design PsyCap enhancement programs, focusing particularly on strengthening nurses' mental resilience to sustainably improve healthcare service quality. This study also contributes theoretically by enriching the literature on organizational behavior within the Indonesian healthcare sector.
Abstract:This study aimed to identify risk factors associated with hypertension in Bonto Tallasa Village, Uluere Subdistrict, Bantaeng Regency, in 2025. The research examined three factors: family history, excessive sodium intake,…
, and stress. A quantitative case–control design was applied to 60 respondents (30 cases and 30 controls) selected through purposive sampling. The results showed that individuals with a family history of hypertension were about 26 times more likely to develop hypertension than those without such a history, indicating a strong and significant association. Excessive sodium intake increased the risk approximately 3.5 times and was statistically significant. Stress was associated with nearly double the risk, but this association was not statistically significant, possibly due to individual differences in coping mechanisms and measurement limitations of subjective stress levels. This suggests that stress may influence hypertension indirectly through behavioral or physiological pathways. In conclusion, family history and excessive sodium intake are significant predictors of hypertension, while stress contributes to an elevated yet statistically nonsignificant risk. Preventive strategies should emphasize sodium reduction, regular blood pressure monitoring, and effective stress management in daily life.
Abstract:Home birth selection is a complex decision influenced by various factors. This study aimed to determine the relationship between knowledge and antenatal care (ANC) visits with the decision-making of home birth in the working…
king area of Mapaddegat Public Health Center, Mentawai Islands Regency. This research was a descriptive analytic study with a case-control design, conducted from February to May 2025, involving mothers who gave birth and were recorded in the maternal cohort data from January 2023 to December 2024. A systematic random sampling technique was applied, consisting of 21 respondents in the case group and 42 respondents in the control group. Data were analyzed using univariate and bivariate analysis with the chi-square statistical test. The univariate results showed that 74.6% had high knowledge, and 57.2% had more than four ANC visits. The bivariate analysis revealed a significant relationship between knowledge (p = 0.011; OR = 5.455) and the number of ANC visits (p = 0.015; OR = 4.462) with the decision to give birth at home. It can be concluded that there is a relationship between knowledge and the number of ANC visits with home birth decision-making. It is recommended for the Mapaddegat Public Health Center staff to strengthen health promotion regarding delivery in health facilities and develop innovations to increase the coverage of facility-based deliveries.