The Effect of Marketing Activities on Profitability with Others Comprehensive Income as Moderation: Evidence from Southeast Asia
DOI:
https://doi.org/10.24269/ekuilibrium.v20i1.2025.pp143-160Abstract
This research aims to know moderated of others comprehensive income in link of marketing activities on the profitability of financial sector firm in the Southeast Asia region. Research on profitability determination has been widely conducted, but testing the moderating role of Others Comprehensive Income (OCI) in link marketing activities on financial profitability in financial sector companies has not been widely conducted. This is important because financial sector companies have large financial assets. The source of funding comes from funding funds that are inseparable from marketing activities. Ownership of large financial assets has an impact of other comprehensive income (OCI), especially the type of unrealized earnings from adjustment assets include financial types that are ready to be realized (AFS). Observation data of 612 from the financial statements of a sample of 153 financial sector companies in 2020 - 2023 in five Southeast Asian countries, namely Indonesia, Thailand, Malaysia, Singapore, and the Philippines. Data analysis using Moderated Regression Analysis and showing the results that the existence of OCI in financial sector companies is proven to strengthen the positive impact activities of marketing to ROA or profitability. The originality of this study is to test OCI’s moderated in link marketing activities on profitability. Large OCI AFS ownership in financial sector companies is important information for investors regarding future profitability, because AFS will be realized in the future, and its realization will certainly affect net income.
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References
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Bendle, N., & Wang, X. (2017). Marketing Accounts. International Journal of Research in Marketing, 34(3), 604–621. https://doi.org/10.1016/j.ijresmar.2017.03.002
Chen, K. (2020). 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
Falat, L., & Holubcik, M. (2017). The Influence of Marketing Communication on Financial Situation of the Company – A Case from Automobile Industry. Procedia Engineering, 192, 148–153. https://doi.org/10.1016/j.proeng.2017.06.026
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
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
Khan, M., & Ali, T. (2020). Impact of Advertising and Promotional Expenses on Profitability of Automobile Industry of Pakistan. Journal of Engineering and Economic Development, 6(1), 40–51. https://doi.org/10.61405/jeed
Kombih, M., & Suhardianto, N. (2017). Pengaruh Aktivitas Pemasaran, Kinerja Keuangan, Dan Aset Tidak Berwujud Terhadap Nilai Perusahaan. Ekuitas: Jurnal Ekonomi Dan Keuangan, 1(3), 281–302. https://doi.org/10.24034/j25485024.y2017.v1.i3.1909
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. (2016). Studi Tentang Beban Pokok Produksi, Pengaruhnya Terhadap Kemandirian Pendanaan Perusahaan Rokok Go Public Di Indonesia. Jurnal Akuntansi Dan Ekonomi JAE, 1(1), 9–25.
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. (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). Nilai Relevansi Lima Item Parsial Penghasilan Komprehensif Lainnya (OCI) Dalam Kondisi Fundamental Makro Ekonomi Terdampak Covid-19. In G. Chandrarin (Ed.), Book Chapter : Kajian Tentang Penerapan Akuntansi Di Era Digitalisasi dan Pandemi Covid-19 (1st ed., pp. 1–24). Dimar Intermedia.
Kusuma, M. (2023c). 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. (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., & Agustin, B. H. (2023). Can Others Comprehensive Income Affect Dividend Payments In Indonesia? Share: Jurnal Ekonomi Dan Keuangan Islam, 12(1).
Kusuma, M., & Agustin, B. H. (2024). Nilai Relevansi Kepentingan Non Pengendali dalam Laporan Keuangan Konsolidasi : Bagaimana Pasar Bereaksi, dan Kemampuannya dalam Memprediksi Laba dan Dividen? Jurnal Akuntansi Dan Governance, 4(2). https://medium.com/@arifwicaksanaa/pengertian-use-case-a7e576e1b6bf
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. (2023a). Can Income and Equity Attribution Minimize Agency Costs ? ( Effect of Attribution Policy on Earnings Management and Firm Value ). Proceeding Medan International Conference Economics and Business (MICEB), 1(January), 1950–1962. https://proceeding.umsu.ac.id/index.php/Miceb/index
Kusuma, M., & Athori, A. (2023b). 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., & 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.
Lee, B., Liu, J.-Y., & Hung-Hao, C. (2020). The Choice Of Marketing Channel And Farm Profitability: Empirical Evidence From Small Farmers. Agribusiness: An International Journal, 36(3), 402–421. https://doi.org/10.1016/j.jnc.2020.125798%0Ahttps://doi.org/10.1016/j.smr.2020.02.002%0Ahttp://www.ncbi.nlm.nih.gov/pubmed/810049%0Ahttp://doi.wiley.com/10.1002/anie.197505391%0Ahttp://www.sciencedirect.com/science/article/pii/B9780857090409500205%0Ahttp:
Lee, J., Lee, S. J., Choi, S., & Kim, S. (2020). The usefulness of other comprehensive income for predicting future earnings. Journal of Asian Finance, Economics and Business, 7(5), 31–40. https://doi.org/10.13106/JAFEB.2020.VOL7.NO5.031
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
Lessmann, S., Haupt, J., Coussement, K., & WDB, K. (2021). Targeting customers for profit: An ensemble learning framework to support marketing decision-making. Information Sciences, 557, 286–301. https://doi.org/10.1016/j.ins.2019.05.027
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
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
Njegomir, V. (2019). Economy and Marketing: The Connection, Similarities and Differences. Civitas, 9(1), 13–25. https://doi.org/10.1033/civitas.2019.9.1
Qi, D., Penn, J., Li, R., & Brian, E. (2022). Winning Ugly: Profit Maximizing Marketing Strategies For Ugly Foods. Journal of Retailing and Consumer Services, 64(102834). https://doi.org/10.1016/j.jretconser.2021.102834
Rachmawati, N., Gani, L., & Hilda, R. (2017). Loyalitas Nasabah Dan Kinerja Perbankan Di Indonesia. Jurnal Keuangan Dan Perbankan, 21(1), 144–156. https://doi.org/10.26905/jkdp.v21i1.1235
Rahayu, P., & Kusuma, I. W. (2020). Predictive Value of Other Comprehensive Income: Evidence From Asean. Jurnal Akuntansi Dan Keuangan Indonesia, 17(2). https://doi.org/10.21002/jaki.2020.09
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
Runtunuwu, P. C. H., & Hussin, H. (2024). Banking Profitability Analysis: Company Cases on the Stock Exchange Indonesian Securities (BEI). Ekuilibrium : Jurnal Ilmiah Bidang Ilmu Ekonomi, 19(1), 73–91. https://doi.org/10.24269/ekuilibrium.v19i1.2024.pp73-91
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Published
2025-03-12
How to Cite
Andriana, R., Kusuma, M., Mohd Kasim, C. 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), 143–160. https://doi.org/10.24269/ekuilibrium.v20i1.2025.pp143-160
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