Integrated Fundamental–Technical Evaluation of Jollibee Foods Corporation: Financial Performance, Market Behavior, and Investment Outlook
DOI:
https://doi.org/10.65166/azkk2x82Keywords:
Jollibee Foods Corporation, fundamental analysis, technical analysis, valuation, profitability, market sentiment, Philippine Stock Exchange, QSR industry, investment decision, emerging markets, clearer trend-reversal signalsAbstract
This study develops and applies an integrated fundamental–technical analysis (FA–TA) workflow to evaluate Jollibee Foods Corporation (JFC), a major Philippine-listed quick-service restaurant (QSR) conglomerate, by synthesizing firm fundamentals and market behavior across a post-pandemic observation window. Using secondary data from issuer disclosures and platform-generated market analytics—specifically outputs traceable to the Philippine Stock Exchange (PSE) environment and widely used analytics platforms (e.g., Investagrams and Simply Wall St)—the analysis covers January 2020 to November 30, 2025. Fundamental indicators were organized around profitability, liquidity, leverage/solvency, and valuation-related metrics, while the technical component assessed trend and momentum conditions using commonly applied signals (moving-average structure, RSI- and MACD-type momentum interpretations, volatility band behavior, and volume/accumulation cues). Results indicate a pattern of operational recovery over the medium term, reflected in improving profitability-oriented signals and stabilization in return-related measures compared with the most disrupted pandemic periods. However, the firm’s financial profile also exhibits persistent balance-sheet constraints, particularly in liquidity flexibility and leverage exposure, implying heightened sensitivity to interest-rate conditions and cost pressures that can affect cash-flow resilience. Valuation signals present a mixed picture: platform-reported multiples suggest neither an unequivocal premium nor a uniform discount across the window, and the study notes that reported valuation values may vary depending on extraction date, platform computation basis, and trailing earnings inputs. In the market-behavior layer, technical conditions remain cautious-to-bearish across substantial portions of the window, with price action frequently positioned below key trend references and momentum signals indicating weak accumulation despite fundamental improvement signals. Overall, the study demonstrates how FA–TA integration can produce a structured, audit-traceable characterization of firm condition in an emerging-market setting where platform “as-of” differences and sentiment-driven price dynamics may lead to divergence between improving fundamentals and adverse technical signals. Findings are presented as an indicative analytical synthesis for educational and methodological purposes, not as investment advice.
References
Andersson, U., Johanson, J., & Vahlne, J.-E. (1998). Organic acquisitions in the internationalization process of the business firm. Management International Review, 38(2), 67–84.
Andrade, C., Santos, L., & Areias, C. (2025). Understanding ESG prioritization in companies from tropical emerging markets and Australia. Journal of Tropical Futures: Sustainable Business, Governance & Development. https://doi.org/10.1177/27538931241304315
Aridan, M., I., I., Villarama, J., & Fuente, A. (2025). Post-launch public interest in DeepSeek vs. ChatGPT: A comparative Google Trends analysis in Indonesia and the Philippines. Blockchain, Artificial Intelligence, and Future Research. https://doi.org/10.70211/bafr.v1i1.166
Atento, R. G. (2025). Valuation metrics, market efficiency, and investor sentiment: A descriptive analysis of Philippine Stock Exchange–listed firms. International Journal of Health & Business Analytics, 1(1).
Belanche, D., Flavián, M., & Pérez-Rueda, A. (2020). Mobile apps use and WOM in the food delivery sector: The role of planned behavior, perceived security and customer lifestyle compatibility. Sustainability, 12(10), 4275. https://doi.org/10.3390/su12104275
Botelho, L., Cardoso, L., & Canella, D. (2020). COVID-19 and the digital food environment in Brazil: Reflections on the pandemic's influence on the use of food delivery apps. Cadernos de Saúde Pública, 36(11), e00148020. https://doi.org/10.1590/0102-311x00148020
Bretas, V., & Alon, I. (2020). The impact of COVID-19 on franchising in emerging markets: An example from Brazil. Global Business and Organizational Excellence, 39(3), 6–16. https://doi.org/10.1002/joe.22053
Bretas, V., & Alon, I. (2021). Franchising research on emerging markets: Bibliometric and content analyses. Journal of Business Research, 133, 51–65. https://doi.org/10.1016/j.jbusres.2021.04.067
Chen, H., Liang, C., Liao, S., & Kuo, H. (2020). Consumer attitudes and purchase intentions toward food delivery platform services. Sustainability, 12(23), 10177. https://doi.org/10.3390/su122310177
Chiu, C., Ho, H., Xie, Z., Wu, Q., & Yuan, Y. (2024). Culturally mixed co-branding product framing in China: The role of cultural sensitivity, product quality, and purchase probability. Humanities and Social Sciences Communications, 11, 1–14. https://doi.org/10.1057/s41599-024-02954-1
Costa, N., Dias, R., Galvão, R., Alexandre, P., Palma, C., & Leote, F. (2025). The influence of the international oil price on the EUR/USD exchange rate. Journal of Ecohumanism, 4(4), 1–18. https://doi.org/10.62754/joe.v4i4.6719
Costa, V. D., & Atento, R. G. (2025). Financial performance and market viability of Globe Telecom, Inc.: An integrated fundamental–technical analysis. International Journal of Health & Business Analytics, 1(1).
Couture, V., & Handbury, J. (2020). Urban revival in America. Journal of Urban Economics, 119, 103267. https://doi.org/10.1016/j.jue.2020.103267
Da Costa Kung, V., Kerihi, A., & Muga, M. (2025). Analisis pengaruh kinerja keuangan terhadap harga saham pada perusahaan index LQ45 yang terdaftar pada Bursa Efek Indonesia (BEI) periode 2019–2023. Jurnal Kendali Akuntansi, 3(1), 45–58. https://doi.org/10.59581/jka-widyakarya.v3i1.4729
Dipietro, R. (2017). Restaurant and foodservice research. International Journal of Contemporary Hospitality Management, 29(4), 1203–1234. https://doi.org/10.1108/ijchm-01-2016-0046
Dirsehan, T., & Cankat, E. (2021). Role of mobile food-ordering applications in developing restaurants’ brand satisfaction and loyalty in the pandemic period. Journal of Retailing and Consumer Services, 62, 102608. https://doi.org/10.1016/j.jretconser.2021.102608
Evemy, J., Berry, C., & Yates, E. (2023). Low interest rates, low productivity, low growth? A multi-sector case study of UK-based firms’ funding and investment strategies in the context of loose monetary policy. New Political Economy, 29(2), 240–259. https://doi.org/10.1080/13563467.2023.2240237
Figueira-De-Lemos, F., Johanson, J., & Vahlne, J.-E. (2011). Risk management in the internationalization process of the firm: A note on the Uppsala model. Journal of World Business, 46(2), 143–153. https://doi.org/10.1016/j.jwb.2010.05.008
Gakpo, M., & Fuasu, I. (2025). Working capital management and performance of manufacturing and distributing firms listed on Ghana Stock Exchange. SSRN Electronic Journal. https://doi.org/10.2139/ssrn.5247428
Gakpo, M., & Reichmann, R. (2025). The influence of insurance marketing strategy on competitive advantage and performance in Ghana. Business & Management Compass, 1(1), 23–39. https://doi.org/10.56065/dpq36057
Gavilan, D., Balderas-Cejudo, A., Fernández-Lores, S., & Martinez-Navarro, G. (2021). Innovation in online food delivery: Learnings from COVID-19. International Journal of Gastronomy and Food Science, 24, 100330. https://doi.org/10.1016/j.ijgfs.2021.100330
Ghorbanzadeh, D., Rahehagh, A., & Ghiyasi, M. (2024). Enhancing word of mouth in quick service restaurants: Role of perceived brand globalness and localness. Nankai Business Review International. https://doi.org/10.1108/nbri-08-2023-0069
Giri, R., Mondal, S., & Maiti, M. (2020). Bundle pricing strategies for two complementary products with different channel powers. Annals of Operations Research, 287, 701–725. https://doi.org/10.1007/s10479-017-2632-y
Gupta, M., & Varshney, S. (2021). Does exchange rate volatility influence import commodities of India–US? Evidence from ARDL approach. South Asian Journal of Business Studies, 10(3), 397–418. https://doi.org/10.1108/SAJBS-02-2021-0056
Han, S., Chen, C., & Lee, T. (2021). The interaction between individual cultural values and the cognitive and social processes of global restaurant brand equity. International Journal of Hospitality Management, 94, 102847. https://doi.org/10.1016/j.ijhm.2020.102847
Headey, D., & Ruel, M. (2023). Food inflation and child undernutrition in low and middle income countries. Nature Communications, 14, Article 6490. https://doi.org/10.1038/s41467-023-41543-9
Hestika, D., & Armelly, A. (2025). Analysis of the influence of exports, imports, foreign direct investment (FDI) and unemployment on economic growth: A study in 6 ASEAN countries. Formosa Journal of Multidisciplinary Research, 4(1), 112–128. https://doi.org/10.55927/fjmr.v4i1.13187
Huang, X., Yang, S., & Wang, Z. (2021). Optimal pricing and replenishment policy for perishable food supply chain under inflation. Computers & Industrial Engineering, 158, 107433. https://doi.org/10.1016/j.cie.2021.107433
Hussain, I., Mu, S., Mohiuddin, M., Danish, R., & Sair, S. (2020). Effects of sustainable brand equity and marketing innovation on market performance in the hospitality industry. Sustainability, 12(7), 2939. https://doi.org/10.3390/su12072939
Ibrahim, K., Handoyo, R., Kristianto, F., Kusumawardani, D., Ogawa, K., Zaidi, M., Erlando, A., Haryanto, T., & Sarmidi, T. (2024). Exchange rate volatility and COVID-19 effects on Indonesia’s food products trade: Symmetric and asymmetric approach. Heliyon, 10(7), e32611. https://doi.org/10.1016/j.heliyon.2024.e32611
Jena, S., & Ghadge, A. (2020). Product bundling and advertising strategy for a duopoly supply chain: A power-balance perspective. Annals of Operations Research, 315, 1729–1753. https://doi.org/10.1007/s10479-020-03861-9
Ji, M., & Weil, D. (2015). The impact of franchising on labor standards compliance. ILR Review, 68(5), 977–1006. https://doi.org/10.1177/0019793915586384
Johanson, J., & Vahlne, J.-E. (1977). The internationalization process of the firm: A model of knowledge development and increasing foreign market commitments. Journal of International Business Studies, 8(1), 23–32. https://doi.org/10.1057/palgrave.jibs.8490676
Johanson, J., & Vahlne, J.-E. (1990). The mechanism of internationalisation. International Marketing Review, 7(4), 11–24. https://doi.org/10.1108/02651339010137414
Johanson, J., & Vahlne, J.-E. (2003). Business relationship learning and commitment in the internationalization process. Journal of International Entrepreneurship, 1(1), 83–101. https://doi.org/10.1023/A:1023219207042
Johanson, J., & Vahlne, J.-E. (2006). Commitment and opportunity development in the internationalization process: A note on the Uppsala internationalization process model. Management International Review, 46(2), 165–178. https://doi.org/10.1007/s11575-006-0043-4
Johanson, J., & Vahlne, J.-E. (2009). The Uppsala internationalization process model revisited: From liability of foreignness to liability of outsidership. Journal of International Business Studies, 40(9), 1411–1431. https://doi.org/10.1057/jibs.2009.24
Johanson, J., & Vahlne, J.-E. (2011). Markets as networks: Implications for strategy-making. Journal of the Academy of Marketing Science, 39(4), 484–491. https://doi.org/10.1007/s11747-010-0235-0
Karamshetty, V., Freeman, M., & Hasija, S. (2020). An unintended consequence of platform dependence: Empirical evidence from food-delivery platforms. SSRN. https://doi.org/10.2139/ssrn.3667539
Kim, J., Yang, I., Yang, T., & Koveos, P. (2020). The impact of R&D intensity, financial constraints, and dividend payout policy on firm value. Finance Research Letters, 32, 101802. https://doi.org/10.1016/j.frl.2020.101802
Klonowski, D., Power, J., & Linton, D. (2008). The development of franchise operations in emerging markets. Cornell Hospitality Quarterly, 49(4), 436–449. https://doi.org/10.1177/1938965508324294
Köse, N., & Ünal, E. (2022). The effects of the oil price and temperature on food inflation in Latin America. Environment, Development and Sustainability, 24, 12584–12610. https://doi.org/10.1007/s10668-022-02817-2
Lambert, A., Jones, R., & Clinton, S. (2021). Employee engagement and the service profit chain in a quick-service restaurant organization. Journal of Business Research, 135, 214–225. https://doi.org/10.1016/j.jbusres.2021.06.009
Leung, X., & Cai, R. (2021). How pandemic severity moderates digital food ordering risks during COVID-19. Journal of Hospitality and Tourism Management, 47, 497–505. https://doi.org/10.1016/j.jhtm.2021.05.002
Line, N., & Hanks, L. (2020). A holistic model of the servicescape in fast-casual dining. International Journal of Contemporary Hospitality Management, 32(1), 288–306. https://doi.org/10.1108/ijchm-04-2019-0360
Lisboa, I., Costa, M., & Reis, C. (2025). Financial reporting quality impact on the firms’ capital structure. Review of Accounting and Finance. https://doi.org/10.1108/RAF-07-2024-0290
Liu, Y. (2023). Analysis and valuation of McDonald’s—Multiple valuation method of P/E ratio and EV/EBITDA ratio. BCP Business & Management, 37, 235–242. https://doi.org/10.54691/bcpbm.v37i.3595
Londoño-Giraldo, B., López-Ramírez, Y., & Vargas-Piedrahita, J. (2024). Engagement and loyalty in mobile applications for restaurant home deliveries. Heliyon, 10, e28289. https://doi.org/10.1016/j.heliyon.2024.e28289
Maalouf, N., Sayegh, E., Makhoul, W., & Sarkis, N. (2025). Consumers’ attitudes and purchase intentions toward food ordering via online platforms. Journal of Retailing and Consumer Services, 76, 104151. https://doi.org/10.1016/j.jretconser.2024.104151
Maneejuk, P., & Yamaka, W. (2021). The impact of higher education on economic growth in ASEAN-5 countries. Sustainability, 13(2), 520. https://doi.org/10.3390/su13020520
Mateen, A., Arifianti, N., Ubaidullah, H., Sari, D., Sari, I., & Fatimah, N. (2025). Analysing consumer behaviour and demand dynamics of poultry-based fast food in Faisalabad, Pakistan. International Journal of Current Science Research and Review, 8(2), 91–99. https://doi.org/10.47191/ijcsrr/v8-i2-08
Matos, P., Costa, A., & Da Silva, C. (2021). COVID-19, stock market and sectoral contagion in US: A time-frequency analysis. Research in International Business and Finance, 57, 101400. https://doi.org/10.1016/j.ribaf.2021.101400
Monica, N., Purnamawati, I., & Werastuti, D. (2025). The effect of financial targets and financial stability on fraudulent financial reporting with the audit committee as a moderation. Dinasti International Journal of Economics, Finance & Accounting, 6(3), 545–560. https://doi.org/10.38035/dijefa.v6i3.4736
Mun, S., & Jang, S. (2018). Restaurant operating expenses and their effects on profitability enhancement. International Journal of Hospitality Management, 71, 68–76. https://doi.org/10.1016/j.ijhm.2017.12.002
Munir, Q., Lean, H., & Smyth, R. (2020). CO₂ emissions, energy consumption and economic growth in ASEAN-5 countries: A cross-sectional dependence approach. Energy Economics, 85, 104571. https://doi.org/10.1016/j.eneco.2019.104571
Naeem, M., Sehrish, S., & Costa, M. (2021). COVID-19 pandemic and connectedness across financial markets. Pacific Accounting Review, 33(5), 649–668. https://doi.org/10.1108/PAR-08-2020-0114
Nagpal, G., Dawar, K., Choudhury, S., & Singh, T. (2021). Disruption and innovation trends in the QSR industry. In Global Challenges and Strategic Disruptors in Asian Businesses and Economies. https://doi.org/10.4018/978-1-7998-4787-8.ch011
Nenovska, N. (2025). A comparative institutional arrangements analysis of complex commons: The case of two marine protected areas on the Black Sea coast. Society & Natural Resources, 38(5), 421–440. https://doi.org/10.1080/08941920.2025.2528217
Nona, R. G., & Atento, R. G. (2025). Integrating fundamentals and technicals: Investment attractiveness of Puregold Price Club, Inc. International Journal of Health & Business Analytics, 1(1).
Opstad, L., Idsø, J., & Valenta, R. (2022). The dynamics of the profitability and growth of restaurants: The case of Norway. Economies, 10(2), 53. https://doi.org/10.3390/economies10020053
Patel, D., Patel, K., & Cuesta, C. (2020). Approaching stock market trading with echo state networks. Journal of Student Research, 9(2), 1–8. https://doi.org/10.47611/jsrhs.v9i2.1211
Peersman, G. (2020). International food commodity prices and missing (dis)inflation in the Euro area. Review of Economics and Statistics, 104(1), 85–100. https://doi.org/10.1162/rest_a_00939
Peña, A., & Clariza, J. (2025). Feasibility of electric propulsion systems for light aircraft: Performance, cost efficiency, and sustainability in tropical climates. International Journal for Multidisciplinary Research, 7(2), 1–14. https://doi.org/10.36948/ijfmr.2025.v07i02.40003
Pinkaew, S., Chongbut, T., Khotchasit, N., Sujirapanya, A., & Chansarn, S. (2024). Impact of e-commerce on profitability and efficiency of restaurant companies in Thailand: Empirical evidence from 40 leading restaurant companies. In Proceedings of the 2024 15th International Conference on E-Education, E-Business, E-Management and E-Learning (pp. 123–130). https://doi.org/10.1145/3670013.3670048
Poretti, C., & Blal, I. (2020). The asset-light strategies and the dividend puzzle: International evidence from the hospitality industry. International Journal of Hospitality Management, 91, 102639. https://doi.org/10.1016/j.ijhm.2020.102639
Pratiwi, P., Onoyi, N., & Mursal, M. (2025). Pengaruh arus kas operasi, arus kas investasi, arus kas pendanaan dan laba akuntansi terhadap return saham pada perusahaan makanan dan minuman yang terdaftar di BEI periode 2017–2021. Zona Keuangan, 14(3), 201–213. https://doi.org/10.37776/zuang.v14i3.1700
Putri, N., & Noveria, A. (2023). Business valuation using discounted cash flow method in restaurant industry (Case study: Coffee Shop XYZ). International Journal of Current Science Research and Review, 6(2), 453–463. https://doi.org/10.47191/ijcsrr/v6-i2-60
Rao, G., & Parekh, K. (2016). Impact of quick service restaurants (QSR) such as McDonald’s, KFC on smaller Indian eatery joints such as Udipi. Reflections – Journal of Management, 2, 1–10.
Riefler, P. (2020). Local versus global food consumption: The role of brand authenticity. Journal of Consumer Marketing, 37(3), 317–327. https://doi.org/10.1108/JCM-02-2019-3086
Rostamkalaei, A., & Freel, M. (2016). The cost of growth: Small firms and the pricing of bank loans. Small Business Economics, 46, 255–272. https://doi.org/10.1007/s11187-015-9681-x
Sari, D., & Aisah, N. (2025). Dampak good corporate governance pada kinerja keuangan sebagai kunci kesuksesan perusahaan perbankan. Bisnis-Net Jurnal Ekonomi dan Bisnis, 8(1), 33–47. https://doi.org/10.46576/bn.v8i1.5642
Schweizer, R., Vahlne, J.-E., & Johanson, J. (2010). Internationalization as an entrepreneurial process. Journal of International Entrepreneurship, 8(4), 343–370. https://doi.org/10.1007/s10843-010-0064-8
Sharma, S., Deshmukh, A., & Kumar, Y. (2025). Strategic insights into QSR marketing and operations: Case studies and best practices. International Journal for Multidisciplinary Research. https://doi.org/10.36948/ijfmr.2025.v07i01.34934
Sharma, S., Devi, K., Naidu, S., Greig, T., Singh, G., & Slack, N. (2023). From brick and mortar to click and order: consumers' online food delivery service perceptions post-pandemic. British Food Journal, 125(11), 4143-4162.
Shin, H., Song, H., & Kang, K. (2024). The moderating effect of interest rates on the relationship between ESG and firm performance in the US restaurant industry. Journal of Sustainable Tourism. https://doi.org/10.1080/09669582.2024.2382427
Steinbach, S. (2021). Exchange rate volatility and global food supply chains. SSRN Electronic Journal. https://doi.org/10.3386/w29164
Stephens, J., Miller, H., & Militello, L. (2020). Food delivery apps and the negative health impacts for Americans. Frontiers in Nutrition, 7, 14. https://doi.org/10.3389/fnut.2020.00014
Su, D., Nguyen, N., Nguyen, L., Luu, T., & Nguyen-Phuoc, D. (2022). Modeling consumers’ trust in mobile food delivery apps: Perspectives of technology acceptance model, mobile service quality and personalization–privacy theory. Journal of Hospitality Marketing & Management, 31(4), 535–569. https://doi.org/10.1080/19368623.2022.2020199
Sukarno, A., Yacobus, A., & Satmoko, A. (2023). Financial ratio analysis in predicting financial distress at tourism companies, restaurants, and hotels listed on the Indonesia Stock Exchange (IDX) 2021. Jurnal Ilmu Keuangan dan Perbankan (JIKA), 12(2), 145–157. https://doi.org/10.34010/jika.v12i2.8994
Syaiful, S. (2025). Decision analysis of dividend distribution versus share buyback in shareholder value strategy. Advances in Management & Financial Reporting, 3(1), 1–12. https://doi.org/10.60079/amfr.v3i1.433
Tenriawaru, A., Amir, A., & Syam, S. (2023). The effect of food price volatility (FPV) on inflation in Parepare City. Agrisocionomics: Jurnal Sosial Ekonomi Pertanian, 8(1), 49–57. https://doi.org/10.14710/agrisocionomics.v8i1.18081
Uddin, G., Hernandez, J., Dutta, A., Kang, S., & Yoon, S. (2020). Impact of food price volatility on the US restaurant sector. Applied Economics, 52(38), 4250–4262. https://doi.org/10.1080/00036846.2020.1733478
Utami, D., Absari, A., Tinggi, S., & Ekonomi, I. (2023). Analysis of the application of food cost control with cost–volume–profit analysis to optimize the profit of Ocean Garden Restaurant. International Journal of Economic Research and Financial Accounting (IJERFA), 1(3), 45–57. https://doi.org/10.55227/ijerfa.v1i3.36
Vahlne, J.-E., & Johanson, J. (2013). The Uppsala model on evolution of the multinational business enterprise – From internalization to coordination of networks. International Marketing Review, 30(3), 189–210. https://doi.org/10.1108/02651331311321963
Vahlne, J.-E., & Johanson, J. (2017). From internationalization to evolution: The Uppsala model at 40 years. Journal of International Business Studies, 48(9), 1087–1102. https://doi.org/10.1057/s41267-017-0107-7
Vahlne, J.-E., & Johanson, J. (2020). The Uppsala model: Networks and micro-foundations. Journal of International Business Studies, 51(1), 4–10. https://doi.org/10.1057/s41267-019-00277-x
Vahlne, J.-E., & Johanson, J. (2021). Coping with complexity by making trust an important dimension in governance and coordination. International Business Review, 30(2), 101798. https://doi.org/10.1016/j.ibusrev.2021.101798
Vahlne, J.-E., Ivarsson, I., & Johanson, J. (2011). The tortuous road to globalization for Volvo’s heavy truck business: Extending the scope of the Uppsala model. International Business Review, 20(1), 1–14. https://doi.org/10.1016/j.ibusrev.2010.05.003
Vahlne, J.-E., Schweizer, R., & Johanson, J. (2012). Overcoming the liability of outsidership—The challenge of HQ of the global firm. Journal of International Management, 18(3), 224–232. https://doi.org/10.1016/j.intman.2012.04.002
Veranda, D., Gunarto, M., & Helmi, S. (2025). The influence of influencer endorsement, content marketing and live streaming on sales turnover online shop in Palembang. Proceedings International Conference on Business, Economics & Management, 2(2), 155–164. https://doi.org/10.47747/icbem.v2i2.2594
Wahyu, D., Awanda, P., Bagus, I., & Bayangkara, K. (2025). Akuntansi keberlanjutan dan pengungkapan ESG pada PT Unilever Indonesia dan PT Pertamina sebagai perusahaan pemenang ASRRAT. Journal of Business, Finance, and Economics (JBFE), 6(1), 77–90. https://doi.org/10.32585/jbfe.v6i1.6554
Wahyudi, I., M., M., & H., H. (2023). Effect of liquidity, leverage, company size, audit committee on financial distress. Journal Intelektual, 2(2), 101–112. https://doi.org/10.61635/jin.v2i2.147
Widaningsih, N., Windiyanti, N., & Rukhviyanti, N. (2025). Web-based inventory information system using agile Scrum method at CV Tunggal Putra Jaya. SISTEMASI, 14(3), 345–355. https://doi.org/10.32520/stmsi.v14i3.5253
Widianingsih, P., Eka, F., & A., A. (2025). Optimization of profit growth: The impact of debt-to-equity ratio, total assets turnover, and net profit margin on food and beverage sub-sector companies. Journal of Information Systems Engineering and Management, 10(15s), 2501. https://doi.org/10.52783/jisem.v10i15s.2501
Widyastuti, M. (2019). Analysis of liquidity, activity, leverage, financial performance and company value in food and beverage companies listed on the Indonesia Stock Exchange. International Journal of Economics and Management Studies, 6(5), 77–81. https://doi.org/10.14445/23939125/IJEMS-V6I5P109
Wingrove, C., & Urban, B. (2017). Franchised fast food brands: An empirical study of factors influencing growth. Acta Commercii, 17(1), 1–8. https://doi.org/10.4102/ac.v17i1.431
Wu, Z. (2025). Value investment analysis in quick-service restaurant industry in the US: A case study of Domino’s Pizza. SHS Web of Conferences, 218, 01016. https://doi.org/10.1051/shsconf/202521801016
Yahaya, A. (2025). Evaluating the impact of regulatory frameworks on franchise industry sustainability: Empirical evidence from Malaysia with international benchmarking. Journal of Science, Technology and Innovation Policy, 11(1). https://doi.org/10.11113/jostip.v11n1.157
Yang, F., Ye, X., Huang, W., & Zhao, X. (2023). The impacts on informal financing strategy of small and micro enterprises by interest rate risks and public health emergencies. International Entrepreneurship and Management Journal. https://doi.org/10.1007/s11365-023-00872-3
Zarantonello, L., Grappi, S., Formisano, M., & Brakus, J. (2020). Consumer-based brand equity and market share of global and local brands. International Marketing Review. https://doi.org/10.1108/imr-05-2018-0176
Zeraibi, A., Balsalobre-Lorente, D., & Murshed, M. (2021). Renewable electricity generation, technological innovation and economic growth in ASEAN-5 countries. Environmental Science and Pollution Research, 28, 51003–51021. https://doi.org/10.1007/s11356-021-14301-x
Zhu, H., Duan, L., Guo, Y., & Yu, K. (2016). FDI, economic growth and energy consumption in ASEAN-5: Evidence from panel quantile regression. Economic Modelling, 58, 237–248. https://doi.org/10.1016/j.econmod.2016.05.003
Zhu, J., Wu, Y., Liu, Z., & Costa, C. (2025). Sustainable optimization in supply chain management using machine learning. International Journal of Management Science Research, 8(1), 1–12. https://doi.org/10.53469/ijomsr.2025.08(01).01
Downloads
Published
Issue
Section
Categories
License
Copyright (c) 2025 International Journal of Health & Business Analytics
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
Authors retain copyright of their articles but grant the International Journal of Health & Business Analytics (IJHBA Press) the right of first publication.
