From Broadcast to Platform: Digital Business Intensity and Firm Performance

Authors

  • Hana Dhayan Accounting Department, Faculty of Economics and Business, Universitas Tanjungpura, Pontianak, Indonesia
  • Erwin Febriansyah Accounting Department, Universitas Ciputra, Jakarta, Indonesia
  • Atika Wulandari Putri Management Study Program, Faculty of Economics and Business, Universitas OSO, Pontianak, Indonesia

DOI:

https://doi.org/10.26418/apssai.v5i2.144

Keywords:

digital business intensity, digital transformation, firm performance, media industry, platform firms, streaming

Abstract

Research aims: This study examines whether digital business intensity affects accounting-based and market-based performance among media and digital platform firms.

Design/Methodology/Approach: A disclosure-based Digital Business Intensity Index (DBII) is constructed for 10 global firms observed during 2020–2024 (50 firm-year observations). Multiple linear regression tests its association with return on assets (ROA) and Tobin's Q while controlling for leverage and firm size.

Research findings: DBII is positively associated with ROA at the 10% significance level, but negatively associated with Tobin's Q at the same marginal level. Firm size and revenue scale display severe multicollinearity, supporting a parsimonious specification that retains only one scale control.

Theoretical contribution/Originality: The study introduces a replicable disclosure-based measure of digital business intensity and shows that operational performance and market valuation may diverge during a platform transition.

Practitioner/Policy implication: Managers and investors should assess digital transformation with both accounting and market measures and distinguish long-run capability building from short-run valuation corrections.

Research limitation/Implication: The small purposive sample, disclosure-based proxy, and disruption-heavy observation period limit causal and cross-sector generalization.

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Published

28-10-2025

How to Cite

Dhayan, H., Febriansyah, E., & Putri, A. W. (2025). From Broadcast to Platform: Digital Business Intensity and Firm Performance. APSSAI ACCOUNTING REVIEW, 5(2), 141–155. https://doi.org/10.26418/apssai.v5i2.144

Issue

Vol. 5 No. 2 (2025): Oktober

Section

Articles

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Copyright (c) 2025 Hana Dhana, Erwin Febriansyah, Atika Wulandari Putri

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