scholarly journals PENGARUH INTELLECTUAL CAPITAL TERHADAP RETURN SAHAM PERUSAHAAN MANUFAKTUR DI INDONESIA

2020 ◽  
Vol 30 (2) ◽  
pp. 100
Author(s):  
Erlinda Pudji Setyawati ◽  
Andry Irwanto
Keyword(s):  
Human Capital ◽  
Intellectual Capital ◽  
Random Sampling ◽  
Probability Sampling ◽  
Going Concern ◽  
Structural Capital ◽  
Capital Efficiency ◽  
Sampling Probability

Introduction: Peningkatan pengenalan dan pemanfaatan intellectual capital akan membantu meningkatkan kinerja keuangan perusahaan sehingga kepercayaan stakeholder terhadap going concern turut meningkat yang dapat mempengaruhi return saham perusahaan. Methods: Populasi yang digunakan dalam penelitian ini adalah perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia tahun 2011–2013 sebanyak 131 perusahaan. Teknik pengambilan sampel pada penelitian ini menggunakan random sampling/probability sampling yaitu cara pengambilan sampel yang memberikan kesempatan yang sama kepada setiap elemen populasi untuk dijadikan sampel, dengan cara mencari ringkasan laporan keuangan setiap perusahaan manufaktur dan harga saham aktif di perdagangkan di Bursa Efek Indonesia mulai tahun 2010 hingga 2013, sehingga jumlah sampel yang diambil berdasarkan teknik sampling tersebut sebanyak 50 perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia.Results: . Dari hasil pengujian menunjukkan bahwa Capital Employed Efficiency (CEE) berpengaruh positif signifikan terhadap return saham perusahaan manufaktur di Bursa Efek Indonesia. Human Capital Efficiency (HCE) berpengaruh positif signifikan terhadap return saham perusahaan manufaktur di Bursa Efek Indonesia. Structural Capital Efficiency (SCE) berpengaruh positif tidak signifikan terhadap return saham perusahaan manufaktur di Bursa Efek Indonesia.Conclusion and suggestion: Bagi pihak perusahaan, hasil penelitianini diharapkan dapat digunakan sebagai informasi tambahan dalam pengelolaan modal intelektual perusahaan khususnya Structural Capital Efficiency (SCE) karena variabel ini tidak terbukti dapat meningkatkan return saham.

scholarly journals Intellectual Capital Terhadap Nilai Pasar Dan Kinerja Keuangan Perusahaan Dengan Value Added Intellectual Capital (Studi Pada Perusahaan Manufaktur di Bursa Efek Indonesia Tahun 2008-2011)

2019 ◽  
Vol 7 (2) ◽  
pp. 43
Author(s):  
Sofie Sofie ◽  
Ari Prihartini ◽  
Rinda Liana
Keyword(s):  
Human Capital ◽  
Intellectual Capital ◽  
Firm Value ◽  
Statistical Tests ◽  
Value Added ◽  
Market Value ◽  
Manufacturing Companies ◽  
Structural Capital ◽  
Capital Efficiency ◽  
And Performance

<p class="Style1"><em>This study aims to ident6 and analyze the effect of intellectual capital as one of the company's intangible assets to market value and financial performance<sup>.</sup>of the company-manufacturing companies using the Value Added Intellectual Capital (VAIC <sup>m</sup>). The analysis method used is multiple panels because the structure of the data used in this research is the data panel. The results of the hypothesis theory shows that the intellectual capital has significant effect on the market value and performance of the company. The three components of intellectual capital, as the physical capital efficiency, human capital and structural capital efficiency, have a positive effect on firm value and performance of companies that dproksi by ROA, ATO, ROE and OI / S. So do the results of statistical tests, except for the efficiency of the human capital and structural capital efficiency ROE against Of / S. The results show that intellectual capital is a factor that is very important and significant effect on the quality of the company which in turn directly affects firm value andfinancial performance of the company.</em></p>

scholarly journals Measuring intellectual capital efficiency: A case of football clubs in the UEFA Champion League

2020 ◽  
Vol 4 (1) ◽  
pp. 30-40
Author(s):  
Md. Jahidur Rahman ◽  
Siyan Ding
Keyword(s):  
Human Capital ◽  
Intellectual Capital ◽  
Positive Impact ◽  
Value Added ◽  
Sports Industry ◽  
Structural Capital ◽  
Football Clubs ◽  
Capital Efficiency ◽  
Almost All ◽  
Football Industry

The purpose of this study is to examine the intellectual capital efficiency of football clubs in the UEFA Champion League between 2010 and 2019. We measure the intellectual capital efficiency of each football club through Value Added Intellectual Coefficient (VAIC) method developed by Pulic (1998, 2004), Ghosh and Mondal (2009), Yalama (2013), Ozkan, Cakan, and Kayacan (2017). Using a sample of 10 football clubs from 7 countries, we find that almost all clubs use their intellectual capital efficiently with great coefficients. We also document that human capital, as the core of intellectual capital, has a positive impact on structural capital. Our finding is significant for sports managers to make strategic management of intellectual sources to create value in the football industry. It suggests that football clubs should pay more attention to intellectual capital like fan loyalty and talented players. Meanwhile, it helps the sports industry to play a great role of human capital in intellectual capital and to increase the competitive advantage of the enterprise.

scholarly journals PENGARUH INTELLECTUAL CAPITAL TERHADAP KINERJA KEUANGAN DAN NILAI PASAR PERUSAHAAN YANG LISTED DI JAKARTA ISLAMIC INDEX

2019 ◽  
Vol 16 (4) ◽  
pp. 529-535
Author(s):  
Halim Usman ◽  
Sri Wahyuni Mustafa
Keyword(s):  
Human Capital ◽  
Regression Analysis ◽  
Data Analysis ◽  
Financial Performance ◽  
Intellectual Capital ◽  
Market Value ◽  
Return On Equity ◽  
Purposive Sampling ◽  
Structural Capital ◽  
Capital Efficiency

This study aims to examine the effect of intellectual capital on financial performance and market value of the company. The intellectual capital variable uses three proxies, namely employed capital efficiency, human capital efficiency and structural capital efficiency, while the company's financial performance variable uses return on equity proxy and market to book ratio to proxy the company's market value. The object of this research is companies included in the Jakarta Islamic Index 2011-2017 period. Sampling is done by purposive sampling. The data analysis used is regression analysis to examine the effect of intellectual capital on financial performance and market value of the company. The results showed that intellectual capital had no effect on financial performance so that it affected the company's market value.   Penelitian ini bertujuan untuk menguji pengaruh intellectual capital terhadap kinerja keuangan dan nilai pasar perusahaan. Variabel intellectual capital menggunakan tiga proksi, yakni capital employed efficiency, human capital efficiency dan structural capital efficiency sedangkan untuk  variabel kinerja keuangan perusahaan menggunakan proksi return on equity dan market to book ratio untuk proksi nilai pasar perusahaan. Objek dari penelitian ini adalah perusahaan yang masuk dalam Jakarta Islamic Index periode 2011-2017. Pengambilan sampel dilakukan dengan purposive sampling. Adapun analisis data yang digunakan adalah analsis regresi untuk menguji pengaruh intellectual capital terhadap kinerja keuangan dan nilai pasar perusahaan. Hasil penelitian menunjukkan bahwa intellectual capital tidak berpengaruh terhadap kinerja keuangan sehingga namun berpengaruh terhadap nilai pasar perusahaan

The Relationship between Intellectual Capital and Banks' Productivity in Pakistan

2021 ◽  
pp. 158-169
Author(s):  
Muhammad Asim Afridi ◽  
Imran Khan ◽  
Muddassar Khan
Keyword(s):  
Human Capital ◽  
Intellectual Capital ◽  
Productivity Growth ◽  
Banking Sector ◽  
Value Added ◽  
Malmquist Productivity Index ◽  
Productivity Index ◽  
Structural Capital ◽  
Capital Efficiency ◽  
The Impact

The performance of banks has been widely researched using accounting ratios, Tobin�s Q and market returns and less emphasis has been given to productivity measures. The productivity growth of banks is captured through Malmquist Productivity Index (MPI). The study then investigates the impact of intellectual capital on the productivity of banks in Pakistan. Value-added The intellectual Coefficient (VAIC) approach is employed to examine the intellectual capital of banks. Data is obtained from annual reports of 20 banks listed on the Pakistan Stock Exchange for 10 years (2007-2016). The panel corrected standard error approach is used for estimating the panel regression model. The findings provide evidence that the VAIC, human capital efficiency (HCE) and structural capital efficiency (SCE) has a positive impact on productivity growth (MPI). On the other hand, capital employed efficiency (CEE) has no significant impact on productivity growth. The VAIC approach may be useful for the banks and policymakers in a knowledge economy to integrate the intellectual capital in the decision-making process. Our results also suggest that banks in Pakistan shall increase spending on intellectual capital particularly on human capital and structural capital to elevate the intellectual capital of banks and subsequently get benefits in terms of increased productivity Keywords: Intellectual capital; Value added intellectual coefficient (VAIC); Malmquist productivity Index; Pakistan banking sector

The impact of intellectual capital on SMEs’ performance in China

2019 ◽  
Vol 20 (4) ◽  
pp. 488-509 ◽  
Author(s):  
Jian Xu ◽  
Jingsuo Li
Keyword(s):  
Human Capital ◽  
Intellectual Capital ◽  
Manufacturing Sector ◽  
Operating Efficiency ◽  
High Tech ◽  
Relational Capital ◽  
Content Type ◽  
Structural Capital ◽  
Capital Efficiency ◽  
The Impact

Purpose The purpose of this paper is to explore and compare the extent of intellectual capital (IC) and its four components in high-tech and non-high-tech small and medium-sized enterprises (SMEs) operating in China’s manufacturing sector, and to examine the relationship between IC and the performance of high-tech and non-high-tech SMEs. Design/methodology/approach The study uses the data of 116 high-tech SMEs and 380 non-high-tech SMEs listed on the Shenzhen stock exchanges during 2012–2016. The modified value added intellectual coefficient (MVAIC) model is used incorporating four components, namely, capital employed, human capital, structural capital and relational capital. Finally, multiple regression analysis is utilized to test the proposed research hypotheses. Findings The findings of this paper reveal that there is significant difference in MVAIC between high-tech and non-high-tech SMEs. The results further indicate a positive relationship between IC and financial performance of high-tech and non-high-tech SMEs. Specifically, IC is positively associated with firms’ earnings, profitability and operating efficiency. Additionally, capital employed efficiency, human capital efficiency and structural capital efficiency are found to be the most influential value drivers for the performance of two types of SMEs while relational capital efficiency possesses less importance. Practical implications This paper will provide a valuable framework for executives, managers and policy makers in managing IC within the Chinese context. Originality/value To the best knowledge of the authors, this is the first empirical study that has been conducted on high-tech and non-high-tech SMEs in the manufacturing sector in China.

PENGARUH ELEMEN MODAL INTELEKTUAL TERHADAP HARGA SAHAM MELALUI ROA SEBAGAI VARIABEL PEMEDIASI PADA BANK BUMN

2019 ◽  
Vol 24 (2) ◽  
pp. 193-206
Author(s):  
Endika Perdana
Keyword(s):  
Human Capital ◽  
Intellectual Capital ◽  
Purposive Sampling ◽  
Structural Capital ◽  
Capital Efficiency

Intellectual capital (IC) merupakan konsep dalam menilai kinerja keuangan yang cukup berkembang dalam beberapa tahun belakangan ini. IC terdiri atas tiga elemen yaitu Human Capital Efficiency (HCE), Structural Capital Efficiendy (SCE), dan Capital Employed Efficiency (CEE). Secara umum, IC menggambarkan tentang optimalisasi penggunaan elemen sumber daya perusahaan yang terdiri atas sumber daya manusia, sumber daya struktural, dan sumber daya modal untuk menciptakan nilai tambah bagi perusahaan. Penelitian ini bertujuan untuk mengetahui pengaruh IC yang terdiri dari HCE, SCE dan CEE terhadap harga saham melalui kinerja keuangan bank (Return On Asset). Sampel penelitian ini terdiri atas bank BUMN yang terdaftar di Bursa Efek Indonesia dan dipilih secara purposive sampling. Metode statistik yang digunakan adalah analisis regresi linier berganda. Hasil penelitian menunjukkan secara simultan HCE, SCE dan CEE berpengaruh terhadap ROA. Secara parsial hanya CEE yang memengaruhi kinerja (ROA). Variabel HCE, SCE, CEE, dan ROA secara simultan berpengaruh terhadap Harga Saham. Variabel CEE memengaruhi nilai harga saham secara parsial.

scholarly journals Should Listed Banks Be Concerned with Intellectual Capital in Emerging Asian Markets? A Comparison between China and Pakistan

2019 ◽  
Vol 11 (23) ◽  
pp. 6582 ◽  
Author(s):  
Xu ◽  
Haris ◽  
Yao
Keyword(s):  
Human Capital ◽  
Intellectual Capital ◽  
Positive Impact ◽  
Value Added ◽  
Bank Performance ◽  
Bank Profitability ◽  
Structural Capital ◽  
Chinese Banks ◽  
Capital Efficiency ◽  
The Relationship

The purpose of this study is to determine and compare the relationship between intellectual capital (IC) and banks’ performance in China and Pakistan. The data are acquired from listed banks in these two countries during 2010–2018. The Value Added Intellectual Coefficient (VAIC™) method is applied as a measure of IC. The results show that capital employed efficiency (CEE) makes the highest contribution to bank performance in both countries. In addition, the profitability of listed Chinese banks is driven by structural capital efficiency (SCE), while human capital efficiency (HCE) positively affects bank profitability and productivity in Pakistan. In addition, we find that the lagged effect of IC has a positive impact on future bank profitability. This study supports greater investment in IC in order to further improve bank performance in emerging Asian markets.

scholarly journals Intellectual Capital and Islamic Banks Performance; Evidence from Indonesia and Malaysia

2016 ◽  
Vol 9 (2) ◽  
pp. 376 ◽  
Author(s):  
Rahmat Heru Setianto ◽  
Raditya Sukmana
Keyword(s):  
Human Capital ◽  
Regression Analysis ◽  
Intellectual Capital ◽  
Islamic Banks ◽  
Factors Affecting ◽  
Knowledge Based ◽  
Future Performance ◽  
Structural Capital ◽  
Strategic Plans ◽  
Capital Efficiency

<p><em>This paper aims to investigate empirically the relationship between the Intellectual Capital (IC) efficiency consist of human capital, structural capital and capital employed and Islamic banks performance in Indonesia and Malaysia. We employ independent sample t-test and regression analysis focusing on the period from 2010 to 2014. The results suggest that there are significant differences in intellectual efficiency scores, where Islamic Banks in Malaysia have exhibited better VAIC</em> <em> scores as compare to that of Islamic banks in Indonesia. While the regression analysis suggest that banks with better human capital efficiency tend to exhibit higher profitability levels. Moreover, sstructural capital is not related to Islamic bank performance. The results also suggets that capital efficiency tend to exhibit higher profitability levels both in Indonesia and Malaysia. The findings may serve as a useful input for Islamic bankers to apply knowledge based management in their respective institutions and in addressing the factors affecting IC performance in order to establish priorities and develop strategic plans, which will in turn enhance their future performance to maximize their value creation.  </em></p>

scholarly journals PENGARUH INTELLECTUAL CAPITAL DAN UKURAN PERUSAHAAN TERHADAP KINERJA KEUANGAN PERUSAHAAN

2020 ◽  
Vol 4 (1) ◽  
pp. 64
Author(s):  
Herni Kurniawati ◽  
Rosmita Rasyid ◽  
Fanny Andriani Setiawan
Keyword(s):  
Human Capital ◽  
Financial Performance ◽  
Intellectual Capital ◽  
Stock Exchange ◽  
Sampling Technique ◽  
Manufacturing Companies ◽  
Purposive Sampling ◽  
Structural Capital ◽  
Capital Efficiency ◽  
Positive Effect

Tujuan penelitian ini bertujuan untuk mengetahui dan menganalisis pengaruh intellectual capital (human capital efficiency, capital employed efficiency, structural capital efficiency) dan ukuran perusahaan terhadap kinerja keuangan perusahaan. Metode penelitian yang digunakan adalah regresi data panel dengan teknik pengambilan sampel purposive sampling yang menghasilkan jumlah sampel sebanyak 64 perusahaan yang terdaftar di Bursa Efek Indonesia (BEI). Penelitian ini dilakukan dengan menggunakan tahun pengamatan yaitu 2015-2017. Jenis data yang digunakan adalah data sekunder. Data diperoleh dari laporan keuangan yang diambil dari www.idx.com. Penelitian ini dibantu dengan program software eviews 9. Hasil penelitian ini membuktikan bahwa Intellectual capital yang diukur dengan Capital employed efficiency (VACA) berpengaruh positif signifikan terhadap kinerja keuangan perusahaan manufaktur. Pengukuran intellectual capital yang diukur dengan Human capital efficiency (VAHU) berpengaruh positif terhadap kinerja keuangan perusahaan. Pengukuran intellectual capital yang diukur structural capital efficiency yang berpengaruh positif terhadap kinerja keuangan perusahaan. Dan ukuran perusahaan manufaktur tidak berpengaruh terhadap kinerja keuangan perusahaan.  The purpose of this study aims to determine and analyze the effect of intellectual capital (human capital efficiency, capital employed efficiency, structural capital efficiency) and company size on the company's financial performance. The research method used is panel data regression with purposive sampling technique that produces a total sample of 64 companies listed on the Indonesia Stock Exchange (IDX). This research was conducted using observation years 2015-2017. The type of data used is secondary data. Data obtained from financial reports taken from www.idx.com. This research was assisted with a software eviews 9. The results of this study prove that Intellectual capital as measured by Capital employed efficiency (VACA) has a significant positive effect on the financial performance of manufacturing companies. Intellectual capital measurement as measured by Human capital efficiency (VAHU) has a positive effect on the company's financial performance. Intellectual capital measurement that is measured structural capital efficiency that affects the company's financial performance. And the size of the manufacturing company has no effect on the company's financial performance.

scholarly journals Impact of Intellectual Capital on Financial Performance of Banks in Tanzania

2015 ◽  
Vol 1 (1) ◽  
pp. 17-24 ◽  
Author(s):  
Janeth N. Isanzu
Keyword(s):  
Human Capital ◽  
Financial Performance ◽  
Intellectual Capital ◽  
Value Added ◽  
Physical Capital ◽  
Annual Reports ◽  
Balance Sheets ◽  
Structural Capital ◽  
Knowledge Based Economy ◽  
Capital Efficiency

Since the financial sector reforms took place in the last two decades, Banks in Tanzania have continued to play the major role in reshaping the economy of the nation. With the emergence of knowledge based economy many firm have changed their way of doing business instead of relying more on physical capital they have shifted to intellectual capital. This is no exception for the banks operating in developing counties Tanzania included. Many studies have been done in the area of intellectual capital and its contribution to the value of the firm. This study sets out to extend the evidence by investigating the intellectual capital of banks operating in Tanzania for the period of four years from 2010 to 2013. Annual reports, especially the profit and loss accounts and balance sheets of the selected banks have been used to obtain the data. The study uses Value Added Intellectual Capital model (VAICTM) in determining intellectual capital and its three major components like Human Capital Efficiency (HCE) Structural capital efficiency (SCE) and Capital Employed Efficiency (CEE). The results revealed that Intellectual capital has a positive relationship with financial performance of banks operating in Tanzania and also when the VAICTM was divided into its three components it was discovered that the financial performance is positively related to Human capital efficiency and Capital employed efficiency but is negatively related to Structural capital efficiency.

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