Modal Intelektual (Intellectual Capital) dan Nilai Perusahaan Pada Industri Manufaktur

Information about company value and intellectual capital is important information to be known by investors. This research aimed to find out the influence of intellectual capital against the value of the company's of manufacturing companies listed on the Indonesia stock exchange year 2014 – 2017. This type of research is quantitative research. This population includes all manufacturing companies listed on the Indonesia stock exchange and obtained samples of as many as 17 companies. Based on the results of research, partially Value Added Capital Employed (VACA) and Value Added Intellectual Coefficient (VAIC) have an effect on company value (Tobin's Q). Value Added Human Capital (VAHU) and Value Added Structural Capital (STVA) have no effect on company value (Tobin's Q). Based on the suitability test of Value Added Capital Employed (VACA) models, Value Added Human Capital (VAHU), Value Added Structural Capital (STVA), and Intellectual Capital were proxied by Value Added Intellectual Coefficient (VAIC) simultaneously has an effect on Company Value (Tobin's Q). From the result of this research, investors in order to make intellectual capital as a consideration before making investment decisions because better company value will show better growth prospects so as to provide prosperity for investors and shareholders.

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Intellectual capital and Tobin’s Q as measures of bank performance

Accounting ◽

10.5267/j.ac.2021.4.029 ◽

2021 ◽

Vol 7 (7) ◽

pp. 1695-1700

Author(s):

Esra A. Al Nsour ◽

Ahmad A. Al Dahiyat ◽

Sulaiman Weshah

Keyword(s):

Human Capital ◽

Financial Performance ◽

Intellectual Capital ◽

Value Creation ◽

Stock Exchange ◽

Value Added ◽

Tobin’S Q ◽

Tobin's Q ◽

Amman Stock Exchange ◽

Capital Efficiency

This paper aims at examining the effect of the Value Added by Intellectual Capital (VAIC) in terms of its three components: capital employed efficiency, human capital efficiency, and structure capital efficiency on the financial performance of commercial banks listed on the Amman Stock Exchange for the period 2010–2018.Value Added of Intellectual Capital (VAIC) model was used to measure the intellectual capital while Tobin’s Q ratio was used as an indicator of bank financial performance. The study has used parametric techniques like multiple linear regression and correlation coefficient, and other statistical methods to investigate its hypothesis. It was found that only human capital efficiency and capital employed efficiency had impacts on the banks’ financial performance. These results emphasize the importance of using the VAIC model to evaluate the financial performance of these banks, as well as encourage banks to make further investments in intellectual capital’s components, and concentrate on human resources to build up their knowledge, skills and capabilities, because of their greatest role in value creation.

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Pengaruh Intellectual Capital Terhadap Kinerja Keuangan Perusahaan (Studi Empiris pada Perusahaan yang Terdaftar di BEI serta Mendapatkan Penghargaan Best of The Best Companies Versi Majalah Forbes di Indonesia atas Laporan Keuangan 2015-2016)

Paediatrica Indonesiana ◽

10.24036/wra.v6i1.101936 ◽

2018 ◽

Vol 6 (1) ◽

pp. 1117

Author(s):

Karina Saraswati ◽

Erinos NR

Keyword(s):

Human Capital ◽

Intellectual Capital ◽

Stock Exchange ◽

Value Added ◽

Sampling Technique ◽

Significant Positive Effect ◽

Capital Asset ◽

Structural Capital ◽

Positive Effect ◽

Capital Value

The aims of this study to determine how much the influence about intellectual capital (VACA, VAHU, STVA) on financial performance (ROA). The population in this study were go public companies that listed in the Stock Exchange and get the Best Of The Best Companies award by Forbes magazine in Indonesia for the 2015-2016 financial statements. The sampling technique in this study was conducted by purposive sampling technique. Based on the determined criteria obtained 36 samples from 79 existing populations. This study used multiple regression analysis to see the effect of several independent variables to the dependent variable. The results of the study conclude that the Value Added Capital Asset has no effect on ROA, Value Added Human Capital has a significant positive effect on ROA, and the last is Structural Capital Value Added has a significant positive effect on ROA.Keywords: Value Added Capital Asset, Value Added Human Capital, Structural Capital Value Added, ROA

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The Value-Added Analysis of Intellectual Capital for Banking Financial Performance

Agregat Jurnal Ekonomi dan Bisnis ◽

10.22236/agregat_vol3/is1pp17-24 ◽

2019 ◽

Vol 3 (1) ◽

pp. 17

Author(s):

Tupi Setyowati ◽

Jamilah Jamilah

Keyword(s):

Human Capital ◽

Financial Performance ◽

Intellectual Capital ◽

Stock Exchange ◽

Value Added ◽

Company Performance ◽

Significant Positive Effect ◽

Structural Capital ◽

Positive Effect ◽

Size Variable

This study was conducted to see how intellectual capital (IC) affects company performance (ROA)by entering the size variable in its calculations. This study also analyzes how much financial performancechanges occur as an effect of the efficiency of the use of capital employees (CEE), the efficiencyof using Structural Capital (SCE), and the partial efficiency of using Human Capital (HCE).Research was conducted on conventional banking in Indonesia for the period 2013 - 2017. Theresearch data was obtained from the official website of the Indonesia Stock Exchange (IDX). Thisstudy found that VAIC had a significant positive effect on ROA, and from the three IC components itturned out that the CEE component had the greatest influence on ROA

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Analisis Modal Intelektual Dan Kinerja Keuangan Serta Pengaruhnya Terhadap Nilai Perusahaan

10.31227/osf.io/j5e9u ◽

2019 ◽

Author(s):

Riski Wahyudi ◽

Lidya Martha

Keyword(s):

Financial Performance ◽

Intellectual Capital ◽

Firm Value ◽

Stock Exchange ◽

Value Added ◽

Financial Statements ◽

Manufacturing Companies ◽

Return On Assets ◽

Book Value ◽

Company Value

This study aims to examine the effect of intellectual capital and financial performance on the value of companies in manufacturing companies listed on the Indonesia Stock Exchange (IDX). The research population is all manufacturing companies listed on the Indonesia Stock Exchange for the period 2013 - 2017. This sample was selected using a purposive sampling method with sample criteria. Manufacturing is listed on the IDX during the end of 2017 period, Manufacturing is listed consecutively during the period 2013 - 2017, Manufacturing that uses Rupiah, Manufacturing that has complete financial statements for the period 2013 - 2017, Manufacturing that has financial data in accordance with the variables to be tested, namely Price to Book Value, Value Added Intellectual Coefficient, Return On Assets, and Manufacturing that does not has data outliers, and obtained a sample of 11 companies. The data source is the annual financial statements of manufacturing companies taken through the official website of the Indonesia Stock Exchange ( www.idx.co.id ). Testing uses panel data regression analysis with the Eviews Program tool. Intellectual capital is measured using Value Added Intellectual Coefficient (VAIC), while financial performance is measured by Return on Assets (ROA) and company value measured by Price to Book Value (PBV). The results showed that the variable intellectual capital had a negative and not significant effect on firm value, while financial performance had a positive and significant effect on firm value.

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Intellectual Capital and the Performance of Manufacturing Companies in Indonesia

JMM UNRAM - MASTER OF MANAGEMENT JOURNAL ◽

10.29303/jmm.v7i3.312 ◽

2018 ◽

Vol 7 (3) ◽

pp. 13

Author(s):

Rahmat Setiawan ◽

Budi Yuda Prawira

Keyword(s):

Human Capital ◽

Firm Performance ◽

Intellectual Capital ◽

Value Added ◽

Manufacturing Industries ◽

Manufacturing Companies ◽

Asset Return ◽

Return On Equity ◽

Structural Capital ◽

Capital Value

This study aimed at examining the effect of intellectual capital and its components covering value added capital employed, value added human capital, and structural capital value added on the firm performance. Intellectual capital was measured by using Pulic’s model, while the firm performance was measured by return on asset, return on equity, and market-to- book ratio. The samples used in this study were 103 manufacturing industries and we also investigated every subsector of the manufacturing industries including 51 basic and chemical industries, 30 miscellaneous industries, and 22 consumer goods industry listed on Indonesia Stock Exchange during the period of 2012 up to 2016. Multiple regression analysis was used to test the hypothesis. The result of the study showed that intellectual capital had a significant positive effect on return on asset, return on equity, and market-to-book intellectual capital on the firm performance in each subsector of the manufacturing industry. Value added capital employed as a component of intellectual capital was the most influential component on the firm performance. This findings indicated that a firm with great and well managed of capital employed, allowing a firm to improve their performance. Penelitian ini bertujuan untuk menguji pengaruh intellectual capital dan komponennya yang meliputi value added capital employed, value added human capital, dan structural capital value added terhadap kinerja perusahaan. Intellectual capital diukur menggunakan model Pulic, sementara kinerja perusahaan diukur dengan return on asset, return on equity, dan market-to-book ratio. Sampel yang digunakan dalam penelitian ini adalah 103 perusahaan pada industri manufaktur, dan kami juga kami meneliti masing-masing subsektor dari industri manufaktur yang meilputi 51 perusahaan pada industri dasar dan bahan kimia, 30 perusahaan pada aneka indstri, dan 22 perusahaan pada industri barang konsumsi yang terdaftar di Bursa Efek Indonesia selama jangka waktu 2012-2016. Analisis regresi berganda digunakan untuk menguji hipotesis. Hasil penelitian menunjukkan bahwa intellectual capital berpengaruh positif signifikan terhadap return on asset, return on equity, dan market-to-book ratio di semua industri. Selain itu, hasil penelitian ini juga menunjukkan bahwa tidak ada perbedaan pengaruh intellectual capital terhadap kinerja perusahaan pada masing-masing subsektor industri manufaktur. Value added capital employed yang merupakan komponen dari intellectual capital merupakan komponen yang paling berpengaruh terhadap kinerja perusahaan. Temuan ini menunjukkan bahwa perusahaan dengan modal yang besar dan dikelola dengan baik, memungkinkan perusahaan untuk meningkatkan kinerjanya.Intellectual capital, value added capital employed, value added human capital, structural capital value added, return on asset, return on equity, market-to-book ratio.

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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)

JURNAL INFORMASI, PERPAJAKAN, AKUNTANSI, DAN KEUANGAN PUBLIK ◽

10.25105/jipak.v7i2.4499 ◽

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

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.of the company-manufacturing companies using the Value Added Intellectual Capital (VAIC m). 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.

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PENGARUH MODAL INTELEKTUAL TERHADAP NILAI PERUSAHAAN STUDI KASUS PERUSAHAAN INDUSTRI TAMBANG YANG TERDAFTAR DI BURSA EFEK INDONESIA

JAZ:Jurnal Akuntansi Unihaz ◽

10.32663/jaz.v2i2.995 ◽

2019 ◽

Vol 2 (2) ◽

pp. 95

Author(s):

Milda Fitriani Nainggolan ◽

Helvoni Mahrina

Keyword(s):

Intellectual Capital ◽

Firm Value ◽

Stock Exchange ◽

Linear Regression Analysis ◽

Mining Industry ◽

Value Added ◽

Multiple Linear Regression Analysis ◽

Coefficient Of Determination ◽

Company Value ◽

Structural Capital

This study aims to determine how much influence intellectual capital has on firm value. Variable intellectual capital is measured by the pulic model (1998) "Value Added Intellectual Coefficient" (VAIC ™). Company value is measured by Price Book Value (PBV). The research sample used was a mining industry company listed on the Indonesia Stock Exchange (IDX) with the study period of 2013 - 2017. Data were collected by purposive sampling method. The sample used is 19 companies each year. The research method uses the classic assumption test, multiple linear regression analysis, t test, f test and coefficient of determination. The results showed that Value added human capital had no effect on firm value, Value added capital employed had no effect on firm value and Structural capital value added had an effect on firm value.

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The impact of the intellectual capital components on firm’s performance in emerging markets

Risk Governance and Control Financial Markets & Institutions ◽

10.22495/rgcv11i2p1 ◽

2021 ◽

Vol 11 (2) ◽

pp. 8-17

Author(s):

Noomen Chaabane

Keyword(s):

Human Capital ◽

Intellectual Capital ◽

Stock Exchange ◽

Linear Regression Analysis ◽

Value Added ◽

Multiple Linear Regression Analysis ◽

Future Research ◽

Structural Capital ◽

Stock Market Performance ◽

The Impact

The objective of this research is to review, analyse, and provide empirical evidence about the impact of the intellectual capital (IC) characteristics on the firm performance on listed 26 companies in Tunisian Stock Exchange for the years 2010–2019. 260 companies were taken as a sample of this research using the purposive sampling method. The efficiency of intellectual capital was measured using the value added intellectual coefficient (VAIC) method developed by Pulic (2000). The research method used was multiple linear regression analysis. Our empirical analysis substantiates the fundamental role of IC components in improving the financial and stock market performance of listed Tunisian companies. The results obtained on the human capital efficiency variable contribute to improving the market of Tunisian listed companies and confirm the role attributed to human capital in the knowledge economy and even the basic hypothesis of the VAIC method. Investors do not place any importance on the following variables: structural capital, human capital and the efficiency of structural capital during market valuation. Future research is suggested to use cross-country companies as the sample.

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PENGARUH INTELLECTUAL CAPITAL TERHADAP KINERJA KEUANGAN PADA BANK GO PUBLIC YANG TERDAFTAR DI BURSA EFEK INDONESIA (BEI) TAHUN 2009-2012

JRMSI - Jurnal Riset Manajemen Sains Indonesia ◽

10.21009/jrmsi.005.02.1 ◽

2014 ◽

Vol 5 (2) ◽

pp. 186-203

Author(s):

Hamidah Hamidah ◽

Dian Puspita Sari ◽

Umi Mardiyati

Keyword(s):

Human Capital ◽

Intellectual Capital ◽

Stock Exchange ◽

Panel Data Analysis ◽

Random Effect ◽

Value Added ◽

Correlation Study ◽

Return On Assets ◽

Structural Capital ◽

Capital Value

The purpose of this study is to know the effect of intellectual capital on financial performance on bank go public listed on the Indonesia Stock Exchange in 2009-2012. The sampel are several bank go public. The research method in this study uses correlation study. The research model in this study employs panel data analysis with random effect approach on model 1a and fixed effect approach on model 1b. The empirical results show that intellectual capital that proxy with Value Added Capital Employed (VACA), Value Added Human Capital (VAHU) have positive significant effect on Earning per Share (EPS) but Structural Capital Value Added (STVA) has negative and no significant effect on Earning per Share (EPS). While, Value Added Capital Employed (VACA), Value Added Human Capital (VAHU) and Structural Capital Value Added (STVA) have positive significant effect on Return On Assets (ROA). Keywords: Intellectual Capital, Value Added Capital Employed (VACA), Value Added Human Capital (VAHU), Structural Capital Value Added (STVA), Earning per Share (EPS), Return On Assets (ROA)

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DAMPAK INTELLECTUAL CAPITAL TERHADAP NILAI PASAR PERUSAHAAN DENGAN RETURN ON ASSET SEBAGAI VARIABEL INTERVENING

Jurnal Akuntansi Bisnis ◽

10.30813/jab.v11i1.1085 ◽

2018 ◽

Vol 11 (1) ◽

Author(s):

Dennis Sutandar ◽

Prima Apriwenni

Keyword(s):

Significant Influence ◽

Intellectual Capital ◽

Firm Value ◽

Stock Exchange ◽

Value Added ◽

Intangible Asset ◽

Observation Data ◽

Tobin’S Q ◽

Return On Assets ◽

Tobin's Q

Nowadays, intellectual capital become a very valuable asset on business. Intellectual Capital is an intangible asset that can create value added and competitive advatage for the company. The value added and competitive advatage will increase investors trust that can cause the raising value of the firm. Intellectual capital was measured by Vallue Added Intellectual Capital that consist of human capital, structural capital, and customer capital. The increasing profit was measured by return on asset (ROA). ROA indicates the company abilities to generate earnings (profitability). The firm value was measured by Tobin’s Q. The population in this research using a manufacturing company, especially infrastructure, utility, and transportation listed in Indonesia Stock Exchange during the period 2013-2015. Based on purposive sampling method, 19 samples were obtained, so there are 57 of observation data. The analysis techniques use are multiple linear regresion and path analysis. The result of this research showed that: (1) Intellectual capital has a positive and significant influence toward return on assets. (2) Intellectual capital has a positive and significant influence toward firm value. (3) Return on assets has a positive and significant influance on firm value. (4) Intellectual capital has a positive and significant influence toward firm value through return on assets. Keyword : Intellectual Capital, Return on Asset, Firm Value, Tobin’s Q

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