scholarly journals Analysis of Factors Affecting Firm Value with Intellectual Capital as Moderating Variable in Kompas 100 Companies Listed on the IDX

2021 ◽  
Vol 8 (8) ◽  
pp. 650-659
Author(s):  
Muhammad Fahriza Tampubolon ◽  
Erlina . ◽  
Khaira Amalia Fachrudin
Keyword(s):  
Firm Size ◽  
Intellectual Capital ◽  
Firm Value ◽  
Firm Growth ◽  
Stock Exchange ◽  
Secondary Data ◽  
Software Tool ◽  
Stock Company ◽  
Analytical Technique ◽  
The Relationship

The purpose of this study was to determine and examine the influence of factors that affect firm value. The factors include firm size, profitability, leverage, asset structure, liquidity, and company growth tested on companies listed in the Kompas 100 Stock Company and test whether the intellectual capital can moderate the relationship between the independent variable and the dependent variable. This research is causal research using secondary data. The population of this study is companies that are members of the Kompas 100 Stock Company listed on the Indonesia Stock Exchange from 2016 to 2019. The sampling method used is Purposive Sampling, so that there are 71 companies in 4 years of research so that 284 observations are obtained. The analytical technique used in this study is panel data regression analysis and tested for moderating with the Eviews ten software tool. The results of this study partially firm size and liquidity have a negative and insignificant effect on firm value; profitability, leverage, and firm growth have a positive and significant effect on firm value partially; and asset structure has a negative and significant effect on firm value. The intellectual capital variable does not moderate the relationship between firm size, profitability, leverage, asset structure, liquidity and firm growth on firm value. Keywords: firm size, profitability, leverage, asset structure, liquidity, firm growth, intellectual capital, firm value

scholarly journals The Influence of Intellectual Capital, Firm Size, and Firm Growth on Firm Value with Profitability as Moderating Variable on Companies That are Joined in the Jakarta Islamic Index And Listed on the Indonesia Stock Exchange 2016-2019 Period

2021 ◽  
Vol 8 (7) ◽  
pp. 296-303
Author(s):  
Aji Sugandi ◽  
Rina Br Bukit ◽  
Tarmizi .
Keyword(s):  
Firm Size ◽  
Intellectual Capital ◽  
Firm Value ◽  
Firm Growth ◽  
Stock Exchange ◽  
Secondary Data ◽  
Analysis Technique ◽  
Size Firm ◽  
Saturated Sample ◽  
The Relationship

The purpose of this study was to determine and examine the effect of intellectual capital, firm size, and firm growth on firm value in companies that are incorporated in the Jakarta Islamic Index and listed on the Indonesia Stock Exchange and test whether profitability can moderate the relationship between the independent variables and the dependent variable. This research is causal research using secondary data. The population of this study is companies that are members of the Jakarta Islamic Index listed on the Indonesia Stock Exchange from 2016 to 2019. The method of determining the sample uses a saturated sample so that a sample of 57 companies is obtained multiplied by four years of research to obtain 228 observations. The analysis technique used in this study uses panel data regression analysis and moderating test with Eviews 10 software tools. The results of this study partially intellectual capital has a negative and significant effect on firm value. Firm size has a negative and significant effect on firm value, and firm growth has a positive and significant effect on firm value. The profitability variable moderates the relationship between the influence of intellectual capital and firm size on firm value and does not moderate the relationship between the effect of firm growth on firm value. Keywords: Intellectual Capital, Firm size, Firm growth, Profitability, Firm Value.

scholarly journals PENGARUH FIRM SIZE, PROFITABILITY, FIRM AGE, FIRM GROWTH, LEVERAGE, DAN INDEPENDENT COMMISSIONER TERHADAP INTELLECTUAL CAPITAL DISCLOSURE PADA PERUSAHAAN SEKTOR KEUANGAN YANG TERDAFTAR DI BURSA EFEK INDONESIA PADA TAHUN 2012-2014

2017 ◽  
Vol 20 (2) ◽  
Author(s):  
Monica Joson ◽  
Merry Susanti
Keyword(s):  
Firm Size ◽  
Intellectual Capital ◽  
Firm Growth ◽  
Stock Exchange ◽  
Secondary Data ◽  
Financial Statement ◽  
Firm Age ◽  
Size Firm

The purpose of this study is to analyze the effect of firm size, profitability, firm age, firm growth, leverage and independent commissioner on intellectual capital disclosure of financial companies which are registered in Indonesia Stock Exchange from 2012-2014. The samples of this study are 57 companies. Secondary data are collected by learning the company’s financial statement. Collected data were processed by using SPSS for Windows 20. The result showed that firm size, firm age and independent commissioner partially influence the intellectual capital disclosure, while profitability, firm growth and leverage has no effect on intellectual capital disclosure.

scholarly journals Intellectual Capital and Its Disclosure on Firm Value

2021 ◽  
Vol 10 (1) ◽  
pp. 86-95
Author(s):  
I Nyoman Wijana Asmara Putra ◽  
Ni Made Dwi Ratnadi
Keyword(s):  
Intellectual Capital ◽  
Firm Value ◽  
Banking Industry ◽  
Positive Impact ◽  
Stock Exchange ◽  
Secondary Data ◽  
Annual Reports ◽  
Qualitative And Quantitative ◽  
Coding Scheme ◽  
Structural Capital

Intangible assets, such as information, are becoming increasingly essential to companies. Intellectual capital is another term for knowledge assets. The aim of this study is to find empirical evidence of the influence of intellectual capital and intellectual capital disclosure on firm valuation, as well as to identify the types of disclosures made by the banking industry listed on the Indonesia Stock Exchange from 2015-2019. The data used in the analysis were secondary data from annual reports. A six-way numerical coding scheme determines the disclosure item index. With 36 disclosure objects, the disclosure categories are divided into three categories: structural capital, human capital, and external capital. Content analysis and multiple linear regression are two data analysis methods. The results of the analysis show that an average of 49.91 percent is expressed in the form of a narrative, 16.44 percent is in the form of a combination of qualitative and quantitative, 7.53 percent is in the form of numbers and 1.44 items are expressed in the form of monetary units (rupiah). Meanwhile, an average of 24.33 percent of items of disclosure were not disclosed. Intellectual capital disclosure has a positive impact on firm value, while intellectual capital has no impact. According to research, investors in the banking industry consider intellectual capital disclosure when making investments.

scholarly journals MODAL INTELEKTUAL, KEPEMILIKAN INSTITUSIONAL TERHADAP PROFITABILITAS DAN NILAI PERUSAHAAN

2020 ◽  
Vol 12 (1) ◽  
pp. 15-24
Author(s):  
Nurramayuningsih Nurramayuningsih ◽  
Mujibah A. Sufyani
Keyword(s):  
Regression Analysis ◽  
Financial Performance ◽  
Intellectual Capital ◽  
Firm Value ◽  
Stock Exchange ◽  
Secondary Data ◽  
Institutional Ownership ◽  
Manufacturing Companies ◽  
Panel Data Regression ◽  
Data Regression

Knowledge and intangible assets become the important source of competitive advatage for company (knowledgw-based economy). The study aims was to investigate the effect of intellectual capital, institutional ownership to profitability and firm value. Sample used were 6 manufacturing companies of sub sectors consumer goods industry listed on the Indonesia Stock Exchange from 2012 to 2017, with purposive sampling, secondary data, and panel data regression analysis. The results indicated that simultaneous intellectual capital and institutional ownership affected financial performance. Partially intellectual capital had a positive and significant effect on financial performance, but institutional ownership did not have significant effect. Financial performance has a positive and significant effect on firm value. Intelectual capital had an important roles to increase performance and value of the firm.

scholarly journals ANALISA FAKTOR – FAKTOR YANG BERPENGARUH TERHADAP KETEPATAN WAKTU PELAPORAN KEUANGAN (STUDI EMPIRIS PADA PERUSAHAAN OTOMOTIF DAN KOMPONEN DAN TELEKOMUNIKASI YANG TERDAFTAR DI BURSA EFEK INDONESIA)

2016 ◽  
Vol 11 (2) ◽  
pp. 1
Author(s):  
Joko Suryanto ◽  
Indra Pahala
Keyword(s):  
Financial Reporting ◽  
Firm Size ◽  
Stock Exchange ◽  
Secondary Data ◽  
Financial Statements ◽  
Public Ownership ◽  
Audit Opinion ◽  
Independent Variables ◽  
Equity Ratio ◽  
The Relationship

This research aims to examine the effect of the relationship between firm size, profitability, solvency, public ownership, and the audit opinion on the timeliness of financial reporting. The dependent variable in the form of timekeeping company deliver the financial statements to the Stock Exchange. Meanwhile for the independent variables such as firm size measured by total asets of the company, profitability is measured by profit margin ratio, solvency measured by debt-to-equity ratio, public ownership is measured by the percentage of the number of shares owned by the community, and the audit opinion is measured with an unqualified opinion and otherwise unqualified. This study uses secondary data with population automotive companies and telecommunications components and annual financial statements issued on the Stock Exchange in the period 2010-2012. From the analysis conducted in this study it can be concluded that the size of the company significantly influence the timeliness of financial reporting. While profitability, solvency, public ownership, and the audit opinion does not affect the timeliness of financial reporting.   Keywords:       Company Size, Profitability, Solvency, Public Shareholding, Opinion Audit and Financial Reporting Timeliness.

scholarly journals The relationship between intellectual capital information and firms’ market value: a study from an emerging economy

2019 ◽  
Vol 24 (1) ◽  
pp. 39-51
Author(s):  
A.A. Ousama ◽  
Mashael Thaar Al-Mutairi ◽  
A.H. Fatima
Keyword(s):  
Intellectual Capital ◽  
Firm Value ◽  
Stock Exchange ◽  
Market Value ◽  
Total Sample ◽  
Emerging Economy ◽  
Annual Reports ◽  
Content Type ◽  
Knowledge Based Economy ◽  
The Relationship

Purpose The purpose of this paper is to investigate the relationship between the intellectual capital (IC) information reported in the annual reports and market value of the companies listed on the Qatar Stock Exchange. Design/methodology/approach The study is based on a panel data collected from the annual reports and Bloomberg database for six years, specifically the periods 2010-2012 and 2016-2018. The total sample consists of 252 observations. The theoretical framework was developed in reference to the resource-based theory. The regression model is based on Ohlson’s model, which has been modified by including IC information. Findings The study found that there is a significant relationship between IC information and firm market value. This finding indicates that companies report their IC to help the stakeholders (e.g. shareholders, investors) to understand the real value of the company (which includes IC values). Practical implications The shift to a knowledge-based economy (KBE) has made knowledge a driver for economic growth, and it has become more important than capital, land and labour. This shift makes IC and resources vital for companies to create wealth, value and gain competitive advantage. The State of Qatar plans to transform its economy to a KBE in its “Qatar Vision 2030”. The findings of the study show that the companies have started to depend more on IC to contribute to transforming Qatar’s economy to a KBE. Originality/value This study could be considered a pioneer study to examine the association of IC disclosure and firm value in Qatar. Furthermore, prior literature has mixed findings, which justifies further investigation of IC’s effect on market value, particularly in the emerging economy of Qatar.

Measuring the intellectual capital of Italian listed companies

2017 ◽  
Vol 18 (4) ◽  
pp. 710-732 ◽  
Author(s):  
William Forte ◽  
Jon Tucker ◽  
Gaetano Matonti ◽  
Giuseppe Nicolò
Keyword(s):  
Intellectual Capital ◽  
Firm Growth ◽  
Stock Exchange ◽  
Market Value ◽  
Investment Strategy ◽  
Sources Of Information ◽  
Content Type ◽  
Italian Context ◽  
The Impact ◽  
The Relationship

Purpose The purpose of this paper is to investigate the relationship between intellectual capital (IC), measured in terms of the market to book (MTB) ratio, and potential key determinants of IC value such as intangible assets (IA) and a range of other factors. Design/methodology/approach The study is conducted for a sample of 140 Italian corporations over the period 2009-2013. Applying a holistic market-based approach, the relationship between IC value and selected determinants from the extant literature is tested. Five hypotheses are tested using a pooled OLS regression model, while controlling for time. ROE is employed as a useful firm profitability indicator from the perspective of an equity investor. Moreover, four robustness tests are undertaken. Findings The results show that IA, profitability, leverage, industry type, auditor type, and family ownership positively affect IC value, whereas SIZE and AGE negatively affect IC value. Moreover, the findings of the robustness tests suggest that all firms, and not just knowledge-intensive business service industry firms, manage knowledge. Research limitations/implications The validity of the findings is limited to the Italian context, as the study focuses on a sample of companies listed on the Milan Stock Exchange, all of which prepare their individual financial statements according to IFRS. Further limitations are related to the use of market value in the short term, as it is influenced by market volatility. The study may allow academic researchers to investigate the impact of other non-accounting sources of information on market value within a multidisciplinary perspective. Practical implications This paper also has implications for managers and practitioners. The findings suggest that managers should not take for granted that firm growth (an increase in SIZE) alone will lead to an increase in IC value, in the absence of a consistent IC-oriented investment strategy. Managers should also avoid smoothing their IC investment as the company grows, in order to maintain a stable MTB ratio. Further, standard setters should seek to explore better means of disclosing non-accounting information relating to IC value. Originality/value This paper contributes to the IC literature as it is the first study which applies the market capitalization approach to analyze IC value determinants in the Italian context, within the framework of IFRS. The findings reveal some interesting relationships between the MTB ratio and recognized intangible investments, which are found to be insignificant in previous studies, confirming that, through the holistic effect, the MTB ratio may be a good proxy for IC.

scholarly journals Pengaruh Kepemilikan Institusional, Ukuran Dan Umur Perusahaan Terhadap Kinerja Intellectual Capital Industri Keuangan di BEI

2018 ◽  
pp. 1799
Author(s):  
Ainun Roviko ◽  
I Gusti Ngurah Agung Suaryana
Keyword(s):  
Firm Size ◽  
Intellectual Capital ◽  
Stock Exchange ◽  
Secondary Data ◽  
Sampling Technique ◽  
Institutional Ownership ◽  
Firm Age ◽  
Financial Industry ◽  
Financial Report ◽  
The Impact

Evaluate performance intellectual capital of company is an important thing because this will contribute to the company competitive advantage in the future. This study aims to obtain empirical evidence of the impact institutional ownership, firm size and firmage on intellectual capital performance financial industry listed on Indonesian Stock Exchange 2015-2017.Intellectual capital performance measured by VAICTM. This research used non- probability sampling technique with purposive sampling method and 37 company as a sample and 111 observation. Secondary data obtained from the annual financial report of the financial industry. The result of this research indicate that institutional ownership hasnot affecting the intellectual capital performance. The result of this search also indicate that firm size and firm age has a positive effect on intellectual capital performance. Keywords : Institutional ownership, size and firm age, financial industry, intellectual capital.

scholarly journals The Influence of Intellectual Capital on Firm Value towards Manufacturing Performance in Indonesia

2015 ◽  
Author(s):  
Euphrasia Susy Suhendra
Keyword(s):  
Firm Performance ◽  
Intellectual Capital ◽  
Firm Value ◽  
Structural Equation ◽  
Stock Exchange ◽  
Value Added ◽  
Secondary Data ◽  
Market Valuation ◽  
Annual Reports ◽  
Manufacturing Companies

The aim of this study is to analyse the influence of intellectual capital on firm value through firm performance (profitability, productivity, market valuation and growth). Intellectual capital is measured by using a Value Added Intellectual Coefficient (VAIC™). Firm value is measured by Tobin's Q. The financial performance consists of Return on assets (ROA), Asset turn over (ATO), Market to Book Value (MB) and Earnings per Share (EPS). Data from this study was obtained from financial statements and annual reports of manufacturing companies that are taken from the Indonesia Stock Exchange. The sample of this study is manufacturing companies listed on the Indonesia Stock Exchange during the year of 2011-2013 for 37 companies. The types of data used are secondary data in the form of annual reports by the manufacturing companies. Empirical analysis is conducted by using Structural Equation Modelling (SEM). The results of this study indicate that Intellectual capital has a significant effect on profitability, market valuation and growth. Intellectual capital does not significantly affect productivity and firm value. Market valuation significantly affects the firm value. Profitability, productivity and growth do not significantly affect firm value. Furthermore, Intellectual capital which is intervened by the firm performance has a positive effect on firm value.

scholarly journals Determinants of Profitability and Firm Value: Evidence from Indonesian Banks

2017 ◽  
Vol 7 (1) ◽  
pp. 84 ◽  
Author(s):  
Sutardjo Tui ◽  
Mahfud Nurnajamuddin ◽  
Mukhlis Sufri ◽  
Andi Nirwana
Keyword(s):  
Firm Size ◽  
Intellectual Capital ◽  
Firm Value ◽  
Banking Industry ◽  
Stock Exchange ◽  
Insignificant Effect ◽  
Firm Profitability

<div><p><em>This study aims to analyze the effect of intellectual capital, firm size and bank liquidity on profitability and firm value. The experiment was conducted in the banking industry listed in Indonesia stock exchange from 2013 to 2015 as many as 40 banks. Data were analyzed using of </em><em>Analysis of Moment Structures Ver.22</em><em>. The results showed (1) intellectual capital has a positive and significant effect on the firm profitability and firm value; (2) firm size have a positive and insignificant effect on the firm profitability and firm value; (3) liquidity has a positive and significant effect on firm profitability, but liquidity have a negative not significant effect on the firm value; and (4) the firm profitability has a positive and significant effect on firm value.</em></p></div>

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