scholarly journals Intellectual Capital Disclosure, Information Asymmetry, Cost of Capital, and Firm Value: Empirical Studies on Indonesian Manufacturers

2019 ◽  
Vol 2 (1) ◽  
pp. 27-35
Author(s):  
Nadya Gomes I. Gomes I. ◽  
Hatane Semuel ◽  
Devie D.
Keyword(s):  
Information Asymmetry ◽  
Intellectual Capital ◽  
Firm Value ◽  
Cost Of Capital ◽  
Weighted Average ◽  
Partial Least Square ◽  
Least Square ◽  
Separate Analysis ◽  
Negative Effect ◽  
Positive Effect

Signaling theory suggests that when high-quality entities signal their potentials such as intellectual capital to the market, its participants (e.g., investors) re-evaluate their worth and make informed decisions therefrom. This paper examines the consequences of intellectual capital disclosures with respect to firm value, information asymmetry, and cost of capital. Voluntary intellectual capital disclosure (ICD, measured in index) affects firm value (FV, measured in Tobin’s Q) through reducing both information asymmetry (IA, measured in bid-ask spread) and cost of capital (COC, measured in weighted average cost of capital). 67 Indonesian manufacturers were purposively selected whose financial reports published in Indonesian Stock Exchange official website and Bloomberg provide the data for the research. A research model is estimated to the data through a partial least square analysis. Results provides substantial evidence on the positive effect of ICD on FV and negative effect on IA; negative effect of IA on FV; negative effect of COC on FV; and positive effect of IA on COC. On a separate analysis, IA is shown to significantly mediate the relationship between ICD and FV.

scholarly journals Effect of Managerial Ownership Of Companies Intellectual Capital Value as an intervening variable

2020 ◽  
Vol 3 (1) ◽  
pp. 28-38
Author(s):  
Rafa Izan Rafaizan ◽  
Dewi Kusuma Wardani ◽  
Anita Primastiwi
Keyword(s):  
Intellectual Capital ◽  
Firm Value ◽  
Stock Exchange ◽  
Sampling Technique ◽  
Financial Statements ◽  
Partial Least Square ◽  
Least Square ◽  
Managerial Ownership ◽  
Negative Effect ◽  
Capital Value

The purpose of this study is to analyze and explain the effect of managerial ownership on firm value to intellectual capital as an intervening variable. The object of research using 32 banking companies listed in Indonesia Stock Exchange (BEI) for the period from 2015 to 2017 but based on criteria and completeness of the data, the sample in this study only used 24 banking companies. The sampling technique used purposive sampling method. Collecting data using the financial statements of banking companies listed in Indonesia Stock Exchange for the period 2015-2017 that is downloaded via the website IDX www.idx.id. Data were analyzed using Partial Least Square (PLS). The results of this study found that managerial ownership and intellectual capital had a negative effect on firm value, managerial ownership had a negative effect on intellectual capital and managerial ownership had a negative effect on firm value through intellectual capital.

scholarly journals Capital Intelektual, Efisiensi Modal, Kebijakan Deviden, dan Nilai Perusahaan

2021 ◽  
Vol 31 (6) ◽  
pp. 1413
Author(s):  
Eka Ardiansyah
Keyword(s):  
Data Analysis ◽  
Intellectual Capital ◽  
Firm Value ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Partial Least Square ◽  
Least Square ◽  
Financial Reports ◽  
Negative Effect ◽  
Capital Efficiency

Stakeholders have a tendency to judge the company in making policies. So that in the company appraisal process, it requires consideration of the various factors that shape the value of the company itself. Therefore, the purpose of this study is to see how much influence intellectual capital, capital efficiency and dividend policy have on the value of companies that have published their financial reports on the Indonesia Stock Exchange (IDX). The total population used was 90 companies and the samples taken were 25 companies in the financial sector. The sampling method uses purposive sampling which aims to ensure that the sample taken can meet the required criteria. Data analysis using PLS (Partial Least Square) in order to be able to analyze many variables at once, data analysis with PLS is assisted by the Smart PLS application. From the research results, it is found that intellectual capital has a positive effect on firm value, while the effect of dividend policy and capital efficiency on firm value has a negative effect. Keywords: Intelectual Capital; Devidend Policy; Capital Efficiency; Corporate Value.

scholarly journals Pengaruh Intellectual Capital dan Kebijakan Dividen terhadap Nilai Perusahaan (Penelitian pada Perusahaan-Perusahaan yang Pernah Masuk ke dalam Indeks LQ45 Periode 2015-2019)

2021 ◽  
Vol 3 (1) ◽  
pp. 8-15
Author(s):  
Dede Sri Rahayu
Keyword(s):  
Normal Distribution ◽  
Intellectual Capital ◽  
Firm Value ◽  
Dividend Policy ◽  
Sampling Technique ◽  
Partial Least Square ◽  
Least Square ◽  
Verification Method ◽  
Positive Effect ◽  
Pls Method

This research aimed to provide empirical evidence regarding the effect of intellectual capital and dividend policy on firm value. This research used the verification method, namely partial least square (PLS). This research used PLS method because the data does not have a normal distribution. The population of this research were 65 companies, while the sample used 26 companies. The sampling technique used purposive sampling technique. Based on the results of this research showed that intellectual capital had a positive effect on firm value, while dividend policy had no effect on firm value. Keywords : Firm Value, Intellectual Capital, Dividend policy, LQ45 Index, Partial Least Square

scholarly journals Pengaruh Moral Wajib Pajak Orang Pribadi terhadap Persepsi atas Tax Evasion dengan Kepatuhan Wajib Pajak sebagai Variabel Mediasi

2018 ◽  
Vol 2 (2) ◽  
pp. 35-68
Author(s):  
Joe Elsa Andriyani ◽  
Riana Sitawati ◽  
Subchan Subchan
Keyword(s):  
Tax Evasion ◽  
Partial Least Square ◽  
Least Square ◽  
Negative Effect ◽  
Positive Effect

The purpose of this study is to be able to analyze the effect of moral on perception of tax evasionmediated by taxpayer compliance. Calculation of the number of research samples using Slovinformula, the sample in the study was as many as 100 questionnaires distributed directly in CentralSemarang Two Primary Tax Office with the permission of the official in charge of the Tax Office. Dataanalysis uses the WarpPLS 4.0 program with Partial Least Square (PLS) approach. The Results ofpreviois studies as follows moral has a positive effect on the compliance. Compliance has a negativeeffect on perception of tax evasion. Moral has a negative effect on perception of tax evasion.Compliance mediates the effect of moral on perception of tax evasion.

scholarly journals ENTERPRISE RISK MANAGEMENT DAN INTELLECTUAL CAPITAL DISCLOSURE : PERSPEKTIF INVESTOR

2018 ◽  
Vol 8 (2) ◽  
pp. 187 ◽  
Author(s):  
Yolanda Yolanda ◽  
Ihyaul Ulum ◽  
Setu Setyawan
Keyword(s):  
Risk Management ◽  
Intellectual Capital ◽  
Firm Value ◽  
Sampling Technique ◽  
Enterprise Risk Management ◽  
Partial Least Square ◽  
Least Square ◽  
Corporate Value ◽  
Coding System ◽  
Enterprise Risk

This paper aims to examine the effect of corporate value on investor reactions with enterprise risk management (ERM) and intellectual capital disclosure (ICD) as a mediation variable on Indonesian companies listed in the Jakarta Islamic Index in 2016. The sample of this study consists of 25 companies with purposive sampling technique. Five ways numerical coding system and Partial Least Square (PLS) are used as a tool to perform data analysis. The results show that firm value has a significant influence on investor reaction. Unlike the ERM capable of mediating the relationship between corporate value and investor reactions, ICD is unable to mediate.

scholarly journals Keputusan Investasi, Leverage, Profitabilitas, dan Ukuran Perusahaan Sebagai Faktor Penentu Nilai Perusahaan Manufaktur

2020 ◽  
Vol 19 (1) ◽  
pp. 10-23
Author(s):  
I Made Purba Astakoni ◽  
I Wayan Wardita
Keyword(s):  
Firm Value ◽  
Structural Equation ◽  
Hypothesis Test ◽  
Investment Decisions ◽  
Partial Least Square ◽  
Least Square ◽  
Equation Modeling ◽  
Test Results ◽  
Significant Positive Effect ◽  
Positive Effect

Abstract-The purpose of this study is 1) to find out and analyze the effect of investment decisions on firm value, 2) to find out and analyze the effect of leverage on firm value, 3) to find out and analyze the effect of profitability on firm value; 4) to find out and analyze the effect of company size on company value. The population in this study are cosmetics and household use manufacturing companies listed on the Indonesia Stock Exchange (IDX) for the period 2011-2018. Sampling was done purposively with predetermined criteria. The data analysis of this study uses the Partial Least Square (PLS) approach. PLS is a Structural Equation Modeling (SEM) equation model based on components or variants. Based on the hypothesis test, the first hypothesis is obtained; which states that investment decision variables have a significant positive effect on firm value is acceptable. Second hypothesis test results; which states that leverage has a significant positive effect on firm value is acceptable. Third hypothesis test results; which states profitability has a significant positive effect on firm value is acceptable. The fourth hypothesis test results; which states that company size has a significant positive effect on the value of the company can not be accepted (rejected). The result of the model accuracy test by looking at R Square Adjusted which contributed the model in explaining the structural relationship of the studied variables was 0.604 (or 60.40%). Keywords: Investment Decisions; Leverage; Profitability; Firm Size and Firm Value. Abstrak-Tujuan dari studi ini adalah 1) untuk mengetahui dan menganalisis pengaruh keputusan investasi terhadap nilai perusahaan,2) untuk mengetahui dan menganalisis pengaruh leverage terhadap nilai perusahaan, 3) untuk mengetahui dan menganalisis pengaruh profitabilitas terhadap nilai perusahaan; 4) untuk mengetahui dan menganalisis pengaruh ukuran perusahaan terhadap nilai perusahaan. Populasi dalam studi ini adalah perusahaan manufaktur sektor kosmetik dan keperluan rumah tangga yang terdaftar di Bursa Efek Indonesia (BEI) periode 2011-2018. Pengambilan sampel dilakukan secara purposive dengan kriteria yang telah ditetapkan sebelumnya. Analisis data studi ini menggunakan pendekatan Partial Least Square (PLS). PLS adalah model persamaan Structural Equation Modeling (SEM) yang berbasis komponen atau varian. Berdasarkan uji hipotesis yang dilakukan didapat hipotesis pertama ; yang menyatakan variabel keputusan investasi berpengaruh signifikan positif terhadap nilai perusahaan dapat diterima. Hasil uji hipotesis kedua ; yang menyatakan leverage berpengaruh signifikan positif terhadap nilai perusahaan dapat diterima. Hasil uji hipotesis ketiga ; yang menyatakan profitabilitas berpengaruh signifikan positif terhadap nilai perusahaan dapat diterima. Hasil uji hipotesis keempat ; yang menyatakan ukuran perusahaan berpengaruh signifikan positif terhadap nilai perusahaan tidak dapat diterima (ditolak). Hasil uji ketepatan model dengan melihat R Square Adjusted yang memberi kontribusi model dalam menjelaskan hubungan struktural variabel yang diteliti adalah sebesar 0,604 (atau 60,40%). Kata kunci: Keputusan Investasi; Leverage; Profitabilitas; Ukuran perusahaan dan Nilai perusahaan

scholarly journals THE EFFECT OF AWARENESS, SPEED OF TRANSACTIONS, SECURITY, PERCEIVED USEFULNESS WITH MEDIATION OF PERCEIVED EASE OF USE ON M-BANKING ADOPTIONS BRI MAKASSAR RAYA

2018 ◽  
Vol 8 (1) ◽  
Author(s):  
Andi Dewi Mentari ◽  
Aniek Maschudah Ilfitriah
Keyword(s):  
Sampling Technique ◽  
Ease Of Use ◽  
Partial Least Square ◽  
Perceived Usefulness ◽  
Least Square ◽  
Mobile Banking ◽  
Significant Positive Effect ◽  
Perceived Ease Of Use ◽  
Negative Effect ◽  
Positive Effect

Mobile banking is a banking facility that uses mobile communication tools such as mobile phones. Mobile banking services provide convenience for customers to perform banking transactions such as check balances, transfer between accounts and bill payments and know the history of transactions made by users. This study aims to analyze the influence of Awareness, Transaction Speed, Security, Perceived Usefulness with Perceived Ease of Use Media to Adoption of m-banking BRI Makassar Raya. The sample used in this research is customer of m-banking BRI customer in Makassar Raya. The number of samples used in the study were 100 respondents who distributed directly and using purposive sampling technique. Data analysis using smartPLS program (Partial Least Square) version 2.0. The result of the research shows that the awareness variable has negative effect not significant to BRI m-banking Adoption, Transaction Speed has a significant positive effect on BRI m-banking Adoption, Security has positive significant effect on BRI m-banking Adoption, Perceived Usefulness has no significant effect to m -banking BRI, Perceived Usefulness has a significant negative effect on Perceived Ease of Use and Perceived  Ease of Use has a significant positive effect on m-banking Adoption

scholarly journals Effect of Work Overload on Job Satisfaction Through Burnout

2021 ◽  
Vol 25 (1) ◽  
pp. 56
Author(s):  
Sofia Prima Dewi, Merry Susanti, Sufiyati, Cokki
Keyword(s):  
Job Satisfaction ◽  
Structural Equation ◽  
Partial Least Square ◽  
Least Square ◽  
Work Overload ◽  
Equation Modelling ◽  
Negative Effect ◽  
Convenience Sampling ◽  
The Relationship ◽  
Positive Effect

The current study proposes to search the relationship between work overload, burnout, and job satisfaction for lecturers. The questionnaires were distributed among 69 lecturers at the faculty of economics and business using convenience sampling. Data were processed using Partial Least Square-Structural Equation Modelling (PLS-SEM). The finding indicates that work overload has a positive effect on burnout, but work overload and burnout do not have a negative effect on job satisfaction.

scholarly journals Pengaruh Intellectual Capital Terhadap Kinerja Keuangan dan Nilai Perusahaan (Studi Pada Perusahaan Makanan dan Minuman Yang Terdaftar di BEI)

Owner ◽  
2022 ◽  
Vol 6 (1) ◽  
pp. 518-529
Author(s):  
Petrus Gani
Keyword(s):  
Financial Performance ◽  
Intellectual Capital ◽  
Sampling Method ◽  
Partial Least Square ◽  
Least Square ◽  
Significant Positive Effect ◽  
Company Value ◽  
Analysis Technique ◽  
Food And Beverage ◽  
Positive Effect

This study has objectives to analyze the influence of intellectual capital on financial performance and company value, and also examined the influence of financial performance as an intervening variable on company value. The population of the research is the manufacturing of sub- food and beverage industries listed in 2015-2019 consisted of 20 companies. This study has 12 companies as sample that chosen based on the purposive sampling method. Partial Least Square (PLS) as alternative of SEM and as data analysis technique using SmartPLS 3.3 application. The results of this study indicate that partially VAHU and STVA have a significant positive effect on financial performance. Meanwhile, VACA has no significant positive effect on financial performance. Simultaneously VAHU, STVA, and VACA have significant positive effect on financial performance. On the other side partially and simultaneously VAHU, STVA, and VACA have no directly significant positive effect on company value. But through financial performance.

EFFECT OF WORD OF MOUTH, PERCEPTION OF QUALITY AND USE OF TECHNOLOGY ON DECISIONS OF APPLICATION-BASED TRANSPORTATION USERS (Study on Muslimah Community in Purwokerto)

2021 ◽  
Vol 7 (2) ◽  
Author(s):  
Arini Hidayah ◽  
Fatmah Bagis ◽  
Mastur Mujib Ikhsani ◽  
Hermin Endratno
Keyword(s):  
Word Of Mouth ◽  
Perceived Quality ◽  
Partial Least Square ◽  
Least Square ◽  
Significant Positive Effect ◽  
Muslim Community ◽  
Use Of Technology ◽  
Partial Least Square Analysis ◽  
Negative Effect ◽  
Positive Effect

This study analyzes the effect of word of mouth, perceived quality, and use of technology on application-based transportation decisions. The method used in this research is a case study of the Muslim community in Purwokerto. Questionnaires were given to 100 respondents consisting of several members of the Muslim community in Purwokerto. The data analysis technique used is PLS (Partial Least Square) analysis using Smart PLS 3.0. The results showed that word of mouth had a significant positive effect on decisions to use application-based transportation, perceived quality had a significant positive effect on decisions to use application-based transportation, and use of technology had a negative effect on decisions to use application-based transportation.

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