Pengaruh Modal Intelektual terhadap Kinerja Perusahaan pada Perusahaan yang Terdaftar di Bursa Efek Indonesia

Authors

  • Adryan Virgandhie Universitas Prasetiya Mulya
  • Herlianti Rizkia Universitas Prasetiya Mulya
  • Arief Rijanto Universitas Prasetiya Mulya
  • Retno Yuliati Universitas Prasetiya Mulya

DOI:

https://doi.org/10.35384/jemp.v3i2.203

Keywords:

Kinerja perusahaan, Modal Intelektual, Kinerja Pasar, VAIC, Tobin’s Q

Abstract

Penelitian ini bertujuan untuk menguji pengaruh modal intelektual terhadap kinerja perusahaan yang ber-dasarkan pada kinerja pasar yang diukur dengan Tobin’s Q. Penelitian terdahulu yang menghubungkan modal intelektual dan Tobin’s Q masih terbatas di Indonesia. Pada penelitian ini Intellectual Capital (IC) diukur dengan VAIC (Value Added Intellectual Capital) yang memiliki tiga komponen yaitu VACA (Value Added Capital Employed), VAHU (Value Added Human Capital), dan STVA (Structural Capital Value Added). Penelitian ini menggunakan sampel perusahaan non keuangan sejumlah 220 perusahaan yang terdaftar di BEI selama periode tahun 2012-2016. Hasil penelitian menunjukan bahwa VAIC dan komponen IC berupa VACA dan VAHU berpengaruh positif terhadap kinerja perusahaan, sementara kom-ponen IC lainnya berupa STVA berpengaruh negatif terhadap kinerja perusahaan. Temuan ini dapat men-jadi masukan yang berguna bagi manajemen untuk dapat mengelola modal intelektual yang dimiliki dengan efektif dan efisien agar perusahaan mampu menciptakan keunggulan kompetitif secara berkelanju-tan. Selanjutnya, pemangku kepentingan dapat melihat kualitas dari proses perusahaan dalam menciptakan nilai tambah dan keunggulan berkompetitif.

References

Alipour, M. (2012). The effect of intellectual capi-tal on firm performance: an investigation of Iran insurance companies. Measuring Busi-ness Excellence, Vol.18 (1), 53-56.

Al-Musali, M.A.K., Ismail, K.N.I.K. (2014). Intel-lectual capital and its effect on financial per-formance of banks: Evidence from Saudi Arabia. Procedia Social and Behavioral Sci-ences 164, 201-207.

Alzoubi, N.Y. (2014). The Extent of Using Finan-cial and Non-Financial Measures in Evaluat-ing Branches Performance of Commercial Banks in Jordan A field Study According to Internal

Auditors Viewpoint. Research Jour-nal of Finance and Accounting, 4 (6), 2222-2847.

Baroroh, N. (2013). Analisis Pengaruh Modal Intel-ektual Terhadap Kinerja Keuangan Perus-ahaan Manufaktur Di Indonesia. Jurnal Dina-mika Akuntansi, 5(2), 172-182.

Belkaoui, R.A. (2003). Intellectual capital and firm performance of US multinational firmsA study of the resource-based and stakeholder views. Journal of Intellectual Capital, 4(2), 215 – 226.

Bontis, N., Keow, W.C.C., & Richardson, S. (2000). Intellectual capital and business per-formance in Malaysian industries. Journal of Intellectual Capital, 1(1), 85-100.

Chen, M.C, Cheng, S.J., & Hwang, Y. (2005). An empirical investigation of the relationship between intellectual capital and firms’ market value and financial performance. Journal of Intellectual Capital, 6(2), 85-100.

Chung, K.H ., & Pruitt, S.W. (1994). A simple ap-proximation of tobin’s q. Financial Manage-ment, 23, 70-74.

Firer, S. & Williams, M. (2003). Intellectual capital and traditional measures of corporate performance. Journal of Intellectual Capital, 4(3), 348-360.

Freeman, R.E. & Reed, D.L. (1983). Stockholders and stakeholders: a new perspective on cor-porate governance. California Management Review, 25, 88.

Gogan, L.M., Artene, A., Sarca, I., & Draghici, A. (2016). The Impact of Intellectual Capital on Organizational Performance. Procedia - So-cial and Behavioral Sciences, 221, 194 – 202.

Guthrie, J., Petty, R. (2000). Intellectual capital lit-erature review: Measurement, reporting and management. Journal of Intellectual Capital, 1(2), 155-176.

Guthrie, J., Petty, R., & Ricceri, F. (2006). The vol-untary reporting of intellectual capital: Com-paring evidence from Hong Kong and Aus-tralia. Journal of Intellectual Capital, 4(2), 254 – 271.

Hamidah, Ahmad, G.N., Aulia, R. (2015). Effect of Intellectual Capital, Capital Structure and Managerial Ownership Toward Firm Value of Manufacturing Sector Companies Listed In Indonesia Stock Exchange (IDX) Period 2010-2014. Jurnal Riset Manajemen Sains Indone-sia (JRMSI), 6(2).

Hejazi, R., Ghanbari, M., & Alipour, M. (2016). Intellectual, Human and Structural Capital Effects on Firm Performance as Measured by Tobin’s Q. 23(4). Knowledge and Process Management, 23(4), 259–273.

Lubis, A.W., Bukit, R., & Lubis, T.A.S. (2013). Pengaruh pengeluaran modal, penelitian dan pengembangan, transaksi pihak hubungan istimewa dan profitabilitas terhadap nilai perusahaan pada perusahaan manufaktur yang terdaftar di bursa efek Indonesia. Jurnal Telaah & Riset Akuntansi, 6, 1-13.

Maditinos, D., Chatzoude, D, & Theriou, C.T.G. (2011). The impact of intellectual capital on firms' market value and financial perfor-mance. Journal of Intellectual Capital, 12(1), 132 – 151.

McConnell, J.J. & Servaes, H. (1990). Additional evidence on equity ownership and coroporate value. Journal Financial Economics, 27, 595-612.

Meek, G.K. & Gray, S.J. (1988). The value added statement: an innovation for U.S. compa-nies?. Accounting Horizons, 2, 73.

Mouritsen, J. (1998), Driving growth: economic value added versus intellectual capital. Man-agement Accounting Research, 9, 461-482.

Nuryaman. (2015). “The influence of intellectual capital on the firm’s value with the financial performance as intervening variable. Procedia – Social and Behavioral Science, 211, 292-298.

Ozkan, N., Cakan, S., & Kayacan, M. (2017). Intel-lectual capital and financial performance: A study of the Turkish Banking Sector. Borsa Istanbul Review, 17(3), 190-198.

Pulic, A. (1998). “ Measuring the Performance of Intellectual Potential in Knowledge Econo-myâ€. 2nd McMaster World Congress on Measuring and Managing Intellectual Capital by the Austrian Team for Intellectual Poten-tial.

Pulic, A. (2000). “VAIC an accounting tool for Intellectual Capital managementâ€, Int. J. Technology Management, Vol. 20.

Salman, R.T., Mansor, M., Babatunde, A.D., & Tayib, M. (2012). Impact of Intellectual Cap-ital on Return on Asset in Nigerian Manufac-turing Companies. Interdisciplinary Journal of Research in Business, 2(4), 21- 30.

Sawarjuwono, T. & Kadir, A.P. (2003). Intellectual Capital: Perlakuan, Pengukuran, dan Pelaporan (Sebuah Library Research). Jurnal Akuntansi & Keuangan, 5(1), 35 – 57.

Solechan, A. (2017). Pengaruh Efisiensi Modal Intelektual Terhadap Kinerja Keuangan Pe-rusahaan Di Indonesia. Jurnal Kajian Akuntansi, 1 (1), 83-96.

Tan, H.P., Plowman, D., & Hancock, P. (2007). Intellectual capital and financial returns of companies. Journal of Intellectual Capital, 8(1), 76-95.

Ulum, I. (2009). Intellectual Capital Performance Sektor Perbankan di Indonesia. Jurnal Akuntansi dan Keuangan, 10(2), 77-84.

Downloads

Published

2021-05-03

Issue

Vol. 3 No. 2 (2017): Jurnal Ekonomi, Manajemen dan Perbankan (Journal of Economics, Management, and Banking), Volume 3 No. 2, Agustus 2017

Section

Articles

License

Authors who publish with this journal agree to the following terms:

  • Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work to acknowledge the work's authorship and initial publication in this journal.
  • Authors can enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book) with an acknowledgment of its initial publication in this journal.
  • Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) before and during submission. It can lead to productive exchanges and earlier and greater citation of published work.
Abstract Views: 752 | File Downloads: 451