PENGARUH INTELLECTUAL CAPITAL TERHADAP NILAI PERUSAHAAN YANG DI MODERASI OLEH GOOD CORPORATE GOVERNANCE (GCG)

Abstract

This research aimed to find out the role of Intellectual Capital on firm value which were moderated by Good Corporate Governance (GCG). The intellectual capital was measured by VAIC and GCG was measured by Corporate Governance. The four variables namely Board of Commissioner, Audit Committee, Management, Stakeholder, and firm value, through internal controlling mechanisms, were measured by Tobin’s Q. The population was Food and Beverage companies that were listed on Indonesia Stock Exchange (IDX) from 2016 up to 2020. Moreover, the data collection technique used purposive sampling. In line with that, there were 16 companies as a sample with 80 observations. The data analysis technique used SPSS (Statistical Product and Service Solution) 25. The research result concluded that both intellectual capital and Good Corporate Governance (GCG) had a negative and significant effect on firm value. On the other hand, the result of another model showed that GCG as a moderating variable could strengthen the firm value of Food and Beverage companies that were listed on the Indonesia Stock Exchange (IDX).