PENGARUH INTELLECTUAL CAPITAL TERHADAP NILAI PERUSAHAAN DENGAN KINERJA KEUANGAN SEBAGAI VARIABEL INTERVENING

Abstract

This research is meant to test the influence of intellectual capital to the firm value with financial performance as
the intervening variable. This research is quantitative research. The samples are 31 banking companies in 2011-
2014 periods. The sample collection technique by has been done using purposive sampling. The financial
statement of the company has been retrieved from the official website of Indonesia Stock Exchange. This research
uses path analysis. The result of this research shows that financial performance as the intervening variable is
able to show the significant influence to correlation between intellectual capital and firm value, it shows that the
value of intellectual capital is high, it will boost the value of financial performance high so that it will increase
the firm value. The intellectual capital has positive influence to financial performance, it shows that when the
company manages their intellectual resources efficiently, so that the company will give the improved result
which is shown by enhancement of financial performance. Intellectual capital has positive influence to the firm
value, it is shown by all activities of the company which ends in creation of value, ownership, and use of
intellectual resources which enable the company to achieve competitive advantage and to increase value added of
the company.
Keywords: Intellectual Capital, Financial Performance, Firm Value.