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

Abstract

This research aimed to analyze the effect of intellectual capital on the firm value of commercial banks which were listed on IDX with financial performance as intervening variable. While the population was 32 banking companies with four years observation (2014-2017). Moreover, there were 128 samples. Furthermore, the data collection technique used purposive sampling. Meanwhile, financial performance, as an intervening variable, was measured by Return On Asset (ROA), Return On Equity (ROE), and Earning Per Share (EPS). In addition, the firm value was measured by Price Book Value (PBV). For the data analysis technique, it used path analysis. The research result concluded intellectual capital had positive effect on ROA. On the other hand, ROE had negative effect on EPS. In other words, the variable which had indirectly effect on the relationship between intellectual capital and firm value was the financial performance which was measured by ROA and ROE. Whereas, EPS did not affect the indirect relationship between intellectual capital on the firm value.
Keywords : intellectual capital, return on asset, earning per share, firm value