KINERJA KEUANGAN SEBAGAI PEMEDIASI: ANALISIS PENGARUH INTELLECTUAL CAPITAL DAN GCG TERHADAP NILAI PERUSAHAAN

Abstract

This research aimed to examine the effect of intellectual capital and GCG (independent commissioner, audit committe, institutional ownership, and managerial ownership) on the firm value through its financial performance. The population was agricultural company which were listed on IDX 2014-2017. While, the data collection technique used purposive sampling. In line with, due to 2 determined criteria, there were 16 companies out of 80 firm years as sample. Furthermore, the data analysis technique used multiple linear regression with SPSS 23. From the direct effect, it concluded intellectual capital and institutional ownership had positive and significant effect on the financial performance. Moreover, managerial ownership had positive but insignificant effect on the financial performance. On the other hand, independent commissioner and audit committee gave negative and insignificant effect on the firm value. Besides, audit committee and institutional ownership had positive but insignificant effect on the firm value. In addition, independent commissioner and managerial ownership had negative and insignificant effect on the firm value. In bried, from the indirect effect, it concluded the financial performance could mediate the effect of GCG on the firm value. Meanwhile, the effect of intellectual capital on the firm value could not be mediated by the financial performance.
Keywords: Intellectual Capital, Good Corporate Governance, Financial Performance, Firm Value