PENGARUH INTELLECTUAL CAPITAL TERHADAP KINERJA KEUANGAN PADA PERUSAHAAN LQ45 YANG TERDAFTAR DI BURSA EFEK INDONESIA

Abstract

This research aimed to analyze the effect of intellectual capital on financial performance. While, intellectual
capial was referred to Pulic (VAIC) model. Moreover, the VAIC model consists of Value Added Capital
Employed (VACA), Value Added Human Capital (VAHU) and Structural Capital Value Added (STVA). In
this research, financial performance was referred of Return On Equity (ROE). Furthermore, the population was
all companies which listed on Indonesia Stock Exchange (IDX). Additionally, the data collection technique used
purposive sampling. In line with, there were 120 data of LQ-45 companies which were listed on Indonesia Stock
Exchange (IDX) 2014-2018, as sample. The research was quantitative research. In addition, the data analysis
technique used multiple regression with SPSS (Statistical Product and Service Solution) 23. The research result
concluded (1) Value Added Capital Employed (VACA) had positive effect on Return On Equity (ROE); (2)
Value Added Human Capital (VAHU) did not affect Return On Equity (ROE); (3) Structural Capital Value
Added (STVA) had negative effect on Return On Equity (ROE), with adjusted R square of 5,4%. In addition,
the remaining of 94,6% was affected by other factors outside the research.
Keywords: intellectual capital, return on equity