PENGARUH MODAL INTELEKTUAL TERHADAP KINERJA KEUANGAN PADA PERUSAHAAN MANUFAKTUR

Abstract

This research is meant to find out the influence of characteristic of intellectual capital element to the financial performance on the manufacturing companies which are listed in Indonesia Stock Exchange. The research data is taken from the financial statement which has been issued by Indonesia Stock Exchange in 2011-2013 periods. The method which has been used in this research is quantitative research and this research is meant to test the correlation between the efficiency of Value Added Intellectual Coefficient (VAIC) or intellectual capital which consists of three basic elements i.e.: Value Added Capital Employed (VACA), Value Added Human Capital (VAHU), and Structural Capital Value Added (STVA) and the financial performance of the company which is Return on Assets (ROA).Based on the result of the research, it shows that partially intellectual capital (VAIC), Value Added Human Capital (VAHU) and Structural Capital Value Added (STVA) do not have any significant influence to the financial performance. But, simultaneously VACA, VAHU, and STVA have an influence to the performance of the company. And VACA is the most significant indicator for VAIC and financial performance because it can run all variables in creating a better value.
Keywords: Intellectual Capital, Value Added Capital Employed (VACA), Value Added Human Capital (VAHU), Structural Capital Value Added (STVA), Return on Assets (ROA).