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

Abstract

This research aimed to examine the affect of Intellectual Capital on firm value with financial performance as an intervening variable. The intellectual capital was measured by Value Added Intellectual Coefficient (VAIC™). Meanwhile the components of VAIC™ were taken from companies’ resources namely, physical capital (VACA), human capital (VAHU), and structural capital (STVA). The financial performance referred to ROA (return On Asset) as the intervening variable and firm value was measured by PBV (Price Book Value). The population was banking companies that go public and were listed on Indonesia Stock Exchange during 2017-2021. In line with that, There were 85 sampler taken. Moreover, the date analysis technique used linear regression in order to analyze the date and used path analysis in order to know the effect of the mediating variable. The result concluded that Intellectual Capital (VAIC™) had a significant effect on financial performance (ROA) and had a direct effect on firm value (PBV). In addition, financial performance (ROA) could mediate the relationship between Intellectual Capital (VAIC™) on firm value (PBV).