PENGARUH INTELLECTUAL CAPITAL TERHADAP NILAI PERUSAHAAN DENGAN PROFITABILITAS SEBAGAI VARIABEL INTERVENING

Abstract

This research examines the effect of intellectual capital on firm value with profitability as an intervening variable. Intellectual capital was measured by Value Added Intellectual Coefficient, firm value was measured by Price to Book Value, and profitability was measured by Return On Asset. The research applies quantitatively. The population comprises Health companies listed on the Indonesia Stock Exchange (IDX). The data collection technique used purposive sampling, in which the sample was based on the criteria given. In line with that, there were 14 Health companies in the sample. The data were taken for 5 years (2019-2023), with 70 data samples analyzed. The data analysis technique used intervening regression. The result indicates that human capital has a significantly positive effect on profitability. Capital employed has a significantly negative effect on profitability. However, structural capital has an insignificant effect on profitability. Similarly, human capital and structural capital have an insignificant effect on firm value. In contrast, capital employed and profitability have a significantly positive effect on firm value. In addition, profitability can mediate the effect of capital employed on firm value. In contrast, profitability cannot mediate the effect of human capital and structural capital on firm value.