PENGARUH INTELLECTUAL CAPITAL TERHADAP KINERJA KEUANGAN (STUDI PADA PERUSAHAAN OTOMOTIF YANG TERDAFTAR DI BURSA EFEK INDONESIA)

Abstract

This research was aimed to examine the influence of intellectual capital in this matters i.e. Value Added Capital Employed (VACA), Value Added Human Capital (VAHU), and Structural Capital Value Added (STVA) to the company’s financial performance. This research was conducted at automotive company which was listed in Indonesia Stock Exchange 2011-2016 periods. The research sample was selected based on the purposive sampling technique, therefore it obtained 8 samples of automotive companies. The analysis method of this research used multiple linear regressions analysis.The result of this research showed that Value Added Capital Employed (VACA) gave positive influence to the financial performance. This showed that the company was effectively and efficiently capable to manage their financial capital in order to produce the company’s’ value added so that the financial performance increased. This research also indicated that Value Added Human Capital (VAHU) did not give any influence to the financial performance. This indicated that automotive company optimized their technology compared with its profession and skill owned by human resource to support the improvement of company’s financial performance. Moreover, this research found that Structural Capital Value Added (STVA) did not give any influence to the company’s financial performance. It showed that the capability of the company in fulfilling its company’s activity process and structure was not able to support the employees’ effort in order to produce a value added. Therefore, the company’s financial performance was not optimal and its potency was not maximally used.
Keywords: Value Added Capital Employed (VACA), Value Added Human Capital (VAHU), Structural Capital Value Added (STVA), and financial performance.