文章基本信息

标题：The Influence of Intellectual Capital on the Company's Financial Performance and Market Value
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作者：Anindya Ardiansari ; Siti Ridloah ; Irene Rini Demi Pangestuti 等
期刊名称：Universal Journal of Accounting and Finance
印刷版ISSN：2331-9712
电子版ISSN：2331-9720
出版年度：2021
卷号：9
期号：2
页码：217-225
DOI：10.13189/ujaf.2021.090211
语种：English
出版社：Horizon Research Publishing
摘要：The development of property and real estate companies in Indonesia is expanding. Property and real estate companies have great opportunities to further develop their companies. However, an increase in intellectual capital investment does not affect financial performance and market value. Therefore, this study aims to examine the effect of intellectual capital on financial performance and the market value of the property and real estate companies in Indonesia from 2014 to 2018. The population of this research is 56 property and real estate companies listed on the Indonesia Stock Exchange (IDX) from 2014 to 2018, then the sampling technique used is purposive sampling which results in 42 companies being studied with 210 observations. This study uses independent variables, namely Value Added Capital Employed, Value Added Human Capital, and Structural Capital Value Added as a representation of intellectual capital. The dependent variables in this study are financial performance and market value. The data analysis technique used is multiple linear regression. The results show that simultaneously intellectual capital has an effect on financial performance, but it has no significant effect on market value. Partially, only structural capital has a positive and significant effect on the company's financial performance. This study has limitations, namely, the results show that the level of influence of intellectual capital on financial performance and market value is low. Therefore, it is suggested that further research should include other variables such as corporate social responsibility and good corporate governance.
关键词：Intellectual Capital;Financial Performance;Market Value