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ABSTRAKPenelitian ini bertujuan untuk menguji pengaruh intellectual capital terhadap
kinerja keuangan perusahaan, pertumbuhan perusahaan dan nilai pasar
perusahaan. Dengan menggunakan model Pulic-Value Added Intellectual
Coefficients (VAIC), penelitian ini menguji hubungan antara efisiensi value added
(VAIC) dari tiga sumber daya utama perusahaan (aset fisik, human capital, dan
structural capital) dengan kinerja keuangan perusahaan (ROE, NPM),
pertumbuhan perusahaan (GR), dan nilai pasar perusahaan (MBV). Data yang
digunakan adalah perusahaan padat Intellectual Capital, yaitu perusahaan sektor
Automotive and Allied, Telekomunikasi, dan Real Estate and Property yang
terdaftar di Bursa Efek Indonesia pada tahun 2008-2010. Hasil penelitian
menunjukkan bahwa intellectual capital (VAIC) berpengaruh terhadap kinerja
keuangan perusahaan (ROE, NPM), pertumbuhan perusahaan (GR), dan nilai
pasar perusahaan(MBV). VACA berpengaruh signifikan positif terhadap Kinerja
keuangan (ROE) dan nilai pasar perusahaan (MBV), sedangkan VAHU hanya
berpengaruh terhadap kinerja keuangan (ROE,NPM)
ABSTRAKThe purpose of this study is to investigate the relation between intellectual capital,
financial performance, Corporate Growth, and fimrs market value. By using
Pulic’s- Value Added Intellectual Capital (VAIC), this research examine the
relationship between the efficiency of value added (VAIC) by three major
component of firms resources (physical asset, human capital, and structural
capital) and explore the relation between intellectual capital and financial
performance (ROE, NPM), Corporate Growth(GR), and firms market value
(MtBV). Data are drawn from corporate with High-IC Intensive that is Company
from Sector Automotive and Allied , Telecommunications, and Real Estate and
Property Listed in Indonesia stock Exchange for three years (2008-2010). The
result show that intellectual capital have a significant affect to financial
performance (ROE,NPM) , corporate growth (GR), and firms market value
(NPM). VACA affect positively the financial performance(ROE) and firms market
value (MBV),while VAHU affect positively financial performance(ROE,NPM)
only., The purpose of this study is to investigate the relation between intellectual capital,
financial performance, Corporate Growth, and fimrs market value. By using
Pulic’s- Value Added Intellectual Capital (VAIC), this research examine the
relationship between the efficiency of value added (VAIC) by three major
component of firms resources (physical asset, human capital, and structural
capital) and explore the relation between intellectual capital and financial
performance (ROE, NPM), Corporate Growth(GR), and firms market value
(MtBV). Data are drawn from corporate with High-IC Intensive that is Company
from Sector Automotive and Allied , Telecommunications, and Real Estate and
Property Listed in Indonesia stock Exchange for three years (2008-2010). The
result show that intellectual capital have a significant affect to financial
performance (ROE,NPM) , corporate growth (GR), and firms market value
(NPM). VACA affect positively the financial performance(ROE) and firms market
value (MBV),while VAHU affect positively financial performance(ROE,NPM)
only.]
