[ABSTRAK Penelitian ini bertujuan untuk menguji pengaruh intellectual capital terhadapkinerja keuangan perusahaan, pertumbuhan perusahaan dan nilai pasarperusahaan. Dengan menggunakan model Pulic-Value Added IntellectualCoefficients (VAIC), penelitian ini menguji hubungan antara efisiensi value added(VAIC) dari tiga sumber daya utama perusahaan (aset fisik, human capital, danstructural capital) dengan kinerja keuangan perusahaan (ROE, NPM),pertumbuhan perusahaan (GR), dan nilai pasar perusahaan (MBV). Data yangdigunakan adalah perusahaan padat Intellectual Capital, yaitu perusahaan sektorAutomotive and Allied, Telekomunikasi, dan Real Estate and Property yangterdaftar di Bursa Efek Indonesia pada tahun 2008-2010. Hasil penelitianmenunjukkan bahwa intellectual capital (VAIC) berpengaruh terhadap kinerjakeuangan perusahaan (ROE, NPM), pertumbuhan perusahaan (GR), dan nilaipasar perusahaan(MBV). VACA berpengaruh signifikan positif terhadap Kinerjakeuangan (ROE) dan nilai pasar perusahaan (MBV), sedangkan VAHU hanyaberpengaruh terhadap kinerja keuangan (ROE,NPM) ABSTRAK The purpose of this study is to investigate the relation between intellectual capital,financial performance, Corporate Growth, and fimrs market value. By usingPulic’s- Value Added Intellectual Capital (VAIC), this research examine therelationship between the efficiency of value added (VAIC) by three majorcomponent of firms resources (physical asset, human capital, and structuralcapital) and explore the relation between intellectual capital and financialperformance (ROE, NPM), Corporate Growth(GR), and firms market value(MtBV). Data are drawn from corporate with High-IC Intensive that is Companyfrom Sector Automotive and Allied , Telecommunications, and Real Estate andProperty Listed in Indonesia stock Exchange for three years (2008-2010). Theresult show that intellectual capital have a significant affect to financialperformance (ROE,NPM) , corporate growth (GR), and firms market value(NPM). VACA affect positively the financial performance(ROE) and firms marketvalue (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 usingPulic’s- Value Added Intellectual Capital (VAIC), this research examine therelationship between the efficiency of value added (VAIC) by three majorcomponent of firms resources (physical asset, human capital, and structuralcapital) and explore the relation between intellectual capital and financialperformance (ROE, NPM), Corporate Growth(GR), and firms market value(MtBV). Data are drawn from corporate with High-IC Intensive that is Companyfrom Sector Automotive and Allied , Telecommunications, and Real Estate andProperty Listed in Indonesia stock Exchange for three years (2008-2010). Theresult show that intellectual capital have a significant affect to financialperformance (ROE,NPM) , corporate growth (GR), and firms market value(NPM). VACA affect positively the financial performance(ROE) and firms marketvalue (MBV),while VAHU affect positively financial performance(ROE,NPM)only.] |