Abstract
Intangible asset in the form of intellectual capital becomes one of the factors that affect the performance and value of the company. Intellectual capital provides value added to the company, which encourages the production process and competitiveness. The progress of business processes has implications for the increase in company profits responded positively by the market. The intellectual capital issue is interesting to study, especially regarding its implications for company value. Intellectual capital influences the value of the company through competitive advantages that encourage the increase of company performance. The main objective of this study is to observe the effect of intellectual capital on company value. The author also hypothesized the mediating effect on the relationship, namely competitive advantage and financial performance . The study samples were taken from data on the Indonesia stock exchange, especially in the banking sector in Indonesia for the period of 2012-2015. The study results showed that there was an effect of intellectual capital on company value and that effect was mediated by competitive advantage and financial performance. Competitive advantage was also found to have an effect on company value and the relationship was mediated by company performance . Keywords : Intellectual Capital, Competitive Advantage, Company Performance, Company Value.
Highlights
Study that explores factors that influence the company's financial performance and the implications of financial performance is still an interesting subject
The regression equation test 1 showed that the R2 value was 0.234, so the company value was explained at 23.4% by the financial performance, Intellectual Capital and competitive advantage variables
The test results showed that Intellectual Capital and competitive advantage had no effect on company value
Summary
Study that explores factors that influence the company's financial performance and the implications of financial performance is still an interesting subject. Various factors that influence financial performance and it’s implications continue to be explored. The implications of financial performance were considered to increase the company value. Assets have a major influence in forming a financial statement that has implications for financial performance and affects the company value. Banking performance is important to note since banking as an intermediary institution plays an important role in the economy of a country. Company value is an indicator of the company business development
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