Abstract
Intellectual capital is a unique resource, categorized in intangible assets, so that not all companies can replicate it. Then the intellectual capital is a key resource for the company to create value added which will further creating a competitive advantage. Intellectual capital can be used as an indicator of the success of the company's financial performance. The company is able to manage and utilize the available resources, to create added value for the company so that the company's financial performance will increase. The purpose of this study was to determine the influence of intellectual capital consists of Human Capital, Structural Capital and Customer Capital on the company's financial performance is measured by using the approach of return on assets (ROA). Sample is the banking industry, which is listed on the Indonesian Stock Exchange (IDX) period 2008 - 2012 there were 22 companies. Data is the banking industry's financial statements in the period 2008-20012 are listed in Indonesia Stock Exchange (IDX). Using multiple regression analysis, intellectual Capital measurement model is using a model Pulic (1998) i.e. Value Added Intellectual Co-efficiency (VAICTM) as well as elements of Human Capital Value Added (VAHU), Customer Value added Capital (VACA), and Structural Capital Value Added (STVA). The results showed, partially (1) Human Capital (HC) effect on the financial performance of +2.085 regression coefficient, that means the higher Human Capital (HC), the better the financial performance. (2) Customer Capital (CC) effect on financial performance of + 3.568 regression coefficient. It means the higher Customer Capital, the better financial performance. (3) Structure Capital (SC) effect on the financial performance of positive regression coefficient 2.064. This means that the higher the Capital Structure, the higher the company's financial performance. Simultaneously measured by the Intellectual Capital Value added efficiency (VAICTM) consists of Human Capital (HC), Customer Capital (CC) and Structure Capital (SC) significant effect on financial performance as measured by return on assets (ROA) of: ROA = 0.089 + 0.112 (HC) + 1.501 (CC) + 0.708 (SC). The Intellectual Capital component Human Capital, Customer Capital and Structural Capital affect the company's financial performance 72.20 %, while the rest is influenced by other factors.
Highlights
The financial industry is a group of companies being active in the capital markets to support the real sector of the economy
Since the early 1990s the attention of the management of intangible assets has increased dramatically ( Harrison and Sullivan, 2000), the approach used in the assessment and measurement of intangible assets is Intellectual Capital (IC) that has been the focus of attention in many fields, whether management, technology information, sociology and accounting ( Petty and Guthrie, 2000; Sullivan and Sullivan, 2000)
Formulation of the problem based on a general overview and background of the research, the formulation of the problem is: (1) How Intellectual Capital components which include Human Capital (HC), Structural Capital (SC) and Customer Capital (CC) partially affect the financial performance of the banking industry are listed in Indonesia Stock Exchange (IDX)
Summary
When this knowledge and information is a major commodity in the knowledge -based economy (knowledge economy), Companies are increasingly interested in running a business based on knowledge and technology it appears the " new economy" in principle driven by developments in information technology and science, trigger the growth of interest in intellectual capital (Petty and Guthrie , 2000). Some definitions of Intellectual Capital according to experts (1) Stewart (1997) defines Intellectual Capital is: "The sum of everything, everybody in your company gives you a competitive edge in the market palace It is intellectual material - knowledge, information, intellectual property, experience - that can be put to use to create wealth" (2) Brooking (1996) Intellectual capital is the term given to the combined intangible assets of markets, intellectual property, human - centered infrastructure - which enable the company to function" (3) OECD (1999) describes the Intellectual Capital as the economic value of two categories of intangible assets (a) Organizational (structural) Capital and (b) Human Capital. (1) How Intellectual Capital components which include Human Capital (HC), Structural Capital (SC) and Customer Capital (CC) partially affect the financial performance of the banking industry are listed in Indonesia Stock Exchange (IDX). (2) How Components of Intellectual Capital (IC) include the Human Capital (HC), Structural Capital (SC) and Customer Capital (CC) simultaneously affect the Banking Industry Financial Performance listed in Indonesia Stock Exchange. Among others: 1. The EVA and MVA models developed by Bontis et al (1999)
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