Structural Capital Value Added Research Articles

Pengaruh Intellectual Capital terhadap Kinerja Perbankan Umum Konvensional di Indonesia

Banking is the lifeblood of the economy throughout the country, many wheels of the economy are mainly driven by banks either directly or indirectly. Banking in Indonesia plays a very important role, moreover Indonesia is a developing country in all sectors. This study aims to analyze the effect of banking performance on profitability at conventional commercial banks in Indonesia during the 2018-2022 period. The data used in this study were obtained from the Indonesia Stock Exchange (IDX) with a sample of 16 conventional commercial banks and used panel data regression analysis techniques. The results of the analysis show that Value Added Capital Employed (VACA) has a positive and significant effect on Return on Assets (ROA) and Value Added Human Capital (VAHU) has a negative and significant effect on ROA. However, the Structural Capital Value Added (STVA) variable has no significant effect on ROA at 16 conventional commercial banks in Indonesia during the study period.

THE INFLUENCE OF INTELLECTUAL CAPITAL ON THE COMPANY FINANCIAL PERFORMANCE

This research aims to determine the relationship between company intellectual capital and company performance. The company's intellectual capital is measured by three indicators, namely value added human capital (VAHU), structural capital value added (STVA), and value added physical capital (VACA). Meanwhile, company performance is measured by Return on Assets (ROA). The object of this research is the Basic Industry and Chemical Sector companies. The data used in this study is secondary data obtained from IDX for the 2017-2021 period. The research method was carried out using descriptive analysis and multiple linear regression analysis. The total research population was 65 companies. Sampling was carried out using a purposive sampling method so that only company data that met the criteria was processed. The results of this research show that STVA and VACA have a positive and significant effect on company performance, while VAHU has an insignificant negative effect.

Pengaruh Intellectual Capital Terhadap Kinerja Keuangan Perusahaan Makanan dan Minuman yang Terdaftar di Bursa Efek Indonesia

Purpose: The purpose of this study is to investigate the impact of value-added capital, value-added human capital, and structural capital value-added on the financial performance of food and beverage companies listed on the Indonesia Stock Exchange. This study's variables include independent variables such as Value Added Capital Employed (VACA), Value Added Human Capital (VAHU), and Structural Capital Value Added (STVA), as well as the dependent variable Financial Performance. Method: This quantitative study employed statistical tests on secondary data. Purposive sampling was used to select the samples. This study used 16 companies as samples over a four-year research span to collect 64 sample data units. Multiple linear regression analysis was employed in this study as an analytical method. Result: The findings revealed that there was a significant effect on financial performance from Value Added Capital Employed (VACA), Value Added Human Capital (VAHU), and Structural Capital Value Added (STVA) all at the same time, with only Value Added Capital Employed (VACA) and Structural Capital Value Added (STVA) having a significant influence. Contribution: This study suggests that companies can improve their financial performance by using their intellectual resources. Companies are expected to be able to manage their intellectual capital resources better, and efficient intellectual capital management can provide value added to support companies in improving their financial performance.

Assessing the Relationship between Company Value and Intellectual Capital Disclosure Before and During Covid-19: Evidence Indonesia IT Companies

The purpose of this research is to examine the effect of Value Added Intellectual Coefficient (VAICTM) consisting of Value Added Capital Employed (VACA), Value Added Human Capital (VAHU), Structural Capital Value Added (STVA) on firm value by Tobin's Q. The data used in this study secondary data in the form an annual IT companies report listed on the Indonesia Stock Exchange. The sample collection has done by purposive sampling method. The hypothesis testing is done using the PLS Structural Equation Model. The results showed that Structural Capital Value Added (STVA) does not have any significant effect on firm value. Meanwhile, Value Added Intellectual Coefficient (VAICTM), Value Added Capital Employed (VACA), Value Added Human Capital (VAHU) have a positive effect on firm value and there is no significant difference of IC before and during Covid-19 on firm value by Tobin's Q. The results of this study will increase understanding in assessing how intellectual capital can add value to the company, especially for the IT sector when experiencing business difficulties. It is expected that companies that invest in intellectual capital then the company will have a good effect on firm value and are expected to provide long-term benefits.

Pengaruh Value Added Capital Employed, Value Added Human Capital, dan Structural Capital Value Added Terhadap Return On Assets (ROA) pada Bank Umum Syariah di Indonesia periode 2016-2020

The purpose of this study is to determine and analyze the effect of 1)VACA to ROA 2) VAHU to ROA 3) STVA to ROA based on PSAK 19 on Islamic banks in Indonesia. The independent variables in this study are Value Added Capital Employed (VACA) (X1), Value Added Human Capital (VAHU) (X2), and and Structural Capital Value Added (STVA) (X3) and the dependent variable in this study is Return On Assets (ROA) (Y). The method in this study is a quantitative method and uses a descriptive approach. Conducted statistical tests including descriptive analysis, multiple linear analysis, classical assumption test, hypothesis testing consisting of T test and F test and determination analysis. The results in this study according to the T test or partial test stated that 1) VACA (X1) had a positive effect on ROA, 2) VAHU (X2) had a negative effect on ROA, 3) STVA (X3) had a negative effect on ROA. 4) based on the results of the analysis of the F test or simultaneous test, it is stated that VACA (X1), VAHU (X2), STVA (X3) have a positive effect on return on assets (ROA)

The Effect of Intellectual Capital on Financial Company: Empirical Study from Indonesia

This study examines: 1) The Effect of Value-Added Capital Employed (VACA) on Financial Performance. 2) Effect of value-added human capital (VAHU) on financial performance 3) Effect of Structural Capital Value Added (STVA) on Financial Performance. The population of this study is manufacturing companies listed on the Indonesia Stock Exchange from 2018 to 2022. The number of companies studied was 41. The sampling technique used was purposive. The type of sample is obtained based on predetermined criteria. The data used is quantitative data obtained in the form of numbers that can be calculated by accessing the IDX.co.id site and the official website of each company. The data analysis technique used is multiple regression analysis. The study results show that: 1) Value Added Capital Employed (VACA) positively and significantly affects financial performance. 2) Value-added human capital (VAHU) has a positive and insignificant effect on financial performance. 3) Structural Capital Value Added (STVA) positively and significantly affects financial performance.

PENGARUH ENTERPRISE RISK MANAGEMENT & INTELLECTUAL CAPITAL TERHADAP NILAI PERUSAHAAN YANG TERCANTUM DALAM INDEKS LQ45 BEI

Abstract— The Purpose of this study to determine the effect of enterprise risk management and intellectual capital on the firm value. The value of the firm is reflected in the stock price but in fact the stock price always fluctuates up and down which is unstable, including in companies that are indexed LQ45.Enterprise Risk Management measured by Enterprise Risk Disclosure Index (ERMDI),Intellectual Capital by Valued Added Human Capital (VAHU), Value Added Capital Employed (VACA),Structural Capital Value Added (STVA), and Company Value measured by Tobin’s Q. This study used secondary data obtained from the corporate official website and Indonesia Stock Exchange ( www.idx.co.id ). The sample used as many 25 companies were listed at index LQ45 IDX which selectedwith use purposive sampling method. Method of analysis used is descriptive statistic test, the classical assumption test and testing of hypothesis using SPSS version 25. Based on the result of concluding that ERM,VAHU, and VACA were Partially positive effects on the Company Value and STVA were partially have no effect on the Company Value. ERM, VAHU, VACA, STVA were Simultaneously positif effect on the Company Value.
 
 Keywords: Company Value; ERM; IC; VAIC; VAHU; VACA; STVA

Company Size and Intellectual Capital on Company Value in The Consumer Goods Industry Sector Listed on The Indonesia Stock Exchange

Firm value is an investor's perception of the company's success in improving the welfare of investors. The company's goal is to value the company with management that can be trusted by potential investors to invest in the company. High company value indicates investor confidence with increasing stock prices. This study aims to determine the effect of firm size and intellectual capital which includes Value added capital employed, Value added human capital, Structural Capital Value added on firm value. The research uses a quantitative method approach. The research sample used was 25 companies listed on the Indonesia Stock Exchange in 2018-2020 with a 3-year period of 75 samples. The research analysis method used is panel data regression using the Eviews 12 application. Based on the results of simultaneous testing, it is known that company size and intellectual capital include Value added capital employed, Value added human capital, Structural Capital Value added has an effect on firm value. Partially Value added capital employed (VACA) has a positive effect on firm value, firm size and value added human capital (VAHU), Structural Capital Value added (STVA) has no effect on firm value.
 

Pengaruh Intellectual Capital terhadap Nilai Perusahaan pada Sektor Industri Dasar dan Kimia di Bursa Efek Indonesia Tahun 2020-2022

This study aims to determine the partial or simultaneous effect of intellectual capital proxied by Value Added Capital Employed (VACA), Value Added Human Capital (VAHU), Structural Capital Value Added (STVA), on Company Value. The data used in this research is secondary data. The data source used in this study was obtained from the annual financial reports of manufacturing companies in the Chemical Basic Industry sector listed on the Indonesia Stock Exchange for the period 2020–2022, which were downloaded from the Indonesia Stock Exchange website, namely www.idx.co.id, which will then be processed using SPSS software version 26. The population used in this study are all manufacturing companies listed on the Indonesia Stock Exchange (IDX) for the period 2020–2022. The test results show that Value Added Capital Employed (VACA) has a positive and significant influence on firm value. Value Added Human Capital (VAHU) has a positive and significant effect on firm value. Structural Capital Value Added (STVA) has no effect on firm value. Value Added Capital Employed (VACA), Value Added Human Capital (VAHU), and Structural Capital Value Added (STVA) simultaneously have a significant effect on firm value.

Pengaruh Intellectual Capital Terhadap Profitabilitas Dalam Perspektif Syariah

The stability of the company's operating system is an essential assessment of excellence in maintaining the company's economy. The success of a company can be seen from the profitability ratio. This research aims to show the effect of intellectual capital factors on profitability from a sharia perspective. This type of research is descriptive quantitative using panel data regression. The research population is manufacturing companies listed on the Indonesia Stock Exchange (IDX) for the 2016-2020 period. The sampling technique used purposive sampling in order to obtain 50 observational data. The results showed that value-added capital employed (VACA) negatively and significantly affected profitability. Value-added human capital (VAHU) and structural capital value added (STVA) positively and significantly affect profitability. Simultaneously intellectual capital has a significant effect on profitability. Activities and ways of managing companies related to intellectual capital and profitability follow sharia principles. This research can be used as a reference in evaluating aspects of intellectual capital in order to be able to make an optimal contribution to company performance following sharia principles.

Influence of Intellectual Capital and Corporate Governance on Company Financial Performance: Study on Mining Sector Companies Listed on The Indonesia Stock Exchange for 2016-2020 Period

This study aims to determine the effect of intellectual capital and corporate governance on the company's financial performance. Intellectual capital measurement uses three independent variables, namely Value Added Capital Employed (VACA), Value Added Human Capital (VAHU), and Value Added Structural Capital (STVA), while corporate governance is proxied by institutional ownership, foreign ownership, and the proportion of independent commissioners, to the company's financial performance is proxied by the Return of Assets (ROA). The study was conducted on mining sector companies listed on the Indonesia Stock Exchange for the 2016-2020 period. By using purposive sampling method, obtained a sample of 10 companies. The results showed that Value Added Capital Employed (VACA), Structural Capital Value Added (STVA), and institutional ownership had an effect on the company's financial performance, while Value Added Human Capital (VAHU), and the proportion of independent commissioners had no significant effect on financial performance.

THE INFLUENCE OF INTELLECTUAL CAPITAL ON COMPANY VALUE WITH PROFITABILITY AS A MODERATION VARIABLE

This aim is to investigate the impact of Intellectual Capital on Company Value by considering the Profitability factor as a moderator variable in Hospitality Sub-Sector Companies during the 2012-2016 period. The independent variables in this study were measured using VAICTM which was approximated by Value Added Capital Employed (VACA), Value Added Human Capital (VAHU), and Structural Capital Value Added (STVA). The dependent variable in this research is Company Value which is measured through PBV, while the moderating variable is Profitability which is measured by Return On Assets (ROA). Data analysis was carried out using Multiple Regression and Moderating Regression Analysis (MRA) techniques using the SPSS for Windows 16.0 program. The results of this research reveal that (1) Intellectual Capital (VAICTM) does not have a significant negative impact on Company Value (PBV). From the t test results, VACA has no partial and insignificant positive effect on PBV. VAHU does not have a partial and significant negative effect on PBV. STVA has no partial and insignificant positive effect on PBV. (2) Return on Assets (ROA) has a negative effect in moderating the relationship between Intellectual Capital and Company Value

The effect of intellectual capital, dividend policy, and capital structure on financial performance (Study in food and beverage subsector listed on the Indonesia Stock Exchange 2010-2020 period)

This study aims to determine the effect of intellectual capital with components consisting of VACA, VAHU and STVA, dividend policy and capital structure on financial performance. In the era of industrial globalization, the company's ability to become a benchmark to describe the company's financial condition. The importance of financial performance is to see how the company achieves its goals to gain profits and prosper the company's economy. Based on the results of previous studies, there are inconsistencies in proving variables that can affect financial performance. This study uses secondary data from the food and beverage sub-sector population listed on the IDX for 2010-2020. The method used in this study uses purposive sampling and multiple linear regression models to test the effect of the independent variable on the dependent variable. Based on the research results, the independent variables that significantly positively affect financial performance are STVA (Structural Capital Value Added) and DPR (Dividend Payout Ratio). In contrast, the variable that has a significant but negative or opposite effect is LDER (Long Debt Equity Ratio). Variables VACA (Value Added Capital Employed) and VAHU (Value Added Human Capital) do not affect financial performance. This study suggests using a broader object and not only focusing on the food and beverages subsector.

Intellectual Capital Analysis in Improving Profitability of Islamic Banking in Indonesia

This research aims to test intellectual capital improvingthe profitability of Islamic banking in Indonesia from 2015 to 2019. The dependent variable in the study was the profitability of Islamic banking, consisting of Return on Asset (ROA). In contrast, the independent variable in the study was Intellectual Capital (VAIC), consisting ofValueAdded Capital Employed (VACA), Value Added Human Capital (VAHU), and Structural Capital Value Added (STVA). This research emphasizes the importance of intellectual capital disclosure in financial statements to improve financial performance. The data used is Islamic bank data registered with the Financial Services Authorityfrom 2015to 2019. Intellectual Capital's measurement model uses Pulic Models, namely VAIC, VACA, STVA, and VAHU. Data is analyzed descriptively quantitatively with multiple linear regression analysis tools. The results showed thatVACA and STVA positively affect ROA in Islamic banks in Indonesia, and VAIC and VAHU have a significant adverse effect on ROA in Indonesia.

PENGARUH INTELLECTUAL CAPITAL DAN GOOD CORPORATE GOVERNANCE TERHADAP PROFITABILITAS PERUSAHAAN PERBANKAN YANG TERDAFTAR DI BEI PERIODE 2017-2019

The population in this research were all banking companies listed on the Indonesia Stock Exchange for the 2017-2019 period, amounting to 43 companies. In this research, the sampling technique was carried out using a purposive sampling method, with a total sample of 28 banking companies during 2017-2019. This research uses multiple linear regression analysis. The results of this research indicate that Value Added Capital Employed (VACA) and Value Added Human Capital (VAHU) have no significant effect on company profitability. Meanwhile, Structural Capital Value Added (STVA), Board of Directors, Board of Independent Commissioners, Managerial Ownership, and Institutional Ownership have a positive and significant impact on the profitability of banking companies. Value Added Capital Employed (VACA), Value Added Human Capital (VAHU), Structural Capital Value Added (STVA), Board of Directors, Board of Independent Commissioners, Institutional Ownership, and Managerial Ownership simultaneously have a positive and significant impact on the profitability of banking companies.

PENGARUH INTELLECTUAL CAPITAL DAN KEBIJAKAN DIVIDEN TERHADAP KUALITAS LABA PADA PERUSAHAAN FARMASI YANG TERDAFTAR DI BURSA EFEK INDONESIA

This study aims to determine and analyze the effect of intellectual capital and dividend policy on the earnings quality on pharmaceutical companies listed on Indonesia stock exchange. Determination of the sample used in this study is a purposive sampling technique totaling 5 (five) companies with seven years observation period and the data used is sourced from the annual report of pharmaceutical companies through the website www.idx.co.id. The data analysis method used in this research is multiple linear regression analysis. The result of research that partially intellectual capital with the indicator Value Added Capital Employed (VACA) has negative and insignificant effect on earnings quality, intellectual capital with the indicator Structural Capital Value Added (STVA) has negative effect and significant effect on earnings quality, dividend policy as measured by Dividend Payout Ratio (DPR) has positive and significant effect on earnings quality. The results of subsequent tests showed that VACA, STVA and DPR simultaneously had significant effect on the earnings quality on pharmaceutical companies listed on Indonesia stock exchange for the period 2014-2020.

Harga saham ditinjau dari intellectual capital dan competitive advantage: Studi pada perusahaan otomotif dan komponen terdaftar di Bursa Efek Indonesia

The research aims to analyze the effect of intellectual capital consisting of Value Added Capital Employee (VACA), Value Added Human Capital (VAHU), Structural Capital Value Added (STVA) and competitive advantage on stock prices. The population in this study are all automotive and component sub-sector companies listed on the Indonesia Stock Exchange in 2021. The research data is secondary data with an observation period of 4 years. The sampling method used is purposive sampling, where from all automotive and component companies listed on the IDX, 12 companies are taken that publish financial statements and earn profits continuously for the 2016-2019 period. The data analysis method used is panel data regression then selected model is Random Effect Model. The results of this study can be concluded that stock prices can be explained or influenced by the variabels VACA, VAHU, STVA and competitive advantage of 40,95%, while the remaining amount is explained or influenced by other variabels outside the model. The results of this study partially VACA and competitive advantage have no effect on stock prices, VAHU has a positive and significant effect on stock price, STVA has a negative and significant effect on stock price.

Relationship between Intellectual Capital and Corporate Profitability

This study aims to empirically evaluate the partial effect of Intellectual Capital Profitability. This research is quantitative, with hypotheses derived using the Resources-Based Theory and supported by prior studies employing the same variables. Listed Property and Real Estate Companies on the Indonesia Stock Exchange are the focus of this study. Value Added Capital Employed (VACA), Value Added Human Capital (VAHU), Structural Capital Value Added (STVA), and Profitability are research variables (ROI). The data utilized is secondary data published in the company's financial statements. 168 samples were collected from 42 property and real estate companies on the Indonesia Stock Exchange. Data analysis utilizing descriptive statistical techniques and panel data regression with the assistance of eviews. In addition, to maintain the normality of the data, the Classical Assumption test is employed in this study. The findings indicated that Intellectual Capital with VACA, VAHU, and STVA assessments positively and statistically significant impact on Profitability (ROI) in Property and Real Estate companies listed on the Indonesia Stock Exchange. The profitability of the company can be increased by optimizing Intellectual Capital. Intellectual Capital that cannot be optimized will have a negative impact on the company's profitability.

Analysis of the Effect of Intellectual Capital on Financial Performance, Revenue Growth, and Value of Manufacturing Companies on the Indonesia Stock Exchange 2016-2019

The concept of intellectual capital has a goal that leads to the control and management of the company (Mouritsen et al., 2001) with the perspective of improving organizational performance, creating a competitive advantage of the company (Khalique et al., 2011) which can differentiate itself from competitors in today's modern economic era (Bhasin, 2008) which also leads to long-term profits (Jordão & de Almeida, 2017). The measurement of the impact of intellectual capital management that is most widely used is developed by (Pulic, 1998), VAICTM (Value Added Intellectual Coefficient) to measure the extent to which the company generates an added value based on the efficiency of intellectual capital that is supported and influenced by the relationship between value-added to physical capital, human capital and structural capital. This research is causal research that aims to analyze the causal relationship between the independent variable and the dependent variable. The independent variable in this study is intellectual capital as measured by the Value-Added Intellectual Coefficient (VAICTM) which is the sum of three influential resources, namely Value-Added Human Capital (VAHU), Value Added Capital Employee (VACA), and Structural Capital Value Added (STVA). The dependent variable in this study is the company's performance as measured by Return on Assets (ROA), company growth is measured by Growth Revenue, and company value is measured by Tobin's Q. Based on the results of the study, it can be concluded that intellectual capital has no significant positive effect on the company's financial performance. manufacturing on the Indonesia Stock Exchange in 2016-2019, because the manufacturing industry is included in the category of low-IC intensive industries (not dense intellectual capital) where operational activities are still dominated by the use of many fixed assets compared to intellectual capital and initial management of intellectual capital which is still considered as costs and have not shown results that affect the company's financial performance.

PENGARUH INTELLECTUAL CAPITAL TERHADAP RETURN ON ASSETS

Return on Assets is one of the indicators that can be used to measure how effectively a company utilizes its assets to generate profits and achieve competitive advantage in its performance. The Resources-Based Theory explains that the use of resources effectively and efficiently can be a competitive advantage for a company. Intellectual capital is a resource in the form of intangible assets that are believed to be able to create added value for an entity through the Value Added Intellectual Capital (VAIC™) method. Therefore, this study aims to determine the effect of Intellectual Capital as proxy for Value Added Capital Employed (VACA), Value Added Human Capital (VAHU), and Structural Capital Value Added (STVA) on Return on Assets (ROA). This research is in the form of quantitative research using descriptive statistical analysis methods and panel data regression analysis with secondary data sources and samples from mining sector companies listed on the Indonesia Stock Exchange for the 2017-2020 period. The results showed that simultaneously VACA, VAHU and STVA had a significant effect on ROA. However, partially VACA showed a significant negative effect on ROA, VAHU had a significant positive effect on ROA, and STVA did not have a significant effect on ROA.