PENGARUH MODAL INTELEKTUAL PADA KINERJA KEUANGAN PERUSAHAAN INDEKS LQ 45 BURSA EFEK INDONESIA TAHUN 2009-2011

• Main Authors: , YUYUN LUMARISTI, , Prof. Dr. Tandelilin Eduardus, M.B.A
• Format: Theses and Dissertations NonPeerReviewed
• Published: [Yogyakarta] : Universitas Gadjah Mada 2013
• Subjects: ETD
• Online Access: https://repository.ugm.ac.id/120002/; http://etd.ugm.ac.id/index.php?mod=penelitian_detail&sub=PenelitianDetail&act=view&typ=html&buku_id=60009
• Institution: Universitas Gadjah Mada

The development of information and tecnology has driven increased interest in intellectual capital that considered as one of key instruments that leads companies to obtain competitive advantage. The purpose of this study is to examine empirically the impact of intellectual capital on company�s financial performance. Data were drawn from all the constituent companies of the LQ 45 Index of the Indonesia Stock Exchange for three years, 2009-2011. Company�s financial performance is measured using Return on Assets (ROA) and Intellectual Capital is measured using Value Added Intellectual Coefficient (VAICTM) method and its components (capital employed efficiency, human capital efficiency and structural capital efficiency). Empirical analysis is conducted using linear multiple regression analysis. The result show that intellectual capital (VAICTM) as an aggregate has significant impact on company�s financial performance, thus intellectual capital became one of important assets in company�s value creation process. However, the components of intellectual capital individually has different significant impact on company�s financial performance. The present study prove that capital employed efficiency and structural capital efficiency positively influences to company�s financial performance, but human capital has no impact on company�s financial performance.