Intellectual Capital terhadap Nilai Perusahaan dengan Profitabilitas sebagai Variabel Intervening pada Indeks LQ45

Melani Yanti, Belliwati Kosim, Dinarossi Utami

Abstract


This research was motivated by the decline in the JCI on Indonesia Stock Exchange which occurred in line with the slowdown and pressure both globally, regionally and nationally. This study aimed to determine the effect of intellectual capital on profitability and the effect of intellectual capital on company value, either directly or indirectly. The data was collected by LQ45 company annual report documentation and the official website www.idx.co.id. The sample in this study was 155 samples using purposive sampling method. The analysis technique was path analysis which included normality test, heteroscedasticity test, multicolonierity test, autocorrelation test, R2 test, F test, and t test. The results of this study indicated that the variable value added human capital, structural capital value added, and value added capital employed together had a significant direct effect on profitability. The variables value added human capital, structural capital value added, value added capital employed and profitability together had a direct effect on firm value. The variable value added human capital indirectly affected firm value through profitability as an intervening variable. The variable structural capital value added indirectly had no effect on firm value through profitability as an intervening variable, it meant that profitability did not strengthen structural capital value added to firm value. The variable value added capital employed indirectly affected firm value through profitability as an intervening variable.

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