Is it possible that intellectual Capital Affects Performance?

  • Hasbiyadi Hasbiyadi STIEM Bongaya Makassar
Keywords: Capital Structure, Good Corporate Governance, Intellectual Capital, Financial Performance, Firm Value

Abstract

The impact of capital structure, good corporate governance, and intellectual capital on financial performance and firm value is examined in this study. The impact of financial performance on the value of a company. Examine the impact of capital structure, corporate governance, and intellectual capital on a company's financial performance. There were 193 financial reports in this study, with a sample size of 62 financial reports. Purposive sampling was used as a sampling technique. SEM-PLS is the analysis method used. The findings show that capital structure, good corporate governance, and intellectual capital have a positive and significant impact on financial performance and firm value. Firm value is influenced by financial performance in a positive and significant way. Good corporate governance and intellectual capital have a small but significant impact on firm value through financial performance. Through financial performance, capital structure has a negative and insignificant effect on firm value

Downloads

Download data is not yet available.

References

Adnyani, N. P. S., Endiana, D. M., & Arizona, P. E. (2020). Pengaruh Penerapan Good Corporate Governance dan Corporate Social Responsibility terhadap Kinerja Keuangan. Jurnal Kharisma, 2(2).

Ahmad, H., Mappatompo, A., & Muslim, M. (2018). Capital Ownership Structure And Decision On Financial Market Reaction And Corporate Value. International Journal of Innovative Science and Research Technology, 3(9), 395-406.

Atmaja, L. . (2003). Manajemen Keuangan. Andi.

Brigham, E. F. a, & Houston, J. F. (2006). Dasar-Dasar Manajemen Keuangan. Salemba Empat.

Brigita, G., & Farida, L. (2017). Pengaruh Intellectual Capital terhadap Kinerja Keuangan Perusahaan. Jurnal Dinamika Akuntansi, 4(1), 1–12. https://doi.org/10.15294/jda.v4i1.1954

Chen, J., Zhu, Z., & Xie, H. Y. (2004). Measuring Intellectual Capital: A New Model and Empirical Study. Journal of Intellectual Capital, 5(1), 195–212. https://doi.org/10.1108/14691930410513003

Chen, C. X., Lu, H., & Sougiannis, T. (2012). The agency problem, corporate governance, and the asymmetrical behavior of selling, general, and administrative costs. Contemporary Accounting Research, 29(1), 252-282. https://doi.org/10.1111/j.1911-3846.2011.01094.x

Chowdhury, A., & Chowdhury, S. . (2010). Impact of Capital Structure on Firm’s Value: Evidence from Bangladesh. BEH - Business and Economic Horizons, 3(3), 111–122. https://www.ceeol.com/search/article-detail?id=24300

Dalton, D. R., Hitt, M. A., Certo, S. T., & Dalton, C. M. (2007). The fundamental agency problem and its mitigation. Academy of Management annals, 1(1), 1-64.

Diaming. (2017). Analisis Faktor-Faktor yang Mempengaruhi Intellectual Capital. Jurnal Akuntansi & Auditing, 7(2), 111-121A.

Ghozali, I., & Latan, H. (2015). Partial Least Squares, Konsep, Teknik dan Aplikasi Menggunakan Program SmartPLS 3.0 untuk Penelitian Empiris. Badan Penerbit UNDIP.

Hamdani, S., & MM, M. A. (2016). Good Corporate Governance Tinjauan Etika Dalam Praktik Bisnis. Jakarta: Mitra Wacana Media.

Husnan, S., & Pudjiastuti, E. (2004). Dasar-dasar manajemen keuangan. Yogyakarta: UPP AMP YKPN.

Jensen, M. C., & Meckling, W. H. (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of financial economics, 3(4), 305-360. https://doi.org/10.1016/0304-405X(76)90026-X

Jessica. (2018). Pengaruh Modal Intelektual Terhadap Kinerja Perusahaan. In Makalah Disampaikan dalam Simposium Nasional Akuntansi XI.

Martis, R. N. (2013). Capital Structure and Firm’s Financial Performance, An Empirical Analysis of the S&P500. Master. University Van Tilburg.

Meles, A., Porzio, C., Sampagnaro, G., & Verdoliva, V. (2016). The impact of the intellectual capital efficiency on commercial banks performance: Evidence from the US. Journal of Multinational Financial Management, 36, 64-74. https://doi.org/10.1016/j.mulfin.2016.04.003

Munawir. (2010). Analisis Laporan Keuangan. Yogyakarta, Liberty.

Myers, S. C. (2001). Capital structure. Journal of Economic perspectives, 15(2), 81-102. https://pubs.aeaweb.org/doi/pdf/10.1257/jep.15.2.81

Nanik. (2016). Cara Menggunakan dan Memaknai Analisis Jalur (Path Analisis). Alfabeta, Bandung.

Naufal, H. (2014). Manajemen Keuangan: Berbasis Balanced Scorecard: Pendekatan Teori, Kasus, dan Riset Bisnis. Jakarta: Bumi Aksara.

Nurhidayah, V. (2020). Pengaruh Good Corporate Governance Terhadap Kinerja Keuangan Pada Perbankan Di BEI. Prisma (Platform Riset Mahasiswa Akuntansi), 1(2), 132-142.

O'Sullivan, K. J., & Schulte Jr, W. D. (2007). Models for human capital management: human resource management of intellectual capital. International Journal of Learning and Intellectual Capital, 4(4), 453-466. https://doi.org/10.1504/IJLIC.2007.016338

Pratiwi. (2016). Modal Intelektual dan Strategi Pengembangan Organisasi dan Sumber Daya Manusia. Universitas Kristen Satya Wecana.

Pulic, A. (2008). The principles of intellectual capital efficiency-A brief description. Croatian Intellectual Capital Center, Zagreb, 76.

Putra, G. M. P. D., & Wirawati, N. G. P. (2019). Pengaruh Good Corporate Governance pada Nilai Perusahaan dengan Kinerja Keuangan sebagai Variabel Mediasi. E-Jurnal Akuntansi, 30(2), 388-402. https://doi.org/10.24843/EJA.2020.v30.i02.p09

Putri, A. W. N. S., & Lutfillah, N. Q. (2020). Profitability, Company Size, Financial Leverage and Dividend Payout Ratio Influencing Income Smoothing Practices. ATESTASI: Jurnal Ilmiah Akuntansi, 3(2), 84-89. https://doi.org/10.33096/atestasi.v3i2.410

Rahman. (2015). Mengukur dan Mengelola Intellectual Capital. Capital. Jurnal Ekonomi Dan Bisnis Indonesia, 15(2), 247–256.

Rumini, R., Sugiharto, B., & Kurniawan, A. (2019). The Moderating Effect of Competitive Strategies on Intellectual Capital and Value in Banking Companies Accrual. Accounting Research Journal of Sutaatmadja, 3(1), 92–105. https://doi.org/10.35310/accruals.v3i1.43

Sarafina, S., & Saifi, M. (2017). Pengaruh good corporate governance terhadap kinerja keuangan dan nilai perusahaan (Studi pada Badan Usaha Milik Negara (BUMN) yang terdaftar di Bursa Efek Indonesia periode 2012-2015). Jurnal Administrasi Bisnis, 50(3), 108-117. http://administrasibisnis.studentjournal.ub.ac.id/index.php/jab/article/view/2012

Sarstedt, M., Ringle, C. M., & Hair, J. F. (2017). Partial least squares structural equation modeling. Handbook of market research, 26(1), 1-40.

Siro, R. O. (2013). Effect of capital structure on financial performance of firms listed at the Nairobi securities exchange (Doctoral dissertation, University of Nairobi). http://erepository.uonbi.ac.ke/handle/11295/59242

St-Pierre, J., & Audet, J. (2011). Intangible Assets and Performance: Analysis on Manufacturing SMEs. Journal of Intellectual Capital, 12(2), 202–223. https://doi.org/10.1108/14691931111123395

Stephani, T., & Yuyetta, E. N. A. (2011). Analisis faktor-faktor yang mempengaruhi Intellectual Capital Disclosure (ICD). Jurnal Akuntansi dan Auditing, 7(2), 111-121. https://doi.org/10.14710/jaa.7.2.111-121

Soebiantoro, U. (2007). Pengaruh struktur kepemilikan saham, leverage, faktor intern dan faktor ekstern terhadap nilai perusahaan. Jurnal Manajemen dan Kewirausahaan, 9(1), 41-48.

Sulastri, M. E., & Nurdiansyah, D. H. (2017). Pengaruh Good Corporate Governance terhadap Kinerja dan Nilai Perusahaan (Studi pada Perusahaan yang Terindeks oleh CGPI). Manajerial: Jurnal Manajemen dan Sistem Informasi, 16(1), 34-45. https://doi.org/10.17509/manajerial.v16i1.10433

Suliyanto, P. (2018). Metode Penelitian Bisnis untuk Skripsi (Doctoral dissertation, Tesis & Disertasi. Yogyakarta: Andi).

Susanti, S. (2017). Pengaruh Intellectual Capital Terhadap Nilai Perusahaan Perbankan Di Bei Periode 2013-2015. Jurnal Bisnis Darmajaya, 2(2), 146-159. https://jurnal.darmajaya.ac.id/index.php/JurnalBisnis/article/view/713

Sveiby, K. E. (2001). A knowledge‐based theory of the firm to guide in strategy formulation. Journal of intellectual capital, 2(4), 344-358. https://doi.org/10.1108/14691930110409651

Sydler, R., Haefliger, S., & Pruksa, R. (2014). Measuring Intellectual Capital with Financial Figures: Can We Predict Firm Profitability? European Management Journal, 32(2), 244–259. https://doi.org/10.1016/j.emj.2013.01.008

Wheeler, J. R., Smith, D. G., Rivenson, H. L., & Reiter, K. L. (2000). Capital structure strategy in health care systems. Journal of Health Care Finance, 26(4), 42-52.

Widhianningrum, P., & Amah, N. (2012). Pengaruh mekanisme good corporate governance terhadap kinerja keuangan selama krisis keuangan tahun 2007-2009. Jurnal Dinamika Akuntansi, 4(2). https://doi.org/10.15294/jda.v4i2.2167

Wijayani, D. R. (2017). Pengaruh Intellectual Capital terhadap Kinerja Keuangan Perusahaan Publik di Indonesia (Studi Empiris pada Perusahaan Manufaktur di BEI 2012-2014). Jurnal Riset Akuntansi Dan Bisnis Airlangga, 2(1). http://dx.doi.org/10.31093/jraba.v2i1.23

Published
2021-04-10
How to Cite
Hasbiyadi, H. (2021). Is it possible that intellectual Capital Affects Performance?. ATESTASI : Jurnal Ilmiah Akuntansi, 4(1), 70-78. https://doi.org/10.33096/atestasi.v4i1.677
Section
Artikel