PENGARUH INTELLECTUAL CAPITAL TERHADAP NILAI PASAR DAN KINERJA KEUANGAN PERUSAHAAN PERBANKAN DI BURSA EFEK INDONESIA

Abstract

Tujuan penelitian ini adalah untuk menganalisis pengaruh intellectual capital dan komponennya terhadap nilai pasar perusahaan dan kinerja keuangan pada 21 perursahaan perbankan umum di Bursa Efek Indonesia pada tahun 2009 sampai 2011. Komponen modal intelektual adalah Value Added of Capital Employee, Value Added of Human Capital, and Structural Capital Value Added. Kinerja keuangan perusahaan diukur dengan Return on Assets, Return on Equity, dan Growth of Revenue. Untuk menemukan pengaruh antar variabel, penelitian ini menggunakan analisis regresi linier. Hasil analisis regresi menunjukkan bahwa intellectual capital tidak bepengaruh signifikan terhadap nilai pasar perusahaan dan Growth of Revenue; Value Added of Capital Employee berpengaruh signifikan terhadap Return on Equity; Value Added of Human Capital tidak berpengaruh terhadap kedua variabel nilai pasar perusahaan dan kinerja keuangan; dan Structural Capital Value Added berpengaruh signifikan terhadap semua proksi kinerja keuangan perusahaan.

Kata kunci: intellectual capital, nilai pasar perusahaan, kinerja keuangan vii

ABSTRACT viii

The purpose of this research were to analyze the impact of intellectual capital and this components to firm’s market value and finance performances at 21 public banks in Indonesia Stock Exchange in year 2008 and 2009. The components of intellectual capital were Value Added of Capital Employee, Value Added of Human Capital, and Structural Capital Value Added. Finance performances were measured by Return on Assets, Return on Equity, and Growth of Revenue. To find the impact of variables, this research used linier regression analysis. The result of regression analysis showed that intellectual capital had not significant effect to firm’s market value and Growth of Revenue; Value Added of Capital Employee had only significant effect to Return on Equity; Value Added of Human Capital had not significant effect to both of firm’s market value and finance performance; and Structural Capital Value Added had significant effect to all proxy of finance performance.

Keywords: intellectual capital, firm’s market value, finance performance