THE EFFECT OF INTELLECTUAL CAPITAL ON THE VALUE OF FOOD AND BEVERAGE COMPANIES WITH FINANCIAL PERFORMANCE AS THE INTERVENING VARIABLE (A STUDY ON FOOD AND BEVERAGE COMPANIES IN 2017-2019)

Authors

  • Ahmad Naufal 'Abqory Brawijaya University
  • Aulia Fuad Rahman Brawijaya University

Keywords:

Intellectual Capital, Company Value, Financial Performance, Food and Beverage Company

Abstract

This research empirically examines the effect of intellectual capital on the value of the food and beverage companies with financial performance as the intervening variable. This research employs a comparative causal quantitative method in which the researcher employs secondary data from the financial reports of food and beverage companies listed on IDX between 2017 and 2019. The result of the data analysis process through the SEMPLS method utilizing warpPLS software reveals that intellectual capital has a significant positive direct effect on the value of the companies, implying that higher intellectual capital increases the value of the company; whilst, intellectual capital has a significant negative indirect effect on the value of the companies with financial performance as the
intervening variable, suggesting that lower financial performance affected by intellectual capital increase tends to lessen the value of the company.

References

Abidin, Sawarjuwono, & Kadir. 2018. "Intellectual capital Disclosure Commitment : Myth or Reality?". Journal of Intellectual capital, Vol.13, 39– 56.

Brigham, E. F., & Daves, P. R. 2016. Intermediate Financial management. Cengage Learning.

Brigham, Eugene F. dan Houston, Joel F. 2016. Dasar-dasar Manajemen Keuangan Terjemahan. Edisi 10. Jakarta: Salemba Empat.

Copeland, Thomas E., J dan Fred Weston. 2017. Financial Theory And Corporate Policy, 5thEd, Addison-Wesley Publishing Company, Inc, USA.

Edvinsson, L., & Sullivan, P. 2016. Developing a model for managing intellectual capital. European management journal, 14(4), 356-364.

Ernawati, D., & Widyawati, D. 2018. Pengaruh profitabilitas, leverage dan ukuran perusahaan terhadap nilai perusahaan. Jurnal Ilmu dan Riset Akuntansi (JIRA), 4(4).

Faisal, A., Samben, R., & Pattisahusiwa, S. 2018. Analisis kinerja keuangan. KINERJA, 14(1), 6-15.

Fauzia, N., & Amanah, L. 2016. Pengaruh intellectual capital, karakteristik perusahaan, dan corporate social responsibility terhadap nilai perusahaan. Jurnal Ilmu Dan Riset Akuntansi (JIRA), 5(4).

Gantino, R. 2016. Pengaruh corporate social responsibility terhadap kinerja keuangan perusahaan manufaktur yang terdaftar di bursa efek Indonesia periode 2008-2014. Jurnal Dinamika Akuntansi Dan Bisnis, 3(2), 19-32.

Jogiyanto dan Hartono. 2018. Teori dan Analisis Investasi. Edisi Kedelapan. Yogyakarta; BPFE.

Kasmir, S. 2016 . The Mondragon cooperatives and global capitalism: A critical analysis. In New Labor Forum (Vol. 25, No. 1, pp. 52-59). Sage CA: Los Angeles, CA: SAGE Publications.

Maghfiroh, Intan. 2017. PENGARUH INOVASI PROSES TERHADAP KINERJA PEMASARAN DIMEDIASI OLEH KEUNGGULAN BERSAING Pada Sentra IKM Manik-manik Plumbon Gambang Gudo Jombang. Other thesis, STIE PGRI Dewantara Jombang, 45-52.

Moeheriono. 2017. Pengukuran kinerja berbasis kompetensi (Edisi Revisi). Jakarta: Raja Grafindo Persada.

Putra, A & Lestari, P. 2016. Pengaruh kebijakan dividen, likuiditas, profitabilitas dan ukuran perusahaan terhadap nilai perusahaan. E-Jurnal Manajemen Unud, 5(7), pp. 4044–4070.

Ramadan, B. M., Dahiyat, S. E., Bontis, N., and Al-Dalahmeh, M. A. (2017). Intellectual capital, knowledge management and social capital within the ICT sector in Jordan. J. Intell. Capital 18, 437–462. doi: 10.1108/jic-06-2016-0067

Ribo, Agustinus. 2018. Analisis Laporan Keuangan Untuk Menilai Kinerja Keuangan Perusahaan Telekomunikasi Yang Terdaftar Di Bursa Efek Indonesia, Fakultas Ekonomi dan Bisnis, Universitas Hasanudin Makasar.

Sayyidah, U., & Saifi, M. 2017. Pengaruh Intellectual capital Terhadap Nilai Perusahaan Dengan Profitabilitas Sebagai Variabel Moderasi (Studi Pada Perusahaan Sub Sektor Property Dan Real Estate Di Bursa Efek Indonesia Periode 2013-2015). Jurnal Administrasi Bisnis, 46(1), 163-171.

Setianto. 2019. Analisis Faktor-Faktor yang Mempengaruhi Pengungkapan Modal Intelektual (Studi Empiris pada Perusahaan yang Terdaftar di “Indeks Kompas 100” Tahun 2010-2012). ISSN (Online): 2337-3806 Diponergoro Journal Of Accounting Volume 3, Nomor 4.

Sugiyono. 2017. Metode Penelitian Kuantitatif, Kualitatif, dan R&D. Bandung : Alfabeta, CV

Sujarweni, V. W. 2016. Metodologi penelitian bisnis dan ekonomi.

Syahbani, D. I., Murni, Y., & Fredy, H. 2018. Analisis Pengaruh Rasio Likuiditas, Leverage dan Profitabilitas Terhadap Return Saham Pada Perusahaan Makanan dan Minuman. Jurnal Program Studi Pendidikan Ekonomi, 7(1), 1-6.

Ulum, Ihyaul. 2019. Intellectual capital konsep dan kajian empiris. Yogyakarta: Graha Ilmu.

Downloads

Published

2022-04-01

How to Cite

Ahmad Naufal ’Abqory, & Fuad Rahman, A. (2022). THE EFFECT OF INTELLECTUAL CAPITAL ON THE VALUE OF FOOD AND BEVERAGE COMPANIES WITH FINANCIAL PERFORMANCE AS THE INTERVENING VARIABLE (A STUDY ON FOOD AND BEVERAGE COMPANIES IN 2017-2019). Reviu Akuntansi, Keuangan, Dan Sistem Informasi, 1(2), 100–115. Retrieved from https://reaksi.ub.ac.id/index.php/reaksi/article/view/12

Issue

Vol. 1 No. 2 (2022): Reviu Akuntansi, Keuangan dan Sistem Informasi (REAKSI)

Section

Articles

License

Copyright (c) 2022 Reviu Akuntansi, Keuangan, dan Sistem Informasi

Creative Commons License

This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.