INTELLECTUAL CAPITALDAN KINERJA KEUANGAN PERUSAHAAN: SUATU ANALISIS DENGAN PENDEKATAN PARTIAL LEAST SQUARES

INTELLECTUAL CAPITALDAN KINERJA KEUANGAN PERUSAHAAN: SUATU ANALISIS DENGAN PENDEKATAN PARTIAL LEAST SQUARES

Ihyaul Ulum
(FE Universitas Muhammadiyah Malang)
Imam Ghozali & Anis Chariri
(FE Universitas Diponegoro Semarang)

Abstract
The purpose of this study is to investigate the association between the efficiency of
value added (VAICTM) by the major components of a firm’s resource base (physical
capital, human capital and structural capital) and three traditional dimensions of
financial company’s performance: ROA, ATO, and GR. Data are drawn from 130
Indonesian banking sectors for three years (2004-2006). It is an empirical study
using PLS for the data analysis. The findings show that: IC influences positively to
financial company’s performance; IC influences positively to future financial
company’s performance; and the rate of growth of a company’s IC (ROGIC) is not
influences to the future financial company’s performance. Overall, the empirical
findings suggest that human capital (VAHU) and profitability ROA remains the most
significant indicator for VAICTM and financial company’s performance for three
years. While physical capital (VACA) is significant only for 2006. The limitation of
this research is: the data is drawn from all of Indonesian banking sectors, listed and
unlisted, which have limited this research to choose the financial performance
measure based on market value.

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