Pengaruh Intellectual Capital Terhadap Market Value dan Kinerja Keuangan

Angela Desiyanti Pangestu, Riesanti Edie Wijaya

Abstract


The resource-based theory provides an epiphany about the existence of resources that potentially generate value added for a company competitive advantage. The theory emphasizes the existence of intellectual capital as levers of company success. However, the various studies produce inconsistent results one another. These studies take an Indonesia stock exchange setting with the market value and the financial performance as a measure of the success of the company. The result of this research shows that the disparity between human capital and structural capital in creating value added for the company.


Keywords


Intellectual Capital; Resource-Based Theory; Market Value; Financial Performance

Full Text:

Download Article

References


Barratt, M. dan A. Oke. 2002. Antecedents of supply chain visibility in retail supply chains:A resource-based theory perspective. Journal of Operations Management, 25, 1217-233.

Bontis, N. dan F. Jac. 2002. Intellectual capital ROI: a causal map of human capital antecedents and consequents. Journal of Intellectual Capital 3(3):223-247.

Bontis, N., C. K. William Chua dan S. Richardson. 2000. Intellectual Capital and Business Performance in Malaysian Industries. Journal of Intellectual Capital, 1 (1), 85-100.

Chan, K. H.. 2009. Impact of intellectual capital on organizational perfor-mance, The Learning Organization, 16 (1), 4-21.

Chen, M.C., S.J. Cheng dan Y. Hwang. 2005. An Empirical Investigation of the Relationship Between Intellectual Capital and Firms’ Market Value and Financial Performance. Journal of Intellectual Capital, 6 (2), 159-176.

Choong, K.K. 2008. Intellectual capital: definitions, categorization and reporting models. Journal of Intel-lectual Capital, 9 (4), 609-638.

Chu, S. K. H., K. H. Chan, dan W. W.Y. Wu. 2011. Charting Intellectual Capital Performance of The Gateway to China. Journal of Intellectual Capital, 12 (2), 249-276.

Clarke, M., D. Seng, dan H. W. Rosalind. 2011. Intellectual Capital and Firm Performance in Australia. Journal of Intellectual Capital, 12 (4), 505-530.

Firer, S. dan S. M. Williams. 2003. Intellectual Capital and Traditional Measures of Corporate Performance. Journal of Intellectual Capital, 4 (3), 348-360.

Galbreath, J. 2005. Which resources matter the most to firm success? An exploratory study of resource-based theory. Technovation, 25, 979-987.

Ghosh, S dan M. Amitava. 2009. Indian software and pharmaceutical sector IC and financial performance, Journal of Intellectual Capital, 10 (3), 369-388.

Grant, R. M. 1991. The Resource-based theory of Competitive Advantage. California Management Review, 33 (1), 114-135.

Jelcic, K. 2007. Intellectual Capital: Handbook of IC Management in Companies. Intellectual Capital Center, Croatia.

Kamath, G. B. 2008. Intellectual Capital and Corporate Performance in Indian Pharmaceutical Industry. Journal of Intellectual Capital, 9 (4), 684-704.

Komnenic, B. dan D. Pokrajcic. 2012. Intellectual Capital and Corporate Performance of MNCs in Serbia. Journal of Intellectual Capital, 13 (1), 106 -119.

Knight, D. J. 1999. Performance measures for increasing intellectual capital. Strategy & Leadership, 2 (27), 22-27.

Maditinos, D., C. Dimitrios, T. Chara-lampos dan T. Georgios. 2011. The impact of intellectual capital on firms' market value and financial performance. Journal of Intellectual Capital, 12 (1), 132-151.

Mavridis, Dimitrios G. 2004. The Intellectual Capital Performance of The Japanese Banking Sector. Journal of Intellectual Capital 5 (1), 92-115.

Nazari, J. A. dan I. M. Herremans. 2007. Extended VAIC Model: Measuring Intellectual Capital Components. Journal of Intellectual Capital, 8 (4) 595-609.

Priyatno, D. 2009. 5 Jam Belajar Olah Data dengan SPSS 17. Andi, Yogyakarta.

Pulic, A. (2000). VAIC™– An Accounting Tool For IC Management. International journal of technology management, 20 (5-8), 702-714.

Riahi-Belkaoui, A. 2003. Intellectual Capital and Firm Performance of US Multinational Firms: A Study of The Resource-Based and Stakeholder Views. Journal of Intellectual Capital, 4 (2), 215-226.

Schneider, B. 1990. Organizational Climate and Culture. Caligfornia: Pfeiffer

Stahle, P., S. Stahle, dan S. Aho. 2011. Value Added Intellectual Coefficient (VAIC): A Critical Analysis. Journal of Intellectual Capital, 12 (4), 531-551.

Sumedrea, Silvia. 2013. Intellectual capital and Firm Performance: A Dynamic Relationship in Crisis Time. Procedia Economics and Finance, 6, 137-144.

Tan, H. P., D. Plowman dan P. Hancock. 2007. Intellectual capital and financial returns of companies. Journal of Intellectual Capital, 8 (1), 76-95.

Van Horne, J. C. 1989. Financial Management and Policy. United States: Prentice-Hall.

Wang, J. C. 2008. Investigating market value and intellectual capital for S&P 500. Journal of Intellectual Capital 9 (4), 546-563.

Zéghal, D. dan A. Maaloul. 2010. Analysing value added as an indicator of intellectual capital and its consequences on company perfor-mance. Journal of Intellectual Capital, 11 (1), 39-60.


Refbacks

  • There are currently no refbacks.


Bookmark and Share


Office:
Ruang Jurnal Fakultas Ekonomi dan Bisnis UMY
Gedung Ki Bagus Hadikusuma (E4) Lantai 2, Kampus Terpadu Universitas Muhammadiyah Yogyakarta,
Jalan Brawijaya (Lingkar Selatan), Tamantirto, Kasihan, Bantul, Daerah Istimewa Yogyakarta, Indonesia, 55183
Website: journal.umy.ac.id/index.php/ai - E-mail: jai@umy.ac.id

Journal of Accounting and Investment is licensed under Creative Commons Attribution Attribution-NonCommercial-NoDerivatives 4.0 International License

View My Stats