ANALYSIS THE INFLUENCE OF INTELLECTUAL CAPITAL ON THE PERFORMANCE OF INDONESIAN COMPANIES
Keywords:
Intellectual Capital, Manufacturing, Consumers Goods, Technological Capital, Firm Performance
Abstract
This study was conducted with the aim of determining the relationship between intellectual capital (IC), categorized in five subconstructions- namely, relational capital (RC), process capital (PrC), human capital (HC), technological capital , innovation capital (Innc), and business performance in the manufacturing industry. The sample from this study is a manufacturing company of the consumer goods industry sector registered with IDX. The findings of this study explain that there are three variables, namely HC, RC, and technological capital, which have no effect on company performance while the other two variables, namely InnC and PrC, have a significant positive influence on company performance. Data resource constraints are the main limitations in the process of making this research, because some companies do not fully explain their financial statements, moreover, the study is limited to manufacturers in the consumer goods sector, and it spans only five years.
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Sirinuch, N. (2015). Intellectual capital, firms’ market The relationship between value and financial performance Empirical evidence from the ASEAN. Journal of Intellectual Capital, Vol. 16(3), 587–618.
Soetanto, T. & P. F. L. (2018). Intellectual Capital in Indonesia: Dynamic Panel Approach. Journal of Asia Business Studies. https://doi.org/10.1108/JABS-02-2018-0059
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Tiwari, R. & H. V. (2017). Intellectual Capital and Corporate Performance : A case of Indian Banks. Journal of Accounting in Emerging Economies, 1–26. https://doi.org/10.1108/JAEE-07-2016-0067
Torre, C., Tommasetti, A., & Maione, G. (2020). Technology usage, intellectual capital, firm performance and employee satisfaction: the accountants’ idea. TQM Journal, 33(3), 545–567. https://doi.org/10.1108/TQM-04-2020-0070
Tran, N. P., & Vo, D. H. (2020). Do banks accumulate a higher level of intellectual capital? Evidence from an emerging market. Journal of Intellectual Capital. https://doi.org/10.1108/JIC-03-2020-0097
Vo, D. H., & Tran, N. P. (2021). Intellectual capital and bank performance in Vietnam. Managerial Finance, 47(8), 1094–1106. https://doi.org/10.1108/MF-03-2020-0143
Wijayani, D. R. (2017). Pengaruh Intellectual Capital Terhadap Kinerja Keuangan Perusahaan Publik Di Indonesia. Jurnal Riset Akuntansi Dan Bisnis Airlangga, 2(1), 97–116. https://doi.org/10.30595/kompartemen.v17i1.3971
Xu, J., & Li, J. (2020a). The interrelationship between intellectual capital and firm performance: evidence from China’s manufacturing sector. Journal of Intellectual Capital. https://doi.org/10.1108/JIC-08-2019-0189
Xu, J., & Li, J. (2020b). The interrelationship between intellectual capital and firm performance: evidence from China’s manufacturing sector. Journal of Intellectual Capital, 23(2), 313–341. https://doi.org/10.1108/JIC-08-2019-0189
Xu, J., Shang, Y., Yu, W., & Liu, F. (2019). Intellectual capital, technological innovation and firm performance: Evidence from China’s manufacturing sector. Sustainability (Switzerland), 11(19), 1–15. https://doi.org/10.3390/su11195328
Yulaeli, T. (2021). the Influence of Intellectual Capital, Governance and Organizational Culture on Company Performance. Jurnal Ilmiah MEA (Manajemen, Ekonomi, Dan Akuntansi), 5(3), 1008–1022.
Asian Development Bank. (2014). Innovative Asia : advancing the knowledge-based economy ; highlights of the forthcoming ADB study report.
Bayraktaroglu, A. E., Calisir, F., & Baskak, M. (2019). Intellectual capital and firm performance: an extended VAIC model. Journal of Intellectual Capital, 20(3), 406–425. https://doi.org/10.1108/JIC-12-2017-0184
BKPM. (2022). https://www.bkpm.go.id/id/publikasi/detail/berita/industri-manufaktur-untuk-percepatan-pertumbuhan-ekonomi-indonesia
Cooper, D. R., & Schindler, P. S. (2014). Business research methods, The McGraw-Hill/Irwin Series in Operations and Decision Sciences, twelfthedition.
Daftar Perusahaan Manufaktur di BEI Terbaru - Invesnesia.com. (2022). https://www.invesnesia.com/perusahaan-manufaktur-di-bei
Fernandez-Olmos, M., Diaz-Vial, I., & Malorgio, G. (2021). Empirical approach to the sequential relationships between generation, relational capital and performance in family wineries in Spain. International Journal of Wine Business Research, 33(1), 118–133. https://doi.org/10.1108/IJWBR-10-2019-0056
Ginesti, G., Caldarelli, A., & Zampella, A. (2018). Exploring the impact of intellectual capital on company reputation and performance. Journal of Intellectual Capital, 19(5), 915–934. https://doi.org/10.1108/JIC-01-2018-0012
Hayaeian, S., Hesarzadeh, R., & Abbaszadeh, M. R. (2021). The impact of knowledge management strategies on the relationship between intellectual capital and innovation: evidence from SMEs. Journal of Intellectual Capital. https://doi.org/10.1108/JIC-07-2020-0240
Hesniati, H., & Erlen. (2021). The Impact of Intellectual Capital on Organizational Performance. Procedia - Social and Behavioral Sciences, 221(2), 194–202. https://doi.org/10.1016/j.sbspro.2016.05.106
Indonesia, I. A. (2022). PSAK 19 Aset Takberwujud. http://www.iaiglobal.or.id/v03/standar-akuntansi-keuangan/pernyataan-sak-20-psak-19-aset-takberwujud
Kengatharan, N. (2019). A knowledge-based theory of the firm: Nexus of intellectual capital, productivity and firms’ performance. International Journal of Manpower, 40(6), 1056–1074. https://doi.org/10.1108/IJM-03-2018-0096
Khalique, M., Bontis, N., Bin Shaari, J. A. N., Yaacob, M. R., & Ngah, R. (2018). Intellectual capital and organisational performance in Malaysian knowledge-intensive SMEs. International Journal of Learning and Intellectual Capital, 15(1), 20–36. https://doi.org/10.1504/IJLIC.2018.088345
Khalique, M., Bontis, N., Shaari, A. N. bin, Jamal, & Isa, A. H. M. (2015). Intellectual capital in Pakistani small medum enterprises. Journal of Intellectual Capital, 16(1), 1–19.
Khalique, M., Hina, K., Ramayah, T., & Shaari, J. A. N. bin. (2020). Intellectual capital in tourism SMEs in Azad Jammu and Kashmir, Pakistan. Journal of Intellectual Capital, 21(3), 333–355. https://doi.org/10.1108/JIC-11-2018-0206
Melani, E. (2016). Pengaruh Tidak Langsung Human Capital Melalui Elemen Intellectual Capital Terhadap Kinerja Perusahaan. Simposium Nasional Akuntansi XIX, 1–14.
Mohammad, H. S., & Bujang, I. (2019). Performance of Malaysian financial firms: An intellectual capital perspective using MVAIC model. Asian Economic and Financial Review, 9(7), 752–765. https://doi.org/10.18488/journal.aefr.2019.97.752.765
Ni, Y., Cheng, Y. R., & Huang, P. (2020). Do intellectual capitals matter to firm value enhancement? Evidences from Taiwan. Journal of Intellectual Capital, 22(4), 725–743. https://doi.org/10.1108/JIC-10-2019-0235
Pigola, A., De Santi, P. V., da Costa, P. R., & Storopoli, J. (2021). Intellectual capital on performance: a meta-analysis study enhancing a new perspective of the components. Journal of Intellectual Capital. https://doi.org/10.1108/JIC-01-2021-0025
Ramírez, Y., Dieguez-Soto, J., & Manzaneque, M. (2021). How does intellectual capital efficiency affect firm performance? The moderating role of family management. International Journal of Productivity and Performance Management, 70(2), 297–324. https://doi.org/10.1108/IJPPM-03-2019-0119
Scafarto, V., Ricci, F., & Scafarto, F. (2016). Intellectual capital and firm performance in the global agribusiness industry: The moderating role of human capital. Journal of Intellectual Capital, 17(3), 530–552. https://doi.org/10.1108/JIC-11-2015-0096
Sirinuch, N. (2015). Intellectual capital, firms’ market The relationship between value and financial performance Empirical evidence from the ASEAN. Journal of Intellectual Capital, Vol. 16(3), 587–618.
Soetanto, T. & P. F. L. (2018). Intellectual Capital in Indonesia: Dynamic Panel Approach. Journal of Asia Business Studies. https://doi.org/10.1108/JABS-02-2018-0059
Soewarno, N., & Tjahjadi, B. (2020). Measures that matter: an empirical investigation of intellectual capital and financial performance of banking firms in Indonesia. Journal of Intellectual Capital, 21(6), 1085–1106. https://doi.org/10.1108/JIC-09-2019-0225
Suzan, L., & Devi, B. R. P. (2021). Pengaruh Ukuran Perusahaan Dan Intellectual Capital Terhadap Nilai Perusahaan. Jurnal Ilmiah MEA (Manajemen, Ekonomi, Dan Akuntansi), 5(3), 1582–1596.
Tiwari, R. & H. V. (2017). Intellectual Capital and Corporate Performance : A case of Indian Banks. Journal of Accounting in Emerging Economies, 1–26. https://doi.org/10.1108/JAEE-07-2016-0067
Torre, C., Tommasetti, A., & Maione, G. (2020). Technology usage, intellectual capital, firm performance and employee satisfaction: the accountants’ idea. TQM Journal, 33(3), 545–567. https://doi.org/10.1108/TQM-04-2020-0070
Tran, N. P., & Vo, D. H. (2020). Do banks accumulate a higher level of intellectual capital? Evidence from an emerging market. Journal of Intellectual Capital. https://doi.org/10.1108/JIC-03-2020-0097
Vo, D. H., & Tran, N. P. (2021). Intellectual capital and bank performance in Vietnam. Managerial Finance, 47(8), 1094–1106. https://doi.org/10.1108/MF-03-2020-0143
Wijayani, D. R. (2017). Pengaruh Intellectual Capital Terhadap Kinerja Keuangan Perusahaan Publik Di Indonesia. Jurnal Riset Akuntansi Dan Bisnis Airlangga, 2(1), 97–116. https://doi.org/10.30595/kompartemen.v17i1.3971
Xu, J., & Li, J. (2020a). The interrelationship between intellectual capital and firm performance: evidence from China’s manufacturing sector. Journal of Intellectual Capital. https://doi.org/10.1108/JIC-08-2019-0189
Xu, J., & Li, J. (2020b). The interrelationship between intellectual capital and firm performance: evidence from China’s manufacturing sector. Journal of Intellectual Capital, 23(2), 313–341. https://doi.org/10.1108/JIC-08-2019-0189
Xu, J., Shang, Y., Yu, W., & Liu, F. (2019). Intellectual capital, technological innovation and firm performance: Evidence from China’s manufacturing sector. Sustainability (Switzerland), 11(19), 1–15. https://doi.org/10.3390/su11195328
Yulaeli, T. (2021). the Influence of Intellectual Capital, Governance and Organizational Culture on Company Performance. Jurnal Ilmiah MEA (Manajemen, Ekonomi, Dan Akuntansi), 5(3), 1008–1022.
Published
2022-12-29
How to Cite
Owen, O., & Hesniati, H. (2022). ANALYSIS THE INFLUENCE OF INTELLECTUAL CAPITAL ON THE PERFORMANCE OF INDONESIAN COMPANIES. Jurnal Ilmiah Manajemen, Ekonomi, & Akuntansi (MEA), 6(3), 2148-2163. https://doi.org/10.31955/mea.v6i3.2597
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Articles
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