EFFECT OF INTELLECTUAL CAPITAL, CAPITAL STRUCTURE AND MANAGERIAL OWNERSHIP TOWARD FIRM VALUE OF MANUFACTURING SECTOR COMPANIES LISTED IN INDONESIA STOCK EXCHANGE (IDX) PERIOD 2010-2014

Authors

  • Hamidah Hamidah Fakultas Ekonomi Unversitas Negeri Jakarta
  • Gatot Nazir Ahmad Fakultas Ekonomi Unversitas Negeri Jakarta
  • Rahma Aulia Fakultas Ekonomi Unversitas Negeri Jakarta

DOI:

https://doi.org/10.21009/JRMSI.006.2.04

Keywords:

Firm Value, Intellectual Capital, VACA, VAHU, STVA, Capital Structure, Managerial Ownership.

Abstract

The purpose of this study is to know the effect of Intellectual Capital, Capital Structure and Managerial Ownership on Firm Value in Manufacturing Company Listed on Indonesia Stock Exchange in 2010-2014. In this research, intellectual capital can be seen from VACA (Value Added Capital Employed), VAHU (Value Added Human Capital), and STVA (Structural Capital Value Added). The research model in this study employs panel data analysis. The samples are manufacturing companies listed in Indonesian Stock Exchange in 2010-2014 selected by purposive sampling. The result show that VACA and STVA has negative  and not significant effect on firm value (Tobins’Q). Whereas, VAHU have positive and not significant effect on firm value. Capital structure (DAR) have positive and significant effect on firm value. Managerial ownership (MGRL) have negative and significant effect on firm value.

 

 Keywords: Firm Value, Intellectual Capital, VACA, VAHU, STVA, Capital Structure, Managerial Ownership.

Downloads

Published

2015-09-30

How to Cite

Hamidah, H., Ahmad, G. N., & Aulia, R. (2015). EFFECT OF INTELLECTUAL CAPITAL, CAPITAL STRUCTURE AND MANAGERIAL OWNERSHIP TOWARD FIRM VALUE OF MANUFACTURING SECTOR COMPANIES LISTED IN INDONESIA STOCK EXCHANGE (IDX) PERIOD 2010-2014. JRMSI - Jurnal Riset Manajemen Sains Indonesia, 6(2), 558–578. https://doi.org/10.21009/JRMSI.006.2.04

Issue

Vol. 6 No. 2 (2015): Jurnal Riset Manajemen Sains Indonesia

Section

Articles

License

 Creative Commons License
Articles in Jurnal Riset Manajemen Sains Indonesia are Open Access articles published under the Creative Commons CC BY-NC-SA License.  This license permits use, distribution and reproduction in any medium for non-commercial purposes only, provided the original work and source is properly cited. Any derivative of the original must be distributed under the same license as the original.