DEWAN KOMISARIS DAN INTELLECTUAL CAPITAL DISCLOSURE PADA PERBANKAN DI INDONESIA
Prodi Akuntansi Fakultas Ekonomi Universitas Sultan Ageng Tirtayasa
Jl. Raya Jakarta Km. 4 Pakupatan Serang Banten, 42118, Indonesia
Korespondensi dengan Penulis:
Lia Uzliawati: Telp. +62 254 20330
The purpose of this study is to examine the relationship between board of commissioner and intellectual capital disclosure in Indonesia Banking Industry.The purpose of this study was to examine the relationship between the board of commissioner and intellectual capital disclosure in Indonesia Banking Industry. The intellectual capital disclosure measurement in this study used the index developed by Sveiby (1997).The data were collected from 31 banks listed in Indonesia Stock Exchange period 2008-2012. The disclosure of intellectual capital measurement in this study used the index developed by Sveiby (1997). The Data were collected from 31 banks listed in Indonesia Stock Exchange period 2008-2012. This study finds that size, independent commissioner, and meeting frequency have positive relationship with intellectual capital disclosure. This study found that the size, independent commissioner, and meeting frequency had a positive relationship with intellectual capital disclosure. The finding of this research can be as a reference and portrait that board of commissioner already aware the importance of ICD. The finding of this research could be as a reference and portrait that board of commissioner was already aware of the importance of ICD.
Keywords: board of commissioner, corporate governance, Intellectual Capital Disclosure, banking industry
19215226234_Lia Uzliawati (Full Text)
INTELLECTUAL CAPITAL TERHADAP NILAI PERUSAHAAN DENGAN KINERJA KEUANGAN SEBAGAI VARIABEL INTERVENING
Nisa Ayu Castrena Dewi
Prodi Akuntansi Fakultas Ekonomi dan Bisnis Universitas Telkom
Jl. Telekomunikasi Terusan Buahbatu-Bandung, 40257, Indonesia.
- Korespondensi Penulis:
- Nisa Ayu Castrena Dewi: Telp. +62 22 750 3055; Fax. +62 22 750 5522
- E-mail: email@example.com
Company competition ability was not only in the assets ownership but also in the innovation, information system, organization management and resources, including the importance of knowledge assets in the company. One of the approaches used in assessment and measuring of knowledge assets was Intellectual Capital (IC) which used model namely Value Added Intellectual Coefficient (VAICTM) and also used per IC component namely Value Added Capital Employed (VACA), Value Added Human Capital (VAHU) and Structural Capital Value Added (STVA). This research aimed to investigate the intellectual effect toward firm value with return on assets as the intervening variable. The samples of this research were pharmacy companies listed in BEI. The samples were selected by using purposive sampling method and there were 24 observation data. The hypotheses of this research used path analysis, simple linear regression and double linear regression. The result of this research showed that IC had a positive significant effect toward Return on Assets as. IC did not have a direct effect toward firm value. It influenced indirectly toward firm value with Return on Assets as the intervening variable, simultaneously or partially. VACA, VAHU and STVA did not have an effect toward Return on Assets of a firm simultaneously or partially. VACA, VAHU and STVA did not have an effect on firm value.
Key words: Intellectual Capital (IC), Price to Book Value (PBV), Return on Assets (ROA)
MODEL MEDIASI DALAM HUBUNGAN ANTARA INTELLECTUAL CAPITAL DISCLOSURE, NILAI PERUSAHAAN, DAN FINANCIAL PERFORMANCE
Desak Nyoman Sri Werastuti
Jurusan Akuntansi Fakultas Ekonomi dan Bisnis Universitas Pendidikan Ganesha
Jl. Udayana No.11 Singaraja, 81116.
Korespondensi dengan Penulis:
Desak Nyoman Sri Werastuti: Telp. +62 362 22570; Fax. +62 362 25735
This study aimed to determine the disclosure effect of intellectual capital on firm value through the financial performance of companies listed on the Indonesia Stock Exchange in the period of 2008 to 2012. Intellectual capital measurement used a model developed by Pulic (1998, 1999, 2000), which assessed the efficiency of value added as a result of the company’s intellectual capabilities (value added intellectual coefficient–VAICTM). Financial performance in this study was measured using return on assets (ROA) and firm value was measured by using the Market to Book Value (MtBV). The samples in this study were taken using purposive. The final samples in this study were 1.135 observations. This hypothesis was tested using path analysis. The results showed that (1) the disclosure of intellectual capital had a positive effect on financial performance; (2) disclosure of intellectual capital had no effect on firm value; (3) financial performance was able to mediate the relationship between intellectual capital disclosure and corporate value.
Key words: corporate value, financial performance, intellectual capital disclosure, value added
INFORMASI INTELLECTUAL CAPITAL DALAM LAPORAN ANALIS SEKURITAS: BERMANFAATKAH BAGI INVESTOR?
C. Erna Susilawati
Fakultas Bisnis Unika Widya Mandala Surabaya
Jl.Dinoyo 42-44 Surabaya, 60265
Korespondensi dengan Penulis:
C.Erna Susilawati: Telp./Fax.+62 31 567 8578
The role of intellectual capital to increase value of the firm, prompting securities analyst to include information about that into securities analyst report. The value of analyst report explored by previous researchers. However, information about intellectual capital in securities analyst report is not widely studied. The purpose of this research to investigate the value of intellectual capital information in the securities analyst report for investor and tries to explore the role of securities analyst to reduce asymmetry information. The result showed that intellectual capital information used by investor and thus effects the trading volume. The other findings show that intellectual capital information reinforces the influence of the revision of stocks recommendation to trading volume. Abnormal return of stock when the analyst reports contain intellectual capital information is higher than that do not contain such information.
Key words: abnormal return, intellectual capital, securities analyst report
KINERJA INTELLECTUAL CAPITAL PERBANKAN INDONESIA: PENERAPAN MODEL PULIC DAN ANALISIS PANEL DATA
Fakultas Bisnis dan Ekonomika Universitas Surabaya
Jl. Raya Kalirungkut, Surabaya, 60293.
Korespondensi dengan Penulis:
Yenny Sugiarti: Telp: +62 31 298 3331; Fax: +62 31 2981131
This paper investigated the performance of intellectual capital of Indonesian banking industry for the period 2007-2009. It sought to measure the Value Added Intellectual Coefficient (VAICTM) and to analyze the performance of Indonesian banks. The Pulic model is utilized to estimate the intellectual capital coefficient, and the panel data regression was applied to test the impacts of human capital and physical capital on intellectual capital. The results of Pulic model showed that there were increasing number of top performance banks during the period of study, rising from 2 banks in 2007 to 4 banks in 2009. There was a slight decrease in the bad performance banks, from 9 banks in 2007 to 8 banks in 2009. Bank Mandiri bank appeared to be the only government bank that was classified as the top performer during the period of study, while Bank PAN Indonesia, Bank Victoria, and Bank Himpunan Saudara 1906 emerge to be the top performers among the private banks. The findings from panel data regression suggested that both human capital and physical capital had positive significant impacts on intellectual capital. When the estimation was done toward human capital and physical capital separately, the results were closely similar to the results in the original model.
Key words: intellectual capital, human capital, physical capital, Pulic Model
INTELLECTUAL CAPITAL DISCLOSURE DAN
KAPITALISASI PASAR DI INDONESIA
STIE Indonesia Banjarmasin
Jl. H. Hasan Basry No. 9-11 Banjarmasin, 70123
Korespondensi dengan Penulis :
Soelistijono Boedi: Telp. 0511-3304652 Faks. 0511-3305238
E-mail : firstname.lastname@example.org
This study examined the differences of Intellectual Capital Disclosure (ICD) between new industry and old industry, therefore influence of ICD on market capitalization continuing research by Abdolmohammadi (2005), as for becoming object from this research was all industry listed in Jakarta Stock Exchange (JSX). This research represented the empirical test which used purposive sampling techniques in data collection. Data were collected using a secondary data of 65 from industry 2003 to 2007. Data analysis used regression. The results of hypothesis examination indicated that from five hypotheses raised, there were four accepted hypothesis. Accepted hypothesis were hypothesis 1 (there were significant differences between new industry and old industry of ICD on annual report), hypothesis 3 (there was no significant influence in book value on market capitalization) and hypothesis 4 (there was a significant influence in ROA Difference on market capitalization). There was one hypothesis that was no correlation, it was hypothesis 2 (there was no significant influence between ICD on market capitalization). From this result, it could be concluded that intellectual capital disclosure had no influence on capitalization market value therefore intellectual capital disclosure had no difference between new industry and old industry.
Key words: intellectual capital disclosure, market capitalization, new industry, old industry
THE EFFECT OF MULTINATIONAL UNDERWRITING FIRMS ON INTELLECTUAL CAPITAL DISCLOCURE IN INDONESIAN
Dezie L. Warganegara
BINUS Business School-BINUS University
Jl. Hang Lekir I No. 6 Jakarta, 12120
Telp. +62 21 720 2222; Fax. +62 21 720 5555
The objective of this study was to investigate the effects of multinational underwriters on intellectual capital disclosure in Indonesian IPO prospectuses. Intellectual capital disclosure practices were driven by the advice of underwriters. Multinational underwriters had a greater capacity to produce more relevant information so it reduced the information gap for IPO market participants. The information included IC disclosure practices in IPO prospectuses. This study found that the nationality of underwriting firms positively affected the extent of intellectual capital disclosure in Indonesian IPO prospectuses. Exposure to IPOs in other countries and the ability to combine dispersed knowledge across their international branches seemed to have a positive effect on multi-national underwriting firms in as much as it led to a higher standard of disclosure of intellectual capital than that of local underwriting firms.
Key words: intellectual capital disclosure, IPO, prospectus, multinational underwriter