Main Article Content
Abstract
This research was conducted to examine the influence of intellectual capital on investor’s reaction. The data used in this research was annual report of banking company listed in Bursa Efek Indonesia for the year 2008-2013. There are 16 companies taken as sample, and obtained by purposive sampling method. The statistics method used was simple and multiple linear regressions. The result suggested that intellectual capital had positive influence on investor’s reaction and its each component also had similar result. This indicates that inte-llectual capital recognized as an important resource in the creation of value for the banking companies in Indonesia.
Abstrak
Penelitian ini bertujuan untuk menguji pengaruh intellectual capital dan masing-masing elemennya terhadap reaksi investor. Data yang di-gunakan dalam penelitian ini adalah data sekunder berupa laporan ta-hunan yang diperoleh dari Burssa Efek Indonesia (BEI), dengan sam-pel perusahaan perbankan yang terdaftar di BEI pada tahun 2008-2013. Metode pengambilan sampel menggunakan purposive sampling, dan diperoleh sebanyak 16 sampel yang memenuhi kriteria. Teknik analisis data menggunakan metode statistik regresi sederhana dan ber-ganda. Hasil penelitian menunjukkan bahwa variabel intellectual capi-tal berpengaruh positif terhadap reaksi investor, dan pengaruh tiap elemennya juga menunjukkan hasil yang sama. Hal ini mengindika-sikan bahwa intellectual capital diakui sebagai sumber daya yang pen-ting dalam proses penciptaan nilai bagi perusahaan perbankan di Indo-nesia.
Article Details
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References
- Artinah, B. dan A. Muslih. (2011). Pengaruh Intellec-tual Capital terhadap Capital Gain (Studi Empiris terhadap Perusahaan Perbankan yang terdaftar di Bursa Efek Indonesia). Jurnal Spread Vol. 1, No. 1, hlm 9-22.
- Astuti, P. D. dan A. Saberi. (2005). Hubungan Inte-llectual Capital dan Business Performance de-ngan Diamond Specification: Sebuah Perspek-tif Akuntansi. Makalah Seminar Nasional A-kuntansi VIII Solo: hlm 694-707.
- Belkaoui, A. R. (2003). Intellectual Capital and Firms Performance of US Multinational Firms. Jour-nal of Intellectual Capital Vol. 4, No. 2, pp 215-226.
- Bontis, N. (1998). Intellectual Capital: An Exploratory Study that Develops Measures and Models. Management Decision Vol. 36, No. 2, pp 63-76.
- Bontis, N., W. C. C. Keow, and S. Richardson. (2000). Intellectual Capital and Business Per-formance in Malaysian Industries. Journal of Intellectual Capital Vol. 1, No. 1, pp 85-100.
- Chen, M. C., S. J. Cheng, and Y. Hwang. (2005). An Empirical Investigation of the Relationship bet-ween Intellectual Capital and Firms’ Market Value and Financial Performance. Journal of Intellectual Capital Vol. 6, No. 2, pp 159-176.
- Firer, S. and S. M. Williams. (2003). Intellectual Ca-pital and Traditional Measures of Corporate Performance. Journal of Intellectual Capital Vol. 4, No. 3, pp 348-360.
- Halim. (2003). Teknologi Informasi Indonesia dalam Sorotan. eBizz Asia. Vol. 1, No. 11. www.ebizzasia.com/eBizzAsiaV02/.
- Jogiyanto, H.M. (2003). Teori Protofolio dan Analisis Investasi. Edisi Ketiga. Yogyakarta: BPFE.
- Joia, L. A. (2000). Measuring Intangible Corporate Assets Linking Business Strategy with Intellec-tual Capital. Journal of Intellectual Capital Vol. 1, No.1, pp 68-84.
- Kehelwalatenna, S and P.S.M. Gunaratne. (2010). The Impact of Intellectual Capital on the Firm Per-formance and Investor Response: an Empirical Study of Selected Sectors in Colombo Stock Exchange. www.kln.ac.lk/uokr/icbi_2010.html.
- Kin, H. C. (2009). Impact of Intellectual Capital on Organizational Performance. The Learning Or-ganization Vol. 16, No. 1, pp 4-21.
- Mavridis, D.G. (2004). The Intellectual Capital Per-formance of the Japanese Banking Sector. Journal of Intellectual Capital Vol. 5, No. 1, pp 92-115.
- Melani, E. (2010). Intellectual Capital dan Penga-ruhnya terhadap Nilai Perusahaan (Studi pada Perusahaan Jasa Keuangan yang Terdaftar di Bursa Efek Indonesia). Laporan Penelitian Tidak Dipublikasikan. Politeknik Negeri Ma-lang.
- Miller, M. (1999). Measuring and Reporting Intellec-tual Capital from a Diverse Canadian Industry Perspective. Proceeding of International Sym-posium Measuring and Reporting Intellectual Capital. Amsterdam.
- Mouritsen, J. and H.T Larsen. (2001). Reading an Intellectual Capital Statement: Describing and Prescribing Knowledge Management Strate-gies. Journal of Intellectual Capital Vol. 2, No. 4, pp 359-383.
- Muhammad, N., N. Maheran and M. K. A. Ismail. (2009). Intellectual Capital Efficiency and Firm’s Performance: Study on Malaysian Fi-nancial Sectors. International Journal for Eco-nomics and Finance Vol. 1, No.2, pp 206-212.
- Pek, C. G. (2005). Intellectual Capital Performance of Commercial Banks in Malaysia. Journal of Intellectual Capital Vol. 6, No. 3, pp 385-396.
- Pulic, A. (1998). Measuring the Performance of Inte-llectual Potential in Knowledge Economy. www.vaic_on.net/start.htm.
- Tseng, C. Y. and Y. J. Goo. (2005). Intellectual Capital and Corporate Value in an Emerging Economy: Empirical Study of Taiwanese Ma-nufacturers. R & D Management Vol. 35, No. 2, pp 187-201.
- Ulum, I., I Ghozali, dan A. Choriri. (2008). Intellec-tual Capital dan Kinerja Keuangan Perusaha-an: Suatu Analisis dengan Pendekatan Partial Least Squares. Makalah Seminar Nasional A-kuntansi XI Pontianak.
- William, S. M. (2001). Is Intellectual Capital Perfor-mance and Disclosure Practices Related?. Jour-nal of Intellectual Capital Vol. 2, No. 3, pp 192-203.
References
Artinah, B. dan A. Muslih. (2011). Pengaruh Intellec-tual Capital terhadap Capital Gain (Studi Empiris terhadap Perusahaan Perbankan yang terdaftar di Bursa Efek Indonesia). Jurnal Spread Vol. 1, No. 1, hlm 9-22.
Astuti, P. D. dan A. Saberi. (2005). Hubungan Inte-llectual Capital dan Business Performance de-ngan Diamond Specification: Sebuah Perspek-tif Akuntansi. Makalah Seminar Nasional A-kuntansi VIII Solo: hlm 694-707.
Belkaoui, A. R. (2003). Intellectual Capital and Firms Performance of US Multinational Firms. Jour-nal of Intellectual Capital Vol. 4, No. 2, pp 215-226.
Bontis, N. (1998). Intellectual Capital: An Exploratory Study that Develops Measures and Models. Management Decision Vol. 36, No. 2, pp 63-76.
Bontis, N., W. C. C. Keow, and S. Richardson. (2000). Intellectual Capital and Business Per-formance in Malaysian Industries. Journal of Intellectual Capital Vol. 1, No. 1, pp 85-100.
Chen, M. C., S. J. Cheng, and Y. Hwang. (2005). An Empirical Investigation of the Relationship bet-ween Intellectual Capital and Firms’ Market Value and Financial Performance. Journal of Intellectual Capital Vol. 6, No. 2, pp 159-176.
Firer, S. and S. M. Williams. (2003). Intellectual Ca-pital and Traditional Measures of Corporate Performance. Journal of Intellectual Capital Vol. 4, No. 3, pp 348-360.
Halim. (2003). Teknologi Informasi Indonesia dalam Sorotan. eBizz Asia. Vol. 1, No. 11. www.ebizzasia.com/eBizzAsiaV02/.
Jogiyanto, H.M. (2003). Teori Protofolio dan Analisis Investasi. Edisi Ketiga. Yogyakarta: BPFE.
Joia, L. A. (2000). Measuring Intangible Corporate Assets Linking Business Strategy with Intellec-tual Capital. Journal of Intellectual Capital Vol. 1, No.1, pp 68-84.
Kehelwalatenna, S and P.S.M. Gunaratne. (2010). The Impact of Intellectual Capital on the Firm Per-formance and Investor Response: an Empirical Study of Selected Sectors in Colombo Stock Exchange. www.kln.ac.lk/uokr/icbi_2010.html.
Kin, H. C. (2009). Impact of Intellectual Capital on Organizational Performance. The Learning Or-ganization Vol. 16, No. 1, pp 4-21.
Mavridis, D.G. (2004). The Intellectual Capital Per-formance of the Japanese Banking Sector. Journal of Intellectual Capital Vol. 5, No. 1, pp 92-115.
Melani, E. (2010). Intellectual Capital dan Penga-ruhnya terhadap Nilai Perusahaan (Studi pada Perusahaan Jasa Keuangan yang Terdaftar di Bursa Efek Indonesia). Laporan Penelitian Tidak Dipublikasikan. Politeknik Negeri Ma-lang.
Miller, M. (1999). Measuring and Reporting Intellec-tual Capital from a Diverse Canadian Industry Perspective. Proceeding of International Sym-posium Measuring and Reporting Intellectual Capital. Amsterdam.
Mouritsen, J. and H.T Larsen. (2001). Reading an Intellectual Capital Statement: Describing and Prescribing Knowledge Management Strate-gies. Journal of Intellectual Capital Vol. 2, No. 4, pp 359-383.
Muhammad, N., N. Maheran and M. K. A. Ismail. (2009). Intellectual Capital Efficiency and Firm’s Performance: Study on Malaysian Fi-nancial Sectors. International Journal for Eco-nomics and Finance Vol. 1, No.2, pp 206-212.
Pek, C. G. (2005). Intellectual Capital Performance of Commercial Banks in Malaysia. Journal of Intellectual Capital Vol. 6, No. 3, pp 385-396.
Pulic, A. (1998). Measuring the Performance of Inte-llectual Potential in Knowledge Economy. www.vaic_on.net/start.htm.
Tseng, C. Y. and Y. J. Goo. (2005). Intellectual Capital and Corporate Value in an Emerging Economy: Empirical Study of Taiwanese Ma-nufacturers. R & D Management Vol. 35, No. 2, pp 187-201.
Ulum, I., I Ghozali, dan A. Choriri. (2008). Intellec-tual Capital dan Kinerja Keuangan Perusaha-an: Suatu Analisis dengan Pendekatan Partial Least Squares. Makalah Seminar Nasional A-kuntansi XI Pontianak.
William, S. M. (2001). Is Intellectual Capital Perfor-mance and Disclosure Practices Related?. Jour-nal of Intellectual Capital Vol. 2, No. 3, pp 192-203.