Influence of Intellectual Capital on Company Performance of Banks and Insurance Companies in Indonesian Stock Exchange 2010-2014

Abstract

The phenomenon of intellectual capital has grown after the change of economic characteristics that were previously based on labor into a knowledge-based economy. This study aimed to analyze the company's intellectual capital in the banks and insurance companies. The effect of intellectual capital on the financial performance of companies was tested using panel data for companies listed in the Indonesian Stock Exchange (BEI) 2010-2014. The selection for sample used purposive sampling method. This study used a model of Value Added Intellectual Coefficients (VAIC) to measure intellectual capital. Ratio analysis used to measure the financial performance. Return on Assets (ROA) used as profitability variable and Assets Turn Over (ATO) used as productivity variable. The results of this study indicated that the contribution of intellectual capital depended on the type of industry.

Keywords: intellectual capital, VAIC, financial sector, Indonesian stock exchange