The Role of Intellectual Capital in Improving the Company's Financial Performance: Empirical Study on Food and Beverage Companies in Indonesia Stock Exchange
DOI:
https://doi.org/10.47768/gema.v16i2.202405Keywords:
Intellectual Capital, Financial performance, Food and beverage sectorAbstract
In addition to providing a competitive advantage, intellectual resources are an important component in business progress. The method of observing the Value-Added Intellectual Coefficient (VAIC), Value-Added Capital Employed (VACA), Value Added Human Capital (VAHU), and Structural Capital Value Added (STVA) variables in the company's capital structure can improve the company's financial performance by increasing its profitability. Therefore, this study focuses more on how intellectual property impacts the financial performance of manufacturing companies listed on the Indonesia Stock Exchange from 2017 to 2020. Quantitative method that uses regression analysis on panel data. By using purposive sampling method, the research sample includes twelve companies. The results showed that STVA had no significant impact on Return on Assets (ROA), but VACA and VAHU had a significant impact. For future research, variables and years of research will be added, and this conclusion shows how important Intellectual Capital management is to improve the financial performance of the company. To improve financial performance and efficiency, businesses should increase investment and management of Intellectual Capital. The recommendation for future research is to conduct more in-depth research by considering other factors that may affect the financial performance of businesses. In addition, the research sample should be expanded so that the findings can be generalized.
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