PERANAN INTELLECTUAL CAPITAL, PROFITABILTIAS, DAN LIKUIDITAS TERHADAP NILAI PERUSAHAAN
DOI:
https://doi.org/10.51903/xcz9tw20Keywords:
intellectual capital, profitability, liquidity, firm valueAbstract
The increase in the number of investors and the recovery of the economy and capital markets in Indonesia after the Covid-19 pandemic has made companies compete with each other in maximizing their company value. Competition to maximize company value also occurs in companies included in the Kompas100 index, where the company index reflects most of the national stock capitalization. Although the Kompas100 Index has a large capitalization, the average trend of PBV values in the index actually shows a decline. With this decline, therefore testing the role of intellectual capital, profitability, and liquidity in influencing company value in Kompas100 Index service companies for the 2019-2023 period is the purpose of this study. Purposive sampling is applied in this study as a sampling method, with a total of 28 service companies included in the Kompas100 index with a total sample unit of 140 sample units. Multiple linear regression analysis is applied as a hypothesis test in this study. This study obtained results in the form of a positive and significant role caused by intellectual capital, profitability and liquidity on company value partially.
References
[1] Kustodian Sentral Efek Indonesia, “Membangun Pasar Modal yang Terpercaya dan Inklusif Menuju Indonesia Emas,” 2024.
[2] K. P. Nugraha, G. S. Budiwitjaksono, and D. Suhartini, “Peran Kebijakan Dividen Dalam Memoderasi Profitabilitas Dan Likuiditas Terhadap Nilai Perusahaan,” 2020. [Online]. Available: www.idx.co.id
[3] F. Udjali et al., “Analisis Pengaruh Return On Asset, Return On Equity, Debt To Equity Ratio Dan Earning Per Share Terhadap Nilai Perusahaan Pada Indeks Lq-45 Di Bursa Efek Indonesia,” vol. 9, no. 2, pp. 1155–1166, 2021.
[4] H. Adeliani and Roosdiana, “Pengaruh Return on Asset, Devidend Payout Ratio dan Price Earning Ratio terhadap Nilai Perusahaan,” Jurnal IKRAITH-EKONOMIKA , vol. 5, Jul. 2022.
[5] Bursa Efek Indonesia, “Perdagangan BEI Tahun 2024 Resmi Dibuka oleh Wakil Presiden Republik Indonesia dan Mencapai Rekor IHSG,” Jakarta, Jan. 2024.
[6] M. Mukhtaruddin, Y. Saftiana, E. Riani, E. Y. Siska, and F. Yamaly, “Market Performance: The Effect Of Intellectual Capital And Intellectual Capital Disclosure,” JRAK, vol. 15, no. 2, pp. 287–295, Oct. 2023, doi: 10.23969/jrak.v15i2.9593.
[7] R. Nur Oktaviani and Edi Sukarmanto, “Pengaruh Intellectual Capital terhadap Nilai Perusahaan dengan Kinerja Keuangan sebagai Variabel Intervening,” Bandung Conference Series: Accountancy, vol. 3, no. 1, Jan. 2023, doi: 10.29313/bcsa.v3i1.6360.
[8] J. E. Pambudi, “Pengaruh Debt To Equity Ratio, Earning Per Share, Intellectual Capital, Managerial Ownership Dan Institutional Ownership Terhadap Market Value Added,” Dynamic Management Journal , vol. 7, no. 1, 2023.
[9] A. S. Putri and D. Miftah, “Pengaruh Intellectual Capital, Leverage, Profitabilitas, dan Likuiditas Terhadap Nilai Perusahaan,” Jurnal Kajian Akuntansi dan Bisnis Terkini, vol. 2, no. 2, pp. 259–277, Jul. 2021.
[10] L. Suzan and N. I. Ramadhani, “Firm Value Factors: The Effect Of Intellectual Capital, Managerial Ownership, And Profitability,” Jurnal Akuntansi, vol. 27, no. 3, pp. 401–420, Sep. 2023, doi: 10.24912/ja.v27i3.1487.
[11] F. Chirairo and M. H. Molele, “Intellectual capital impact on firm value-An integrated reporting approach for Johannesburg Stock Exchange listed companies,” 2024, doi: 10.5281/zenodo.12608121.
[12] Lindawati and Yulianto, “Pengaruh Intellectual Capital Terhadap Nilai Perusahaan Dengan Kinerja Keuangan Sebagai Variabel Intervening (Studi Kasus Pada Perusahaan Yang Tergabung Dalam Jakarta Islamic Index),” 2021.
[13] A. M. Latifah, M. N. Majid, and F. S. Tanjung, “Pengaruh Likuiditas dan Solvabilitas Terhadap Kinerja Keuangan pada Bank yang Terdaftar di Bursa Efek Indonesia Periode 2021,” Jurnal Mutiara Ilmu Akuntansi (JUMIA), vol. 1, Mar. 2022.
[14] N. D. Lestari, A. Zulianto, and M. Hulaika, “Pengaruh Variabel Islamic Social Reporting (ISR) Dan Returnon Equity (ROE) Terhadap Returnsaham Melalui Variabel Intervening Beta Saham (Studi Pada Perusahaan Sektor Perindustrian Yang Tercatat Di Issi Periode 2018-2020),” Jurnal income, vol. 4, no. 1, 2023.
[15] T. Z. Ramadhanti, Mardi, and I. G. K. A. Ulupu, “The Effect Of Return On Equity And Debt To Equity Ration On Sharia Stock Return With Instituitonal Ownership As A Moderating Variable,” vol. 2, 2023.
[16] T. Herninta, “Faktor-Faktor Yang Mempengaruhi Nilai Perusahaan Manufaktur Di Bursa Efek Indonesia,” ESENSI: Jurnal Manajemen Bisnis, vol. 22, no. 3, pp. 325–336, 2019.
[17] R. Reschiwati, A. Syahdina, and S. Handayani, “Effect of Liquidity, Profitability, and Size of Companies on Firm Value,” Utopía y Praxis Latinoamericana, vol. 25, no. 6, pp. 325–332, 2020.
[18] N. Virolita and I. Yuliana, “Pengaruh Roe Terhadap Nilai Perusahaan Dengan Struktur Modal Sebagai Variabel Moderating (Sub Sektor Makanan Minuman Tahun 2016-2018),” 2020.
[19] E. Rahim, “Pengaruh Keputusan Investasi, Return On Asset (ROA) dan Return On Equity (ROE) Terhadap Nilai Perusahaan Pada Sektor Perbankan Yang Terdaftar di Bursa Efek Indonesia Periode 2010 – 2017,” Jurnal SEKURITAS (Saham, Ekonomi, Keuangan dan Investasi ), vol. 3, no. 2, Jan. 2020.
[20] R. Handayani, “Effects of Tax Avoidance and Financial Performance on Firm Value,” International Journal of Management Studies and Social Science Research, vol. 2, no. 5, pp. 159–168, 2020.
[21] W. Yuvia and H. Wijaya, “Pengaruh Profitabilitas, Likuiditas, Dan Struktur Modal Terhadap Nilai Perusahaan,” Jurnal Multiparadigma Akuntansi, vol. 5, no. 1, pp. 491–501, Jan. 2023.
[22] E. V. L. Gaol, “Pengaruh Profitabilitas dan Likuiditas Terhadap Nilai Perusahaan,” Polimedia, vol. 24, no. 4, Nov. 2021.
[23] S. A. Ross, “The Determination of Financial Structure: The Incentive-Signalling Approach,” 1977.
[24] E. F. Brigham and J. F. Houston, Fundamental of Financial Management , 15th ed. Boston: Cengage Learning, Inc., 2019.
[25] M. C. Ginting and L. Sagala, “Pengaruh Modal Intelektual Terhadap Nilai Perusahaan (Studi Kasus Pada Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia Periode Tahun 2017-2019),” Jurnal Manajemen, vol. 6, no. 2, Dec. 2020.
[26] F. Mahayati, S. Fatonah, and R. Meilisa, “Pengaruh Return On Equity (ROE) dan Debt To Equity Ratio (DER) Terhadap Nilai Perusahaan (PBV) Pada Perusahaan Manufaktur Sub Sektor Logam dan Sejenisnya yang Terdaftar di BEI ,” Jurnal Ilmiah Ilmu Manajemen dan Kewirausahaan, vol. 1, no. 1, Jan. 2021.
[27] H. Sutomo and R. Budiharjo, “The Effect of Dividend Policy and Return on Equity on Firm Value,” International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 9, no. 3, Oct. 2019, doi: 10.6007/IJARAFMS/v9-i3/6364.
[28] I. Fahmi, Analisis Laporan Keuangan. Bandung: Alfabeta, 2020.
[29] D. K. Sari, S. Hermawan, H. Fitriyah, and Nurasik, “Does Profitability, Firm Size, and Intellectual Capital Affect Firm Value?,” Jurnal Riset Akuntansi Terpadu, vol. 15, no. 2, pp. 195–209, 2022.
[30] I. Ulum, Intellectual Capital : Model Pengukuran, Framework, Pengungkapan & Kinerja Organisasi. UMMPress, 2017.
[31] M. Jihadi, E. Vilantika, S. M. Hashemi, Z. Arifin, Y. Bachtiar, and F. Sholichah, “The Effect of Liquidity, Leverage, and Profitability on Firm Value: Empirical Evidence from Indonesia,” Journal of Asian Finance, Economics and Business, vol. 8, no. 3, Feb. 2021.
[32] E. Dessyla and M. Susanti, “Pengaruh Capital Structure, Firm Size, Intellectual Capital Dan Profitability Terhadap Firm Value,” Jurnal Multiparadigma Akuntansi, vol. 6, no. 2, pp. 733–742, 2024.
[33] D. C. Pangestuti, A. Muktiyanto, I. Geraldina, and Darmawan, “Role of Profitability, Business Risk and Intellectual Capital in Increasing Frim Value,” Journal of Indonesian Economy and Business, vol. 37, no. 3, pp. 311–338, 2022.
[34] M. O. D. Putri and I. Gst. Bgs. Wiksuana, “The Effect Of Liquidity And Profitability On Firm Value Mediated By Dividend Policy ,” American Journal of Humanities and Social Sciences Research (AJHSSR), vol. 5, no. 1, pp. 204–212, 2021.
[35] S. Levina and E. S. Dermawan, “Pengaruh Profitabilitas, Likuiditas, Solvabilitas, Aktivitas, Dan Kebijakan Dividen Terhadap Harga Saham ,” Jurnal Multiparadigma Akuntansi, vol. 1, no. 2, pp. 381–389, 2019.
[36] A. H. R. J. Eden and Y. Yuniningsih, “The role of profitability in moderating the effect of leverage, liquidity, and firm size on firm value,” World Journal of Advanced Research and Reviews, vol. 23, no. 2, pp. 1044–1050, Aug. 2024, doi: 10.30574/wjarr.2024.23.2.2239.
[37] P. R. S. Tanjung, “The Effect Of Financial Distress, Profitability And Current Ratio On Firm Value,” EPRA International Journal of Economics, Business and Management Studies, pp. 142–153, Feb. 2023, doi: 10.36713/epra12309.
Downloads
Published
Issue
Section
License
Copyright (c) 2025 Dinamika: Jurnal Manajemen Sosial Ekonomi
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
