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PENGARUH INTELLECTUAL CAPITAL TERHADAP NILAI PERUSAHAAN DAN KINERJA KEUANGAN SEBAGAI VARIABEL INTERVENING
This research is meant to find out the influence of intellectual capital which includes VAHU, STVA and VACA to the firm value through financial performance) as the intervening variable on commercial banks which are listed in the IDX. The research samples are 78 banks with 3 year periods from 2013 to 2015 so the total samples are 78 banks. The sample collection has been done by using purposive sampling method. This research has been done by using quantitative approach and conducting hypothesis by using path analysis technique which has been done by performing linear regression analysis test. The result of t test shows that model 1 states that intellectual capital which includes STVA and VACA gives positive and significant influence to the financial performance (ROA) as the intervening variable. Meanwhile VAHU variable gives negative influence to the financial performance. The result of t test on model 2 states that intellectual capital which includes VAHU, VACA and financial performance gives positive and significant influence to the firm value. Meanwhile, the STVA variable does not give any significant influence to the firm value. The result of path analysis shows that financial performance mediates the correlation between intellectual capital and firm value.
Keywords: VAHU, STVA, VACA, ROA, PBV
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