Effect of Intellectual Capital of the Company with Market Value of Financial Performance as an Intervening Variable

Abstract

In general, a company's success is determined by the use of physical capital efficiently. However, in the new economic era, intellectual capital is the basis for the success of a company so as to enhance the company's market value. This study aimed to examine the effect of intellectual capital on the market value of companies with the financial performance of the company as an intervening variable. The population in this study is a company listed on the Indonesia Stock Exchange (BEI) in the period 2010-2014. Samples of this study were selected using judgment sampling method and obtained 199 companies that met the study criteria. Data were analyzed using Partial Least Square (PLS). The results showed that (1) intellectual capital significant negative effect on the market value of the company. (2) Intellectual capital significant positive effect on financial performance. (3) the financial performance of companies successfully mediate in part the influence of intellectual capital on the market value of the company.

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