PENGARUH INTELLECTUAL CAPITAL TERHADAP ABNORMAL RETURN SAHAM DAN KINERJA KEUANGAN (STUDI PADA PERUSAHAAN PERBANKAN DI BURSA EFEK INDONESIA TAHUN 2011-2015)
ABSTRACT: The purpose of
this study was to examine the effect of intellectual capital to abnormal stock
return and financial perfomance of banking firms. The abnormal stock return was
measured by cumulative abnormal return (CAR), and average abnormal return
(AAR), the company’s financial perfomance measured by return on assets (ROA),
assets turn over (ATO) and growth in revenue (GR). Laten variables used in this
study was the perfomance of intellectual capital as measured by VAICTM (VACA,
VAHU, STVA). The sample study was using banking company listed in Indonesia
Stock Exchange (IDX) for 2011-2015. Research data using purposive sampling
method. Data obtained amounted to 75 companies in the period 2011-2015. This
study uses PLS version 3.0 to analyze the data. The result showed that
significant intellectual capital positive significantly effect the abnormal
stock return and financial perfomance that measured by CAR, AAR, ROA and ATO,
but no effect on GR. Overall, this research found that structural capital
(STVA) gives the most contribution in creating value added of the company.
Keywords: intellectual
capital, cumulative abnormal return (CAR), and average abnormal return (AAR),
return on assets (ROA), assets turn over (ATO), growth in revenue (GR)
Penulis: Nanda Entika
Paradesia, Zainal Ilmi, Maryam Nadir
