PENGARUH INTELLECTUAL CAPITAL TERHADAP NILAI PERUSAHAAN DENGAN KINERJA KEUANGAN SEBAGAI VARIABEL INTERVENING

This study aims to analyze the effect of Intellectual Capital on firm value with financial performance as an intervening study variable in manufacturing companies listed on the Indonesia Stock Exchange (BEI) in 2015-2019. In this study, a sample of 375 companies using purposive sampling. In the first equation, there are 357 manufacturing company data companies. In the second equation, there are 352 manufacturing company data companies. The difference in the number of manufacturing company data used as the research sample is due to meeting the assumptions of the feasibility of the regression model in the first and second research models, so that outlier data in the first and second equations need to be eliminated. The analysis tools used are SPSS 22 and Eviews 8. This study provides the results that Intellectual Capital has a significant positive effect on financial performance, financial performance has a significant positive effect on firm value, the effect of Intellectual Capital on firm value, Intellectual Capital has a positive and significant effect on firm value through financial performance as an intervening variable.