Andi Wijayanto
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THE EFFECT OF INTELLECTUAL CAPITAL ON FINANCIAL PERFORMANCE OF INNOVATIVE MANUFACTURING COMPANIES IN INDONESIA: THE MEDIATING EFFECTS OF COMPETITIVE ADVANTAGE Andi Wijayanto; Suhadak Suhadak; Moch. Dzulkirom; Nila Firdausi Nuzula
UNEJ e-Proceeding the 3rd International Conference on Economics, Business, and Accounting Studies
Publisher : UPT Penerbitan Universitas Jember

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Abstract

In the era of knowledge economy, Intellectual Capital is an important factor for corporate competitive advantage and higher Financial Performance. This study aims to examine the mediating effect of Competitive Advantage on the influence of Intellectual Capital on Financial Performance. The study was conducted on 31 innovative manufacturing companies listed on the Indonesia Stock Exchange. Innovative manufacturing companies are companies that demonstrate a commitment to conducting research and development activities. The data analyzed was data from 2011-2016. Data analyzed used Generalized Structured Component Analysis (GSCA). The mediating effect of Competitive Advantage was tested used Sobel Test. The result of this research concludes that Intellectual Capital has positive and significant influence on Competitive Advantage, Intellectual Capital has positive and significant influence on Financial Performance, and Competitive Advantage has negative and significant effect on Financial Performance. Competitive Advantage significantly mediates the influence of Intellectual Capital on Financial Performance.
PENGARUH PROFITABILITAS TERHADAP NILAI PERUSAHAAN MELALUI KEBIJAKAN DIVIDEN SEBAGAI VARIABEL INTERVENING (Studi pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia Periode 2012-2016) Zulfa Afifatul Azhar; Andi Wijayanto
Jurnal Ilmu Administrasi Bisnis Vol 7, No 4 (2018)
Publisher : Universitas Diponegoro

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (496.612 KB) | DOI: 10.14710/jiab.2018.21918

Abstract

This study aims to determine the effect of profitability on firm value through dividend policy as intervening variable. The population in this study were 133 manufacturing companies listed on the Indonesia Stock Exchange in 2012-2016. The data used in this study is secondary data in the form of Corporate Financial Statements that have been published through the Indonesia Stock Exchange. The total sample that meets the criteria in this research is 17 manufacturing companies. The results showed that partially profitability has a positive and significant influence on firm value. Profitability has a positive and significant influence on dividend policy. Furthermore, dividend policy also has a positive and significant impact on company value. In stimulant, profitability variable and dividend policy have significant effect to firm value. Based on the sobel test, it is known that the dividend policy variable as the intervening variable can mediate the relationship between profitability variable and firm value.