During the Covid-19 pandemic, in general, Indonesian pharmaceutical industry experienced negative growth, however, there were some companies who reported higher profits. One of the resources contributing to company performance is Intellectual Capital (IC). This research aims to analyze the influence of IC and Total Asset Turnover (TATO) towards performance with Research and Development Intensity (RDI) as a moderating variable. Company performance is measured by Return on Equity (ROE), while IC is measured by its three components: Capital Employed Efficiency (CEE), Human Capital Efficiency (HCE), and Structural Capital Efficiency (SCE). This research uses quantitative approach by analyzing secondary data obtained from published financial reports during 2015-2021 period. This research empirically proves that HCE and SCE have no significant influence towards ROE, even after being moderated by RDI. CEE positively and significantly influences ROE, however, the influence will be insignificant after RDI moderation. TATO has negative and significant influence towards ROE, however, the RDI moderation will turn the influence into positive. Keywords: capital employed efficiency; intellectual capital; R&D intensity; return on equity. Selama masa pandemi Covid-19, secara umum industri farmasi di Indonesia mengalami pertumbuhan negatif, akan tetapi terdapat beberapa perusahaan yang mencatatkan laba lebih tinggi. Salah satu sumber daya perusahaan farmasi yang berkontribusi terhadap kinerja adalah Intellectual Capital (IC). Penelitian ini bertujuan untuk menganalisis pengaruh IC dan Total Asset Turnover (TATO) terhadap kinerja dengan dimoderasi oleh Research and Development Intensity (RDI). Kinerja perusahaan diukur menggunakan Return on Equity (ROE), sedangkan IC diukur dengan menggunakan tiga komponen yang membentuknya: Capital Employed Efficiency (CEE), Human Capital Efficiency (HCE), dan Structural Capital Efficiency (SCE). Penelitian ini menggunakan pendekatan kuantitatif dengan mengolah data sekunder yang didapat dari laporan keuangan yang dipublikasikan pada periode 2015-2021. Hasil penelitian menunjukkan bahwa HCE dan SCE tidak mempengaruhi ROE secara signifikan baik sebelum maupun sesudah dimoderasi oleh RDI. CEE berpengaruh positif dan signifikan terhadap ROE sebelum dimoderasi oleh RDI, namun pengaruh tersebut menjadi tidak signifikan setelah dimoderasi oleh RDI. TATO memiliki pengaruh negatif dan signifikan terhadap ROE sebelum dimoderasi oleh RDI, namun pengaruh tersebut berubah menjadi positif dan signifikan setelah dimoderasi oleh RDI. Kata kunci: modal intelektual; capital employed efficiency; R&D intensity; return on equity.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.
customersupport@researchsolutions.com
10624 S. Eastern Ave., Ste. A-614
Henderson, NV 89052, USA
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Copyright © 2024 scite LLC. All rights reserved.
Made with 💙 for researchers
Part of the Research Solutions Family.