Capital Structure and Ownership: Intellectual Capital Disclosure Indicator

Abstract

The purpose of this paper is to examine the most significant determinants of the intellectual capital of manufacturing firms in Indonesia. Furthermore, using a regression model, it investigates whether the models proposed can provide the same explanation in Europe as in Indonesia. Multiple regression models were used during this study. Ten variables were tested statistically, using e-views of samples of 176 manufacturing companies listed on the Indonesia Stock Exchange during this study. The results indicate that leverage, audit committee, company size, and the independent board positively influence intellectual capital disclosure. However, leverage has a negative effect on firm size. These findings comply with the pecking order and financial agency theory, which helps understand the application of various studies on value for firms in Indonesia. This research was able to explore the IC determinants of manufacturing firms. However, more detailed evaluations could be conducted.

Faktor-Faktor yang Memengaruhi Produktivitas dan Nilai Pasar pada Perusahaan Garmen dan Tekstil yang Tercatat di Bursa Efek Indonesia

“…Pada pengukuran model VAIC tidak melalui indikator secara langsung, tapi adanya asumsi modal struktural sebagai selisih dari value added dan human capital. Asumsi tersebut menyebabkan indikator modal struktural seperti riset dan pengembangan (R&D) dan periklanan yang berpotensi meningkatkan produktivitas dijadikan sebagai beban dan tidak dimasukkan sebagai bagian dari beban (Hersugondo & Handriani, 2020). Temuan diperkuat dengan penelitian yang menyatakan bahwa modal struktural memiliki pengaruh postif dan tidak signifikan terhadap produktivitas perusahaan (Khairiyansyah, K., Vebtasvili, 2018;Nurfaizah, S., Dalam, 2022).…”