PENGARUH INTELLECTUAL CAPITAL (VAIC) TERHADAP KINERJA KEUANGAN PADA SUB SEKTOR MANUFAKTUR
DOI:
https://doi.org/10.31539/bh1bhk30Keywords:
Intellectual Capital, Kinerja Keuangan, Return on Equity, Indutri Makanan dan Minuman.Abstract
Penelitian ini menganalisis Pengaruh Intellectual Capital terhadap Kinerja Keuangan Perusahaan Manufaktur sub sektor makanan dan minuman yang terdaftar di Bursa Efek Indonesia periode 2020-2024. Intellectual Capital diukur menggunakan Value Added Intellectual Coefficient (VAIC) yang terdiri dari tiga komponen: Value Added Capital Employed (VACE), Value Added Human Capital (VAHU), dan Structural Capital Value Added (STVA). Kinerja keuangan diukur menggunakan Return on Equity (ROE). Penelitian menggunakan metode regresi linier berganda dengan 26 sampel perusahaan dan130 observasi data. Hasil penelitian menunjukkan bahwa ketiga komponen intellectual capital berpengaruh positif dan signifikan terhadap ROE, VACE memberikan kontribusi terbesar β = 0.478; p=0,000), diikuti VAHU (β=0,367; p=0,011) dan STVA (β=0,289; p=0.007). Model penelitian memiliki Adjusted R2 sebesar 0,495, menunjukkan bahwa 49,5% variasi ROE dapat dijelaskan oleh ketiga variabel independent. Temuan ini mengkonfirmasi bahwa intellectual capital merupakan determinan signifikan terhadap financial performance dalam industry manufaktur, terutama di sektor makanan dan minuman yang bersifat capital-intensive.
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