Pengaruh Green Intellectual Capital Dan Financial Sustainability Terhadap Nilai Perusahaan
Keywords:
Green Human Capital, Green Structural Capital, Green Relational Capital, Financial Sustainability, Company Value
Abstract
Penelitian ini didasarkan terhadap permasalahan terkait dengan Nilai Perusahaan yang dipengaruhi oleh beberapa faktor, baik aspek keuangan maupun aspek non keuangan. Penelitian ini bertujuan untuk mengetahui apakah terdapat hubungan antara variabel Green Intellectual Capital, Green Human Capital, Green Structural Capital, Green Relational Capital, dan Financial Sustainability terhadap Nilai Perusahaan. Sampel yang digunakan dalam penelitian ini merupakan perusahaan sektor perbankan yang terdaftar pada Bursa Efek Indonesia serta menerbitkan Laporan Tahunan dan/atau Laporan Keberlanjutan pada periode 2020-2022 dengan teknik purposive sampling dalam pengambilan sampel. Berdasarkan hasil analisis yang dilakukan, diperoleh kesimpulan bahwa Green Intellectual Capital, Green Human Capital dan Green Relational Capital memiliki pengaruh positif terhadap Nilai Perusahaan. Sedangkan Green Structural Capital dan Financial Sustainability tidak memiliki pengaruh terhadap Nilai Perusahaan.
References
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Jayanti, D.L., & Binastuti, S. (2018). Pengaruh Intellectual Capital Terhadap Nilai Perusahaan Dengan Kinerja Keuangan Sebagai Variabel Intervening. Jurnal Ekonomi Bisnis, 22(3), 187-198
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Gantino, R., & Alam, L. R. (2021). Pengaruh Intellectual Capital dan Corporate Social Responsibility terhadap Nilai Perusahaan dimoderasi oleh Kinerja. Esensi: Jurnal Bisnis Dan Manajemen, 10(2), 215–230. https://doi.org/10.15408/ess.v10i2.18858
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Ghozali, Imam. 2020. Desain Penelitian Kuantitatif & Kualitatif Untuk Akuntansi, Bisnis, dan Ilmu Sosial Lainnya. Jakarta: Yoga Pratama
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Kurnia, D. (2019). Pengaruh Profitabilitas, Kebijakan Dividen dan Harga Saham Terhadap Nilai Perusahaan Pada Perusahaan Manufaktur di Provinsi Banten yang Terdaftar di Bursa Efek Indonesia periode 2009-2016. Jurnal Akuntansi: Kajian Ilmiah Akuntansi (JAK), 6(2), 178. https://doi.org/10.30656/jak.v6i2.1433
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Laili, C. N., Atim, D., & Nur, K. I. (2019). The Influence of Corporate Governance, Corporate Social Responsibility, Firm Size on Firm Value: Financial Per-formance as Mediation Variable. Universitas Brawijaya. Journal of Applied Management (JAM, 17(1), 179–186. https://doi.org/10.21776/ub.jam.2019.017.01.20
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Li, Y., & Zhao, Z. (2018). The dynamic impact of intellectual capital on firm value: evidence from China. Applied Economics Letters, 25(1), 19–23. https://doi.org/10.1080/13504851.2017.1290769
Muasiri, A. H., Sulistyowati, E., & Timur, J. (2021). Pengaruh Intellectual Capital dan Corporate Governance Terhadap Nilai Perusahaan Dengan Profitabilitas Sebagai Variabel Moderasi. Jurnal EK&BI, 4, 2620–7443. https://doi.org/10.37600/ekbi.v4i1.255
Natalia, T. (2023, 26 Agustus). Ribuan Tewas Akibat Polusi, Kualitas Udara Bikin Khawatir. Diakses pada 11 November 2023 dari https://www.cnbcindonesia.com/research/20230826181347-128-466374/ribuan-tewas-akibat-polusi-kualitas-udara-bikin-khawatir
Nguyen, A. H., & Doan, D. T. (2020). The impact of intellectual capital on firm value: Empirical evidence from Vietnam. International Journal of Financial Research, 11(4), 74–85. https://doi.org/10.5430/ijfr.v11n4p74
Nuradawiyah, A., Susilawati, S., & Muhammadiyah Jakarta, S. (2020). Analisis Faktor-Faktor yang Mempengaruhi Nilai Perusahaan (Studi Kasus Pada Perusahaan Indeks LQ45). Jurnal Akuntansi, 9(2), 218-232. https://doi.org/10.37932/ja.v9i2
Nurhikmah, S., & Rahim, R. (2021). Pengaruh Faktor Keuangan dan Non Keuangan terhadap Financial Sustainability Ratio Perbankan. Journal of Management and Business Review, 18(1), 25–47. https://doi.org/10.34149/jmbr.v18i1.214
Nurvita (2018), Pengaruh Financial Sustainability, Kebijakan Dividen, Keputusan Investasi, dan Profitabilitas Terhadap Nilai Perusahaan. ESENSI: Jurnal Manajemen Bisnis, 25(3), 283-297. https://doi.org/10.55886/esensi.v25i3.541
Pratama S., & Risma, D. (2022). Pengaruh pengungkapan corporate social responsibility terhadap institutional ownership pada perusahaan high-profile yang listing di bursa efek Indonesia. Jurnal Ekonomi, Keuangan Dan Manajemen, 18(3), 540. https://doi.org/10.29264/jinv.v18i3.11701
Puspita, G., & Wahyudi, T. (2021). Modal Intelektual dan Nilai Perusahaan. Owner: Riset & Jurnal Akuntansi, 5(5), 295-306. https://doi.org/10.33395/owner.v5i2.416
Restuti, M. D., Diyanty, V., & Shauki, E. R. (2019). Intellectual Capital and Firm Performance: Applying a Modified Value-Added Coefficient. Advances in Economics, Business and Management Research, 89(1), 114-123. https://doi.org/10.2991/apbec-18.2019.16
Salvi, A., Vitolla, F., Giakoumelou, A., Raimo, N., & Rubino, M. (2020). Intellectual capital disclosure in integrated reports: The effect on firm value. Technological Forecasting and Social Change, 160. https://doi.org/10.1016/j.techfore.2020.120228
Soewarno, N., Hilal, A., & Ramadhan, A. (2020). The Effect of Ownership Structure and Intellectual Capital on Firm Value with Firm Performance as an Intervening Variable. In International Journal of Innovation, Creativity and Change, 10(12), 215-236.
Spence, M. (1973). Job Market Signaling.
Situmorang, D. A. (2022). Pengaruh Sustainability Report Disclosure, Green Intellectual Capital Disclosure, dan Good Corporate Governance Terhadap Nilai Perusahaan.
Titman, Sheridan, Martin, John D., Keown, Arthur J.. (2018). Financial Management: Principles and Applications, 13th ed. (13). United Kingdom: Pearson Education Ltd.
Tonay, C., & Murwaningsari, E. (2022). Pengaruh Green Innovation dan Green Intellectual Capital Terhadap Nilai Perusahaan Dengan Ukuran Perusahaan Sebagai Moderasi. Jurnal Bisnis dan Akuntansi, 24(2), 283-294. https://doi.org/10.34208/jba.v24i2.1484
Utami, E. M. (2018). The Intellectual Capital Components on Firm Value: Evidence from LQ-45 Index Companies. Jurnal Keuangan Dan Perbankan, 22(2). https://doi.org/10.26905/jkdp.v22i2.1648
Vo, L. Van, & Le, H. T. T. (2023). From Hero to Zero-The Case of Silicon Valley Bank. Journal of Economics and Business, (Vol 17). https://doi.org/10.1016/j.jeconbus.2023.106138
Wernerfelt, B. (1984). A Resource-based View of the Firm. In Strategic Management Journal (Vol. 5).
Yong, J. Y., Yusliza, M. Y., Ramayah, T., & Fawehinmi, O. (2019). Nexus Between Green Intellectual Capital and Green Human Resource Management. Journal of Cleaner Production, 215, 364–374. https://doi.org/10.1016/j.jclepro.2018.12.306
Zabolotnyy, S., & Wasilewski, M. (2019). The Concept of Financial Sustainability Measurement: A Case of Food Companies From Northern Europe. Sustainability (Switzerland), 11(18). https://doi.org/10.3390/su11185139
Aprilia, Z. (2023, 14 Maret). Awal Mula Silicon Valley Bank Ambruk Dalam 48 Jam. Diakses pada 11 November 2023 dari https://www.cnbcindonesia.com/market/20230310155717-17-420704/awal-mula-silicon-valley-bank-ambruk-dalam-48-jam
Astuti, T., Widyastuti, T., Ahmar, N. (2022), Green Accounting and Green Intellectual Capital Practices: Study of The Influence of Indirect Financial Firm on Firm Value. Asian Journal of Accounting and Finance, 4(3), 101-112. https://doi.org/10.55057/ajafin.2022.4.3.8
Barney, K. (1991). Firm Resources and Sustained Competitive Advantage. Journal of Management, 17(1), 99-120.
Chen, Y. S. (2008). The positive effect of green intellectual capital on competitive advantages of firms. Journal of Business Ethics, 77(3), 271–286. https://doi.org/10.1007/s10551-006-9349-1
Dewi, R. R., Murwaningsari, E., & Mayangsari, S. (2021). Green Intellectual Capital on Value Relevance in Indonesia’s Manufacturing Companies. GATR Accounting and Finance Review, 6(3), 120–136. https://doi.org/10.35609/afr.2021.6.3(2)
Dowling, J., & Pfeffer, J. (1975). Pacific Sociological Association Organizational Legitimacy: Social Values and Organizational Behavior. In Source: The Pacific Sociological Review (Vol. 18, Issue 1).
Jayanti, D.L., & Binastuti, S. (2018). Pengaruh Intellectual Capital Terhadap Nilai Perusahaan Dengan Kinerja Keuangan Sebagai Variabel Intervening. Jurnal Ekonomi Bisnis, 22(3), 187-198
Yulandari, F.L., Gunawan, H. (2019). Pengaruh Intellectual Capital Terhadap Nilai Pasar dan Kinerja Keuangan. Journal of Applied Managerial Accounting, 3(1), 36-50. https://doi.org/10.30871/jama.v3i1.938
Freeman, R. E., & Reed, D. L. (1983). Stockholders and Stakeholders: A New Perspective on Corporate Governance The Stakeholder Concept. California Management Review: Vol. XXV (Issue 3).
Gantino, R., & Alam, L. R. (2021). Pengaruh Intellectual Capital dan Corporate Social Responsibility terhadap Nilai Perusahaan dimoderasi oleh Kinerja. Esensi: Jurnal Bisnis Dan Manajemen, 10(2), 215–230. https://doi.org/10.15408/ess.v10i2.18858
Gantino, R., Ruswanti, E., & Widodo, A. M. (2022). Green Accounting And Intellectual Capital Effect On Firm Value Moderated By Business Strategy. Jurnal Akuntansi, 27(01), 38-61. https://doi.org/10.24912/jm.v27i1.1118
Ghozali, Imam. 2020. Desain Penelitian Kuantitatif & Kualitatif Untuk Akuntansi, Bisnis, dan Ilmu Sosial Lainnya. Jakarta: Yoga Pratama
Hatane, S. E., Nathania, F., Lamuel, J., Darusman, F., & Devie. (2021). Intellectual capital disclosures and corporate governance in gaining the firms’ non-discretionary profits and market value in asean-5. Organizations and Markets in Emerging Economies, 11(22), 276–304. https://doi.org/10.15388/OMEE.2020.11.34
Kurnia, D. (2019). Pengaruh Profitabilitas, Kebijakan Dividen dan Harga Saham Terhadap Nilai Perusahaan Pada Perusahaan Manufaktur di Provinsi Banten yang Terdaftar di Bursa Efek Indonesia periode 2009-2016. Jurnal Akuntansi: Kajian Ilmiah Akuntansi (JAK), 6(2), 178. https://doi.org/10.30656/jak.v6i2.1433
Kusumawati, E., & Setiawan, A. (2019). The Effect of Managerial Ownership, Institutional Ownership, Company Growth, Liquidity, and Profitability on Company Value. http://journals.ums.ac.id/index.php/reaksi/index
Huang, C., & Kung, F. (2011). Environmental Consciousness and Intellectual Capital Management: Evidence From Taiwan’s Manufacturing Industry. Management Decision, 49(9), 1405-1425 https://doi.org/10.1108/00251741111173916
Laili, C. N., Atim, D., & Nur, K. I. (2019). The Influence of Corporate Governance, Corporate Social Responsibility, Firm Size on Firm Value: Financial Per-formance as Mediation Variable. Universitas Brawijaya. Journal of Applied Management (JAM, 17(1), 179–186. https://doi.org/10.21776/ub.jam.2019.017.01.20
Landion, V. & Lastanti, H.S. (2019). Pengaruh Intellectual Capital Terhadap Kinerja Keuangan dan Nilai Pasar Perusahaan. Jurnal Akuntansi Trisakti, 6(2), 215-232. http://dx.doi.org/10.25105/jat.v6i2
Li, Y., & Zhao, Z. (2018). The dynamic impact of intellectual capital on firm value: evidence from China. Applied Economics Letters, 25(1), 19–23. https://doi.org/10.1080/13504851.2017.1290769
Muasiri, A. H., Sulistyowati, E., & Timur, J. (2021). Pengaruh Intellectual Capital dan Corporate Governance Terhadap Nilai Perusahaan Dengan Profitabilitas Sebagai Variabel Moderasi. Jurnal EK&BI, 4, 2620–7443. https://doi.org/10.37600/ekbi.v4i1.255
Natalia, T. (2023, 26 Agustus). Ribuan Tewas Akibat Polusi, Kualitas Udara Bikin Khawatir. Diakses pada 11 November 2023 dari https://www.cnbcindonesia.com/research/20230826181347-128-466374/ribuan-tewas-akibat-polusi-kualitas-udara-bikin-khawatir
Nguyen, A. H., & Doan, D. T. (2020). The impact of intellectual capital on firm value: Empirical evidence from Vietnam. International Journal of Financial Research, 11(4), 74–85. https://doi.org/10.5430/ijfr.v11n4p74
Nuradawiyah, A., Susilawati, S., & Muhammadiyah Jakarta, S. (2020). Analisis Faktor-Faktor yang Mempengaruhi Nilai Perusahaan (Studi Kasus Pada Perusahaan Indeks LQ45). Jurnal Akuntansi, 9(2), 218-232. https://doi.org/10.37932/ja.v9i2
Nurhikmah, S., & Rahim, R. (2021). Pengaruh Faktor Keuangan dan Non Keuangan terhadap Financial Sustainability Ratio Perbankan. Journal of Management and Business Review, 18(1), 25–47. https://doi.org/10.34149/jmbr.v18i1.214
Nurvita (2018), Pengaruh Financial Sustainability, Kebijakan Dividen, Keputusan Investasi, dan Profitabilitas Terhadap Nilai Perusahaan. ESENSI: Jurnal Manajemen Bisnis, 25(3), 283-297. https://doi.org/10.55886/esensi.v25i3.541
Pratama S., & Risma, D. (2022). Pengaruh pengungkapan corporate social responsibility terhadap institutional ownership pada perusahaan high-profile yang listing di bursa efek Indonesia. Jurnal Ekonomi, Keuangan Dan Manajemen, 18(3), 540. https://doi.org/10.29264/jinv.v18i3.11701
Puspita, G., & Wahyudi, T. (2021). Modal Intelektual dan Nilai Perusahaan. Owner: Riset & Jurnal Akuntansi, 5(5), 295-306. https://doi.org/10.33395/owner.v5i2.416
Restuti, M. D., Diyanty, V., & Shauki, E. R. (2019). Intellectual Capital and Firm Performance: Applying a Modified Value-Added Coefficient. Advances in Economics, Business and Management Research, 89(1), 114-123. https://doi.org/10.2991/apbec-18.2019.16
Salvi, A., Vitolla, F., Giakoumelou, A., Raimo, N., & Rubino, M. (2020). Intellectual capital disclosure in integrated reports: The effect on firm value. Technological Forecasting and Social Change, 160. https://doi.org/10.1016/j.techfore.2020.120228
Soewarno, N., Hilal, A., & Ramadhan, A. (2020). The Effect of Ownership Structure and Intellectual Capital on Firm Value with Firm Performance as an Intervening Variable. In International Journal of Innovation, Creativity and Change, 10(12), 215-236.
Spence, M. (1973). Job Market Signaling.
Situmorang, D. A. (2022). Pengaruh Sustainability Report Disclosure, Green Intellectual Capital Disclosure, dan Good Corporate Governance Terhadap Nilai Perusahaan.
Titman, Sheridan, Martin, John D., Keown, Arthur J.. (2018). Financial Management: Principles and Applications, 13th ed. (13). United Kingdom: Pearson Education Ltd.
Tonay, C., & Murwaningsari, E. (2022). Pengaruh Green Innovation dan Green Intellectual Capital Terhadap Nilai Perusahaan Dengan Ukuran Perusahaan Sebagai Moderasi. Jurnal Bisnis dan Akuntansi, 24(2), 283-294. https://doi.org/10.34208/jba.v24i2.1484
Utami, E. M. (2018). The Intellectual Capital Components on Firm Value: Evidence from LQ-45 Index Companies. Jurnal Keuangan Dan Perbankan, 22(2). https://doi.org/10.26905/jkdp.v22i2.1648
Vo, L. Van, & Le, H. T. T. (2023). From Hero to Zero-The Case of Silicon Valley Bank. Journal of Economics and Business, (Vol 17). https://doi.org/10.1016/j.jeconbus.2023.106138
Wernerfelt, B. (1984). A Resource-based View of the Firm. In Strategic Management Journal (Vol. 5).
Yong, J. Y., Yusliza, M. Y., Ramayah, T., & Fawehinmi, O. (2019). Nexus Between Green Intellectual Capital and Green Human Resource Management. Journal of Cleaner Production, 215, 364–374. https://doi.org/10.1016/j.jclepro.2018.12.306
Zabolotnyy, S., & Wasilewski, M. (2019). The Concept of Financial Sustainability Measurement: A Case of Food Companies From Northern Europe. Sustainability (Switzerland), 11(18). https://doi.org/10.3390/su11185139
Published
2024-05-15
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