Profiling Pengukuran: Return On Invested Capital dan Intellectual Capital
DOI:
https://doi.org/10.30595/ratio.v5i1.19792Keywords:
Return on Invested Capital; Modified Value Added Intellectual Capital; Banking IndustriesAbstract
The research aims to compile a profile of disclosure measurement of return on invested capital and intellectual capital in banking companies with the observation period of 2020 – 2022. The sample was determined by purposive sampling that resulted in 84 observation data from 28 companies The findings of this study confirm that measuring intellectual capital with the comprehensive tool, namely Modified Value Added Capital suggests that there is a positive and significant effect on the return on invested capital. A company with a high value added intellectual capital will increase Return On Invested Capital has the ability to reinvest its profits and grow its business, resulting in long-term earnings growth and potentially higher returns for investors. The average ROIC was 7.54% (>2%), which shows that management uses funding efficiently to generate profits. Therefore, management must reinvest the surplus profits in the company to drive future growth.
Keywords:
Return on Invested Capital; Modified Value Added Intellectual Capital; Banking Industries.
References
Alfraih, M. M. (2018). Intellectual capital reporting and its relation to market and financial performance. International Journal of Ethics and Systems, 34(3). https://doi.org/10.1108/IJOES-02-2017-0034
Buallay, A. M. (2017). The relationship between intellectual capital and firm performance. Corporate Governance and Organizational Behavior Review, 1(1). https://doi.org/10.22495/cgobr_v1_i1_p4
Dewi, N. R., & Setyowati, A. (2015). Analisis Pengaruh Modal Intelektual Terhadap Kinerja Perusahaan. Jurnal Manajemen Dan Kewirausahaan, 13(2).
Hasan, R., & Miah, M. D. (2018). Intellectual capital and firm performance: evidence from the financial sector in Bangladesh. International Journal of Accounting and Finance, 8(2). https://doi.org/10.1504/ijaf.2018.10014467
Janiar, D., & Dwiridho, J. (2019). Pengaruh Modal Intelektual Terhadap Kinerja Keuangan Perusahaan Perbankan Badan Usaha Milik Negara (BUMN) Pemerintah Republik Indonesia Periode 2008 - 2017. Jurnal Bisnis Indonesia, 10(1).
Khairiyansyah, K., & Vebtasvili, V. (2018). Relationship between Intellectual Capital with Profitability and Productivity in Indonesian Banking Industry. Jurnal Keuangan Dan Perbankan, 22(1), 127–136. https://doi.org/10.26905/jkdp.v22i1.1577
Parmar, B. L., Freeman, R. E., Harrison, J. S., Wicks, A. C., Purnell, L., & de Colle, S. (2010). Stakeholder theory: The state of the art. In Academy of Management Annals (Vol. 4, Issue 1). https://doi.org/10.1080/19416520.2010.495581
Pitaloka, E. (2017). Dampak Modal Intelektual Terhadap Kinerja Bank Umum Nasional Periode 2010-2015. Jurnal Inspirasi Bisnis Dan Manajemen, 1(2). https://doi.org/10.33603/jibm.v1i2.538
Poh, L. T., Kilicman, A., & Ibrahim, S. N. I. (2018). On intellectual capital and financial performances of banks in Malaysia. Cogent Economics and Finance, 6(1). https://doi.org/10.1080/23322039.2018.1453574
Pulic, A. (1998). Measuring the performance of intellectual potential in the knowledge economy. The 2nd" World Congress on the Management of Intellectual Capital".
Puspitasari, E., & Srimindarti, C. (2014). Peran Indikator Kekayaan Intelektual Terhadap Kinerja Perusahaan Pada Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia. Jurnal Organisasi Dan Manajemen.
Setyawan, I., Suparwati, Y. K., & Kusumaningtyas, M. (2019). PENGARUH MODAL INTELEKTUAL DAN PERTUMBUHAN MODAL INTELEKTUAL TERHADAP NILAI PASAR DAN KINERJA KEUANGAN PERUSAHAAN. Magisma: Jurnal Ilmiah Ekonomi Dan Bisnis, 5(2). https://doi.org/10.35829/magisma.v5i2.22
Subramanyam, K. R. (2017). Financial Statement Analysis Eleventh Edition. In McGraw-Hill Education.
Tarigan, et al. (2021). The impacts of intellectual capital on financial performance and value-added of the production evidence from Chile. Journal of Economics, Finance and Administrative Science, 26(51), 127–142. https://doi.org/10.1108/JEFAS-08-2019-0178
Ulum, I. (2017). Intellectual Capital : Model Pengukuran, Framework Pengungkapan & Kinerja Organisasi. In Akuntansi.
Ulum, I., Ghozali, I., & Purwanto, A. (2014). Intellectual Capital Performance of Indonesian Banking Sector: A Modified VAIC (M-VAIC) Perspective. Asian Journal of Finance & Accounting, 6(2). https://doi.org/10.5296/ajfa.v6i2.5246
Ulya & Puspitasari, E. (2021). KINERJA KEUANGAN PADA INDUSTRI PERBANKAN DI INDONESIA DITINJAU DARI GOOD CORPORATE GOVERNANCE DAN INTELLECTUAL CAPITAL. 5(01), 90–116. https://www.ptonline.com/articles/how-to-get-better-mfi-results
Wernerfelt, B. (1995). The resource‐based view of the firm: Ten years after. Strategic Management Journal, 16(3). https://doi.org/10.1002/smj.4250160303
Yulandari, L. F., & Gunawan, H. (2019). Pengaruh Intellectual Capital Terhadap Nilai Pasar Dan Kinerja Keuangan Perusahaan Yang Terdaftar Di Bursa Efek Indonesia. Journal of Applied Managerial Accounting, 3(1), 36–50. https://doi.org/10.30871/jama.v3i1.938
Alfraih, M. M. (2018). Intellectual capital reporting and its relation to market and financial performance. International Journal of Ethics and Systems, 34(3). https://doi.org/10.1108/IJOES-02-2017-0034
Buallay, A. M. (2017). The relationship between intellectual capital and firm performance. Corporate Governance and Organizational Behavior Review, 1(1). https://doi.org/10.22495/cgobr_v1_i1_p4
Dewi, N. R., & Setyowati, A. (2015). Analisis Pengaruh Modal Intelektual Terhadap Kinerja Perusahaan. Jurnal Manajemen Dan Kewirausahaan, 13(2).
Hasan, R., & Miah, M. D. (2018). Intellectual capital and firm performance: evidence from the financial sector in Bangladesh. International Journal of Accounting and Finance, 8(2). https://doi.org/10.1504/ijaf.2018.10014467
Janiar, D., & Dwiridho, J. (2019). Pengaruh Modal Intelektual Terhadap Kinerja Keuangan Perusahaan Perbankan Badan Usaha Milik Negara (BUMN) Pemerintah Republik Indonesia Periode 2008 - 2017. Jurnal Bisnis Indonesia, 10(1).
Khairiyansyah, K., & Vebtasvili, V. (2018). Relationship between Intellectual Capital with Profitability and Productivity in Indonesian Banking Industry. Jurnal Keuangan Dan Perbankan, 22(1), 127–136. https://doi.org/10.26905/jkdp.v22i1.1577
Parmar, B. L., Freeman, R. E., Harrison, J. S., Wicks, A. C., Purnell, L., & de Colle, S. (2010). Stakeholder theory: The state of the art. In Academy of Management Annals (Vol. 4, Issue 1). https://doi.org/10.1080/19416520.2010.495581
Pitaloka, E. (2017). Dampak Modal Intelektual Terhadap Kinerja Bank Umum Nasional Periode 2010-2015. Jurnal Inspirasi Bisnis Dan Manajemen, 1(2). https://doi.org/10.33603/jibm.v1i2.538
Poh, L. T., Kilicman, A., & Ibrahim, S. N. I. (2018). On intellectual capital and financial performances of banks in Malaysia. Cogent Economics and Finance, 6(1). https://doi.org/10.1080/23322039.2018.1453574
Pulic, A. (1998). Measuring the performance of intellectual potential in the knowledge economy. The 2nd" World Congress on the Management of Intellectual Capital".
Puspitasari, E., & Srimindarti, C. (2014). Peran Indikator Kekayaan Intelektual Terhadap Kinerja Perusahaan Pada Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia. Jurnal Organisasi Dan Manajemen.
Setyawan, I., Suparwati, Y. K., & Kusumaningtyas, M. (2019). PENGARUH MODAL INTELEKTUAL DAN PERTUMBUHAN MODAL INTELEKTUAL TERHADAP NILAI PASAR DAN KINERJA KEUANGAN PERUSAHAAN. Magisma: Jurnal Ilmiah Ekonomi Dan Bisnis, 5(2). https://doi.org/10.35829/magisma.v5i2.22
Subramanyam, K. R. (2017). Financial Statement Analysis Eleventh Edition. In McGraw-Hill Education.
Tarigan, et al. (2021). The impacts of intellectual capital on financial performance and value-added of the production evidence from Chile. Journal of Economics, Finance and Administrative Science, 26(51), 127–142. https://doi.org/10.1108/JEFAS-08-2019-0178
Ulum, I. (2017). Intellectual Capital : Model Pengukuran, Framework Pengungkapan & Kinerja Organisasi. In Akuntansi.
Ulum, I., Ghozali, I., & Purwanto, A. (2014). Intellectual Capital Performance of Indonesian Banking Sector: A Modified VAIC (M-VAIC) Perspective. Asian Journal of Finance & Accounting, 6(2). https://doi.org/10.5296/ajfa.v6i2.5246
Ulya & Puspitasari, E. (2021). KINERJA KEUANGAN PADA INDUSTRI PERBANKAN DI INDONESIA DITINJAU DARI GOOD CORPORATE GOVERNANCE DAN INTELLECTUAL CAPITAL. 5(01), 90–116. https://www.ptonline.com/articles/how-to-get-better-mfi-results
Wernerfelt, B. (1995). The resource‐based view of the firm: Ten years after. Strategic Management Journal, 16(3). https://doi.org/10.1002/smj.4250160303
Yulandari, L. F., & Gunawan, H. (2019). Pengaruh Intellectual Capital Terhadap Nilai Pasar Dan Kinerja Keuangan Perusahaan Yang Terdaftar Di Bursa Efek Indonesia. Journal of Applied Managerial Accounting, 3(1), 36–50. https://doi.org/10.30871/jama.v3i1.938
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