The Effect of the Intellectual Capital Measurement, the Corporate Social Responsibility Disclosure and the Firm’s Capital Structure on the Financial Performance
Abstract
This study is aimed to examine the effect of intellectual capital, CSR disclosure and capital structure proxied with debt equity ratio (DER) on financial performance proxied with return on asset (ROA). This research was a quantitative study. The type of data used was secondary data obtained from www.idx.co.id and the company website. The analysis method used was multiple linear regression analysis using SPSS version 22 software. The population in this research was basic industry and chemical companies listed in Indonesia Stock Exchange during the period of 2013–2016. While the samples of this study were determined by using purposive sampling method in order to obtain a total of 100 data that could be processed, the result of this study indicated that intellectual capital had a positive effect and capital structure negatively affected the financial performance of the company. Meanwhile, the disclosure of CSR had no significant effect on the financial performance of the company.
Keywords: intellectual capital, corporate social responsibility disclosure, capital structure, debt equity ratio, return on assets
References
[1] Agustina, Wahyuni, Gede Adi Yuniarta dan Ni Kadek Sinarwati. “Pengaruh Intellectual Capital, Coporate Social Responsibility dan Good Corporate Governance Terhadap Kinerja Keuangan (Studi Kasus Pada Perysahaan BUMN yang Terdaftar di BEI Pada Tahun 2011-2013).” Jurnal Akuntansi Universitas Pendidikan Ganesha, Vol. 3, No. 1, Tahun 2015.
[2] Agrestya, Wenty. “Analisis Pengaruh Ukuran Perusahaan dan Struktur Modal Terhadap Kinerja Keuangan Pada Perusahaan Manufaktur yang Terdaftar Di BEI.” Jurnal Akuntansi Universitas Lampung, 2012.
[3] Alhaddi, Hanan. “Triple Bottom Line and Sustainability: A Literature Review.” Business and Management Studies, Vol. 1 No. 2, September 2015.
[4] Ariantini, I Gusti Ayu.,Gede Ayu Yuniarta dan Edy Sujana. “Pengaruh Intellectual Capital, Corporate Social Responsibility, Dan Good Corporate Governance Terhadap Kinerja Perusahaan (Studi Kasus Pada Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia tahun 2011-2015).” E-Journal S1 Akuntansi Pendidikan Ganesha, Volume 7, No. 1, Tahun 2017.
[5] Arifin, Jauhar. “The Influence of Intellectual Capital on Financial Performance of Bank Sector Companies Listed at Jakarta Stock Exchange in Period 2008-2012.” Jurnal AdBispreneur, Vol. 1, No. 3, Desember 2016, h. 195-206.
[6] Arifin, Jauhar. “Corporate Governance and Intellectual Capital on Firm Value of Banking Sector Companies Listed at Indonesia Stock Exchange in Periode 2008-2012.” Journal of Wacana, Vo. 20, No. 1, 2017.
[7] Bernadha, Yhovita Anggie, Topowijoyo dan Devi Farah Azizah. “Pengaruh Corporate Social Responsibility Terhadap Kinerja Keuangan Perusahaan (Studi Pada Perusahaan Winner of Sustainability Reporting Award (SRA) 2015 yang Terdaftar di BEI Periode 2010-2014).” Jurnal Administrasi Bisnis, Vol. 44, No. 1, Maret 2017.
[8] Brigham, Eugene F. dan Joul F Houston. “Manajemen Keuangan.” Jakarta: Erlangga, 2004.
[9] Candrakirana, Rosita. “Studi Perbandingan Pengaturan Tentang Corporate Social Responsibility Di Beberapa Negara dalam Upaya Perwujudan Prinsip Good Corporate Governance.” Tesis Universitas Sebelas Maret, Surakarta, 2009.
[10] Daud, Rulfah M., Abrar Amri. “Pengaruh Intellctual Capital dan Corporate Social Responsibility Terhadap Kinerja Perusahaan (Studi Empiris Pada Perusahaan Manufaktur Di Bursa Efek Indonesia).” Jurnal Telaah &nRiset Akuntansi, Vol. 1, No. 2, Juli 2008.
[11] Dewi, Ni Kadek Venimas Citra, Wayan Cipta dan I ketut Kirya. “Pengaruh LDR, DER dan CR Terhadap ROA.” E-Journal Bisma Universitas Pendidikan Ganesha Jurusan Manajemen, Volume 3, Tahun 2015.
[12] Erdiyansyah, Muhammad. (2014). “Analisis Pengelolaan Piutang Terhadap Likuiditas dan Profitabilitas Perusahaan Sektor Industri Dasar dan Kimia di Bursa Efek Indonesia.” https://muhammaderdiyansyah.wordpress.com/2014/04/11/analisis-pengelola an-piutang-terhadap-likuiditas-dan-profitabilitas-perusahaan-sektor-industri-d asar-dan-kimia-di-bursa-efek-indonesia/ (diakses Juli 28, 2017).
[13] Fahmi, Irham. “Pengantar Manajemen Keuangan: Teori dan Soal Jawab.” Alfabeta, Bandung, 2013.
[14] Faradina, Ike dan Gayatri. “Pengaruh Intellectual Capital Dan Intellectual Capital Disclosure Terhadap Kinerja Keuangan Perusahaan.” E-Jurnal Akuntansi Universitas Udayana, Vol. 15, 2 Mei, h. 1623-1653.
[15] Finch, Nigel. “The Motivations For Adopting Sustainability Disclosure.” MGSM Working Papers in Management, August 2005.
[16] Firer, Steven dan S. Mitchell Williams. “Intellectual Capital and Traditional Measures of Corporate Performance.” Emerald Journal of Intellectual Capital, Vol. 4, No. 3, 2003, pp. 348-360.
[17] Ghozali, Imam. “Aplikasi Analisis Multivariete Dengan Program IBM SPSS 23.” Edisi Kedelapan, Semarang: Badan Penerbit Universitas Diponegoro, 2016.
[18] Global Reporting Intiative. “Sustainability Reporting.” https://www.globalreportin g.org/information/sustainabilityreporting/Pages/gristandards.aspx (diakes Juni 6, 2017).
[19] Gozali, Adrian dan Saarce Elsye Hatane. “Pengaruh Intellectual Capital Terhadap Kinerja Keuangan dan Nilai Perusahaan Khususnya Di Industri Keuangan dan Industri Pertambangan yang Terdaftar Di Bursa Efek Indonesia Tahun 2008-2012.” Business Accounting Review, Vol. 2, No. 2, Juli 2014.
[20] Hashim, Maryam Jameelah, Idris Osman, dan Syed Musa Alhabshi. “Effect of Intellectual Capital on Organizational Performance.” Procedia-Social and Behavioral Sciences, 17-18 September 2015, Bali, Indonesia, h. 207-214.
[21] Iqbal, Muhammad. “Pengaruh Intellectual Capital dan Corporate Social Responsibility Terhadap Kinerja Perusahaan (Studi Empiris: Perusahaan Manufaktur yang Terdaftar Di BEI Periode 2012-2014).” Naskah Publikasi Universitas Negeri Padang, 2016.
[22] Kalkan, Adnan, Ozlem Cetinkaya Bozkurt dan Mutlu Arman. “The Impacts of Intellectual Capital, Innovation and Organizational Strategy on Firm Performance.” Procedia-Social and Behavioral Sciences, 2014, pp. 700-707.
[23] Kamatra, Novrianty dan Ely Kartikaningdyah. “Effect Corporate Social Responsibility on Financial Performance.” International Journal of Economics and Financial Issues, 2015, pp. 157-164.
[24] Kasmir. “Analisis Laporan Keuangan.” Edisi Pertama, Jakarta: PT Rajagrafindo Persada, 2009.
[25] Marusya, Pontororing dan Mariam Magantar. “Pengaruh Struktur Modal Terhadap Profitabilitas Pada Perusahaan Tobacco Manufacturers yang Terdaftar di Bursa Efek Indonesia (BEI) Periode 2008-2015.” Jurnal Berkala Ilmiah Efisiensi, Volume 16, No. 03, Tahun 2016.
[26] Mustafa, Cut Cinthya dan Nur Handayani. “Pengaruh Pengungkapan Corporate Social Responsibility Terhadap Kinerja Keuangan Perusahaan Manufaktur.” Jurnal Ilmu & Riset Akuntansi, Vol. 3, No. 6, 2014.
[27] Negari, Ni Putu Ayu Sekarini Tirtha, I Wayan Suartana dan Agus Indra Tenaya. “Pengaruh Profil Risiko Dan Modal Intelektual Pada Return On Assets Perbankan.” EJurnal Akuntansi Universitas Udayana, Vol. 18, 3 Maret 2017, h. 2231-2259.
[28] Nurhayati, Siti. “Analisa Pengaruh Intellectual Capitak Terhadap Kinerja Pasar Dan Kinerja Keuangan Pada Perusahaan LQ45 Yang Terdaftar Di Bursa Efek Indonesia Periode Tahun 2010-2013.” Jurnal Akuntansi Riset, Vol. 6, No. 1, 2017, pp: 127-166.
[29] Octavia, Sherly., Edi Sukarmanto dan Sri Fadilah. “Pengaruh Intellectual Capital dan Struktur Modal Terhadap Kinerja Keuangan Perusahaan (Studi Empiris Pada Perusahaan Perbankan Sektor Perbankan Yang Terdaftar Di Bursa Efek Indonesia Periode Tahun 2010-2014).” Prosiding Akuntansi, Volume 2, No. 1, Tahun 2016, ISSN: 2460-6561.
[30] Pulic, Ante. “Measuring The Performance of Intellectual Potential in Knowledge Economy.” The 2