Can Intellectual Capital Drive the Value of Indonesian Tech Firms? Insights from 2022-2023
Bayu Sujud Anugrah, Adhelya Cita Ardhini, Dita Yustia Nisa, Fera, Djayani Nurdin

Management Undergraduate Study Program, Faculty of Economic and Business, Tadulako University

Abstract

The purpose of this study is to determine and explain the effect of intellectual capital and its components on the value of technology companies. This research is an explanatory type of quantitative research. The population of this study amounted to 96 financial reports in 2022-2023 and selected using purposive sampling technique resulting in 32 samples. Data obtained from the Indonesia Stock Exchange website. The data analysis method used is multiple linear regression. The results showed that simultaneously intellectual capital has an effect on firm value, while partially human capital efficiency and structural capital efficiency have an effect on firm value, and of the two variables that have a partial effect, human capital efficiency has a positive effect on firm value. The variation of the independent variable on the dependent variable is 21%, the remaining 79% is explained by other factors not included in this study, such as spending on research and development (R&D), redeployability, and capital structure.

Keywords: intellectual capital, firm value, firm productivity, firm efficiency.

Topic: Financial Management