The Influence of Intellectual Capital towards Financial Performance with Brand Value as an Intervening Variable
Daulay, Ira Erminda
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This study aims to analyze and provide empirical evidence of the effect of intellectual capital on the financial performance using brand value as an intervening variable. The hypothesis is (1) Intellectual Capital a significant effect on the financial performance, (2) Intellectual Capital has a significant effect on brand value, (3) Brand Value significantly influences the company's financial performance, and (4) Intellectual Capital significantly influences the financial performance with the brand value as an intervening variable. The population in this study is a company that includes the Top 100 Most Valuable Brand from Swa Magazine. This study used method purposive sampling and obtained a sample of 76 companies with the observation period from the year 2014 to 2016. This study used secondary data companies listed in Indonesia Stock Exchange. The data analysis technique used was path analysis. Analysis of the data in this study using 3.0 SmartPLS program. Results showed that intellectual capital has a significant positive effect on financial performance. Intellectual capital has no significant positive effect on the brand value. Brand value is also positive and not significant to the financial performance. Intellectual capital positively affects financial performance through brand value, but the impact is not significant. Brand value as an intervening variable in this study was a partial mediating variable.