THE INFLUENCE OF INTELLECTUAL CAPITAL AND CORPORATE SOCIAL RESPONSIBILITY ON FIRM VALUE WITH CORPORATE REPUTATION AS AN INTERVENING VARIABLE
(EMPIRICAL STUDY OF THE FINANCIAL SECTOR LISTED ON THE INDONESIAN STOCK EXCHANGE FOR THE PERIOD 2021 – 2023)
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Sri Wahyuni(1*)
Accounting Study Program, Faculty of Economics and Business, University of Jambi
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Yuliusman Yuliusman(2)
Accounting Study Program, Faculty of Economics and Business, University of Jambi
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Rahayu Rahayu(3)
Accounting Study Program, Faculty of Economics and Business, University of Jambi
(*) Corresponding Author
Keywords:
Intellectual Capital, Corporate Social Responsbility, Corporate Reputation, Firm Value
Abstract
The study aims to determine the effect of intellectual capital and corporate social responsibility on firm value with corporate reputation as an intervening variable in financial companies from various sectors listed on the Indonesia Stock Exchange between 2021-2023. The data analysis approach employs either component-based or variance-based Structural Equation Modeling analysis, commonly referred to as Partial Least Squares (PLS), using SmartPLS software. The results of this study show that intellectual capital has a positive impact on business value and that corporate social responsibility also has a positive impact on business value. However, intellectual capital has no influence on corporate reputation, while CSR has a positive influence on corporate reputation. In addition, corporate reputation also has a positive influence on corporate value. Corporate reputation does not mediate the relationship between intellectual capital and corporate value, but it does mediate the relationship between corporate social responsibility and corporate value.
Keywords: Intellectual Capital; Corporate Social Responsibility; Corporate Reputation; Firm Value
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References
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Yunina & Husna (2018). Influence of capital structure and financial performance on registered company value on food and beverage sub-sector manufacturing companies listed on the Indonesian stock exchange (2012-2016 period). Accounting and finance journals, 6(1).
Yustyarani, W., & Yuliana, I. (2020). Influence Of Intellectual Capital, Income Diversification on Firm Value Of Companies With Profitability Mediation: Indonesian Banking. Journal of accounting dynamics, 12((1)), 77-89. https://doi.org/doi: https://doi.org/10.15294/jda.v12i1.25466
Afrizal et al. (2020). The Effect of Accounting Conservatism, CSR Discousure and Tax Avoidance on Earnings Management: Some Evidance From Listed Companies in Indonesia. Internasional Journal of Advanced Science and Technology, Vol. 29, N, 1441–1456.
Ayuningtias et al. (2023). The Effect Of Intellectual Capital And Sustainbility Report Disclosure On Company Value With Profitability As A Moderation Variable (Empirical Studies in Manufacturing Companies 2017-2021). Major journal of economics and administration (LEJEA).
Azizul, K. (2020). Corporate Social Responsibility concept dan Implementation. Economic & Business Publishing.
Azzahra & Widiastuty (2023). The role of company reputation as a mediator on the influence of corporate social responsibility website disclosure on company business performance. Journal of accounting and financial studies, Vol. 6(1), page 33-54.
Duryadi (2021). Empirical research methods, Path Analysis Method and Analysis Using SmartPLS. (Pr Foundation).
Farisi & Premananto (2021). The influence of Corporate Social Responsibility (CSR) on Corporate Reputation, Word Of Mouth and Customer Trust (Studies at PT Petrokimia Gresik). Scientific journal of business administration and innovation, vol.5(2).
Roos and PIKE. (2018). Intellectual Capital as a Management Tool No Title. United Kingdom: Routledge,.
Ghozali, I. (2020). 25 Grand Theory 25 Major theories of Management, Accounting and Business science.
Ghozali, I. (2021). Partial Least Squares (Concepts, Techniques, and Applications) using the SmartPLS 3.2.9 program for empirical research. Diponegoro University publishing body.
Ginesti et al. (2018). Exploring the impact of intellectual capital on company reputation and performance. Journal of Intellectual Capital, 915-934.
https://doi.org/Retrieved from https://doi.org/10.1108/JIC-01-2018-0012
Harun, M. S., Hussaney, K., Kharuddin, K. A. M., & Farooque, O. Al. (2020). CSR Disclosure, Corporate Governance and Firm Value: a study on GCC Islamic Banks. International Journal of Accounting & Information Management © Emerald Publishing Limited, 1834–7649. https://doi.org/DOI 10.1108/IJAIM-08-2019-0103
Hery. (2016). Financial Ratios For Bussiness: financial analysis to assess the financial condition and performance of the company. PT Grasindo.
Karina & Setiadi (2020). The influence of CSR on company value with GCG as a Moderator. JRAMB, Accounting study program, faculity of economics, UMB Yogyakarta, 6(1), 2460–1233.
Chowdhury (2019). Intellectual Capital Efficiency and Organisational Performance in the Context of The Pharmaceutical Industry in Bangladesh. J. Intellect. Cap., 20(6), 784–806,. https://doi.org/doi: 10.1108/JIC-10-2018-0171.
Landion & Lastanti (2019). The influence of intellectual capital on financial performance, company market value and company reputation. Trisakti Accounting Journal, 6,2, 215–232. https://doi.org/http://dx.doi.org/10.25105/jat.v6i2.5570
Lee et al. (2019). Voluntary Disclosure and Market Valuation of Sustainability Reports in Korea: The Case of Chaebols. Sustainability, 11(13): 35.
Midiantari & Agustia (2020). Impact Of Intellectual Capital On Frim Value Throung Corporate Reputation as a Mediating Variable. Journal of security and sustainability issues, 9((4)), 1203–1213.
https://doi.org/https://doi.org/10.9770/jssi.2020.9.4(7)
Oktavianus et al. (2022). Financial performance and corporate reputation: a study on companies listed on the Indonesia stock exchange. Journal KRISNA: collection of accounting research, 13(2), 218–227.
https://doi.org/https://doi.org/10.22225/kr.13.2.2022.218-227
Ozkan et al. (2016). Intellectual capital and financial performance: A study of the Turkish Banking Sector. Borsa Istanbul Review. Retrieved From, 17.13, 190–198. https://doi.org/https://doi.org/10.1016/j.bir.2016.03.001
Peter (2011). Playing shares for small employees. Second printing. Flashbooks.
Pratama & Maria (2023). The Influence of Intellectual Capital, Good Corporate Governance and Corporate Social Responsibility on company value is mediated Profitability. Scientific horizon journal, Vol.2, No.
https://bajangjournal.com/index.php/J
Solikhin et al. (2022). The role of Corporate Social Responsibility in relation to Financial Slack on the value of BUMN companies listed on BEI por the 2018-2021 period. Journal of applied management and finance (Mankeu), Vol.11 No., P-ISSN:2252-8636, E-ISSN: 2685-9424.
Ulum (2022). Intellectual Capital Measurement model, Disclosure Framework, and Organizational performance. Muhammadiyah University of Malang.
Utami & Hasan (2021). The Role of Corporate Social Responsibility on the Relationship between Financial Performance and Company Value. Asian journal of finance, Economics and Business Asia, 8(3), 1249–1256.
https://doi.org/doi:10.13106/jafeb.2021.vol8.no3.1249
Wiratna, S. V (2021). Business & Economic research methodology. New Press Library.
Yamin (2023). Statistical data processing: SmartPLS 3, SmartPLS 4, AMOS, & STATA (Easy & Practical). (A. Rasyid (ed.); Third edition). PT Dewangga Energi Internasional.
Yuliusman et al. (2022). Governance Mechanism, Intellectual Capital Disclosure, and Firm Value. International Journal of Recent Technology and Engineering (IJRTE), Volume-10(Issue-5), ISSN: 2277-3878,. https://doi.org/DOI: 10.35940/ijrte.xxxxx.xxxxxx
Yuliusman, & Kusuma (2020). The relationship between Good Corporate Governance and company value is moderated by Corporate Social Responsibility dan Profitability. Accounting and Tax Journals, 21 (1), 91–102. http://jurnal.stie-aas.ac.id/index.php/jap
Yunina & Husna (2018). Influence of capital structure and financial performance on registered company value on food and beverage sub-sector manufacturing companies listed on the Indonesian stock exchange (2012-2016 period). Accounting and finance journals, 6(1).
Yustyarani, W., & Yuliana, I. (2020). Influence Of Intellectual Capital, Income Diversification on Firm Value Of Companies With Profitability Mediation: Indonesian Banking. Journal of accounting dynamics, 12((1)), 77-89. https://doi.org/doi: https://doi.org/10.15294/jda.v12i1.25466
Published
2025-03-05
How to Cite
Wahyuni, S., Yuliusman, Y., & Rahayu, R. (2025). THE INFLUENCE OF INTELLECTUAL CAPITAL AND CORPORATE SOCIAL RESPONSIBILITY ON FIRM VALUE WITH CORPORATE REPUTATION AS AN INTERVENING VARIABLE. Journal of Management : Small and Medium Enterprises (SMEs), 18(1), 551-563. https://doi.org/10.35508/jom.v18i1.18236
Section
Articles
