THE ROLE OF INTELLECTUAL CAPITAL AND COMPETITIVE ADVANTAGE IN INCREASING MARKET STOCK PRICE

The purpose of this study is to analyze the effect of intellectual capital represented by the capital coefficient, human capital, structural capital and competitive advantage toward stock market prices. The research subject is the mining industry in Indonesia. The unit of analysis is the mining sector which is listed on the Indonesia Stock Exchange in 2016 to 2018. The total population is 123 data, while the sampling method is saturated sampling, so that the number of samples is 123. The data analysis method used is explanatory causal. The analytical tool used is multiple linear regression. The results showed that intellectual capital consisting of value-added capital coefficient, value added human capital, structural capital value added and competitive advantage simultaneously had an effect on stock market price. The results of data processing partially, structural capital value added and competitive advantage have an effect on stock market price. Meanwhile, value added capital coefficient and value-added human capital has no effect on stock market price. The finding of this study is that structural capital value added and competitive advantage has the ability to increase the stock market price in the capital market. It can be concluded that structural capital value added and competitive advantage can be called information that has relevance value in investor decision making.

1.  UEU-Article-17376-5_0578.pdf - 327 KB

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