Value Relevance of Intellectual Capital and Earnings per Share in Creative Industries in Indonesia
Keywords:
Intellectual Capital, Value Added Capital Employed (VACA), Value Added Human Capital (VAHU), Structural Capital Value Added (STVA), Earning Per Share (EPS), Stock Market PriceAbstract
Companies must change the management pattern from a labor-based business pattern to a knowledge-based business. One of the approaches used in the assessment of knowledge assets is Intellectual Capital.
This study aims to examine the effects of human capital (VAHU), capital used (VACA), structural capital (STVA) and EPS on stock market price at creative industry companies in Indonesia.
The research design is an explanatory causal where the data source is secondary data. The sample used in this study amounted to 12 companies included in the creative industry listed on the IDX for the 2013-2018 period. The number of populations in this study was 72. The sampling technique was saturated sampling, totaling 72 samples. The data analysis tool used was multiple linear regression.
The results of this study indicate that STVA and EPS have a significant and positive influence on Stock Price. While VACA and VAHU have no effect on stock price. The findings of this study are that structural capital is an intangible asset in company and earnings are relevant information in the capital market
