Do Intellectual Capital and Corporate Governance have Value Relevance to the Market Performance? Evidence from Indonesia

Authors

  • Nadhira Hardiana Public Financial Accounting Department, Faculty of Economics and Business, Universitas Terbuka, Indonesia
  • Noorina Hartati Public Financial Accounting Department, Faculty of Economics and Business, Universitas Terbuka, Indonesia
  • Pesi Suryani Public Financial Accounting Department, Faculty of Economics and Business, Universitas Terbuka, Indonesia
  • Lasando Lumban Gaol Public Financial Accounting Department, Faculty of Economics and Business, Universitas Terbuka, Indonesia
  • Lies Zulfiati Accounting Department, Sekolah Tinggi Ilmu Ekonomi Indonesia Jakarta, Indonesia
  • Dahlifah Accounting Department, Sekolah Tinggi Ilmu Ekonomi Indonesia Jakarta, Indonesia

DOI:

https://doi.org/10.20961/akumulasi.v2i1.759

Keywords:

corporate governance, intellectual capital, market performance

Abstract

We examine whether intellectual capital and corporate governance have value relevance to market performance. Intellectual capital is measured by VAIC™ (Pulic, 1998). We use annual report data from companies listed on the Indonesia Stock Exchange (IDX) and Corporate Governance Perception Index (CGPI) data from the Indonesian Institute for Corporate Governance (IICG) in the period of 2015–2019. Preliminary findings suggest that intellectual capital does not have value relevance to market performance, but corporate governance does have value relevance to market performance. This paper contributes to stakeholders in making economic decisions.

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Published

2023-06-19

Issue

Vol. 2 No. 1 (2023): June

Section

Articles

How to Cite

Do Intellectual Capital and Corporate Governance have Value Relevance to the Market Performance? Evidence from Indonesia. (2023). AKUMULASI: Indonesian Journal of Applied Accounting and Finance, 2(1), 52-62. https://doi.org/10.20961/akumulasi.v2i1.759

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