THE INFLUENCE OF INTELLECTUAL CAPITAL AND FINANCIAL LEVERAGE TOWARD FIRM VALUE IN CONSUMER GOODS MANUFACTURING COMPANIES

Abstract

The higher the value of the company illustrates the more prosperous the company is. Therefore, it is important to have awareness for a company to find out what factors can increase the firm value. This research has purpose to know the influence of intellectual capital and financial leverage toward firm value. The population in this research is consumer goods manufaturing listed in Indonesian Stock Exchange from 2015-2018. The technique of determining the sample is purposive sampling method and sample acquired 27 companies. This research contains 3 variables, which are 1 dependent variable, and 2 independent variables. Dependent variable in this research is firm value that proxy by TOBINS‟Q. Independent variables consist of intellectual capital that proxied by VAIC and financial leverage that proxy by DER. The result in this research shows that (i) intellectual capital has positive effect on firm value, while (ii) financial leverage has negative effect on firm value.