Abstract:
Intellectual Capital has been known recently as one important factor in determining the company performance. Company’s performance can be determined by company’s stock price in the capital market. Standard & Poor’s 500 has been known as one of popular stock price index globally. On the other side, the recognition of intellectual capital is supported by one index named Ocean Tomo 300® Patent Index as the index that is constructed by 300 companies with the highest patent value. This research was intended to identify and analyze the correlation between intellectual capital index and stock price index. Intellectual capital is represented by Ocean Tomo 300® Patent Index while stock price market index is represented by Standard & Poor’s 500. From this research, investors can have a new input in determining and analyzing the movement of global stocks market index while the new theory development about intellectual capital and capital market could be shared to management accounting literature.
The research method in this research is descriptive statistic and simple linear regression method using SPSS 16.0 to analyze and interpret the data. The object of this research is 48 months data from January 2007 – December 2010. The model was analyzing the significant level of correlation between Ocean Tomo 300 Patent Index and Standard & Poor’s 500 Index.
The result of this research shows that there is a significant level of correlation between Ocean Tomo 300® Patent Index and Standard & Poor’s 500 Index. The statistical results show a very strong and positive correlation has been happened between Ocean Tomo 300® Patent Index and Standard & Poor’s 500.