THE INFLUENCE OF INTELLECTUAL CAPITAL ON THE VALUE OF MANUFACTURING COMPANIES IN THE FOOD AND BEVERAGE SUB-SECTOR LISTED ON THE INDONESIAN STOCK EXCHANGE FOR THE PERIOD OF 2015-2022

Abstract

The important position of food and beverage sub-sector companies in Indonesia in supporting economic growth means the government needs to make efforts to accommodate their interests in creating profits. The fluctuating growth in share values in the majority of food and beverage companies needs to be a major concern because a decrease in income in this sub-sector will directly impact on the decline of the Indonesian economy. To anticipate this, evaluate the role of intellectual capital in increasing the value of the company. The research method approach uses a quantitative-associative approach, which aims to determine the relationship between research variables of intellectual capital and price to book value as a proxy for company value. Panel data regression testing, accompanied by the classical assumption test, chow test, and hausman test, was carried out to answer the hypothesis and determine the role of intellectual capital on company value. The research results show that simultaneously, intellectual capital has a significant positive effect on increasing company value, and partially, the VACA and STVA constructs have a positive effect on company value, while the VAHU construct has a negative effect.