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"[ASBTRAKPenelitian ini bertujuan untuk menguji pengaruh dari growth opportunity yangdiukur dengan Market To Book Value of Assets (MVABVA), net working capitaldiukur dengan perbandingan antara net current assets minus kas dengan total asetnonkas, dan profitability yang diukur dengan Return On Equity (ROE) terhadapcash holding yang diukur dengan perbandingan antara kas dan setara kas dengantotal aset nonkas, menggunakan sampel perusahaan nonkeuangan yang terdaftar diBEI periode 2010 ? 2014. Hasil penelitian ini menunjukkan bahwa growthopportunity berpengaruh positif terhadap cash holding, net working capitalberpengaruh negatif terhadap cash holding dan profitability berpengaruh positifterhadap cash holding.

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ABSTARCTThis study aimed to examine the effect of growth opportunity that measured byMarket To Book Value of Assets (MVABVA), net working capital that measuredby comparing the amount of net current assets minus cash and cash equivalentswith total non cash assets, and profitability measured by Return On Equity (ROE)on cash holding that measured by comparing the amount of cash and cashequivalents with total non cash assets, using non financial company listed in BEI2010-2014 as samples. The result shows that growth opportunity is positivelycorrelated with cash holding, net working capital is negatively correlated withcash holding, and profitability is positively correlated with cash holding;This study aimed to examine the effect of growth opportunity that measured byMarket To Book Value of Assets (MVABVA), net working capital that measuredby comparing the amount of net current assets minus cash and cash equivalentswith total non cash assets, and profitability measured by Return On Equity (ROE)on cash holding that measured by comparing the amount of cash and cashequivalents with total non cash assets, using non financial company listed in BEI2010-2014 as samples. The result shows that growth opportunity is positivelycorrelated with cash holding, net working capital is negatively correlated withcash holding, and profitability is positively correlated with cash holding;This study aimed to examine the effect of growth opportunity that measured byMarket To Book Value of Assets (MVABVA), net working capital that measuredby comparing the amount of net current assets minus cash and cash equivalentswith total non cash assets, and profitability measured by Return On Equity (ROE)on cash holding that measured by comparing the amount of cash and cashequivalents with total non cash assets, using non financial company listed in BEI2010-2014 as samples. The result shows that growth opportunity is positivelycorrelated with cash holding, net working capital is negatively correlated withcash holding, and profitability is positively correlated with cash holding;This study aimed to examine the effect of growth opportunity that measured byMarket To Book Value of Assets (MVABVA), net working capital that measuredby comparing the amount of net current assets minus cash and cash equivalentswith total non cash assets, and profitability measured by Return On Equity (ROE)on cash holding that measured by comparing the amount of cash and cashequivalents with total non cash assets, using non financial company listed in BEI2010-2014 as samples. The result shows that growth opportunity is positivelycorrelated with cash holding, net working capital is negatively correlated withcash holding, and profitability is positively correlated with cash holding;This study aimed to examine the effect of growth opportunity that measured byMarket To Book Value of Assets (MVABVA), net working capital that measuredby comparing the amount of net current assets minus cash and cash equivalentswith total non cash assets, and profitability measured by Return On Equity (ROE)on cash holding that measured by comparing the amount of cash and cashequivalents with total non cash assets, using non financial company listed in BEI2010-2014 as samples. The result shows that growth opportunity is positivelycorrelated with cash holding, net working capital is negatively correlated withcash holding, and profitability is positively correlated with cash holding;This study aimed to examine the effect of growth opportunity that measured byMarket To Book Value of Assets (MVABVA), net working capital that measuredby comparing the amount of net current assets minus cash and cash equivalentswith total non cash assets, and profitability measured by Return On Equity (ROE)on cash holding that measured by comparing the amount of cash and cashequivalents with total non cash assets, using non financial company listed in BEI2010-2014 as samples. The result shows that growth opportunity is positivelycorrelated with cash holding, net working capital is negatively correlated withcash holding, and profitability is positively correlated with cash holding, This study aimed to examine the effect of growth opportunity that measured byMarket To Book Value of Assets (MVABVA), net working capital that measuredby comparing the amount of net current assets minus cash and cash equivalentswith total non cash assets, and profitability measured by Return On Equity (ROE)on cash holding that measured by comparing the amount of cash and cashequivalents with total non cash assets, using non financial company listed in BEI2010-2014 as samples. The result shows that growth opportunity is positivelycorrelated with cash holding, net working capital is negatively correlated withcash holding, and profitability is positively correlated with cash holding]"

"ABSTRAKSkripsi ini menganalisis pengaruh teori catering dalam penentuan harga nominal saham. Penelitian ini menggunakan variabel bebas yang dikonstruksi yaitu perhitungan PCME dan PSMB yang diukur dari nilai log rasio market to book serta perhitungan nilai abnormal return yang diukur melalui actual return dari expected return. Variabel terikat penelitian adalah persentase split, pertimbangan luas terhadap kenaikan atau penurunan harga saham agregat, rata-rata harga nominal IPO, harga saham rata-rata setelah split dan return satu tahun kedepan. Penelitian menggunakan metode data panel dari time series. Hasil penelitian menunjukkan bahwa saham dengan nilai valuasi market to book yang tinggi pada perusahaan berkapitalisasi besar cenderung meningkatkan nominal harga setelah pemecahan saham.

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ABSTRACTThis research analyzes the impact of catering theory in determining the nominal price of shares. This study uses independent variables that are constructed, which are PCME and PSMB calculations measured from log of market to book ratio and calculation of abnormal return measured by actual return of expected return. The dependent variable of the research is the percentage of split, wide consideration of aggregate stock price increase or decrease, average nominal price of IPO, average share price after split and return one year ahead. The research used panel data method from time series. The results showed that stocks with market valuation value of high book value in large capitalized companies tend to increase the nominal price after stock split."

"Penelitian ini bertujuan untuk menganalisis pengaruh Intellectual Capital (IC) terhadap kinerja perusahaan yang terdaftar di Bursa Efek Indonesia (BEI) pada periode 2018-2022. Intellectual Capital diukur menggunakan metode Market Value Added Intellectual Coefficient (MVAIC). Kinerja perusahaan diukur dengan rasio Market to Book Value (MBV), sementara variabel kontrol yang digunakan adalah ukuran perusahaan (SIZE) dan Leverage (LEV). Sampel penelitian ini terdiri dari 24 perusahaan yang tersebar di enam sektor industri, yakni sektor keuangan, manufaktur, perdagangan, jasa, properti, dan infrastruktur. Data yang digunakan merupakan data sekunder yang diperoleh dari laporan tahunan perusahaan yang tersedia di situs resmi BEI dan berbagai sumber publikasi terkait lainnya. Metode analisis yang digunakan dalam penelitian ini adalah regresi data panel dengan pendekatan Fixed Effect Model (FEM) dan hasil penelitian menunjukkan bahwa Intellectual Capital, yang diukur melalui MVAIC, secara signifikan berpengaruh positif terhadap kinerja perusahaan yang diukur dengan Market to Book Value. Pada komponen Intellectual Capital, MVAIC memiliki pengaruh yang signifikan terhadap kinerja perusahaan. Selain itu, variabel kontrol SIZE dan LEV juga ditemukan memiliki pengaruh yang signifikan terhadap kinerja perusahaan dan hal ini menyimpulkan bahwa Leverage yang lebih tinggi dan ukuran yang lebih efisien cenderung memiliki kinerja pasar yang lebih baik. Dari hasil ini mengindikasikan bahwa pengelolaan Intellectual Capital yang efektif dapat meningkatkan nilai pasar perusahaan, yang pada akhirnya berdampak positif terhadap kinerja perusahaan.

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This research aims to analyze the influence of Intellectual Capital (IC) on the performance of companies listed on the Indonesia Stock Exchange (BEI) in the 2018-2022 period. Intellectual Capital is measured using the Market Value Added Intellectual Coefficient (MVAIC) method. Company performance is measured by the Market to Book Value (MBV) ratio, while the control variables used are Company Size (SIZE) and Leverage (LEV). The research sample consisted of 24 companies spread across six industrial sectors, namely the financial, manufacturing, trade, services, property and infrastructure sectors. The data used is secondary data obtained from company annual reports available on the official IDX website and various other related publication sources. The analytical method used in this research is panel data regression with the Fixed Effect Model (FEM) approach and the research results show that Intellectual Capital, as measured through MVAIC, has a significantly positive effect on company performance as measured by Market to Book Value. In the Intellectual Capital component, MVAIC has a significant influence on company performance. In addition, the control variables SIZE and LEV were also found to have a significant influence on company performance and this concludes that higher Leverage and more efficient size tend to have better market performance. These results indicate that effective Intellectual Capital management can increase the company's market value, which ultimately has a positive impact on company performance."

"Penelitian ini bertujuan untuk menguji pengaruh dari intellectual capital terhadap kinerja keuangan serta nilai pasar perusahaan. Dengan menggunakan model Value Added Intellectual Coefficient (VAIC™) (Pulic, 1998, 2004; Ghosh dan Mondal, 2009; Yalama, 2013), penelitian ini menguji hubungan antara efisiensi VAIC™ dari 3 (tiga) sumber daya utama perusahaan, yakni: aset fisik, human capital, dan structural capital dengan variabel kinerja keuangan perusahaan (yang diproksikan dengan ROA dan ROE), dan variabel nilai pasar perusahaan (yang diproksikan dengan MBV). Data yang digunakan adalah perusahaan padat intellectual capital di Indonesia, yakni perusahaan sektor otomotif, media dan periklanan, perbankan, bioteknologi, teknologi informasi, perkreditan (selain perbankan), kabel, asuransi, farmasi, properti, layanan telekomunikasi, dan keamanan. Sementara perusahaan tidak padat intellectual capital di Indonesia yakni perusahaan barang dan pakaian, makanan, minuman, dan tembakau, jasa transportasi, pertambangan dan jasa pertambangan, serta perdagangan grosir dan eceran yang terdaftar di Bursa Efek Indonesia pada periode 2009 – 2018. Pada akhirnya, akan dilakukan komparasi atas hasil dari perusahaan padat intellectual capital dan tidak padat intellectual capital di Indonesia. = The purpose of this study is to investigate the relation between intellectual capital, financial performance, and firms market value. By using Value Added Intellectual Coefficient (VAIC™) (Pulic, 1998, 2004; Ghosh dan Mondal, 2009; Yalama, 2013) model, this research examine the relationship between the VAIC™ by 3 (three) major components of firms resources, which are: physical asset, human capital, and structural capital and analyzing the relation between intellectual capital and financial performance variable (proxied by ROA and ROE), and firms market value variable (proxied by MBV). Data are drawn from corporate with High-IC Intensive that are companies from automotive and allied product, media and advertising, banks, biotechnology, computer and services, credit agency (other than banks), cable, insurance, pharmaceutical, property and real estate, telecommunication services, and security industries. Whilst from the Low-IC Intensive, are companies from consumer durables and apparels, foods, beverages, and tobaccos, transportation services, mining and mining services, and wholesale and retail trade that are listed in Indonesia Stock Exchange from the period of 2009 – 2018. Other output will be comparing the results from High-IC Intensive and Low-IC Intensive companies in Indonesia."

"Penelitian ini bertujuan untuk menguji pengaruh dari intellectual capital terhadap kinerja keuangan perusahaan teknologi di empat negara Associations of Southeast Asian Nations (ASEAN). Penelitian menggunakan pendekatan kuantitatif dengan menggunakan model Value Added Intellectual Coefficient (VAIC™) dari Pulic (1998 dan 2004). Di dalam penelitian ini, baik pengaruh VAIC™ maupun unsur-unsur pembentuknya yaitu aset fisik, human capital, dan structural capital terhadap variabel kinerja keuangan perusahaan berdasarkan nilai buku (dengan proksi Net Profit Margin, Return of Assets, dan Return of Equity), dan secara pasar (dengan proksi Market to Book Value). Adapun sampel penelitian menggunakan data 127 perusahaan teknologi di Indonesia, Singapura, Malaysia dan Thailand. Perusahaan teknologi yang dimaksudkan adalah perusahaan yang bergerak pada subsektor financial technology, software & Information Technology, dan technology equipment. Hasil penelitian menunjukkan adanya pengaruh dari structural capital dan aset fisik terhadap kinerja keuangan perusahaan berdasarkan nilai buku. Penelitian ini juga menunjukkan adanya perbedaan yang signifikan terkait dampak intellectual capital berikut dengan ketiga unsur pembentuknya di antara empat negara ASEAN yang diteliti.

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This study aims to examine the effect of intellectual capital on the financial performance of technology companies in the four Associations of Southeast Asian Nations (ASEAN) countries. This research uses a quantitative approach using the Value Added Intellectual Coefficient (VAIC™️) model from Pulic (1998, 2004). In this study, both the influence of VAIC™️ and its constituent elements, namely physical assets, human capital, and structural capital on the company's financial performance variables based on book value (with Net Profit Margin, Return of Assets, and Return of Equity as proxies), and market value (with Market to Book Value as the proxy). The research sample uses data from 127 technology companies in Indonesia, Singapura, Malaysia and Thailand. The technology companies refer to companies engaged in the financial technology, software & Information Technology, and technology equipment sub-sectors. The results of the study show that the structural capital and physical assets affect the company's financial performance based on book value. This study also shows that there are significant differences on the impact of intellectual capital and its three constituent elements amongst the four ASEAN countries that are studied"