The Impact of Intellectual Capital on Company Value as Mediated by Financial Performance in Technology Companies in Indonesia, Malaysia, and Thailand

Authors

  • Samuel Mikhaya University Terbuka
  • Julia Safitri University Terbuka
  • Ceacilia Srimindarti University Terbuka

DOI:

https://doi.org/10.35870/jemsi.v11i3.4855

Keywords:

Intellectual Capital, Indonesia, Malaysia, Financial Performance, Thailand

Abstract

In recent years, technology has become an industry that is growing very rapidly. The development trend of the technology industry has valuations that are experiencing very high growth. Using technology, several companies have succeeded in achieving profits and achieving significant growth. This research aims to test and analyze the influence of Relational Capital, Human Capital and Structural Capital on Company Value which is mediated by Financial Performance. This research uses quantitative methods that are casual in nature. The population obtained consisted of 42 technology companies in Thailand, 61 technology companies in Malaysia, and 42 technology companies in Indonesia. The sample selection used purposive sampling, namely all companies in the technology sector that reported financial reports for five years within a 3 year period. The research results show that in Malaysia, ROA does not mediate significantly on STVA and MtBV, VACA and MtBV, and VAHU and MtBV. In Thailand, ROA does not mediate significantly on STVA and MtBV, VACA and MtBV, and VAHU and MtBV. In Indonesia, ROA does not mediate significantly on STVA and MtBV, VACA and MtBV, and VAHU and MtBV. 

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Author Biographies

  • Samuel Mikhaya, University Terbuka

    Faculty of Economics and Business, University Terbuka.

  • Julia Safitri, University Terbuka

    Faculty of Economics and Business, University Terbuka.

  • Ceacilia Srimindarti, University Terbuka

    Faculty of Economics and Business, University Terbuka.

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Published

2025-06-01

Issue

Vol. 11 No. 3 (2025): Juni 2025

Section

Articles

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Copyright (c) 2025 Samuel Mikhaya, Julia Safitri, Ceacilia Srimindarti

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How to Cite

Mikhaya, S., Safitri, J., & Srimindarti, C. (2025). The Impact of Intellectual Capital on Company Value as Mediated by Financial Performance in Technology Companies in Indonesia, Malaysia, and Thailand. JEMSI (Jurnal Ekonomi, Manajemen, Dan Akuntansi), 11(3), 1999-2009. https://doi.org/10.35870/jemsi.v11i3.4855

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