Intellectual Capital Disclosure and Firm Value: Does Jokowi’s Era Matter?

DOI

10.2991/teams-18.2019.15How to use a DOI?

Keywords

disclosure; intellectual capital; firm value; Jokowi’s era

Abstract

The purpose of this study is to observe the impact of Intellectual Capital Disclosure (Human Capital Disclosure, Structural Capital Disclosure, and Relational Capital Disclosure), Firm Size and Leverage towards the firm value (measured by Tobin's Q). This study examines 36 Indonesia's listed companies from infrastructure, utility, and transportation industry in 5 years period, from 2013 to 2017. The periods that have been chosen in order to differentiate the performance of 2 years before and 3 years of Joko Widodo's era (Jokowi, President of Indonesia 2014-2019). Various results are found from the individual tests. None of the components from ICD has an influence on firm value during the pre-Jokowi’s era. The negative effect of RCD on firm value is found without differentiating the presidential era. In addition, the negative response from firm value is found when the interaction of ICD and the time period is increasing. This study conducts the content analysis of the IC disclosure in the annual reports, while it may not express the whole quality of IC practice. Furthermore, the company also may use other information channels than annual report to expose its IC performance. The restricted information of this study is driven by the sample size; therefore the extension of the type of industries could bring comprehensive results. Despite these limitations, this study contributes to the discussion about the appreciation of investors on the disclosures of IC and its components

Copyright

© 2019, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Saarce Elsye Hatane
AU  - Christine Olivia Angeline
AU  - Mayesa Wedysiage
AU  - Vanesa Theresa Saputra
PY  - 2019/01
DA  - 2019/01
TI  - Intellectual Capital Disclosure and Firm Value: Does Jokowi’s Era Matter?
BT  - Proceedings of the International Conference on Tourism, Economics, Accounting, Management, and Social Science (TEAMS 2018)
PB  - Atlantis Press
SP  - 80
EP  - 86
SN  - 2352-5428
UR  - https://doi.org/10.2991/teams-18.2019.15
DO  - 10.2991/teams-18.2019.15
ID  - Hatane2019/01
ER  -