Global Academy of Training and Research Journal

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DOI 10.35609/afr.2017.2.2(8)

Reference to this paper should be made as follows: Putri, N.A; Gumanti, T.A; Fadah, I; Supriyadi. (2017). Do Intellectual Capital, Corporate Social Responsibility, and Good Corporate Governance Affect Indonesia's Mining Companies Value?, Acc. Fin. Review, 2 (2): 57 – 63. https://doi.org/10.35609/afr.2017.2.2(8)

Received: January 21, 2017 | Accepted: March 12, 2017

Do Intellectual Capital, Corporate Social Responsibility, and Good Corporate Governance Affect Indonesia's Mining Companies Value?
Nadia Azalia Putri,Tatang Ary Gumanti,Isti Fadah and Supriyadi
University of Jember, Indonesia Abstract

Objective - The purpose of this study was to analyze the effect of Intellectual Capital (IC), Corporate Social Responsibility (CSR) disclosure, and Good Corporate Governance (GCG) on the value of mining companies (as measured by Tobin's Q) listed in Indonesia Stock Exchange period 2011-2015.

Methodology/Technique - Intellectual capital was measured by Value Added Capital Employed (VACA), Value Added Human Capital (VAHU), and Structural Capital Value Added (STVA). CSR disclosure was measured using Global Reporting Initiative index. GCG was proxied using independent commissioner, managerial ownership, audit committee, and institutional ownership. Empirical analysis was conducted using linear multiple regression analysis. The samples consisted 15 mining firms.

Findings - The results showed that VACA, VAHU, and institutional ownership had a positive and significant effect on company value. STVA and independent commissioner have a positive but insignificant effect on company value. Audit committee and managerial ownership have a negative and insignificant effect on company value.

Novelty - The study suggests managers to improve the company value by investing IC subcomponents; that is, physical capital and human capital and also add the number of shares held by institutions.

Type of Paper: Empirical

Keywords: Company Value; Corporate Social Responsibility; Good Corporate Governance; Intellectual Capital.

JEL Classification: M14, M41, M51

Price: USD 25