BAHASA INGGRIS

Tugas di buat untuk memenuhi tugas yang di berikan secara individu

Dosen pengampu : Umi Rachmawati ,M.Pd

Disusun Oleh:

SOLIHAH 17.0605.0006

PROGRAM STUDI S1 FARMASI

FAKULTAS ILMU KESEHATAN
UNIVERSITAS MUHAMAMMADIYAH MAGELANG
2019

PENGARUH INTELLECTUAL CAPITAL TERHADAP PROFITABILITAS

PADA PERUSAHAAN FARMASI DI BEI
SHEARLY PUTRI WIJAYA
she_snowdrop@yahoo.co.id
 Intellectual capital is the knowledge that can assist companies in creating a
product that attracted the attention of consumers. The existence of intellectual capital,
companies can maximize existing resources to create innovative products. Therefore,
this study aims to examine the effect of intellectual capital on the profitability of the
pharmaceutical company listed on the Indonesia Stock Exchange 2006-2010
period.Quantitative research design is a hypothesis. Research variables used are
intellectual capital (VAIC) and profitability, including return on asset (ROA), return
on equity (ROE) and earnings per share (EPS).
Companies studied were pharmaceutical company listed on the Indonesia
Stock Exchange study period from 2006-2010. Type of data used is quantitative data
obtained from the IDX website and ICMD. Data analysis techniques using simple
linear regression.The result showed that the positive effect on intellectual capital
return on asset (ROA), return on equity (ROE) and earnings per share (EPS). This is
because the company utilize and manage the intellectual capital owned by the well
and the maximum, so it can provide added value to earnings per share.

Intellectual Capital
Intellectual capital is defined as the sum of what is produced by the three
main elements of the organization (human capital, structural capital, customer
capital) related to knowledge and technology that can provide more value for the
company in the form of competitive advantage organizations (Sawarjuwono and
Kadir, 2003).
Ulum (2007) states that Human capital (HC) is a combination of genetic
inheritance, education, experience and attitude about life and business, represented
by employees. Stuctural Capital (SC) includes nonhuman storehouses of knowledge
in organizations, including databases, organizational charts, process manuals,
strategies, routines and all things that make a company value greater than the
material value. Customer capital is knowledge that is inherent in marketing
channels and customer relationships where one organizations develop it through
business. Measurement of intellectual capital according to Pulic (1998) in Pardede
(2010) indirect measurement towards IC to assess the efficiency of added value as a
result of the company's intellectual ability (Value Added Intellectual Coefficient-
VAIC). Using VAIC is due to presenting information about value creation
efficiency of tangible assets and intangible assets owned company. This model
 starts with the company's ability to create value added (VA). VA is calculated from
difference in output and input. VAIC is a sum of added value from capital
employed efficiency (CEE), human capital efficiency (HCE), and structural
efficiency (SCE).

Esain Research
Research design is quantitative with a hypothesis that aims to examine the effect of
intellectual capital towards profitability in pharmaceutical companies listed on the Indonesia
Stock Exchange for the period 2006-2010. Identification, Operational Definition and
Measurement of Variables This study uses two variables, including:
1. Independent variable, namely intellectual capital (IC).
2. The dependent variable is profitability, which includes:
a. Return on Assets (ROA)
b. Return on Equity (ROE)
c. Earning per Share (EPS)
The operational definitions of the variables used and their measurements are as
follows:
1. Intellectual capital (IC) is the sum of what is produced by the three main elements of the
organization (human capital, structural capital, customer capital) relating to knowledge and
technology that can provide value more for companies in the form of organizational
competitive advantage. Measurement of IC uses proxy Value Added Intellectual Coefficient
(VAIC) as a method of measuring intellectual capital (Ulum, 2007). VAIC can be calculated
as follows: VAIC = CEE + HCE + SCE In calculating CEE, HCE, and SCE, the first step is
to calculate the value added (VA). VA calculations can be calculated as follows: VA = OUT -
IN.
2. Profitability is a ratio that measures how the company's returns are compared to
sales, asset investment, and equity (Gitman, 2009: 65-69). There are 3 profitability proxies,
namely:
a. Return on Assets (ROA) is a ratio to measure the rate of return on total assets
b. Return on Equity (ROE) is a ratio to measure the return on equity of a company.
c. Earning per share (EPS) is the amount of profit in a given period for each common stock
circulating during the reporting period.
 Based on the results of analysis and discussion, it can be concluded that intellectual
capital has an effect positive for Retun on Asset, this is because the company maximizes the
use of its assets to encourage the quality of employees owned to increase the profits
generated. Intellectual capital positive effect on Return on Equity. This is because the return
on capital is only affected by factors in the form of employee knowledge. Intellectual capital
has a positive effect on earnings per share. This matter because the company is able to utilize
and manage intellectual capital that is owned well and maximum, so that it can provide added
value to earnings per share.
JOURNAL
The results of this study are expected to provide evidence about the influence of
VAIC on profitability, however this study still has limitations including:
1. The research period is relatively short so that the consistency of this research may still
need to be tested again.
2. The object of research is a pharmaceutical company whose numbers are too small, so the
results are not maximal.
Based on the conclusions of the study, the suggestions that can be given are as follows:
1. For further researchers can use broader performance measures such as liquidity ratios,
solvency,
profitability and other ratios and using other types of industry.
2. For investors, it is necessary to pay attention to intellectual capital, which is important
information that is related
with company profitability, especially company profits.
1. Effect of VAIC on ROA
VAIC has a positive and significant effect with the ROA variable, this can be seen
from the results of the t test between VAIC with ROA showing a significance value of 0.045.
There is an influence between IC and ROA due to the company maximizes the use of its
assets to encourage the quality of employees owned by us increase the profit generated.

2. Influence between VAIC and ROE

VAIC has a positive and significant effect on ROE. This can be seen from the
results of the t test where the significance equal to 0.001, which means that VAIC has an
effect on ROE. The influence of intellectual capital on ROE can be caused because the capital
obtained by investors is more used to fund activities company operations.
3. The influence between VAIC and EPS
 VAIC has an effect on EPS, this is known from the results of the t test which has a
significance value of 0.001. EPS is obtained from the comparison between net income minus
preferred stock dividends and average weighted ordinary shares outstanding. According to
Rachmawati and Susilowati (2006) in Wijoyo (2010) companies in Indonesia are tangible
intensive, so capital from shares is not used for intellectual capital which is more directed at
innovation.
4. The influence between VAIC on profitability
VAIC has an effect on profitability, this is known from the results of the t test for
ROA, ROE, and EPS that have significance value of less than 0.05. So that it is consistent
with the research conducted by Putranto (2011) and against the research conducted by
Wijoyo (2010). So the higher the intellectual capital in a company, the company will be
increasingly helped to achieve high profitability.
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