ANALISIS FAKTOR-FAKTOR PENENTU PENGUNGKAPAN MODAL INTELEKTUAL DAN PENGARUHNYA TERHADAP RETURN SAHAM (Studi Empiris Pada Perusahaan Non Keuangan yang Terdaftar di BEI)

Abstract

This study aims to consider the factors that affect the disclosure of intellectual capital, namely: the type of industry, firm size and leverage. This study also examined the effect of intellectual capital disclosure to the stock return. The samples used were secondary data from the Indonesia Stock Exchange (IDX) Annual Report of non-financial companies listed on the Stock Exchange in 2009. Samples were taken with a purposive sampling method, and who meet the criteria for sample selection. This study uses Multiple Linear Regression Analysis, with t statistics test the hypothesis testing and statistical test F. The results showed that the first model variable industry type and company size affect the intellectual capital disclosure (ICD), while the leverage variable has no effect on the ICD. Then in the second model showed that the ICD does not affect stock returns.