THE EFFECT OF OWNERSHIP STRUCTURE AND INTELLECTUAL CAPITAL ON FINANCIAL PERFORMANCE OF COMPANIES (Empirical Study on State-Owned Enterprises listed on the Indonesia Stock Exchange 2015-2020)
Abstract
The use of technology and good human resources will have an impact on the company's financial performance. This will be a special attraction for investors, to invest their funds for the company so that the company's image will also improve. Financial performance reflects the condition of the company at that time. One of the factors that can affect the company's financial performance is the Ownership Structure, especially Managerial Ownership and Institutional Ownership, differences in interests will cause conflicts and reduce company performance. The existence of intellectual capital is also a factor that can affect financial performance, given the intense competition in an uncertain future, making companies cannot only affect tangible assets. The main objective of this study is to determine the effect of managerial and institutional ownership structure and intellectual capital on the financial performance of State-Owned Enterprises (BUMN) listed on the Indonesia Stock Exchange (IDX) for the 2015-2020 period. The sample used is as many as 12 companies with a total of 72 data within a period of 6 years. The sampling method used purposive sampling. From secondary data which is processed using eview 9 analysis. The results show that managerial ownership, institutional ownership and intellectual capital simultaneously have a significant effect on financial performance. However, partially, only institutional ownership has a significant effect on the company's financial performance, while managerial ownership and intellectual capital get the opposite result.
Keywords: Financial Performance, Managerial Ownership, Institutional Ownership, Intellectual Capital
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