Underpricing and Intellectual Capital Disclosure: Evidence from Indonesia

Widarjo, Wahyu; Rahmawati, Rahmawati; Bandi,; Widagdo, Ari Kuncara

doi:10.1177/1465750319857017

Cited by 5 publications

(4 citation statements)

References 38 publications

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“…They are quite relevant because the cultural and business environments in Indonesia and Malaysia are almost the same, seeing Indonesia and Malaysia are developing countries, in which Indonesia is still a lowermiddle-income country, while Malaysia is an upper-middle-income country (Djafar, 2012). Moreover, there is little research on intellectual capital disclosure in developing countries (Widarjo et al, 2019). On the other hand, there is a significant increase in the intellectual capital disclosure over three years, analyzed with external capital, human capital, and internal capital (Oliveras et al, 2008).…”

Section: Methodsmentioning

confidence: 99%

The Effect of Corporate Governance Mechanism on Intellectual Capital Disclosure of High IC-Intensive Companies in Indonesia and Malaysia

Rahmawati

Fadlurrahman

Azzahra

2021

JAI

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Research aims: This study examines the effect of corporate governance mechanisms, such as board size, CEO duality, number of the audit committee, board gender, and family ownership, on intellectual capital disclosures.Design/Methodology/Approach: The sample study was high intellectual capital (IC)-intensive companies listed on the Indonesia Stock Exchange and Malaysia Stock during 2017-2018.Research findings: For Indonesia, the results revealed that the number of the audit committee and board size had a positive and significant effect on intellectual capital disclosures. Meanwhile, in Malaysia, the results showed that audit committees had a positive and significant effect on intellectual capital disclosures.Theoretical contribution/Originality: This study adds literature on the effect of corporate governance mechanisms on intellectual capital disclosure of high IC-intensive companies in the development of the country context.

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Section: Methodsmentioning

confidence: 99%

The Effect of Corporate Governance Mechanism on Intellectual Capital Disclosure of High IC-Intensive Companies in Indonesia and Malaysia

Rahmawati

Fadlurrahman

Azzahra

2021

JAI

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“…Chahal & Bakshi (2016) show that intellectual capital as a multidimensional scale is measured by human assets/human capital (HC), rational capital, and structural capital, which significantly contribute to intellectual capital. Furthermore, Widarjo et al (2019) found that intellectual capital has a negative effect on underpricing.…”

Section: Perceptionmentioning

confidence: 99%

Intellectual Capital in Customer’s Perception of Sharia Banking in Pangkalpinang

Zukhri

Hidayati

Rosalina

2021

Society (Bangka. Online)

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This study investigates the influence of intellectual capital with the dimensions of Human Assets (HC), Structural Capital (SC), and Relationships (RC) on banking performance in the perceptions of customers on Syariah Bank in Pangkalpinang. The choice of method in this research is quantitative with the target of five Sharia banks in Pangkalpinang, namely Bank Syariah Mandiri, BRI Syariah, Bank SumselBabel Syariah, and Bank Muamalat. There were 20 questionnaires distributed in each Sharia bank. The measuring instrument used to calculate the variables is Structure Equation Modeling (SEM). The path coefficient value data processing or path coefficient bootstrapping analysis with the direction of the relationship obtained the human asset variable (HC) results, showing a positive number of 0.361. The structural capital variable (SC) shows a positive number of 0.436, the human asset variable (HC), and the capital variable structural (SC) has a positive effect on banking performance. For the relation variable (RC), the original value showed a positive number of 0.076. The t-statistic value was smaller than the t-value, 0.704 <1.96 so that the relationship variable had no positive effect on banking performance.

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“…In Indonesia, intellectual capital disclosure for each industry sector is relatively low, with an average of 50% of each component (Mukhibad & Setyawati, 2019;Purnomosidhi, 2006). In more detail, financial companies disclosed only 6.27% (M. W. Ningsih & Laksito, 2014), 22.29% for non-financial companies (Leonard & Trisnawati, 2015), 36.38% for the banking sector (Utama & Khafid, 2015), and 39.9% in newly listed companies (Widarjo et al, 2019). This low level of disclosure is due to the lack of awareness of the importance of intellectual capital disclosure in developing competitive advantage and improving company value (Suhardjanto & Wardhani, 2010).…”

Section: Introductionmentioning

confidence: 99%

The Impact of Voluntary and Involuntary Intellectual Capital Disclosure on Firm Value

Luthfiani

Suryani

2022

IJAR

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The digital era has changed corporate asset structures and business models. It requires companies to have more value-added resources to be more competitive, one of which is intellectual capital. Prior studies have analyzed the intellectual capital disclosure in annual reports. This approach, however, is unable to identify the depth of intellectual capital information. This study builds on previous studies using the involuntary disclosure concept to examine how information created by stakeholders and other parties outside of management may affect a company's reputation. In addition to annual reports, this study also measures intellectual capital disclosure information using new data sources such as social media and online business media. This study examines the impact of voluntary and involuntary disclosure of intellectual capital on a firm's value. The sample of this study consisted of 32 banks listed on the Indonesia Stock Exchange in 2019. The study results indicate that intellectual capital disclosure affects the firm value. These findings provide a practical implication for managers to disclose intellectual capital relevant to the market's demands and focus on the quality of the information to increase firm value and sustain in a competitive environment.

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Underpricing and Intellectual Capital Disclosure: Evidence from Indonesia

Cited by 5 publications

References 38 publications

The Effect of Corporate Governance Mechanism on Intellectual Capital Disclosure of High IC-Intensive Companies in Indonesia and Malaysia

The Effect of Corporate Governance Mechanism on Intellectual Capital Disclosure of High IC-Intensive Companies in Indonesia and Malaysia

Intellectual Capital in Customer’s Perception of Sharia Banking in Pangkalpinang

The Impact of Voluntary and Involuntary Intellectual Capital Disclosure on Firm Value

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