Competitive Strategy Essay

5511 words - 22 pages

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PERAN STRATEGIS INTELLECTUAL CAPITAL SEBAGAI VARIABEL ANTARA PENGARUH FINANCIAL CAPITAL TERHADAP KINERJA PERUSAHAAN.
Moh. Nasih mhnasih@yahoo.com
Fakultas Ekonomi Universitas Airlangga
ABSTRACT According to the classical theory of the firm, a firm can create value and earn maximum profits through financial capital. This view is valid in a stable environment. In recent decades, environmental conditions getting really erratic. Therefore, the role of financial capital in creating value and profitability is questionable. According to the modern theory of enterprise, intellectual capital is more dominant than the financial capital. This study aimed to examine the relationship/influence of financial capital and intellectual capital, directly or indirectly, to the company's financial performance among banking companies in Indonesia. Data obtained from banks, which in a single entity. Data that qualify the requirements is processed by using Structural Equation Modeling (SEM). The analysis showed that that the financial capital (assets) indirectly influential, positive, and has significant impact on the firm's financial performance through intellectual capital and non-financial performance. Indirect effect on the financial performance of assets through intellectual capital is estimated at 0.166 and through non-financial performance to financial performance estimated at 0,600 (ROA) and at 0.617 (NI). Thus it is true that intellectual capital is a strategic asset that mediates the creation of superior performance of banking companies in Indonesia. Keyword: financial capital, intellectual capital, non financial performance, financial performance.
PENDAHULUAN Setiap perusahaan mempunyai modal (capital) serta sumberdaya. Tanpa modal dan sumberdaya, perusahaan tidak mempunyai kekuatan untuk beroperasi, menghasilkan barang dan jasa, serta menciptakan nilai dan keuntungan. Terdapat dua tipe sumberdaya yakni (1) sumberdaya berwujud (tangible resources), dan (2) sumberdaya tidak berwujud (intangible resources). Sumberdaya berwujud adalah aktiva berwujud dan aktiva tidak berwujud yang dapat disajikan dalam neraca (balance sheet assets); sedangkan aktiva tidak berwujud yang tidak dapat disajikan dalam neraca (off balance sheet assets) disebut dengan sumberdaya tidak berwujud. Pandangan klasik memberikan perhatian lebih pada aset karena peranannya dianggap lebih dominan dalam menghasilkan barang, jasa, dan keuntungan. Saat ini, duaratus tahun setelah Adam Smith mengungkapkan potensi dan peran penting perusahaan dan pengolahan dalam perekonomian (economic society), kondisi lingkungan usaha benar-benar berubah dan berbeda. Kondisi lingkungan usaha yang stabil dan tanpa persaingan

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hampir tidak dapat dijumpai. Era ini disebut sebagai era informasi. Lingkungan usaha dipenuhi oleh ketidakpastian, kebaruan, keragaman, kesementaraan, bergerak secara tidak beraturan dan tidak berkelanjutan; serta cenderung turbulent (De Geus, 1987). Pada sisi penawaran (supply side),...

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