ANALISIS PENGARUH INTELLECTUAL CAPITAL TERHADAP RETURN SAHAM DENGAN KINERJA KEUANGAN SEBAGAI VARIABEL MODERASI

This research has main object to analyze the effect of intellectual capital on stock returns with financial performance as a moderating variable. Independent variables used in this study is a component of intellectual capital consisting of Value Added of Human Capital (VAHU), Structural Capital Value Added (STVA), and Value Added of Capital Employed (VACA). The dependent variable used in this study is the stock return, while financial performance is used as a moderating variable measured by return on equity (ROE). This study used a sample of companies listed on the Indonesian Stock Exchange (IDX) in the period of observation 2013-2015. The data used was secondary data. The sampling method used was purposive sampling method and obtained 158 companies are used as a sample. Methods of data analysis using regression analysis of moderation with a significance level of 5%. The first analysis with descriptive statistics test and then proceed with the classical assumption test. The results test showed ROE was not able to moderate the relationship Value Added Intellectual Coefficient (VAIC ™) on stock returns. Keywords: Intellectual Capital, Stock Return, Return on Equity, Moderated Regression Analyze