EFFECT OF INTELLECTUAL CAPITAL AND INSTITUTIONAL OWNERSHIP ON THE FINANCIAL PERFORMANCE OF PHARMACEUTICAL COMPANIES IN INDONESIA

DOI: https://doi.org/10.33650/profit.v9i2.11895

Authors (s)


(1)  Ershazkiya Raudlatishafa   (Universitas Pembangunan Nasional "Veteran" Jawa Timur)  
        Indonesia
(2) * Erna Sulistyowati   (Universitas Pembangunan Nasional "Veteran" Jawa Timur)  
        Indonesia
(*) Corresponding Author

Abstract


This study's primary goal is to investigate how institutional ownership and intellectual capital affect the financial performance of pharmaceutical businesses that are listed on the Indonesia Stock Exchange (IDX) between 2019 and 2023. In order to evaluate the association between the variables, this study uses a quantitative approach that starts with descriptive statistical analysis and ends with panel data regression. Purposive sampling was used to choose ten pharmaceutical sub-sector enterprises from the population, which is made up of businesses in the healthcare industry. The firms' yearly financial reports, which were retrieved from the official IDX website, provided secondary data. The Fixed Effect Model (FEM) strategy was selected based on the outcomes of model testing. The results show that institutional ownership and intellectual capital have no discernible impact on pharmaceutical businesses' financial success. This implies that institutional ownership and intellectual capital have not yet reached their full potential in improving business performance.

Keywords

Intellectual Capital; Institutional Ownership; Financial Performaance



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Profit : Jurnal Kajian Ekonomi dan Perbankan Syariah
Published by Islamic Faculty of Nurul Jadid University, Probolinggo, East Java, Indonesia.