THE FACTORS EFFECTING FIRM PERFORMANCE EVIDENCE FROM INDONESIA
Main Article Content
Abstract
This study aims to validate and quantify the simultaneous and partial effects of Intellectual Capital, Firm Size Liquidity, on Financial Performance in real estate and property companies, based on the Indonesia Stock Exchange (IDX) 2021-2023 as a limitation field. This study uses a data processing method with the EViews version 12 application. This research determined 120 observational data that were taken using purposive sampling method with a total of 40 companies. The data used in this research is secondary data, collected through a literature review. The results show that Intellectual capital and Liquidity has a negligible impact on the Financial Performance, while firm size has a positive and substantial impact on the Financial Performance. Therefore, it can be inferred that Firm Size are accepted and Intellectual Capital and Liquidity is rejected.
Article Details

This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
This journal provides immediate open access to its content on the principle that making research freely available to the public supports a greater global exchange of knowledge.
IJAEB by Graduate Program of Universitas Tarumanagara is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.. Permissions beyond the scope of this license may be available at https://journal.untar.ac.id/index.php/ijaeb
References
Acuña-opazo, C., & Gonz, O. C. (2019). The impacts of intellectual capital on fi nancial performance and value-added of the production evidence from Chile. 26(51), 127–142. https://doi.org/10.1108/JEFAS-08-2019-0178
Adiputra, I. G., Wijaya, H., & Affandi, A. (2020). The Influence of Corporate Social Responsibility, Managerial Ownership, and Firm Size on Firm Performance: Evidence From Manufacturing Companies in Indonesia. 145(Icebm 2019), 106–111. https://doi.org/10.2991/aebmr.k.200626.020
Asutay, M., & Ubaidillah. (2024). Examining the Impact of Intellectual Capital Performance on Financial Performance in Islamic Banks. In Journal of the Knowledge Economy (Vol. 15, Issue 1). Springer US. https://doi.org/10.1007/s13132-023-01114-1
Brigham, E. F., & Ehrhardt, M. C. (1979). Financial Management Theory and Practice. In Sustainability (Switzerland) (Vol. 11, Issue 1). http://scioteca.caf.com/bitstream/handle/123456789/1091/RED2017-Eng-8ene.pdf?sequence=12&isAllowed=y%0Ahttp://dx.doi.org/10.1016/j.regsciurbeco.2008.06.005%0Ahttps://www.researchgate.net/publication/305320484_SISTEM_PEMBETUNGAN_TERPUSAT_STRATEGI_MELESTARI
Etim, E. O., Confidence, I. J., & Umoffong, N. J. (2020). Financial Performance Determinants at the Nigerian Oil and Gas Sector. December. https://doi.org/10.36349/easjebm.2020.v03i12.004
Hardianto, H., Sari, E. N., Astuty, W., Muhammadiyah, U., & Utara, S. (2023). the Effect of Intellectual Capital, Capital Structure, Liquidity and Firm Size on Financial Performance With an Independent Board of Commissioners As Moderation in Banking Companies in the Indonesian Stock Exchange. Jurnal Ekonomi, 12(04), 2023. http://ejournal.seaninstitute.or.id/index.php/Ekonomi
Hidayati, A., & Susilo, D. W. I. E. (2022). PENGARUH INTELLECTUAL CAPITAL DAN STRUKTUR MODAL TERHADAP KINERJA KEUANGAN DENGAN COMPETITIVE ADVANTAGE SEBAGAI VARIABEL INTERVENING ( Studi Kasus Perusahaan Sub Sektor Otomotif dan Komponennya yang Terdaftar di BEI Tahun 2016-2020 ). 11(2), 81–94.
Jensen, M. C., & Meckling, W. H. (1976). THEORY OF THE FIRM: MANAGERIAL BEHAVIOR, AGENCY COSTS AND OWNERSHIP STRUCTURE. The Corporate Financiers, 3, 305–360. https://doi.org/10.1057/9781137341280.0038
Kim, S. Y., & Tran, D. B. (2024). Intellectual capital and performance: evidence from SMEs in Vietnam. Asia-Pacific Journal of Business Administration, 16(4), 860–875. https://doi.org/10.1108/APJBA-08-2022-0343
Lestari, P. M., & Titisari, K. H. (2021). LIQUIDITY, SOLVABILITY AND FINANCIAL PERFORMANCE (STUDY ON MANUFACTURING COMPANIES LISTED IN INDONESIA STOCK EXCHANGE). PERCIPIENCE JOURNAL Social, Administration, and Entrepreneurship Journal, 1(1), 47–58. https://doi.org/10.33474/PERCIPIENCE.v1i1.12446
Liu, L., Zhang, J., Xu, J., & Wang, Y. (2022). Intellectual Capital and Financial Performance of Chinese Manufacturing SMEs: An Analysis from the Perspective of Different Industry Types. Sustainability (Switzerland), 14(17). https://doi.org/10.3390/su141710657
Muttaqin, M. F., & Adiwibowo, A. S. (2023). PENGARUH FINANCIAL LEVERAGE , LIKUIDITAS , UKURAN PERUSAHAAN , DAN ARUS KAS BEBAS TERHADAP KINERJA. 12, 1–12.
Octaviani, A. A., & Azzahra, K. (2022). THE INFLUENCE OF INTELLECTUAL CAPITAL AND SALES GROWTH ON THE COMPANY ’ S FINANCIAL PERFORMANCE ( Study on the Basic Chemical Industry Sub-Sector Listed on the IDX in. 1(4), 177–196.
pureperty. (2024, March 23). Industri Properti 2024: Antara Tantangan dan Peluang. https://pureperty.com/artikel/industri-properti-2024-antara-tantangan-dan-peluang
Putri, I. A. J., Budiyanto, & Triyonowati. (2023). Financial Performance and Firm Value: The Role of Signaling Theory. International Journal of Scientific Research and Management, 11(04), 4776–4783. https://doi.org/10.18535/ijsrm/v11i04.em01
Safitri, K., & Djumena, E. (2024, August 6). 772 Emiten Telah Laporkan Kinerja Keuangan, Tiga Sektor Ini Mengalami Lonjakan Pertumbuhan. https://money.kompas.com/read/2024/08/06/133900026/772-emiten-telah-laporkan-kinerja-keuangan-tiga-sektor-ini-mengalami-lonjakan
Sidik, S. (2023, December 7). Efek Suku Bunga Tinggi, Sektor Properti Diramal Masih Lesu Awal 2024. https://katadata.co.id/finansial/bursa/6571b1b6aac35/efek-suku-bunga-tinggi-sektor-properti-diramal-masih-lesu-awal-2024
Sinamo, M. A., Sudaryo, Y., Ismail, G. D., & Suryaningprang, A. (2024). The influence of current ratio ( CR ), debt to assets ratio ( DAR ), debt to equity ratio ( DER ), total assets turnover ( TATO ) on return on assets ( ROA ) in swarga farma pharmacies. 13(01), 832–847.
Situmorang, I. (2023). Pengaruh Current Ratio (CR) dan Debt to Equity Ratio (DER) terhadap Return on Asset (ROA) pada perusahaan sub sektor advertising, printing, and media yang terdaftar di BEI. JUBIMA : Jurnal Bintang Manajemen, 1(1), 165–179.
Spence, M. (1973). Job Market Signaling. The Quarterly Journal of Economics, 87(3), 355–374. http://www.jstor.org/stable/1882010
Tanor, M. O., Sabijono, H., & Walandouw, S. K. (2015). Analisis laporan keuangan dalam mengukur kinerja keuangan pada pt. bank artha graha internasional, tbk. 3(3), 639–649. https://media.neliti.com/media/publications/2729-ID-analisis-laporan-keuangan-dalam-mengukur-kinerja-keuangan-pada-pt-bank-artha-gra.pdf