Journal of Accounting Inquiry
Vol. 2 No. 1 (2023)

Do Intellectual Capital and Financial Performance Connect With Stock Price Volatility?

Haidar Baqir Hidayat (Universitas Islam Negeri Sunan Kalijaga Yogyakarta)
Prasojo Prasojo (Universitas Islam Negeri Sunan Kalijaga Yogyakarta)



Article Info

Publish Date
26 Apr 2023

Abstract

Purpose: This study aims to analyze the effect of intellectual capital (IC) and financial performance on stock price volatility Methodology: The methodology used is a quantitative approach with panel data regression analysis. The sample selection method used a purposive sampling method with criteria set by the researchers resulting in 37 mining companies from 2014 - 2021. Findings: The results of this study indicate that human capital, structural capital, and capital employed do not affect stock price volatility. Relational capital has a significant positive effect on stock price volatility. Furthermore, earnings volatility and return on assets show a significant positive effect on stock price volatility. The results of this study reject the assumptions of the resource-based view theory. This study has implications for practices in the capital market, where most investors have yet to consider IC in their investment decisions. Novelty: Not much research has been done on the renewal of stock price volatility; The intellectual capital factor uses the Value-Added Intellectual Capital (VAIC) method in the form of human capital, structural capital, employed capital and rational capital; The financial performance factors used are earning volatility, dividend payout ratio and return on assets; Renewal of research objects using mining sector companies; Research data from 2016-2021.

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Journal Info

Abbrev

JAI

Publisher

Subject

Economics, Econometrics & Finance Social Sciences

Description

Journal of Accounting Inquiry is an open access and peer-reviewed journal published by Fakultas Ekonomi dan Bisnis Islam, UIN Sunan Kalijaga Yogyakarta in collaboration with APSAS. Journal of Accounting Inquiry invites researchers, academics, and practitioners to publish their original, conceptual, ...