| dc.description.abstract | This study aimed to analyze the influence of intellectual capital towards firm value and risk of financial distress in ASEAN Countries such as Indonesia, Malaysia, Philippines, and Thailand. The subject of this research was 36 banking companies listed in Indonesia Stock Exchange (BEI), 30 banking companies listed in Bursa Malaysia (BM), 27 banking companies listed in Philippines Stock Exchange (PSE), and 30 banking companies listed in Stock Exchange of Thailand (SET) in year period of 2015 – 2017. The sampling method used in this research is purposive sampling. The data obtained from the annual reports in Indonesia Stock Exchange, Bursa Malaysia, Philippines Stock Exchange, and Stock Exchange of Thailand. Independent variable in this research is intellectual capital that is measured with VAIC (Value Added Intellectual Capital). The dependent variable are firm value that is measured by Market to Book (M/B) and risk of financial distress that is measured with Z-Score Index. The data analysis used the descriptive statistics test, classical assumption test, and test of hypothesis.
The result showed that: Intellectual Capital positively influences firm value of banking companies in Indonesia and negatively influences firm value of banking companies in Thailand, but it does not influences firm value of banking companies in Malaysia and Philippines. Intellectual Capital negatively influences on risk of financial distress of banking companies in Thailand and positively influences on risk of financial distress of banking companies in Malaysia, but it does not influences on risk of financial distress of banking companies in Indonesia and Philippines. | en_US |
