PENGARUH GOODWILL, RESEARCH AND DEVELOPMENT (RnD), DAN INTELLECTUAL CAPITAL TERHADAP NILAI PASAR PERUSAHAAN

Abstract

This study aimed to examine the effect of goodwill, research and
deveopment (RnD) as well as the intellectual capital of the firm's market
value. Sampling method used is purposive sampling with the following
criteria: (1) the Issuer is in the manufacturing industry that registered shares
are actively traded on the Indonesia Stock Exchange during the period from
2009 to 2013, (2) the Issuer to publish a full annual financial statements for
the period December 31, 2009 - December 31, 2013, (3) the Issuer has a
record stock price at the close end of the year, (4) the Issuer has the value of
intangible assets is positive and (5) Has the complete data related to the
variables used in this study.
Based on these criteria, of the 142 companies listed in the Indonesia
Stock Exchange acquired 28 companies were used as a sample. Analyzer
used to test the hypothesis of this study is multiple regression analysis.The
result showed that (1) Goodwill negatively effect the market value of the
company, (2) Research and development (RnD) positive effect about the
market value of the company and (3) Intellectual capital positive effect on the
market value of the company.