Peranan Diversifikasi terhadap Hubungan Pendedahan Modal Intelek dengan Nilai Firma
The Role of Diversification on the Relationship between Intelectual Capital Disclosure and Firm Value

Graduate School of Business
Universiti Sains Malaysia,
11800 USM, Pulau Pinang

fathashim@yahoo.com

Faculty of Economics and Management
Universiti Kebangsaan Malaysia,
43600 UKM Bangi, Selangor

romlah@ukm.my

Faculty of Economics and Management
Universiti Kebangsaan Malaysia,
43600 UKM Bangi, Selangor

sabri1@ukm.my

Faculty of Economics and Management
Universiti Kebangsaan Malaysia,
43600 UKM Bangi, Selangor

zbas@ukm.my

Abstract

This study examines the influence of diversification on the relationship between intellectual capital disclosure (overall intellectual capital, internal capital, external capital and human capital disclosure) and firm value of 233 firms that are listed on the Main Board of Bursa Malaysia on 31 December 2007. Previous studies provide evidence of a positive relationship between intellectual capital disclosure and firm value. Previous studies also indicate that diversified firms which are perceived to be more capable to develop and invest in intellectual capital are more likely to make voluntary disclosures. However, empirical evidences on the effect of diversification on firm value are inconsistent with the theory. Results of multiple regressions indicate that there is a positive and significant relationship between intellectual capital disclosure and firm value. The result of the study also indicates that diversification has a significant influence on the relationship between intellectual capital disclosure and firm value. The relationship is stronger for high diversification firms. This result suggests that diversification can moderate the relationship between intellectual capital disclosure and firm value. Further, this study indicates that firms that are highly diversified and provide high level of external capital disclosure will show the stronger relationship between external capital disclosure and firm value. This indicates that managers of highly diversified firms should emphasize on the importance of external intellectual capital disclosure so that the firm value will not be undervalued.

Keywords

Modal Intelek; Nilai Firma

Citation

Hashim, F., Jaffar, R., Hassan, M. S., & Abdul Shukor, Z. A. (2012). Peranan Diversifikasi terhadap Hubungan Pendedahan Modal Intelek dengan Nilai Firma. Jurnal Pengurusan, 35, 43–55.

@article{hashim2012peranan,
  title={Peranan Diversifikasi terhadap Hubungan Pendedahan Modal Intelek dengan Nilai Firma},
  author={Hashim, Fathyah and Jaffar, Romlah and Hassan, Mohamat Sabri and Abdul Shukor, Zaleha},
  journal={Jurnal Pengurusan},
 

volume={35},
  number={},
  pages={43—55},
  year={2012},
  doi={},
  publisher={Penerbit UKM},
}

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35 (2012) 43 – 55

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