Intellectual Capital and Profitability of Islamic Commercial Banks in Indonesia:

Ahmad Izzuddin; Mohammad Iqbal Irfany

doi:10.58968/ria.v5i1.599

Authors

Ahmad Izzuddin
Mohammad Iqbal Irfany IPB University

DOI:

https://doi.org/10.58968/ria.v5i1.599

Keywords:

Intangible Assets, Intellectual Capital, Islamic Commercial Bank, Profitability

Abstract

The aim of this study is to investigate the impact of intellectual capital on the profitability of Indonesian Islamic Commercial Banks (BUS), highlighting the significance of intangible assets in enhancing financial performance. Utilizing regression analysis, this study scrutinizes secondary data from BUS's quarterly financial reports between 2015-2020, focusing on the impact of Value Added Intellectual Capital (VAIC), Non-Performing Financing (NPF), and Capital Adequacy Ratio (CAR) on Return on Assets (ROA). The study reveals that VAIC has a significant positive effect on ROA, indicating that effective management of intellectual capital can enhance profitability. Conversely, NPF shows a significant negative impact on ROA, while CAR does not significantly affect ROA. The combined influence of GDP, CAR, NPF, and VAIC explains a substantial portion of the variance in ROA. The scope is confined to BUS within 2015-2020. Future research could extend globally and incorporate more variables to enrich insights. Islamic banks should prioritize the effective management of intellectual capital, particularly human resources, to boost profitability and gain a competitive edge. Regulatory bodies, like the OJK, are recommended to establish policies that support and guide the management of intellectual capital within the banking sector.This study provides novel insights into the significance of intellectual capital in improving the profitability of Indonesian Islamic banks, emphasizing the need for effective management strategies and regulatory policies to enhance the sector's performance and contribution to economic growth.

Downloads

Download data is not yet available.

References

Adyani, L. R., & Sampurno, R. D. (2011). Analisis faktor-faktor yang mempengaruhi profitabilitas (ROA). Jurnal Dinamika Ekonomi Pembangunan, 7(1), 46–54.

Anggraini, F., Hamid, M. A. A., & Kassim, A. A. M. (2017). Competitive advantage as mediating role of intellectual capital and university performance: An empirical study in Indonesia. In Universiti Putra Malaysia (Ed.), Governance and Sustainability of Global Business Economics: Proceedings of the Global Conference on Business and Economics Research (GCBER) 2017 (pp. 181–188). Universiti Putra Malaysia. Retrieved from https://econ.upm.edu.my/upload/dokumen/20170816181445023-FIVI_ANGGRAINI.pdf

Anisa, S. T., & Anwar, S. (2021). Determinan profitabilitas bank umum syariah di Indonesia dengan tingkat likuiditas sebagai variabel intervening. JPS (Jurnal Perbankan Syariah), 2(2), 131–149.

Barney, J. B., & Clark, D. N. (2007). Resource-based theory: Creating and sustaining competitive advantage. Oxford University Press.

Bank Indonesia. (2007). Surat Edaran Bank Indonesia No. 9/24/DPBS tanggal 30 Oktober 2007 tentang Sistem Penilaian Tingkat Kesehatan Bank Umum Berdasarkan Prinsip Syariah. Jakarta: Bank Indonesia.

Bank Indonesia. (2008). Peraturan Bank Indonesia (PBI) 10/15/PBI/2008. Jakarta: Bank Indonesia.

Bank Indonesia. (2019). Peraturan Bank Indonesia Nomor 21/12/PBI/2019 tentang Perubahan atas Peraturan Bank Indonesia Nomor 20/4/PBI/2018 tentang Rasio Intermediasi Makroprudensial dan Penyangga Likuiditas Makroprudensial bagi Bank Umum Konvensional, Bank Umum Syariah, dan Unit Usaha Syariah. Jakarta: Bank Indonesia.

Badan Pusat Statistik. (2021). Ekonomi Indonesia 2020 turun sebesar 2,07% (C-to-C). Retrieved December 5, 2022, from https://www.bps.go.id/website/images/Pertumbuhan-Ekonomi-Indonesia-Triwulan-IV-2020-ind.jpg

Dendawijaya, L. (2001). Manajemen Perbankan. Ghalia Indonesia.

Dewi, F. K., & Sudarsono, H. (2021). Analisis profitabilitas bank syariah di Indonesia pendekatan autoregressive distributed lag (ARDL). Al-Mashrafiyah: Jurnal Ekonomi, Keuangan, Dan Perbankan Syariah, 5(1), 59–74.

Hanania, L. (2015). Faktor internal dan eksternal yang mempengaruhi profitabilitas perbankan syariah dalam jangka pendek dan jangka panjang. Perbanas Review, 1(01).

Hasibuan, B. (2020). ROA, NPM, dan EPS pengaruhnya terhadap harga saham pada perusahaan sub sektor semen yang terdaftar di BEI 2015-2018. GOODWILL: Jurnal Penelitian Akuntansi, 2(2), 229–242.

Islamic Corporation for the Development of the Private Sector. (2021). Refinitiv: Islamic finance development report 2022 embracing change. Retrieved December 20, 2022, from https://www.refinitiv.com/en/resources/special-report/islamic-finance-development-report-2022

Jaya, I. G. N. M., & Sunengsih, N. (2009). Kajian analisis regresi dengan data panel. In Universitas Negeri Yogyakarta (Ed.), Prosiding Seminar Nasional Penelitian, Pendidikan dan Penerapan MIPA (pp. 51–58). Universitas Negeri Yogyakarta. Retrieved January 15, 2023, from https://core.ac.uk/download/pdf/33509954.pdf

Kementerian Keuangan. (2021). Islamic finance development: Opportunities and challenges in the pandemic and post-pandemic era. Retrieved December 25, 2022, from https://fiskal.kemenkeu.go.id/aifc2021/seminar-files/view-berkas?id=16&nama=Docs_20210826_presentation_1.pdf

Khairiyansyah, K., & Vebtasvili, V. (2018). Relationship between intellectual capital with profitability and productivity in Indonesian banking industry. Jurnal Keuangan dan Perbankan, 22(1), 127–136.

Kor, Y. Y., & Mahoney, J. T. (2004). Edith Penrose's (1959) contributions to the resource‐based view of strategic management. Journal of Management Studies, 41(1), 183–191.

Koxnenic B, Tomic R, Pokrajei D. 2011. Modal Intelektual sebagai Pendorong Kinerja Perusahaan yang Berharga: Penelitian Empiris pada Sektor Perbankan di Serbia. Jurnal Seni & Sains Internasional. 4(9):283–298.

Kurniasari, I. (2015). Pengaruh intellectual capital dan profitabilitas terhadap nilai perusahaan pada perusahaan LQ45 yang terdaftar di Bursa Efek Indonesia periode 2011-2013. Jurnal Audit dan Akuntansi, 4(1), 23–40.

Latumaerissa, J. (2011). Bank dan lembaga keuangan lain. Salemba Empat.

Mahpudin, E., & Suparno. (2016). Faktor-faktor yang mempengaruhi nilai perusahaan (Studi empiris pada perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia). Jurnal Riset Keuangan dan Akuntansi, 2(2), 56–75.

Malik, M. A., & Anwar, S. (2021). Determinan profitabilitas perbankan syariah di Indonesia: Peran moderasi non-performing financing. Journal of Accounting and Digital Finance, 1(1), 49–58.

Maulida, S., & Rusydiana, A. S. (2022). What is Islamic Management? A Previous Studies. Management and Sustainability, 1(1).

Mawardi, W. (2005). Analisis faktor-faktor yang mempengaruhi kinerja keuangan bank umum di Indonesia (Studi kasus pada bank umum dengan total aset kurang dari 1 triliun). Jurnal Bisnis dan Strategi, 14(1), 83–93.

Myers, R. H., Montgomery, D. C., Vining, G. G., & Robinson, T. J. (2012). Generalized linear models: With applications in engineering and the sciences (2nd ed.). John Wiley & Sons, Inc.

Otoritas Jasa Keuangan. (2022). Perbankan syariah dan kelembagaannya. Retrieved January 9, 2023, from https://www.ojk.go.id

Pardede, D. N., & Pangestuti, I. R. D. (2016). Analisis pengaruh CAR, dana pihak ketiga (DPK), NIM, dan LDR terhadap profitabilitas perbankan dengan LDR sebagai variabel intervening. Diponegoro Journal of Management, 5(3), 1–13.

Partanen, T. (1998). Intellectual capital accounting: Some steps toward a conceptual framework for the valuation of intangible assets (Master's thesis).

Pulic, A. (1998). Measuring the performance of intellectual potential in the knowledge economy. In 2nd McMaster World Congress on Measuring and Managing Intellectual Capital by the Austrian Team for Intellectual Potential (pp. 1–20).

Rafinda, A., Pramuka, B. A., & Kusuma, P. D. I. (2011). Tren dan variasi intellectual capital disclosure pada perusahaan-perusahaan perbankan di Eropa. In Simposium Nasional Akuntansi XIV. Universitas Jenderal Soedirman.

Rahmawati, I. D., Ubaidillah, H., & Rahayu, D. (2020). Pengaruh intellectual capital dan Islamicity performance index terhadap profitabilitas perbankan syariah di Indonesia. Equilibrium: Jurnal Ekonomi-Manajemen-Akuntansi, 16(2), 62–71.

Rochmatullah, M. R. (2018). Determinan profitabilitas bank umum syariah di Indonesia: Perspektif rasio keuangan. Jurnal Bisnis & Manajemen, 18(2), 87–102.

Sari, L. R., & Sugiyono. (2016). Pengaruh NPM, ROE, EPS terhadap return saham pada perusahaan farmasi di BEI. Jurnal Ilmu dan Riset Manajemen (JIRM), 5(12), 35–57.

Sartono, A. R. (2010). Manajemen keuangan: Teori dan aplikasi (4th ed.). BPFE Yogyakarta.

Sawarjuwono, T., & Kadir, A. P. (2003). Intellectual capital: Perlakuan, pengukuran dan pelaporan (Sebuah library research). Jurnal Akuntansi dan Keuangan, 5(1), 35–57.

Soraya, L., & Syafruddin, M. (2013). Pengaruh nilai aset tidak berwujud dan penelitian dan pengembangan terhadap nilai pasar perusahaan. Diponegoro Journal of Accounting, 2(2), 1–9.

Stewart, T. (1997). Intellectual capital: The new wealth of organizations. Nicholas Brealey.

Sugiyono. (2008). Metode penelitian kuantitatif dan kualitatif. Alfabeta.

Supriani, I., Fianto, B. A., Fauziah, N. N., & Maulayati, R. R. (2021). Revisiting the contribution of Islamic banks’ financing to economic growth: The Indonesian experience. Shirkah: Journal of Economics and Business, 6(1), 18–37.

Sveiby, K. E. (1997). The intangible assets monitor. Journal of Human Resource Costing & Accounting.

Ulum, I., Ghozali, I., & Chariri, A. (2008). Intellectual capital dan kinerja keuangan perusahaan: Suatu analisis dengan pendekatan partial least squares. In Simposium Nasional Akuntansi XI (pp. 23–24).

Wahyudi, R. (2020). Analisis pengaruh CAR, NPF, FDR, BOPO, dan inflasi terhadap profitabilitas perbankan syariah di Indonesia: Studi masa pandemi COVID-19. At-Taqaddum, 12(1), 13–24.

Werdaningtyas, H. (2002). Faktor yang mempengaruhi profitabilitas bank take over pramerger di Indonesia. Jurnal Manajemen Indonesia, 1(2), 24–39.

Yusriani, Y. (2018). Pengaruh CAR, NPL, BOPO, dan LDR terhadap profitabilitas pada bank umum milik negara persero di Bursa Efek Indonesia. Jurnal Riset, 4(2), 1–17