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All Journal EkBis: Jurnal Ekonomi dan Bisnis
Andi Rahmat Kaswar
Universitas Airlangga
Economics, Econometrics & Finance

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The Relationship between Innovation Capital, Firm Value, and Firm Risk Arya Aji Aditya; Andi Rahmat Kaswar
EkBis: Jurnal Ekonomi dan Bisnis Vol. 6 No. 1 (2022): EkBis: Jurnal Ekonomi dan Bisnis
Publisher : Fakultas Ekonomi dan Bisnis Islam, UIN Sunan Kalijaga Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14421/EkBis.2022.6.1.1558

Abstract

The purpose of this study is to examine two relationships: (1) innovation capital and firm value; and (2) innovation capital and firm risk. The population of this study was all companies listed on the Indonesia Stock Exchange from 2016-2020, and the required research sample was drawn using a purposive sampling technique. Data analysis technique used multiple linear regression. The result revealed that innovation capital had a positive and statistically significant effect on firm value, but innovation capital had a negative and insignificant relationship on firm risk. Based on the analysis, it can be concluded that innovation capital has a potential factor to increase company's value, only if companies have a competitive advantage by disclosing the R&D costs and investments in their financial statements. Because of each company is unique, innovation capital is not always related to a systematic risk measurement.
Co-Authors Arya Aji Aditya