<![CDATA[Purpose: This study aims to examine the effect of Intellectual Capital and Sustainability Report disclosure on firm performance in financial sector companies listed on the Indonesia Stock Exchange. Research methodology: This study adopts a quantitative research design using secondary data obtained from financial sector companies listed on the Indonesia Stock Exchange during the 2021–2024 period. The sample consists of 92 companies, yielding 368 firm-year observations selected through purposive sampling. Intellectual Capital is measured using the Value-Added Intellectual Coefficient (VAIC™), while Sustainability Report disclosure is measured using the Sustainability Report Disclosure Index (SRDI) based on the Global Reporting Initiative (GRI) Standards. Firm performance is measured using Return on Assets (ROA) and Tobin’s Q. Data analysis is conducted using panel data regression with a fixed effects model. Results: The findings show that Intellectual Capital positively and significantly affects ROA, indicating improved profitability, but negatively affects Tobin’s Q, suggesting the market does not fully value intellectual capital. Sustainability Report disclosure has no significant effect on ROA but negatively affects Tobin’s Q. Conclusions: Overall, Intellectual Capital contributes to accounting-based performance but is not yet positively reflected in market valuation, while Sustainability Report disclosure has not generated immediate financial or market benefits in the financial sector. Limitations: This study is limited to financial sector companies during the post-pandemic period and relies on firm-specific effects captured by the fixed effects model. Contributions: This study extends the Resource-Based View and Stakeholder Theory by showing how Intellectual Capital and Sustainability Report disclosure affect both accounting- and market-based performance in Indonesia’s financial sector.]]>
Copyrights © 2026
