Journal of Economics and Management
Vol. 4 No. 1 (2026): Journal of Economics and Management, March 2026

The Influence of Intellectual Capital, Growth Opportunity, and Profitability on Firm Value: Evidence from Telecommunications Sub-Sector Companies Listed on the Indonesia Stock Exchange (IDX) During 2020–2024

Syaira Aprilia (Accounting Study Program, School of Economics and Business, Telkom University)
Leny Suzan (Accounting Study Program, School of Economics and Business, Telkom University)



Article Info

Publish Date
30 Mar 2026

Abstract

This study examines the influence of intellectual capital, growth opportunity, and profitability on firm value among telecommunications sub-sector companies listed on the Indonesia Stock Exchange over the 2020–2024 period. The research adopts a quantitative approach with a descriptive orientation, drawing on secondary data sourced from audited financial statements. Sample selection was carried out through purposive sampling, and hypotheses were tested using panel data regression analysis processed via EViews software. Firm value was operationalized using Tobin's Q, intellectual capital was measured through the Value Added Intellectual Coefficient (VAIC™), growth opportunity was proxied by asset growth, and profitability was assessed using Return on Assets (ROA). Partially,   no significant effect, while growth opportunity has a significant negative effect, suggesting investors are concerned about investment risk and financing burdens associated with growth. Companies are encouraged to improve resource management efficiency and profitability to strengthen investor confidence and firm value.

Copyrights © 2026






Journal Info

Abbrev

ecoma

Publisher

Subject

Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

Description

Journal of Economics and Management (ECOMA) is a peer-reviewed, open access, and online journal about research, reports, book reviews, and commentaries on all aspects of Economics and Management which is published by Lembaga Publikasi Ilmiah Nusantara or PUBLINE Institute. ECOMA provides open access ...