Analisis Peran Social Capital dan Intellectual Capital terhadap Firm Performance pada Perusahaan Manufaktur di Indonesia

Saparila Worokinasih (University of Brawijaya)
Luthfia Dyah Mahadewi (University of Brawijaya)
Reyka Happy Sugiastuti (University of Brawijaya)
Nur Imamah (University of Brawijaya)

LANCAH Jurnal Inovasi dan Tren
Vol. 4 No. 2 (2026): NOVEMBER

Businesses that prioritize long-term sustainability see their most important productive assets for gaining a competitive edge as distinctive, one-of-a-kind intangible assets, particularly intellectual and social capital. This research aims to investigate the impact of these intangible assets on enhancing business performance. The research cohort comprises manufacturing firms that were listed on the Indonesia Stock Exchange (IDX) from 2016 to 2020. Measurement and structural models were tested in order to assess the research hypotheses. The results demonstrate that intellectual capital exerts a direct beneficial influence on company performance; conversely, social capital—the other intangible asset analyzed—was not shown to directly affect performance. It is anticipated that the outcomes will improve corporate governance and boost stakeholder trust in business performance.