<![CDATA[This paper investigates how intellectual capital impacts firm value, with managerial ownership as a moderating factor. The empirical data comprises companies listed on the Indonesia Stock Exchange (IDX) over the 2020–2024 period, marked by post-pandemic economic recovery and escalating geopolitical conflicts between Russia and Ukraine. Using a purposive sampling technique, 108 firms yielding 540 observations were chosen from an initial population of 951 companies. The examination was conducted with multiple linear regression implemented via EViews 13. The findings show that intellectual capital significantly influences firm value. However managerial ownership fails to moderate the impact of intellectual capital on firm value significantly. Theoretically, this study adds to the Resource-Based View and Agency Theory. It shows that intellectual capital directly increases firm value, even when managers hold very few shares in emerging markets. Practically, these findings highlight the need for management to enhance intellectual capital through Knowledge Management practices and urge companies to improve transparency by disclosing intangible assets using integrated reporting frameworks.]]>
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