Intellectual Capital Performance of Indonesian Banking Sector: A Modified VAIC (M-VAIC) Perspective
Abstract
The paper seeks to estimate and analize the Modified VAIC (M-VAIC) for measuring the value-based performance of the Indonesian banking sector for year of 2009-2012. M-VAIC is a comprehensive model to measure Intellectual Capital Performance (ICP) based on Value Added Intellectual Coefficient (VAIC™). The findings of this study indicate that the value of M–VAIC of Indonesian banking sector has a rather long range, which is between -21.41 until 5.20. Based on M-VAIC scores, performance of IC is classified into four, namely Top Performers, Good Performers, Performers Common, and Bad Performers. The results show that the ranking of three of the four state banks are on the Top Performers category. M-VAIC can be used to measure the ICP all of industries, not only banks. This is also reinforced by the results of the regression that indicate that the value added (VA) is a function of capital employed and the IC.Submission of an article implies that the work described has not been published previously (except in the form of an abstract or as part of a published lecture or academic thesis), that it is not under consideration for publication elsewhere, that its publication is approved by all authors and tacitly or explicitly by the responsible authorities where the work was carried out, and that, if accepted, will not be published elsewhere in the same form, in English or in any other language, without the written consent of the Publisher. The Editors reserve the right to edit or otherwise alter all contributions, but authors will receive proofs for approval before publication.
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