The modeling firm's value based on financial ratios, intellectual capital and dividend policy

Abstract

The firm's value becomes fundamental and important when it goes public which is a basis for investment decision.Intellectual capital as a spectrum of artificial intelligence capabilities helps us reveal patterns of big data in information-based historical data to do jobs faster and better with the help of technology.This research purposes to verify the model firm's value based on financial ratios, intellectual capital, and dividend policy.The populations in this research are on the automotive subsector companies and components that are listed in Indonesia Stock Exchange (IDX) over the period 2010-2019 and eleven companies met the requirements for sampling.Methods of data analysis is based on path analysis and Sobel test which comprise the classical assumptions test, linearity test, the total coefficient of determination and estimation, and hypothesis test through direct and indirect effect.The results of this research indicate that the firm's modeling value based on financial ratios, intellectual capital and dividend policy with outcome findings of financial ratio's viz.liquidity, solvency and profitability ratio did not significantly influence the dividend policy, while dividend policy had a significant influence on firm's value.Furthermore, financial ratios mediated by dividend policy were only influenced by solvency and profitability ratios while the liquidity ratios and intellectual capital factors were not significant effects.

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