| This empirical study purposes to determine the effect of independent variables on dependent variable. The independent variables used in this study were intellectual capital and intellectual capital disclosure. The dependent variable being tested was firm value. The test was performed using multiple linear regressions on publicly traded company listed in Indonesia Stock Exchange (BEI) and included in LQ-45 index for the period of 2012 to 2014. 64 samples that have met all the criterias or established limit were retreived to support the smoothness of the study. Collected and processed data were the data from financial statements and annual reports obtained through www.idx.co.id. The result of this study showed a significant positive correlation between intellectual capital and firm value. Market gave higher value to companies that had a high intellectual capital. Meanwhile, intellectual capital disclosure showed a significant negative correlation on the company's value in the LQ-45 index. The higher the intellectual capital disclosure by the company, the lower the LQ-45 firm value. |