MODAL INTELEKTUAL TERHADAP EFISIENSI DAN KINERJA PASAR PERBANKAN DI INDONESIA

Intellectual capital is aknowledgebased capital that aims to improve competitive advantage and firm performance. This research aimed to examine the influence of intellectual capital on the efficiency and performance of the banking market in Indonesia in 2009- 2011. The measurement of efficiency that used in this research are BOPO and PBV ratio as a measure of market performance. This research used ath analysis to determine the relationship between the intellectual capital, level of efficiency, and banking performance in Indonesia. The result showed intellectual capital has negative effecton BOPO. Other finding showed that intellectual capital has no effect on PBV, while BOPO has negative effect to PBV. The first regression stage results of intellectual capital has negatif effect on BOPO. And the second stage results of intellectual capital has no effect on PBV, whereas BOPO negativelyaffect PBV. The result proved although intellectual capital not affect PBV directly, however indirectly intellectual capital can affect PBV trough BOPO.