Peran Profitabilitas dalam Memoderasi Pengaruh Transformasi Digital dan Modal Intelektual terhadap Nilai Perusahaan pada Sektor Teknologi di Bursa Efek Indonesia
DOI:
https://doi.org/10.56393/aktiva.v6i1.4659Keywords:
Transformasi DIgital, Modal Intelektual, Nilai Perusahaan, Profitabilitas, TeknologiAbstract
Transformasi digital dan modal intelektual menjadi faktor kunci nilai perusahaan, namun hasil penelitian terdahulu masih inkonsisten, terutama sektor teknologi negara berkembang. Penelitian ini menganalisis pengaruh transformasi digital dan modal intelektual terhadap nilai perusahaan sektor teknologi dengan profitabilitas sebagai moderasi, pada 20 perusahaan terdaftar di BEI periode 2022-2024 (60 observasi), dianalisis dengan Moderated Regression Analysis berbasis Fixed Effect Model. Hasil menunjukkan transformasi digital berpengaruh negatif signifikan (β=-1,344; p=0,003), modal intelektual berpengaruh positif signifikan (β=0,147; p=0,012), profitabilitas tidak signifikan (p=0,746) dan tidak memoderasi kedua hubungan (TD×P: p=0,267; IC×P: p=0,668); model signifikan simultan (F=7,314; p=0,000; Adjusted R²=0,699). Temuan mengonfirmasi Resource-Based View sekaligus digitalization paradox di Indonesia; manajemen perlu memprioritaskan modal intelektual, transformasi digital bertahap, investor disarankan menjadikan kapabilitas intelektual sinyal valuasi utama.
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