Authors : Aloysius Harry Mukti and Istianingsih
Abstract: Intellectual capital disclosure is an important topic to study because it can reduce the information asymmetry between company and stakeholders. This study aims to examine the determinants of intellectual capital disclosure of public companies in Indonesia. The examined factors were family ownership, state ownership and institutional ownership. A total of 1,400 annual reports of all public company in Indonesia Stock Exchange from 2004-2008 were examined. Hypothesis testing was performed using multiple linear regression analysis. The results showed that family ownership did not affect intellectual capital disclosure. Meanwhile, institutional ownership in the form of banks and financial institutions had positive effect on the company’s intellectual capital disclosure. Higher public demands on companies with broad ownership of SOEs led to more intellectual capital disclosure. This study provides information on the determinants of intellectual capital disclosure based on the ownership structure of companies in Indonesia, so, it is expected that management can implement disclosure policies required by investors in order to reduce information asymmetry.
Aloysius Harry Mukti and Istianingsih , 2018. The Impact of Ownership Structure on Intellectual Capital Disclosure. International Business Management, 12: 337-345.