Reflexivity of Intellectual Capital to Assets in Jakarta Islamic Index with Hahslm Approach

Abstract This study aims to examine the reflexivity of value added of intellectual capital that consist of three components from company sources (human capital, capital employed, structural capital) towards company’s financial performance which is listed in Jakarta Islamic Index with Hahslm approach. These values added of intellectual capital has close relation with the well being function of the company. The population in this study has 30 companies that were listed in the Jakarta Islamic Index within the period 2013–2016. The sampling technique is used as subjective sampling based on 17 companies. This study uses secondary data that is obtained from the Indonesia Stock Exchange. Theory H shows the test with religiosity perspective [3]. The hypothesis of this study has been tested by using partial least square (PLS). The method used is VAIC from public information which is made into separate variables that are connected to the company’s financial performance (ROA). The results showed that VAHU has no significant influence on the company’s financial performance and so did STVA, while VACA has a significant effect on company’s financial performance. From the result, the study showed that company should have well-being function to have a significant influence on the company’s financial performance.     Keywords: human, capital, structure, ROA