Competitive Advantage as a Mediating Variable to the Relationship Between Intellectual Capital and Financial Performance

摘要

The property and real estate sector is an industrial sector in the Indonesia Stock Exchange which is experiencing rapid growth and pervasive changing. Doing business in this sector must be supported by excellent intellectual capital and competitive strategic to gain sustainable welfare. This study done to explore the direct effect of intellectual capital to financial achievement or the indirect effect through competitive advantage as a strategy tool to gain profit. The population is 48 companies in property and real estate sector, and 21 companies selected as samples by using purposive sampling method. Hypothesis testing did by using Partial Least Square and all requirement of validity and reliability are fulfilled. As predicted based of the nature and characteristic of this business, intellectual capital has a positively significant effect to financial success both in direct effect. The result of indirect effect through competitive advantage show the positive direction but not significant.