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The research attempts to investigate the influence of efficiency of value added by the major components of a firm’s resource base (physical capital, human capital, and structural capital) towards financial profitability (indicated by return on asset and return on equity) and also investors’ capital gain on shares. Value Added Intellectual Coefficient™ (VAIC™) introduced is used as proxy of firm’s effectiveness in managing its intellectual capital. Data were drawn from 22 banking firms and 10 samples of publicly traded banking and insurance firms respectively during 2005-2007. The linear multiple regression analysis suggests that the association between the efficiency of value added by a firm’s major resource bases and (1) return on asset, (2) return on equity, and (3) capital gain, are generally limited and insignificant. This is mainly due to the unique characteristics of banking companies compared to other sectors. In contrast, for insurance sector confidently shows there is a significant association between efficiency of VAIC™ toward financial profitability and investors’ capital gain. This show that the power of intellectual capital is valuable information for related parties in decision making and policy creation process especially in considering the growing significant role of banking and insurance companies in developing Indonesia economies.

INTELLECTUAL CAPITAL AND ITS IMPACT ON FINANCIAL PROFITABILITY AND INVESTORS’ CAPITAL GAIN ON SHARES