Open AccessPERANAN STRATEGIS MODAL INTELEKTUAL DALAM PERSAINGAN BISNIS DI ERA JASA
Author(s) -
Li Wang
Publication year - 2016
Publication title -
ekuitas (jurnal ekonomi dan keuangan)
Language(s) - English
Resource type - Journals
eISSN - 2548-5024
pISSN - 1411-0393
DOI - 10.24034/j25485024.y2001.v5.i3.1934
Subject(s) - business , assets under management , book value , earnings , shareholder , working capital , fixed asset , value (mathematics) , stock exchange , current asset , stock (firearms) , accounting , finance , economics , corporate governance , computer science , machine learning , production (economics) , macroeconomics , mechanical engineering , engineering
The traditional way of measuring an organization wealth is to focus on the organization’s tangible assets which consists of three major categories, namely : current assets, fixed assets, and investment assets. Although intangible assets are recognized, but in practice, this so-called “hidden assets” have never been taken seriously to be managed well by most organizations. It is only recently that investors have begun to give more attention to the problem of measuring and managing intangible assets. The main reason for the rising interest on this kind of assets is related to the observed gap between the market values and the book values of most public listed companies. Based on data taken from the New York Stock Exchange, over a period of 20 years, said gap has been widening. As reported in the Journal of Knowledge Management (November 1997) the top five valued organizations have a value that, on the average, was 13 times the book value. For instance, Microsoft and Coca Cola were valued, respectively, 21 and 26 times over their book values. This shows and quantifies the hidden potentials of intangible capabilities within organization, which are usually not included in the traditional accounted book value. Furthermore, it also indicates an appreciation of the future earnings potential of the enterprise. This growing value gap, implies, that there is a trend that has been escalating during the 1977-1997 period. From a management as well as a shareholder perspective the key focus should consequently be on these components of hidden or intangible capabilities for future earnings potential,. Since 1995 this hidden asset is called intellectual asset (capita) which consists of two major categories, namely, human capital and structural capital. The latter can further be divided into an internal (oriented) structural capital and an external (market orientation) structural capital. As the world economy evolves into a service economy, hence, intellectual capital will be regarded as one of the major driving forces of value creation of enterprises..