Open AccessROLE OF INNOVATION CAPABILITY IN INCREASING SHAREHOLDER VALUE (SALES GROWTH AS INTERVENING VARIABLE)
Author(s) -
Masmira Kurniawati
Publication year - 2014
Publication title -
manajemen dan bisnis/manajemen dan bisnis
Language(s) - English
Resource type - Journals
eISSN - 2477-1783
pISSN - 1412-3789
DOI - 10.24123/jmb.v13i1.238
Subject(s) - shareholder value , stock exchange , shareholder , business , mediation , marketing , value (mathematics) , empirical research , industrial organization , stock market , accounting , corporate governance , finance , computer science , paleontology , philosophy , epistemology , horse , machine learning , biology , political science , law
This study aims to demonstrate that innovation capability as one of companies’ marketing capabilities has an important role in increasing shareholder value through superior market performance, i.e. the sales growth. Recently, there has been increasing number of researches conducted in investigating the link between marketing performance and stock market performance in Indonesia. These are very important especially for companies listed in Indonesia Stock Exchange. In general, this study tries to develop, test, and find empirical support the relationship between innovation capabilities and shareholder value. The data used are secondary data from the financial statements of Unilever Company. Data were analyzed using mediation analysis suggested by Baron and Kenny (1986). The results of this study provide insight about the relationship between innovation capability and shareholder value. Managerial implications and suggestions for future research will then be delivered.