The Influence of Intellectual Capital and Good Corporate Governance on Sustainable Growth through Financial Performance

Abstract

This study aims to analyze the influence of intellectual capital and good corporate governance on sustainable growth through financial performance. This type of research is quantitative, and the data used is secondary data. The sample used in this study consists of consumer non-cyclical sector companies listed on the Indonesia Stock Exchange (IDX) from 2020 to 2024, selected using purposive sampling, resulting in 44 company samples. The data analysis techniques used include linear regression analysis and path analysis using the Sobel test. The components of intellectual capital used in this study are human capital, structural capital, and relational capital, while good corporate governance is projected using the size of the board of directors and independent commissioners. Research results show that components of intellectual capital and good corporate governance have a positive effect on sustainable growth. In addition, financial performance is able to mediate the influence of human capital, structural capital, relational capital, and board size on sustainable growth. However, financial performance is not able to mediate the influence of independent commissioners on sustainable growth. The findings of this study suggest that well-managed intellectual capital and good corporate governance can improve financial performance and then support the company in achieving sustainable growth