Value chain in the relationship of intellectual capital and firm’s performance

Figures & data

Figure 1. SOEs Profit Contribution to Non-Tax State Revenue (NTSR).

Figure 2. Research Model.

Table 1. Demographic Profile

Demographic profile		Frequency (N = 207)	Percent (%)
Gender	Male	166	80.2
	Female	41	19.8
Age	30–40 years	67	32.4
	41–50 years	89	43.0
	>50 years	51	24.6
Education Level	Undergraduate	31	15.0
	Master	165	79.7
	Doctoral	11	5.3
Occupation	Director	16	7.7
	General Manager	156	75.4
	Vice President	35	16.9

Table 2. Construct indicators and measurement model of IC

No	Variable/Dimensions/Indicator	Loading Factor (λ)	IR (λ^2)	AVE	CR	CA	Conclusion
Second Order
Variable Intellectual Capital				0.720	0.927	0.908	Valid and reliable
1	Human Capital	0.939	0.882				Valid and Reliable
2	Structural Capital	0.923	0.854				Valid and Reliable
3	Relational Capital	0.698	0.484				Valid and Reliable
First Order
Dimensions Human Capital				0.784	0.916	0.862	Valid and reliable
1	HC1 <- HC	0.845	0.714				Valid and Reliable
2	HC2 <- HC	0.904	0.817				Valid and Reliable
3	HC3 <- HC	0.905	0.819				Valid and Reliable
Dimensions Structural Capital				0.820	0.932	0.890	Valid and reliable
4	SC1 <- SC	0.932	0.878				Valid and Reliable
5	SC2 <- SC	0.934	0.872				Valid and Reliable
6	SC3 <- SC	0.848	0.711				Valid and Reliable
Dimensions Relational Capital				0.796	0.886	0.745	Valid and reliable
7	RC1 <- RC	0.873	0.762				Valid and Reliable
8	RC1 <- RC	0.910	0.830				Valid and Reliable

Table 3. Construct indicators and measurement model of Value Chain

No	Variable/Dimensions/Indicator	Loading Factor (λ)	IR (λ^2)	AVE	CR	CA	Conclusion
Second Order
Variable Value Chain				0.856	0.927	0.910	Valid and Reliable
1	Primary Act	0.950	0.903				Valid and Reliable
2	Supporting Act	0.943	0.889				Valid and reliable
First Order
Dimensions Primary Activities				0.703	0.883	0.833	Valid and reliable
1	PA1 <- PA	0.823	0.677				Valid and reliable
2	PA2 <- PA	0.687	0.467				Valid and reliable
3	PA3 <- PA	0.874	0.764				Valid and reliable
4	PA4 <- PA	0.773	0.598				Valid and reliable
5	PA5 <- PA	0.710	0.504				Valid and reliable
Dimension Supporting Activities				0.720	0.911	0.868	Valid and reliable
6	SA1 <- SA	0.741	0.549				Valid and reliable
7	SA2 <- SA	0.885	0.783				Valid and reliable
8	SA3 <- SA	0.854	0.729				Valid and reliable
9	SA4 <- SA	0.906	0.821				Valid and reliable

Table 4. Construct indicators and measurement model of Firm Performance

No	Variable/Dimensions/Indicator	Loading Factor (λ)	IR (λ^2)	AVE	CR	CA	Conclusion
Second Order
Variable Firm Performance				0.531	0.900	0.873	Valid and reliable
1	Financial Perception	0.759	0.576				Valid and reliable
2	Customer Perception	0.818	0.669				Valid and reliable
3	Internal Business Process Perception	0.771	0.594				Valid and reliable
4	Learning & Growth Perception	0.804	0.646
First Order
Dimension Financial Perspective				0.930	0.963	0.924	Valid and reliable
1	FP1 <- FP	0.964	0.929				Valid and reliable
2	FP2 <- FP	0.964	0.929				Valid and reliable
Dimension Customer Perspective				0.851	0.920	0.825	Valid and reliable
3	SC1 <- SC	0.920	0.846				Valid and reliable
4	SC2 <- SC	0.925	0.856				Valid and reliable
Dimension Internal Business Process				0.744	0.853	0.758	Valid and reliable
5	IBP1 <- IBP	0.843	0.599				Valid and reliable
6	IBP2 <- IBP	0.882	0.778				Valid and reliable
Dimension Learning and Growth				0.894	0.944	0.882	Valid and reliable
7	LGP1 <- LGP	0.947	0.897				Valid and reliable
8	LGP2 <- LGP	0.944	0.891				Valid and reliable

Table 5. Discriminant Variable – Fornell Larcker

Factors	Intellectual Capital	Value Chain	Firm Performance
Intellectual Capital	0.786
Value Chain	0.414	0.766
Firm Performance	0.644	0.726	0.729

Source: Research result (2021)

Figure 3. Measurement Model.

Table 6. Structural model results

Constructs	Adj. R^2	f^2	Q^2	VIF	SRMS	NFI
Intellectual Capital	-	0.206
Value Chain	0.159	0.115	0.455		0.115	0.562
Firm Performance	0.520	-	0.711		0.115	0.562

Table 7. Direct Effect Analysis

Hypotheses	Original Sample (O)	Sample Mean (M)	Standard Deviation (STDEV)	T Statistic	P Values
IC → FP	0.300	0.300	0.110	2.742	0.006
IC → VC	0.414	0.408	0.128	3.232	0.001
VC → FP	0.726	0.723	0.070	10.412	0.000

Source: Research result (2021)

Table 8. Indirect Effect Analysis

Hypotheses	Original Sample (O)	Sample Mean (M)	Standard Deviation (STDEV)	T Statistic	P Values
IC → VC → FP	0.300	0.300	0.128	2.742	0.001

Source: Research result (2021)