Analysis Of The Effect Of Intellectual Capital And Good Corporate Governance On The Financial Performance Of Sharia Commercial Banks (2017-2021 Period)

ABSTRACT


INTRODUCTION
Banking is the dance of the establishment of money that entertains itself with widespread imitation in the spirit of high economics, almost every economic movement, banking utility applications and consequences as the origin of money to help a helping hand accompany economic activities.
The difference between conventiona bank and Islamic banks lies in the distribution of profits that will be handed over to customers.In Islamic business banks, all functional exercises use benefit sharing, and do not involve income as a means of getting paid, especially charging clients for the use of assets and credit because income is usury which is forbidden by Islam.
Riba is unexpected taking, in exchange trading and borrowing and obtaining that is contrary to sharia standards.Islam offers the concept of profit sharing in business activities which is now being developed in Islamic banking.The progress of Islamic banking in achieving its goals requires an estimate of work results which is called execution.The link with implementation is that budget summaries are most of the time used as the rationale for surveying organizational performance.The budget summary shows the monetary position and exhibition signs of the organization.However, not all of the organization's budget report data is correct

METHOD
This exploration uses quantitative research methods.The quantitative checking approach is a methodology that emphasizes testing speculation or theory through assessing research factors in numbers and dissecting information using measurable strategies and appropriate demonstrations.This study aims to find out how the influence of autonomy, especially Intellectual Capital and Good Corporate Governance on the dependent variable specifically on the Financial Performance of Islamic Commercial Banks.
Judging from the degree of position of these factors, this exploration is cooperative causal in nature, namely a special examination that determines the causal relationship or the influence of independent factors on the dependent variable.The variables in this study are Intellectual Capital (X1), Institutional Ownership (X2), Managerial Ownership (X3) and Financial Performance (Y).The data collection technique used in this study is secondary data, namely studying the data contained in the financial reports of Islamic commercial banks and related to this research.The variable used is the dependent variable, namely the financial performance of Islamic Commercial Banks, the independent variables, namely Intellectual Capital, Institutional Ownership and Managerial Ownership obtained from the financial reports of Islamic commercial banks for 2017-2021.
This data uses a multiple linear regression model supported by quantitative analysis using an econometric model to get a clear picture of the relationship between the variables used in this study.The author uses Statistical Product and Service Solutions (SPSS) version 25.

RESULTS AND DISCUSSION
The decision making in this test is if the significance value is less than α (Sig.<α = 0.05) and the tcount value is greater than the t table value (tcount > ttable) then there is a relationship between the independent variable (X) and the dependent variable (Y ) partially.If the significance value is greater than α (Sig.>α = 0.05) and the tcount value is less than the ttable value (tcount < ttable) then there is no relationship between the independen variabl and the dependent variabl partially The Intellectual Capital variable (X1) obtains a significance value of 0.000.This value is smaller than the significance level (α) which is 0.05 (0.000 <0.05).In addition, Intellectual Capital obtains a tcount of 5.319 where this value is greater than the ttable value of 2.030 ((tcount > ttable).So it can be stated that Intellectual Capitalhas a significant effect on the financialperformance of Islam banks.Ho1 is rejected and Ha1 is accepted.
Institutional Ownership Variable (X2) obtains significance value of 0.746.This value is greater than the significance level (α) which is 0.05 (0.746 > 0.05).In addition, Institutional Ownership obtains a tcount of 0.326 where this value is smaller than the ttable value of 2.030 ((tcount<ttable).
Institutional Ownership (X2) has no significan effec on the financia performanc of Islami banks.Ho2 is accepted and Ha2 is rejected.The F statistic test (simultaneous test) is a test used to see whether all independent variables have an effect simultaneously on the dependent variable.The decision making in this test is if the significance value is less than α (Sig.<α= 0.05) and the Fcount value is greater than the Ftable value (Fcount > Ftable) then there is a relationship between the independent variable (X) and the dependent variable (Y ) simultaneously.If the significance value is greater than α (Sig.>α = 0.05) and the Fcount value is smaller than the Ftable value (Fcount <Ftable) then there is no relationship between the independent variable (X) and the dependent variable (Y) simultaneously.
Table 2 shows that the Intellectual Capital (X1) and Institutional Ownership (X2) variables obtain a significance value of 0.000.This significance value is smaller when compared to the α value, which is 0.000 <0.05.Besides that, the Fcount value was obtained at 14.616.This Fcount value is greater than the Ftable value, which is 14.616 > 3.245.Then the two independent variables Intellectual Capital (X1) and Institutional Ownership (X2), Managerial Ownership (X3) affect the financial performance of Islamic Commercial Banks simultaneously so that Ho4 is rejected and Ha4 is accepted.

The Effect of Intellectual Capital on the Financial Performance of Islamic Commercial Banks
Based on the results of the study, it was significant that the iB-VAIC 0.000 <0.05 and the tcount value was 5.319 > ttable 2.030.This shows that Intellectual Capital influences the financial performance of Islamic commercial banks.
This could be due to companies, especially Islamic banking, which are services that operate on excellent service capabilities and the use of human capital.Islamic banking in Indonesia has succeeded in "utilizing" and maximizing the skills, knowledge and mindset of its employees to create value for the company.From the shareholder side, this condition is clearly beneficial because it shows management's ability to manage the organization for the benefit of shareholders (owners).

The Effect of Institutional Ownership on the Financial Performance of Islamic Commercial Banks
Institutional ownership has no significan effet on the financial performane of Islam banks.This is indicated by a tcount of 0.326 where this value is smaller than the ttable value of 2.030 ((tcount <ttable).So it can be stated that Institutional Ownership (X2) has no significant effect on the financial performance of Islamic banks.Ho2 is accepted and Ha2 is rejected.
It is suspected that institutional ownership only maximizes personal benefits without regard for responsibility to other stakeholders.In addition, this is also suspected because other institutions that have shares in banking are still small, so that there is no optimal supervision of social responsibility disclosure.
In applying the principles of good corporate governance, banks must disclose transparently and accurately so that they can help stakeholders, investors and interested parties in a company to evaluate/control the results of decisions taken to improve financial performance.Based on agency theory, good corporate governance is used to monitor company activities in order to minimize conflicts of interest between principals and agents.And GCG has been able to prove management's success in managing the company to be accountable to principals and agents.

The Influence of Managerial Ownership on the Financial Performance of Islamic Commercial Banks
Managerial ownership has no significan effet at financial performance.This may be becase statistically the average number of managerial shareholdings in Islamic banking in Indonesia is relatively small The Influence of Intellectual Capital, Institutional Ownership and Managerial Ownership on the Financial Performance of Islamic Commercial Banks Based on the results of simultaneous research, a significance value of 0.000 was obtained.This significance value is smaller when compared to the α value, which is 0.000 <0.05.Besides that, the Fcount value was obtained at 14.616.This Fcount value is greater than the Ftable value, which is 14.616 > 3.245.Then the three independent variables Intellectual Capital (X1), Institutional Ownership (X2) and Managerial Ownership (X3) affect the financial performance of Islamic Commercial Banks simultaneously so that Ho4 is rejected and Ha4 is accepted.This is because the financial performance still uses a lot of fixed assets in its operations, the better the company is in managing the intellectual capital component, the more impact it will have on the company.Companies can generate profits on all assets owned and can maximize the performance of intellectual capital, so that the company is also increasing.In this case the company will process the assets owned effectively and efficiently.
Good company management will indirectly improve the company's financial performance.Good corporate governance is used to monitor company activities in order to minimize conflicts of interest between principals and agents.And good corporate governance has been able to prove the success of management in managing the company to be accountable to principals and agents

CONCLUSION
1. Partially Intellectual Capital has a significant positive effect on the Financial Performance of Islamic Commercial Banks in 2017-2021..This could be due to companies, especially Islamic banking, which are services that operate on excellent service capabilities and the use of human capital.Islamic banking in Indonesia has succeeded in "utilizing" and maximizing the skills, knowledge and mindset of its employees to create value for the company.From the shareholder side, this condition is clearly beneficial because it shows management's ability to manage the organization for the benefit of shareholders (owners).2. Partially, Institutional Ownership does not affect the Financial Performance of Islamic Commercial Banks in 2017-2021.This is in line with previous theories, theoretically the application of good corporate governance can add value to the company which has a significant positive effect on company performance.It is suspected that institutional ownership only maximizes personal benefits without regard for responsibility to other stakeholders.In addition, this is also suspected because other institutions that have shares in banking are still small, so that there is no optimal supervision of social responsibility disclosure.3. Managerial Ownership has no significant effect on the financial performance of Islamic commercial banks because statistically the average number of managerial shareholdings in Islamic banking in Indonesia is relatively small.4. Simultaneously Intellectual Capital and Institutional Ownership, Managerial Ownership have a significant effect on the Financial Performance of Islamic Commercial Banks in 2017-2021.This is evidenced by the significance value of 0.000 <0.05 and the Fcount value of 14.616 > Ftable 3.245.This is because the financial performance still uses a lot of fixed assets in its operations, the better the company is in managing the intellectual capital component, the more impact it will have on the company.And good corporate governance has been able to prove the success of management in managing the company to be accountable to principals and agents.

Tabel 1. T Test Result Coefficients a
a. Dependent Variable: Y_Kinerja_KeuanganIn table 1. it can be seen the results of the t statistical test of each independentvariable.It can be concluded: