Email this article Impact of Human Resource Investment on Firm Value
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This study attempts to investigate the effect of Human Resource (HR) investment that has been done by a firm. Human resource investment became the main focus of this research because HR is one of the key factors of a firm’s success. However, a great HR investment costs a lot of money that not every firm is willing to take risks. The objective of this study is to find out whether HR investment, in the form of training and education, create value for the firm. Tobin’s Q is used as a firm value proxy. This study uses multiple linear regression method for hypothesis testing and use probability sampling method with simple random sampling technique on non-finance companies listed in Indonesian Stock Exchange between 2013-2017. Final sample of this study is 540 firm-years. The result of this study does not support the initial proposition: HR investment does not have significant impact in creating values for companies.
Penelitian ini berusaha untuk menyelidiki pengaruh investasi Sumber Daya Manusia (SDM) yang telah dilakukan oleh suatu perusahaan. Investasi SDM menjadi fokus utama penelitian ini karena SDM adalah salah satu faktor kunci kesuksesan perusahaan. Namun, investasi SDM yang baik membutuhkan dana yang besar sehingga tidak setiap perusahaan mau mengambil risiko untuk melakukannya. Tujuan dari penelitian ini adalah untuk mengetahui apakah investasi SDM, dalam bentuk pelatihan dan pendidikan, menciptakan nilai bagi perusahaan. Tobin’s Q digunakan sebagai proksi nilai perusahaan. Penelitian ini menggunakan metode regresi linier berganda untuk pengujian hipotesis dan menggunakan metode probability sampling dengan teknik simple random sampling pada perusahaan non-keuangan yang terdaftar di Bursa Efek Indonesia antara 2013-2017. Sampel akhir dari penelitian ini adalah 540 perusahaan-tahun. Hasil penelitian ini tidak mendukung hipotesis awal: investasi SDM tidak memiliki pengaruh signifikan dalam menciptakan nilai bagi perusahaan.
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DOI: http://dx.doi.org/10.20961/jab.v20i1.501
Jurnal Akuntansi dan Bisnis (JAB)
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