This study aims to determine the relationship
of intellectual capital to financial performance mediated
by corporate social responsibility. This research was
conducted at state-owned companies listed on the
Indonesia Stock Exchange from 2015 to 2019. The
sampling technique was carried out by using purposive
sampling technique. Of the 20 populations, a sample of
15 companies was obtained, so that the total observations
were 75 company observations in 2015-2019. Financial
performance was measured using Tobin's Q ratio, while
intellectual capital was measured using the value added
intellectual coefficient (VAIC). The data collection
technique used is documentation technique. The data
used are secondary data in the form of annual reports
and financial reports. Data were analyzed using linear
regression analysis method. The results showed (1)
intellectual capital has a positive effect on financial
performance (2) CSR partially mediates the relationship
between intellectual capital and financial performance.
For intellectual capital indicators, the HCE result has a
negative effect on financial performance, while SCE and
CEE have a positive effect on financial performance.
Keywords : Intellectual Capital, CSR, Tobin's Q.