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(1)

J uwi t a , A ng g r a i ni , P e ng a r uh H um a n C api t al Te r ha d a p B us i ne s s Pe r f o r m a nc e . 229

Ju rn al A k u n ta n si d an K e u an g a n In d o n esia D e se m b e r 2 0 0 7 , V ol.4, N o. 2, hal. 2 2 9 -2 5 0

P E N G A R U H

H U M A N C A P I T A L

T E R H A D A P

B U S I N E S S P E R F O R M A N C E

M E L A L U I

C U S T O M E R C A P I T A L

S it i P r it i z a J u w it a , S E

M ahasiswa Fakultas Ekonomi Universitas Bung H atta Padang

p ritiz a _ e s te n @ y a h o o .c o m

F i v i A n g g r a i n i , S E ., M .S i., A K

S ta f Pengajar Fakultas Ekonom i Universitas Bung H atta Padang

f iv i_ a b id in @ y a h o o .c o .id

A b s t r a c t

The purpose o f this research is to investigate the effect o f human capital on business

perform ance with customer capital as the intervening variable. Samples used in

this research are commodity export companies listed in The Industry and Trade

Provincial Office o f West Sumatera. Data used fo r this research was collected

fro m financial managers and personnel managers that completing and returning

the questionnaire. D ata collected by m ail survey and contact person with 70

questionnaire and respon rate 38 questionnaires (54%). Analysis conducted by p a th

analysis technique and software SPSS 12.00. The result shows that human capital

positively but not significantly linked with customer capital; customer capital

positively but not significantly linked with business performance; and human capital

does not related with business perform ance with customer capital as the intervening

variable.

(2)

P E N D A H U L U A N

M a k in k o m p e titif n y a lin g k u n g a n b is n is d e w a s a in i m e n u n tu t p e ru s a h a a n u n tu k m a m p u b e ra d a p ta s i d e n g a n p e ru b a h a n y a n g a d a a g a r te ta p b e rta h a n . U n tu k itu s e tia p p e ru s a h a a n h a ru s m e m ilik i k e u n g g u la n k o m p e titif y a itu m e la lu i k e p e m ilik a n a ta s s u m b e r d a y a y a n g d a p a t m e n c ip ta k a n n ila i b a g i p e ru s a h a a n , s u lit d itiru , b e rs ifa t la n g k a , d a n tid a k m e m ilik i s u b s titu s i (B a rn e y 1991 d a la m A n a ta n 2 0 0 3 ).

K e p e m ilik a n a ta s s u m b e r d a y a y a n g b a ik b is a j u g a d iw u ju d k a n p a d a k e c a k a p a n y a n g d im ilik i p a r a p e m a s a r. P a ra p e m a s a r a ta u

marketer

d itu n tu t u n tu k m e m ilik i p e n g e ta h u a n y a n g m e m a d a i m e n g e n a i ris e t

marketing,

p e rila k u k o n s u m e n ,

advertising

, p ro m o s i p e n ju a la n , d a n m a n a je m e n p e n ju a la n . H a l te rs e b u t m e ru p a k a n p e n g e ta h u a n d a s a r p a d a k o n s e p p e n ju a la n tra d is io n a l. M e to d e y a n g e f e k t i f d a n e fis ie n u n tu k m e m p e ro le h p e n g e ta h u a n d a s a r te rs e b u t a d a la h m e la lu i p e la tih a n y a n g b a i k di b id a n g

marketing

d a n m e n g g a b u n g k a n n y a d e n g a n k re a tiv ita s . K re a tiv ita s s a n g a t d ip e rlu k a n p a d a z a m a n s e k a ra n g s e b a b p e ru s a h a a n m e m e rlu k a n i d e - i d e b a ru y a n g s e g a r u n tu k m e m b u a t te ro b o s a n y a n g b e rb e d a d e n g a n la in n y a (K o tle r 2 0 0 6 ).

S e ja la n d e n g a n p e rk e m b a n g a n p a s a r d a n te k n o lo g i,

knowledge-based

industries

m e n g a la m i k e n a ik a n n ila i k a p ita lis a s i s a h a m y a n g c u k u p tin g g i. H a l in i m e n y e b a b k a n a d a n y a s e lis ih a n ta ra n ila i b u k u d e n g a n n ila i k a p ita lis a s i s a h a m y a n g m e n u n ju k k a n te rja d in y a “

missing value ”

p a d a la p o ra n k e u a n g a n y a n g o le h S te w a r t (1 9 9 7 ) d is e b u t s e b a g a i

intellectual capital.

S te w a rt (1 9 9 7 ) m e n u n ju k k a n p e r b a n d in g a n n ila i b u k u y a n g te rd a p a t di n e ra c a d e n g a n n ila i p a s a r s a h a m p a d a p e r u s a h a a n b e rb a s is p e n g e ta h u a n a d a la h 1:7, s e d a n g k a n p a d a p e ru s a h a a n ja s a 1:1. M e n u r u t S te w a rt (1 9 9 7 ), s e lis ih te rs e b u t m e n c e rm in k a n

intangible asset

y a n g tid a k d ic a t a t d a la m n e ra c a p e ru s a h a a n .

K e tid a k m a m p u a n p e ru s a h a a n m e n c a ta t

intangible asset

te rs e b u t d a la m n e ra c a d ik a r e n a k a n s ta n d a r a k u n ta n s i s a a t in i b e lu m m a m p u m e n a n g k a p d a n m e la p o rk a n in v e s ta s i y a n g d ik e lu a rk a n u n tu k m e m p e ro le h s u m b e r d a y a n o n fis ik . In v e s ta s i s u m b e r d a y a n o n fis ik y a n g d a p a t d ita n g k a p d a n d ila p o rk a n m e n u ru t s ta n d a r a k u n ta n s i s a a t in i b a ru s e b a ta s in v e s ta s i d a la m b e n tu k

intellectual property.

D e n g a n d e m ik ia n , a k u n ta n s i j u g a d iy a k in i b e lu m m a m p u m e la k u k a n p e n g a k u a n d a n p e n g u k u ra n te r h a d a p

intellectual capital,

k a re n a a k u n ta n s i c e n d e ru n g b e rfo k u s p a d a a k tiv a y a n g s ifa tn y a n y a ta

(hard assets)

sa ja . K a la u p u n a d a

intangible asset

y a n g d ia k u i d a n d iu k u r d a la m la p o ra n k e u a n g a n , p a d a u m u m n y a m a s ih d id a s a rk a n p a d a n ila i h is to r is

(historical cost)

b u k a n p o te n s in y a m e n a m b a h n ila i (S te w a rt 19 97 ).

(3)
(4)

b e r h u b u n g a n p o s itif d a n s ig n ifik a n d e n g a n

structural capital. Structural capital

b e r h u b u n g a n p o s itif d a n sig n ifik a n d e n g a n

business performance,

s e d a n g k a n

customer capital

b e rh u b u n g a n p o s itif d a n tid a k s ig n ifik a n d e n g a n

business

perform ance.

A stu ti d a n S a b e n i (2 0 0 5 ) j u g a m e n y im p u lk a n b a h w a d e n g a n

tacit

knowledge-nya, human capital

m a m p u m e n c ip ta k a n n ila i

(value creation)

y a itu

custom er capital

b ag i p e ru s a h a a n .

T id a k s ig n ifik a n n y a h u b u n g a n

customer capital

d e n g a n

business perform ance

p a d a p e n e litia n A stu ti d a n S a b e n i (2 0 0 5 ) b e rb e d a d e n g a n h a sil p e n e litia n B o n tis (1 9 9 8 ). N a m u n d i sisi la in , stu d i A stu ti d a n S a b e n i (2 0 0 5 ) j u g a m e n u n ju k k a n a d a n y a h u b u n g a n a n ta ra

human capital

d a n

customer capital.

D a la m h a l ini p e n u lis te rta rik u n tu k m e la k u k a n p e n g u jia n k e m b a li p e n g a ru h

human capital

te rh a d a p

business

perform ance

m e la lu i

customer capital.

P e n e litia n ini m e n g g u n a k a n s a m p e l p e ru s a h a a n k o m o d ita s e k s p o r y a n g a d a d i S u m a te r a B a ra t. P e n g g u n a a n s a m p e l in i d id a s a rk a n p a d a fe n o m e n a p e rs a in g a n k e ta t y a n g te rja d i p a d a p e rs a in g a n b is n is s a a t ini. S e la in itu, p e rs a in g a n p a s a r b e b a s y a n g a k a n te rja d i m e n u n tu t p e ru s a h a a n b e rs a in g d e n g a n k e m a m p u a n te k n o lo g i tin g g i d a n k e m a m p u a n d a la m m e m b e rik a n

professional sen>;ce

y a n g m e m a d a i d e n g a n a s u m s i p e ru s a h a a n k o m o d ita s e k s p o r te la h m a ju s e la n g k a h d a la m p e rs a in g a n p a s a r in te rn a s io n a l. U n tu k itu, d e n g a n

human capital,

s e p e rti

skill

k a ry a w a n , m o tiv a s i k e r ja , k re a tiv ita s , p e n g a la m a n , k e c e rd a s a n , d a n la in n y a , s e rta

customer capital,

s e p e r ti lo y a lita s p e la n g g a n , k e p u a s a n k o n s u m e n , d a n

brand image,

p e ru s a h a a n d ih a r a p k a n d a p a t m e n in g k a tk a n e fis ie n s i b ia y a , m e la k u k a n in o v a s i y a n g te ru s m e n e r u s , m e n in g k a tk a n k e k u a ta n d a la m p e rs a in g a n , m e n in g k a tk a n p e rtu m b u h a n la b a d a n p e n ju a la n , s e rta m e n in g k a tk a n k in e rja p e ru s a h a a n s e c a ra k e s e lu ru h a n . P e n e r a p a n

human capital

d a n

customer capital

u n tu k m e n in g k a tk a n

business

perform ance

s e b a g a i

intangible asset ju g a

m a s ih m e ru p a k a n isu h a n g a t y a n g

m e n a r ik u n tu k d ite liti.

P e rta n y a a n y a n g d ia ju k a n d a la m p e n e litia n ini a d a la h a p a k a h te r d a p a t p e n g a r u h

hum an capital

te rh a d a p

customer capital,

a p a k a h te rd a p a t p e n g a r u h

customer

capital

te rh a d a p

business performance,

d a n a p a k a h te rd a p a t p e n g a r u h

human capital

te r h a d a p

business performance

m e la lu i

customer capital.

P e n e litia n ini b e rtu ju a n u n t u k m e m b u k tik a n s e c a ra e m p iris te n ta n g p e n g a ru h

human capital

te rh a d a p

custom er capital,

p e n g a ru h

customer capital

te rh a d a p

business performance,

d a n p e n g a r u h

human capital

te rh a d a p

business performance

m e la lu i

customer capital.

D e n g a n d e m ik ia n , p e n e litia n ini d ih a ra p k a n r'a p a t m e m b e rik a n k o n trib u s i p a d a p e n g e m b a n g a n k o n s e p p e n g u k u ra n d a n p e n g a ru h m o d e l

intellectual capital

(5)

J uwi t a , A ng g r a i ni , P e ng a r uh H u m a n C api t al T e r ha d a p B us i n e s s Pe r f o r m a nc e . 23 3

d e n g a n te o ri m e n g e n a i

intellectual capital,

p e m b a h a s a n

intangible asset

s e rta P e n y u s u n a n S ta n d a r A k u n ta n s i K e u a n g a n (P S A K ) s e h u b u n g a n d e n g a n k e b e ra d a a n

intellectual capital.

D i s a m p in g itu j u g a d ih a ra p k a n d a p a t m e m b e rik a n k o n trib u s i p ra k tis b a g i o rg a n is a s i, k h u s u s n y a d a la m h a l p e n g e lo la a n

human capital

d a n

customer capital

u n tu k p e n in g k a ta n k in e rja p e ru s a h a a n .

L A N D A S A N T E O R I D A N P E N G E M B A N G A N H I P O T E S I S

I n t e lle c t u a l C a p it a l

M e n u ru t B o n tis (1 9 9 6 ),

intellectual capital

b e rs ifa t

elusive,

te ta p i s e k a li d ite m u k a n d a n d ie k s p lo ita s i a k a n m e m b e rik a n o rg a n is a s i b a s is s u m b e r b a ru u n tu k b e rk o m p e tis i d a n m e n a n g . B ro o k in g (1 9 9 6 ), m e n g a r tik a n

intellectual capital

s e b a g a i is tila h y a n g d ib e rik a n u n tu k m e n g k o m b in a s ik a n

intangible asset

d a ri p a sa r,

intellectual property,

in fra s tru k tu r d a n p u s a t m a n u s ia y a n g m e n ja d ik a n s u a tu p e ru s a h a a n d a p a t b e rfu n g s i. S e d a n g k a n S te w a rt (1 9 9 7 ), m e n d e fin is ik a n

intellectual

capital

s e b a g a i m a te ri in te le k tu a l (p e n g e ta h u a n , in fo rm a s i,

intellectual property,

p e n g a la m a n ) y a n g d a p a t d ig u n a k a n u n tu k m e n c ip ta k a n k e k a y a a n d a n s u a tu k e k u a ta n a k a l k o le k tif a ta u s e p e ra n g k a t p e n g e ta h u a n y a n g b e rd a y a g u n a . B o n tis (1 9 9 8 ) j u g a m e n d e fin is ik a n

intellectual capital

s e b a g a i p e n g g u n a a n e f e k tif d a ri p e n g e ta h u a n (p ro d u k j a d i) s e b a g a im a n a b e ro p o s is i te rh a d a p in fo rm a s i (b a h a n m e n ta h ). S e d a n g k a n O lv e , R o v & W e n te r (1 9 9 9 ) m e n g a n g g a p

intellectual capital

se b a g a i s u a tu e le m e n p a s a r p e ru s a h a a n d a n j u g a

market

p re m iu m .

T a b e l 1 di b a w a h m e n u n ju k k a n h a sil k la s ifik a s i

intellectual capital

m e n u ru t IF A C (1 9 9 8 ). P a d a T a b e l l te rs e b u t,

intellectual property

tid a k d im a s u k k a n s e b a g a i v a ria b e l p e n d u k u n g

intellectual capital,

d is e b a b k a n a u d it

intellectual property

b u k a n m e ru p a k a n g a g a s a n b a ru (B o n tis 1 9 9 8 ) d a n

intellectual property

m e ru p a k a n a s e t y a n g d ilin d u n g i d a n d im ilik i d e fin isi h u k u m (tid a k s e p e rti k o m p o n e n

intellectual

capital

la in n y a ) (B o n tis e t al. 2 0 0 0 ). O le h s e b a b itu B o n tis (1 9 9 8 ) d a n B o n tis e t al. (2 0 0 0 ) tid a k m e m a s u k k a n

intellectual property

s e b a g a i k o m p o n e n

intellectual

capital.

H u m a n C a p i t a l

(6)

T a b e l 1

K l a s i f i k a s i I n t e l l e c t u a l C a p i t a l

H u m a n C a p i t a l

R e l a t i o n a l ( Cu s t o m e r ) C a p i t a l

O r g a n i z a t i o n a l ( S t r u c t u r a l ) C a p i t a l

k no w — ho w b r a n d I nt e l l e c t ua l pr ope r t y

p e n d id ik a n k o n s u m e n p a te n

v oc at i on al q u a l i f i c a t i o n lo y a l i t a s k o n s u m e n c o p y r i g ht s p e k e r j a a n d ih u b u n g k a n n a m a p e r u sa h a a n d e s i g n r i g ht s d e n g a n p e n g e t a h u a n b a c k l o g o r d e r s t r ade s e c r e t s p e n ila ia n p s y c h o m e t r i c j a r in g a n d is t r ib u s i t r a d e m a r k s p e k e r j a a n d ih u b u n g k a n k o la b o r a s i b is n is s e r v i c e m a r k s d e n g a n k o m p e t is i k e s e p a k a t a n li s e n s i I nf r a s t r uc t u r e a s s e t s s e m a n g a t e nt r e p r e ne ur i a l , k o n t r a k - k o n t r a k y a n g f i l o s o f i m a n a j e m e n j i w a in o v a t i f , k e m a m p u a n m e n d u k u n g b u d a y a p e r u s a h a a n p r o a k t i f d a n r e a k tif , k e s e p a k a t a n f r a nc hi s e s i s t e m in f o r m a s i k e m a m p u a n u n tu k s is t e m j a r in g a n

b e r u b a h h u b u n g a n k e u a n g a n

S u m b e r : IF A C ( 1 9 9 8 )

y a n g b e rg u n a u n tu k m e m p e rta h a n k a n k e u n g g u la n k o m p e titif. M e n u r u t W e m e rfe lt (1 9 8 4 ) , tin d a k a n s tra te g is m e m b u tu h k a n s e p e ra n g k a t s u m b e r d a y a fisik , k e u a n g a n ,

hum an

a ta u o rg a n is a s io n a l k h u s u s , s e h in g g a k e u n g g u la n k o m p e titif d ite n tu k a n o le h k e m a m p u a n n y a u n tu k m e m p e ro le h d a n m e m p e rta h a n k a n s u m b e r d a y a.

Human capital

m e ru p a k a n p e n g e ta h u a n ,

skill,

d a n p e n g a la m a n y a n g d ib a w a p e g a w a i k e tik a m e n in g g a lk a n p e ru s a h a a n (S ta ro v is & M a r r 2 0 0 4 ) y a n g m e lip u ti p e n g e ta h u a n in d iv id u s u a tu o rg a n is a s i y a n g a d a p a d a p e g a w a in y a (B o n tis , C ro s s a n & H u lla n d 2 0 0 1 ) y a n g d ih a s ilk a n m e la lu i k o m p e te n s i, s ik a p d a n k e c e rd a s a n in te le k tu a l (R o o s , E d v in s o n & D ra g o n e ti 19 9 7 ). M e n u ru t H u d s o n (1 9 9 3 ),

human

capital

j u g a d id e fin is ik a n s e b a g a i b a k a t, p e n d id ik a n , p e n g a la m a n , s ik a p d a la m h i d u p d a n b is n is.

Human capital

a d a la h s a la h s a tu m o d a l p e n tin g b a g i p e ru s a h a a n , k a re n a m e r u p a k a n s u m b e r in o v a s i d a n p e m b a h a ru a n stra te g i, p ro s e s

re-engineering,

s e rta s u m b e r m im p i d a ri p e ru s a h a a n . M e n u ru t B o n tis (1 9 9 9 ), s a la h s a tu u n s u r y a n g d a p a t m e n c i p ta k a n p e rs e p s i p a s a r y a n g p o s itif b a g i p e ru s a h a a n a d a la h

personal skill

(7)

J uwi t a , A ng g r a i ni , Pe n g a r uh H u m a n C api t al Te r ha d a p B us i ne s s P e r f o r m a nc e . 2 3 5

C u s t o m e r C a p i t a l

K o n s e p p e n tin g d a ri

customer capital

a d a la h p e n g e ta h u a n y a n g d ib e n tu k d a la m

marketing channels,

h u b u n g a n y a n g b a ik a n ta r a p e ru s a h a a n d e n g a n

customer

s e h in g g a m e n d u k u n g p e rk e m b a n g a n b is n is. C o n to h

customer capital

a d a la h

image,

lo y a lita s k o n s u m e n , k e p u a s a n k o n s u m e n , h u b u n g a n d e n g a n

supplier,

k e k u a ta n k o m e rs ia l, k a p a s ita s n e g o s ia s i d e n g a n e n tita s k e u a n g a n d a n lin g k u n g a n a k tiv ita s (S tra tto v ic & M a r r 2 0 0 4 ).

Customer capital

m e n u n ju k k a n p o te n s i y a n g d im ilik i p e ru s a h a a n k a re n a

customer capital

m e ru p a k a n a s e t ta k b e rw u ju d p e ru s a h a a n y a n g b e ra s a l d a ri p ih a k e k s te rn a l (

ex-firm intangible)

(B o n tis 199 9 ).

K o n s e p k e p u a s a n p e la n g g a n a d a la h s a la h s a tu k o n s e p y a n g s u d a h b e rk e m b a n g s e ja k ta h u n 1 9 7 0 -a n . O liv e r (1 9 8 1 ) m e n d e fin is ik a n k e p u a s a n s e b a g a i s ik a p te rh a d a p h a s il tra n s a k s i d a n d ip e rk ira k a n a k a n m e m p e n g a ru h i p e rila k u la n ju ta n a ta u k e s e tia a n p e la n g g a n . K e p u a s a n p e la n g g a n a d a la h u p a y a p e ru s a h a a n u n tu k m e m b e rik a n y a n g te rb a ik b a g i p e la n g g a n , a g a r a p a y a n g d ih a ra p k a n n y a s e s u a i d e n g a n k e n y a ta a n s e h in g g a m e re k a p u a s d a n a k a n m e m b e n tu k p e n g a la m a n k o n s u m s i y a n g p o s itif. M e n u r u t O liv e r, (A n a ta n 2 0 0 3 ), m e n g h u b u n g k a n k e p u a s a n p e la n g g a n te rh a d a p p e r ila k u la n ju ta n d a n lo y a lita s p e la n g g a n a d a la h y a n g p a lin g s e rin g d ig u n a k a n s e b a g a i re fe re n s i u n tu k m e n in g k a tk a n k e u n g g u la n p e ru s a h a a n . K e p u a s a n p e la n g g a n m e ru p a k a n v a ria b e l m e d ia to r y a n g m e n g h u b u n g k a n v a ria b e l k u a lita s la y a n a n , k e p e r c a y a a n d a n k e s e tia a n p e la n g g a n .

B u s i n e s s P e r f o r m a n c e

D i d a la m s is te m p e n g e n d a lia n fo rm a l u k u ra n k in e rja m e lip u ti u k u ra n

financial

d a n

non-financial

(F is h e r 1 9 9 8 ). U k u ra n

financial

s e b e n a rn y a m e n u n ju k k a n b e rb a g a i tin d a k a n y a n g te rja d i d i lu a r b id a n g k e u a n g a n . P e n in g k a ta n

financial

return

m e ru p a k a n a k ib a t d a ri b e rb a g a i k in e rja o p e ra s io n a l y a n g d ia n ta ra n y a a d a la h m e n in g k a tn y a k e p e rc a y a a n k o n s u m e n te rh a d a p p r o d u k y a n g d ih a s ilk a n p e ru s a h a a n , m e n in g k a tn y a

cost effectiveness

p ro s e s b is n is in te rn a l y a n g d ig u n a k a n p e ru s a h a a n u n tu k m e n g h a s ilk a n p ro d u k d a n m e n in g k a tn y a p ro d u k tiv ita s s e r ta k o m itm e n p e g a w a i (M u ly a d i & S e ty a w a n 2 0 0 1 ).

P ro d u k tiv ita s* e fis ie n s i, d a n e fe k tiv ita s m e ru p a k a n tig a k rite ria y a n g p a lin g s e rin g d ig u n a k a n d a la m m e la k u k a n e v a lu a s i e k o n o m is te rh a d a p k in e rja d a la m p ro s e s p ro d u k s i. E fisie n s i d a n e fe k tiv ita s s e rin g k a li d ia n g g a p s e b a g a i s u a tu y a n g s a lin g b e rh u b u n g a n , te ta p i s e b e n a rn y a s e c a ra k o n s e p tu a l b e rb e d a . P e n g e rtia n e fis ie n s i d ip a h a m i s e b a g a i a k tiv ita s u n tu k m e n g h a s ilk a n

output

d e n g a n m e m in im u m k a n

(8)

p e n c a p a ia n tu ju a n y a n g te p a t. E fisie n a d a la h m e la k u k a n s e s u a tu d e n g a n b e n a r d a n e f e k t i f a d a la h m e la k u k a n s e s u a tu y a n g b e n a r (A d a m et al. 199 5 ).

H u m a n C a p i t a l d a n C u s t o m e r C a p i t a l

A n a ta n ( 2 0 0 3 ) , m e n g u n g k a p k a n u n s u r - u n s u r y a n g d a p a t m e n in g k a tk a n k u a lita s p e la y a n a n d a ri p re s ta s i k a ry a w a n .

Pertama,

s ik a p d a n p e rila k u y a n g b e rk a ita n d e n g a n p ro s e s y a itu p e rh a tia n d a n b a n tu a n y a n g d ib e rik a n k a ry a w a n p e ru s a h a a n k e p a d a p e la n g g a n s e c a ra s p o n ta n d a n d e n g a n s e p e n u h h a ti u n tu k m e m e c a h k a n m a s a la h y a n g d ih a d a p i.

Kedua,

k e a n d a la n d a n s ifa t d a p a t d ip e rc a y a y a n g m e n d u k u n g situ a si d i m a n a p e la n g g a n m e m p e rc a y a k a n s e g a la s e s u a tu n y a k e p a d a p e n y e d ia j a s a b e s e rta k a r y a w a n d a n s is te m y a n g b e rla k u .

Ketiga,

a d a n y a re s p o n c e p a t y a n g d ib e rik a n p e r u s a h a a n a ta u p e n y e d ia j a s a d e n g a n m e n g a m b il tin d a k a n u n tu k m e n g e n d a lik a n s itu a s i d a n m e n c a ri p e m e c a h a n m a s a la h y a n g te p a t j i k a te rja d i k e s a la h a n a ta u s e s u a tu y a n g tid a k d ih a ra p k a n .

Human capital

p e ru s a h a a n m e m ilik i p o te n s i u n tu k m e m b a n g u n o rie n ta s i p a s a r b a g i k o n s u m e n . S e m a k in b a ik k o m p e te n s i p e g a w a i, m a k a a k a n s e m a k in b a i k p e g a w a i m e m a h a m i k e b u tu h a n k o n s u m e n d a n a k a n s e m a k in m a m p u p u la m e n g e m b a n g k a n

customer capital

u n tu k m e n a h a n lo y a lita s k o n s u m e n . H a l in i s e s u a i d e n g a n h a sil p e n e litia n B o n tis (1 9 9 8 ), B o n tis e t al. (2 0 0 0 ). P ra tiw i (2 0 0 4 ), d a n A s tu ti d a n S a b e n i (2 0 0 5 ). O le h s e b a b itu p e n e litia n in i m e n g a ju k a n h ip o te s is p e r ta m a te n ta n g h u b u n g a n

human capital

d a n

customer capital

s e b a g a i b e rik u t:

H 1 : H u m a n c a p i t a l b e r p e n g a r u h p o s i t i f t e r h a d a p c u s t o m e r c a p i t a l .

C u s t o m e r C a p i t a l d a n B u s i n e s s P e r f o r m a n c e

U n s u r u ta m a y a n g m e n d u k u n g te rc a p a in y a tu ju a n p e ru s a h a a n d a la m m e m b e r ik a n k e p u a s a n te rh a d a p k o n s u m e n a d a la h

customer capital.

M e la lu i

(9)

J uw i t a , Ang g r a i ni , Pe n g a r uh H u m a n C api t al Te r h a d a p B us i ne s s P e r f o r m a nc e . 2 37

P e ru s a h a a n y a n g b e rin v e s ta s i b e s a r u n tu k m e n ja d i fo k u s p a d a k o n s u m e n d a n m e n ja d i p e n e n tu p a s a r s e c a ra m u tla k a k a n d a p a t m e n in g k a tk a n a ta u m e m p e rb a ik i

business perform ance-

n y a . K o n s u m e n m e r u p a k a n k u n c i

survive

a ta u tid a k n y a s u a tu p e r u s a h a a n . J ik a k o n s u m e n lo y a l te r h a d a p p e r u s a h a a n , m a k a

business perform ance

a k a n d a p a t te rja g a . H a l te rs e b u t s e s u a i d e n g a n h a s il p e n e litia n B o n tis (1 9 9 8 ). O le h s e b a b itu p e n e litia n in i m e n g a ju k a n h ip o te s is k e d u a te n ta n g h u b u n g a n

customer

capital

d a n

business perform ance

s e b a g a i b e rik u t:

H 2 : C u s t o m e r c a p i t a l b e r p e n g a r u h p o s i t i f t e r h a d a p b u s i n e s s p e r f o r m a n c e .

H u m a n C a p i t a l , B u s i n e s s P e r f o r m a n c e , d a n C u s t o m e r C a p i t a l

S u m b e r c.aya m a n u s ia y a n g d ib e rd a y a g u n a k a n s e c a ra e fis ie n m e ru p a k a n s a la h s a tu fa k to r y a n g m a m p u m e n in g k a tk a n p ro d u k tiv ita s . N a m u n , d i la in p ih a k s u m b e r d a y a m a n u s ia ju g a d a p a t m e n ja d i p e m ic u te rja d in y a p e m b o ro s a n d a n in e fis ie n s i d a la m b e rb a g a i b e n tu k . H a l ini te rja d i b ila m a n a je m e n o rg a n is a s i tid a k m a m p u m e r u m u s k a n k e b ija k s a n a a n p e n g e lo la a n s u m b e r d a y a m a n u s ia d a la m o rg a n is a s i d a n m e n ja la n k a n p r a k te k - p r a k te k m a n a je m e n s u m b e r d a y a m a n u s ia y a n g te p a t.

G ro n n o o s s (E d v a r s s o n 1 9 9 4 d a la m A n a ta n 2 0 0 3 ), m e n g e m u k a k a n tig a k r ite r ia d a la m m e n ila i k u a lita s p e la y a n a n .

Pertama,

b e rh u b u n g a n d e n g a n h a sil

(outcome

related). Kedua,

b e rh u b u n g a n d e n g a n p ro s e s

(process related). Ketiga,

b e r h u b u n g a n d e n g a n k e s a n

(image related). Outcome related, process related,

d a n

image related

d a p a t d ija b a rk a n d a la m b e b e ra p a u n s u r y a n g p e rta m a a d a la h p ro f e s io n a lis m e d a n k e te r a m p ila n y a n g m e n u n ju k k a n b a h w a k rite ria in i b e rh u b u n g a n d e n g a n h a s il y a n g d ite n tu k a n o le h p e n g e ta h u a n d a n k e te r a m p ila n y a n g d im ilik i o le h k a r y a w a n u n tu k m e n g e lo la s u m b e r d a y a y a n g a d a d a n m e m a n fa a tk a n n y a d a la m s is te m o p e ra s io n a l y a n g m e n d u k u n g p ro s e s p e m e c a h a n m a s a la h p e la n g g a n s e c a ra p ro fe s io n a l.

A n d e rs o n (1 9 9 4 ) m e n u n ju k k a n a d a n y a h u b u n g a n a n ta ra k u a lita s p e la y a n a n d e n g a n k e p u a s a n p e la n g g a n . Ia m e n y a ta k a n b a h w a p e rb a ik a n k u a lita s p e la y a n a n a k a n m e n g h a s ilk a n k e p u a s a n p e la n g g a n . O le h k a r e n a itu, h u b u n g a n te r s e b u t h a ru s d itin g k a tk a n . H al ini d id u k u n g o le h Z e ith a m l (1 9 9 4 ) y a n g m e n y a ta k a n a d a n y a h u b u n g a n y a n g le m a h k e tik a k o n s u m e n m e m b u a t p e n ila ia n n e g a ti f te n ta n g k u a lita s p e la y a n a n p e ru s a h a a n y a n g b e ra k ib a t p e la n g g a n tid a k lo y a l la g i te r h a d a p p e ru s a h a a n .

(10)

quality-based strategies

d a la m p e ru s a h a a n d a p a t d ilih a t d a la m k in e rja p e ru s a h a a n y a n g m e lip u ti k e p u a s a n k o n s u m e n ,

image

k e s e lu ru h a n o rg a n is a s i,

recruitment

d a n p e m e lih a r a a n k a ry a w a n , e fe k tiv ita s b ia y a p e la y a n a n p e n g irim a n , p a n g s a p a sa r, k e p u a s a n p e k e r ja s e c a ra u m u m , k e s e lu ru h a n k in e rja fin a n s ia l, d a n p e rtu m b u h a n p e n d a p a ta n n eto .

K u a lita s p e la y a n a n s e b a g a i s u m b e r k e u n g g u la n k o m p e titif m e m ilik i p e ra n d a la m m e m p e rb a ik i p e la y a n a n te rh a d a p k o n s u m e n d a n m e n g h in d a ri m a s a la h - m a s a la h p o te n s ia l y a n g m u n c u l. S tra te g i k u a lita s d ig u n a k a n s e c a ra b e rk e la n ju ta n k a r e n a b e b e r a p a a la s a n .

Pertama,

k u a lita s m e ru p a k a n s e s u a tu y a n g tid a k s e m u a p e r u s a h a a n d a p a t m e la k u k a n n y a d e n g a n b a ik .

Kedua,

k u a lita s m e m ilik i p e n g a r u h d a la m m e n in g k a tk a n k in e rja p e ru s a h a a n di m a s a d a ta n g (A n a ta n 2 0 0 3 ). B e rd a s a rk a n u r a ia n d i a ta s d a p a t d is im p u lk a n b a h w a

human capital

b e rp e n g a ru h p o s itif te rh a d a p

business perform ance

m e la lu i

customer capital,

s e h in g g a p e n e litia n in i m e n g a ju k a n h ip o te s is k e tig a s e b a g a i b e rik u t:

H 3 : H u m a n c a p i t a l b e r p e n g a r u h p o s i t i f t e r h a d a p b u s i n e s s p e r f o r m a n c e m e la lu i c u s t o m e r c a p i t a l .

M E T O D E P E N E L I T I A N

P o p u l a s i d a n S a m p e l P e n e lit ia n

P o p u la s i p e n e litia n a d a la h s e lu ru h p e ru s a h a a n k o m o d ita s e k s p o r di S u m a te ra B a r a t d e n g a n p e r u s a h a a n - p e r u s a h a a n y a n g te rd a fta r d i D in a s P e rin d u s tria n d a n P e r d a g a n g a n L u a r N e g e ri d i S u m a te ra B a r a t s e b a g a i re ra n g k a

sampling.

U n it a n a lis is p e n e litia n a d a la h m a n a je r k e u a n g a n d a n m a n a je r p e rs o n a lia s e b a g a i w a k il p e r u s a h a a n , k a r e n a m e re k a m e m p u n y a i p e ra n p e n tin g d a la m p e n g a m b ila n k e p u tu s a n o p e r a s io n a l s e rta m e r u p a k a n m a n a je r fu n g s io n a l y a n g m e m ilik i a ta s a n d a n b a w a h a n . U k u r a n s a m p e l p e n e litia n s e b e s a r 35 y a n g d a la m s k a la k e c u k u p a n u k u ra n s a m p e l C o m f r e y d a n L e e (1 9 9 2 ) te rm a s u k d a la m k a te g o ri

fairly.

D e n g a n a s u m s i

response

rate

r e s p o n d e n 5 4 % , m a k a k u e s io n e r y a n g d ik irim a d a la h s e b a n y a k 7 0 k u e sio n e r.

J e n i s D a n S u m b e r D a t a

(11)

J uwi l a , A ng g r a i ni , P e n g a r uh H u m a n C api t al Te r h a d a p B us i n e s s Pe r f o r m a nc e . 2 3 9

M e t o d e P e n g u m p u la n D a t a

D a ta p r im e r d ik u m p u lk a n d e n g a n m e n g g u n a k a n m e to d e

survey

d e n g a n te k n ik p e n g u m p u la n d a ta m e n g g u n a k a n k u e s io n e r, y a itu d e n g a n m e n g irim k u e s io n e r m e la lu i j a s a p o s

(mail survey)

d a n

contact person

k e p a d a re s p o n d e n .

D e f e n i s i O p e r a s i o n a l d a n P e n g u k u r a n V a r ia b e l

V a ria b e l

human capital

d a n

customer capital

d iu k u r d e n g a n m e n g g u n a k a n in s tru m e n y a n g d ik e m b a n g k a n B o n tis (1 9 9 7 ), d iis i s a m p a i s e ja u h m a n a re s p o n d e n s e tu ju d e n g a n lim a s k a la L ik e rt (1 = tid a k s e tu ju s a m p a i d e n g a n 5 = s a n g a t s e tu ju ).

H uman capital

d id e fin is ik a n s e b a g a i b a k a t, p e n d id ik a n , p e n g a la m a n , s ik a p d a la m h id u p d a n b is n is , H u d s o r (1 9 9 3 ). P e n e litia n in i m e m b e rik a n 2 0 p e rta n y a a n y a n g b e r k a ita n d e n g a n

human capital,

d i m a n a te rd a p a t 5 p e rta n y a a n n e g a ti f y a itu p e r ta n y a a n 5, 13, 14, 15, d a n 19.

Customer capital

a d a la h p e n g e ta h u a n y a n g d ib e n tu k d a la m

m arketing

channels.

C o n to h

customer capital

a d a la h

image,

lo y a lita s k o n s u m e n , k e p u a s a n k o n s u m e n , h u b u n g a n d e n g a n

supplier,

k e k u a ta n k o m e rs ia l, k a p a s ita s n e g o s ia s i d e n g a n e n tita s k e u a n g a n d a n lin g k u n g a n a k tiv ita s (S tra tto v ic & M a r r 2 0 0 4 ). P e n e litia n in i m e m b e rik a n 17 p e rta n y a a n y a n g b e rk a ita n d e n g a n

customer capital.

D i s in i j u g a te rd a p a t 2 p e rta n y a a n n e g a tif, y a itu p e rta n y a a n 13 d a n 15.

V a ria b e l

business perform ance

d iu k u r d e n g a n m e n g g u n a k a n in s tru m e n y a n g d ik e m b a n g k a n o le h B o n tis (1 9 9 7 ) d e n g a n m e n g g u n a k a n lim a s k a la

rating

(1 = s a n g a t m u n d u r s a m p a i 5 = m a ju s e k a li ). B o n tis e t al. (2 0 0 0 ) m e n je la s k a n b a h w a

intellectual capital

te rm a s u k d i d a la m n y a a d a la h s e lu ru h p ro s e s d a n a s e t y a n g b ia s a n y a tid a k m u n c u l p a d a

balance-sheet

d a n s e lu ru h

intangible asset

(

trademarks,

patents, and brands)

y a n g te la h d ip e rtim b a n g k a n te rh a d a p m e to d e a k u n ta n s i y a n g

m o d e m y a n g te rm a s u k d i d a la m n y a a d a la h k o n trib u s i d a ri p e n g e ta h u a n m a n u s ia itu s e n d ir i s e b a g a i s u m b e r d a y a p e ru s a h a a n . J u m la h p e rta n y a a n y a n g d ia ju k a n a d a la h s e b a n y a k 10 p e rta n y a a n .

M e t o d e A n a lis is D a t a

P e n e litia n in i m e m p u n y a i 3 (tig a ) h ip o te s is y a n g d iu ji d e n g a n m e n g g u n a k a n te k n ik

p ath analysis

(a n a lis is ja lu r ) . A n a lis is ja l u r m e ru p a k a n p e rlu a s a n d a ri a n a lis is re g re s i u n tu k m e n a k s ir h u b u n g a n k a u s a lita s a n ta r v a ria b e l

(model causal)

(12)

G a m b a r 1

D ia g r a m P a t h

Path analysis

m e n u n ju k k a n s e c a ra e k s p lis it h u b u n g a n k a u s a lita s a n ta r v a ria b e l b e rd a s a rk a n p a d a te o ri. A n a k p a n a h m e n u n ju k k a n h u b u n g a n a n ta r v a ria b e l. S e tia p n ila i p m e n g g a m b a rk a n j a l u r d a n k o e fis ie n ja lu r. B e rd a s a rk a n g a m b a r m o d e l ja lu r, d ia ju k a n h u b u n g a n b e rd a s a rk a n te o ri b a h w a

human capital

m e m p u n y a i h u b u n g a n la n g s u n g d e n g a n

business perform ance

( p l ) , n a m u n d e m ik ia n

human capital

j u g a m e m p u n y a i h u b u n g a n tid a k la n g s u n g k e

business performance,

y a itu d a ri

human

capital

k e

customer capital

( p 2 ) b a ru k e m u d ia n k e

business performance

( p 3 ) (G h o z a li 2 0 0 2 ).

K o e fis ie n ja l u r a d a la h

standardized

k o e fis ie n re g re si. K o e fis ie n j a l u r d ih itu n g d e n g a n m e m b u a t d u a p e rs a m a a n s tru k tu ra l y a itu p e rs a m a a n re g re s i y a n g m e n u n ju k k a n h u b u n g a n y a n g d ih ip o te s is k a n . D a la m h a l ini d u a p e rs a m a a n te rs e b u t a d a la h :

1. C C = b ,H C + e,

2. B P = b ,H C + b 2C C + e 2 D i m a n a :

B P =

business performance

H C

= human capital

C C

= customer capital

b l-2 = k o e fis ie n re g re s i

e, = re s id u a l a ta s

customer capital

e,

-

re s id u a l a ta s

business performance

Standardized

k o e fis ie n u n tu k

human capital

p a d a p e rs a m a a n (1 ) a k a n m e m b e r ik a n n ila i p 2 , s e d a n g k a n k o e fis ie n u n tu k

human capital

d a n

customer

capital

p a d a p e rs a m a a n (2 ) a k a n m e m b e rik a n n ila i p l d a n p 3 . B ila n ila i k o e fis ie n

(13)

J uw i t a , A ng g r a i ni , P e n g a r uh H um a n C api t al T e r h a d a p B us i n e s s Pe r f o r m a nc e . 2 4 1

capital

m e m p e n g a ru h i

customer capital.

D e m ik ia n p u la b ila n ila i

standardized

p a d a p e rs a m a a n (2 ) p o s i t i f d a n sig n ifik a n ( p < 0 ,0 5 ) , b e ra rti

human capital

d a p a t b e rp e n g a ru h la n g s u n g k e

business perform ance

d a n d a p a t j u g a b e rp e n g a ru h tid a k la n g s u n g te rh a d a p

business perform ance

m e la lu i

customer capital

s e b a g a i

variable

intervening.

U n tu k m e n e n tu k a n h u b u n g a n tid a k la n g s u n g a d a la h d e n g a n c a ra m e n g a lik a n k o e fis ie n tid a k la n g s u n g n y a , b ila h a sil p e rk a lia n k o e fis ie n tid a k la n g s u n g le b ih b e s a r d a ri k o e fis ie n la n g s u n g b e ra rti h u b u n g a n y a n g s e b e n a rn y a a d a la h tid a k la n g s u n g (G h o z a li 2 0 0 2 ).

A N A L I S I S H A S I L P E N E L I T I A N

K a r a k t e r i s t i k d a n I n t e r p r e t a s i D a t a

P a d a b a b in i, p e n u lis a k a n m e la k u k a n a n a lis is te rh a d a p d a ta y a n g a d a , s e rta p e n g u jia n te rh a d a p h ip o te s is p e n e litia n d a n uji s ta tis tik y a n g d ip e rlu k a n . S e c a ra k e s e lu r u h a n , k u e s io n e r y a n g d is e b a rk a n b e rju m la h 70 e k s e m p la r d a n j u m la h k u e s io n e r y a n g k e m b a li a d a la h 38 e k se m p la r. D a ri ju m la h te rs e b u t, 35 k u e s io n e r s e lu r u h n y a d a p a t d ia n a lis is .

B e rd a s a rk a n d a ta p e n e litia n y a n g d ip e ro le h , s e lu ru h re s p o n d e n k e b a n y a k a n b e r u m u r d i a ta s 4 0 ta h u n (4 2 .8 6 % ) y a n g m a n a k e s e lu ru h a n n y a m e m e g a n g ja b a t a n

middle manager,

y a itu p a ra m a n a je r p e rs o n a lia (7 4 .2 9 % ) d a n m a n a je r k e u a n g a n (2 5 .7 1 % ) d e n g a n la m a n y a d i ja b a t a n s e k a ra n g p a lin g b a n y a k d i a ta s 10 ta h u n (5 1 .4 3 % ) d ib a n d in g k a n d e n g a n 5 - 1 0 ta h u n (2 8 .5 7 % ) d a n k u ra n g d a ri 5 ta h u n (2 0 .0 0 % ). S e la in itu , r e s p o n d e n p e n e litia n in i le b ih b a n y a k b e rje n is k e la m in p ria (8 2 .8 6 % ) d ib a n d in g je n i s k e la m in w a n ita (1 7 .1 4 % ). K e m u d ia n p e n d id ik a n te ra k h ir p a r a r e s p o n d e n p e n e litia n p a lin g b a n y a k p e rs e n ta s e n y a a d a la h S I (7 7 .1 4 % ), la in n y a (2 2 .8 6 % ), s e d a n g k a n S2 d a n S3 (0 % ). K e m u d ia n d a p a t j u g a d ilih a t la m a b e k e r ja p a r a re s p o n d e n , p a lin g b a n y a k p e rs e n ta s e n y a a d a la h di a ta s 10 ta h u n (6 2 .8 6 % ) s e d a n g k a n a n ta r a 5 - 1 0 ta h u n (2 0 .0 0 % ) d a n k u ra n g d a ri 5 ta h u n (1 4 .2 9 % ).

P e n g u j i a n V a lid it a s d a n R e lia b ilit a s

P e n g u jia n in s tru m e n d ila k u k a n d e n g a n p e n g u jia n v a lid ita s d a n re lia b ilita s y a n g d ib a n tu d e n g a n

software

S P S S v e rs i 12.00 . U ji v a lid ita s d ila k u k a n u n tu k m e n g e ta h u i s e b e ra p a b a ik s u a tu in s tru m e n m e n g u k u r k o n s e p y a n g s e h a ru s n y a d iu k u r. U ji v a lid ita s d ila k u k a n d e n g a n m e n g g u n a k a n fa k to r a n a lis is (

factor analysis).

(14)

m e lih a t re lia b ilita s in s tru m e n a k a n d ih itu n g

Cronbach A lpha

d a ri m a s in g -m a s in g in s tru m e n y a n g d in y a ta k a n v a lid . S u a tu in s tru m e n d in y a ta k a n d a p a t d ia n d a lk a n j ik a m e m b e rik a n n ila i

Cronbach A lpha

> 0 ,5 0 (N u n n a ly 1978 ).

H a s il p e n g u jia n v a lid ita s d a n re lia b ilita s d a p a t d ilih a t p a d a ta b e l 2 b e rik u t in i. D a ri d a ta y a n g te rs a ji p a d a ta b e l 2 te rs e b u t d ik e ta h u i b a h w a d a ta b e rn ila i v a lid , k a r e n a m e m ilik i n ilai

fa cto r loading

le b ih d a ri 0 ,4 (C h ia 1 99 5 ) d a n

Kaiser's MSA

le b ih d a ri 0 ,5 (S u g iy o n o 2 0 0 4 ). D a ta j u g a d ik a ta k a n d a p a t d ia n d a lk a n k a re n a n ila i

Cronbach A lpha >

0,5 (N u n n a lly 19 78 ).

T abel 2

H a sil P e n g u jia n V alid itas d an R elia b ilita s

V a r ia b e l J u m la h

I t e m

P e r ta n y a a n

K a i s e r ' s M S A

F a c t o r Lo a d i n g

Cr o n b a c h A l p h a

J u m la h

I t e m

V a lid d a n

R e l i a b l e

H u m a n c api t al 2 0 0 .6 9 7 0 , 5 3 0 - 0 , 8 3 9 0 .9 1 0 13

C us t o m e r c api t al 17 0 .7 2 9 0 , 4 3 1 - 0 , 9 0 7 0 .9 0 5 13

B us i ne s s p e r f o r m a n c e 10 0 .8 4 7 0 , 7 6 5 - 0 , 9 2 1 0 .9 5 7 9 S u m b e r D a ta : H a s i l P e n g o la h a n D a ta

P e n g u j ia n N o r m a lit a s

U ji n o rm a lita s b e rtu ju a n u n tu k m e n g u ji a p a k a h d a la m m o d e l re g re s i v a ria b e l te r ik a t d a n v a ria b e l b e b a s k e d u a n y a m e m p u n y a i d is trib u s i n o rm a l a ta u tid a k ( G h o z a li 2 0 0 2 ). P e n e litia n ini m e n g g u n a k a n u ji

One Sample Kolmogorov Smirnov

u n tu k m e n g u ji n o rm a lita s d a ta . D e n g a n d a s a r p e n g a m b ila n k e p u tu s a n b e rd a s a rk a n p a d a n ila i

asymp. Sig (2-tailed),

j i k a

asymp. Sig >

0 ,0 5 , m a k a d is trib u s i d a ta a d a la h n o r m a l, b e g itu ju g a s e b a lik n y a j i k a

asymp. Sig <

0 ,0 5 , m a k a d is trib u s i d a ta tid a k n o rm a l.

(15)

J nwi t a , A ng g r a i ni , P e ng a r u h H u m a n C api t al Te r h a d a p B us i ne s s Pe r f o r m a nc e . 24 3

T a b e l 3

H a s i l P e n g u j i a n N o r m a l i t a s d e n g a n O n e S a m p l e K o l m o g r o v - S m i r n o v

Human

Customer

Business

capital

capital

performance

N 35 35 35

Asymp.Sig.

(

2-tailed)

.2 5 0 .163 .1 48

a. T e st d istrib ution is N orm al S u m b er Grafik: H a sil Ou t p u t S P S S

P e n g u j i a n H ip o t e s is

P e n g u j i a n H i p o t e s i s P e r t a m a

H ip o te s is p e rta m a m e n y a ta k a n b a h w a

human capital

y a n g b a ik y a n g d im ilik i p e r u s a h a a n a k a n m e m p u n y a i d a m p a k p o s itif te rh a d a p

customer capital

a ta u d e n g a n k a ta la in k re a tiv ita s d a n k e c e rd a s a n y a n g d im ilik i p e g a w a i k o m o d ita s e k s p o r di S u m a te ra B a ra t, s e la lu b e k e r ja d e n g a n c a ra te rb a ik d a n m e m ik irk a n tin d a k a n y a n g d ila k u k a n n y a , s e h in g g a p e ru s a h a a n m e n d a p a t y a n g te rb a ik d a ri k a ry a w a n n y a . D e n g a n k e c e rd a s a n d a n k re a tiv ita s y a n g d im ilik i p e g a w a in y a , d ih a ra p k a n d a p a t m e n in g k a tk a n p a n g s a p a sa r, m e m a h a m i s e g m e n p a s a r d a n p ro fil k o n s u m e n , s e h in g g a lo y a lita s k o n s u m e n p u n a k a n m e n in g k a t.

T a b e l 4

H a s i l R e g r e s i P e n g u j i a n H i p o t e s i s P e r t a m a

C C = b l H C + e l

C o e ffic ie n ts3

Ihstandardized Sandsrdaad

Goeffiderts Cbeffiderts

B a d Error Beta t Sig.

1 (Canstart) 5Q304- 3588 14.022 .000

H jrran Cap tel .124 .113 .187 1.097 2B1

a. Cependart Vferisble: Oustcmer Capital

B e r d a s a rk a n h a s il

output

S P S S p a d a ta b e l 4 d a p a t d ilih a t b a h w a n ila i k o e fis ie n

standardized

b e ta

human capital

p a d a p e rs a m a a n (1 ) p o s itif s e b e s a r 0 ,1 8 7 n a m u n tid a k s ig n ifik a n ( p > 0 ,0 5 ) y a itu 0 ,2 8 1. N ila i k o e fis ie n

standardized

b e ta 0 ,1 8 7 m e ru p a k a n n ila i

path

a ta u j a l u r p 2 . P e n e litia n ini tid a k k o n s is te n d e n g a n p e n e litia n B o n tis e t.a l. (2 0 0 0 ) s e rta A s tu ti dc.n S a b e n i (2 0 0 5 ). M e r e k a m e n y a ta k a n d e n g a n

(16)

customer capital

ba g i p e ru s a h a a n . D e n g a n k a ta la in , p e n in g k a ta n k o m o d ita s e k s p o r d i S u m a te ra B a ra t tid a k d id u k u n g o le h k e m a m p u a n p e ru s a h a a n m e n tra n s fo rm a s i

tacit knowledge

k e d a la m p e n g e ta h u a n y a n g m e le k a t p a d a h u b u n g a n e k ste rn a l p e ru s a h a a n . P e ru s a h a a n b e lu m m a m p u m e n g g u n a k a n k e c e rd a s a n n y a u n tu k m e n g u ra n g i w a k tu d a la m m e n g a ta s i p e rm a s a la h a n k o n s u m e n , m e m a h a m i s e g m e n p a s a r d a n p ro fil k o n s u m e n d a n m e n in g k a tk a n lo y a lita s k o n s u m e n .

P e n g u j i a n H i p o t e s i s K e d u a d a n K e t i g a

H ip o te s is k e d u a m e n y a ta k a n b a h w a h u b u n g a n

customer capital

y a n g b a ik y a n g d im ilik i p e ru s a h a a n a k a n m e m p u n y a i d a m p a k p o s itif te rh a d a p

business

perform ance

a ta u d e n g a n k a ta la in d a p a t d ik a ta k a n b a h w a p e n g u ra n g a n w a k tu d a la m

m e m e c a h k a n p e rm a s a la h a n k o n s u m e n , p e n y e b a ra n d a ta u m p a n b a lik k o n s u r r e n k e s e lu r u h p e ru s a h a a n , m e la k u k a n p e rte m u a n d e n g a n k o n s u m e n , d ih a ra p k a n d a p a t m e n in g k a tk a n la b a p e ru s a h a a n , p e rtu m b u h a n la b a , p e rtu m b u h a n p e n ju a la n d a n m e m p e r b a ik i p a n d a n g a n k e d e p a n b a g i p e ru s a h a a n .

H ip o te s is k e tig a m e n y a ta k a n b a h w a

human capital

m e m p u n y a i p e n g a ru h p o s i t i f te rh a d a p

business performance

m e la lu i

customer capital.

A rtin y a , d e n g a n k e c e r d a s a n d a n k re a tiv ita s y a n g d im ilik i p e g a w a i p a d a p e ru s a h a a n k o m o d ita s e k s p o r d i S u m a te ra B a ra t d a p a t m e n in g k a tk a n p a n g s a p a sa r, m e m a h a m i s e g m e n p a s a r d a n p ro f il k o n s u m e n , s e h in g g a d a p a t m e n in g k a tk a n p e rtu m b u h a n la b a , p e rtu m b u h a n p e n ju a la n p e ru s a h a a n , d a n k in e rja p e ru s a h a a n s e c a ra m e n y e lu ru h .

T a b e l 5

H a s il R e g r e s i P e n g u j ia n H ip o t e s is K e d u a d a n K e t ig a

B P = b l H C + b 2 C C + e 2

C o e f f i c i e n t s

Unstandardized Coefficients B Std. Error

Standardized Coefficients

Beta t Sig.

1 (Constant) 23.752 10.085 2.355 .025

Human Capital .253 .122 .348 2.065 .047

Customer Capital .021 .186 .019 .115 .909

a. Dependent Variable: Business Performance

P a d a ta b e l 5 di a ta s d a p a t d ilih a t b a h w a n ila i

standardized

b e ta

human capital

0 ,3 4 8 d a n sig n ifik a n ( p < 0 ,0 5 ) , y a itu 0 ,0 4 7 , s e d a n g k a n v a ria b e l

customer capital

(17)

J uwi t a , A ng g r a i ni , P e ng a r u h H u m a n C api t al T e r h a d a p Bus i n e s s Pe r f o r m a nc e . 2 4 5

0 ,3 4 8 m e ru p a k a n n ilai ja l u r p l d a n n ila i

standardized

b e ta

customer capital

0 ,0 1 9 m e ru p a k a n n ilai j a l u r p 3 .

P e n e litia n in i m e m b u k tik a n b a h w a v a ria b e l

customer capital

b e lu m m a m p u m e m p e n g a ru h i

business perform ance

s e c a ra s ig n ifik a n ( p > 0 ,0 5 ) . H al in i b e ra rti b a h w a a n a lis is d a ta d a ri p e n e litia n ini g a g a l u n tu k m e n d u k u n g h ip o te s is no l d a n ini s e s u a i d e n g a n h a sil p e n e litia n A s tu ti d a n S a b e n i (2 0 0 5 ). D e n g a n k a ta la in p e n in g k a ta n

customer capital

tid a k m e n d u k u n g k e m a m p u a n p e ru s a h a a n m e n in g k a tk a n

business

performance-nydL.

P e ru s a h a a n e k s p o r d i S u m a te ra B a r a t b a ru m a m p u m e n in g k a tk a n

k in e rja p e r u s a h a a n n y a d e n g a n c a ra m e n g g u n a k a n k e a h lia n , k e c e rd a s a n d a n k re a tiv ita s y a n g d im ilik i p e g a w a i s e c a ra la n g s u n g ta n p a m e n tra n s f o rm a s ik a n n y a k e d a la m h u b u n g a n e k s te rn a l p e ru s a h a a n , s e h in g g a p e n in g k a ta n k in e rja p e ru s a h a a n tid a k d iirin g i d e n g a n lo y a lita s k o n s u m e n d a n k e p u a s a n k o n s u m e n y a n g tin g g i p u la .

P e n e litia n in i j u g a m e m b u k tik a n b a h w a v a ria b e l

human capital

b e lu m d a p a t m e n je la s k a n a ta u b e lu m m a m p u m e m p e n g a ru h i

business perform ance

m e la lu i

customer capital. Human capital

h a n y a d a p a t m e m p e n g a ru h i a ta u m e n je la s k a n

business perform ance

s e c a ra la n g s u n g ta n p a p e ra n ta r a

customer capital,

k a re n a s ig n ifik a n s in y a h a n y a p a d a v a ria b e l

human capital

sa ja . H a l in i b e rb e d a d e n g a n p e n e litia n A s tu ti d a n S a b e n i (2 0 0 5 ), y a n g m e n y a ta k a n b a h w a d e n g a n

tacit

knowledge-n y a p e ru s a h a a knowledge-n m a m p u m e knowledge-n c ip ta k a knowledge-n knowledge-n ila i

(value creation),

y a itu

customer capital

b a g i p e ru s a h a a n s e h in g g a m e n in g k a tk a n

business performance.

G a m b a r 2

H u b u n g a n H u m a n C a p i t a l d a n B u s i n e s s P e r f o r m a nc e D e n g a n C u s t o m e r C a p i t a l

S e b a g a i V a r i a b e l I n t e r v e n i n g

(18)

k o e fis ie n h u b u n g a n tid a k la n g s u n g , m a k a d a p a t d is im p u lk a n b a h w a h u b u n g a n y a n g s e b e n a rn y a a d a la h h u b u n g a n la n g su n g .

H u b u n g a n tid a k la n g s u n g a n ta ra

human capital

d a n

business perform ance

m e la lu i

customer capital

tid a k d id u k u n g o le h b u k ti e m p iris . H a s il p e n e litia n ini b e rb e d a d e n g a n p e n e litia n te rd a h u lu y a n g d ila k u k a n o le h A s tu ti d a n S a b e n i (2 0 0 5 ) , y a n g m e n y a ta k a n d e n g a n k e c e rd a s a n , k e a h lia n , d a n k re a tiv ita s y a n g d im ilik i p e ru s a h a a n d a p a t m e n g u ra n g i w a k tu d a la m m e m e c a h k a n p e rm a s a la h a n k o n s u m e n , m e m a h a m i s e g m e n p a s a r d a n p ro fil k o n s u m e n , s e h in g g a m e n in g k a tk a n lo y a lita s k o n s u m e n d a n d e n g a n s e n d ir in y a a k a n m e n in g k a tk a n p e rtu m b u h a n la b a , p e rtu m b u h a n p e n ju a la n , d a n k in e rja p e ru s a h a a n s e c a ra m e n y e lu ru h .

P E N U T U P

K e s i m p u l a n

M o tiv a s i d a ri p e n e litia n ini a d a la h u n tu k m e n g u ji h u b u n g a n tid a k la n g s u n g a n ta r a

human capital

d a n

business perform ance

m e la lu i

customer capital

d e n g a n

p a th analysis

y a n g m e ru p a k a n p e rlu a s a n re g re s i b e rg a n d a (G h o z a li 2 0 0 2 ). H a sil

p a th analysis

m e n u n ju k k a n b a h w a tid a k a d a n y a p e n g a r u h

human capital

te rh a d a p

business perform ance

d e n g a n

customer capital

s e b a g a i v a ria b e l

intervening,

s e h in g g a h ip o te s is p e n e litia n tid a k m e n d a p a t d u k u n g a n e m p iris .

P e n e litia n in i tid a k d id u k u n g o le h b u k ti e m p iris , k a re n a tin g k a t sig n ifik a n s i h a n y a d ite m u k a n p a d a h u b u n g a n la n g s u n g , y a itu a n ta r a

human capital

d a n

business

perform ance.

In i te rlih a t d a ri n ila i k o e fis ie n la n g s u n g le b ih b e s a r d a ri h a s il k a li

n ila i k o e fis ie n tid a k la n g s u n g n y a . N ila i t-h itu n g u n tu k p e n g a r u h

human capital

te r h a d a p

business perform ance

d i a ta s n ila i k ritis ± 1,96 d a n s ig n ifik a n (t-h itu n g : 2 ,0 6 5 ; k o e f. Ja lu r: 0 ,3 4 8 ). A rtin y a , p e ru s a h a a n e k s p o r d i S u m a te ra B a ia t b e lu m b i s a m e n g o p tim a lk a n p e n g e ta h u a n , k re a tiv ita s , p e n g a la m a n n y a k e d a la m b e n tu k p e n in g k a ta n k e p u a s a n k o n s u m e n , lo y a lita s k o n s u m e n , n e g o s ia s i d e n g a n p e ru s a h a a n la in u n tu k m e n in g k a tk a n p e n ju a la n , la b a , p e rtu m b u h a n la b a , a ta u p e n in g k a ta n k in e r ja s e c a ra k e se lu ru h a n .

H u b u n g a n tid a k la n g s u n g a n ta ra

human capital

te rh a d a p

business perform ance

m e la lu i

customer capital

tid a k d id u k u n g o le h b u k ti e m p iris . In i d a p a t d ilih a t d a ri n ila i t - h i tu n g

human capital

te rh a d a p

customer capital

b e lu m m a m p u m e la m p a u i nilai k r i t i s ± 1 ,9 6 d a n tid a k s ig n ifik a n (t-h itu n g : 1 ,0 9 7 ; k o e f. Ja lu r: 0 ,1 8 7 ). P e ru s a h a a n k o m o d ita s e k s p o r di S u m a te ra B a r a t b e lu m m a m p u m e n tra n s fo rm a s i

tacit

(19)

J uwi t a , A ng g r a i ni , P e ng a r uh H u m a n C api t al Te r h a d a p B us i ne s s P e r f o r m a nc e . 247

m e m b u k tik a n h u b u n g a n p o s itif d a n s ig n ifik a n a n ta ra

human capital

d a n

customer

capital.

U n tu k p e n g a r u h

customer capital

te rh a d a p

business perform ance

s e b a g a i v a ria b e l

intervening,

j u g a tid a k s ig n ifik a n , k a re n a n ila i t-h itu n g b e lu m m a m p u m e la m p a u i n ila i k ritis ± 1,9 6 d a n tid a k s ig n ifik a n (t-h itu n g : 0 ,1 1 5 ; k o e f. J a lu r: 0 ,0 1 9 ). P e ru s a h a a n k o m o d ita s e k s p o r d i S u m a te ra B a ra t b e lu m m a m p u m e n d a y a g u n a k a n

customer capital-nya

u n tu k m e n in g k a tk a n

business performance.

H a l ini s e s u a i d e n g a n p e n e litia n A stu ti d a n S a b e n i (2 0 0 5 ).

K e t e r b a t a s a n

P e n e litia n ini m e m ilik i k e te rb a ta s a n y a n g m u n g k in m e m p e n g a ru h i te rc a p a in y a h a sil y a n g d iin g in k a n . B e b e ra p a k e te rb a ta s a n p e n e litia n ini a n ta r a lain :

1. S a m p e l y a n g s e d ik it a k ib a t d a ri p o p u la s i y a n g h a n y a p a d a s a tu d a e ra h d a n h a n y a u n tu k p e ru s a h a a n k o m o d ita s e k sp o r, s e h in g g a h a sil p e n e litia n ini tid a k d a p a t d ig e n e ra lis a s i u n tu k s e k to r di lu a r k o m o d ita s e k sp o r.

2. P e n g u jia n v a ria b e l

intervening denganpath analysis

m a sih m e m ilik i k e te rb a ta s a n , s e h in g g a p a d a p e n e litia n s e la n ju tn y a d a p a t d ig u n a k a n a n a lis is la in s e p e rti S E M d e n g a n b e b e ra p a v a ria b e l

intervening.

S a r a n

P e n e litia n in i m e m p u n y a i s a ra n y a n g lu a s u n tu k p e n e litia n s e la n ju tn y a , k h u s u s n y a u n tu k p e n e litia n d e n g a n ju d u l y a n g s a m a , y a itu :

1. M e la k u k a n p e n g g a lia n y a n g le b ih m e n d a la m m e n g e n a i

intellectual capital,

s e h in g g a te o ri, p e n g u k u ra n , d a n p e rla k u a n m e n g e n a i

intellectual capital

d a p a t s e g e ra d ip e ro le h .

2 . S a m p e l p e n e litia n tid a k h a n y a u n tu k p e ru s a h a a n k o m o d ita s e k sp o r, te ta p i j u g a p e ru s a h a a n m a n u fa k tu r, n o n m a n u fa k tu r, d a n b e n tu k p e ru s a h a a n la in n y a , s e h in g g a p e n e litia n d ih a ra p k a n m e m b e rik a n h a s il y a n g d a p a t d ig e n e ra lis a s i k e s e lu ru h a n p e ru s a h a a n di In d o n e s ia .

3 . D ih a ra p k a n u n tu k p e n e liti-p e n e liti y a n g a k a n d a ta n g u n tu k k e m b a li d a p a t m e la k u k a n p e m b u k tia n v a ria b e l ini d a la m k a s u s y a n g s a m a a ta u m e n a m b a h k a n v a ria b e l lain y a itu

structural capital

y a n g j u g a m e ru p a k a n v a ria b e l d a ri

intellectual

capital

y a n g d a p a t m e m b e rik a n p e n g a ru h te rh a d a p

business performance,

b a ik s e b a g a i v a ria b e l in d e p e n d e n m a u p u n s e b a g a i v a ria b e l

moderating

a ta u p u n

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D A F T A R P U S T A K A

A n a ta n , L in a . “ K u a lita s P e la y a n a n (S e rv ic e Q u a lity ): S tra te g i M e r a ih K e u n g g u la n K o m p e titif B e rk e la n ju ta n M e la lu i C u s to m e r S a tis fa c tio n .”

Jurnal Ekonomi

Bisnis dan Koperasi

5, no. 2 (2 0 0 3 ): 6 2 -7 6 .

A s tu ti, P a rtiw i D w i d a n A rifin S a b e n i. “ H u b u n g a n In te lle c tu a l C a p ita l d a n B u s in e s s P e rfo rm a n c e d e n g a n D ia m o n d S p e c ific a tio n : S e b u a h P e r s p e k tif A k u n ta n s i.” D a la m

Simposium Nasional Akuntansi VIII, Solo, 15-16 September 2005.

6 9 4 -7 0 9 . 2 0 0 5 .

B o n tis , N . “ T h e r e ’s A P ric e o n Y o u r H e a d : M a n a g in g In te lle c tu a l C a p ita l S tra te g ic a lly .”

Business Quarterly

(1 9 9 6 ): 4 0 -4 7 .

--- . “ In te lle c tu a l C a p ita l Q u e s tio n n a ir e ”. In s titu te fo r In te lle c tu a l C a p ita l R e s e a r c h In c. H a m ilto n C a n a d a , 1997.

--- . “ In te lle c tu a l C a p ita l: A n E x p lo ra to ry S tu d y T h a t D e v e lo p s M e a s u re s A n d M o d e ls .”

Management Decision

3 6 , no . 2 (1 9 9 8 ): 6 3 -7 6 .

--- . “ M a n a g in g O rg a n iz a tio n a l K n o w le d g e b y D ia g n o s in g In te lle c tu a l C a p ita l: F ra m in g a n d A d v a n c in g th e S ta te o f th e F ie ld .”

International Journal o f

Technology Management

18, n o .5 /6 /7 /8 (1 9 9 9 ): 6 2 -4 3 3 .

B o n tis , N ., Keovv, W .C .C . a n d R ic h a rd s o n , S. “ In te lle c tu a l C a p ita l a n d B u s in e s s P e rfo rm a n c e in M a la y s ia n In d u s trie s .”

Journal o f Intellectual Capital

1, n o . 1 (2 0 0 0 ): 8 5 -1 0 0 .

B r o o k in g , A .

Intellectual Capital: Core Asset fo r the Third Millennium Enterprise.

L o n d o n : In te rn a tio n a l T h o m s o n B u s in e s s P re s s, 1996.

C h o o , C .W a n d B o n tis , N . (E d ).

The Strategic M anagement o f Intellectual Capital

and Organizational Knowledge.

N e w Y ork: O x fo rd U n iv e rs ity P re s s , 2 0 0 2 . G h o z a li, Im a m .

Aplikasi Analisis Multivariate dengan Program SPSS.

B a n d u n g :

B a d a n P e n e rb it U n iv . D ip o n e g o ro , 2 0 0 2 .

I k a t a n A k u n ta n s i In d o n e s ia .

Standar Akuntansi Keuangan p e r I Oktober 2004

J a k a rta : S a le m b a E m p a t, 2 0 0 4 .

K o tle r , P h ilip . “ P ro fe s io n a l d i M a rk e tin g .”

Marketing,

A g u s tu s 2 0 0 6 , 6 8 .

M a r g a r e th a , F a ra h d a n A r ie f R a k h m a n . “A n a lis is P e n g a ru h In te lle c tu a l C a p ita l te rh a d a p M a rk e t V alu e d a n F in a n c ia l P e rfo rm a n c e P e ru s a h a a n d e n g a n M e to d e V alu e A d d e d In te lle c tu a l C o e ffic ie n t.”

Jurnal Bisnis dan Akuntansi

8, n o . 2 (2 0 0 6 ): 1 9 9 -2 17 .

M u ly a d i d a n J h o n n y S e tia w a n .

Sistem Perencanaan & Pengendalian Manajemen,

e d isi k e d u a . Ja k a rta : S a le m b a E m p a t, 2 0 0 1 .

N u n n a lly , J .C .

Phsycometric Theory.

2 nd ed. N e w Y ork: M c G ra w -H ill, 1978.

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J uwi t a , A ng g r a i ni , Pe n g a r uh H u n i a n C api t al Te r h a d a p Bus i n e s s P e r f o r m a nc e . . . 249

P ik e , S., A . R y la n d e r, d a n R o ss G .

“Intellectual Capital Management and Disclosure ”

d a la m C h o o , C .W a n d B o n tis , N . (E d ). 2 0 0 2 . “ T h e S tra te g ic M a n a g e m e n t o f In te lle c tu a l C a p ita l a n d O rg a n is a tio n a l K n o w le d g e ” . N e w Y ork: O x fo rd U n iv e rs ity P re s s, 2 0 0 2 .

R o o s , G ., J. R o o s, L. A d v in s o n d a n N .C . D ra g o n e tti.

Intellectual Capital Navigating

in the New Business Landscape.

N e w Y ork: N e w Y o rk U n iv e rs ity P re s s , 1 9 9 7 .

S te w a rt, T.

Intellectual Capital: The New Wealth o f Organizations.

N e w Y ork : D o u b le d a y /C u rre n c y , 1997.

S u p a rjo . “ H u m a n R e s o u rc e A c c o u n tin g K h u s u s n y a H u m a n C a p ita l p a d a S e k to r P u b lik .” 2 0 0 6 . h ttp ://w w w .g o o g le .c o .id /

S u w a ld im a n , M . A ccy .

Tujuan Pelaporan Keuangan: Konsep Perbandingan dan

Rekayasa Sosial.

Y o g y a k a rta : E k o n is ia , 2 0 0 5 .

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