The Effect of Intellectual Capital on Profitability with Firm Size as a Moderating Variable in Manufacturing Companies Listed on the Indonesia Stock Exchange (IDX) for the Period 2021–2023

This study examines the influence of intellectual capital on profitability with firm size as a moderating variable in manufacturing companies listed on the Indonesia Stock Exchange (IDX) for the 2021–2023 period. Return on assets (ROA) is used as a proxy for profitability, the VAICTM model is used to assess intellectual capital, and total assets are used to measure business size. Moderated Regression Analysis (MRA) was utilized to analyze the 359 data samples used in this study. The results show that Intellectual Capital has a significant positive effect on profitability. Firm size is proven to negatively moderate this effect, indicating that the positive impact of intellectual capital on profitability tends to weaken in larger-scale companies.