Intellectual Capital Disclosure Analysis based on Profitability in Tourism and Hospitality Sector in Indonesia and Thailand

This research aims to investigate the level of disclosure of intellectual capital components in tourism and hospitality companies in Indonesia and Thailand. We use intellectual capital components and profitability levels as variables. This research analyzes the differences in the level of disclosure of intellectual capital components between tourism and hospitality companies in Indonesia and Thailand that fall into the category of having high profitability and companies that fall into the category of having low profitability. This research uses One-Sample Kolmogorov-Smirnov Test and Wilcoxon Signed Ranks Test to analyze the data. The results showed significant differences in the disclosure of intellectual capital components in tourism and hospitality companies in Indonesia and Thailand. Human Capital is the component with the highest level of disclosures. Companies classified as having high profitability tend to disclose more about intellectual capital than companies classified as having low profitability.


INTRODUCTION
and being an essential consideration for investment decisions (Salvi et al., 2020 (Masaro et al., 2018) The research results conducted by (Masaro et al., 2018) and (Zhang, 2016)   The purpose of this study is to determine whether the disclosure of HCD, SCD, and RCD in Indonesia and Thailand have significant differences.
In addition, this study also analyses whether disclosures of HCD, SCD and RCD in companies with low profitability and those with high profitability in Indonesia and Thailand has a significant difference.

Intellectual Capital Disclosure
Intellectual capital is described as a valuable resource that includes both tacit and explicit knowledge-based abilities (Subaida & Mardiati, 2018).
According to (Popkova & Sergi, 2020 ). The problem of information asymmetry is a characteristic of products that sell experiences, such as tourism (Rocha & Fink, 2017). (Taj, 2016) also reveals that signals are often sent to influence tourists for the tourism industry. Tourists tend to rely on signals, which saves them from searching for information and allows them to make more rational decisions (Ballina et al., 2019). (Kamath, 2017) finds that companies in India are more likely to disclose HC than RC as well as SC. In addition, research conducted by (Duff, 2018) (Hamzah et al., 2011) also suggest that the higher the level of company profitability , the company will voluntarily disclose its company information . In addition , companies with poor performance will disclose less information to hide the company ' s performance from investors . Therefore , the second hypothesis is that: H2: There is a significant difference in HCD, SCD and RCD in companies with low and high profitability.

Population and Sample
This study uses data from companies engaged in the tourism and hospitality sector in Indonesia and are classified as companies with low levels of profitability.     Notes: statistical significance is at the following levels: *** = 1%; ** = 5%; * = 10% Notes: statistical significance is at the following levels: *** = 1%; ** = 5%; * = 10% HCD, SCD, RCD, ICD, and Profitability (ROA).   points, followed by RCD increased by 7.39 points. It shows that RCD will always follow the rise in HCD as well as SCD. Table  8 shows that the observations for the low profitability group are more than the high profitability group. The results of the independent sample t-test showed a significant number of less than 5% for HCD and significant figures of less than 1% for SCD and RCD. It can also be seen from the mean ranking figures, the group of companies that are included in the high profitability group has a higher mean rating value than the group of companies that are included in the low profitability group.

Discussion
It indicates a significant difference in the number of disclosures of HCD, SCD, and RCD in companies classified as high profitability compared to the low profitability. So it can be said that the second hypothesis is accepted.
High profitability companies disclose more intellectual capital because these companies have the funds to make extensive and detailed Asymp. Sig.