Abstract
This study examines the impact of intellectual capital (VAIC) on firm value (Market Value of Equity) within the non-cyclical consumer sector, positioning the digital era strictly as a contextual background rather than an empirically measured variable. This is a quantitative study using multiple linear regression, where 79 companies on the Indonesia Stock Exchange were examined over a 5-year period (2020–2024), resulting in a total of 395 firm-year observations, the findings reveal that VAIC yields a negligible negative coefficient that lacks statistical significance, leading to the conclusion that it does not influence MVE. Leverage also shows no significant effect. Conversely, profitability, firm size, and managerial and institutional ownership exert a significant positive impact. These findings suggest a tendency for market participants to rely more on conventional financial indicators, firm size, and ownership governance structures than on the efficiency of intellectual capital management