This study investigates the direct and indirect effects, mediated by audit committee quality, of managerial ownership, institutional ownership, and profitability on intellectual capital (IC) disclosure. The object observed of this study is companies listed on the Indonesia Stock Exchange (IDX) in the 2014-2018 period that are classified as high intellectual capital-intensive industries. Based on the sampling method, purposive sampling, 51 companies were selected as samples. This study used path analysis techniques with IBM SPSS version 25 to study the direct and indirect influences of managerial ownership, institutional ownership, and profitability toward IC disclosure. The results of this study show that managerial ownership, profitability and audit committee quality have a significant positive effect on IC disclosure whereas institutional ownership has significant negative effect on IC disclosure. This study also provides empirical evidence, supported by the sobel test, that the audit committee quality is able to mediate the effect of institutional ownership and profitability on IC disclosure. However, the audit committee quality is not able to mediate the effect of managerial ownership on IC disclosure. These findings develop and strengthen the results of prior studies related to the implementation of signaling theory and agency theory in devoting more understanding about IC disclosure.

Abstract
1. Introduction
2. Literature Review and Hypotheses
    2.1. Agency and Signaling Theory
    2.2. Intellectual Capital
    2.3. Effect of Managerial Ownership on ICDisclosure
    2.4. Effect of Institutional Ownership on ICDisclosure
    2.5. Effect of Profitability on IC Disclosure
    2.6. Effect of Audit Committee Quality on ICDisclosure
    2.7. Audit Committee Quality Mediates Effect ofManagerial Ownership on IC Disclosure
    2.8. Audit Committee Quality Mediates Effect ofInstitutional Ownership on IC Disclosure
    2.9. Audit Committee Quality Mediates Effect ofProfitability on IC Disclosure
3. Research Methods
4. Results and Discussion
    4.1. The Effect of Managerial Ownership on ICDisclosure
    4.2. The Effect of Institutional Ownership on ICDisclosure
    4.3. The Effect of Profitability on IC Disclosure
    4.4. The Effect of Audit Committee Quality on ICDisclosure
    4.5. The Audit Committee Quality Mediatesthe Effect of Managerial Ownership on ICDisclosure
    4.6. Audit Committee Quality Mediates the Effectof Institutional Ownership on IC Disclosure
    4.7. Audit Committee Quality Mediates the Effectof Profitability on IC Disclosure
5. Conclusion
References

• Siti Fatimah ZAHRA(Department, Faculty of Economics, Universitas Negeri Jakarta)
• Muhammad Ihlashul AMAL(Department, Faculty of Economics, Universitas Negeri Semarang) Corresponding Author.
• Fachrurrozie FACHRURROZIE(Department, Faculty of Economics, Universitas Negeri Semarang)
• Resa Nur ASTUTI(Department, Faculty of Economics, Universitas Negeri Semarang)