This research aims to investigate the influence of female directors on Intellectual Capital Performance(ICP)using a sample of manufacturing-listed companies in China.Our study investigates the link between having two ...This research aims to investigate the influence of female directors on Intellectual Capital Performance(ICP)using a sample of manufacturing-listed companies in China.Our study investigates the link between having two or more female directors and the Modified Value-Added Intellectual Coefficient(MVAIC)methodology,employing the critical mass theory from 2004–2017.We find that having a critical mass of female directors(three or more)shows a significant positive impact on MVAIC and its components,including human capital efficiency,structural capital efficiency,relational capital efficiency,and physical capital efficiency,with physical capital being the critical driver.Our study reveals that the critical mass participation of female directors substantially influences the IC efficiency of privately owned companies compared to state-owned companies.Moreover,the number of female directors also affects the IC performance of manufacturing companies in multiple regions.Our findings support the validity of group classification identified by Kanter and Critical Mass Theory.To the best of our knowledge,this is one of the few pieces of research that studies the role of female board directors in IC performance and Chinese manufacturing firms using MVAIC as an IC measure.展开更多
This paper templet is copyright by Global Conference on Business and Social Science organized by Global Academy of Training&Research(GATR)Enterprise.Intellectual capital and knowledge are the most important assets...This paper templet is copyright by Global Conference on Business and Social Science organized by Global Academy of Training&Research(GATR)Enterprise.Intellectual capital and knowledge are the most important assets of most organizations to ensure that determined or intended strategies can be implemented.The resource-based view of the firm considers the firm as a bundle of tangible resources,intangible resources,and organisational capabilities.An effective IC refers to the critical issues of organisational adaptation,survival and competence in the face of discontinuous environmental change.KM is essential for retaining employees’knowledge within a firm by using appropriate technology and tools to capture and store the knowledge residing in the minds of its employees,so it can be easily shared and reused.There is a growing realisation of the importance of the development and understanding of theory for both Intellectual Capital and Knowledge Management in relation to guide the successful development of Knowledge Management Organisations.This study is fundamental because it will provide the whole picture about the different levels of knowledge;individual,group and organizational,which express internal knowledge(formal and informal knowledge)and external knowledge such as customers and suppliers.The aim of this study is addressed some of the gaps in Intellectual Capital literature.It is necessary to investigate the interactions between IC components in Knowledge management organizations,which include human capital(HC),Organizational capital(OC),and Relational capital(RC).This is important in order to discover the extent to which these factors work together to achieve a network’s knowledge management in organization.展开更多
Intellectual capital （IC） is an important source of value for companies. The competitive firm invests in new productive ideas through scientific and technological researches of the human factor and services. The tra...Intellectual capital （IC） is an important source of value for companies. The competitive firm invests in new productive ideas through scientific and technological researches of the human factor and services. The traditional factors of＂old economy＂ based on physical assets have been replaced or at least reinforced, with the belief that the ＂new economy＂ takes its steps mainly through IC. The knowledge workers, at every organizational level, have the knowledge that allows the organization to be competitive and deal with the complexity of the environment by creating intellectual added value. In particular, the proposed analysis consists with an empirical way to show other financial indicators and market-to-book （MTB） value from the perspective of creating value for shareholders based on the dynamics of companies＇ performance, as value-added intellectual capital （VAICTM） is capable of expressing a direct relationship with the return on equity （ROE）. The traditional financial information cannot ensure the high efficiency of a stock market and the need for IC reporting to explain intangible asset contribution in company performance.展开更多
We develop a descriptive framework of the components of intellectual capital (IC) in annual reports and investigate the effects of disclosure of IC on market capitalization.We use content analysis to analyze the annua...We develop a descriptive framework of the components of intellectual capital (IC) in annual reports and investigate the effects of disclosure of IC on market capitalization.We use content analysis to analyze the annual reports of a sample of Fortune 100 listed companies in 2006 announced by Chinese Academy of Social Sciences.We select the 49 listed companies for content analysis of their 226 annual reports over the five-year period of 2001-2005.There is a highly significant and positive correlation between IC disclosure and market capitalization.In china,some high quality listed companies have existed IC information and increased year after year.More and more listed companies disclose their IC information spontaneity in structure capital,customer capital,and human capital,although Ministry of Finance only give the criterion on structure.There exists significant difference between industries when using ICR to analyze the competitive power.展开更多
The aim of this paper is to assess the impact of intellectual capital （IC） on firms＇ financial performance with reference to a sample of companies operating in the European Union （EU） area during the period from ...The aim of this paper is to assess the impact of intellectual capital （IC） on firms＇ financial performance with reference to a sample of companies operating in the European Union （EU） area during the period from 2006 to 2013. The analyses are further differentiated by country of domicile, industry sector, and historical period （pre-crisis and crisis）. We investigate whether the value of the components of IC is a relevant factor that influences firms＇ performance, proposing and testing a modified version of the value added intellectual capital （VAICTM） model which also considers country-specific differences in terms of default risk. The empirical results evidence the relevance of the information on IC disclosed by companies. Differences arise depending on the reference country, industry, and historical period examined. The main limitations of the research are the unbalanced structure of the sample among countries and industries and the specificity of the examined sample （listed firms applying IAS/IFRS system）. The main implication of the study is that, since we demonstrate the value relevance of IC, our findings could be of interest for standard setters for defining a standard （qualitative and quantitative） level of information on human resources to be disclosed by companies in their financial statements. Our contribution to the literature is the proposal of some relevant modifications to the original VAICTM model and providing new evidence on the influence that IC had in recent years on business performance in the EU.展开更多
The intellectual capital is a main source of competing advantage. Many studies developed measure（s） of intellectual capital of industrial and service firms. Few studies have tried to develop a reliable measure of in...The intellectual capital is a main source of competing advantage. Many studies developed measure（s） of intellectual capital of industrial and service firms. Few studies have tried to develop a reliable measure of intellectual capital in audit firms. This study extends the current models to provide more insight into the role of intellectual capital in audit firms. The aim of this study is to develop a quantitative model to measure audit firms＇ intellectual capital. The suggested model can be used to explore the relationship between the intellectual capital in audit firms and audit quality. The model combines the main components of intellectual capital （human capital, structural capital, and relational capital）. The suggested model provides a tool that may help to better manage the intellectual capital in audit firms. As this is a theoretical study, a number of hypotheses are presented for testing in the future.展开更多
The broad objective of this study was to establish the moderating effect of corporate culture on the relationship between intellectual capital and organizational performance of firms listed on Nairobi Securities Excha...The broad objective of this study was to establish the moderating effect of corporate culture on the relationship between intellectual capital and organizational performance of firms listed on Nairobi Securities Exchange. The review of literature provided conceptual and empirical gaps that formed the basis of the conceptual hypotheses. Two hypotheses were deduced from general objective： Intellectual capital has a significant influence on corporate performance; corporate culture moderates the relationship between intellectual capital and corporate performance. A cross-section research design was adopted. A survey questionnaire was the main tool of data collection and was distributed to the 50 heads of human resource departments in the different firms＇ period covering four financial years from 2009 to 2012. The study also utilized secondary data obtained from Capital Market Authority Statistical bulletins and Nairobi Securities Exchange Handbook 2012-2013 to collect data on financial performance （ROA, ROE, and Dividend Yield）. Data were tested for reliability results showing that study dimensions were reliable, apart from task-oriented culture that had a Cronbach alpha of 0.262, thus being not considered for further analysis; thus the study relied on employee-oriented culture as a measure of corporate culture. The hypotheses were tested using multiple regression analysis and hierarchical regression respectively. Multiple regression analysis showed that intellectual capital had a significant influence on non-financial performance and no significant influence on financial measures of performance （ROA, ROE, and Dividend Yield）. Test for moderation showed that the interaction term was not significant and thus, employee-oriented culture did not moderate the relationship between intellectual capital and corporate performance. The study demonstrates importance of the influence of intellectual capital on non-financial performance of firms listed on Nairobi Securities Exchange. The results show that interplay among human capital, social capital, and organization capital is important for firms listed on Nairobi Securities Exchange and that the firms should nurture the employees into sharing their knowledge by creating internal and external networks and also creating support system within the organization to retain the knowledge.展开更多
Intellectual capital disclosure （ICD） has experienced a substantial increase in recent decades and many frameworks and guidelines have been issued to provide directions with regard to what constitutes ＂good＂ ICD. ...Intellectual capital disclosure （ICD） has experienced a substantial increase in recent decades and many frameworks and guidelines have been issued to provide directions with regard to what constitutes ＂good＂ ICD. Companies can use Extensible Business Reporting Language （XBRL） to ＂build＂ their own intellectual capital （IC） reports. This digital format has both technical and operating characteristics suitable for reporting non-financial information. This paper reports the findings of a survey of the views of 37 Italian preparers on the scope, the taxonomy, and the assurance of IC reporting via XBRL. It was found that respondents favor the adoption of an IC reporting framework and the standardization of IC indicators. Preferences reveal uncertainty about the level of flexibility for tagging IC information, while supporting the main benefits of XBRL and indicating a marked inclination for tagged information certified by an independent audit. Overall, despite a low awareness of XBRL, the importance placed on standardization of IC information and on the usefulness of the comparability and the speed attribute of XBRL supports the appealing features of this language for developing IC reporting.展开更多
This work investigates the relationship between intellectual capital and value creation in the sector of production and assembly of vehicles and auto-parts in Brazil. Through the access of the database from the annual...This work investigates the relationship between intellectual capital and value creation in the sector of production and assembly of vehicles and auto-parts in Brazil. Through the access of the database from the annual industrial research conducted by the Brazilian Institute of Geography and Statistics, we gathered 865 observations, from 2000 to 2006, of public and private Brazilian companies with more than 100 employees. The database allows the estimate of relevant aggregated variables such as national accounts, gross domestic product, intermediate consumption, as well as propitiates a sectorial study of business strategies and performance, including value added by individual companies. In particular, in this study we use data on variables associated to intellectual capital. To achieve the goal of the study, we consider intellectual capital as defined by Pulic （2000, 2002）, including human capital and structural capital. For the analysis of business performance, we used Pulic＇s VAIC （Value Added Intellectual Cofficient） index as a measure of efficiency of the employed financial and intellectual capital. Regression models were run to verify the relationship among the efficiency in the use of intellectual capital and the profitability of Brazilian companies. The gross income, calculated as before selling, general and administrative expenses, depreciation expenses, amortization and interest expenses, was used as measure of the flows of value creation and the profitability was measured by the gross income to the total assets of the companies. Considering the constructs defined by Pulic （2000, 2002）, we tested, for the Brazilian sector of Production and Assembly of Vehicles and Auto-parts, the following hypotheses： （l） there is a positive relationship between value creation and intellectual capital, （2） there is a positive relationship between value creation and stock of intellectual capital, （3） there is a positive relationship between value creation and efficiency of the employed capital, （4） there is a positive relationship between value creation and efficiency of the human capital, （5） there is a positive relationship between value creation and efficiency of the structural capital. The results of the study, obtained through panel data analysis and through the use static and dynamic models, support the hypotheses that the intellectual capital of the companies, in its flow and stock dimensions, is positively and significantly related to value creation.展开更多
Innovation is one of the main drivers of economic development. In the knowledge economy era, the quickness of technological developments and globalization has changed the structure of business world. Consequently, thi...Innovation is one of the main drivers of economic development. In the knowledge economy era, the quickness of technological developments and globalization has changed the structure of business world. Consequently, this situation creates opportunities and also threats for companies. Companies should attach importance to innovation in order to maintain sustainable growth and gain competitive advantage. According to Barsky and Marchat （2000） in the new economy the value of a company is not found with its tangible assets, revenues, financial ratios or market share, but with its intellectual capital, organizational culture, customer loyalty and brand equity. According to resource-based view of the company; the resources are fundamental factors of competitiveness and performance. These resources are regarded as strategic assets, which include tangible and intangible assets. Intellectual capital which is becoming one of the important commercial assets of the 21 st century is a way of describing a company＇s intangible assets that are vital for company success. Intellectual capital consists of human capital, relational capital and structural capital. Intellectual capital which is a core strategical resource of a company is playing a crucial role in a company＇s innovation performance. This study attempts to analyze the interrelationships between intellectual capital and innovation in the context of resource-based view of the company. This study also focuses in particular on the effects of human capital, relational capital and structural capital which are the components of intellectual capital, on innovation by integrating the relevant theoretical and empirical evidence.展开更多
The main purpose of this study is to verify the influence of accumulated Intellectual Capital （IC） on the organizational performance of biotechnology companies listed on the Taiwan Stock Exchange, with brand equity ...The main purpose of this study is to verify the influence of accumulated Intellectual Capital （IC） on the organizational performance of biotechnology companies listed on the Taiwan Stock Exchange, with brand equity being the moderating variable. Financial and marketing section chiefs or employees of higher levels at Taiwan listed biotechnology companies were interviewed, with the companies＇ ROE （return on equity） data obtained from the Taiwan Economic Journal （TEJ） database. While convenience sampling was used to yield knowledge from the population, the linear Structural Equation Modeling （SEM） was adopted to verify the goodness-of-fit effects among the overall model, structural model, and measurement model. Findings from this study show that, at Taiwan listed biotechnology companies, IC accumulation and increased brand equity have significantly interactive influences on organizational performance.展开更多
This paper aims to explore the impact of intellectual capital efficiency （ICE） on firm performance in the context of professional football clubs. In particular, our aim is twofold： （1） to provide measures of ICE ...This paper aims to explore the impact of intellectual capital efficiency （ICE） on firm performance in the context of professional football clubs. In particular, our aim is twofold： （1） to provide measures of ICE specifically tailored to professional football businesses; and （2） to empirically investigate whether some dimensions of ICE, namely, human capital and relational capital efficiency, are positively associated with sporting performance, here used as a proxy for business performance. This paper develops a quantitative analysis of club-level panel data using the statistical technique known as mixed-effects linear regression for longitudinal analysis. The research spans a time period of five years and specifically the sporting seasons from 2007/2008 up to 2011/2012. The empirical findings of this study provide tentative evidence that ICE, especially as far as relational capital is concerned, is positively associated with on-pitch performance of professional football businesses. On the counterpart, results for the impact of human capital efficiency （HCE） do not consistently come out with the （positive） expected signs. More specifically, our findings suggest that relational capital efficiency, meaning the ability to develop and nurture positive business relationship with relevant external stakeholders, is a significant consideration for football club managers; on the other, they might shed light on the actual business model of professional football clubs that, in our analysis, does not appear consistent with the long-held hypothesis of winning maximization. The main limitation of this study lies in the fact that our indicators do not fully capture all relevant dimensions of the intellectual capital （IC） construct.展开更多
The purpose of this paper is to systematize sport accounting literature with intellectual capital(IC)lenses.Professional sport organizations are knowledge-based institutions,in which the IC plays a central role.IC is ...The purpose of this paper is to systematize sport accounting literature with intellectual capital(IC)lenses.Professional sport organizations are knowledge-based institutions,in which the IC plays a central role.IC is a significant driver for value creation for professional sport organizations and it is the expression of their market value.The relevance of IC in professional sport organizations allows us to delve into IC accounting research.Growing but highly fragmented literature focuses on accounting and reporting practices inside professional sport organizations,and analyzes single aspects of IC.As a starting point,we analyze the sport organizations’literature with the aim of investigating the IC value creation process.We then investigate IC accounting and reporting practices and the role of IC disclosure in relation to information transparency.The present work contributes to the extant literature by providing the“state of the art”of sport studies in accounting for IC.It also contributes to the extant literature by offering future avenues for advances in IC accounting research and theories.展开更多
The purpose of this paper is to examine the role of knowledge and learning as a dynamic capability that leads to competitive advantage in family firms.It further conceptually develops a model showing the relationship ...The purpose of this paper is to examine the role of knowledge and learning as a dynamic capability that leads to competitive advantage in family firms.It further conceptually develops a model showing the relationship between intellectual capital,firm performance,and dynamic capabilities in family firms.This study highlights knowledge accumulation,knowledge integration,knowledge codification,and the preservation of socioemotional wealth(SEW)as a set of dynamic capabilities.Such capabilities allow a family firm to sense and seize business opportunities and gain competitive advantages.Findings from the case applications reveal that family businesses benefit from the accumulation of knowledge through expertise,skills,and employment of non-family members and having family involvement as important strategic assets that lead to increased value in family firms’performance.展开更多
This research aims to provide a Structured Literature Review(SLR)concerning the role of Intellectual Capital(IC)in Integrated Reporting(IR).It analyses papers published in journals from business,management,and account...This research aims to provide a Structured Literature Review(SLR)concerning the role of Intellectual Capital(IC)in Integrated Reporting(IR).It analyses papers published in journals from business,management,and accounting area,from 2013 to 2021 with the purpose of pointing out relevant insights about the relationship between IC and IR.Despite that existing literature offers valuable contributions about IC,and the International Integrated Reporting Council included IC related issues among the aims and the fundamentals concepts of IR,this is a topic of growing interest that offers many avenues for further discussion.Analysing past and present literature,this study found that most of the papers use content analysis or a conceptual and critical approach.Moreover,three main paths emerged:about IC disclosure,about IC and IR as a field of research,about a practical concern of IR and IC.Moreover,it tries to frame a future research agenda;particularly,this paper emphasizes the need for further research about the importance of new technologies as they are considered to be the IC of modern organization.展开更多
This study delves into the dynamics of green product innovation,artificial intelligence(Al)adaption,and intellectual capital,investigating their impact on the competitiveness of firms in Oman.It emphasizes the crucial...This study delves into the dynamics of green product innovation,artificial intelligence(Al)adaption,and intellectual capital,investigating their impact on the competitiveness of firms in Oman.It emphasizes the crucial role of government intervention and R&D investments in this process.Based on the responses of 214 top managers in Oman,the research employs structural equation modeling to analyze the intricate relationships between these factors.The findings underscore a significant positive correlation between green innovation,Al implementation,and intellectual capital,with government involvement and R&D investments as vital moderators.This study provides a novel perspective on the synergy of technology,innovation,and intellectual capital in developing economies.It offers essential insights for business leaders,policymakers,and scholars,highlighting the necessity of integrating advanced technologies and sustainable practices in business strategies to achieve competitive advantage.The research adds to the existing body of knowledge on innovation and competitiveness.It offers practical implications for enhancing firm performance in Oman and similar emerging markets.展开更多
As we are in the knowledge economy, the main purpose of this research is to define the value of relational capital by measuring it with an innovative model. To this end, this paper will explain the meaning of intellec...As we are in the knowledge economy, the main purpose of this research is to define the value of relational capital by measuring it with an innovative model. To this end, this paper will explain the meaning of intellectual capital （human capital, structural capital, and relational capital） in the field of knowledge economy and what relational capital is and how we can measure its value. The research is qualitative in nature and was developed through the study of the international literature. The research presents some theoretical evidences that permit defining a method for the evaluation of relational capital. In this direction, the above method will need to have some integration in the future research. Moreover, this approach should consider some empirical evidences to establish the practical value of the method. In fact, the method presented encourages debate and a critical attitude towards the evaluations of relational capital and intellectual capital.展开更多
It is a common belief, for the last two decades, that we can observe the transformation of the intemational economy, from industrial to knowledge economy. In a continuous changing economy, the main advantage the compa...It is a common belief, for the last two decades, that we can observe the transformation of the intemational economy, from industrial to knowledge economy. In a continuous changing economy, the main advantage the companies have is not the buildings, the machines, the trucks, or the total equipment. The strategic key of a company today is the capital that cannot be copied easily, that is not disclosed and is not tangible, the intellectual capital of the company. The intangible assets can be characterized as those without physical appearance and the value of which is limited by the rights and anticipative benefits that possession confers upon the owner. The expansion of companies into foreign markets presupposes the aggregation of financial information that includes non-homogeneous elements. The purpose of this paper is to examine the framework of identification, as well as the disclosure requirements of brand names as they have been set by several articles of Commercial Law and recognized by professional accounting institutions. Emphasis will be given to analyzing existing accounting recognition and measurement, and proposals worldwide. In conclusion, this study indicates the accounting problems of definition, measurement, and disclosure of the majority of these intangible assets to users of financial statements of the company. Despite all the difficulties, this property of the company must in some way be measured and disclosed to lead to more reliable financial statements. The proposals of this paper, will help the accounting community to solve this major problem.展开更多
Intellectual capital(IC)has become a universal performance indicator for the socioeconomic development of countries and regions.Based on a review ofnational intellectualcapital(NIC)and regional intellectualcapital(RIC...Intellectual capital(IC)has become a universal performance indicator for the socioeconomic development of countries and regions.Based on a review ofnational intellectualcapital(NIC)and regional intellectualcapital(RIC)evaluation literature,we used the regional intellectualcapitalindicator(RICI)as a model for China’s RIC evaluation to indirectly understand China’s potential economic growth drivers.Specifically,we collected statisticaldata of31 provinces(including municipalities and autonomous regions)in China from 2004 to 2016to measure RICI and analyze its dynamic characteristics from temporal and spatial perspectives.In this paper,Delphi analysis was used to construct RICI model,and cluster analysisand exploratory spatial data analysis were used to analyze the temporal and spatial characteristics of RICI in China.The results showedthat RICI,which represents China’s overall economic growth drivers,increases annuallyand is consistent with economic developmentlevelduring the study period.Regarding the geo-spatial space,RICI follows the trend of“high in the east and low in the west”,gradually decreasing from eastern to western China.ForRIC structure,the shape of the radar chart of IC structure located in the eastern coastal areas is usually biased towards strong external relational capital,while that in western China is generally biased towards structural capital.For spatial correlation,China’s RICI has dependence on geographical adjacent space and economic space.Our research can provide policy suggestions for the sustainable development of regional economy from an IC perspective.展开更多
The application of knowledge is a primary source of growth in the knowledge economy. The World Bank Group has developed a rigorous assessment methodology for assessing a country＇s ability to access and use knowledge ...The application of knowledge is a primary source of growth in the knowledge economy. The World Bank Group has developed a rigorous assessment methodology for assessing a country＇s ability to access and use knowledge to become more competitive in the knowledge economy of the 21st century. The World Bank＇s annual knowledge economy index is grounded on a four-pillar model： （1） economic incentives and institutional regime; （2） education and skills; （3） information and communication infrastructure; and （4） innovation systems. An argument can be made that the model lacks coverage of some key factors that pertain to intellectual capital and the production and consumption of knowledge. The model＇s heavy focus on economic incentives and open institutional regimes comes at a societal cost. This paper proposes an alternative knowledge economy index which is grounded in a more holistic and balanced view of a knowledge society. Adopting the perspective of triple bottom line shifts the purpose and design of a knowledge economy from one of aggregation and reporting to action and involvement. The World Bank＇s scorecard and indexing methodology are adaptable to this new perspective and a new set of indicators.展开更多
文摘This research aims to investigate the influence of female directors on Intellectual Capital Performance(ICP)using a sample of manufacturing-listed companies in China.Our study investigates the link between having two or more female directors and the Modified Value-Added Intellectual Coefficient(MVAIC)methodology,employing the critical mass theory from 2004–2017.We find that having a critical mass of female directors(three or more)shows a significant positive impact on MVAIC and its components,including human capital efficiency,structural capital efficiency,relational capital efficiency,and physical capital efficiency,with physical capital being the critical driver.Our study reveals that the critical mass participation of female directors substantially influences the IC efficiency of privately owned companies compared to state-owned companies.Moreover,the number of female directors also affects the IC performance of manufacturing companies in multiple regions.Our findings support the validity of group classification identified by Kanter and Critical Mass Theory.To the best of our knowledge,this is one of the few pieces of research that studies the role of female board directors in IC performance and Chinese manufacturing firms using MVAIC as an IC measure.
文摘This paper templet is copyright by Global Conference on Business and Social Science organized by Global Academy of Training&Research(GATR)Enterprise.Intellectual capital and knowledge are the most important assets of most organizations to ensure that determined or intended strategies can be implemented.The resource-based view of the firm considers the firm as a bundle of tangible resources,intangible resources,and organisational capabilities.An effective IC refers to the critical issues of organisational adaptation,survival and competence in the face of discontinuous environmental change.KM is essential for retaining employees’knowledge within a firm by using appropriate technology and tools to capture and store the knowledge residing in the minds of its employees,so it can be easily shared and reused.There is a growing realisation of the importance of the development and understanding of theory for both Intellectual Capital and Knowledge Management in relation to guide the successful development of Knowledge Management Organisations.This study is fundamental because it will provide the whole picture about the different levels of knowledge;individual,group and organizational,which express internal knowledge(formal and informal knowledge)and external knowledge such as customers and suppliers.The aim of this study is addressed some of the gaps in Intellectual Capital literature.It is necessary to investigate the interactions between IC components in Knowledge management organizations,which include human capital(HC),Organizational capital(OC),and Relational capital(RC).This is important in order to discover the extent to which these factors work together to achieve a network’s knowledge management in organization.
文摘Intellectual capital （IC） is an important source of value for companies. The competitive firm invests in new productive ideas through scientific and technological researches of the human factor and services. The traditional factors of＂old economy＂ based on physical assets have been replaced or at least reinforced, with the belief that the ＂new economy＂ takes its steps mainly through IC. The knowledge workers, at every organizational level, have the knowledge that allows the organization to be competitive and deal with the complexity of the environment by creating intellectual added value. In particular, the proposed analysis consists with an empirical way to show other financial indicators and market-to-book （MTB） value from the perspective of creating value for shareholders based on the dynamics of companies＇ performance, as value-added intellectual capital （VAICTM） is capable of expressing a direct relationship with the return on equity （ROE）. The traditional financial information cannot ensure the high efficiency of a stock market and the need for IC reporting to explain intangible asset contribution in company performance.
文摘We develop a descriptive framework of the components of intellectual capital (IC) in annual reports and investigate the effects of disclosure of IC on market capitalization.We use content analysis to analyze the annual reports of a sample of Fortune 100 listed companies in 2006 announced by Chinese Academy of Social Sciences.We select the 49 listed companies for content analysis of their 226 annual reports over the five-year period of 2001-2005.There is a highly significant and positive correlation between IC disclosure and market capitalization.In china,some high quality listed companies have existed IC information and increased year after year.More and more listed companies disclose their IC information spontaneity in structure capital,customer capital,and human capital,although Ministry of Finance only give the criterion on structure.There exists significant difference between industries when using ICR to analyze the competitive power.
文摘The aim of this paper is to assess the impact of intellectual capital （IC） on firms＇ financial performance with reference to a sample of companies operating in the European Union （EU） area during the period from 2006 to 2013. The analyses are further differentiated by country of domicile, industry sector, and historical period （pre-crisis and crisis）. We investigate whether the value of the components of IC is a relevant factor that influences firms＇ performance, proposing and testing a modified version of the value added intellectual capital （VAICTM） model which also considers country-specific differences in terms of default risk. The empirical results evidence the relevance of the information on IC disclosed by companies. Differences arise depending on the reference country, industry, and historical period examined. The main limitations of the research are the unbalanced structure of the sample among countries and industries and the specificity of the examined sample （listed firms applying IAS/IFRS system）. The main implication of the study is that, since we demonstrate the value relevance of IC, our findings could be of interest for standard setters for defining a standard （qualitative and quantitative） level of information on human resources to be disclosed by companies in their financial statements. Our contribution to the literature is the proposal of some relevant modifications to the original VAICTM model and providing new evidence on the influence that IC had in recent years on business performance in the EU.
文摘The intellectual capital is a main source of competing advantage. Many studies developed measure（s） of intellectual capital of industrial and service firms. Few studies have tried to develop a reliable measure of intellectual capital in audit firms. This study extends the current models to provide more insight into the role of intellectual capital in audit firms. The aim of this study is to develop a quantitative model to measure audit firms＇ intellectual capital. The suggested model can be used to explore the relationship between the intellectual capital in audit firms and audit quality. The model combines the main components of intellectual capital （human capital, structural capital, and relational capital）. The suggested model provides a tool that may help to better manage the intellectual capital in audit firms. As this is a theoretical study, a number of hypotheses are presented for testing in the future.
文摘The broad objective of this study was to establish the moderating effect of corporate culture on the relationship between intellectual capital and organizational performance of firms listed on Nairobi Securities Exchange. The review of literature provided conceptual and empirical gaps that formed the basis of the conceptual hypotheses. Two hypotheses were deduced from general objective： Intellectual capital has a significant influence on corporate performance; corporate culture moderates the relationship between intellectual capital and corporate performance. A cross-section research design was adopted. A survey questionnaire was the main tool of data collection and was distributed to the 50 heads of human resource departments in the different firms＇ period covering four financial years from 2009 to 2012. The study also utilized secondary data obtained from Capital Market Authority Statistical bulletins and Nairobi Securities Exchange Handbook 2012-2013 to collect data on financial performance （ROA, ROE, and Dividend Yield）. Data were tested for reliability results showing that study dimensions were reliable, apart from task-oriented culture that had a Cronbach alpha of 0.262, thus being not considered for further analysis; thus the study relied on employee-oriented culture as a measure of corporate culture. The hypotheses were tested using multiple regression analysis and hierarchical regression respectively. Multiple regression analysis showed that intellectual capital had a significant influence on non-financial performance and no significant influence on financial measures of performance （ROA, ROE, and Dividend Yield）. Test for moderation showed that the interaction term was not significant and thus, employee-oriented culture did not moderate the relationship between intellectual capital and corporate performance. The study demonstrates importance of the influence of intellectual capital on non-financial performance of firms listed on Nairobi Securities Exchange. The results show that interplay among human capital, social capital, and organization capital is important for firms listed on Nairobi Securities Exchange and that the firms should nurture the employees into sharing their knowledge by creating internal and external networks and also creating support system within the organization to retain the knowledge.
文摘Intellectual capital disclosure （ICD） has experienced a substantial increase in recent decades and many frameworks and guidelines have been issued to provide directions with regard to what constitutes ＂good＂ ICD. Companies can use Extensible Business Reporting Language （XBRL） to ＂build＂ their own intellectual capital （IC） reports. This digital format has both technical and operating characteristics suitable for reporting non-financial information. This paper reports the findings of a survey of the views of 37 Italian preparers on the scope, the taxonomy, and the assurance of IC reporting via XBRL. It was found that respondents favor the adoption of an IC reporting framework and the standardization of IC indicators. Preferences reveal uncertainty about the level of flexibility for tagging IC information, while supporting the main benefits of XBRL and indicating a marked inclination for tagged information certified by an independent audit. Overall, despite a low awareness of XBRL, the importance placed on standardization of IC information and on the usefulness of the comparability and the speed attribute of XBRL supports the appealing features of this language for developing IC reporting.
文摘This work investigates the relationship between intellectual capital and value creation in the sector of production and assembly of vehicles and auto-parts in Brazil. Through the access of the database from the annual industrial research conducted by the Brazilian Institute of Geography and Statistics, we gathered 865 observations, from 2000 to 2006, of public and private Brazilian companies with more than 100 employees. The database allows the estimate of relevant aggregated variables such as national accounts, gross domestic product, intermediate consumption, as well as propitiates a sectorial study of business strategies and performance, including value added by individual companies. In particular, in this study we use data on variables associated to intellectual capital. To achieve the goal of the study, we consider intellectual capital as defined by Pulic （2000, 2002）, including human capital and structural capital. For the analysis of business performance, we used Pulic＇s VAIC （Value Added Intellectual Cofficient） index as a measure of efficiency of the employed financial and intellectual capital. Regression models were run to verify the relationship among the efficiency in the use of intellectual capital and the profitability of Brazilian companies. The gross income, calculated as before selling, general and administrative expenses, depreciation expenses, amortization and interest expenses, was used as measure of the flows of value creation and the profitability was measured by the gross income to the total assets of the companies. Considering the constructs defined by Pulic （2000, 2002）, we tested, for the Brazilian sector of Production and Assembly of Vehicles and Auto-parts, the following hypotheses： （l） there is a positive relationship between value creation and intellectual capital, （2） there is a positive relationship between value creation and stock of intellectual capital, （3） there is a positive relationship between value creation and efficiency of the employed capital, （4） there is a positive relationship between value creation and efficiency of the human capital, （5） there is a positive relationship between value creation and efficiency of the structural capital. The results of the study, obtained through panel data analysis and through the use static and dynamic models, support the hypotheses that the intellectual capital of the companies, in its flow and stock dimensions, is positively and significantly related to value creation.
文摘Innovation is one of the main drivers of economic development. In the knowledge economy era, the quickness of technological developments and globalization has changed the structure of business world. Consequently, this situation creates opportunities and also threats for companies. Companies should attach importance to innovation in order to maintain sustainable growth and gain competitive advantage. According to Barsky and Marchat （2000） in the new economy the value of a company is not found with its tangible assets, revenues, financial ratios or market share, but with its intellectual capital, organizational culture, customer loyalty and brand equity. According to resource-based view of the company; the resources are fundamental factors of competitiveness and performance. These resources are regarded as strategic assets, which include tangible and intangible assets. Intellectual capital which is becoming one of the important commercial assets of the 21 st century is a way of describing a company＇s intangible assets that are vital for company success. Intellectual capital consists of human capital, relational capital and structural capital. Intellectual capital which is a core strategical resource of a company is playing a crucial role in a company＇s innovation performance. This study attempts to analyze the interrelationships between intellectual capital and innovation in the context of resource-based view of the company. This study also focuses in particular on the effects of human capital, relational capital and structural capital which are the components of intellectual capital, on innovation by integrating the relevant theoretical and empirical evidence.
文摘The main purpose of this study is to verify the influence of accumulated Intellectual Capital （IC） on the organizational performance of biotechnology companies listed on the Taiwan Stock Exchange, with brand equity being the moderating variable. Financial and marketing section chiefs or employees of higher levels at Taiwan listed biotechnology companies were interviewed, with the companies＇ ROE （return on equity） data obtained from the Taiwan Economic Journal （TEJ） database. While convenience sampling was used to yield knowledge from the population, the linear Structural Equation Modeling （SEM） was adopted to verify the goodness-of-fit effects among the overall model, structural model, and measurement model. Findings from this study show that, at Taiwan listed biotechnology companies, IC accumulation and increased brand equity have significantly interactive influences on organizational performance.
文摘This paper aims to explore the impact of intellectual capital efficiency （ICE） on firm performance in the context of professional football clubs. In particular, our aim is twofold： （1） to provide measures of ICE specifically tailored to professional football businesses; and （2） to empirically investigate whether some dimensions of ICE, namely, human capital and relational capital efficiency, are positively associated with sporting performance, here used as a proxy for business performance. This paper develops a quantitative analysis of club-level panel data using the statistical technique known as mixed-effects linear regression for longitudinal analysis. The research spans a time period of five years and specifically the sporting seasons from 2007/2008 up to 2011/2012. The empirical findings of this study provide tentative evidence that ICE, especially as far as relational capital is concerned, is positively associated with on-pitch performance of professional football businesses. On the counterpart, results for the impact of human capital efficiency （HCE） do not consistently come out with the （positive） expected signs. More specifically, our findings suggest that relational capital efficiency, meaning the ability to develop and nurture positive business relationship with relevant external stakeholders, is a significant consideration for football club managers; on the other, they might shed light on the actual business model of professional football clubs that, in our analysis, does not appear consistent with the long-held hypothesis of winning maximization. The main limitation of this study lies in the fact that our indicators do not fully capture all relevant dimensions of the intellectual capital （IC） construct.
文摘The purpose of this paper is to systematize sport accounting literature with intellectual capital(IC)lenses.Professional sport organizations are knowledge-based institutions,in which the IC plays a central role.IC is a significant driver for value creation for professional sport organizations and it is the expression of their market value.The relevance of IC in professional sport organizations allows us to delve into IC accounting research.Growing but highly fragmented literature focuses on accounting and reporting practices inside professional sport organizations,and analyzes single aspects of IC.As a starting point,we analyze the sport organizations’literature with the aim of investigating the IC value creation process.We then investigate IC accounting and reporting practices and the role of IC disclosure in relation to information transparency.The present work contributes to the extant literature by providing the“state of the art”of sport studies in accounting for IC.It also contributes to the extant literature by offering future avenues for advances in IC accounting research and theories.
文摘The purpose of this paper is to examine the role of knowledge and learning as a dynamic capability that leads to competitive advantage in family firms.It further conceptually develops a model showing the relationship between intellectual capital,firm performance,and dynamic capabilities in family firms.This study highlights knowledge accumulation,knowledge integration,knowledge codification,and the preservation of socioemotional wealth(SEW)as a set of dynamic capabilities.Such capabilities allow a family firm to sense and seize business opportunities and gain competitive advantages.Findings from the case applications reveal that family businesses benefit from the accumulation of knowledge through expertise,skills,and employment of non-family members and having family involvement as important strategic assets that lead to increased value in family firms’performance.
文摘This research aims to provide a Structured Literature Review(SLR)concerning the role of Intellectual Capital(IC)in Integrated Reporting(IR).It analyses papers published in journals from business,management,and accounting area,from 2013 to 2021 with the purpose of pointing out relevant insights about the relationship between IC and IR.Despite that existing literature offers valuable contributions about IC,and the International Integrated Reporting Council included IC related issues among the aims and the fundamentals concepts of IR,this is a topic of growing interest that offers many avenues for further discussion.Analysing past and present literature,this study found that most of the papers use content analysis or a conceptual and critical approach.Moreover,three main paths emerged:about IC disclosure,about IC and IR as a field of research,about a practical concern of IR and IC.Moreover,it tries to frame a future research agenda;particularly,this paper emphasizes the need for further research about the importance of new technologies as they are considered to be the IC of modern organization.
文摘This study delves into the dynamics of green product innovation,artificial intelligence(Al)adaption,and intellectual capital,investigating their impact on the competitiveness of firms in Oman.It emphasizes the crucial role of government intervention and R&D investments in this process.Based on the responses of 214 top managers in Oman,the research employs structural equation modeling to analyze the intricate relationships between these factors.The findings underscore a significant positive correlation between green innovation,Al implementation,and intellectual capital,with government involvement and R&D investments as vital moderators.This study provides a novel perspective on the synergy of technology,innovation,and intellectual capital in developing economies.It offers essential insights for business leaders,policymakers,and scholars,highlighting the necessity of integrating advanced technologies and sustainable practices in business strategies to achieve competitive advantage.The research adds to the existing body of knowledge on innovation and competitiveness.It offers practical implications for enhancing firm performance in Oman and similar emerging markets.
文摘As we are in the knowledge economy, the main purpose of this research is to define the value of relational capital by measuring it with an innovative model. To this end, this paper will explain the meaning of intellectual capital （human capital, structural capital, and relational capital） in the field of knowledge economy and what relational capital is and how we can measure its value. The research is qualitative in nature and was developed through the study of the international literature. The research presents some theoretical evidences that permit defining a method for the evaluation of relational capital. In this direction, the above method will need to have some integration in the future research. Moreover, this approach should consider some empirical evidences to establish the practical value of the method. In fact, the method presented encourages debate and a critical attitude towards the evaluations of relational capital and intellectual capital.
文摘It is a common belief, for the last two decades, that we can observe the transformation of the intemational economy, from industrial to knowledge economy. In a continuous changing economy, the main advantage the companies have is not the buildings, the machines, the trucks, or the total equipment. The strategic key of a company today is the capital that cannot be copied easily, that is not disclosed and is not tangible, the intellectual capital of the company. The intangible assets can be characterized as those without physical appearance and the value of which is limited by the rights and anticipative benefits that possession confers upon the owner. The expansion of companies into foreign markets presupposes the aggregation of financial information that includes non-homogeneous elements. The purpose of this paper is to examine the framework of identification, as well as the disclosure requirements of brand names as they have been set by several articles of Commercial Law and recognized by professional accounting institutions. Emphasis will be given to analyzing existing accounting recognition and measurement, and proposals worldwide. In conclusion, this study indicates the accounting problems of definition, measurement, and disclosure of the majority of these intangible assets to users of financial statements of the company. Despite all the difficulties, this property of the company must in some way be measured and disclosed to lead to more reliable financial statements. The proposals of this paper, will help the accounting community to solve this major problem.
基金This research received financial support from the National Social Science Foundationof China(13AJY004).
文摘Intellectual capital(IC)has become a universal performance indicator for the socioeconomic development of countries and regions.Based on a review ofnational intellectualcapital(NIC)and regional intellectualcapital(RIC)evaluation literature,we used the regional intellectualcapitalindicator(RICI)as a model for China’s RIC evaluation to indirectly understand China’s potential economic growth drivers.Specifically,we collected statisticaldata of31 provinces(including municipalities and autonomous regions)in China from 2004 to 2016to measure RICI and analyze its dynamic characteristics from temporal and spatial perspectives.In this paper,Delphi analysis was used to construct RICI model,and cluster analysisand exploratory spatial data analysis were used to analyze the temporal and spatial characteristics of RICI in China.The results showedthat RICI,which represents China’s overall economic growth drivers,increases annuallyand is consistent with economic developmentlevelduring the study period.Regarding the geo-spatial space,RICI follows the trend of“high in the east and low in the west”,gradually decreasing from eastern to western China.ForRIC structure,the shape of the radar chart of IC structure located in the eastern coastal areas is usually biased towards strong external relational capital,while that in western China is generally biased towards structural capital.For spatial correlation,China’s RICI has dependence on geographical adjacent space and economic space.Our research can provide policy suggestions for the sustainable development of regional economy from an IC perspective.
文摘The application of knowledge is a primary source of growth in the knowledge economy. The World Bank Group has developed a rigorous assessment methodology for assessing a country＇s ability to access and use knowledge to become more competitive in the knowledge economy of the 21st century. The World Bank＇s annual knowledge economy index is grounded on a four-pillar model： （1） economic incentives and institutional regime; （2） education and skills; （3） information and communication infrastructure; and （4） innovation systems. An argument can be made that the model lacks coverage of some key factors that pertain to intellectual capital and the production and consumption of knowledge. The model＇s heavy focus on economic incentives and open institutional regimes comes at a societal cost. This paper proposes an alternative knowledge economy index which is grounded in a more holistic and balanced view of a knowledge society. Adopting the perspective of triple bottom line shifts the purpose and design of a knowledge economy from one of aggregation and reporting to action and involvement. The World Bank＇s scorecard and indexing methodology are adaptable to this new perspective and a new set of indicators.
