Purpose This study aims to examine intellectual capital disclosure (ICD) on Twitter by 60 of the world’s largest companies and explains the main themes communicated to stakeholders. The second objective is to determine which topics provoke most stakeholders’ reactions. Design/methodology/approach The authors perform content analysis on more than 42,000 tweets to examine ICD practices along with the reactions of stakeholders in the form of retweets and “favorites” toward the information disclosed. Findings Intellectual capital (IC) is an important theme in corporate disclosure practices, as more than one-third of the published tweets refer to IC. The world’s largest companies focus on relational capital information, followed by human and structural capital. The main IC themes disclosed were management philosophy, corporate reputation and business partnering. Tweets related to IC are of greater interest to stakeholders than other tweets and provoke more reactions. There is no complete consistency between the topics most intensively disclosed by companies and those that elicit the most vivid responses from the addressees. Practical implications This study offers an understanding of the world’s largest companies’ practices that refer to ICD via social media and has implications for organizations in the creation and use of communication channels when developing a dialogue with stakeholders on topics regarding IC that may lead to better management of IC performance. Originality/value This paper is a response to the call for studies on ICD via social media, which is strongly highlighted in the recent literature concerning future research on IC and until now was almost absent in the field of business units. This research provides in-depth insights into the use of Twitter to disclose IC elements and indicates which fields and topics of this disclosure provoke stakeholders’ reactions, which is a novelty in ICD studies.
The importance of human capital in the contemporary business environment is rising. Therefore, the aim of the study is to determine what the quality, extent and determinants of human capital disclosure in Polish and German companies are. Research Design & Methods: The research was conducted with the use of human capital disclosure index which was built with three main categories: employee information, internal communication and employee development policy. The sample consisted of WIG-30 and DAX entities. Findings: The Polish firms reported worse than the German ones in terms of all studied items. The worst reporting was found in the case of participation initiatives, the best in the case of employment structure. Implications & Recommendations: As human capital disclosure index was insufficient in the case of both Polish and German entities, enterprises shall report more on human capital. Contribution & Value Added: The study compares human capital disclosure practices in the two countries with a different level of economic development. Article type: research paper
In the knowledge-based economy, long-term corporate performance and its competitive advantage are strongly associated with human capital. Theoretical deliberations suggest that companies with greater human capital orientation (higher salaries and benefits, more training, a transformational leadership style, better equipment) might perform better than their peers with less human capital orientated strategy due to: higher skills of employees, greater motivation and thus higher overall corporate effectiveness. On the other hand, orientation towards human capital generates higher costs which may negatively affect profitability and stock market valuation. There are two aims of this paper. The first one is to state whether human capital orientated firms generate positive financial performance. The second aim is to compare financial performance of human capital orientated firms with the benchmarking sample to state if the financial performance is above-average. Research was conducted on a sample of 7,204 unique publicly listed companies from the American stock market within a ten year period (72,040 firm-year observations). Empirical studies were carried out with the help of one hypothesis. Two groups of companies were created and their results on financial performance were compared. The first group consisted of human capital orientated firms that were identified with the help of the well-known 100 Best Companies to Work For listing, in line with the Edmans (2009) approach. The second group composed of US-based publicly listed entities from 11 industries. Analysis was conducted for the 2007-2017 years. The key findings of the paper are: strategy based on human capital orientation provides high profitability and leads to above-average financial performance, mainly in the field of equity growth and stock market valuation. The paper has significant practical implications for investors in terms of possible directions of stock market investments aimed at achieving above-average returns as well as for corporate management by indicating that human capital orientation pays off. The paper fills the research gap between two points. First, it states in which financial performance pillars human
The aim of this article is to determine the current state of impact of various forms of intangible assets on the internationalization process. For the purpose of the paper meta-analysis was adopted as a method of the study. English-language peer-reviewed journal articles were analyzed only with the help of: EBSCOhost, ScienceDirect, Emerald, JSTOR, ProQuest and Wiley Online databases. The search was aimed at newest papers (after 2012), however some older articles (with regard to their value) were included in the analysis as well. Based on the conducted analysis, there was observed a significant and positive link between the level of employee education and internationalization probability and extent. The effect of the wages on internationalization is stage dependent. Under certain assumptions there is a positive and strong relationship between R&D intensity and internationalization. Advertising spending do not foster the process of internationalization. The practical contribution of this research is twofold. First, it provides valuable insight for practitioners which intangible assets and how foster various modes of the internationalization process. Second, it describes upon which conditions the interrelation between firm intangible assets and internationalization is significant and positive.
It is increasingly essential for companies to communicate appropriately about sustainability. In today’s world, with the massive spread of social media’s popularity as a critical communication channel, sustainability is also present in the Internet disclosure practices of many enterprises. It is also presumed that firms’ intellectual capital (IC) plays a vital role in the quality of corporate disclosure. Our paper aims to explore to what extent disclosure practices of firms via social media fulfill the needs of stakeholders for information related to sustainability. We also test how IC impacts this disclosure. We analyze tweets of the world’s largest energy industry companies to assess if this disclosure meets the stakeholders’ expectations regarding sustainability topics. Using a common measure of IC, we also check whether its level determines sustainability disclosure. This study provides several contributions to the literature. The findings may help understand companies’ responsiveness to sustainability information needs. The chief contribution also lies in its focus on how the IC level influences the sustainability disclosure practices via social media. The findings may have implications for organizations in creating and using social media channels when developing a dialogue with stakeholders on topics regarding sustainability. Conclusions also provide new insight on IC’s importance in corporate disclosure practices on sustainability.
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