Intellectual capital and firm performance: an extended VAIC model

Bayraktaroglu, Ayse Elvan; Çalışır, Fethi; Baskak, Murat

doi:10.1108/jic-12-2017-0184

Cited by 223 publications

(363 citation statements)

References 62 publications

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“…HC is correlated with employees' knowledge, skills, satisfaction, and motivation [24,27,28]. HC is a fundamental asset in an organization [29,30]. HC also includes the competence and knowledge that the cooperation of employees or divisions has brought up [31].…”

Section: Ic and Its Componentsmentioning

confidence: 99%

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Intellectual Capital, Technological Innovation and Firm Performance: Evidence from China’s Manufacturing Sector

Shang

Wang

et al. 2019

Sustainability

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Intellectual capital (IC) is considered to be a main driver of organizational success in the knowledge economy. This study examines the impacts of three IC components, including human capital (HC), structural capital (SC), and relational capital (RC), on technological innovation and firm performance. Data are collected from 1112 manufacturing listed companies in China during 2013–17. Using partial least squares structural equation modeling (PLS-SEM), the results show that HC and SC exert a positive impact on firm performance while RC has a negative impact; SC has a positive influence on technological innovation while HC has a negative influence; technological innovation can enhance the firm’s performance. In addition, technological innovation partially mediates the relationship between SC and firm performance. This study will bridge the gap in research by investigating the impacts of IC components on technological innovation and firm performance in developing countries.

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Section: Ic and Its Componentsmentioning

confidence: 99%

“…For the dependent variable, firm performance is measured with return on assets (ROA), consistent with previous literature [1,5,6,22,23,30,41,42,79]. ROA measures how efficiently a firm utilizes and manages its assets to produce profits during a certain period.…”

Section: Variable Measurementmentioning

confidence: 99%

Intellectual Capital, Technological Innovation and Firm Performance: Evidence from China’s Manufacturing Sector

Shang

Wang

et al. 2019

Sustainability

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“…As also suggested by Bayraktaroglu, Calisir, F., and Baskak [32], the long-term survival of a firm and its performance relies also upon how it invests and improves its structural capital. The idea of structural capital has a variety of implications for an organization.…”

Section: The Development Of the Hypothesis: The Role Of Structural Camentioning

confidence: 77%

“…In this paper, the value added intellectual coefficient (VAIC) method developed by Pulic [31] and Bayraktaroglu et al [32] is used to measure the structural capital, because his model assigns explicit economic values to human capital (HC) and structural capital (SC) in order to generate a VAIC index. The VAIC is also often adopted to investigate the performance of individual companies.…”

Section: Method: Independent Variablesmentioning

confidence: 99%

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Does Structural Capital Affect SDGs Risk-Related Disclosure Quality? An Empirical Investigation of Italian Large Listed Companies

et al. 2020

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In a context of widespread acceptance and implementation of the United Nations Sustainable Development Goals (SDGs), this paper discusses the possible relationship between intellectual capital (IC) and nonfinancial information (NFI), particularly related to SDGs and corporate social responsibility (CSR) in a stakeholder engagement perspective. Prior studies called for further investigation about nonfinancial risk disclosure and claimed that companies mandated to disclose risk-related information tend to focus mainly on financial risks. Therefore, given the growing attention of regulators to the content of mandatory companies' NFI brought to the Directive 2014/95/EU, this study intends to contribute to fill this literature gap by investigating the drivers of risk-related disclosure quality (RDQ) and to what extent it could be affected by the structural capital (SC), as one of the components of IC. The empirical analysis is based on a sample made of 51 Italian large undertakings and groups. The study uses content analysis to assess the RDQ from firms' corporate reports. Regression analysis is used to examine if there is an influence of SC toward RDQ, both considered as a single information package and with specific reference to environmental disclosure. Results reveal that a positive association exists between RDQ and SC. Moreover, it is providing some support for the positive correlation between SC and the firm's size. In this sense, the paper contributes to existing risk reporting literature as a pioneering study identifying an IC driver to determine the quality of risk and risk management information. For regulators, this study highlights how, in a context of mandatory disclosure, the quality of information could also depend on firm characteristics (SC). For practitioners, the paper helps in understanding the role of IC in order to increase the quality of the corporate risk reporting.

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Can intellectual capital contribute to financial and non‐financial performances during normal and crisis situations?

Lestari

Adhariani

2022

Bus Strat Dev

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The contribution of intellectual capital (IC) on financial performance have been found in previous studies but whether IC can also be utilised to improve non‐financial performance has been understudied; let alone the contributions in different economic conditions (normal and crisis periods). This study aims to provide empirical findings to answer these issues by defining non‐financial performance in terms of the environmental, social, and governance (ESG) performance and COVID‐19 pandemic to represent the crisis. Non‐financial companies listed on stock exchanges in the Southeast Asia countries that are member of ASEAN (Association of Southeast Asian Nations) were selected as the samples for the research period of 2016–2020. The results show that the IC has a positive association with financial performance but a negative relationship with ESG performance. With the COVID‐19 pandemic as the moderating variable, the results show that the pandemic period is not found to moderate the effect of the IC on financial performance and ESG performance. These results indicate that under normal conditions prior to the economic crisis caused by COVID‐19, companies in Southeast Asia prioritised the use of IC to improve financial performance. Meanwhile, during the COVID‐19 pandemic, companies in the region have not utilised IC to improve their financial and non‐financial performance. The findings that IC affect ESG performance negatively need a serious attention amid the increasing awareness of sustainability and the expected role of corporate in the achievement of the Sustainable Development Goals (SDGs).

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Intellectual capital and firm performance: an extended VAIC model

Cited by 223 publications

References 62 publications

Intellectual Capital, Technological Innovation and Firm Performance: Evidence from China’s Manufacturing Sector

Intellectual Capital, Technological Innovation and Firm Performance: Evidence from China’s Manufacturing Sector

Does Structural Capital Affect SDGs Risk-Related Disclosure Quality? An Empirical Investigation of Italian Large Listed Companies

Can intellectual capital contribute to financial and non‐financial performances during normal and crisis situations?

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