The impact of corporate governance on intellectual capitals efficiency in Iran

Dashtbayaz, Mahmoud Lari; Salehi, Mahdi; Mirzaei, Alieyh; Nazaridavaji, Hamideh

doi:10.1108/imefm-11-2017-0291

Cited by 25 publications

(20 citation statements)

References 72 publications

(80 reference statements)

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“…Profitable firms not only disclose more information to their investors about their proper performance, thereby improving the IE (Wallace et al, 1994;Liao, 2009) but also are expected to have more transparent information and stronger IE. In the present research, the return of equity (ROE) was used to compute the profitability of firms (Lari Dashtbayaz et al, 2020). Financial leverage (LEV) is usually defined as dividing total debt by total assets at the end of the fiscal year (Amin and Hamdan, 2018;Lari Dashtbayaz et al, 2020).…”

Section: Control Variablesmentioning

confidence: 99%

“…In the present research, the return of equity (ROE) was used to compute the profitability of firms (Lari Dashtbayaz et al, 2020). Financial leverage (LEV) is usually defined as dividing total debt by total assets at the end of the fiscal year (Amin and Hamdan, 2018;Lari Dashtbayaz et al, 2020). Regarding liquidity crisis and the necessity for external financing, firms disclose their information voluntarily to improve their IE (Karamanou and Vafeas, 2005).…”

Section: Control Variablesmentioning

confidence: 99%

See 1 more Smart Citation

Financial reporting quality and firms’ information environment: a case of Iranian firms

Pitenoei

Gerayli

Abdollahi

2021

IMEFM

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Purpose The purpose of this study is to investigate the relationship between financial reporting quality and information environment (IE) in firms listed on the Tehran Stock Exchange (TSE). Design/methodology/approach In this study, composite measures were used as the proxy to measure financial reporting quality and IE. In this regard, a sample of 1,490 firm-year observations of the firms listed on the TSE during the years 2008 to 2017 and a multivariate regression model was used to examine the research hypothesis. Findings Findings indicate that financial reporting quality has a positive relationship with firms’ IE. This result is robust to the alternate measure of financial reporting quality and endogeneity problem. Originality/value The present study is the first study to develop a composite measure for the firms’ IE in the Iranian capital market. As a result, it not only expands the theoretical literature on the firms’ IE but also helps policymakers, regulators, investors and financial reporting users make informed decisions.

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Section: Control Variablesmentioning

confidence: 99%

Section: Control Variablesmentioning

confidence: 99%

Financial reporting quality and firms’ information environment: a case of Iranian firms

Pitenoei

Gerayli

Abdollahi

2021

IMEFM

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“…Naseem et al [39] find that CEO characteristics like age, gender, and education significantly affect firm financial decisions and firm performance. Lari Dashtbayaz et al [40] show a positive relationship between board independence and human capital. However, they found a negative and significant link between audit committee size and human capital.…”

Section: Firm Improvement and Intellectual Capitalmentioning

confidence: 97%

The Effect of Intellectual Capital and Board Characteristics on Value Creation and Growth

Salehi

Zimon

2021

Sustainability

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The present study evaluates the relationship between intellectual capital and corporate board characteristics on value creation and growth. Different work experiences and education were two indexes of intellectual capital, and gender diversity was the only characteristic of board members. The study’s statistical population includes companies listed on the Tehran Stock Exchange during 2012–2018. Panel data regression models were employed to elucidate the relationship between research variables. The obtained results indicated that the intellectual capital of the board members of companies listed on the Tehran Stock Exchange does not affect companies’ value and growth. According to the results, appointing female managers should not be dependent on firm growth because gender diversity does not affect the value creation and growth of companies listed on the Tehran Stock Exchange.

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“…Their results suggest a significant association between IC and the financial profitability of the companies except the SCE. In another study on companies in Tehran Stock Exchange, Dashtbayaz et al (2020) examine the subject from a different perspective and focus on the relationship between IC and corporate governance which is measured as size, independence and financial expertise. Their findings show that while human capital, a component of VAIC, has a positive relation with board independence and a negative relation with audit committee size, structural capital, another component of VAIC, has positive and negative relations with committee independence and audit size, respectively.…”

Section: Literature Reviewmentioning

confidence: 99%

The role of intellectual capital in financial development: evidence from the banking sector of Turkey

Uslu

2020

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Purpose The objective of this study is to explore and compare intellectual capital (IC) and its three components in deposit, investment and participation banks operating in Turkey’s banking sector, and to analyze empirically the relationship between intellectual capital and financial performances of the banks. Design/methodology/approach The study uses a panel data of 46 banks operating in the Turkish banking system during the period of 2005–2019. To measure intellectual capital, value-added intellectual coefficient (VAIC) is used, consisting of the efficiency of a firm’s three types of capital – that is human, structural and employed capitals. To examine the proposed research hypotheses for each bank type separately, multiple regression analysis methods are used. Findings The findings of this paper reveal a positive and statistically significant relationship between IC and financial performance of the banks. Specifically, two of the components of IC, namely, employed and human capital efficiencies, are the most influential value drivers for the financial profitability of the banks, whereas structural capital efficiency has less importance in the profitability of the banks. The financial performance of the banks in Turkey is affected mostly by human capital. Therefore, if banks plan to increase their profitability, they need to pay more attention to human capital than structural and employed capitals. Originality/value The current study can be considered as one of the most comprehensive studies on analyzing the relationship between intellectual capital and financial performances of businesses in the Turkish banking sector. The previous studies analyzed either the banks individually or all banks as one group. The paper provides a valuable framework for executives, managers and policymakers in managing IC within the Turkish context as the most comprehensive study in the relevant literature.

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The impact of corporate governance on intellectual capitals efficiency in Iran

Cited by 25 publications

References 72 publications

Financial reporting quality and firms’ information environment: a case of Iranian firms

Financial reporting quality and firms’ information environment: a case of Iranian firms

The Effect of Intellectual Capital and Board Characteristics on Value Creation and Growth

The role of intellectual capital in financial development: evidence from the banking sector of Turkey

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