scholarly journals Exploring the Nonlinear Effect of Intellectual Capital on Financial Performance: Evidence from Listed Shipping Companies in China

Complexity ◽  
2021 ◽  
Vol 2021 ◽  
pp. 1-12
Author(s):  
Jian Xu ◽  
Yi Zhang
Keyword(s):  
Financial Performance ◽  
Intellectual Capital ◽  
Nonlinear Effect ◽  
Driving Force ◽  
Value Added ◽  
Physical Capital ◽  
Financial Sustainability ◽  
Return On Assets ◽  
Corporate Managers ◽  
Structural Capital

Intellectual capital (IC) is reckoned as a significant driving force of competitive advantage and financial sustainability of any organization. The study’s objective is to explore the nonlinear effect of IC and its components on financial performance (FP) of China’s listed shipping companies over a six-year period (2014–2019). The modified Value Added Intellectual Coefficient (MVAIC) model is used to systematically assess IC. The empirical results show an inverted U-shaped relationship between the aggregate IC and FP (measured through return on assets). Regarding IC components, human, relational, and innovation capitals have an inverted U-shaped relationship with FP, while the quadratic relationship between structural capital and FP is not significant. In addition, physical capital has a U-shaped relationship with FP. This study will offer some new insights for corporate managers to improve firms’ FP by effectively utilizing their IC resources.

scholarly journals Peran intellectual capital terhadap market to book value dan return on assets dengan research and development sebagai pemoderasi

2020 ◽  
Vol 9 (2) ◽  
pp. 297
Author(s):  
Pandu Alvi Baskoro ◽  
Suratno Suratno ◽  
Syahril Djaddang
Keyword(s):  
Research And Development ◽  
Financial Performance ◽  
Intellectual Capital ◽  
Stock Exchange ◽  
Value Added ◽  
Market Value ◽  
Physical Capital ◽  
Book Value ◽  
Structural Capital ◽  
Corporate Resources

This study aims to support the role of Research and Development on Intellectual Capital on market value (MtBV) and corporate financial performance (ROA).  Using the Pulic model - Intellectual Value Coefficient (VAIC), this study examines the relationship between value added (VAIC) of the three main corporate resources (ie Physical Capital, Human Capital and Structural Capital), the company's market value (MtBV) and corporate finance ( ROA), and also Research and Development (R&D).  The data is gathered from 43 selected banking companies listed on the Indonesia Stock Exchange in 2013-2017.  Data analysis uses multiple regression.  The results show that Intellectual Capital (VAIC) does not affect to market value (MtBV), but the compilation of Intellectual Capital (VAIC) developed by Research and Development (R&D) as full moderation can support market value.  Intellectual Capital (VAIC) affects financial performance (ROA), as well as Intellectual Capital (VAIC) supported by Research and Development (R & D) as a quasi-moderation which also strengthening the financial performance (ROA).Keyword : Intellectual Capital (IC), Market to Book Value (MtBV), Financial Performance (ROA), Research and Development (R&D).

scholarly journals Impact of Intellectual Capital on Corporate Performance

2020 ◽  
Vol 5 (6) ◽  
Author(s):  
Sedeaq Nassar
Keyword(s):  
Financial Performance ◽  
Intellectual Capital ◽  
Data Model ◽  
Value Added ◽  
Return On Assets ◽  
Return On Equity ◽  
Firm Financial Performance ◽  
Structural Capital ◽  
Capital Efficiency ◽  
The Relationship

The main objective of current study is to investigate the relationship between intellectual capital and corporate financial performance of 34 from 48 companies listed on Palestine Exchange (PEX) over the period of 2012-2018. Pulic’s method “Value Added Intellectual Coefficient (VAIC)” is utilized to measure the Intellectual Capital (IC), and three of traditional accounting tools involving; return on equity (ROE), return on assets (ROA), and earning per share (EPS) ratios is used as a proxy of firm financial performance. The findings of Panel data model show that human capital efficiency (HCE) is consider as the most effective element of intellectual capital in the issue of value creation than structural capital and capital employed. Moreover, VAIC shows a good relationship with financial performance represented by return on assets (ROA). In conclusion, Palestinian listed companies are still weakly used its intellectual capital' potentials in create value.

scholarly journals Impact of Intellectual Capital on Financial Performance of Banks in Tanzania

2015 ◽  
Vol 1 (1) ◽  
pp. 17-24 ◽  
Author(s):  
Janeth N. Isanzu
Keyword(s):  
Human Capital ◽  
Financial Performance ◽  
Intellectual Capital ◽  
Value Added ◽  
Physical Capital ◽  
Annual Reports ◽  
Balance Sheets ◽  
Structural Capital ◽  
Knowledge Based Economy ◽  
Capital Efficiency

Since the financial sector reforms took place in the last two decades, Banks in Tanzania have continued to play the major role in reshaping the economy of the nation. With the emergence of knowledge based economy many firm have changed their way of doing business instead of relying more on physical capital they have shifted to intellectual capital. This is no exception for the banks operating in developing counties Tanzania included. Many studies have been done in the area of intellectual capital and its contribution to the value of the firm. This study sets out to extend the evidence by investigating the intellectual capital of banks operating in Tanzania for the period of four years from 2010 to 2013. Annual reports, especially the profit and loss accounts and balance sheets of the selected banks have been used to obtain the data. The study uses Value Added Intellectual Capital model (VAICTM) in determining intellectual capital and its three major components like Human Capital Efficiency (HCE) Structural capital efficiency (SCE) and Capital Employed Efficiency (CEE). The results revealed that Intellectual capital has a positive relationship with financial performance of banks operating in Tanzania and also when the VAICTM was divided into its three components it was discovered that the financial performance is positively related to Human capital efficiency and Capital employed efficiency but is negatively related to Structural capital efficiency.

INTELLECTUAL CAPITAL TERHADAP KINERJA KEUANGAN PERUSAHAAN FARMASI DI INDONESIA

2019 ◽  
Vol 5 (1) ◽  
pp. 31-38
Author(s):  
Diana Sriwahyuni ◽  
Sigit Hermawan ◽  
Nur Ravita Hanun
Keyword(s):  
Financial Performance ◽  
Pharmaceutical Company ◽  
Intellectual Capital ◽  
Stock Exchange ◽  
Value Added ◽  
Profit Margin ◽  
Return On Assets ◽  
Structural Capital ◽  
Net Profit ◽  
Independent Variable

This study aims to analyze the effects of Intellectual Capital to  Financial Performances of Pharmaceutical Company. Independent variable in this study is Intellectual Capital . Intellectual Capital which consist of Human Capital (HC), Structural Capital (SC), and the Capital Employed which uses a method Value Added Intellectual Coefficients (VAICTM.). Financial Company’s Performance is proxied by Return On Assest (ROA) and Net Profit Margin (NPM). This research samples are pharmaceutical company in the Indonesia Stock Exchange in 2011- 2015. Samples were collected by purposive sampling method and resulted in 7 firms as the samples. This study used simple linear regression to analyze data. The results of this study indicate that intellectual capital (IC) has effect on variable financial performance Return On Assets (ROA) and intellectual capital (IC) has effect on variable financial performance Net Profit Margin (NPM).

scholarly journals Does Intellectual Capital Measurement Matter in Financial Performance? An Investigation of Chinese Agricultural Listed Companies

Agronomy ◽  
2021 ◽  
Vol 11 (9) ◽  
pp. 1872
Author(s):  
Jian Xu ◽  
Yi Zhang
Keyword(s):  
Financial Performance ◽  
Intellectual Capital ◽  
Driving Forces ◽  
Positive Impact ◽  
Value Added ◽  
Physical Capital ◽  
Return On Assets ◽  
Return On Equity ◽  
Relationship Of ◽  
Innovation Capital

Intellectual capital (IC) has become a crucial strategic resource in the knowledge economy. The purpose of this study is to understand the IC-financial performance relationship of listed Chinese agricultural companies. This paper uses the original value added intellectual coefficient (VAIC) model, the adjusted VAIC (AVAIC) model, and the modified VAIC (MVAIC) model to measure IC. The results show a positive and significant relationship between IC and financial performance (return on assets and return on equity) in three models. Additionally, human capital and physical capital are two major driving forces. In the AVAIC model, innovation capital exerts a positive impact on financial performance, whereas this impact is not significant at the 5% level in the MVAIC model. The results suggest that further improvements in IC measurement are still needed. This study has important implications for both academia and industry regarding IC measurement.

scholarly journals Pengaruh Intellectual Capital (IC) terhadap Financial Performance Pada Perusahaan Sektor Perbankan yang Terdaftar di Bursa Efek Indonesia

2018 ◽  
Vol 3 (1) ◽  
Author(s):  
Abdul Salam
Keyword(s):  
Financial Performance ◽  
Intellectual Capital ◽  
Banking Sector ◽  
Value Added ◽  
Fixed Effect Model ◽  
Fixed Effect ◽  
Return On Assets ◽  
Structural Capital ◽  
Effect Model ◽  
Capital Value

ABSTRAK Penelitian ini bertujuan untuk menguji pengaruh intellectual capital terhadap financial perforrmance perusahaan di sektor perbankan di Bursa Efek Indonesia periode 2010 sampai 2014 dengan menggunakan data panel. Intellectual Capital di proksikan dengan metode value added  intellectual coefficient (VAIC™) dengan komponennya value added human capital (VAHU), value added capital employe (VACA), dan structural capital value added (STVA) digunakan untuk mengukur nilai dasar kinerja bank, sedangkan Financial Performance di proksikan dengan return on assets (ROA). Alat analisa yang digunakan adalah regresi  liner multivariabel dengan penerapan metode model Fixed Effect dengan sampel dari 24 bank dengan purposive sampling, berdasarkan hasil test Chow, Test Hausman, Test Lagrange Multiplier (LM) maka penelitian ini mengunakan prosedur Model Fixed Effect. Hasil penelitian ini menununjukkan bahwa STVA dan VAIC™ berdampak positif dan signifikan terhadap ROA. Sedangkan VACA dan VAHU berpengaruh positif  dan tidak signifikan terhadap ROA. Hasil Uji F (Simultan) besarnya nilai Adjusted R-squared yaitu 0.381370 yang berarti bahwa variasi variabel ROA dapat dijelaskan oleh variabel VAHU, VACA dan STVA adalah sebesar 0.381370 atau sebesar 38.1370% sedangkan sisanya sebesar 61.827 % dijelaskan oleh faktor-faktor lain yang tidak terdapat dalam penelitian ini.   Keyword : Intellectual Capital, Financial Performance, Fixed Effect Model, Banking Sector  

scholarly journals Pengaruh Intellectual Capital terhadap Kinerja Keuangan pada PT. Bank Rakyat Indonesia dan PT. Bank Negara Indonesia

2021 ◽  
Vol 5 (2) ◽  
pp. 476
Author(s):  
Amilia Paramita Sari
Keyword(s):  
Human Capital ◽  
Intellectual Capital ◽  
Value Added ◽  
Physical Capital ◽  
Added Value ◽  
Return On Assets ◽  
Structural Capital ◽  
Physical Assets ◽  
Positive Effect ◽  
Capital Value

This research aims to test the influence of intellectual capital on the performance of the company. Intellectual Capital is measured by the VAIC method which has three variables namely Value Added Capital Employed, Value Added Human Capital and Structural Capital Value Added, while the company's performance is measured using Return on Assets. This study uses PT. Bank Rakyat Indonesia and PT. Bank Negara Indonesia data during the period 2015-2020. The analysis method used is regression analysis. The results of this study prove that only Value Added Human Capital and Structural Capital Value Added have a significant positive effect on Return on Assets. The Value Added Capital Employed has no effect on Return on Assets. This shows that PT. Bank Rakyat Indonesia and PT. Bank Negara Indonesia still rely on their physical assets as measured by physical capital followed by human capital in creating added value for the company which ultimately has an impact on improving bank performance.

scholarly journals EFEK LANGSUNG DAN MODERASI ANTARA INTELLECTUAL CAPITAL DENGAN PRODUCTIFITY DAN PROFITABILITY DI BURSA EFEK INDONESIA

2019 ◽  
Author(s):  
Akbar Yusuf ◽  
Darwis Said ◽  
Mediaty
Keyword(s):  
Human Capital ◽  
Financial Performance ◽  
Intellectual Capital ◽  
Negative Relationship ◽  
Value Added ◽  
Physical Capital ◽  
Least Square ◽  
Linear Regression Models ◽  
Structural Capital ◽  
Positive Effect

Intellectual capital as a resource to drive the company has recognized the value and comparative advantages of the company. This study aims to examine the direct and moderating effects of intellectual capital relationship with financial performance. The study was conducted at the Indonesian Stock Exchange using secondary data to test the hypothesis with pooled least square method. Sampling was done by purposive sampling produced 63 observations using 2009 to 2011. The main variable in this study is the financial performance (productifity and profitability) as the dependent variable, and intellectual capital (human capital, structural capital, physical capital), and the interaction of human capital with structural capital as an independent variable, which is controlled by Size and Leverage. Data analysis and testing each hypothesis using descriptive statistics and multiple linear regression models. The study proves that, human capital fails to explain both the use of accounting performance measures. Structural capital has a positive effect on profitability, but failed in conjunction with productifity. Physical capital proven positive effect on both measures of financial performance. Serve as structural capital moderation failed to moderate the relationship of human capital profitability. On the other hand, structural capital can be a moderating variable in a negative relationship with the human capital productifity. Therefore concluded that in general investors and companies give more to the assessment of physical and financial capital of the human capital and structural capital, which may result in lack of competitiveness of enterprises in a sustainable manner. Keywords: intellectual capital, value added, effect moderating, Indonesian

scholarly journals PENGARUH INTELLECTUAL CAPITAL TERHADAP KINERJA KEUANGAN PERUSAHAAN SEKTOR PERTAMBANGAN DI BURSA EFEK INDONESIA

2019 ◽  
Vol 8 (9) ◽  
pp. 5702
Author(s):  
Maulana Hidayat ◽  
I Made Dana
Keyword(s):  
Human Capital ◽  
Financial Performance ◽  
Intellectual Capital ◽  
Stock Exchange ◽  
Value Added ◽  
Return On Assets ◽  
Mining Sector ◽  
Regression Methods ◽  
Structural Capital ◽  
Capital Efficiency

The value of the company's resources can be measured using Intellectual Capital. A company can measure the value added by the company through the company's resources by using Intellectual Capital. This study aims to examine and analyze the influence of independent variables Human Capital Efficiency (HCE), Structural Capital Efficiency (SCE) and Capital Employed Efficiency (CEE) on the dependent variable, Return on Assets (ROA). Population in this study are mining sector companies in the Indonesia Stock Exchange. The research sample used a purposive sampling method to obtain 41 mining sector companies in the Indonesia Stock Exchange for the period 2016-2017 that met the research criteria. Data that has been collected will be analyzed using multiple linear regression methods and classical assumption tests. The study found that HCE and SCE had no effect on ROA, whereas CEE had a positive effect on ROA. This shows the factors that influence the financial performance of mining sector companies capital employee of the company. The manager of the mining sector company is expected to be able to increase the use of human capital and structural capital in the company's operations to increase its influence on the company's financial performance. Keywords: financial performance; intellectual capital; return on assets

Influence of Intellectual Capital on Performance

2021 ◽  
Vol 12 (2) ◽  
pp. 53-71
Author(s):  
Kanishka Gupta ◽  
T. V. Raman
Keyword(s):  
Financial Performance ◽  
Intellectual Capital ◽  
Value Added ◽  
Dynamic Panel Data ◽  
Return On Assets ◽  
Time Period ◽  
Panel Data Regression ◽  
Data Regression ◽  
Developed World ◽  
The Impact

Intellectual capital (IC) has gained recognition in enhancing the firms' value and gain a competitive advantage in the developed world. The present study examines the impact of IC on firms' financial performance. The study takes 48 companies for the time period of 10 years (2009-2018). The paper has used modified Pulic's value added intellectual coefficient (VAIC) as a proxy to measure IC and return on assets (ROA) to measure firms' financial performance. Granger causality between all the components of IC and ROA has been tested using Dumitrescu-Hurlin test. To analyse the impact, correlation and dynamic panel data regression technique has been applied. The result indicates that overall intellectual capital, human capital, relational capital, process capital, and financial capital have a significant impact on financial performance. On the other hand, innovation capital has no significant relationship with firms' financial performance. The results are helpful for managers, policymakers, government, and investors so that they can properly manage and regulate the IC of their organization.

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