scholarly journals Does Intellectual Capital Investment Improve Financial Competitiveness and Green Innovation Performance? Evidence from Renewable Energy Companies in China

2021 ◽  
Vol 2021 ◽  
pp. 1-13
Author(s):  
Shuang Liu ◽  
Qi Yu ◽  
Liang Zhang ◽  
Jian Xu ◽  
Zhenji Jin
Keyword(s):  
Renewable Energy ◽  
Intellectual Capital ◽  
Capital Investment ◽  
Negative Impact ◽  
Value Added ◽  
Innovation Performance ◽  
Green Innovation ◽  
Energy Companies ◽  
The Impact ◽  
Financial Competitiveness

This paper aims to investigate the impact of intellectual capital (IC) and its components on financial competitiveness and green innovation performance. The data are collected from renewable energy companies listed on the Shanghai and Shenzhen stock exchanges during 2013–2018. The modified Value Added Intellectual Coefficient (MVAIC) model is applied as a proxy for IC efficiency, an index system is constructed to systematically measure financial competitiveness, and green innovation performance is measured by the total number of green patents, the number of green invention patents, and the number of green noninvention patents. The empirical results show that IC has an inverted U-shaped relationship with financial competitiveness and no impact on green innovation performance. Regarding IC components, human capital (HC), structural capital, and relational capital positively affect financial competitiveness. HC has a negative impact on green patents, while innovation capital has a positive impact on green invention patents. Physical capital is the main driving force of green innovation performance. This study will help managers to reasonably manage their IC resources to strengthen financial competitiveness and achieve green development.

scholarly journals PENGARUH HUMAN CAPITAL, STRUCTURE CAPITAL, DAN PHYSICAL CAPITAL TERHADAP KINERJA PERUSAHAAN PERBANKAN DI INDONESIA

2019 ◽  
Vol 8 (1) ◽  
Author(s):  
Agustinus Jeneo
Keyword(s):  
Human Capital ◽  
Intellectual Capital ◽  
Negative Impact ◽  
Stock Exchange ◽  
Value Added ◽  
Physical Capital ◽  
Return On Equity ◽  
Result Show ◽  
Capital Efficiency ◽  
The Impact

The objective of this study are to analyze the impact of intellectual capital (HumanCapital, Structure Capital and Physical Capital) on company’s financial performance Return on Assets (ROA) dan Return On Equity (ROE). This research used banking company data that listed in Indonesia Stock Exchange (IDX) 2011-2012. The model that used to measure intellectual capital was Pulic model agregatly-using Value Added Intellectual Coefficient (VAIC™) or separately-using Human Capital Efficiency (HCE), Structure Capital Efficiency (SCE), and Physical Capital/ Capital Employed Efficiency (CEE). The result show: (1) Human Capital Efficiency (HCE) not significant  impact on ROA, (2) Human Capital Efficiency (HCE) not significant impact on ROE, (3) Structure Capital Efficiency (SCE) not significant impact on ROA, (4) Structure Capital Efficiency (SCE) negative impact on ROE (5) Physical Capital/Capital Employed Efficiency (CEE) has a positive significant impact on ROA, (6) Physical Capital/Capital Employed Efficiency (CEE) has a positive significant impact on ROE

scholarly journals Intellectual Capital Performance and Profitability of Banks: Evidence from Pakistan

2019 ◽  
Vol 12 (2) ◽  
pp. 56 ◽  
Author(s):  
Muhammad Haris ◽  
HongXing Yao ◽  
Gulzara Tariq ◽  
Ali Malik ◽  
Hafiz Javaid
Keyword(s):  
Intellectual Capital ◽  
Negative Impact ◽  
Positive Impact ◽  
Value Added ◽  
Bank Profitability ◽  
Policy Makers ◽  
Structural Capital ◽  
Capital Efficiency ◽  
The Impact ◽  
Country Specific

The study contributes to the existing literature on intellectual capital (IC) performance and profitability by extending evidence from Pakistan. The study examines the impact of IC performance on the profitability of Pakistani financial institutions. It further examines how corporate governance, bank specific, industry specific, and country specific indicators effect Pakistani banks’ profitability. The result reports both the linear and non-linear impact of IC performance on profitability, which affirms an inverted U–shaped relationship. Among the three value added intellectual coefficient (VAIC) components, capital employed efficiency (CEE), and human capital efficiency (HCE) are found to have a significantly positive and structural capital efficiency (SCE) is found to have a significantly negative impact on bank profitability. The study notes a positive impact on profitability of factors like board independence, directors’ compensation, and higher capitalization. It reports a negative impact on profitability of factors like board size, board meetings, credit risk, industry concentration and economic growth. The results also indicate low profitability of banks during the period of government transition. The study provides insights into the important profitability drives and suggests that the impact of investment in IC on profitability is limited to an extent. The findings of this study are likely to be useful for policy makers, management, and academics.

scholarly journals The Impact of Intellectual Capital on Financial Performance: A Study of Sri Lankan Financial Institution

2021 ◽  
Vol 04 (09) ◽  
Author(s):  
A. Nishanthini ◽  
Keyword(s):  
Human Capital ◽  
Financial Performance ◽  
Intellectual Capital ◽  
Negative Impact ◽  
Financial Institution ◽  
Value Added ◽  
Sri Lankan ◽  
Structural Capital ◽  
Capital Efficiency ◽  
The Impact

Intellectual Capital is essential in every economical activity. The aim of this study how intellectual capital impact on financial performance in Sri Lankan financial institution. To achieve objective of this research banking institution has been selected from Colombo Stock Exchange financial directory for the period from 2016 to 2020. Random sampling technique were used to analysis the data. MVIAC model used for the measurement of independent variable in this study. This model is a composite sum of two indicators these are Capital Employed Efficiency (CEE) - indicator of VA efficiency of capital employed and Intellectual Capital Efficiency (ICE) – indicator of value-added efficiency ofcompany’s Intellectual Capital base. Intellectual Capital Efficiency is composed of (a) Human Capital Efficiency (HCE) – indicator of value-added efficiency of human capital; and (b) Structural Capital Efficiency (SCE) – indicator of value-added efficiency of structural capital (c) Rational Capital Efficiency (RCE). Finding represent that intellectual capital has significant impact on financial performance of Sri Lankan financial institution, specially banking industry. SCE and CEE has negative impact while RCE impact positively on financial performance.

scholarly journals Analyzing the Renewable Energy and CO2 Emission Levels Nexus at an EU Level: A Panel Data Regression Approach

Processes ◽  
2021 ◽  
Vol 9 (1) ◽  
pp. 130
Author(s):  
Mihail Busu ◽  
Alexandra Catalina Nedelcu
Keyword(s):  
Renewable Energy ◽  
Panel Data ◽  
Co2 Emissions ◽  
Co2 Emission ◽  
Negative Impact ◽  
National Level ◽  
Renewable Energy Consumption ◽  
Urbanization Level ◽  
Carbon Dioxide Co2 ◽  
The Impact

In the past decades, carbon dioxide (CO2) emissions have become an important issue for many researchers and policy makers. The focus of scientists and experts in the area is mainly on lowering the CO2 emission levels. In this article, panel data is analyzed with an econometric model, to estimate the impact of renewable energy, biofuels, bioenergy efficiency, population, and urbanization level on CO2 emissions in European Union (EU) countries. Our results underline the fact that urbanization level has a negative impact on increasing CO2 emissions, while biofuels, bioenergy production, and renewable energy consumption have positive and direct impacts on reducing CO2 emissions. Moreover, population growth and urbanization level are negatively correlated with CO2 emission levels. The authors’ findings suggest that the public policies at the national level must encourage the consumption of renewable energy and biofuels in the EU, while population and urbanization level should come along with more restrictions on CO2 emissions.

The impact of intellectual capital on firm performance: a study of Indian firms listed in COSPI

2018 ◽  
Vol 19 (5) ◽  
pp. 935-964 ◽  
Author(s):  
Neha Smriti ◽  
Niladri Das
Keyword(s):  
Firm Performance ◽  
Intellectual Capital ◽  
Value Creation ◽  
Generalized Method Of Moments ◽  
Value Added ◽  
Secondary Data ◽  
Share Price ◽  
Content Type ◽  
Listed Firms ◽  
The Impact

Purpose The purpose of this paper is to examine the effect of intellectual capital (IC) on financial performance (FP) for Indian companies listed on the Centre for Monitoring Indian Economy Overall Share Price Index (COSPI). Design/methodology/approach Hypotheses were developed according to theories and literature review. Secondary data were collected from Indian companies listed on the COSPI between 2001 and 2016, and the value-added intellectual coefficient (VAIC) of Pulic (2000) was used to measure IC and its components. A dynamic system generalized method of moments (SGMM) estimator was employed to identify the variables that significantly contribute to firm performance. Findings Indian listed firms appear to be performing well and efficiently utilizing their IC. Overall, human capital had a major impact on firm productivity during the study period. Furthermore, the empirical analysis showed that structural capital efficiency and capital employed efficiency were equally important contributors to firm’s sales growth and market value. The growing importance of the contribution of IC to value creation was consistently reflected in the FP of these Indian companies. Practical implications This study has robust theoretical grounds and employs a validated methodology. The present study extends knowledge of IC among academicians and managers and highlights its contribution to value creation. The findings may help stakeholders and policymakers in developing countries properly reallocate intellectual resources. Originality/value This study is the first study to evaluate IC and its relationship with traditional measures of firm performance among Indian listed firms using dynamic SGMM and VAIC models.

Intellectual Capital Investment, Stakeholders' Value, Firm Market Value and Financial Performance: The Case of Tunisia Stock Exchange

2013 ◽  
Vol 12 (02) ◽  
pp. 1350010 ◽  
Author(s):  
Hedia Fourati ◽  
Habib Affes
Keyword(s):  
Human Capital ◽  
Financial Performance ◽  
Intellectual Capital ◽  
Capital Investment ◽  
Positive Impact ◽  
Stock Exchange ◽  
Value Added ◽  
Market Value ◽  
Market Valuation ◽  
Using Data

The purpose of this paper is to investigate the role of intellectual capital investment in improving the firm's market value, stakeholders' value and financial performance. Using data drawn from 21 listed companies in Tunisia Stock Exchange, we conducted two studies. On one hand, from using Charreaux (Charreaux (2006). La valeur partenariale: Vers une mesure opérationnelle. Cahier de FARGO no. 1061103, November) measure of stakeholders' value, we demonstrate that financials come to present the weakest stakeholders' value and clients monopolises in term of value acquisition due to a weak ability of negotiation of firms. On the other hand, we construct a regression model of Pulic's value added intellectual capital investment (VAIC) as the measure of the value added from intellectual capital, in market valuation and financial performance. Our results stressed the fact that there is a positive impact of intellectual capital by human capital efficiency and capital employed efficiency on improving firm's market value. Nevertheless, financial performance measured by ROA is still justified by the traditional measure relying on capital employed efficiency. Indeed for Tunisian quoted firms, human capital investment is a pilar for ameliorating firm market valuation of financial performance.

Intellectual capital: a determinant of firms' operational efficiency

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Kanishka Gupta ◽  
T.V. Raman
Keyword(s):  
Intellectual Capital ◽  
Stochastic Frontier Analysis ◽  
Stock Exchange ◽  
Stochastic Frontier ◽  
Value Added ◽  
Financial Sector ◽  
Operational Efficiency ◽  
Content Type ◽  
Frontier Analysis ◽  
The Impact

PurposeIntellectual capital (IC) has been recognized in improving the efficiency of businesses and gaining competitive edge in the developed world. The present study offers perspectives into the effect of IC on the efficiency of the Indian financial sector companies.Design/methodology/approachFor the purpose of evaluating efficiency, the research has used stochastic frontier analysis (SFA). All Indian financial sector companies listed in National Stock Exchange (NSE-500) for the timeframe of ten years (2008–2018) have been considered. The paper has employed modified Pulic's Value Added Intellectual Coefficient (VAICTM) as a proxy to measure IC. Correlation and panel data regression have been used in order to examine the relationship.FindingsThe results of the study indicate positive and significant relationship between IC and efficiency of the firm. The results also show that all the components of IC, that is, human capital, relational capital, process capital and capital employed have a significant impact on firms' efficiency. Additionally, it has been seen that sample companies do not invest in research and development leading to no innovation capital.Practical implicationsThe research will assist managers in managing and controlling the IC, investors in matters related to investment and financial experts in improving the company's IC and value creation.Originality/valueThe current research is one of the pioneering studies in the context of Indian financial sector that examines the impact of modified VAIC on operational efficiency calculated using SFA.

The impact of intellectual capital and knowledge flows on incremental and radical innovation

2018 ◽  
Vol 10 (2/3) ◽  
pp. 149-170 ◽  
Author(s):  
Duy Quoc Nguyen
Keyword(s):  
Social Capital ◽  
Human Capital ◽  
Intellectual Capital ◽  
Radical Innovation ◽  
Knowledge Flows ◽  
Innovation Performance ◽  
Incremental Innovation ◽  
Content Type ◽  
Radical Innovations ◽  
The Impact

PurposeThe purpose of this paper is to develop a theoretical and empirical exploration of link between organization intellectual capital and knowledge flows with its incremental and radical innovation performance.Design/methodology/approachThis paper adopts relevant literature of social capital and organizational learning to examine the impact of intellectual capital and knowledge flows on incremental and radical innovation based on surveying 95 firms. To test the research hypotheses, regression analysis is used.FindingsResults of the study show that human capital and top-down knowledge flows significantly and positively influence both incremental and radical innovations. Social capital and bottom-up knowledge flows do not have any significant impact on incremental or/and radical innovation. Organizational capital has a positive impact on incremental innovation as expected.Practical implicationsThe results offer several practical implications for business managers to harvest its knowledge bases resident in the firm’s different forms appropriately to make innovation successful. Particularly, knowledge resident in human capital and organizational capital is useful for making incremental innovation. Especially, new knowledge, new skills and new perspectives resident in human capital are crucial important for making radical innovation. Both incremental and radical innovations are positively influenced by dynamic managerial capabilities.Originality/valueThis study contributes to literature by providing new evidence linking organization intellectual capital and knowledge flows with its innovation performance. Especially, the missing link between top-down knowledge flows and radical innovation is empirically examined. Value of this study is that social capital and bottom-up knowledge flows are not universally beneficial for enhancing innovation and their impacts on innovation performance are context dependent and more sophisticated than it is recognized in the literature.

scholarly journals Research on Green Innovation of the Great Changsha-Zhuzhou-Xiangtan City Group Based on Network

Land ◽  
2021 ◽  
Vol 10 (11) ◽  
pp. 1198
Author(s):  
Lu Wang ◽  
Wenzhong Ye ◽  
Lingming Chen
Keyword(s):  
Network Structure ◽  
Negative Impact ◽  
Positive Impact ◽  
Government Support ◽  
Green Innovation ◽  
Urban Agglomerations ◽  
Network Scale ◽  
Low Efficiency ◽  
The Impact ◽  
City Group

This article aims to promote the high-quality development of the Great Changsha-Zhuzhou-Xiangtan City Group and improve the green innovation efficiency of urban agglomeration. This article takes green innovation in networked urban agglomerations as its research subject. Furthermore, it analyzes the impact of network structure characteristics such as network scale and network structure hole on green innovation in urban agglomerations. Moreover, this study uses the unexpected output SBM model to measure green innovation efficiency of the eight prefecture-level cities in the Great Changsha-Zhuzhou-Xiangtan City Group from 2012 to 2018 and analyzes its influencing factors using the panel Tobit model. The results show that the overall green innovation efficiency of the Great Changsha-Zhuzhou-Xiangtan City Group is stable. The distribution of urban green innovation efficiency in the region is characterized by urban gradient and mid-stream drive. In the process of networked innovation, economic development, which has a positive impact on green innovation, promotes the overall effectiveness of the network structure. The low efficiency of urban educational resources, which has a negative impact on green innovation, leads to the redundancy of a network scale. The unapparent advantage of industrial structures, which have a negative impact on the development of green innovation, leads to the insufficient depth and breadth of network openness. Lastly, government support and the level of infrastructure have no impact on green innovation.

scholarly journals Impact of Intellectual Capital Management and Human Capital Circulation on Business Practice at Macro- and Micro Level

2017 ◽  
Vol 9 (5) ◽  
pp. 6-16 ◽  
Author(s):  
Iryna Oleynikova ◽  
Zhanna Balabaniuk
Keyword(s):  
Human Capital ◽  
Intellectual Capital ◽  
Financial Analysis ◽  
Economic Value ◽  
Weighted Average ◽  
Value Added ◽  
General Acceptance ◽  
Managerial Implications ◽  
Standard Practices ◽  
The Impact

Nowadays the main potential for growth comes from the ability to innovate and succeed with breakthrough ideas. However, despite growing importance of the subject matter, there are still no standard practices that would perform such a measurement and employ tendencies of human capital circulation. Various attempts have been made over recent years, but none have achieved general acceptance among experts in the business field. Although there is no universally accepted theory, each has its own strengths and weaknesses in the deriving approximate value of intellectual capital for various companies. In this work, we looked over some theories that have been suggested to estimate intellectual capital and analyzed data from Ukrainian IT companies in order to prove how important measurement of intellectual capital and human capital circulation trends to allow for much better representation of an organization’s competitive position. Additionally, the impact of intellectual capital on various Key Performance Indicators, such as Economic Value Added and Weighted Average Cost of Capital, was examined with supporting financial analysis performed. The paper concludes with an overview of methodological and managerial implications of the research, theoretical and practical limitations and possible improvements, and considerations for further research in the field of study.

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