The Nexus Between Intellectual Capital and Financial Performance: An Econometric Analysis from Pakistan

• 발행기관: 한국유통과학회
• 저자명: Raazia GUL Mamdouh Abdulaziz Saleh AL-FARYAR Nazima ELLAHI
• 간행물 정보: 『The Journal of Asian Finance, Economics and Business(JAFEB)』Vol. 9 No.7, 231~237쪽, 전체 7쪽
• 주제분류: 경제경영 > 경제학
• 파일형태: PDF
• 발행일자: 2022.07.31

영문 초록

Intellectual Capital, a valuable intangible organizational asset, is primarily linked to a company’s financial performance and is divided into three categories: human, structural, and relational capital. This paper investigates the impact of intellectual capital on the financial performance of selected Pakistani companies in the Information and Communication sector, as this sector is heavily reliant on intellectual capital. The data for 11 firms was gathered from the State Bank’s Financial Statements Analysis of Companies Listed on the Pakistan Stock Exchange from 2015 to 2020. Pulić’s (2004) Value Added Intellectual Coefficient (VAICTM) has been used to assess a company’s IC efficiency. VAIC™ and its components, the efficiency of intellectual capital, and the efficiency of capital employed are calculated. Financial performance is measured through return on assets, return on capital employed, and asset turnover ratio. Multiple regression, fixed-effect, and random-effect Panel Data estimation are used in the empirical study. The findings suggest that intellectual capital efficiency has a large impact on major profitability metrics, but little effect on company productivity. It can be inferred from the results that the companies must invest in advanced technology, the latest machinery, and well-equipped offices to improve financial performance and productivity and gain a competitive advantage.

목차

1. Introduction

2. Literature Review and Hypothesis Development

3. Materials and Methods

4. Results

5. Discussion

6. Conclusion

References

키워드

Intellectual Capital Financial Performance Panel Data Value Added Intellectual Coefficient (VAIC™)