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This article highlights key aspects of capital management, including capital planning, capital budgeting, capital financing, decision making and capital spending outcomes. We provide a background discussion of public sector capital management, followed by a summary of the articles that comprise this symposium. Combined, these articles illustrate the complexity of and challenges to capital management at the state and local government levels. We discuss common themes that emerge from reading these articles as a collective symposium, including: (1) modest progress in applying and empirically testing theoretical frameworks; (2) the variety of actors and institutions; and (3) the deteriorating condition and poor performance of public infrastructure. We use the articles to illustrate gaps in the research and offer suggestions for future research on capital management theory and practice.

U.S. state governments own a large array of fixed assets and lease a great number of parcels of private real properties for public uses. The purpose of this paper is to explore the public asset management system of the U.S. state governments. First, this paper analyzes the major, current public asset management systems and the public procurement systems created by the Organization for Economic Co-operation and Development and the U.S. Government Accountability Office. Based on the analysis, this paper constructs a comprehensive public asset management system that consists of six cornerstones. Second, this paper verifies the comprehensive public asset management system using the data collected from thirty-seven surveyed state governments. The data analysis demonstrates that the comprehensive public asset management system is supported. However, each cornerstone of the comprehensive public asset management system presents different strengths. Third, this paper suggests that further research may delve into particular areas of capital asset management at the state government level to identify critical issues and to provide appropriate resolutions.

This paper aims to examine the effects of Tier-1 capital toward risk management and profitability on the performance of Indonesian Commercial Banks.

The research population consisted of all commercial banks listed on the Indonesia Stock Exchange. The data were in the form of financial statements of commercial banks for the periods of 2012 to 2016 with a total of 42 companies (bank). From a total of 42 commercial banks listed in the Indonesia Stock Exchange, not all of them met the criteria. Commercial banks that meet these criteria are as many as 28 banks are sampled research.

Tier-1 capital has a positive direct effect on risk management, Tier-1 capital has a positive indirect effect on profitability with risk management as a mediation variable, risk management has a positive direct effect on profitability, Tier-1 capital has a positive indirect effect on performance with risk management and profitability as mediation variables, risk management has a positive indirect effect on performance with as mediation variable and profitability has a positive impact on performance.

The originality of this research can be seen from the causal relationship between the effects of Tier-1 capital, risk management and profitability on the performance of commercial banks in the context of stock performance among Indonesia commercial banks. Also, the analysis tools using multiple fixed effect panel data models in this research as a novelty in this research. In addition, previous research findings remain inconsistent with one another. By conducting this research, it is expected that more consistent research findings than the previous ones can be generated. Sluggish global economic conditions, which result in declined bank performance are an interesting topic to investigate. The paper uses an original sample, 28 Indonesian banks in 2012-2016. Also, it links Tier 1 capital with risk management and performance in a novel theoretical framework.

This study examines the relationship between working capital management and business performance.

The relationship between the working capital management and business performance is examined using panel data analysis for a sample of EU-28 listed firms for the period from 2003 to 2012. To examine this relationship, an ordinary least squares (OLS) regression model is used to analyze the data obtained from the sample. The dependent variable consists of three measurements, namely return on asset (ROA), return on equity (ROE) and earnings before interest and taxes margin (EBITM), which are used as proxies for accounting-based measures of performance.

The authors examined the aforementioned relationship during the 2008 financial crisis. The OLS regression analysis suggests that there is a negative relationship between gross working capital and business performance for code law countries. The results also show that liquidity measures estimated by current ratio have a statistically significant impact on business performance indicated by ROA for all EU countries. The 2008 financial crisis had a significantly negative impact on ROA. Additionally, the findings regarding financial inclusion show a negative relationship between gross working capital and business performance among EU and other performer countries.

Overall, the empirical findings are consistent with Afrifa's (2016), who suggests that cash flow should increase investment in working capital to improve performance indicated by EBITM for old EU members.

While many empirical studies investigate the relationship between working capital and firm profitability, most do not consider the impact of the 2008 financial crisis apart from Tsurate (2019). The authors examine whether legal origins are important determinants of working capital management policies and business performance. Thus, empirically, the code law countries have a negative relationship between gross working capital, business performance and EBITM.

This article aims to provide a bibliometric and systematic literature analysis of studies published in the Journal of Intellectual Capital (JIC) from 2014 to 2018 in order to highlight emerging themes and future trends.

The analysis focused on 187 papers published on JIC over a period of five years. A scientometric approach to data mining enabled the detection of patterns in the dataset. Precisely, the investigation was conducted by integrating a bibliometric analysis on VOSviewer with a systematic literature review.

Four main streams of research on JIC emerged in the years of the analysis: reporting and disclosure of intellectual capital; intellectual capital research in universities, education and public sector; knowledge management; intellectual capital, financial performance, and market value.

The study offers valid insights to the topics covered by the Journal of Intellectual Capital by identifying the main research gaps and trends, along with future research avenues.

Prior scholars mostly focused on systematic literature reviews, whilst the use of bibliometric methods generally seems to be a missing tile in the research domain. Also, none of the extant studies has focused on the Journal of Intellectual Capital with reference to the 2014–2018 period. The use of both bibliometric and systematic approaches to literature review delivered extremely fine-tuned results in terms of factors such as citations, contents and evolution of clusters over time.

The purpose of this paper is twofold: to know whether those firms that achieve greater efficiency from their intangible resources (intellectual capital) also obtain greater performance; and to analyze the moderating role of family management on that relationship in small to medium-sized enterprises (SMEs).

This paper conducts an empirical study with different econometric models using a panel data sample of 6,132 paired firm-year observations from Spanish manufacturing SMEs in the period 2000–2013.

The findings suggest that intellectual capital efficiency is a key factor that allows the firm to achieve and maintain competitive advantages, obtaining greater performance. Additionally, this research also shows that the moderating role of family management can be a double-edged sword depending on the type of intangible resources.

This paper may give managers an insight in how to better utilize and manage intangible resources available in their firms to improve competitive advantage and ultimately firm performance. Additionally, on the basis of the Socioemotional Wealth perspective (SEW), this article argues that family-managed firms that focus on SEW preservation can enhance the impact of structural capital efficiency on performance.

This paper extends the prior literature by studying the joint effects of intellectual capital efficiency, distinguishing between human capital and structural capital efficiency, and family management on performance in the context of SMEs.

The purpose of this paper is to provide assistance to public organizations in the process of developing their ability to identify, measure and manage their intangible assets.

A review of the most important intellectual capital management initiatives at Spanish public organizations is realized.

The paper shows the importance of intellectual capital approaches as instruments to face the new challenges in public sector. The experience gained from the case studies provides a practical help to public organizations to develop means to identify, measure and manage their intangible assets.

The study provides a basis to understand how Spanish public organizations are measuring and managing their intellectual capital. In this sense, the first step would be the definition and diffusion of the organization's strategic objectives. Then, critical intangibles related to these objectives should be identified. Afterwards, a set of indicators is defined and developed for each intangible.

Public managers work with intangible concepts, although there is not always a methodology available that systematizes their identification, measurement and presentation. To deal with this problem, it is considered fundamental to know which initiatives have been carried out in Spain in relation to models of intellectual capital management for public organizations.

Sees the objective of teaching financial management to be to help managers and potential managers to make sensible investment and financing decisions. Acknowledges that financial theory teaches that investment and financing decisions should be based on cash flow and risk. Provides information on payback period; return on capital employed, earnings per share effect, working capital, profit planning, standard costing, financial statement planning and ratio analysis. Seeks to combine the practical rules of thumb of the traditionalists with the ideas of the financial theorists to form a balanced approach to practical financial management for MBA students, financial managers and undergraduates.

This paper seeks to critically review developments in the literature spanning personnel management, HRM, learning organization and intellectual capital approaches to employee utilization and development. The purpose being to identify the benefits, limitations and lessons for the management of people in the co‐operative and mutual sectors.

The problem of inadequate Personnel or HRM systems in the majority of co‐operatives has been established by the author over a period of seven years, field work with co‐operative organizations including the international co‐operative alliance (ICA), asian confederation of credit unions (ACCU), and the British society for co‐operative studies. Direct interviews and a sample of HRM and Membership Relations audit forms developed as part of the ongoing field research and special project work have been applied to various co‐operative contexts in all the regions of the ICA.

The findings are that co‐operatives generally are lagging behind the private sector in their application of all four approaches. Mostly smaller co‐operatives lack effective basic personnel systems and few of the larger co‐operatives go beyond HRM. This failure to develop clear programs for the utilization and development of their people is a missed opportunity.

The membership base and its roots in a community of shared interests means that, whilst co‐operatives have lessons to learn from all four approaches, they can and must go beyond them if they are to optimize their people‐centered business advantage in the marketplace.

The paper suggests a new strategy for co‐operatives of Co‐operative Social Capital Management to help them compete, whilst retaining their co‐operative difference.