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Article

Isabel Brusca, Sandra Cohen, Francesca Manes-Rossi and Giuseppe Nicolò

The purpose of this study is to compare of the way intellectual capital (IC) is disclosed in the websites of the universities in three European countries to assess the way…

Abstract

Purpose

The purpose of this study is to compare of the way intellectual capital (IC) is disclosed in the websites of the universities in three European countries to assess the way universities decide to communicate IC to their stakeholders and identify potential patterns and trends. In addition, the relation between the level and the type of IC Web disclosure in universities and academic rankings as a proxy of performance is explored to reveal interrelations.

Design/methodology/approach

The study is based on a sample of 128 universities coming from Greece (22), Italy (58) and Spain (48). The websites of the universities are content-analysed to measure the level of IC disclosure. The IC disclosure metrics are then correlated with the academic rankings of the World Ranking.

Findings

While the level of IC disclosure among universities and among countries is not homogeneous, human capital and internal capital items are more heavily disclosed compared to external capital items in all three countries. In addition, larger universities in terms of number of students tend to disclose more on IC. Moreover, there is a positive correlation between the level of IC Web disclosure and the academic ranking that challenges the IC disclosure strategies followed by the universities.

Originality/value

The paper represents an innovative contribution to the existing literature as it investigates websites to assess the level of IC disclosure provided by universities in a comparative perspective. Furthermore, it analyses the relationship between the online IC disclosure and European universities’ academic rankings and provides evidence on the interaction between the IC disclosure and the ecosystem in which the universities operate contributing to the fourth stage of IC research.

Details

Meditari Accountancy Research, vol. 28 no. 1
Type: Research Article
ISSN: 2049-372X

Keywords

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Article

Sirinuch Nimtrakoon

The purpose of this paper is to explore and compare the extent of intellectual capital (IC) and its four components among ASEAN countries, and examine the relationship…

Abstract

Purpose

The purpose of this paper is to explore and compare the extent of intellectual capital (IC) and its four components among ASEAN countries, and examine the relationship between firms’ IC, market value, and financial performance.

Design/methodology/approach

The study uses the data of 213 technology firms listed on five ASEAN stock exchanges. Pulic’s Value Added Intellectual Coefficient model is modified by adding an extra component, namely, relational capital efficiency (RCE). The Kruskal-Wallis one-way ANOVA and multiple regression analysis have been utilized to test the hypotheses.

Findings

The results reveal that there is no significant difference in Modified Value Added Intellectual Coefficient (MVAIC) across five ASEAN countries; however, firms in each country tend to place a different degree of emphasis on components of MVAIC to generate corporate value. The results further indicate a positive relationship between IC and market value, confirming that firms with greater IC tend to have greater market value. Likewise, a positive relationship between IC and financial performance measures is confirmed. Specifically, IC is found to be positively associated with margin ratio and return on assets. Capital employed efficiency and human capital efficiency are found to be the most influential value drivers for both market value and financial performance while structural capital efficiency and relational capital efficiency possess less importance.

Originality/value

This study contributes to the IC literature by expanding our knowledge of IC in the emerging economies, and providing a national comparative IC research when such research is limited.

Details

Journal of Intellectual Capital, vol. 16 no. 3
Type: Research Article
ISSN: 1469-1930

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Article

Mahfoudh Abdulkarem Al-Musali and Ku Nor Izah Ku Ismail

The purpose of this paper is to explore the intellectual capital (IC) performance of banks in Gulf Cooperation Council (GCC) countries and to empirically investigate if IC

Abstract

Purpose

The purpose of this paper is to explore the intellectual capital (IC) performance of banks in Gulf Cooperation Council (GCC) countries and to empirically investigate if IC has an impact on financial performance as well as to identify the IC components that may be the drivers of the traditional indicators of bank success.

Design/methodology/approach

The empirical data are drawn from banks’ annual reports over the three-year period of 2008 to 2010. Ordinary least squares regression analysis is constructed to examine the relationships between IC and the banks’ financial performance indicators. Pulic’s value-added intellectual coefficient method (VAIC) is applied to measure IC performance.

Findings

Empirical findings, after controlling for bank size and global financial crisis, indicate that IC is positively associated with bank financial performance indicators in all GCC countries. However, when VAIC is split into its three components, the relationships between these components and bank financial performance indicators are varied.

Research limitations/implications

The main limitation of this study is the use of IC measurement model. Its basic advantage (simplicity and ease of use) is also its main limitation. The main problem is measuring the contribution of something which is not physical and cannot be easily quantified. The key issue is that the value created by IC is indirect. However, at present, no perfect solution is available for intellectual capital measurement, as the area is still exploring the best possible solutions.

Practical implications

The results may extend the understanding of the role of IC in banking sector in GCC region and may give inputs to managers of GCC banks to structure relevant strategies to obtain, utilize, develop and retain IC. The findings also could help policy makers in GCC to formulate and implement policies for establishing a resilient banking sector.

Originality/value

This study adds to the literature by extending the knowledge of IC performance and its utilization for increasing the financial performance of GCC banks. There has only been one previous empirical study that explores the IC and its relationship with the traditional measures of bank performance in GCC region (only in Bahrain). It is the first comparative study across GCC countries.

Details

International Journal of Islamic and Middle Eastern Finance and Management, vol. 9 no. 4
Type: Research Article
ISSN: 1753-8394

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Article

Henri Inkinen, Aino Kianto, Mika Vanhala and Paavo Ritala

Academics and practitioners around the world have shown interest in what constitutes the relevant intellectual capital (IC) in firms. However, studies have largely…

Abstract

Purpose

Academics and practitioners around the world have shown interest in what constitutes the relevant intellectual capital (IC) in firms. However, studies have largely neglected to examine whether IC has identical or different structural elements in various parts of the world. The purpose of this paper is to suggest that country-specific institutional structures may impact the perception of IC, and empirically analyse whether differences exist between five countries drawing on the institutional theory.

Design/methodology/approach

This study tests for the differences in the underlying categorizations of IC in a sample consisting of 708 firms across five countries. Confirmatory factor analysis and comparison of different possible IC models are conducted to empirically examine the IC structure.

Findings

The results demonstrate that IC has predominantly the same underlying elements across the examined countries. However, trust capital in Finland and renewal capital in Serbia are structurally different compared to other countries.

Research limitations/implications

Institutional theory and multinational corporate superculture can explain the similarity in the IC structures across countries. Specifically, globalized markets carry institutionalized rules, norms, and expectations for the participating firms; under the influence of this superculture, the firms begin to assimilate. Conversely, the differences suggest that some country- and culture-specific differences remain even during the transition to global markets.

Originality/value

This study is among the first to question the assumption that IC has identical structural elements across the world, and merges theories of IC and institutions to explain the possible origins of these differences.

Details

Accounting, Auditing & Accountability Journal, vol. 30 no. 5
Type: Research Article
ISSN: 0951-3574

Keywords

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Article

Ginevra Gravili, Francesco Manta, Concetta Lucia Cristofaro, Rocco Reina and Pierluigi Toma

The aim of this paper is to analyze and measure the effects of intellectual capital (IC), i.e. human capital (HC), relational capital (RC) and structural capital (SC), on…

Abstract

Purpose

The aim of this paper is to analyze and measure the effects of intellectual capital (IC), i.e. human capital (HC), relational capital (RC) and structural capital (SC), on healthcare industry organizational performance and understanding the role of data analytics and big data (BD) in healthcare value creation (Wang et al., 2018). Through the assessment of determined variables specific for each component of IC, the paper identifies the guidelines and suggests propositions for a more efficient response in terms of services provided to citizens and, specifically, patients, as well as predicting effective strategies to improve the care management efficiency in terms of cost reduction.

Design/methodology/approach

The study has a twofold approach: in the first part, the authors operated a systematic review of the academic literature aiming to enquire the relationship between IC, big data analytics (BDA) and healthcare system, which were also the descriptors employed. In the second part, the authors built an econometric model analyzed through panel data analysis, studying the relationship between IC, namely human, relational and structural capital indicators, and the performance of healthcare system in terms of performance. The study has been conducted on a sample of 28 European countries, notwithstanding the belonging to specific international or supranational bodies, between 2011 and 2016.

Findings

The paper proposes a data-driven model that presents new approach to IC assessment, extendable to other economic sectors beyond healthcare. It shows the existence of a positive impact (turning into a mathematical inverse relationship) of the human, relational and structural capital on the performance indicator, while the physical assets (i.e. the available beds in hospitals on total population) positively mediates the relationship, turning into a negative impact of non-IC related inputs on healthcare performance. The result is relevant in terms of managerial implications, enhancing the opportunity to highlight the crucial role of IC in the healthcare sector.

Research limitations/implications

The relationship between IC indicators and performance could be employed in other sectors, disseminating new approaches in academic research. Through the establishment of a relationship between IC factors and performance, the authors implemented an approach in which healthcare organizations are active participants in their economic and social value creation. This challenges the views of knowledge sharing deeply held inside organizations by creating “new value” developed through a more collaborative and permeated approach in terms of knowledge spillovers. A limitation is given by a fragmented policymaking process which carries out different results in each country.

Practical implications

The analysis provides interesting implications on multiple perspectives. The novelty of the study provides interesting implications for managers, practitioners and governmental bodies. A more efficient healthcare system could provide better results in terms of cost minimization and reduction of hospitalization period. Moreover, dissemination of new scientific knowledge and drivers of specialization enhances best practices sharing in the healthcare sector. On the other hand, an improvement in preventive medicine practices could help in reducing the overload of demand for curative treatments, on the perspective of sharply decreasing the avoidable deaths rate and improving societal standards.

Originality/value

The authors provide a new holistic framework on the relationship between IC, BDA and organizational performance in healthcare organizations through a systematic review approach and an empirical panel analysis at a multinational level, which is quite a novelty regarding the healthcare. There is little research focussed on healthcare industries' organizational performance, and, specifically, most of the research on IC in healthcare delivered results in terms of theoretical contribution and qualitative analyzes. The authors even contributed to analyze the healthcare industry in the light of the possible existence of synergies and networks among countries.

Details

Journal of Intellectual Capital, vol. 22 no. 2
Type: Research Article
ISSN: 1469-1930

Keywords

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Article

Mary Low, Grant Samkin and Yuanyuan Li

– The purpose of this paper is to examine the quality of voluntary intellectual capital (IC) by universities in New Zealand, Australia, and the UK.

Abstract

Purpose

The purpose of this paper is to examine the quality of voluntary intellectual capital (IC) by universities in New Zealand, Australia, and the UK.

Design/methodology/approach

An IC framework was developed to measure IC reporting in the university sector. Content analysis was used to analyse the 2011 annual reports before a three-year comparative analysis of 90 universities (eight New Zealand universities, 38 Australian universities, and 44 UK universities) was undertaken.

Findings

New Zealand and Australian universities outperformed the UK universities in terms of IC disclosures. Additionally, the study found moderate increases in the levels of IC disclosures over the period of the study. The quality of IC disclosures by New Zealand universities was generally higher than their Australian and UK counterparts. Internal capital and human capital were the most disclosed categories with external capital being the least frequently disclosed in all three countries. However, the quality of external capital disclosures was higher than internal and human capital. Finally, most IC disclosures were narrative in nature.

Practical implications

The framework developed in this study could be adapted, further enhanced, and then applied to exploring IC disclosures in higher educational institutes in other jurisdictions.

Originality/value

This is the first comparative analysis of IC disclosures made by universities in three countries.

Details

Journal of Intellectual Capital, vol. 16 no. 4
Type: Research Article
ISSN: 1469-1930

Keywords

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Article

Mahesh Joshi, Dharminder Singh Ubha and Jasvinder Sidhu

The purpose of this paper is to investigate and compare the voluntary reporting of intellectual capital (IC) by the top 20 software and technology sector companies in a…

Abstract

Purpose

The purpose of this paper is to investigate and compare the voluntary reporting of intellectual capital (IC) by the top 20 software and technology sector companies in a developing nation, India, and a developed nation, Australia. The paper aims to highlight the differences in IC disclosure practices of the companies operating in two different economies.

Design/methodology/approach

The study investigates the top 20 firms by market capitalisation listed on the Bombay Stock Exchange in India and the Australian Stock Exchange in Australia in the year 2007‐2008. Using the content analysis method, the paper reviews the annual reports of these firms to determine IC disclosure trends in India and Australia. Statistical tools and graphs have been used to compare and contrast ICD disclosures in two countries.

Findings

The study has identified IC disclosure differences between Indian and Australian firms, and reports disclosures by Indian companies are on a higher scale than Australian Software and Technology Sector companies. However, Levels of voluntary IC disclosure are found to be low in both the nations and most of the disclosures are declarative in nature.

Research limitations/implications

This lack of consistency in reporting practices makes comparisons across countries difficult. The paper emphasises the need for a uniform and consistent framework for the reporting of intellectual capital items.

Practical implications

The results of this exploratory study on the knowledge based industrial sector can be used by researchers to explore different types of IC reporting initiatives pursued across specifically knowledge based industrial sectors.

Originality/value

This study offers insights into comparative trends in IC disclosure practices of software and technology sector companies operating in a developed and a developing country.

Details

Journal of Intellectual Capital, vol. 13 no. 4
Type: Research Article
ISSN: 1469-1930

Keywords

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Article

Qianyu Wang, Umesh Sharma and Howard Davey

– The purpose of this paper is to examine the extent and quality of voluntary intellectual disclosures by information technology (IT) companies of China and India.

Abstract

Purpose

The purpose of this paper is to examine the extent and quality of voluntary intellectual disclosures by information technology (IT) companies of China and India.

Design/methodology/approach

The research method adopted for this study is content analysis. The research is limited to the intellectual capital information disclosed in companies’ annual report. The sample for this research is based on 20 IT companies listed by market capitalization listed on Shenzhen or Shanghai stock exchange market, and the largest 20 companies listed on Indian stock market.

Findings

Indian IT companies tends to perform better than Chinese IT companies in extent and quality of disclosures. The extent of disclosure of both countries is at a relatively high level. The most frequently reported disclosure category in India is external capital, while the least one is human capital. In China, external capital is the most frequently disclosed category, while the internal capital is the least one.

Research limitations/implications

The sample size of the study is relatively small. Future research can expand on the sample size to get an overview of the intellectual capital disclosure, and conduct a longitudinal study to capture the trend of reporting practices.

Practical implications

The findings of this study have implications for policy makers and standard setters for rethinking of inclusion of intellectual capital disclosure in annual reports as compulsory items. This will not only add tot he quality of information but various stakeholders will be able to make an assessment of the values of a firm.

Originality/value

Previous studies of intellectual capital (IC) disclosure have covered little on the relationship between market capitalization and quality of disclosure and cross-country disclosure on IC. This research tends to extend the literature on IC disclosure.

Details

Journal of Intellectual Capital, vol. 17 no. 3
Type: Research Article
ISSN: 1469-1930

Keywords

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Article

Elena Borin and Fabio Donato

The purpose of this paper is to explore the consistence of an ecosystem framework within the cultural sector and investigate the potential role of intellectual capital (IC

Abstract

Purpose

The purpose of this paper is to explore the consistence of an ecosystem framework within the cultural sector and investigate the potential role of intellectual capital (IC) in cultural ecosystems.

Design/methodology/approach

The paper presents the results of an empirical research carried out within a specific Italian area, the Po Delta. It was based on sound theoretical analysis and group interviews focusing on three main discussion topics.

Findings

The research validated the consistence of ecosystem frameworks in relation to the cultural sector and the key role played by IC in their design, creation and implementation. It also highlighted the idea that this perspective is part of a broader rethinking process of the cultural field.

Research limitations/implications

The research was carried out within a specific geographical area. The results, however, indicate the need for further research on the potential of IC in cultural ecosystems, in light of both a comparative and international perspective.

Practical implications

The research highlights the emergence of new frameworks and highlights the role of IC in new governance models in the cultural sector.

Social implications

The analysis underlines the need for new governance systems based on a bottom-up approach, multi-level and multi-stakeholder frameworks, and potentially bringing important societal changes.

Originality/value

The concept of IC ecosystems remains a relatively unexplored field within the cultural sector. This paper could make a valuable contribution to the debate on new governance systems in this field.

Details

Journal of Intellectual Capital, vol. 16 no. 2
Type: Research Article
ISSN: 1469-1930

Keywords

Abstract

Details

Review of Marketing Research
Type: Book
ISBN: 978-0-85724-727-8

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