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The purpose of this paper is to analyze the role of intellectual capital (IC) and its relationship with financial performance of Iran insurance companies during the period 2005‐2007.

In total, 39 insurance companies were selected as the sample. Regression model (partial least squares) has been applied to examine the relationship between IC and companies' return on assets ratio (ROA).

The results of the research revealed that value added intellectual capital and its components have a significant positive relationship with companies' profitability.

The VAIC™ method could be an important means for many decision makers to integrate IC in their decision‐making process, which allows insurance companies to benchmark themselves according to the IC efficiencies and develop strategies to enhance their company's performance.

This is the first research, which has used the data on value added recently calculated and published by Iran insurance firms in the “Value Added Scoreboard”.

Although intellectual capital (IC) has been proven to be value-added for companies, the drivers of IC performance remain an under-researched area. From the perspective of corporate governance, the purpose of this paper is to examine how controlling the ownership of shareholders would influence IC performance.

This study utilized value-added intellectual capital (VAIC^TM) and its subcomponents, namely human capital, structural capital and capital employed efficiencies, to proxy for IC performance and regression analyses to assess the association between controlling the ownership of shareholders and the IC performance of Taiwanese listed semiconductor firms for the years 2009–2017.

Results show that controlling the ownership of shareholders is nonlinearly related to IC performance. Specifically, controlling their ownership positively affects the level of IC performance up to an optimal point before it turns to be a negative relationship thereafter.

The results of this study can help policy makers and other stakeholders understand the role of controlling shareholders in determining IC performance. The findings of this study suggest a nonlinear relationship between controlling the ownership of shareholders and IC.

This study provides an extended perspective in studies related to the determinants of IC by considering the resources provided by controlling shareholders. The definitions of controlling interests and IC applied in this study are compared and aligned with those found in the International Financial Reporting Standard 10 – Consolidated Financial Statements and the International Integrated Reporting Council, respectively.

This paper investigates the impact of intellectual capital and its components on slack-based technical efficiency (SBM-TE) of banks.

Data envelopment analysis is used to compute SBM-TE scores and the Value-Added Intellectual Coefficient (VAIC™) model is used to measure intellectual capital. An unbalanced panel of 32 banks that operated from 2000 to 2017 has been used.

Overall, the efficiency scores are averaged at 79%, suggesting that an inefficient bank needs to enhance technical efficiency by 21% to be at par with the best performing banks. Beta-convergence and sigma-convergence exist among banks with faster speed evident among listed and local banks. Intellectual capital has a positive impact on SBM-TE and human capital is the main driver of technical efficiency among banks. This result is specifically evident among non-listed banks and foreign banks. Economies of scale property are also evident among the banks. Competition and asset tangibility inhibit technical efficiency among banks.

Banks are advised to invest in value-adding emerging technologies and their employees so as to enhance their efficiency. The study offers insights for policymakers, practitioners and researchers in emerging markets.

The study is premier in employing the SBM-TE to explain the intellectual capital and efficiency nexus, as well as, testing for both beta-convergence and sigma-convergence.

This study investigates the capital structure determinants of the Middle East tourism sector by examining intellectual capital (IC) efficiency and institutional governance along with firm-specific and macroeconomic variables. This research also identifies the determinants of capital structure for tourism companies in the Gulf Cooperation Council (GCC) and non-GCC countries.

Data were collected from 45 listed tourism companies of nine Middle Eastern countries over five years from 2014 to 2018. The data were analysed using ordinary least squares (OLS) regression and checked for robustness using the generalised methods of moment (GMM) estimation.

Overall, the results indicate that tourism companies rely more on short-term debt (STD) than long-term debt (LTD), thus decreasing liquidity and increasing financial risk. Furthermore, tourism companies in non-GCC countries have higher IC efficiency compared to those in GCC countries. The aggregate institutional index is much higher for GCC countries compared to non-GCC countries. The OLS estimations suggest IC efficiency and institutional governance index provide inconclusive evidence as a determinant of capital structure proxy. High capital employed efficiency (CEE) is associated with more leverage for tourism firms. Theoretically, the results support pecking order and trade-off theories due to the relationships between firm-specific indicators and debt.

This study closes the gap in the capital structure debate by providing valuable insights into IC efficiency and institutional governance. These two factors serve as capital structure determinants in the Middle East and the GCC and non-GCC regions.

The purpose of the paper is to obtain measure of the intellectual capital (IC) performance of quoted banks on the Istanbul Stock Exchange Market (ISE) in Turkey for the period 1995‐2004 and test the effect of the intellectual capital performance on profitability.

Data required for calculating intellectual capital efficiencies were obtained from the ISE for the period 1995‐2004. The authors measured the intellectual capital performance of quoted banks in ISE using the efficiency coefficient, called Value Added Intellectual Coefficiency (VAIC^TM), and tested the effect of this intellectual capital performance on profitability using Data Envelopment Analysis (DEA). In addition, three different portfolios were constructed based on three different inputs to observe the effect of the intellectual capital on investors' behavior.

The effect of intellectual capital on profitability on the banking sector on the ISE was calculated as 61.3 percent on average and Portfolio‐1, which uses the intellectual capital measure as an input, yields the highest returns among the three portfolios constructed.

The study was applied only to quoted banks on the ISE for the period 1995‐2004.

The findings allow the banks to benchmark themselves based on the level of IC efficiency ranking, which is important for the banking sector to develop a strategic plan for their future performance. It may also be deduced that intellectual capital is an important factor for investors.

This paper can be considered as one of the most comprehensive studies on testing the effect of intellectual capital performance on profitability in the banking sector using both VAIC and DEA.

This paper explores knowledge sharing (KS) and intellectual capital (IC) impacts on the success rate of equity crowdfunding (EC) campaigns in the Italian market, which represents a new model for financing entrepreneurial initiatives.

The relation between KS, IC and the success rate of EC campaigns is analysed with a panel regression that measures IC through the value added intellectual coefficient. Social network analysis is used to measure KS in the users' network on Twitter for EC campaigning. Specifically, the authors consider the information users exchange on social networks as a proxy of KS and identify the hubs influencing information dissemination, the size and strength of networks for each EC campaign. Finally, the success rate of EC campaigns is a ratio of the number of positive campaigns to the total number of campaigns for each platform.

The success rate of EC campaigns is positively related to IC and significantly and positively related to the number of connections the EC platforms have.

The positive relationship between the hub role of social network platforms and the success of EC campaigns provides an important signal to crowdfunding operators. As more potential investors focus on an EC campaign, a bandwagon effect could involve uninformed investors. This result is crucial in order to better understand how social media activity affects crowdfunding success.

Although the literature has examined the impact of KS on general firm performance and the mediating role of intellectual capital, no prior studies have examined the impacts of KS and IC on the success rate of EC campaigns in a specific market.

To present a study analyzing the intellectual performance of Greek listed corporations on the Athens Stock Exchange under the distinctive aspect of being a “globalized” or “localized” firm.

Due to the used VAIC™ method the firm's performance is researched under its intellectual (IC) and physical (CA) aspect. The investigation confirms the existence of some semantic – added value‐based – performance differences by using predictor variables (discriminant analysis) and factors or “drivers” (factor analysis) influencing the actual “globalization status quo”.

States that “localized firms” are the distinct small technocratic, blue‐collar intellectual performers while the “globalized” ones are the large plutocratic, white‐collar intellectual performers.

There is a need to analyze data of more corporations and for a longer time period in order to prove clearly the assumptions of the VAIC™ method. Additional comparative research with other (international) corporations will prove (or not) the above findings concerning intellectual differences due to the “globalization” status.

Offers an international comparative research possibility for “advanced” researchers in academia or praxis and enables “beginners” to learn a way of measuring intellectual capital performance.

This paper is an original research based on confirmed data of listed firms, using a “simple” but excellent method, in order to highlight the intellectual phenomenon in a “rational” (metric) way.

Intellectual capital (IC) plays a crucial role in today’s volatile business landscape, yet its measurement remains complex. To better navigate these challenges, the authors propose the Integrated Intellectual Capital Measurement (IICM) model, an innovative, robust and comprehensive framework designed to capture IC amid business uncertainty. This study focuses on IC measurement models, typically reliant on secondary data, thus distinguishing it from conventional IC studies.

The authors conducted a systematic literature review (SLR) and bibliometric analysis across Web of Science, Scopus and EBSCO Business Source Ultimate in February 2023. This yielded 2,709 IC measurement studies, from which the authors selected 27 quantitative papers published from 1985 to 2023.

The analysis revealed no single, universally accepted approach for measuring IC, with company attributes such as size, industry and location significantly influencing IC measurement methods. A key finding is human capital’s critical yet underrepresented role in firm competitiveness, which the IICM model aims to elevate.

This is the first SLR focused on IC measurement amid business uncertainty, providing insights for better management and navigating turbulence. The authors envisage future research exploring the interplay between IC components, technology, innovation and network-building strategies for business resilience. Additionally, there is a need to understand better the IC’s impact on specific industries (automotive, transportation and hospitality), Social Development Goals and digital transformation performance.

The purpose of this paper is to study the relationship, if any, between the intellectual capital (IC) components, namely human, structural, and physical capitals with the traditional measures of performance of the company, namely profitability, productivity and market valuation.

Value added by IC (VAIC™) for top 25 firms in the drug and pharmaceutical industry in India, for a ten‐year period from 1996 to 2006 is estimated. The evaluation is done on the basis of the ranking obtained by each firm in the VAIC index estimated. The analysis of correlation and simple linear multiple regression is done for the set of variables representing the performance of the firm and IC.

The domestic firms seem to be performing well and efficiently utilizing their IC as seen by the VAIC rankings. The empirical analysis found that the human capital was the one which was seen to have the major impact on the profitability and productivity of the firms over the period of study. Though there is a growing importance and efficiency in the utilization of the intellectual resources in the Indian pharmaceutical industry, the reflection of the same in creating an impact on the financial performance of the industry is seen to be missing in the empirical analysis.

The results suggest that in Indian scenario, the market is under developed and yet to reflect the performance of the firms especially in terms of the efficiency parameters and more so in terms of IC efficiency. The stakeholders still perceive the performance of the firm in terms of tangible assets and less in terms of intangible assets. This opens up vistas for further exploration of the findings to prove/disprove the same in other industries.

The paper has strong theoretical foundations, which have a proven record and applications. The methodology adopted has been research tested. There is an urgent and immediate need that the policy makers and corporate decision makers wake up to the need and start taking up the voluntary disclosures of IC, so that the perception among the stakeholders regarding value creation in the firm may get even more transparent.

This is one of the pioneering and seminal attempts to evaluate the IC and its relationship with the traditional measures of corporate performance in Indian pharmaceutical industry. This paper adds to the existing literature, provides a new dimension of performance measurement for knowledge industries in emerging economies and would evoke further research interests to explore different aspects of IC management and measurement in these economies.

This paper aims to examine empirically the behaviour of the impact of intellectual capital (IC) on firm performance during financial crises, having observed that there was no prior research carried out to examine whether the theoretically expected sustainable firm performance created by IC holds during a financially unstable situation in the economy.

The Pulic’s value-added intellectual coefficient method is used to measure IC. Firm performance is measured through productivity, profitability and revenue growth. Structural stability tests and dynamic regression models for panel data are used for the data of 191 banking firms listed on the New York Stock Exchange during 2000-2011.

The paper reveals, contrary to theoretical expectations, that the impact of IC on firm performance is inconsistent during financial crises. This behaviour emerges mainly because of the incapability of human capital, the main component of IC, to create value for the sample firms during financial crises.

The findings of the study are confined to financial crises that existed in the US economy during the period 2000-2011. The findings provide evidence that heterogeneity in the resource base of a firm plays a very minor role in the value creation process during turbulent economic situations. The findings also question the practicality of investing in intangible assets, including IC, during periods of financial crises.

This paper could be the first attempt to evident empirically that the heterogeneity in the resource base of the firm has a very minor role to play in the value creation process when instability exists in the macroeconomic environment.