PurposeThe purpose of this paper is to examine intellectual capital research (ICR) methods and critically analyse how they have been utilised. The data set for this analysis is based on examining IC papers published in specialist IC and important generalist accounting journals from the years 2000 to 2011.Design/methodology/approachThe basis of the analysis is Alvesson and Deetz's critical management framework of “Insight”, “Critique” and “Transformative redefinition” with the goal of widening the discourse about how to research IC. This paper is motivated by Guthrie et al., who identify a third stage of ICR which is “based on a critical and performative analysis of intellectual capital (IC) practices in action”.FindingsThis paper argues that there is an increasing performative research agenda however many researchers appear caught in an “evaluatory trap” (Olson et al.) whereby the researchers’ approach to ICR remains stuck in an ostensive approach (see Mouritsen) that characterises second stage ICR (see Petty and Guthrie). The paper also identifies how many accounting researchers are impacted by a “dominance structure” and suggests that they need to break free from the dominance of “accounting” practice before they can understand and realise the potential of IC.Research limitations/implicationsThe implication of this paper for ICR and practice is to create a continued discourse about evolving approaches to ICR so we can continue communicating leading edge, third wave ICR, which develops IC theory in practice and effective IC management through praxis.Originality/valueFrom 2004 onwards, Guthrie et al. claim the third stage was gaining impetus and thus this paper is novel because it investigates how ICR has transitioned and how ICR might continue to develop.
Purpose – Intellectual capital (IC) has been argued to be the key element of value creation in contemporary economies and this argument has been widely supported by empirical research, but mainly based on data from developed markets. The question of how IC and its elements work in other contexts remains under-researched and the limited empirical evidence that exists contradicts the conclusions drawn from developed countries. The purpose of this paper is to provide empirical insight into the relationship between three main elements of IC (human, relational and structural) and organizational performance in the particular context of Russian manufacturing companies. Design/methodology/approach – The sample comprises 240 Russian manufacturing companies. The data are collected by survey using the scales already validated in the international context. The authors use a two-step analysis – factor and regression analyses – to answer the research questions. Findings – The findings demonstrate that structural and human capitals positively influence organizational performance, explaining a quarter of its variation, while relational capital does not. Practical implications – The core managerial implication of this study is that developing structural capital is of particular importance for Russian manufacturing companies. Originality/value – The paper contributes to further development of IC theory by investigating its application in the new institutional and cultural context of Russia.
Purpose The purpose of this paper is to investigate whether specific corporate governance mechanisms, such as board size, board composition, leverage and firm size, tend to mitigate agency cost occurrence in the USA, Russia and Norway. Design/methodology/approach The authors analyze the sample of 243 US, 196 Russian and 175 Norwegian joint stock companies for the period 2004-2012. The regression analysis is applied to test the models. Findings It is revealed that larger boards increase agency costs (measured by asset utilization ratio and asset liquidity ratio) in all sample companies. The proportion of female members has a very slight positive effect in US companies, a negative influence on agency costs in the Norwegian sample and is not significant in the Russian market. The authors find that the big Russian and US companies in the samples of this paper have lower agency costs. Practical implications The results of this paper show which agency-mitigation mechanisms work more effectively in companies operating in the analyzed countries characterized by specific corporate governance models. Originality/value The main contribution of this paper to the empirical literature is that it extends the stream of agency research by introducing new, emerging markets: represented by Scandinavian (depicted by the Norwegian sample) and Russian companies. Considering that each market – US, Norwegian and Russian – represents significant distinguishing features in their institutional framework, the paper provides an important research setting in which corporate governance mechanisms can be analyzed from the perspective of a country’s peculiar characteristics. Unlike other agency cost studies, this paper accounts for the gender diversity component in the companies and contributes to gender diversity issues.
Purpose The purpose of this paper is to define the contribution of intellectual capital (IC) of the board of directors (BDs) in generating IC of a company, to develop a definition of the IC of the BDs, as well as two of its major elements: human capital (knowledge, skills, and experience of board members, etc.), and social capital (relationships and networking opportunities of board members), and to clarify the relationship between these elements and financial performance indicators of companies based on a literature review on the topic. Design/methodology/approach A literature review and analysis was applied as this study’s research design. Findings The authors suggest that IC is generated not only by company staff, but also by governing bodies, particularly the BDs, whose members are not always under contract with the company in the traditional sense. Members of the board use their knowledge, experience, and networking opportunities to build IC for effective monitoring, advising, and providing the company with resources. In this sense, the BDs serves as a source of IC for a company, being the main internal corporate governance mechanism that leads to value creation in a company, taking into consideration the interests of all stakeholders. Practical implications The research indicates that the personal characteristics of board members may influence the performance of a company. Therefore, companies should be recommended to carefully select candidates for nomination to the board. Originality/value This study contributes to further development of the concept of IC of the BDs by bringing together the theory in the field and the empirical results of studies on the various elements of board capital in a company’s value creation.
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