Does Intellectual Capital Affect Financial Leverage of Chinese Agricultural Companies? Exploring the Role of Firm Profitability

Jin, Guangchun; Xu, Jian

doi:10.3390/su14052682

Cited by 14 publications

(10 citation statements)

References 85 publications

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“…The above is within the framework of a 2.22 19907 probability, a t-statistic of 3.47557137, and an F-statistic equal to 0 . Also, the results of Chowdhury et al (2018) and Jin and Xu (2022) are consistent with the validation of hypothesis 1.…”

Section: Discussion Of the Panel Data Model Resultssupporting

confidence: 82%

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Valor adicionado a partir de la eficiencia productiva del capital intelectual en grandes empresas agroindustriales

Cabana

González

2023

cuad.adm.

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El objetivo de este artículo, es proponer el Value-added Intellectual Coefficient (VAIC) como una herramienta que mide la creación de valor adicionado a partir de la eficiencia productiva del capital intelectual en grandes empresas agroindustriales del departamento del Magdalena, Colombia; para ello, se elaboraron estados de valor adicionado, luego se determinaron los índices propuestos por la metodología VAIC, y, finalmente, se confirmaron las hipótesis de asociación y relación significativa entre el VAIC e indicadores financieros. En los resultados empíricos, basados en la validación de hipótesis, estimadores, análisis de regresión lineal múltiple y panel de datos, la mayoría de las empresas analizadas obtuvieron una nota con concepto bueno frente a la creación de valor adicionado; así mismo, se validó la fuerte capacidad de explicación del VAIC, en sí, de la eficiencia del capital humano, con respecto a los valores obtenidos en la utilidad operacional; resultado que confirma los supuestos de la teoría de los recursos y capacidades.

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Section: Discussion Of the Panel Data Model Resultssupporting

confidence: 82%

“…The application of ROA to measure financial performance is configured as one of the most representative variables in this type of measurement (Jin and Xu, 2022;Xu and Zhang, 2021;Chowdhury et al, 2019;Tiwari and Vidyarthi, 2018;Bontis. et al, 207;Nawaz and Haniffa, 207;Cahill.…”

Section: Regardingmentioning

confidence: 99%

Valor adicionado a partir de la eficiencia productiva del capital intelectual en grandes empresas agroindustriales

Cabana

González

2023

cuad.adm.

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“…Relational Capital focuses on the loyalty of an organization’s workers and external groups (Bontis et al, 2000; Khalique et al, 2015; Vaz et al, 2019). Customers are Relational Capital’s most valuable asset (Jin & Xu, 2022). In several studies, customer capital is used rather than relational capital (Ferreira & Martinez, 2011).…”

Section: Literature Reviewmentioning

confidence: 99%

Unleashing Potential: Overcoming Bottlenecks and Catalyzing Innovations in Intellectual Capital Intellectualization of Small and Medium-Sized Enterprises in Jiangsu During the Post-Industrial Era

Abredu,

Li,

Essien

et al. 2023

Sage Open

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The current research attempts to determine the degree to which three primary elements (Human, Structural, and relational capital) and intellectual capital are related to profitability of SMEs technological inventions in China’s Jiangsu province of as part of the country’s intellectualization process in the post-industrial era. The research utilizes data from 1,450 SME listings on the Shenzhen stock market between 2012 and 2020. The VAICTM model was used in this inquiry. Using PLS-SEM, the study evaluated four significant hypotheses. The research indicates that human and structural capital have a substantial meaningful correlation regarding SMEs success. The research also discovered a favorable association between human and structural capital and technological innovation in Jiangsu province throughout the post-industrial period. However, a strong negative correlation occurred between relational capital and the financial performance of small and medium-sized enterprises (SMEs). The research uncovered a substantial positive relationship between the technological innovation of SMEs and their financial success. The link between intellectual capital (HC, SC, and RC) and company performance was shown to be mediated and moderated by technological innovation. According to the findings, technical innovation considerably moderates the link between Human Capital and firm performance. The research indicated that Technical Innovation (TI) moderates the association between Structural Capital (RC) and firm performance. In contrast, Technical Innovation (TI) does not alter the association between Relational Capital (RC) and firm success in a substantial way.

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“…Dudley and Zhang (2015) investigated the association between the societal trust and corporate cash holdings. Jin and Xu (2022) show that firms with higher intellectual capital have lower financial leverage, whereas Shahdadi et al (2022) indicate a positive impact of intellectual capital on liquidity. Recently, researchers have started to focus on a new research area related to the Cash holdings and financial leverage 73 determinants of corporate financial policies, namely, environmental issues such as corporate environmental performance (Chang et al, 2018;Cuesta et al, 2019;Fard et al, 2019;Kalash, 2021a;Harper and Sun, 2019;Dimitropoulos and Koronios, 2021;Liao et al, 2021), air pollution (Li et al, 2019;Li et al, 2021;Tan et al, 2021a) and climate change (Yu et al, 2022).…”

Section: Introductionmentioning

confidence: 97%

The effect of air pollution on cash holdings and financial leverage

Kalash

2023

JGR

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Purpose The purpose of this paper is to investigate whether air pollution has significant impact on corporate cash holdings and financial leverage. Design/methodology/approach The data of 199 firms listed on Istanbul Stock Exchange during the period 2009–2020 is analyzed by using pooled ordinary least squares and two-step system generalized method of moments models. Findings The results indicate that firms in regions with high air pollution tend to increase cash level. In addition, the positive effect of air pollution on cash level is stronger and more significant for environmentally sensitive firms and firms with low operational and distress risk. The results also show insignificant effect of air pollution on financial leverage. Practical implications Firms in regions with high air pollution should conduct proactive environmental protection procedures and enhance their eco-efficiency instead of holding excess cash that could negatively affect financial performance. In this context, policymakers should provide financial facilities to firms located in regions with high air pollution and that have low ability to finance environmental investments. On the other hand, the environmental laws and regulations introduced by regulatory authorities can enhance the economic development and firm performance by decreasing the adverse influences of air pollution on corporate financial policies. Originality/value To the best of the author’s knowledge, this research is one of few that examines the impact of air pollution on corporate cash holdings and financial leverage in emerging markets.

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Does Intellectual Capital Affect Financial Leverage of Chinese Agricultural Companies? Exploring the Role of Firm Profitability

Cited by 14 publications

References 85 publications

Valor adicionado a partir de la eficiencia productiva del capital intelectual en grandes empresas agroindustriales

Valor adicionado a partir de la eficiencia productiva del capital intelectual en grandes empresas agroindustriales

Unleashing Potential: Overcoming Bottlenecks and Catalyzing Innovations in Intellectual Capital Intellectualization of Small and Medium-Sized Enterprises in Jiangsu During the Post-Industrial Era

The effect of air pollution on cash holdings and financial leverage

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