Empirical Study on the Relationship between Intellectual Capital and Corporate Value: A Quantile Regression Approach

Ji, Yicheng; Fu, Chuanrui

doi:10.1109/icmss.2009.5302116

Cited by 4 publications

(2 citation statements)

References 23 publications

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“…A comprehensive survey conducted by Maji and Goswami (2015) relating to IC research during the last two decades also indicate that a considerable number of researchers have found insignificant influence of SCE on profitability and market value of firms. Earlier researchers have also pointed out that the VAIC model fails to capture appropriately the SC component of IC (Nazari and Herremans, 2007;Ji and Fu, 2009;Clarke et al, 2011;Ismail and Karem, 2011). Arguing in a similar vein, Stahle et al (2011) have criticised the inadequacy of the model as SC contains no element of relational capital.…”

Section: Introductionmentioning

confidence: 99%

“…Some researchers (Bosworth and Rogers, 2001;Nazari and Herremans, 2007;Ji and Fu, 2009) have argued that the existing VAIC model needs to be modified to capture SC appropriately by incorporating research and development (R&D) cost (as a proxy for innovation capital) and marketing expenses (as a proxy for relational capital) as value creating entity instead of considering expense as in the traditional accounting system. Few researchers have implemented modified or extended version of VAIC in their study to examine the association between IC and firm performance (Chang and Hsieh, 2011;Ghozali and Ulum, 2014;Gupta, 2014, 2015).…”

Section: Introductionmentioning

confidence: 99%

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Intellectual capital and firm performance in India: a comparative study between original and modified value added intellectual coefficient model

Maji

Goswami

2017

IJLIC

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Abstract:With the dawn of a knowledge economy, the role of intellectual capital in value creation and sustainable competitive advantage became evident. With increasing importance of intellectual capital, the emphasis on its management and measurement increased manifolds. The Pulic's value added intellectual coefficient (VAIC) model is one such method that has been widely used for measuring intellectual capital and examining the link between IC and firm performance. However, this model has been criticised because of its inefficiency to capture the structural capital of a firm. The present study is a modest attempt to modify Pulic's VAIC model with the primary intention of dealing with the structural capital measurement deficiency. Employing panel data and quantile regression on Indian firms for a period of 15 years from 2000-2001 to 2013-2014, the study finds that both original VAIC model and the modified model advocate in favour of the positive influence of IC and its components on firm performance. With respect to structural capital, the study reveals that the modified VAIC model to some extend captures the structural capital efficiency of a firm more efficiently than the original model.

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