Intellectual Capital and Profitability: A Firm Value Approach in the European Companies

Martins, María Manuela; Lopes, Ilídio Tomás

doi:10.3846/btp.2016.673

Cited by 18 publications

(16 citation statements)

References 23 publications

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“…Each management affects the company's ability to generate profits (profitability). Researches on working capital and profitability had been carried out in some countries and found a positive relationship between the two (Maneerattanarungrot and Donkwa, 2018;Martins and Lopes, 2016;Mun and Jang, 2015;Ukaegbu, 2014). Therefore, the second hypothesis that can be formulated is as follows:…”

Section: Hypothesis Developmentmentioning

confidence: 99%

Profitability Determinants of Manufacturing Firms in Indonesia

Susilo¹,

Wahyudi²,

Pangestuti³

2020

IJEBA

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Purpose: The purpose of this study is to explore the most significant profitability determinants of the manufacturing companies in Indonesia. Design/Methodology/Approach: Several independent variables examined for their influence on profitability were working capital, firm size, firm growth, capital structure, and non-debt tax shields. The sample of this study were manufacturing firms listed on the Indonesia Stock Exchange from 2010 to 2017. The number of samples were 350 manufacturing companies. Findings: The results of this study indicate that working capital, firm size and firm growth were positively related to profitability. Meanwhile, capital structure and non-debt tax shield did not affect profitability. The findings of this study were consistent with the pecking order theory and the financial agency theory. Practical implications: This study implies that managers need to adjust their investment needs with the profitability that has been achieved and the total assets of the company, and to maximize the value of the company by managing current assets so that the rate of the return on marginal investment is equal to or greater than the cost of capital used to finance the current assets. Furthermore, financial managers must be able to determine essential investment objectives by maximizing the use of assets and fixed assets which are expected to make the company to enjoy the sales growth in the future. Originality/Value: Although this study organically builds upon recent studies about the firms' profitability, it conducted in the new administrative setting in Indonesia, which is the Widodo's administration. Widodo's administration supports the manufacturing industry to be able to compete globally.

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Section: Hypothesis Developmentmentioning

confidence: 99%

Profitability Determinants of Manufacturing Firms in Indonesia

Susilo¹,

Wahyudi²,

Pangestuti³

2020

IJEBA

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“…Similar research in the field of studying the links between intellectual capital and organizational performance illustrates that the higher performance depends on abilities of organization to optimise the human capital utilisation for the sake of optimising its structural capital (Urban and Joubert 2017). Investigating the knowledge role in profitability increase, it was also argued, that the level of knowledge intensity of companies, which is the feature of intangibility, has strong relations with their financial success (Martins and Lopes 2016). Human intellectual capital as well as gender has a sufficient influence on remuneration.…”

Section: Making Decisions On Hc Investmentmentioning

confidence: 99%

Human Capital Factors and Remuneration: Analysis of Relations, Modelling of Influence

Bilan

Mishchuk

Dzhyhar

2017

Business: Theory and Practice

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This paper argues that basing on existing theoretical studies of human capital factors fuzzy logic method shall be applied in in identifying their impact upon the interest on human capital use (wages). The suggested approach allows determining the factors impossible to describe through quantitative indicators, i.e. gender, education level, experience. Unlike traditional approaches, such as ranked assessments or investment cost indicators in the formation of certain human capital components, the use of the proposed methodology for analysing the link between human capital factors and remuneration allows applying real characteristics of the human capital of employees. Appropriate assessment can be the basis of modelling and correction of relations in determining wages and suitable decision-making regarding the development and changes in the structure of the human capital of the company.

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“…(Herrera and Sanchez-Gonzalez, 2012;Oh et al, 2014). (Buchheit et al, 2012;Martins and Lopes, 2016).…”

Section: Conclusion Research Contribution and Directions For Future Researchmentioning

confidence: 99%

“…The firm value on state owned enterprises (SOEs) financial performance as an implications within corporate governance and many factors have inquiry in this decade particularly conducted within an emerging markets that its would be the foreign investments as the important channel to raise the capital (Chang et al, 2013;Guiral, 2012;Habib and Jiang, 2015;Macinati and Anessi-Pessina, 2014;Martins and Lopes, 2016;Peter et al, 2017;Pradhan, 2016). Thus, the higher of The firm value on SOEs that reflected the firm's performance could leads many investors with their good perceptions to the corporate-performance and related with the firm price of the stocks.…”

Section: Introductionmentioning

confidence: 99%

An Increased on Firm Value: Insight in State Owned Enterprises That Listed on the Indonesia Stock Exchange 2013-2018

Khaq¹,

Syahria²,

Susilo

2020

IJEFI

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In an emerging market, the firm value has become an important variable for raise capital and sustainable-performance within the national economic development that conducted within Indonesian as the most economically-charged. The purpose of this study is to examine an effects of corporate governace perceptions ındex (CGPI), debt to equity ratio (DER), size of firm, and exchange rate, on state owned enterprises (SOEs) financial performance, and their implication on SOEs values that listed on the Indonesia Stock Exchange in 2013-2018. Furthermore, the quantitative approach conducted within inquiry this research that used Eviews ver. 9.0 for analysis the panel data. Hence, the SOEs that listed on the Indonesia Stock Exchange in 2013-2018 as the populations. This study found that CGPI, DER, and exchange rate have significant affected on SOEs Financial Performance that listed in Indonesia Stock Exchange and the simultaneously contributions with R-square of 0.975 and except firm size that is not significant. Finally, the results also indicate firms may have to these variables and financial performance was a significant impact on SOEs values, within the R-square of 0.874, even if SOEs are not doing business in our country and sustainability business.

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Intellectual Capital and Profitability: A Firm Value Approach in the European Companies

Cited by 18 publications

References 23 publications

Profitability Determinants of Manufacturing Firms in Indonesia

Profitability Determinants of Manufacturing Firms in Indonesia

Human Capital Factors and Remuneration: Analysis of Relations, Modelling of Influence

An Increased on Firm Value: Insight in State Owned Enterprises That Listed on the Indonesia Stock Exchange 2013-2018

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