Intellectual capital and value creation in Spanish firms

Abstract

If you would like to write for this, or any other Emerald publication, then please use our Emerald for Authors service information about how to choose which publication to write for and submission guidelines are available for all. Please visit www.emeraldinsight.com/authors for more information. About Emerald www.emeraldinsight.comEmerald is a global publisher linking research and practice to the benefit of society. The company manages a portfolio of more than 290 journals and over 2,350 books and book series volumes, as well as providing an extensive range of online products and additional customer resources and services.Emerald is both COUNTER 4 and TRANSFER compliant. The organization is a partner of the Committee on Publication Ethics (COPE) and also works with Portico and the LOCKSS initiative for digital archive preservation. AbstractPurpose -The purpose of this paper is to explore and to explain the influence of representative variables of human capital and structural capital on the creation of business value. Design/methodology/approach -An exploratory analysis was initially performed on the degree to which firms actually used human and structural capital indicators, through a survey sent out to Spanish firms with a staff of 25 employees or more. Subsequently, by means of an explanatory analysis, the relationship was studied between the use made of the aforementioned indicators and a set of variables selected as representative of value creation. The information on value creation was taken from the Sistema de Análisis de Balances Ibéricos (SABI-AMADEUS) database. Moreover, in an attempt to corroborate the results of this explanatory analysis, a further independent variable was simultaneously introduced taken from the financial statements held on the same database and applied to the same sample of firms; known as the value added intellectual coefficient (VAIC), it analyses value creation efficiency. Findings -The explanatory analysis of multiple lineal correlations and regressions allows us to confirm the positive relation that exists between the use of human and structural capital indicators, and value creation measured by sales growth. Simultaneously, higher levels of the VAIC, in particular for the component that refers to the sum of the coefficient of human capital and structural capital, are also related to improvements in competitiveness reflected through an increase in sales figures. Research limitations/implications -Despite having identified a relation between intellectual capital and value creation, the study finds no evidence of a significant relationship between the use of human capital and structural capital indicators and dependent variables other than sales growth, such as return on assets (ROA) or productivity. The authors would have preferred to have obtained information from a larger number of firms, which would perhaps have contributed to finding new significant relations. This limitation suggests that further research is needed, such as carrying out large-scale longitudinal studies using...

Impact of Intellectual Capital on the Organizational Performance of Islamic Banking Sector in Malaysia

“…The findings of this study also supported with the previous studies such as (Abdullah & Sofian, 2012;Ahmad Sharabati et al, 2013;Bontis et al, 2000;Castro & Delgado-Verde, 2012;Díez et al, 2010;Khalique et al, 2011;Ngah & Ibrahim, 2009;Sharabati, Jawad, & Bontis, 2010). The findings of this study could be encouraged to the concerned authorities to explore and capitalize their intangible assets to enhance the performance of Islamic Banks operating in Malaysia.…”

“…There is no doubt that there are many other important factors that contribute to enhance the performance of organizations but in a knowledge-based economy, many researchers such as (Bataineh & Al Zoabi, 2011;Bontis et al, 2000;Bueno, Salmador, & Rodríguez, 2004;Díez, Ochoa, Prieto, & Santidrián, 2010;Khalique, Shaari, & Isa, 2011;Ordonez de Pablos, 2004) have found that intellectual capital is one of the most important and strategic assets for the success of organizations. They argued that in a competitive business environment intellectual capital is considered as the life blood of knowledge intensive organizations.…”

Company’s Value Added and Its Intellectual Capital Coherence

“…According to this definition, J. M. Díez et al (2010) focused only on human capital and structural capital. Human capital was considered as the sum of knowledge, skills and experience that have employees in the company and structural capital was assumed as the amount of all structures and mechanisms that an employee can use in order to gain his goals.…”

“…Value added Human capital Structural capital Díez et al (2010) Intellectual capital -related to value added and knowledge productivity.…”

“…Many scientists emphasize the importance of company's value added as the main factor of a normal and stable every company's activity (Kay 1995;Berry 1996;Herling 2000;Malgioglio et al 2001;Zapata 2001;McLean 2006;Godoy 2008;Wang, Swanson 2008;Pitelis 2009;Bowman, Ambrosini 2010;Bang et al 2010;Díez et al 2010;Hughes 2010). Every company is trying to increase its value added as much as possible.…”