Ownership Concentration, Intellectual Capital, and Firm Performance: Evidence From Italy

doi:10.17265/1537-1514/2013.12.005

Cited by 5 publications

(2 citation statements)

References 40 publications

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“…Jensen and Meckling (1976) provided a theory about this, which is called agency theory. Prior studies explored the significant association between IC and OS (Al-Sartawi 2018; Celenza and Rossi 2013;Nassar et al 2018).…”

Section: Ownership Structure and Intellectual Capitalmentioning

confidence: 99%

Effects of Ownership Structure on Intellectual Capital: Evidence from Publicly Listed Banks in Bangladesh

Hossain,

Rana

2024

JRFM

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This study explored the impacts of ownership structure (OS) on intellectual capital (IC) and its components. Data were gathered from 31 Dhaka Stock Exchange-listed banks for five years, from 2017 to 2021, consisting of 155 observations as balanced panel data. The study used the modified value-added intellectual coefficient (MVAIC) model to track the IC efficiency. The robust fixed effects model was employed for regression analysis to test the hypotheses. The research found that sponsor director ownership is negatively associated with the MVAIC, human capital efficiency (HCE), and structural capital efficiency (SCE) but positively with relational capital efficiency (RCE). High institutional and public ownership are positively linked with SCE but negatively with RCE. Foreign ownership is only positively associated with banks’ MVAIC and HCE. The regression results showed that high institutional ownership (IO) significantly enhanced the MVAIC and HCE. Foreign and public ownership positively influenced banks’ MVAIC, HCE, and capital employed efficiency (CEE) but negatively impacted RCE. The findings of this study will help banks’ policymakers with ownership mixes for the optimum utilization of banks’ resources. Management may assess IC’s efficiency level for proper supervision and use of knowledge resources to boost bank profitability. Also, the findings will help investors make prudent investment decisions. This is the first study to focus on OS and IC with diverse elements in Southeast Asia, especially Bangladesh, an emerging market.

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Section: Ownership Structure and Intellectual Capitalmentioning

confidence: 99%

Effects of Ownership Structure on Intellectual Capital: Evidence from Publicly Listed Banks in Bangladesh

Hossain,

Rana

2024

JRFM

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“…However, some other studies showed the reverse results. Moreover, the CEE declined the firm's ROA [13,48,49] and ROE [13,50] and market performance (TQ) [51]. The influence of CEE on corporate performance is evident in various directions.…”

Section: Capital Employed Efficiency (Cee) and Companies' Performancementioning

confidence: 99%

Intellectual Capital, Firm Performance, and Sustainable Growth: A Study on DSE-Listed Nonfinancial Companies in Bangladesh

Rana

Hossain

2023

Sustainability

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Intellectual Capital (IC) stimulates corporate competitive advantages that can enhance firm performance and sustainable growth (SG). This study investigates IC’s affinity with and impact on accounting and market performance and SG of listed nonfinancial companies in Bangladesh. Data were collected from 69 nonfinancial companies for five years during 2017–2021, forming 345 observations. Modified Value Added Intellectual Coefficient (MVAIC) and steady-state models consecutively measured IC efficiency and Sustainable Growth Rate (SGR). The Robust fixed effect model was applied to confirm the highest reliable results. Results of MVAIC, Intellectual Capital Efficiency (ICE), and Human Capital Efficiency (HCE) showed a positive affinity with and impact on firm performance and SGR. Structural Capital Efficiency (SCE) showed an insignificant association with and impact on explained variables, whereas Relational Capital Efficiency (RCE) showed a significant negative relationship with and impact on the same. Tangible capital employed efficiency (CEE) enhanced firm performance but failed to confirm sustainable growth. The findings help business executives, government, and policymakers formulate strategic plans for sustainable resource utilization and can create value, competitive edges, and survival for firms. The study recommends that corporate entities should strive to enhance their efficiency in internal structural resources and relational activities to achieve better firm performance and sustainable growth.

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Managerial Ownership and Intellectual Capital Efficiency: Evidence From Poland

2014

CUBR

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This article contributes to the corporate governance and intellectual capital literature and examines the relationship between managerial ownership and intellectual capital efficiency (ICE). The results were obtained by investigating a sample of 1,057 firm-year observations and 292 companies listed on the Warsaw stock exchange between 2008 and 2013. Since the data span covers six years, panel data analysis (fixed-effects model) is employed. The empirical analysis indicates that managerial ownership is negatively related to human capital efficiency (HCE), which is partly consistent with some previous studies. As such, it indicates the entrenchment effect of insider ownership. Moreover, the study concludes that these and previous results on the relationship between managerial ownership and IC efficiency are not robust due to ICE measures, which now are employed in research.

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Ownership Concentration, Intellectual Capital, and Firm Performance: Evidence From Italy

Cited by 5 publications

References 40 publications

Effects of Ownership Structure on Intellectual Capital: Evidence from Publicly Listed Banks in Bangladesh

Effects of Ownership Structure on Intellectual Capital: Evidence from Publicly Listed Banks in Bangladesh

Intellectual Capital, Firm Performance, and Sustainable Growth: A Study on DSE-Listed Nonfinancial Companies in Bangladesh

Managerial Ownership and Intellectual Capital Efficiency: Evidence From Poland

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