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This study aims to examine the relationship between intellectual capital and profitability in the pre-COVID-19 period and its change during the pandemic, focusing on Slovak small and medium enterprises (SMEs). The novelty of this study is the analyses of the crisis period conducted on a sector level via linear mixed-effects models in a Central and...
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... classification for an SME is as follows: a) less than 250 employees: b) annual sales turnover below 50 million Euro; or c) total asset value below 43 million Euro. The distribution of the data sample per sector and its average VAIC values in both years are in Table 2. Sectors with the lowest values of VAIC in the prepandemic period were tourism and gastronomy, sales and maintenance of vehicles, wood and paper, and the automotive industry. ...Citations
... Estudios previos sugieren que las empresas más maduras aplican su conocimiento mediante el aprendizaje organizacional, lo que afecta su DE (Papíková y Papík, 2022). Asimismo, los negocios con estructuras organizativas de mayor edad tienen un alto potencial para explotar las CDA, apoyándose en la productividad y la acumulación de talento humano con habilidades de gestión que se desarrollan con el tiempo (Arrighetti et al., 2021). ...
The tourism sector of Cali, Colombia is fundamental for the development of the city, although it has recently had crises, mainly caused by the Covid-19 pandemic and social protests, it has been in the process of slow recovery and ups and downs due to a political environment and changing economic. In this context, this study aims to analyze how dynamic absorptive capacity (DAC) and innovation activities (ACTINN) affect performance (DE), the moderating role played by age, company size and gender of the entrepreneur and its possible significant differences in 378 MSMEs in the tourism sector of Cali. The analysis carried out using partial least squares structural equations (PLS-SEM) and multigroup analysis reveal that both absorptive capacity (CDA) and innovation activities (ACTINN) have a significant impact on business performance (DE). However, the age and size of the companies do not influence these relationships. Significant differences were found in the relationship between ACTINN and DE, moderated by the gender of the entrepreneur or manager, while the relationship between CDA and DE showed no differences in tourism MSMEs in Cali, Colombia. These findings have important theoretical and practical implications for policy makers, academia and entrepreneurs of tourism MSMEs in Cali.
... Many MSMEs can play a role in mitigating climate change by reducing carbon emissions and using natural resources more wisely (Farida et al., 2021;S. D. Lestari et al., 2020;Papíková &;Papík, 2022). Good performance of environmentally friendly MSMEs can contribute to reducing negative impacts on the environment and support climate action goals. ...
... Many MSMEs can play a role in mitigating climate change by reducing carbon emissions and using natural resources more wisely (Farida et al., 2021;S. D. Lestari et al., 2020;Papíková &;Papík, 2022). Good performance of environmentally friendly MSMEs can contribute to reducing negative impacts on the environment and support climate action goals. ...
... Many MSMEs can play a role in mitigating climate change by reducing carbon emissions and using natural resources more wisely (Farida et al., 2021;S. D. Lestari et al., 2020;Papíková &;Papík, 2022). Good performance of environmentally friendly ...
The current global phenomenon shows a rapid increase in the adoption of digital technology, which has changed various aspects of life, including the micro, small and medium enterprises (MSMEs) sector. This study aims to examine effective digital marketing strategies to improve MSME performance in supporting the Sustainable Development Goals (SDGs) Program. The novelty of this research lies in a holistic approach that integrates various aspects of digital marketing, in the context of SDGs implementation. The urgency of this research is driven by the urgent need for MSMEs to remain competitive and relevant in the digital era, as well as the crucial role in the national economy and the achievement of SDGs goals. The method used in this study is Systematic Literature Review (SLR) by collecting relevant previous research through publish or perish Then analyze the article and crucify related to keywords. The results show that the use of appropriate digital marketing can help MSMEs contribute more effectively to the achievement of SDGs, especially in terms of poverty alleviation, job creation, and inclusive economic growth. The implications of this research emphasize the importance of policy support and continuous training for MSMEs in utilizing digital technology, as well as collaboration between the public and private sectors to accelerate the digital transformation of MSMEs.
... Throughout different periods, epidemics have spurred advancements in medicine, public health, and various fields (Vuong et al., 2022). Here is an overview of how some historical epidemics have influenced the development of intellectual capital: The Black Death, a devastating pandemic of bubonic plague, swept through Europe in the 14th century (Papíková & Papík, 2022). Despite the immense loss of life, this epidemic had cultural repercussions (Kirchner, Ipsen & Hansen, 2021). ...
... In advanced economies, the impact of product The Impact of the COVID-19 Pandemic on Profitability Indicators in the Hospitality Sector competition on organisational performance has gained the attention of experts, who in many cases have investigated its impact on business profitability (Liu et al., 2022). The authors Papikova and Papik (2022) hypothesised a positive relationship between profitability and company size, age, efficiency of capital employed, and efficiency of structural and human capital in the period before Covid-19. Companies with a higher Value-Added Intellectual Coefficient (VAIC) score achieved higher profitability values in both return on assets (ROA) and return on equity (ROE). ...
... Companies with a higher Value-Added Intellectual Coefficient (VAIC) score achieved higher profitability values in both return on assets (ROA) and return on equity (ROE). Papikova and Papik (2022) declared that at the sectoral level, the following sectors were most affected by the pandemic: tourism, gastronomy, and gambling, due to various restrictions and closures. The first significant finding of the authors Czodorova and Gnap (2023) was that the selected investigated indicators, such as asset profitability, sales profitability, transport company size, and age of the transport company, showed a significant positive difference in their average values in the period after obtaining ISO 9001 certification compared to the period without certification. ...
Many business entities in Slovakia felt the pressure of government restrictions during the Covid-19 pandemic, especially entities from SK NACE I: accommodation and food services activities. The main objective of this article is to analyse the return on equity, assets and sales in selected sectors in Slovakia and find out if the Covid-19 pandemic has an effect on these profitability ratios. Firstly, we use ex-post financial analyses and then Friedman’s nonparametric test to find those groups of years between which there are differences. The study period 2016-2021 includes comparisons before the Covid-19 period, as well as dealing with the pandemic era. Our investigation concerns 321 business entities from SK NACE I, especially from Division 56: Food and beverage service activities. The findings showed the impact of the pandemic on profitability indicators such as total assets, equity, and sales. Therefore, it was feasible to establish that these are the indicators most affected by the pandemic, such as the economic outcome after taxes, assets, equity, and sales. Additionally, significant differences in indicators were confirmed in the pairs of years 2019–2020 and 2019–2021. Significant changes were confirmed between the years provided, which may most likely be attributed to the outbreak of the pandemic of the viral disease Covid-19. This study and its results may have added value for the management of business entities and the government of the Slovak Republic by stimulating the negative impact of the Covid-19 pandemic on firms in these sectors.
... The study revealed a significant influence of Tobin's q and market to book value on profitability, as measured by ROE and EPS, emphasizing the importance of intellectual capital in enhancing sector productivity and effectiveness. Papíková and Papík (2022) investigated the relationship between intellectual capital and profitability in Slovak SMEs before and during the COVID-19 pandemic. Their study, using linear mixed-effects models on 24,351 firms, found that higher VAIC scores correlated with increased profitability pre-pandemic, but structured and capital employed efficiencies had negative impacts during the pandemic, particularly in sectors like tourism and gambling. ...
Research Question: How does intellectual capital, measured by the Value Added Intellectual Coefficient (VAIC) and its components, influence the financial performance of banks in North Macedonia? Motivation: In the evolving landscape of the banking sector, understanding the impact of intellectual capital on financial performance is crucial. This study builds upon existing research (Appuhami, 2007; Ozkan et al., 2017; Joshi et al., 2013) to explore this relationship in the specific context of North Macedonia. It addresses the research gap by using the VAIC model to quantify intellectual capital and examines its effect on Return on Assets (ROA) and Return on Equity (ROE). Idea: The research employs linear regression models to analyze the effect of intellectual capital, as measured by VAIC and its components, on the financial performance indicators ROA and ROE in Macedonian banks. Data: The study analyzes a decade of data (2012-2021) from ten Macedonian banks, using the VAIC model to measure intellectual capital. Tools: The study utilizes linear regression analyses with the Statistical Package for the Social Sciences (SPSS) to examine the relationship between intellectual capital and financial performance. Findings: The study finds a significant and positive impact of VAIC and its components on both ROA and ROE. These results underscore the importance of intellectual capital in enhancing financial performance in the banking sector. Notably, the study reveals a high average VAIC value among Macedonian banks, indicating their substantial intellectual capability. Contribution: This research adds to the literature by elucidating the relationship between intellectual capital, measured through VAIC, and financial performance in the banking sector of North Macedonia.
... Preceding its official declaration as a pandemic by the World Health Organization (WHO), various countries implemented partial or complete lockdowns in an effort to curb its spread. These measures, including social distancing and lockdown policies, significantly affected businesses, forcing some into remote work setups while others grappled with restrictions, leading to closures (Papíková and Papík, 2022). Global disruptions to demand and supply chains had profound consequences on firm operations, causing a shift in strategies and necessitating unique coping mechanisms (Gu et al. 2020;Mahmud et al. 2021). ...
... Given the unprecedented emergence of the coronavirus in 2020, which had far-reaching impacts in the domains of transportation, economics, and, most significantly, public health, several studies were undertaken to evaluate its repercussions on business operations, atmospheric conditions, political responsibility, and intellectual endowment (Aboagye et al. 2021;Broadbent 2020;Papíková and Papík 2022). As expected, research on covid-19 is progressing after it was declared a pandemic by the World Health Organization (WHO). 2 A recent study by Tarighi et al. (2023) discovered that during the COVID-19 pandemic, the previously established positive correlation between board independence, board financial expertise, size, and independence of the audit committee with firm performance was found to have reversed, although the positive impact of board meeting frequency on corporate profitability remained stable, even amidst the outbreak of COVID-19. ...
... In addition to the keywords in Fig. 9, others were 'leadership support, knowledge management, dynamic capability, and firm performance.' Mainly featured articles in the cluster were 'Intellectual Capital and Supply Chain Resilience' (Mubarik et al. 2022), 'Intellectual Capital and Resilience: evidence from two cases of SMEs' (Agostini and Nosella 2022), 'Intellectual Capital and Its impacts on SMEs profitability during covid-19 pandemic' (Papíková and Papík 2022) and 'Knowledge management in two universities before and during the COVID-19 effect in Peru' (Arias Velásquez and Mejía Lara 2021). ...
This paper conducts a bibliometric review of studies investigating the impact of Covid-19 on firm performance. Utilizing a dataset comprising 230 scientific articles from 135 journals and authored by 679 contributors sourced from the Web of Science database since the pandemic outbreak in 2020, our analysis employs CiteSpace and R Studio’s Biblioshiny software for scientific mapping and visualization. The study identifies Sustainability as the most productive journal, with predominant regional contributions originating from China. Through keyword clustering, emergent themes within the domain are delineated, focusing on supply chain resilience and management, corporate governance and performance, financial flexibility and performance, entrepreneurial orientation and business survival, and intellectual capital and profitability. Our findings contribute to a comprehensive understanding of the research landscape, revealing patterns in intellectual, conceptual, and social structures within the field. The paper proposes avenues for future studies and discusses implications for both policy and management by employing various keyword analysis techniques.
... The Black Death, a devastating pandemic of bubonic plague, swept through Europe in the 14th century (Papíková & Papík, 2022). Despite the immense loss of life, this epidemic had cultural repercussions (Kirchner, Ipsen & Hansen, 2021). ...
The latent growth curve is a technique of structural equations which propose that psychological and social phenomena can be modeled in relationships between factors and indicators. The objective of this work was to establish the differences that reflect the learning of the use of anti-pandemic devices. A longitudinal study was carried out from 2020 to 2024 in a sample of 100 students from a public university in central Mexico who were selected from high school to university. The results show that there are differences, but these are not significant. Such findings agree with studies related to stigma towards anti-pandemic policies. In relation to this state of the art, it is recommended to extend the study to the stigma derived from confinement and distancing in order to establish the learning curve of self-care and prevention. The implications of the study on treatment adherence suggest that stigma would be a latent factor that would be mediating the relationship between the intercept factor and the latent slope factor.
... La estimación de indicadores financieros cuyo comportamiento será analizado en la sección de resultados se centran en identificar la rentabilidad y el endeudamiento de las empresas (ver Tabla 2). Hoy, para efectos comparativos el espacio de tiempo comprendido entre el 2018 a 2019, se considera como el periodo previo a pandemia, mientras que los períodos del 2020 al 2022 se consideran post pandemia, lo anterior buscando una uniformidad comparativa de los indicadores financieros que permita establecer el impacto financiero y el grado de recuperación con una observación cuantitativa del rendimiento de estas empresas en torno a los indicadores financieros estimados (Papíková y Papík, 2022 La clasificación del tamaño de las organizaciones, se realizará con base en las disposiciones expuestas en el decreto 957 del 2019, que establece que la clasificación del tamaño de una organización se debe hacer conforme a sus ingresos totales anuales, para efectos de la clasificación en esta investigación se tomará como periodo de referencia los ingresos facturados a cierre del año 2022. ...
El objetivo de este artículo es analizar el comportamiento de la rentabilidad y el endeudamiento de pequeñas y medianas empresas del sector caficultor colombiano para periodos previos y posteriores al COVID-19. A nivel metodológico, la investigación tiene un enfoque cuantitativo, teniendo como insumo principal la información anual del sistema integrado de información societaria (SIIS) para los periodos 2018 a 2022. Los resultados permiten identificar los valores para las diferentes series de tiempo en ratios de rentabilidad como retorno sobre el activo y retorno sobre el patrimonio, así como el endeudamiento externo, a corto y largo plazo. El estudio permite concluir que las pequeñas empresas del sector tuvieron una mayor afectación financiera experimentando una disminución considerable en sus índices de rentabilidad y recurriendo al aumento de la deuda a largo plazo.
... The Black Death, a devastating pandemic of bubonic plague, swept through Europe in the 14th century (Papíková & Papík, 2022). Despite the immense loss of life, this epidemic had cultural repercussions. ...
The pandemic has been a watershed in the knowledge management that is carried out in Higher Education Institutions (HEIs). Studies on vulnerability and resilience risks highlight material, financial, and human resources as the central axis of the knowledge network, although research on stigma indicates that mistrust prevails between decision-makers and those who carry it out. Therefore, the objective of this work was to contrast the hypotheses related to knowledge management as a regulatory process of trust relationships between the parties involved. A cross-sectional, exploratory, and correlational study was carried out with a sample of 10 professional practitioners and social workers involved in COVID-19 care. The results show that a structure of nodes prevails that begins with innovation, continues with competitiveness, and ends with efficiency as central, unifying, and structural axes of information translation and knowledge transfer. The results are not extensive to the university community, although they are innovative because they highlight trust as the guiding principle of knowledge management.
... Intellectual capital is a combination of knowledge, information, processes that enables organization to achieve competitive edge and value creation (Alvino, Di Vaio, Hassan, & Palladino, 2021). A large number of researchers proposed three primary components of intellectual capital which includes human capital, structural capital and relational capital which are linked with knowledge embedded in individuals, organizational processes, internal structures, systems and external networks (Bayraktaroglu, Calisir, & Baskak, 2019;Gupta, Goel, & Bhatia, 2020;Hussain & Mehar, 2021;Papíková & Papík, 2022;Soewarno & Tjahjadi, 2020). ...
Purpose: 21st century witnesses a great shift from production-oriented businesses to knowledge oriented and technology-driven businesses, where intangible resources play a pivotal role in value creation for the organizations. In this dynamic intellectual capital and competitive environment, global economy is shifting from a tangible resource economy to an intangible resource economy. The aim of this study was to investigate how the intellectual capital components and organizational innovation influence sustainable organizational performance. Design/Methodology/Approach: A survey was conducted to collect data from the banking sector professionals working in Pakistan. Simple random technique was employed, 329 responses were collected. The data was analyzed through SmartPLS. Findings: Results reveals that intellectual capital components have positive and significant association with organizational innovation and sustainable organizational performance. Current study also demonstrates the partial mediation of organizational innovation between the association of intellectual capital components and sustainable organizational performance. Implications/Originality/Value: It is concluded that intellectual capital and its components help the organizations to enhance their organizational innovation, which would ultimately boost sustainable organizational performance. Current study findings would provide useful insights for researchers, managers, and practitioners.
