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Intellectual capital: Realizing your company''s true value by finding its hidden roots
... Therefore, the hypothesis in this study is as follows: H1: Environmentally oriented organizational culture has a significant positive effect on green organizational identity. Edvinsson and Malone (1997) define a company's competitive advantage as a condition in which competitors are unable to replicate the company's competitive strategy. Competitors also cannot get the benefits that the company derives from its competitive strategy tools. ...
... Environmentally oriented capabilities result from the utilization of the company's resources and competencies to build a green organizational identity and competitive strategic advantage through green innovation. Companies can control their assets, capabilities, culture, and knowledge to formulate and implement strategies to assist them in maintaining the company's competitive level (Edvinsson & Malone, 1997;Fama & Jensen, 1983). Companies must adopt environmental management to meet consumer environmentalism and environmental regulations (Jensen & Meckling, 1976). ...
... From the Resource Based View (RBV) logic, environmental management becomes an important element of corporate strategy and should be considered a unique capability (Kalyta, 2013)8; (Scott, 2015) (Watts & Zimmerman, 1986). RBV suggests that the company's competitive advantage comes from the company's capabilities and main sources (Edvinsson & Malone, 1997). Research that examines the effect of environmental capabilities on green organizational identity and green competitive strategy, as far as the authors observe, has never been done in previous studies. ...
This study aims to examine the effect of green intellectual capital and organizational environmental management on green organizational identity and its impact on the green competitive strategy. In this study, green intellectual capital is represented by green human capital, green structural capital, and green relational capital. Meanwhile, the organization's environmental management is represented by an environmental-oriented organizational culture, environmental-oriented leadership, and environmental-oriented capabilities. This study applies a survey that is distributed to 170 respondents who have managerial positions. The sample selection for functional is that respondents have influence and experience in the organization where the respondent works. The number of questionnaires that were successfully returned from the respondents was 146 pieces. From the results of hypothesis testing, it is known that green human capital and environmentally oriented culture have a significant positive effect on green organizational identity. Meanwhile, green structural capital, green relational capital, environmentally oriented leadership, and environmentally oriented abilities do not affect green organizational identity. Green structural capital and green relational capital have a significant positive effect on the green competitive strategy. In contrast, green human capital, environmentally oriented culture, environmental-oriented leadership, and environmental-oriented abilities, green organizational identity do not affect the green competitive strategy.
... First, that IC includes intangible assets, which, by definition, are nonfinancial and immaterial (i.e., they have no physical existence) (e.g., Bontis, 1998;Brooking, 1997;Bueno et al., 2004;Edvinsson and Malone, 1997;Martínde-Castro et al, 2011;Stewart, 1997;Sveiby 1997). The terms intellectual capital, intangible assets, and knowledge assets are often used synonymously (Evans, Dalkir, and Bidian, 2014;Stewart, 1991;1994;Martınde-Castro et. ...
... The second principle that scholars generally agree upon is that IC has 'value' to the organization. The IC itself, may be the principal source of value, or the IC may be a means by which the organization gains a competitive advantage (e.g., Bontis, 1996;Edvinsson and Malone, 1997;Stewart, 1997;Sveiby, 1997). Based on these two general principles, IC will be defined, in this paper, as knowledge and knowing capabilities, which create value for an organization (Bontis, 1998;Nahapiet and Ghoshal, 1998). ...
... A variety of taxonomies or frameworks have been presented for understanding IC. The most ubiquitous framework builds on the work of early IC scholars (e.g., Bontis, 1998;Bontis, Crossan, and Hulland, 2002;Edvinsson and Malone, 1997;Sullivan, 1998) who describe it using three dimensions or components: human capital, structural capital, and social capital. Human capital can best be summarized as the intangible assets that are embedded in the knowledge, skills/abilities/competencies, education/training, innovativeness/creativity/ intuition, and the attitudes and beliefs of an organization's employees (Bontis, 1998;Bontis et al., 2002;Edvinsson and Malone, 1997;Roos, Roos, Edvinsson, and Dragonetti, 1997). ...
This paper takes its cue from a paper by Kianto and Cabrilo (2022) presented at ECKM 2022. In their paper they raise concerns both with the theoretic underpinnings of the theory of Intellectual Capital and the more specific need to consider the impacts on new technologies and work structures. In the existing literature it has been proposed that Intellectual Capital is composed of a variety of components which have often been addressed somewhat independently. It is important to both investigate the nature of these sub-components and recognize the extent to which they interact. Some key concerns with Intellectual Capital and its subcomponents are discussed including their valuation, which presents significant challenges to traditional approaches of valuation. Other notable concerns relate to the underlying conceptual structure for Intellectual Capital, which needs further study with respect to its general intelligibility, its explanatory value, and in the light of major technological changes and the phenomenon of digitization.
... Human Capital juga menggambarkan kompetensi yang bersifat kolektif, yang dimiliki oleh perusahaan dalam melakukan inovasi maupun pengembangan yang dapat menghasilkan peningkatan nilai bagi perusahaan. Edvinsson and Malone (1997), mengatakan bahwa Human Capital merupakan variabel yang mendukung pada proses pemecahan masalah pengambilan keputusan dan efektivitas dalam penggunaan Sumber Daya Manusia melalui kreativitas dan inovasi. Lebih lanjut, Edvinsson and Malone (1997), menguraikan bahwa Human Capital ini meliputi pengetahuan, keterampilan, dan kemampuan karyawan. ...
... Edvinsson and Malone (1997), mengatakan bahwa Human Capital merupakan variabel yang mendukung pada proses pemecahan masalah pengambilan keputusan dan efektivitas dalam penggunaan Sumber Daya Manusia melalui kreativitas dan inovasi. Lebih lanjut, Edvinsson and Malone (1997), menguraikan bahwa Human Capital ini meliputi pengetahuan, keterampilan, dan kemampuan karyawan. ...
... Keunggulan terbentuk melalui penciptaan produk yang dirancang dengan teknologi modern yang unik yang digunakan, dan yang lebih penting adalah Manajemen Sumber Daya Manusia (SDM) yang efektif. Roos & Jacobsen (1999) mengatakan bahwa Human Capital yang merupakan unsur sumber daya manusia, termasuk pengetahuan, kompetensi, pengalaman dan keterampilan, inovasi, bakat, dan keterampilan yang dimiliki oleh karyawan, sedangkan Edvinsson (1997) mengatakan bahwa Human Capital tidak dapat dimiliki tetapi hanya disewa. Nonaka & Takeuchi, (1995), Human Capital merupakan pengetahuan hanya dimiliki oleh individu atau karyawan dan tidak dimiliki oleh perusahaan. ...
This book explains how companies seiz opportunities through Intellectual Capital (Human Capital, Social Capital, and Customer Capital) and Managerial Skills for business actors
... It is set out as a principle to guide work and motivate, with rewards set to be realized. According to Edvinsson & Malone (1997), the organizational asset consists of operation manual, production technical process, organizational communication, policies, and other support mechanisms. In addition, Subramaniam & Youndt (2005) added that the foundation of organizational asset is gained from knowledge and experiences and developed into organizational structure design and work process. ...
... 2) Implicit asset consisted of 5 questions: a) Organizational culture; b) Employee knowledge and skills; c) Being a good employee of the organization; d) Leadership; and e) Business strategies. This was developed from Edvinsson & Malone (1997) ...
... Consequently the ability of the industry regulators to achieve its Plan objectives depended on key success factors such as effective information and knowledge management; capacity to attract and retain high caliber staff; dynamic and proactive leadership, customer orientation, and sufficient and well equipped laboratories. This thus calls for the use of system dynamics among the industry regulators, (Edvinsson & Malone, 1997). Awuondo and Abdikadir (2013) argue that standards regulation does not occur in a vacuum, but rather requires an infusion of enthusiasm and commitment from all the stakeholders. ...
... This research suggested that companies that concentrate exclusively on the bottom line often make poorer decisions. This is supported by Atieno (2009) who asserts that such firms lack information from stakeholders and the environment that would allow them anticipate opportunities and solve problems when they are still small and less costly to remedy Edvinsson & Malone (1997) argues that firms respond to stake holder interests in the following three models. First is the Compliant firms which strive to avoid harm in three dimensions of sustainability by ensuring safety of products and workers, avoiding economic losses, corruption and environmental damage. ...
... IC has been defined based on different approaches. Some authors define IC as knowledge that can be transfer to value (Edvinsson and Malone, 1997) or as fundamental source of sustainable competitive advantages. Researchers have not reached agreed definitions of IC. ...
... Organizational capital can be seen as the specific knowledge possessed by organisations such as information system, databases, process descriptions, strategies, intellectual properties of the organisation (such as patents, copyrights and trademarks), documents, organisations polices employee-supporting mechanisms and structures, organisational know-how procedures, organisational culture, methods, business development plans, organisational charts, manuals and program. (Bontis, 1998;Edvinsson and Malone, 1997;Stewart , 1997;Inkinen, 2015;Asiaei and Jusoh, 2015;Clarke Seng, and Whiting 2011).This present study defines organizational capital as institutionalised knowledge assets that support the workforce to achieve their tasks such as information system, databases, organisational charts, manuals and programs (Subramaniam and Youndt, 2005). ...
Purpose this paper is to investigate the influence of four dimensions of intellectual capital (human, organizational, social and relational capital) on organizational performance. Design / methodology / approach Data were collected from 200 respondents of higher education institutions; the study used structural equation modeling to analyze the influence of human, organizational, social and relational capital on organizational performance. Findings Result suggests that organizational capital and social capital have significant and positive influence on organizational performance. Contrary to hypotheses, human capital has negative influence on organizational performance. Further, relational capital does not have significant influence on organizational performance. Practical implications Findings offer implications for higher education institutions mangers to utilize the knowledge that resides with in universities. It also enhances managerial ability to identify and apply these knowledge resources to improve organizational performance. Value/ originality improving organizational performance for higher education institutions is the main concern for higher education institution's mangers , yet he influence of intellectual capital on organizational performance mostly remain as unexplained puzzle. This study contributes to knowledge literature by examining the missing link between different dimensions of knowledge and organizational performance. It also helps to understand the important intellectual capital's dimensions that need to be capitalized and obtained to achieve higher performance specifically for higher education institutions.
... When employees engage in voluntary turnover, they remove their KSAs from the organization's or unit's total human capital resources (Nyberg & Ployhart, 2013;Serenko, 2023a (Edvinsson & Malone, 1997), which drives the production of innovative goods and services. Accordingly, Davenport and Prusak (1998) add that "human capital includes the intangible resources of abilities, effort, and time that workers bring to invest in their work" (p. ...
... The resource-based view (RBV) of the firm considers all forms of a firm's resources, while the knowledge-based view (KBV) of the firm focuses on an organization's knowledge-management capabilities (Grant, 1996) for achieving a competitive advantage. CBV focuses on the knowledge assets and flows that are embedded within organizational entities (Edvinsson & Malone, 1997). ...
The purpose of this study is to understand the drivers of organizational business performance from the perspective of human capital. Data were collected from 691 employees working in 15 North American credit unions. The model was developed and tested by means of the Partial Least Squares Structural Equation Modeling technique. This study illuminates an underexplored mechanism driving the association between trans-formational leadership and business performance based on several theoretical frameworks such as leader-member exchange theory, the conservation of resources theory, the heuris-tic model of employee turnover, equity theory, and capital-based view. The findings indicate that transformational leaders provide their subordinates with constructive feedback and offer training and development (T&D) opportunities, which are the key factors driving employee job satisfaction. Employee job satisfaction curtails turnover intention, which, in turn, reduces human capital outflow and, consequently, increases business performance. Managers should always act as true transformational leaders and provide their subordinates with relevant performance feedback and ample T&D opportunities. Workers who undergo T&D at the expense of their organization become more loyal and are less likely to leave even though they become more marketable. Organizations are recommended to administer periodic employee satisfaction surveys and prevent the exodus of human capital, which may be difficult to replenish.
... Edvinsson and Malone [61] defined intellectual capital as the sum of human capital and structural capital. Stewart [59] extended this definition and indicated that intellectual capital consists of three parts: human capital, structural capital, and relational capital (customer capital). ...
... Relational capital is primarily focused on the organization's interaction with its consumers, which is also known as customer capital [61,72]. It includes all the relationships that organizations have with external sources such as customers, partners, supporters, and relationships with brands. ...
The concept of intellectual capital is increasingly recognized as one of the most important strategic assets of organizations. The significance of intellectual resources, which are now critical for every business unit, is underlined in this paper. Thus, this research aims to identify the effectiveness of intellectual capital and its components on organizational innovation at Sulaimani Polytechnic University in Sulaymaniyah Governorate from the point of view of the faculty members (academic and administrative staff). The study developed both theoretical and empirical sections. The descriptive approach was used to determine the effectiveness of intellectual capital, and the quantities of research methodologies were used to measure this effectiveness. The study aims to investigate the correlations and causal effects between intellectual capital and organizational innovation. Moreover, the study investigates the correlations and causal effects between human capital, structural capital, and relational capital on radical and incremental innovation in the organization. To achieve this, the 392 total samples were collected and analyzed by SPSS 22 software. The findings provide evidence that intellectual capital and its components have a positive and statistically significant effect on organizational innovation and its components.
... Edvinsson and Malone [55] defined that intellectual capital is the sum of human capital and structural capital. Stewart [53] extended this definition and indicated that the intellectual capital consists of three parts; human capital, structural capital and relational capital (customer capital). ...
... Relational capital is primarily focused on the organization's interaction with its consumers which is also known as customer capital [55,66]. It includes all the relationships that organizations have with external sources such as customers, partners, supporters, and relationships with brands. ...
The concept of intellectual capital is increasingly recognized as one of the most important strategic assets of organizations. The significance of intellectual resources, which are now critical for every business unit, is underlined in this paper. Thus, this research aims to identify the effectiveness of intellectual capital and its components on the organizational innovation at Sulaimani Polytechnic University in Sulaymaniyah Governorate, from the point of view of the faculty members (academic and administrative staff). The study developed both theoretical and empirical sections. The descriptive approach was used to determine the effectiveness of intellectual capital and the quantities of research methodologies was used to measure this effectiveness. The study aims at investigating the correlations and causal effect between intellectual capital and organizational innovation. Moreover, the study investigates the correlations and causal effect between human capital, structural capital and relational capital on radical and incremental innovation in the organization. To achieve this, the 392 total sample were collected and analyzed by SPSS 22 software. The findings provide evidence that intellectual capital and its components have a positive and statistically significant effect on the organizational innovation and its components.
... En particular, el capital intelectual (CI), como recurso estratégico de la empresa que engloba diversos elementos vinculados con el conocimiento organizativo y de los individuos que la conforman (Edvinsson & Malone, 1997;Stewart, 1997), se erige como un recurso clave para contribuir al desarrollo sostenible y al logro de la sostenibilidad empresarial. Esto deriva del importante papel que posee el CI en la creación de valor (Ficco & Prieto, 2021), tanto en términos de valor monetario y de utilidad, como en términos de valor social y sostenible (Dumay, 2016). ...
El Capital Intelectual (CI) se erige como un recurso clave para contribuir al desarrollo sostenible y al logro de la sostenibilidad empresarial. No obstante, la divulgación de información sobre CI es exclusivamente voluntaria. Este estudio examina las prácticas de divulgación voluntaria sobre CI de los bancos argentinos, analizando la extensión y los atributos de la información divulgada. La investigación, de carácter exploratorio, se basó en el análisis de contenido de los reportes anuales de cuatro bancos en el periodo 2017-2019. Los resultados indican que la divulgación sobre CI fue limitada y heterogénea, tanto en términos de extensión como de calidad. Los bancos informaron fuertemente sobre su capital relacional, y particularmente sobre sus acciones sociales y ambientales. La divulgación sobre CI fue predominantemente narrativa. La información prospectiva y cuantitativa fueron sumamente escasas. Los niveles de divulgación sobre CI se incrementaron levemente en el periodo 2017-2019. Esta investigación proporciona evidencias sobre el estado de las prácticas de divulgación del CI de las entidades financieras en el contexto de una economía emergente.
... It also fosters a sense of community and sustainability, opening up new opportunities for growth and development (Davenport, 2018). This factor significantly increases the value of the intellectual capital of a company, which encompasses the knowledge, skills, and innovative capabilities that contribute to a company's competitive advantage (Edvinsson & Malone, 1997). ...
The aviation sector benefits from the rise of Society 5.0 and the onset of digital transformation. These developments offer distinct prospects for improving employee well-being, quality, and retention, all while simultaneously providing societal value. This research's primary objective is to investigate digitalisation's effects on dynamic capacities in the aviation industry, with a special emphasis on airport operations. By using the analytical skills of network analysis, this study examines the significance of network analysis in comprehending the impacts of digital transformation on dynamic capacities. The primary research question examines the potential use of network analysis to get a deeper understanding of the impact of digital transformation on dynamic capacities. The study utilises Harmonic Centrality, a centrality measure derived from network research, and implements it using the NetworkX library based on the Python programming language. The study is carried out at Esenboğa Airport, located in Ankara, Turkey, with a specific focus on airport management, a crucial aspect of the aviation sector. Using network analysis in conjunction with Harmonic Centrality offers a great methodology for understanding the influence of digital transformation on dynamic capacities, hence becoming a noteworthy addition to this scholarly article. KEYWORDS Digital Transformation, Dynamic Capabilities, Harmonic Centrality, Network Analysis, NetworkX
... IC is an aggregation of knowledge-based resources (Malone 1997;Sveiby 1997;Subramaniam and Youndt 2005;Nimtrakoon 2015;Anifowose et al. 2018;Nadeem et al. 2019;Tiwari 2022). IC comprises of human capital (HC), structural capital (SC) and relational capital (RC). ...
This study aims to determine whether gender diverse boards enhance intellectual capital performance, which is a measure of intangible resources. We have created a framework for panel data analysis for Indian listed firms and conducted estimation using the panel fixed effects technique. We also use the system generalised method of moments technique to assess the results' robustness. The results of the study indicate that gender diversity positively influences intellectual capital. The one aspect of intellectual capital which gets positively impacted by gender diversity is the human capital coefficient. These results suggest that women directors create policies that support the development and efficient application of intellectual capital. The female board presence associated with intellectual capital is essential for firm success in the knowledge economy. The study supports the regulation to enhance women’s representation on corporate boards. It also gives feedback to regulators for changing and broadening the law beyond listed firms.
... The essential elements of the New Public Management [NPM] as explained by Pollitt (1995) are budget cutting, disintegrating traditional bureaucratic organizations into separate agencies, decentralization within the agencies, separating the function of public service culture from purchasing, introducing market mechanisms, working to performance targets, indices and output objectives, flexibility in public employment, and laying more emphasis on service culture, quality and customer responsiveness. Hence, it has become expedient to rethink public service delivery in order to improve their quality (Edvinsson & Malone, 2017) to satisfy public needs, please people and firms as much as possible, favour good governance and national economic competitiveness (Cascio, 2010). In Nigeria, the main objective of the public sector is to provide and serve as catalyst for affordable and quality service delivery to the citizens. ...
Capacity building is central in institutions building of competitive advantage, yet, for a degree of success to be achieved depends on the institution's people-embodied know-how, which includes the knowledge, skills and abilities embedded in an institution's service culture. Within the framework of New Public Management (NPM) theory, this study examined the nexus between capacity building and service culture in federal colleges of education SouthEast Nigeria. This study was guided by one research questions and hypothesis. The study adopted the survey design. It relied on primary and secondary data, and multiple stage sampling technique was used to select the sample population. The data collected were presented in frequency table, pie chart, bar chart and simple percentage. Pearson Product Moment Correlations Coefficient statistical techniques were used with the aid of Statistical Package for the Social Sciences (SPSS) to test the research hypothesis. Findings of the study show that there is a significant relationship between capacity building and service culture in the federal colleges of education in SouthEast , Nigeria at the conventional 5percent levels. This study therefore recommends that, it is imperative for public institutions to make experts available to carry out induction training where employees are tutored on the character and salient traits of service culture
... Structural capital is owned by using using a corporation and remains with an company even though the human beings leave. Edvinsson and Malone (1997), in addition divide structural capital into organizational capital, method and innovation capital. ...
... Intellectual capital can be broken into several components. Broadly speaking, intellectual capital can be classified into human and structural capital (Edvinsson, 1997;Edvinsson & Malone, 1997;Bontis, 2004;Chu, Chan & Wu, 2011). According to Roos & Roos, (1997), human capital "is in the heads of employees", while structural capital is "what is left in the organization when people go home in the evening". ...
Modern businesses are characterized by innovation, technological advancement, skills and knowledge management. Successful firms tend to be those that continually innovate, rely on new technologies and emphasize on skills and knowledge of their employees rather than physical assets such as plant or machinery to improve performance. Knowledge has become the new frontier in corporate management because value can be generated through intangible assets not often reflected in the financial statements. Firms should realize that this is an integral part in complete understanding of firm performance. The financial sector in Kenya today is highly competitive, with each player striving to create its own niche. Yet, to succeed in such an environment, creativity, innovation and skills management is imperative. Although these intangibles relate strictly with intellectual capital that is difficult to measure, they are critical in the successful management of modern corporate entities. It is apparent that most business enterprises still choose to invest more in physical assets rather than intangible assets to drive their profitability. This study investigated the impact of value added intellectual capital (VAIC TM) on financial performance of listed commercial banks at the Nairobi securities exchange for the period 2010 to 2014. The study focused on capital employed efficiency, human capital efficiency and structural capital efficiency as predictor variables while the Net interest Margin was the response variable. Regression analysis was used. The findings showed that Capital employed efficiency had a significant effect on firm performance measured by net interest margin. Except for cooperative bank with HCE coefficient of 0.96, all other banks returned zero coefficients for HCE. Similarly, except for cooperative bank with SCE coefficient of Zero, all other banks returned a negative SCE coefficient. However, HCE coefficient was higher than SCE coefficient for all banks listed at the NSE. Capital employed efficiency (CEE) had the greatest impact of financial performance of commercial banks. Banks should recognize that human capital, and ultimately human capital efficiency is critical to realization of their corporate objectives. Financial institutions should adopt value added financial reporting so as to establish the impact of intellectual capital on their business. The ranking of the banks in terms of VAIC TM showed Standard chartered bank as the most efficient in utilizing its intellectual capital. Banks in Kenya should continue investing in their structural capital; information technology, databases and other satellite services such as agency banking, mobile phone banking and internet banking to improve their performance. The productivity of physical and financial assets of banks can be enhanced by investment in human capital efficiency.
... A necessidade de comunicação, bem como o desafio que se coloca, navegam para as inesgotáveis paisagens virtuais e a digitação dos sentimentos no teclado, abre uma odisseia recentemente iniciada na busca de respostas. Podemos concluir que a era moderna, embora fornecendo descobertas tecnológicas altamente produtivas, exige uma mudança para um ser humano genuíno.-Embora a vida social esteja centrada em contactos virtuais, a comunicação é ainda considerada uma componente central de processos sociais eficazes com prioridade dada ao respeito do ser humano.Existem dois tipos básicos de conhecimento: explícito e tácito(Edvinsson & Malone, 1997). O conceito de "organização inteligente" baseia-se principalmente no conhecimento que é depositado na mente de indivíduos talentosos. ...
... Although it is stated that the modern knowledge economy organization's value is largely based on IC, especially in the service sector (e.g. Edvinsson & Malone, 1997;Grant, 1996;Sveiby, 1997) the literature on the role of knowledge in general in the healthcare context has focused on knowledge management, information management, and business intelligence (to name a few), with less attention paid to IC. Also, Paoloni et al. (2020) found in their systematic literature review concentrating specifically on IC in the healthcare context that most of the contributions still focused merely on KM activities rather than on IC itself. ...
The healthcare sector is in crisis worldwide and under pressure from various trends such as digitalization, economic recession, population ageing, and workforce shortfall. This challenges in particular public sector healthcare management’s ability to provide services and meet communities’ growing expectations. Although the value of healthcare organizations is largely based on intellectual capital (IC), such as the experience and skills of professionals, knowledge available through relationships, codified knowledge, and organizational culture, knowledge-related literature in healthcare management has previously focused more on knowledge management activities than on intangibles and their management. Moreover, the public sector is the least examined area in the lC literature. The literature on this specific aspect – IC in public healthcare – has so far focused largely on identifying different aspects of IC rather than recognizing its value in action. To contribute to this knowledge gap, this article studies the role of intellectual capital in public sector healthcare management to elaborate on this critical component of organizational survival, renewal, and performance. This study aims to elucidate what this topical context requires of the application of IC theory and how it can advance the theoretical approach. Based on a literature review and preliminary empirical data gathered through thematic interviews with knowledge management professionals in a public healthcare organization in the throes of major healthcare reform, this article draws on the importance of intellectual capital in the public healthcare sector.
... Intangible assets are related to internal and external relationships, internal processes, trust, and tacit and explicit knowledge (Allee, 2008;Greco et al., 2013). It is estimated that, on average, the value of the company's intangibles represents three to four times its book value (Edvinsson, 1997). Furthermore, the World Bank points out that 77% of the world's total wealth comes from intangibles (World Bank, 2005). ...
Companies that develop and provide electricity services play a crucial role in society’s economic growth and quality of life. As such, value creation has shifted from tangible to intangible resources, which serve as a source of competitive advantage and value for organizations. However, energy companies typically focus more on their physical and technological products than on the intangible aspects that can ensure their longevity in the market.This article aims to identify the intangible aspects that impact companies operating in the electricity sector. The study was conducted through a literature review of intangible aspects and companies in the electricity sector. The main findings of the research are the identification of 20 intangible aspects within the electricity companies,the categorization and discussion of each intangible aspect based on the four perspectives of the Balanced Scorecard (BSC), and the analysis of the relationship between the intangibles, BSC perspectives, and life cycle stages of energy companies. The findings provide valuable insights for energy company managers to incorporate intangible asset management into their day-to-day activities and to focus on the most crucial intangible aspects depending on their business’s current stage in the life cycle.
... Most IC research leans on the classical tripod of IC components, laid down by the first-generation researchers in the field (e.g. Edvinsson and Malone, 1997;Stewart, 1997;Sveiby, 1997;Roos et al, 1997;Bontis, 2002). This tripod divides the value-generating knowledge assets into human capital, structural capital and relational capital; or, more simply put the value vested in an organisation's personnel, internal structures and processes, and relationships. ...
Intellectual capital theory (IC) theory, which asserts that organisational value is for the most part created with intangible, knowledge-based resources, has become a prevalent way to approach the notion of business viability. Most IC research leans on the classical tripod of IC components, laid down by the first-generation researchers in the field. This tripod divides the value-generating knowledge assets into human capital, structural capital and relational capital; or, more simply put the value vested in an organisation’s personnel, internal structures and processes, and relationships. Even though this conceptualization has been challenged by some, it still remains the cornerstone of the IC-based view of the firm, and it is astutely followed by most researchers in this field. However, various large-scale technological, socio-political, and institutional changes have fundamentally changed the business environment and worklife in recent years. In this paper we argue that these changes call for a critical examination of the relevance of the classical conceptualizations of IC. It may be necessary to update the understanding concerning not only the most essential knowledge resources, but also the structure of IC and the way in which IC is related with new relevant organisational capabilities and aspects of organisational performance. The aim of this theoretical paper is to provide an overview of some of the most essential recent worklife trends that are likely to impact how IC should be understood: digitalization, remote work, gig work, open innovation, crowdsourcing, strive towards sustainability and resilience. Based on these, the paper puts forth a set of propositions concerning the needed novel perspectives for IC. In addition to constructing a novel theoretical framework and propositions for IC research, the paper functions as an introduction to the mini track on Futurizing the Intellectual Capital Theory and provides a common framework on which mini track participants can base their dialogue.
... Intellectual capital, an integrating dimension of human, structural, and relational capital, can amplify its utility in the organization (Tefera & Hunsaker, 2022). Human, structural, and relational capital interact among themselves and affect each other reciprocally, this internally produced interaction creates synergy, adding value to the company (Edvinsson & Malone, 1997;Sveiby, 1997), consequently providing improved performance (Bontis, 1998;Bontis et al., 2000). The joint existence of these resources is one of the main intangible assets internally generated by organizations (Tefera & Hunsaker, 2022). ...
This study analyzed the effects of intellectual capital and management control systems (MCS) on performance, mediated by cooperation in a franchising system, on the assumption that those, in the condition of antecedents, can improve performance through cooperation since contracts are signed for that purpose. The results showed that intellectual capital (human, structural, and relational) promotes improved performance and cooperation in a franchising system. Similarly, MCS (performance appraisal systems and socialization) translate into performance and cooperation. However, no mediating effect of cooperation was observed in intellectual capital and MCS` relationships with performance. A survey was carried out with 112 fuel dealer managers, and structural equation modeling was applied to test the hypotheses. It was concluded that cooperation did not potentiate the effects of intellectual capital and MCS in performance on the performance of the investigated franchising system. This finding raises the need for further research as it clashes with the purpose of cooperation with has been advocated in the literature and expected in a franchise agreement.
... O capital intelectual, que figura como dimensão integradora dos capitais humano, estrutural e relacional, é capaz de ampliar sua utilidade na organização (Tefera & Hunsaker, 2022). Os capitais humano, estrutural e relacional interagem entre si e se afetam reciprocamente, e essa interação produzida internamente cria sinergia agregando valor à empresa (Edvinsson & Malone, 1997;Sveiby, 1997) e, consequentemente, proporciona melhoria no desempenho (Bontis, 1998;Bontis et al., 2000). A existência conjunta desses recursos é um dos principais ativos intangíveis gerados internamente pelas organizações (Tefera & Hunsaker, 2022). ...
Este estudo analisou os efeitos do capital intelectual e dos sistemas de controle gerencial (SCG) no desempenho, mediados pela cooperação em sistema franchising, na presunção de que aqueles, na condição de antecedentes, possam melhorar o desempenho por meio da cooperação, visto que os contratos são firmados com esse propósito. Os resultados mostraram que o capital intelectual (humano, estrutural e relacional) promove a melhoria do desempenho e da cooperação em sistema franchising. Da mesma forma, SCG (sistemas de avaliação de desempenho e de socialização) se traduzem em desempenho e cooperação. Entretanto, não foi observado efeito mediador da cooperação nas relações do capital intelectual e dos SCG com o desempenho. Uma survey foi realizada com 112 gestores de revendas de combustíveis, e para testar as hipóteses aplicou-se modelagem de equações estruturais. Concluiuse que a cooperação não potencializou os efeitos do capital intelectual e dos SCG no desempenho do sistema franchising investigado. Este achado suscita mais pesquisas por destoar do propósito da cooperação preconizado na literatura e esperado em um contrato de franquia.
... Research and measurements are a challenge for organizations and researchers who strive to formalize and structure it (Fernie et al, 2003). Literature defines two ways of classifying the types of knowledge, where structural and organizational knowledge is distinguished (Edvinsson and Malone 2014). Structural knowledge is characterized by the possibility of recording and reproducing (e.g., reports, instructions), it is the effect of the accumulation of information collected in databases. ...
Knowledge management (KM) in an organization has always been an important element of creating its value and ensuring its development. Economic entities and market organizations that strive to ensure a competitive advantage must care for the best use of their knowledge, both explicit and tacit. Tacit knowledge may constitute up to 80% of all knowledge accumulated in an organization, but its nature is much less accessible to codification. The aim of the conducted research is to present a conceptual model of product development for the disabled, which assumes the functioning of the value network (VN) based on information technologies (IT). These people are the best source of knowledge necessary to formulate the framework defining the parameters of the developed product. The presented model considers the specific requirements of a given social group, which is characterized by a large dispersion and diverse needs. This is the biggest obstacle to extracting the knowledge necessary in the design and testing process. The article is an introduction to the discussion on the acquisition of tacit knowledge for personalization and adaptation of products to the needs of a given social group. The research into the conceptual model is the initial stage of research work that focuses on the analysis of literature and the creation of the concept of tacit knowledge management in the product development model based on the value network. The management of dispersed tacit knowledge is to systematize specific information in the field of product adaptation to the needs of the disabled. The concept of using tacit knowledge is always a challenge in the organization's knowledge management. The disabled often face difficulties in everyday life. Especially in the current situation in Ukraine, where military operations lead to an increase in the number of injured people for whom later adaptation in society will require appropriate knowledge and resources managed within the value network.
... The components of ICE are further divided into human capital efficiency (HCE) and structural capital efficiency (SCE) as per Skandia Navigator tool (Edvinsson and Malone 1997;Iazzolino and Laise 2013). Similarly, CSR efforts can have an influence on IC across multiple dimensions (Sveiby 1987;Passetti et al. 2009). ...
This study empirically investigates the implications of corporate social responsibility (CSR) on the value-added intellectual capital efficiency of food and agribusiness firms in India. This study uses the firm-level data collected from the Prowess database of the Center for Monitoring Indian Economy for 362 food and agribusiness companies in 2019. The study contributes to the theoretical and managerial practices by assessing the causal relationship between the value-added intellectual capital (VAIC) and CSR for food and agribusiness firms in an emerging economy, i.e., India. The results suggest a significant mean difference in the key characteristics of firms with and without CSR expenditure. Further, there is a significant relationship between CSR and Value-Added Intellectual Capital Efficiency in the Indian food and agribusiness firms. Finally, the regression analysis indicates that CSR expenditure has a positive and significant implication on value-added intellectual capital (ß = 0.119, p < 0.01), including all the dimensions of firm’s capital efficiency except structural capital; i.e., capital employed (ß = 0.095, p < 0.01), human capital (ß = 0.145, p < 0.01) and intellectual capital (ß = 0.124, p < 0.01). However, CSR does not seem to have significant implications on structural capital standalone (ß = 0.044, p > 0.10), implying that the structural capital efficiency of the firms does not get affected by CSR expenditure. The findings of the study provide a good reason for implementing mandatory CSR, which goes beyond the performance of firms, as there is a positive and significant impact of CSR on the Value-Added Intellectual Capital of the firms. This paper contributes to the existing literature by providing extended understanding on the relationship between CSR and VAIC among food and agribusiness firms.
... Based on the IC literature, it was found that, IC and its dimensions have an impact of organizational VC (Ali and Anwar, 2021;Iacuzzi, et al. 2020;Bchini, 2015;Nuryaman, 2015;Tseng et al. 2015;Berzkalnea and Zelgalve, 2014;Mhedhbi, 2013;Choong, 2008;Ayed, 2007;Kamath, 2007;Cabrita and Vaz, 2005;Bontis et al. 2004;Stewart, 1999;Bontis, 1998Barney, 1991Edvinsson and Malone, 1997). Further, KM literature propose that, there exist an impact of KM practices on organizational VC (Campanella et al. 2018;Shakina and Molodchik, 2014;Carlucci, 2012;Edvardsson and Oskarsson, 2011;Ghosh and Mondal, 2009;Rezgui, 2007;Marr et al. 2003;Wiig, 1997). ...
This paper aims to investigate the impact of Intellectual Capital on Value Creation mediated through Knowledge Management in Sri Lankan companies. The ‘static’ and the ‘dynamic’ aspect of knowledge and the theoretical models, which are based on the relationship between Intellectual Capital and Knowledge Management forced the authors to address this research problem. The study was based on the top corporate personnel’s views collected through a self-administered questionnaire. Out of 297 Public Listed Companies listed on Colombo Stock Exchange and 517 private companies registered in Ceylon Chamber of Commerce, 263 companies were selected as the sample. Value creation was measured through both non-financial value drivers and financial value drivers, which was an innovative feature of this study. The data was analyzed using multivariate analysis through Partial Least Square Structural Equation Modeling. The findings confirmed a partial mediation of knowledge management. Further, findings revealed a significant and positive impact of intellectual capital on value creation and a significant positive impact of intellectual capital on knowledge management. The impact of knowledge management on value creation was also a significant positive one.
... We can observe it from two points of view: a static one, as a stock of knowledge, and a dynamic one, since the variation over time of this stock derives from the interactions between the members of the organizations (Kianto, 2007). According to Edvinsson & Malone (1997) IC includes the experience and skills gained by employees and customer relations. ...
Purpose. This paper aims to investigate the relationship between Intellectual Capital (IC) and the revenues in high-growth social cooperatives in the startup phase (social gazelles). Design/methodology/approach. Using the OECD definition, we have selected all 85 social cooperatives born in Italy in 2014 that became gazelles in 2018 or 2019. Applying the VAIC model, we measured the IC of these companies. Then we performed a panel regression analysis with fixed-effects specification to test our hypotheses regarding the effect exerted by the efficiency of human capital, structural capital and capital employed on the revenues of social gazelles. Findings. The empirical analysis revealed that both Human Capital Efficiency (HCE) and Capital Employed Efficiency (CEE) have a positive effect on revenues of the Italian social gazelles. On the other side, we found a negative relationship between Structural Capital Efficiency (SCE) and the revenues of these companies. Practical and Social implications. From a theoretical point of view, this paper contributes to the literature on high-growth firms (HGFs) shedding light on a topic still little explored. It also highlighted possible future lines of research. From a practical point of view, examining the relationship between IC and revenues of social gazelles, this study provides useful insights to design social startups. Originality of the study. This paper fills a gap in the literature by highlighting the positive role of human capital efficiency (HCE) and capital employed efficiency (CEE) in the revenue of social gazelles. 77
... Durante las últimas décadas, la literatura en el campo de la gestión ha empezado a prestar especial atención al CI como elemento clave en la creación de riqueza (Bradley, 1997) y al conocimiento como recurso estratégico para adquirir y mantener ventajas competitivas (ItamI y roehl, 1987;Prahalad y hamel, 1990;Barney, 1991;Grant, 1991;drucker, 1993;nonaka y takeuchI, 1995;Stewart, 1997;nahaPIet y GhoShal, 1998). Paralelamente, se ha analizado el papel y la relevancia del CI para crear valor en las organizaciones (edvInSSon y malone, 1997;SveIBy, 1997;SullIvan, 2000;teece, 2000;marr y SchIuma, 2004;andrIeSSen, 2005), así como la necesidad de integrar el CI en los procesos de gestión del conocimiento (Zhou y FInk, 2003). Pese a este interés creciente todavía no existe una definición universal del término. ...
El presente trabajo explora, en primer lugar y a partir del análisis de contenido de las cuentas anuales, la práctica informativa de las empresas españolas cotizadas en relación a indicadores de Capital Intelectual (CI, en adelante). En segundo lugar, se analiza, a través de un estudio Delphi, la posible desconexión entre la información que necesitan los usuarios de esta información para tomar decisiones eficientes y la información suministrada de forma voluntaria por las empresas. Los resultados muestran que pese a que la información sobre CI suministrada es escasa y poco estructurada, los expertos valoran su utilidad en la toma de decisiones muy positivamente, así como la necesidad de avanzar en la construcción de indicadores objetivos y en la construcción de un marco normativo que permita a las empresas informar de manera comparable sobre su CI.
... Sin embargo, dado que el índice de BUKH et al. (2001b) era aplicado a empresas danesas y empleado sobre un canal de comunicación diferente a los empleados en este estudio, decidimos excluir algunos ítem que consideramos irrelevantes, incluyendo otros basados en la literatura sobre emisión de información voluntaria (COOKE, 1989) e intangibles (EDVISSON y MALONE, 1997;SVEIBY, 1997), estudios de relevancia valorativa (Cap Gemini Ernst &Young, 2000) así como normativas y recomendaciones emitidas por los organismos contables (FASB, 2001a). ...
Este trabajo ha sido seleccionado y ha obtenido el Accésit Especial Premio Estudios Financieros 2004 en la Modalidad de contabilidad y administración de empresas. Este trabajo pretende evidenciar el papel de la información sobre intangibles en los mercados de capitales, tanto desde la perspectiva de la estrategia divulgativa de las compañías cotizadas como desde el punto de vista de su empleo en el proceso de Análisis Fundamental. Así, el objetivo de este trabajo es el análisis de las diferencias en la atención prestada a medidas relativas a los intangibles de la compañía por el emisor (empresa) y el receptor (analista) de la información en un conjunto de grandes empresas españolas. Los resultados del trabajo proporcionan un conjunto de evidencias empíricas altamente sugerente y revelador. Los resultados de los estudios empíricos realizados ponen de manifiesto que existe una gran similitud entre los ítems más valorados por el receptor (analista) y el emisor (empresa) respecto a las categorías de estrategia, tecnología, I+D+I y procesos. La información sobre los nuevos productos, imagen de líder y marcas, adquisiciones y alianzas están entre los datos no financieros más divulgados por la empresa, destacando los datos sobre credibilidad y transparencia de la estrategia de la empresa en los informes de analistas financieros. Al examinar las variables determinantes de la revelación de información sobre intangibles, se aprecia que las empresas de mayor tamaño y superior asimetría informativa son más proclives a revelar información sobre intangibles en sus reuniones con analistas. Por otra parte, el tipo de informe emitido, la asimetría informativa de la compañía analizada, y la clase de recomendación son los principales factores determinantes de la variabilidad en la información sobre intangibles que el analista emplea para apoyar sus recomendaciones.
... Lorsque on a compris que les actifs intangibles de l'entreprise étaient souvent le principal déterminant du profit. Ce concept a été considéré comme polysémique, large et riche (Edvinsson & Malone, 1997). Ce qui a rendu sa compréhension plus complexe. ...
With the rise of digitalization and artificial intelligence, intangible capital is recognized, through its components, as a primary source of performance within companies. Alongside the recognition of its importance in determining a company's value, we are witnessing the growing role of management control systems in the context of intangible capital (Novas et al., 2017). As a result, an effective and innovative corporate management control system facilitates the valuation of intangible capital and enhances its contributions (Mouritsen & Roslender, 2009; Tayles et al., 2007). It also effectively supports a company's knowledge capacity (Lee & Widener, 2016) and its quest for competitive advantage (Simons, 1995). The aim of this article is to present a theoretical conceptual model of the contribution of the management control system to the evaluation of intangible capital and its components in innovative companies (Start-ups). We have chosen innovative companies as our field of study because of the immateriality that characterizes this type of company and the close relationship between their values and their ability to assess their intangible capital. Accordingly, we have drawn on resource theory (Barney, 1991), dynamic capability theory (Teece et al., 2008) and the strategic approach to intangible capital management (Arrègle, 2006) as theoretical foundations for the literature. Our study presents a theoretical conceptual model that shows the role of the management control system in the evaluation of intangible capital and its components.
... The human capital approach was developed in particular by Schultz (1961) through the investment in human capital and by Becker (1964), who highlighted the human capital concept theoretically and empirically. As for the intellectual capital approach, its pioneers are Brooking (1996) as well as Edvinsson and Malone (1997). They consider that intellectual capital comprises, in addition to human capital, structural capital, and relational capital. ...
The objective of this work is to evaluate the impact of corporate social performance measurement on social change with regard to their typologies, in order to build a model for promoting both. To achieve this objective, structural equation modeling is used with the maximum likelihood method and a confirmatory analysis. This modeling is supported by optimal scaling and stability analysis. The findings show that hidden costs via latent variable "Social and Hidden Cost Accounting" is the most significant cause of social change (latent variable) whose most significant typology is its nature, which distinguishes situational change from structural change. They also reveal that the model proposed can be applied in other places and to any other variables with modalities related to social performance and social change. The originality of this work is to analyze the impact of social performance measurement on social change in terms of their typologies via structural equation modeling, while such analysis is underexplored in the social sciences. Also, the model proposed is a novelty for measuring corporate social performance and promoting social change.
... Голем дел од авторите, сепак, го користат терминот интелектуален капитал. Стевард (Steward) го дефинира како "пакувано корисно знаење" (Steward,1997), Суливан (Sullivan) го определува како "знаење што може да се конвертира во профит", додека пак Едвисон и Малон (Edvinsson and Malone) го дефинираат интелектуалниот капитал како "поседување знаење, применето искуство, организациска технологија, односи со корисниците и професионални вештини што и обезбедуваат на организацијата конкурентна предност" (Edvinsson, Malone ,1997). Затоа, со право може да се каже дека влогот во човечките ресурси не претставува трошок, туку инвестиција. ...
The state of Finland stands out for a successful education system in the world that is
nowadays attracting the attention of all teachers, educators and even parents who make
constant efforts to choose the best education system for their children. The success of the
Finnish education system has been evidenced by its students’ results in the PISA
international test since its implementation in OECD countries.
Therefore, since the implementation of the PISA test, all OECD countries as well as other
countries outside the OECD have been interested in identifying the factors of this successful
education system.
The paper aims to describe the Finnish education system during the history of the
development of the state of Finland, the description of educational reforms, the principle of
inclusion in the school and how it works, the principles of educational reforms that have
made the education system successful, the responsibilities of teachers and the way they
work, the student's responsibilities and the way they learn.
The importance of the paper lies in the structured description of each and every single factor
of this successful education system that can serve as a good model for all teachers, educators
and other stakeholders in the school.
Keywords: education system, reform, PISA, OECD
... There are several definitions of IC. Edvinsson and Malone (1997) describe IC as a stock of expertise and skills acquired by employees, as well as relationships with customers, which gives an organization a competitive edge. Similarly, Stewart (1997) describes IC as a set of knowledge, information, and intellectual property that generate wealth for the company. ...
Purpose: The aim of this study is to examine the impact of intellectual capital (human capital, structural capital, and employed capital) on the financial performance of listed insurance companies in the Amman Stock Exchange Theoretical framework: Intellectual capital has become increasingly important in generating value for companies, and many researchers have linked it to corporate financial performance and strategic competitive advantage. Design/methodology/approach: The study population consist of 21 insurance companies listed on the Amman Stock Exchange in Jordan during the period of 2011-2020. Intellectual capital was measured using the value added intellectual coefficient model (Pulic, 2000), and its impact on financial performance was analyzed using published financial statements of the insurance companies. Findings: The results of the study found a statistically significant positive effect of human and employed capital on financial performance as measured by the rate of return on assets and return on equity. Furthermore, the study revealed a significant positive effect of intellectual capital, specifically human capital, on financial performance measured by market value (Tobin's Q). Research, Practical & Social implications: The study suggests that insurance companies should treat intellectual capital as a strategic resource and monitor and invest in it periodically for continuous development. The study suggests building a positive organizational culture that supports intellectual capital is recommended Originality/value: This study contributes to the understanding of the relationship between intellectual capital and financial performance for the first time in the insurance industry in Amman Stock Exchange. The findings highlight the importance of managing and investing in intellectual capital as a strategic resource to enhance financial performance.
The related field research was conducted with the participation of 360 people. The respondents are working in public and private institutions in the service sector. During the analysis and analysis of the research data, SPSS (statistical package for the social sciences) program was used, and the data were analysed. With the factor analysis made, the questions were examined in detail within the scope of six sub-dimensions of spiritual leadership behavior patterns and the data were analysed. According to the results of the research, it has been observed that there may be changes in the attitudes and opinions of some of the dimensions of spiritual leadership behaviors based on the age, gender, marital status, educational status, sector, position, working time in the institution where they are currently working, and total years worked. Moreover, this study is illuminating regarding the positive effects of spiritual leadership on human capitals of white collar employees in Turkey.
En la realización del presente estudio se tuvo como objetivo establecer la relación que existe entre el capital humano y el plan de retiro en los trabajadores de la Universidad Nacional Agraria de la Selva, contando para ello con un estudio de tipo básico y de nivel relacional, con diseño trasversal. La población estuvo constituida por los servidores en número de 246 deduciéndose de ella una muestra de 123 servidores. Los datos fueron obtenidos a través de la aplicación de una encuesta de 19 preguntas en escala tipo Liker que luego fueron analizados con las estadísticas descriptivas y la estadística inferencial (Rho de Pearson). Los trabajadores estaban constituidos por 53.7% de género masculino y el 46.3% de género femeninos, encontrándose que el 36.6% tienen en un rango de edad entre 47 y 57 años y el 31,7% en una edad de más de 58 años, siendo estos muy próximos a la jubilación. Los resultados según el Rho de Pearson establecen que existe una relación directa y positiva entre las variables de estudio (Rho=0,791). Las dimensiones del capital humano más valorada por los trabajadores corresponden a la actitud (x ̅ = 3.43) con una correlación de r=0.511, luego la dimensión de aptitud (x ̅ = 3.10) y una correlación de r=0.211. En conclusión, se determina que existe una relación positiva y de intensidad alta entre la variable capital humano y plan de retiro en los trabajadores de la Universidad Nacional Agraria de la Selva, estableciéndose que a un mejor capital humano se tiene una mejor responsabilidad en el plan de retiro.
The objective of this research is to investigate how intellectual capital affects sustainable competitive advantage in the Jordanian telecommunication industry, with a focus on the mediating effect of marketing knowledge management. An online questionnaire was randomly distributed to 300 participants from various managerial levels. The proposed conceptual model and associated hypothesis were tested using SEM-PLS. The findings indicated that only Human Capital exerted a direct significant impact on sustainable competitive advantage. Marketing knowledge management fully mediated the relationship between relational capital, structural capital, and sustainable competitive advantage. The research highlights the importance of how the telecommunication sector management uses intellectual capital and marketing knowledge management in determining the sustainable competitive advantage of their business. Furthermore, it fills the gap and aids telecommunication sector management in focusing on the critical role of marketing knowledge management in achieving sustainable competitive advantage.KeywordsIntellectual CapitalSustainable Competitive AdvantageMarketing knowledge ManagementHuman CapitalRelational CapitalStructural Capital
This paper aims to define a theoretical background for investigating greenwashing from a business economic perspective. We consider possible research questions in the relevant field of study, which is business economics studies. The first research step proposes a path that will orient scholars to the multifaceted perspectives of greenwashing. The second step analyzes the main theories that can support researchers and might motivate the possible greenwashing strategies. The third step highlights the potential link between greenwashing, reputational and relational capital, and a broad concept of value that includes the social dimension. Finally, we propose a conceptual framework that highlights some emerging research issues and anticipates the effects of greenwashing. Considering that self-regulation is not effective in reducing the gap between substantive and symbolic behaviors, the main practical implication of this study lies in addressing the need for stronger regulation and effective legal enforcement, not only to improve mandatory environmental disclosure but also to develop an audit process of such disclosure. Our analysis offers a number of suggestions for future research. Considering the centrality of disclosure in the theoretical framework we defined for greenwashing, future research could adopt the legitimacy theory perspective to focus on the role of mandatory environmental, social, and corporate governance (ESG) disclosure as well. Further, our conceptual framework highlights a possible research issue that investigates how a social value destruction resulting from inconsistent environmental strategies, may impact shareholders’ economic value.
The purpose of this study is to empirically examine the impact of intellectual capital (VAIC) capacity of 21 Turkish banks on financial performance (ROA) and non-performing loans (NPL) from 2004 to 2020. Panel data technique was used for analysis. The study results suggest that banks' intellectual capital is vital for their profitability, credit risk and competitive advantage. As far as known, this is one of the first empirical researches in Turkey that examines the impact of IC and its components on financial performance and non-performing loans of the Turkish banking sector in the long term. Bu çalışmanın amacı, 2004'ten 2020'ye kadar 21 Türk bankasının entelektüel sermaye (VAIC) kapasitesinin finansal performans (ROA) ve takipteki krediler (NPL) üzerindeki etkisini ampirik olarak incelemektir. Analiz için panel veri tekniği kullanılmıştır. Çalışma sonuçları, bankaların en-telektüel sermayelerinin karlılık, kredi riski ve rekabet avantajı için hayati önem taşıdığını gös-termektedir. Bilindiği kadarıyla bu çalışma, IC ve bileşenlerinin Türk bankacılık sektörünün uzun vadede finansal performansına ve takipteki alacaklarına etkisini inceleyen Türkiye'deki ilk ampirik araştırmalardan biridir.
En la realización del presente estudio se tuvo como objetivo establecer la relación que existe entre el capital humano y el plan de retiro en los trabajadores de la Universidad Nacional Agraria de la Selva, contando para ello con un estudio de tipo básico y de nivel relacional, con diseño trasversal. La población estuvo constituida por los servidores en número de 246 deduciéndose de ella una muestra de 123 servidores. Los datos fueron obtenidos a través de la aplicación de una encuesta de 19 preguntas en escala tipo Liker que luego fueron analizados con las estadísticas descriptivas y la estadística inferencial (Rho de Pearson). Los trabajadores estaban constituidos por 53.7% de género masculino y el 46.3% de género femeninos, encontrándose que el 36.6% tienen en un rango de edad entre 47 y 57 años y el 31,7% en una edad de más de 58 años, siendo estos muy próximos a la jubilación. Los resultados según el Rho de Pearson establecen que existe una relación directa y positiva entre las variables de estudio (Rho=0,791). Las dimensiones del capital humano más valorada por los trabajadores corresponden a la actitud (x ̅ = 3.43) con una correlación de r=0.511, luego la dimensión de aptitud (x ̅ = 3.10) y una correlación de r=0.211. En conclusión, se determina que existe una relación positiva y de intensidad alta entre la variable capital humano y plan de retiro en los trabajadores de la Universidad Nacional Agraria de la Selva, estableciéndose que a un mejor capital humano se tiene una mejor responsabilidad en el plan de retiro.
В статті розкрито сутність стану сучасної світової економіки, яка стоїть на порозі нового якісного розвитку, підвалинами чого є економіка знань. Авторами визначено, що в якості основного економічного ресурсу в нових умовах висуваються знання, а їх джерелом є людський капітал. В статті зазначається, що за своєю сутністю економіка знать сприяє загальній децентралізації та лібералізації економічних відносин, тому в якості інкубаторів по розвитку людського капіталу в бізнес-середовищі виступають бізнес-спільноти. Авторами проведено класифікацію бізнес-спільнот, визначено їх основні завдання та особливості формування людського капіталу в нових умовах. У статті наведено авторське визначення дефініцій «людський капітал», «економіка знань» та «бізнес-спільнота», визначено подальші напрямки дослідження теми, які полягають у розробці алгоритму управління людським капіталом та інструментів стимулювання його розвитку.
This study aims to discuss and analyze the impact of available intellectual capital in the information centers on Sustainable Development Goals (SDGs). And to examine the implementations of Decisions based on intellectual capital and their impact on sustainability. The study also reviews and analyzes the components of the capital intellectual, and the challenges for information centers in developing countries to make available accurate information, data, and intellectual capital. The researcher analyzes and evaluating the current investment in available intellectual capital in information Centers to reduce the knowledge gap with developed countries. The present study has gained significant insights by addressing a dynamic topic that helps developing countries benefit from the power of information centers by enhancing their position, role, and value in achieving SDGs. The researcher found that the information centers containing knowledge, skills, and innovations derived from the human mind are significant to connect all the potential to promote intellectual capital to decision-making centers, which in turn supports SDGs.
Introduction. The article presents a research study on the stages of the formation of accounting science under the influence of economic, social, technological, psychological, and other factors. This research has allowed investigating the essence of accounting and its impact on the evolution of humanity’s economic activities. The examination of historical aspects has enabled the formulation of predictions regarding the development of accounting paradigms in the future. It has been proven that accounting theory requires improvement and an enhancement of its scientific rigor.Research objective. The objective of the study is to explore the stages of formation of accounting science and to forecast the future development of accounting concepts in the context of significant transformation of the business information environment and the advancement of information technologies.Research methods. The stages of the formation of accounting science were studied using the bibliographic method, specifically through the implementation of monographic and comparative analysis of accounting theory, methods of forming information resources for business, and critical analysis of historical theories of societal development. The methods of theoretical modeling and scientific abstraction were employed to forecast the future development prospects of accounting concepts.Results. The historical aspects of accounting science formation were examined in the context of the transformation of scientific theory. The stages of accounting science formation were identified, highlighting the accounting system as one that meets the requirements of an industrial-type economy, necessitating a fundamental revision of accounting theory. It was demonstrated that in a technologically and informationally advanced world, information resources should form the core of the accounting system as a product of its functioning. The study also established that economic activity is a fundamental element of contemporary accounting science. The article proposes an author’s vision of the stages of accounting paradigm formation and the directions for the development of accounting science and the theory of accounting in a post-industrial digital society. The implementation of the proposed measures will elevate accounting science to a higher level of development and interpret accounting as a process of creating information and shaping the information field of business at various levels of management. It will also provide an understanding of the impact of information resources on the process of managerial decision-making.Prospects. Further scientific research should focus on studying the problems of accounting theory formation in accordance with the needs of scientific and economic progress, as well as forecasting the transformation of accounting theory and methodology considering the impact of economic digitization.
SMEs are essential in national economic growth, so it concerns various groups. Intangible resources such as knowledge and skills are the basis of SMEs' competitive advantage. Integrating these two things will provide a rapid growth acceleration for SMEs. Intellectual capital (CI) is a core concept of the company's strategic resources to create a competitive advantage. SMEs have a more straightforward organizational structure and solid internal social relations than large companies. This study aims to address this gap by analyzing the impact of intellectual capital (CI) on SMEs' financial performance (FP). The design of this research is causal research with a survey method. In taking the sample, non-probability sampling was used with the convenience sampling technique on SME owners along the coast of West Aceh. The hypothesis was tested using the Structural Equation Model (SEM). The findings in this study prove that the three components of intellectual capital, namely human capital (HC), structural capital (SC), and relational capital (RC), affect the financial performance (FP) of SMEs. This study concludes that intellectual capital is significant for the financial performance of SMEs.
Existential crises question the organization's readiness to withstand uncertainties. Geopolitics and natural disruptions have changed human behavior into a “new normal.” In improving business continuity, HEIs must strategically deal with operating models, resilience, and agility and be better prepared for disruptions. Typical HEI reactions of online home TLR lack addressing the human capacity/capability needs, technologies/infrastructure, academic/student services support, and TLR evaluation/assessments that cover the HEI broader approach of education values, systems, mechanisms and pedagogies, and student outcomes assurance. It includes HEI human, infor, and organizational capital capacities and capabilities of these systems. Being resilient and agile calls for faster decision-making focused on HEI priorities. This chapter addresses the HEI strategic readiness through a strategic organizational readiness model (SORM) managing the HEI organization readiness. The SORM evolves around the HEI six thematic systems, with resilience and agility as vital analytical and assessment parameters.
Az esszében a versenyképesség javíthatóságának a szellemi vagyon és tőkeberuházások kapcsolatára visszavezethető feltételeit vizsgáljuk nemzetközi szakirodalomra és adatokra támaszkodva Magyarország esetén. Kitérünk a versenyképességet megalapozó termelékenység és a szellemi tőkeberuházások kapcsolatára is. Amellett érvelünk, hogy bár az idézett fogalmak értelmezésével kapcsolatban nincs egységesen elfogadott szakmai konszenzus, valamint további elemzésekre és modellezésre is szükség lenne, már a bemutatott összefüggések is valószínűsítik, hogy a magyar gazdaság termelékenységének és versenyképességének javulásához hozzájárulna a magasabb szellemi vagyonérték és tőkeberuházás szint. Egyrészt azért, mert javítaná a tárgyi beruházások általános működési hatékonyságát, másrészt azért, mert támogatná a versenyképességi szintlépés legfontosabb feltételét, a tudásgazdaságba való átmenetét.
Müasir dünya yaşıl energetikaya əsaslı transformasiya mərhələsindədir. Yaxın illərdə onun qlobal enerji balansında payı davamlı artacaq, yaşıl energetika hər bir ölkədə dominant mövqe tutacaqdır. Azərbaycanda yaşıl energetika sahəsində çox mühüm olan strateji layihələr reallaşdırılmaqdadır. Həmin layihələr daha geniş sferada işğaldan azad olunmuş ərazilərdə həyata keçirilməkdədir. Bu həm də ondan irəli gəlir ki, bu ərazilər dövlət başçısı tərəfindən yaşıl enerji zonası olaraq elan edilmiş, bununla bağlı strategiyalar, dövlət proqramları qəbul olunmuş və müvafiq tədbirlər həyata keçirilir. Həmin tədbirlərin daha səmərəliliklə reallaşdırılması üçün işğaldan azad olunmuş ərazilərdə yaşıl enerji klasterlərinin formalaşdırılmasına və onun təşkilati-iqtisadi mexanizminin yaradılmasına ehtiyac vardır. Bu baxımdan yaşıl enerji klasterlərinin formalaşdırılmasının təşkilati-iqtisadi mexanizmi məqalənin predmet və obyekti kimi çıxış edir. Burada strateji quruculuq işlərinin konseptual bazası, reallaşma mexanizmləri, təbii sərvətlərin və resursların qiymətləndirilməsi, enerji infrastruktur kompleksində görülmuş işlərin və perspektivlərin təhlili, enerji sektorunun bərpası və inkişafının təşkilati-iqtisadi mexanizmi və yekun olaraq da regional yaşıl enerji klasterlərinin formalaşdırılması strategiyası kimi mühüm məsələlər təhlil edilmiş və qiymətləndirilmişdir. Açar sözlər: təbii resurslar, enerji potensialı, yaşıl enerji, klasterlər, təşkilati-iqtisadi mexanizm.
Azərbaycanın mühüm təbii enerji sərvətləri yaşıl enerji potensialı kontekstində ölkədə yeni iqtisadi modelə keçidə rəvac vermişdir. Bu silsilədə onun təkmilləşən enerji infrastrukturunun rolu da yüksək qiymətləndirilir. Hazırda ölkədə xam neft və təbii qaz resursları ilə yanaşı, həm də geniş çeşiddə neft-kimya məhsulları və elektrik enerjisi də ixrac olunmaqdadır. Yaxın gələcəkdə elektrik enerjisi ixracı əsaslı dərəcədə yaşıl energetikaya əsaslanacaqdır. Bu onun artan yaşıl enerji potensialından irəli gəlir. İşğaldan azad olunmuş ərazilərin yaşıl enerji resursları bu potensialı daha da yüksəldir. Bundan irəli gələrək, həmin ərazilər yaşıl enerji zonası elan olunmuş və burada nəhəng layihələrə start verilmişdir. Bütün bunlar isə öz növbəsində yaşıl iqtisadiyyat quruculuğuna zəmin olur və ölkədə bu istiqamətdə mühüm strateji addımlar atılır. Aktual səciyyə daşıyan məsələ elmi çevrədə də tədqiqatları genişləndirir. Bu baxımdan məqalədə Azərbaycanda iqtisadi inkişafın yaşıl iqtisadiyyat ssenarisi əsasında onun artan enerji gücünün yeni reallıqlar çevrəsindən dəyərləndirilməsi, ölkənin təbii resurslarla təminatlılığı, enerji təhlükəziliyi, milli neft strategiyası, yeni enerji siyasəti, yaşıl iqtisadiyyat, milli yaşıl enerji potensialı, yaşıl artım konseptləri kimi prioritet məsələlər tədqiqat obyektinə çevrilmişdir. Açar sözlər: yaşıl iqtisadiyyat, neft strategiyası, enerji təhlükəsizliyi, yaşıl artım, yaşıl energetika
The aim of this chapter is to introduce an innovative methodological approach in the research field of small and medium-sized enterprises operating in the tourism sector with an emphasis to evaluate the intellectual capital. In addition to financial background, the development of entrepreneurial activity of small and medium-sized enterprises in tourism sector is also determined by the availability and quality of human resources, and the level of intellectual capital. The issue has not been adequately addressed for a long time, but during the crisis and recession, intellectual capital is gaining an increased attention. The chapter is based on the theories and different approach of several foreign professionals addressing the discussed issue in terms of intellectual and human capital and human resources. At the same time, the research is based on current knowledge in the field of SMEs operating in tourism sector. An innovative methodological approach, using the method DEMATEL developed in Switzerland is applied. In addition to this method, we use expert evaluation and advanced statistical methods for quantification. Quantitative methods prevail the study, which are partially supplemented with scientific and logical methods. This mixed approach allows us to understand the research issues in a more compact way. The innovative methodological approach, based on the use of the DEMATEL method and expert evaluation provided an opportunity to quantify effectively the phenomena related to intellectual capital in small and medium-sized enterprises operating in the tourism sector. We quantify three phenomena: human capital, structural capital and relational capital. We found that human capital is the most affected by structural capital (1.7067). Relational capital (1.3849) has a slightly smaller effect on human capital. An interesting finding is that relational capital has no impact on structural capital. The originality of this chapter lies in the application of innovative method of examining entrepreneurship in small and medium-sized enterprises operating in tourism sector. The main and the highest original added value is the application of a less-known DEMATEL method, an innovative methodological approach, which takes the scientific level of research to a higher level. It makes it possible to detect socio-economic phenomena in a more sophisticated and complex way.KeywordsSmall and medium enterprisesTourism entrepreneurshipIntellectual capitalHuman resourcesDEMATEL
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