• 主题
高级搜索  >
历史搜索 清空历史
首页> 外文期刊>African Journal of Business Management >The impact of intellectual capital on firms financial performance and market value: Empirical evidence from Italian listed firms
【24h】

The impact of intellectual capital on firms financial performance and market value: Empirical evidence from Italian listed firms

机译：智力资本对公司财务业绩和市场价值的影响：来自意大利上市公司的经验证据

获取原文
       
页面导航
  • 摘要
  • 著录项
  • 相似文献
  • 相关主题

摘要

The purpose of this paper is to extend the understanding of Intellectual Capital (IC) in the context of Italian listed firms. In this study, the Valued Added Intellectual Coefficient (VAIC) is employed as a measure of IC to investigate the relationship between IC, firms’ financial performance and market value. The empirical investigation is developed by using data drawn from a sample of 135 Italian listed companies for the period from 2008 to 2017 and performing different Ordinary Least Squares (OLS) regression models. The findings suggest that, when taken in its aggregated form, IC exerts a positive impact on firms’ financial performance measured as firms’ profitability and growth in revenues as well as on market value. However, when considering its components, only Human Capital efficiency shows a positive effect on firms’ financial performance while Structural Capital efficiency and Capital Employed efficiency exhibit a negative effect. Astonishingly, each of the individual IC components negatively influences firms’ market value.
机译：本文的目的是在意大利上市公司的背景下扩展对智力资本（IC）的理解。在这项研究中，采用增值知识系数（VAIC）作为IC的一种量度，以研究IC，企业财务绩效和市场价值之间的关系。通过使用从135家意大利上市公司的样本中抽取的2008年至2017年期间的数据，并执行不同的普通最小二乘（OLS）回归模型来进行实证研究。研究结果表明，以汇总形式来看，IC对公司的财务绩效产生积极影响，而财务绩效以公司的盈利能力，收入增长以及市场价值来衡量。但是，在考虑其组成部分时，只有人力资本效率对企业的财务绩效产生积极影响，而结构性资本效率和资本使用效率则具有负面影响。令人惊讶的是，每个单独的IC组件都会对公司的市场价值产生负面影响。

著录项

相似文献

  • 外文文献
  • 中文文献
  • 专利
获取原文

客服邮箱：kefu@zhangqiaokeyan.com

京公网安备：11010802029741号 ICP备案号：京ICP备15016152号-6 六维联合信息科技 (北京) 有限公司©版权所有

  • 客服微信

  • 服务号