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Intellectual capital and intellectual imperatives of higher education sector: an emerging economy perspective
Chatterji N., Kiran R.
Q3
One in every four graduates of the world will be the product of Indian higher education system by the year 2030. Against the backdrop of the report issued by Federation of Indian Chambers of Commerce & Industry (FICCI), this study aims to explore the effect of university intellectual capital on 'intellectual imperatives' of the Indian higher education. Structural equation modelling was tested on 590 university faculty members to gauge the influence of university intellectual capital on the intellectual imperatives of the higher education sector identified in the report. Results revealed that intellectual capital strongly influences 'intellectual imperatives'. Research conducive policies, employee-oriented practices, equal employment opportunities, stakeholder orientation and networking emerged as the earmarks of university intellectual capital. The study has international implications and provides policymakers and practitioners a feasible model to leverage university intellectual capital to create a situation conducive to enhance university performance.
Determinants of academic staffs participation in research activities in Ethiopian universities
Kargeti H., Jain V., Birru F., Pandey V.K., Shanko A.
Q3
The study aims to promote the knowledge creation activities for the under developing countries like Ethiopia, which is the need of the hour. Faculty members' participation in research not only helps in improving the quality of faculty members but also improves the quality of the institute. In this paper, we use survey data from Wollega University to understand the factors hindering the research participation decision of faculty members at the university level. This survey tries to analyse the determinants of participation of academic staff in Wollega University. The logit model was used for analysing the data. We conclude that availability of publication incentives, work experience, speed of internet, accessibility to research funds and colleague collaboration on research participation all enhance the probability of academic staff's research participation while teaching load is negatively related to the probability of academic staff's research participation in the study area.
Developing graduate attributes through multiple intelligence theory
Baporikar N., Sony M.
Q3
Education today means more to acquiring the requisite competencies and skills so that the students are capable latter to work in different cultures and contexts. Mere knowledge and grades are not going to be sufficient for success and impact. Higher education, in particular, must ensure that the students acquire the right attributes. Further, linear approaches to developing nor measuring attributes may also not be enough for long-term success. This is where the theory of multiple intelligence (MI) is relevant as at its historical origin, intelligence tests described and predicted those who would be successful. This theory explains and deals with nine different kinds of intelligence, each independent of the other. Yet, until now, a better understanding of MI theory and its relationship between the acquisition of graduate and professional attributes is missing including how this can facilitate students to develop the right attributes. Hence, through critical analysis of extant literature, focusing on university students in Namibia, the aim of this paper is to explore the development of graduate attributes through MI theory.
Is the influence of Intellectual Capital on Firm Performance homogeneous Evidence from India Employing Quantile Regression Model
Goswami M., Maji S.G.
Q3
This paper investigates the association between intellectual capital (IC) and firm performance by employing quantile regression model to derive robust and complete association that the classical mean regression fails to extricate. Secondary data on 253 listed Indian firms are collected from 'Capitaline Plus' corporate database for a period of 16 years from 1999-2000 to 2014-2015. IC and its components are computed using Pulic's value added intellectual coefficient (VAIC) model and firm performance is measured by return on asset (ROA). Both pooled OLS and quantile regression models are used to test the hypotheses. The results indicate that the pooled ordinary least square regression provides an incomplete picture about IC efficiency of firms. The results of quantile regression indicate that the positive influence of intellectual capital is higher at upper quantiles. The results also reveal that intellectual capital is a vital factor that creates a significant difference between out-performing and non-performing firms.
Performance of intellectual capital during pre and post crisis: a study of S&P CNX 500 companies
Soriya S.
Q3
The study is carried out to examine the relationship of intellectual capital components with market performance measured by Tobin's q, market to book value and earning per share in India. Research sample consists of listed companies under S&P CNX 500 Index. Time period has been divided into two major segments as pre and post crisis period. Results implied that CEE was not significantly associated with any of the market valuation performance in both pre and post crisis period. Human capital was negatively associated with the Tobin's q and MB although it is not explaining EPS of the firms. Advertisement and research and development was positively associated with Tobin's q and MB but not positively related with EPS. Increasing consciousness about intellectual capital is not replicated in the market performance of the companies. Present study tries to aware the academicians and managers about the association of intellectual capital and market performance of the companies.
Intellectual Capital and Corporate Financial Performance in Indias Central Public Sector Enterprises (CPSEs)
WEQAR F., Haque S.M.
Q3
The purpose of this paper is to empirically examine the effect of intellectual capital on the financial performance of the central public sector enterprises (CPSEs) operating in India and also to analyse the contribution made by each component of intellectual capital in the financial performance of the organisation. Secondary data were collected from the constituent companies of the S&P Bombay Stock Exchange (BSE) CPSE index from 2009 to 2018. VAICTM methodology developed by Professor Pulic has been employed for measuring the intellectual capital efficiency of the CPSEs. The results revealed that intellectual capital shows a weak relationship with profitability (ROA) and market valuation (MB), but it acts as a strong predictor of productivity (ATO). Also, the result shows that human capital is the most significant element among all the three components of intellectual capital, in enhancing the financial performance of the CPSEs.
Extent and gaps in intellectual capital disclosure in the Indian industry
MALHOTRA A., MEHROTRA V.
Q3
The aim of the paper is to examine the current status of intellectual capital (IC) disclosure by firms in India in terms of extent and quality of information disclosed as well as to assess whether any gap exists between stakeholder expectations and actual disclosure practices being followed by industry. For achieving the objective, a mixed methods approach was applied which had qualitative and quantitative elements. The findings indicate that the disclosure level of IC in the annual reports of Indian firms is low and a gap exists between the actual practices and stakeholders expectations as regards disclosure. The category of external capital was the most reported category followed by internal capital and human capital.
Business Relational Capital and Firm Performance: An Insight from Indian Textile Industry
Rajeevkumar P., Sisodia G., Venugopalan M.
Q3
Organisations subsist in a knowledge-based society where there exist a strong need to interact with its environment and establish relations. These relationships help firms to procure and share knowledge which is quintessential for carrying out their operations. The goal of this study ascertains the impact of relational capital management in firm's performance in the textile industry in India. The study was conducted among managers of leading textile manufacturing firms in Tiruppur area. The hypothesis set for the study was empirically tested by using partial least square method, in the models set for the study was found to be valid at P < 0.05. The paper concludes that relational capital components and the firm performance are positively related.
Examining the Relationship between Intellectual Capital and Financial Performance: An Empirical Study of Service and Manufacturing Sector of India
Deep R., Narwal K.P.
Q3
The purpose of present study is to analyse the relative importance of intellectual capital (IC) components in financial performance measures, i.e., productivity, profitability and market valuation respectively. For this purpose, banking informational technology, textile and pharmaceutical industry has been chosen for the study. The results of the panel regression analysis show that IC has a significant impact in increasing the profitability and market valuation of both sectors. The structural capital is not having any significant role to play in increasing the market valuation of both sectors. The results further found that human and structural capital in manufacturing sector shows a negative association with productivity of the companies. The study also found that physical capital is the strongest component in explaining the financial performance and market valuation of both sectors. It is advisable to managers to take more active role in encouragement of development of IC.
THE NEED FOR LIFELONG LEARNING
Christie L.G., Kumar G.
Q3
The more we learn and acquire knowledge, the more empowered and better would our life become. In more than one scenario, people who upgraded themselves or were more knowledgeable came off as being resilient, innovative with the attitude of being socially and emotionally resilient. The more learning becomes part of our daily life and curious we are, life becomes more gratifying and energetic for achieving one's dreams and goals. Acquisition of more knowledge helps in solving problems effectively with an efficient and innovative bent of mind. The desire to make learning a life-long activity and a continuous process helps create value and add value to what we do or in living life to the fullest and in reaching out to others with integrity and in principle. Life has to be lived not as a monotonous activity but has to be experienced from within and learning creates that path.
Understanding the locus of control of management students - an exploratory study
Bharathi S.V., Joseph S.
Q3
This research examines the impact of locus of control in the academic life of management students. A customised locus of control inventory is proposed which was administered to a sample of 170 management students in India. Using exploratory factor analysis, seven components were identified as influencers of locus of control throughout the academic life of a management student namely destiny, academic performance, introversion, attribution effect, luck, self-efficacy and self-confidence. Moreover, the study finds that the predominant locus of control is external except in case of self-efficacy and self-confidence. The outcome of the research also suggested technology, participant-centred pedagogy and mentoring as the key constructs for future research work in locus of control.
Evaluating Intellectual Capital and its Impact on Financial Performance: Empirical Evidence from Indian Electricity, Mining and Asset Financing Service Sectors
Pal Narwal K., Yadav N.
Q3
This paper empirically examines the impact of the intellectual capital (IC) efficiency on the financial performance of the Indian electricity, mining and asset financing service sectors. The model value-added intellectual coefficient (VAIC) by Pulic used as a methodology to evaluate the value-added efficiency of the selected 60 companies from the Bombay Stock Exchange ranging from 2006 to 2015 on the basis of market capitalisation. The major findings of correlation analysis suggested that IC has a positive relationship with profitability and an inverse relationship with productivity. Consequently, IC has partially positive impact on financial performance and may become a path for improvement in future. The main evidence revealed that human capital has the strongest positive effect on firm value. The current empirical evidence extends concrete step towards the profound understanding the role of IC in improving performance ability of the firms and it helps the organisations to create and maintain an emulous advantage in nascent economies.
Determinants of Intellectual Capital Disclosure - Indian Companies
MEHROTRA V., Malhotra A.K., Kumar Chauhan A.
Q3
The objective of the study is to examine the association if any, between the intellectual capital disclosure made by Indian corporates and determinant factors like leverage, ownership structure and independence of the board, sector and size of these firms. The firms taken for study are Indian companies indexed in Nifty 50, the main index of National Stock Exchange (NSE) of India. The study discloses that service sector companies have a higher level of disclosure when compared to manufacturing or industrial sector companies. The data reveals that company size is positively associated with disclosure level. Data further reveals that when heterogeneity of firms is taken into account along with time factor, companies with higher proportion of independent directors disclosed more, government-owned firms disclosed less as compared to other firms.
Causal modelling between Human Capital and Firm Performance indicators: An IT Industries perspective
SEKHAR C., Patwardhan M., Vyas V.
Q3
In a knowledge-based economy, Human Capital (HC) is the most important asset. It represents knowledge, skills, experience and capabilities of the employees. The present study utilised standardised scale of HC. Simultaneously, the firm performance scale was adapted from previous researches of respective domains. Database was accumulated from the IT firms that deal in the software development and integration, consultancy, maintenance services to banking industries, manufacturing and other domains of leading national and multi-national IT firms operating in India. The measurement model is a Confirmatory Factor Analysis. Reliability of the construct was reported under acceptable range, and the regression weights were significant. All observed variables loaded to their corresponding first-order construct. In the end, causal relations were analysed through DEMATEL (Decision-Making and Trial Evaluation Laboratory) methodology. Direct-relation matrix is obtained for all the criteria of HC and firm performance and finally, the degree of impact graph is obtained.
Intellectual capital and firm performance in India: a comparative study between original and modified value added intellectual coefficient model
Goswami M., Maji S.G.
Q3
With the dawn of a knowledge economy, the role of intellectual capital in value creation and sustainable competitive advantage became evident. With increasing importance of intellectual capital, the emphasis on its management and measurement increased manifolds. The Pulic's value added intellectual coefficient (VAIC) model is one such method that has been widely used for measuring intellectual capital and examining the link between IC and firm performance. However, this model has been criticised because of its inefficiency to capture the structural capital of a firm. The present study is a modest attempt to modify Pulic's VAIC model with the primary intention of dealing with the structural capital measurement deficiency. Employing panel data and quantile regression on Indian firms for a period of 15 years from 2000-2001 to 2013-2014, the study finds that both original VAIC model and the modified model advocate in favour of the positive influence of IC and its components on firm performance. With respect to structural capital, the study reveals that the modified VAIC model to some extend captures the structural capital efficiency of a firm more efficiently than the original model.
An investigation into intellectual capital efficiency and export performance of firms in India
Kamath G.B.
Q3
The purpose of this paper is to empirically investigate the impact of intellectual capital (IC) efficiency on the financial and export performance of firms in India. This study uses data of 165 export firms listed on National Stock Exchange (NSE) for a six-year period from 2007 to 2013. In-depth study of four set of high export intensive industries in India viz. textile, chemical, information technology and financial services is done. Ante Pulic's value added intellectual coefficient model in its modified version (M-VAIC) that includes the components of relational capital and innovation capital in IC is used for analysis. The empirical investigation using panel regression found that IC efficiency does influence profitability of all firms in India especially in textile and IT industry. The results further confirmed that productivity and export performance of all firms is highly influenced by human capital efficiency.
Intellectual capital components in Indian microfinance sector: scale development and an empirical study
Barpanda S., Mukhopadhyay S.
Q3
The purpose of this paper is to develop a scale to analyse different components and sub-components of intellectual capital (IC) with special reference to microfinance sector. The data has taken from 252 microfinance institutions (MFIs) providing microfinance service irrespective of their legal status. Exploratory factor analysis and confirmatory analysis used to develop the scale. This supports the classification given by many researchers and confirms the three dimensions of IC are human capital, structural capital and relational capital. But the sub-dimensions seems to be are industry specific with 36 items with nine factors being extracted. The nine sub-dimensions or factors includes client related competencies, decision-making competencies, value driven competencies, processual competencies, infrastructural competencies, MFI-client relationship, MFI-stakeholder relationship, client feedback, and stakeholder dignity. The proposed metrics are a useful benchmarking tool for microfinance practitioners, managers to use to monitor and improve their organisational intellectual capital.
Competition, intellectual capital efficiency and firms' performance outcome in India: a structural equation modelling
Tripathy T., Sahoo D., Kesharwani A., Mishra A.K.
Q3
This study examines the effect of competition and intellectual capital efficiency on firms' performance outcome in an emerging market context. The authors conceptualise a new theoretical model to examine the direct effect of competition on intellectual capital efficiency and firms' performance outcomes and indirect effect of competition through intellectual capital efficiency on firms' performance outcomes in the Indian market. It concludes that competition positively impacts intellectual capital efficiency and firms' market to book value and negatively impacts the firms' return on asset and competitive advantage. However, competition does not have any significant indirect effect on firms' financial performance outcomes via intellectual capital coefficient measures. The results extend the understanding of the direct and indirect effect of competition on intellectual capital efficiency and financial performance outcomes for companies in one of the fastest growing emerging economies.
Relationship between human capital management and organisational performance: an empirical evidence from select Indian banks
Vihari N.S., Singh B., Rao M.K.
Q3
In a dynamic business environment, identifying the most efficient and effective business practice which could sustain the growth prospects of an organisation has been a great challenge. In the light of it, the present study highlights the opportunity of leveraging the organisation's human capital potential to endow with rapid reaction to turbulent environment and enhance performance. This research investigates the impact of HCM drivers on the organisational performance and also attempts to measure the human capital management (HCM) maturity level index, using a sample of 372 respondents from the select Indian public sector banks. Partial least squares structural equation modelling (PLS-SEM) was adopted in order to test the hypotheses. Findings and implications of the study are discussed, along with the limitations and future research avenues.
The effect of intellectual capital on firms' financial performance: an empirical investigation in India
Tripathy T., Alana L.A., Sahoo D.
Q3
International Journal of Learning and Intellectual Capital,
2015,
цитирований: 22,
doi.org,
Abstract
This study empirically examines the effect of the intellectual capital efficiency on firms' financial performance in selected Bombay Stock Exchange listed and permitted Indian companies. Using Pulic's (1998) value added intellectual coefficient (VAIC™) as the efficiency measure of capital employed and intellectual capital, the authors fit panel models to examine the effect of intellectual capital efficiency on firms' financial performance. The result suggests that the component based intellectual capital models explain better than the composite VAIC models. However comparing across the models, it is observed that the physical capital (VACA) positively influences the firms' ROA, which suggests that the physical capital has no doubt remained a key driving force for competitive business performance for firms' in India. The innovative capital efficiency captures additional information on structural capital which positively influences firms' financial performance. The results extend the understanding of the role of intellectual capital in creating corporate value and building sustainable advantages and financial performance for companies in emerging economies, where different technological advancements may bring different implications for the valuation of intellectual capital.
Intellectual capital and its consequences on company performance: a study of Indian sectors
Singh R.D., Narwal K.P.
Q3
International Journal of Learning and Intellectual Capital,
2015,
цитирований: 14,
doi.org,
Abstract
The present study analysed the association of intellectual capital components (human, structural and physical capital) with economic, financial and stock market performance in manufacturing, service and technology sector of India. Value added intellectual co-efficient (VAIC™) method has been applied to measure efficiency of intellectual capital. The results of the study evince that human capital efficiency (HCE) is positively associated with financial performance and negatively associated with stock market performance in all sectors respectively. It is also found that structural capital efficiency (SCE) is not playing any role in improving the economic, financial and stock market performance of the companies. Finally, the study shows that capital employed efficiency (CEE) has a significant impact on economic and financial performance of the companies of all the sectors. The study provides useful suggestions to the researchers, academicians, investors and government regarding importance of intellectual capital measurement and its relation with financial performance.
The extent of disclosure on implicit capital and firm's characteristics: Malaysian experience
Bagchi D., Joshi P.L., Salleh N.M.
Q3
We conduct a study based on disclosure index constructed on implicit capital. Very limited studies have been reported in this segment. The study explores whether the firms are truly revealing those information that are likely to be contributing to the growth and survival of the firm. The sample consists of 114 companies belonging to various industry segments, listed on Malaysian Bursa Stock Exchange, in 2012. Twenty factors are identified that are responsible for keeping the firm competitive. Six hypotheses are built up and are tested using, OLS, stepwise and rank regressions. We find no impact of independent directors, size of the firms as also market performance of the firm, on the quality and quantity of disclosure, but find profitability and good performance of the management of the firms are important factors for higher disclosure, while leverage induces a very low positive impact on disclosures of information on implicit capital.
Intellectual capital performance in Indian banks: a panel data analysis
Soriya S., Narwal K.P.
Q3
International Journal of Learning and Intellectual Capital,
2015,
цитирований: 14,
doi.org,
Abstract
The study aims to examine intellectual capital efficiency and its association with the financial performance in Indian banks. The time period selected for the study spans from 2005-2006 to 2012-2013. OLS, fixed effect and random effect was used to investigate if VAIC is a comprehensive model for measuring intellectual capital performance and whether its components can act as strong predictor of corporate financial success. Corporate financial performance is measured through bank growth, employee productivity and bank profitability. The results found that SCE is significantly associated with bank profitability, growth and employee productivity. ADE used as measure of advertising efficiency is also significantly associated with BP and GR. The study is an addition to the current knowledge of intellectual capital in the organisations. It will also assist the developers of the accounting standards to make the use of findings to determine the possible necessary changes in the present accounting policies for better representation of the intellectual capital.
Performance of intellectual capital in Indian healthcare sector
Vishnu S., Gupta V.K.
Q3
International Journal of Learning and Intellectual Capital,
2015,
цитирований: 14,
doi.org,
Abstract
Measurement of intellectual capital efficiency and its impact on the financial performance of companies is a commonly researched domain. A significant section of researchers have used the Value Added Intellectual Coefficient (VAIC™) model – an accounting data-based measurement model, for this purpose. However, the contemporary literature criticises this model for non-inclusion of relational capital and perfect interdependency between intellectual capital components. This study addresses these shortcomings by presenting an extended and modified version of the VAIC™ model. Relational capital has been added as a new variable. This new model has been tested on the healthcare firms of India. A comparative analysis of the two models has also been done. Regression results do not encourage the inclusion of relational capital in VAIC™. During comparative study, the coefficient of determination values suggest that the proposed model may be preferred over VAIC™ for all the three performance variables – return on assets, return on equity and return on sales. These findings have academic as well as practical implications.
Effect of intellectual capital on competitive advantage and business performance: role of innovation and learning culture
Chahal H., Bakshi P.
Q3
International Journal of Learning and Intellectual Capital,
2014,
цитирований: 26,
doi.org,
Abstract
The purpose of the study is to present and conceptualise the framework of intellectual capital. The study discusses the role of innovation in the relationship between intellectual capital and competitive advantage. It would take into consideration the moderating role of learning in the relationship between intellectual capital and innovation as well as intellectual capital and competitive advantage. The study also seeks to explore the impact of intellectual capital on competitive advantage and business performance. The study is based on critical review of literature based on intellectual capital, competitive advantage, business performance, innovation and learning culture. The study conceptualises the framework of intellectual capital and considers the role of innovation as a mediating factor and learning as a moderating factor. The conceptual nature of the study is the main limitation.
