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Purpose – Intangible resources are the most distinctive firms’ assets in competitive environments especially in service businesses. Insurance firms seeking more efficient performance than competitors should improve their intellectual capital (IC) strategies in both aspects of IC creation and utilization. The purpose of this paper is to investigate and improves IC participation in insurance firms’ efficiency. Design/methodology/approach – A two-phase framework: “explaining IC role in efficiency” and “measuring efficiencies of IC creation and application” is developed in order to find IC strategies increasing firms’ efficiency and though competitiveness. Efficiency is measured using data envelopment analysis and the generalized estimating equations is used as the regression method in order to explain efficiency with IC measures. Findings – Empirical results in Iran insurance sector (during a seven-year period for 17 Iranian insurers) show some IC components influence firms’ efficiency and could be intervention points for performance improvement. Then the firms are categorized into four zones in terms of IC efficiency and strategies are recognized for each category. Research limitations/implications – Although the research is initiated by the need to embed intangible resources in performance improvement in insurance sector, the research framework could be strongly applied in other knowledge-based industries. Originality/value – This paper embeds an innovative link between classic efficiency and IC which aligns resource management with competitiveness strategies. [ABSTRACT FROM AUTHOR]

Purpose - The purpose of this paper is to study the relationship between intellectual capital (IC) and performance of pharmaceutical firms in India. The secondary objective is to propose and test modified models of Value Added Intellectual Coefficient (VAIC™) method. Design/methodology/approach - Data on 22 large pharmaceutical firms collected for empirical investigation. Return on assets and return on sales are performance variables. IC and its components - human capital, structural capital and relational capital (RC), are predictor variables. Three extended and modified VAIC™ models (e-VAIC™) are proposed. Multiple regression technique is applied on pooled data to draw inferences. Findings - Results show instances of positive relationship between IC and performance variables. RC, the new variable, does not demonstrate statistically significant relationship with performance variables. Research limitations/implications - Due to inadequate reporting of IC and its components, availability of data on various proxies is difficult. The new models proposed in this paper can be a template for future research and model development. Practical implications - VAIC™ model, the proposed models (e-VAIC™) and the result analysis can be useful for evaluation and value creation purposes. Originality/value - Previous researchers use original VAIC™ model. This paper modifies and extends the model in accordance with contemporary description and typology of IC. Inclusion of RC as a variable in VAIC™ model and use of new proxies for components of IC are the novelties of this paper. [ABSTRACT FROM AUTHOR]

Purpose – The basis of value creation has shifted from tangible factors of production towards intangible resources such as intellectual capital (IC) (e.g. Grant, 1996). The average organisation’s IC has been estimated to be three to four times over its book value (Edvinsson and Malone, 1997); thus, it is vital for companies to understand how it is created, managed, measured and evaluated. However, there are still many debated and complex issues, and the empirical measurement of IC is one of those. The purpose of this paper is to determine if IC systematically influences firm performance. Design/methodology/approach – A systematic review procedure was utilised as this study’s research design. Findings – The findings demonstrate that IC influences firm performance mainly through interactions, combinations and mediations. Also, there is a great deal of evidence on the significant relationship between IC and firm’s innovation performance. Research limitations/implications – This paper reviews only empirical studies based on survey data and statistical methods of analysis. Practical implications – The research points to some focal aspects of IC that are associated with firm performance. Originality/value – This is the first study to review empirical literature on IC and firm performance. It increases the current understanding by bringing together the research related to the issue and drawing meta-level analysis. [ABSTRACT FROM AUTHOR]

Purpose The purpose of this paper is to determine the predominant classification of intellectual capital (IC), in terms of components, using the literature of reference on the relationship between IC and performance and considering multi-dimensional analysis axes (MAAs): organisational, regional and national.Design/methodology/approach A systematic literature review (SLR) is presented focussing on empirical studies on IC published in the period 1960-2016. A protocol for action is defined and a research question is raised, gathering data from the databases of: Web of Science, Scopus and Google Scholar. A social network analysis is also provided to determine the type of networks embracing groups, IC individual components and performance type.Findings Of the 777 papers included in the SLR, 189 deal with the relationship between IC and performance. The paper highlights the greater development of empirical studies starting from 2004; the organisational MAA is the most studied. The most frequently used groups of components in studies dealing with IC’s influence on performance corresponds to a triad of human capital; structural (organisational or process) capital; and relational (social or customer) capital, which determine positively the performance of organisations/regions/countries, but their influence is not linear and depends on various factors associated with the context and surrounding environment.Practical implications This study has wide-ranging implications for politicians/governments, managers and academics, providing empirical evidence about the relationships between the components of IC and performance, by MAAs, and a global vision and better understanding of how those IC components have developed and how they are related to performance.Originality/value Due to the high number of references covering a wide range of disciplines and the various dimensions (e.g. organisational, regional and national) that form IC, it becomes fundamental to carry out an SRL and systematise its MAAs to deepen knowledge about what has been discovered/developed in this domain, in terms of empirical studies, in order to situate the topic in a wider theoretical-practical context. The paper is exceptionally wide-ranging, covering the period 1960-2016. It is one of the first clarifying studies on systemisation of the literature on IC, by MAA, and an in-depth study of IC’s impact on the performance of organisations/regions and countries which may serve as a guideline for future studies using the taxonomy proposed. [ABSTRACT FROM AUTHOR]

Purpose – The purpose of this paper is to examine whether strategic intent influences developing intellectual capital (IC) and if IC affects performance measured in terms of product and service diversification within small and medium enterprises over time. Design/methodology/approach – This study discusses if and how structural equation models can be located within the third stage of IC research, and subsequently presents an analysis developed using 1,392 questionnaire responses through a temporal lens. Findings – Empirical results show how relational, human and structural capital strongly connects to support a firm’s performance measured in terms of product and service diversification. Additionally, IC and strategic intent influence each other creating a constraint effect on one side and an ambition effect on the other. Interestingly, the constraint effect is much higher than the ambition effect, and this falls in line with a contingency approach to strategic intent. Practical implications – Several practical implications are developed. First, results show that high regulation where firms can offer mandatory product/services can limit IC development. Therefore the findings contribute to the dialogue between policy makers, managers and businesses. Second, business schools should consider how strategic intent contributes to developing IC in order to design future curricula for accounting and management studies. Third, firms that operate in similar contexts should pay attention to managerial myopia due to low competition where a significant part of firms’ revenues is from mandatory product/services. Originality/value – This paper contributes to the existing literature by investigating how IC affects strategic intent and how strategic intent fosters IC development. Additionally, findings build on existing theory, helping to understand how IC affects performance measured in terms of portfolio diversification. [ABSTRACT FROM AUTHOR]

Purpose – The purpose of this paper is to identify the intellectual capital (IC) performance of the Romanian companies, to empirically examine the association between IC performance and traditional corporate performance and to analyse the relative importance of various components of IC on the company's performance. Design/methodology/approach – Value Added Intellectual Coefficient model (VAICTM) is applied to measure IC performance. Traditional corporate performance is measured through profitability, productivity and market value. In total, 12 null hypotheses are tested using multiple regression analysis where another two control variables (firm size and industry type) are generally included. Findings – Entities creating value from their intellectual, physical and financial resources are penalized by the capital market. Capital employed has an insignificant role in both value creation and in reducing company's production costs. Market value is not necessarily improved by a properly managed structural capital but is influenced by company size. Human capital plays a major role in productivity variation. Research limitations/implications – Results related to the impact of control factors are mixed and sometimes not significant. Additional research could introduce other control factors, may investigate paper's hypotheses across time, revisit some of the basic assumptions of the VAICM and assess their potential consequences for the validity of empirical testing and results. Originality/value – This is the first study that replicates VAICTM in the case of Romanian companies. It provides valuable insights about corporate performance in an emerging economy and into the association between IC and traditional corporate performance. It enriches both IC and management literature with new empirical evidence and provides a basis for comparison with other studies. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this study is to investigate how Knowledge Management (KM) and Intellectual Capital (IC) can increase the organizational performance of ambulatory healthcare providers and how such performance can be assessed. Design/methodology/approach: Following the PRISMA guidelines, a structured review of peer-reviewed English-speaking articles up to 31st December 2019 was conducted. A search of ACM Digital Library, Cochrane Library, DARE, EBSCOHost, Medline, ProQuest, PubMed, ScienceDirect, Scopus and Web of Science produced 8,391 results. All studies that did not examine the impact of KM initiatives on organizational performance in an ambulatory healthcare provider setting were eliminated. The final sample of 31 studies was examined regarding the design of the KM initiatives as well as the performance concepts and indicators employed. Findings: A range of KM tools and methods (Electronic Health Records, Clinical Decision Support, Health Information Technology, Training, Communities of Practice) have been shown to improve healthcare processes but evidence of an impact on outcomes remains mixed. Performance indicators focus on medical quality but rarely capture economic or social performance. Indicators have been adapted from the medical field, but do not adequately capture IC and KM-induced performance. Originality/value: This review provides an overview of KM initiatives in ambulatory healthcare and assesses the associated performance metrics through an IC lens. Thereby, it enables further research on the interplay of IC, KM and performance in ambulatory care and points to several research gaps. It provides managers with guidance for designing KM initiatives in their organizations [ABSTRACT FROM AUTHOR]

For quite a while the issues of knowledge management, innovation and performance measurement have been on the agenda of researchers and practitioners alike throughout the world. Not too long ago it was recognised that there are direct cause and effect relations between knowledge reuse and invention. The present paper therefore discusses the constituent elements of innovation from a knowledge perspective which have been identified in the context of a European Union co-sponsored research project. The six facts of the "innovation cube" are: reuse of existing knowledge; invention of new knowledge; exploitation (i.e. turning knowledge into value); stakeholders' contributions (to the innovation life cycle); the enabling ecology or operating context in which the innovation occurs; and the performance facet, i.e. the bottom line. A toolkit based on performance measurement thinking and implementation process for better management of the balance between reuse and invention in development environments is proposed and results from their deployment in three real-life case studies are discussed. [ABSTRACT FROM AUTHOR]

Breaks with the prior literature on intellectual capital disclosure practices in two major ways. First, provides a longitudinal examination of intellectual capital disclosure practices in the annual reports of 31 FTSE 100 listed companies from 1996-2000. Second, investigates the relationship between intellectual capital performance and the extent of intellectual capital disclosure. Between 1996 and 2000 the quantity of intellectual capital disclosure increased. Empirical findings did not indicate a systematic relationship between intellectual capital performance and the quantity of disclosure during the survey period. Results, however, suggest that if intellectual capital performance is too high the amount of disclosure is reduced. This negative association may support the suggestion that firms reduce intellectual capital disclosures when performance reaches a threshold level for fear of competitive advantage being lost. Leverage, industry exposure and listing status was also found to have an influence on the quantity of disclosure. [ABSTRACT FROM AUTHOR]

Purpose: High-growth firms generate a large share of new jobs and are thus the key drivers of innovation and industry dynamics. As the employees' education supports innovation and productivity, this article hypothesizes that employee competences explain high growth. Design/methodology/approach: The study approaches this by examining intangible capital and specialized knowledge to evaluate how these characteristics support the probability of becoming a high-growth firm. The estimation uses linked employer–employee data from Danish registers from 2005 to 2013. Findings: As the authors measure high growth with the size-neutral Birch index, they can examine the determinants of high growth across different firm size classes. The findings imply that intangible capital relates positively to the firm's high growth. Originality/value: Previous research on high-growth firms is concentrated on the owners' education. This article broadens to the high education of all employees and accounts for the employees' occupation and capitalization of knowledge with intangible capital. [ABSTRACT FROM AUTHOR]