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Purpose: The main purpose of this paper is to analyse the influence of capital efficiency on the economic growth of Bangladesh using the Harrod-Domar (H-D) model. Design/methodology/approach: We use annual data from 1980 to 2019 for this paper. Three steps are taken in the data analysis. First, to check the existence of a unit root, we use the augmented Dickey-Fuller (ADF) test and to determine co-integration among the variables, we use the Johansen-Juselius co-integration test. Next, for long-run estimation, we use the dynamic ordinary least square (DOLS) estimator. The sensitivity of the long-run estimations is further checked by the fully modified OLS (FMOLS) and autoregressive distributed lag (ARDL) estimators. Lastly, we use the Granger causality test to determine the long-run causality among the variables. Findings: The long-run co-integration test validates the co-integrating relationship among the variables. DOLS estimations reveal that the economic growth of Bangladesh is negatively associated with the incremental capital output ratio (ICOR), validating the notion that capital efficiency matters for achieving higher economic growth. On average, an increase in ICOR by a unit tends to reduce economic growth in the long term by 0.75 percent. Our results also reveal no significant relationship between savings and economic growth when the model is extended. Finally, causality results indicate unidirectional causality between ICOR and economic growth. Practical implications - Based on the results obtained, we argue that the enhancement of capital productivity could bring efficiency because ICOR is an inverse of capital productivity. Since Bangladesh's capital productivity is considerably low compared with other neighbouring countries, it is suggested that firms should gradually move towards technological advancement and enhance economies of scale, etc. in the long run. Moreover, policies in favour of continuous skill development programmes could be highly effective in increasing capital productivity given that capital follows a vintage structure. Originality/value: This is the first paper to analyse the economic growth pattern of Bangladesh using the traditional H-D model by incorporating variables such as savings and ICOR and also by relaxing the assumption of time-invariant (i.e. fixed) data of the variables. Moreover, this paper extends the traditional H-D empirical model by introducing key indicators and time breaks for Bangladesh's economy through a stepwise regression process. [ABSTRACT FROM AUTHOR]

Purpose: The outcomes of information behaviours have traditionally been conceptualised as use or effects. The adoption of a sociological stance, based on a practices approach, provides the opportunity to challenge these understandings. The non-Western setting further enhances the possibilities for conceptualising the outcomes of information practices as forms of capital. Design/methodology/approach: This ethnographic study uses a Bourdieusian approach to investigate the information practices of diasporic devotees and monks of a Theravada Buddhist Temple in Sydney, Australia. The insider position of one researcher brought strong insights into the data, while the theoretical approach shared with the other researchers reinforced an outsider perspective. Findings: The Temple's online sources and personal communication with other devotees provide a diverse range of sources that devotees use in information-based cultural practices and everyday life information practices. These practices lead to outcomes that can be identified as economic, social and cultural capital. Pin or merit emerges as an important outcome of practices which is not easily accommodated by the concept of outcome, nor by Bourdieu's categories of capital. Originality/value: Adding to the small number of studies concerned with information practices in a spiritual context, this study shows the value of a Bourdieusian approach in identifying the outcomes of information practices as capital, but highlights the shortcomings of applying Western concepts in non-Western settings. It proposes the possibility of a new form of capital, which will need to be tested rigorously in studies in other spiritual settings. [ABSTRACT FROM AUTHOR]

Purpose: In recent years, interest in analysing the conceptualisation, measurement, determinants and consequences of sustainability orientation (SO) has intensified. The authors respond to a growing demand for research that delves into external and relational factors of SO in the context of hospitality and tourism industry. This paper aims to analyse how market dynamism (MD) influences the SO of firms in heritage tourism destinations (HTDs) and how bridging capital affects this relationship. Design/methodology/approach: The authors empirically analysed a sample of 238 companies in the UNESCO World Heritage Cities of Peru. The proposed hypotheses have been tested using partial least squares structural equation modelling. Findings: The results show a curvilinear relationship between MD and SO. Furthermore, bridging capital enhances the effects of MD, reducing the focal width of the U-shaped curve. Specifically, when hospitality and tourism firms (HTFs) in tourist destinations operate in environments with low-medium levels of dynamism, the diverse links generated slow down the development of an SO. However, the more dynamic the environment, the greater is the SO of firms with large amounts of bridging capital. Practical implications: The findings highlight the importance of conducting an analysis based on a contingent approach that considers the coherence between external elements of the environment and internal factors. Such an approach helps to understand how HTFs in developing countries establish their SO. Managers should be aware of changes in demand and seek coherence between the level of MD and their inter-organisational relationships, and so be able to assess potential opportunities through developing an SO. Originality/value: This study contributes to a better understanding of the sustainability commitment of HTFs in the sustainability of HTDs. This study connects the population ecology and social capital approaches, explaining this relationship from a disaggregated perspective – social and environmental – in the context of a developing country. [ABSTRACT FROM AUTHOR]

Purpose: This study aims to examine the impact of sustainable practices as proxied by the environmental, social and governance (ESG) score on capital structure. It also investigates whether ESG performance influences the speed of adjustment (SOA) to target leverage in firms. Design/methodology/approach: The sample covers 116 non-financial firms listed on the main stock exchanges from five Southeast ASEAN countries (Bursa Malaysia, Indonesia Stock Exchange, Philippines Stock Exchange, Singapore Stock Exchange and Stock Exchange of Thailand) over the period 2012–2019. The study adopts the OLS regression and system-GMM estimators to perform the data analysis. Findings: The authors show that the ESG score is positively associated with book leverage, suggesting that firms increase their debt capital through sustainable practices. However, they find that the ESG score is negatively associated with market leverage across our model estimations. The authors also reveal that environmental, social and governance pillar scores produce about 7.82%, 2.88% and 0.47% SOAs, respectively, higher than the SOA of the traditional SOA without the ESG factor. The aggregate ESG score has about 3.41% SOA higher than the baseline SOA without the ESG factor. Practical implications: This study is of interest to investors, corporate firms and policymakers. The study demonstrates that the ESG score increases the firm's SOA to target leverage. By disaggregating the ESG score, the authors establish that ESG pillar scores produce higher SOAs than the traditional SOA (without ESG), with the environmental score inducing the fastest SOA. Practically, the study implies that environmentally sustainable activities reduce environmental transaction costs, benefit firms through better information transparency and enhance a trustful climate between the firm and suppliers of capital. Therefore, this study demonstrates that firms do not only incur the cost of disseminating ESG information but also benefit from lower information asymmetry and a higher SOA with better tax-deductible advantages. Social implications: The findings have combined advantages for both stakeholders and directors who monitor and manage the firms' resources to improve the quality of ESG practices and initiatives. Originality/value: To the best of the authors' knowledge, this study is among the first to establish that sustainable practices induce higher debt capital. Secondly, unlike prior research focusing on the cost of capital, the authors examine whether ESG performance affects capital structure patterns. Thirdly, it documents the extent to which sustainable practices influence the SOA towards target leverage in firms. The authors contribute to corporate finance literature that firms reach faster to their target leverage in the presence of ESG performance. Theoretically, through the notion of the stakeholder proposition, the study establishes that the firms' pursuance of stakeholder goals further enhances the prediction of the trade-off theory. [ABSTRACT FROM AUTHOR]

Purpose: This study seeks to understand the nexus between intellectual capital and profitability of healthcare firms in India with interaction effects. Design/methodology/approach: Relevant data were extracted from the Centre for Monitoring Indian Economy (CMIE)'s Prowess database for a period of ten years 2009–2018 for a sample of 84 selected firms from the healthcare industry. This study uses value added intellectual coefficient (VAIC) and modified value added intellectual coefficient (MVAIC) as a measure of intellectual capital. Further, the study employs panel regression techniques to explore the relationship between intellectual capital and profitability. Findings: The empirical findings reveal that the intellectual capital coefficient of healthcare firms in India averages 2.7757. It is also observed that a majority of the healthcare firms' intellectual capital coefficient is below the industry average. From the regression analysis, it is evident that the intellectual capital coefficient is positively related to the profitability of healthcare firms in India. As far as the components of intellectual capital coefficient are concerned, the capital employed coefficient (CEC) is the only component driving the profitability of healthcare firms in India. A further introduction of interaction terms improves model explainability and moderates the impact of the predictor variable on the response variable. Furthermore, it is observed that the intellectual capital coefficient of the healthcare industry is immune to changes in political regimes in India. Practical implications: The findings reveal that intellectual capital is an important driver of corporate performance, thus healthcare firms in developing economies like India need to enhance their intellectual potential. Therefore, corporates and governments in developing economies should stimulate investments in developing intellectual capital for enhanced corporate performance and economic growth. Thus, this study might be used as a reference by policymakers while drafting the future policy for the development of intellectual capital in general and healthcare sector specifically. Originality/value: This is among the first few studies to explore such an empirical relationship for healthcare firms in India and among the few studies of this kind across the globe. It also makes novel contributions in considering interaction variables and seeking the consistency of results across different political regimes. However, the study examines one nation and one industry; thus, the generalisation of findings requires caution. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this paper is to enrich the scientific and managerial debate on intangibles by placing the concept of key money within the broader concept of Intellectual Capital, and by proposing an evaluation approach for a portion of the latter, focusing the analysis on fashion retailers. Design/methodology/approach: This research focuses on the fashion industry, given that key money gains particular significance and accounted for in fashion retailers' financial statements. A comparative case study is presented with regard to the application of two evaluation methods proposed to some fashion retailers operating in Italy. Findings: This paper defines a suitable placement for key money within the vast structure of intellectual capital. The research shows that the two methods give "very close" key money values, thus laying the foundations for a theoretical articulation of interest to be further explored in future researches. Originality/value: The document represents a first in-depth examination regarding the evaluation and inclusion of key money in the intellectual capital. A further element of originality lies in having interpreted the key money in a perspective closer to the world of intangibles and competitive strategies, to the detriment of the previous (meagre) settings that placed it within the real estate branches of study. [ABSTRACT FROM AUTHOR]

Purpose: The main objective of this paper is to analyse the content and extent of human capital disclosure by Spanish companies. It studies various factors related to the board of directors' composition and functioning. These factors can be seen as mechanisms of corporate governance and the moderating role of managerial ownership, which help predict the behaviour of managers in relation to the human capital disclosure. Design/methodology/approach: This study develops and applies a more comprehensive framework for coding information on human capital, integrating the intellectual capital and social responsibility perspectives in order to explain the content and extent of human capital disclosure. The research was based on a content analysis of 210 corporate reports from 2007 to 2016. A system-GMM estimator was used to test the hypotheses in four dynamic linear regression models of balanced panel data in order to address concerns of endogeneity. Findings: The results show that companies are adapting to new regulations and voluntarily disclosing information on human capital – a trend which signals their commitment to responsible attitudes towards employees and stakeholders. The results also show that board composition and functioning are mechanisms of supervision, control and legitimacy that promote human capital disclosure, with managerial ownership acting as moderator for aligning interests between managers and stakeholders. Originality/value: This study contributes to the literature on human capital disclosure by introducing a broader conception of human capital to coding information. It accomplishes this through considering aspects of the intellectual capital and social responsibility approaches, which provide a better understanding of companies' human capital disclosure. In addition, it seeks to enrich the debate about the effects of corporate governance mechanisms– such as boards of directors and managerial ownership – on human capital disclosure. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this study is to find evidence of the impact of intellectual capital on firm value, and, in turn, enhance the existing literature which lacks consensus on it. By employing some distinctive proxies for human capital, innovation capital, customer capital and process capital, this study might provide valuable information for firms to make strategic decisions. Design/methodology/approach: This study uses Tobin's Q to represent firm value and various variables to be the proxies for intellectual capitals. By utilizing firm-year observations, this study applies panel data models first, and then Petersen regression models for further investigation to enhance the robustness of the empirical results. Findings: Firm value is affected positively by the average net profit per employee as well as goodwill and intangible assets. This is because firms having employees with abundant knowledge will possess advantage for innovation, and the excellent reputation, a part of goodwill for oriental firms, would encourage people to consume and invest more. Research limitations/implications: The constraint of data resource is the main limitation. With the limited scales and as an emerging market of Taiwan Stock Exchange, it is not confirmed whether the results are appropriate for the developed markets. Nevertheless, firms should make efforts on developing intellectual capital and corporate governance for operating businesses with competitiveness and safety. Originality/value: Since capable employees enhance the innovation, innovation improves customer's satisfaction and good customer relationship increases the sales; this study illustrates that for expanding businesses, firms should make more efforts on developing intellectual capital. [ABSTRACT FROM AUTHOR]

Purpose: This paper reviews the development of knowledge creation theory in the last quarter-century and how it has contributed to innovation management and looks into social and human aspects of innovation in the era of "Society 5.0". Design/methodology/approach: This research aims to relate basic theoretical concepts: knowledge creation and knowledge assets, purpose, leadership, and place (Ba) for innovation to drive innovation and its management as a whole ecosystem. It also discusses the application to innovation management systems open innovation, and social innovation. Findings: Today's innovation demands socio-economic fusion that goes beyond current corporate boundaries. By preparing the system (knowledge ecosystem) as the basis, we could build the bridge, and such fusion would be possible. Research limitations/implications: This paper shows the framework of the idea. Evidence-based research based on "knowledge assessment" will be discussed on another occasion. Originality/value: This research is to explain knowledge management, innovation, and social innovation beyond the corporate framework. [ABSTRACT FROM AUTHOR]

Purpose: This study examines whether relational capital influences self-disclosure behavior through the mechanism of needs-based motivation in virtual communities. Design/methodology/approach: This study adopts hierarchical linear model (HLM) to differentiate between the relationships at different levels, with 378 online questionnaires recovered from 42 virtual communities. Findings: The results show that group-level relational capital is positively related to self-disclosure and affects it through the partially mediating mechanism of motivation. Relational capital also strengthens the positive influence of the need to be on trend on individual self-disclosure behavior. Originality/value: This study makes four research contributions. Firstly, we identify the means by which relational capital established within a virtual community influences user disclosure behavior. This focus differs from those of previous studies, which have emphasized privacy and security of information systems, cost–benefit considerations, and/or adopted personality traits as the research basis. Secondly, this study examines and verifies the mediating mechanism of motivation, establishing an alternative perspective for theoretical studies, and providing future studies with a reference for investigating the self-disclosure behavior of members. Thirdly, this research introduces and verifies the moderating effects of relational capital based on member relationships, thus making further theoretical and empirical contributions. Finally, we adopt HLM to conduct our analyses, thereby ensuring higher precision regarding the explanatory power of group-level explanatory variables for individual-level dependent variables. [ABSTRACT FROM AUTHOR]