Intellectual capital and performance of listed companies: empirical evidence from Italy

2014 ◽  
Vol 18 (1) ◽  
pp. 22-35 ◽  
Author(s):  
Domenico Celenza ◽  
Fabrizio Rossi
Keyword(s):  
Explanatory Power ◽  
Value Added ◽  
Listed Companies ◽  
Cross Sectional ◽  
Content Type ◽  
Accounting Performance ◽  
And Performance ◽  
The One ◽  
Two Stages ◽  
The Relationship

Purpose – The aim of this paper is to investigate the relationship between corporate performance and Value Added Intellectual Coefficient (VAICTM) on the one hand, and the relationship between the variations in market value and the variations in VAIC on the other hand. Design/methodology/approach – Starting from the VAIC model, 23 Italian listed companies were examined with the aim of investigating the relationship between VAIC and the performance of the firms in the sample. The analysis was divided into two stages. In the first stage, eight models of linear regression were estimated to verify the presence of a positive and statistically significant relationship between M/BV and VAIC and between accounting performance indicators (ROE, ROI, ROS) and the VAIC. In the second stage, six other models were tested, considering as an independent variable the variations in VAIC and the variations in profitability indicators. Findings – The outcomes of the application stress the importance of VAIC in the explanation of the variations in MV and its role as “additional coefficient” in the analysis of equity performance. Originality/value – This methodology highlights some very interesting aspects. In particular, whereas the relationship between M/BV and VAIC and between profitability indicators (ROI, ROE, ROS) and VAIC is statistically insignificant, the subsequent analysis highlights the importance of VAIC as a variable capable of increasing the explanatory power of the regression in a cross-sectional perspective.

Relationship between corporate governance and audit switching: Iranian evidence

2017 ◽  
Vol 59 (5) ◽  
pp. 673-686
Author(s):  
Mahdi Salehi ◽  
Ali Asgar Alinya
Keyword(s):  
Corporate Governance ◽  
Design Methodology ◽  
Stock Exchange ◽  
Listed Companies ◽  
Panel Analysis ◽  
Cross Sectional ◽  
Content Type ◽  
Effective Factors ◽  
Dependent Variables ◽  
The Relationship

Purpose This paper aims to investigate the relationship between corporate governance and auditors switching of listed companies on the Tehran Stock Exchange. Design/methodology/approach To achieve the objectives of this study, 12 hypotheses developed which and tests the relationship between corporate governance and selecting and switching auditors in Iran during 2008-20014 by selecting 116 listed companies on the Tehran Stock Exchange. To test the hypotheses, the cross-sectional time-series nature of research variables data, panel analysis is used. Also, to investigate the relationship between independent and dependent variables in each year, the logistic regression is used. Findings The results of the study indicate that there is a weak relationship between corporate governance auditors switching. Therefore, it could be concluded that there are some other effective factors on which selecting and switching auditors in studied companies are more dependent. Originality/value The current study is almost the first study which has been conducted in Iran, so the results of the study may be beneficial to the Iranian conditions as well as other developing countries.

Determinants of successful implementation of donor-funded projects in Uganda

2015 ◽  
Vol 42 (12) ◽  
pp. 1139-1154 ◽  
Author(s):  
Shafic Mujabi ◽  
Samson Omuudu Otengei ◽  
Francis Kasekende ◽  
Joseph Mpeera Ntayi
Keyword(s):  
Risk Management ◽  
Explanatory Power ◽  
Empirical Literature ◽  
Hierarchical Regression ◽  
Successful Implementation ◽  
Project Implementation ◽  
Content Type ◽  
Organizational Rationality ◽  
And Performance ◽  
The Relationship

Purpose – The purpose of this paper is to examine, empirically the relationship between organizational rationality, knowledge management (KM), risk management and successful implementation of donor-funded projects in Uganda. Design/methodology/approach – Data were obtained from 195 project managers of donor-funded projects both managed within government systems and those outside government using a questionnaire. Zero-order correlation analysis and hierarchical regression analysis were employed to analyze the data. Findings – The paper has two major findings: all the predictor variables are positively and significantly related to successful project implementation; and the relationship is strong enough to cause a 23 percent (R²) increase in the explanatory power in the presence of control variables. Research limitations/implications – The study focussed on selected donor-funded projects in Uganda and this limited the generalization of the findings. Moreover, there was also limited availability of local empirical literature with respect to implementation and performance of donor-funded projects. Practical implications – The results suggest that organizations that embrace organizational rationality, risk management and KM succeed in project implementation. Originality/value – There are many studies that investigate the practices adopted by organizations that implement donor-funded projects, however, this is the first study to the authors’ knowledge that examines the relationship between KM, rationality, risk management and successful implementation of donor-funded projects in Uganda.

Community and public-private partnership projects in Uganda: community engagement, trust and performance

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Isaac Wanzige Magoola ◽  
Rogers Mwesigwa ◽  
Ruth Nabwami
Keyword(s):  
Community Engagement ◽  
Quantitative Research ◽  
Public Private Partnership ◽  
Research Approach ◽  
Cross Sectional ◽  
Private Partnership ◽  
Content Type ◽  
Level Data ◽  
And Performance ◽  
The Relationship

Purpose The purpose of this paper is to provide the initial evidence of the relationship between the community and public-private partnership (PPP) projects by focusing on community engagement, trust and performance. Design/methodology/approach This study is cross sectional and correlational and it uses project level data that were collected by means of a questionnaire from a sample of 47 PPP projects in Uganda. Findings Results indicate that trust and community engagement are significantly associated with the performance of PPP projects. Research limitations/implications This study was cross-sectional, and thus monitoring changes in behaviour over time was not possible. The study used a quantitative research approach and this limits respondents from expressing their feelings fully. The study was conducted in Uganda and it is possible that the results of this study can be generalized to developing countries with environments similar to that of Uganda. Practical implications The results are important for PPP projects to understand the role that trust and community engagement play in as far as the performance of PPP projects is concerned. Originality/value Whilst there have been a number of studies on the performance of PPP projects, this study provides initial empirical evidence on the influence of trust and community engagement on the performance of PPP projects using evidence from PPP projects of an African developing economy – Uganda.

scholarly journals Impact of board structure on firm performance: evidence from an emerging economy

2017 ◽  
Vol 11 (2) ◽  
pp. 210-228 ◽  
Author(s):  
Qaiser Rafique Yasser ◽  
Abdullah Al Mamun ◽  
Marcus Rodrigs
Keyword(s):  
Firm Performance ◽  
Firm Value ◽  
Stock Exchange ◽  
Economic Value ◽  
Value Added ◽  
Listed Companies ◽  
Board Structure ◽  
Content Type ◽  
Firm Financial Performance ◽  
The Relationship

Purpose The aim of this paper is to examine the association between board demographics and firm financial performance of Karachi Stock Exchange companies and describe the attributes of these firms and their boards. The connection between board structure and firm performance has attracted much attention, especially in emerging economies, yet yielded many inconsistent empirical results. Design/methodology/approach This study examines the relationship between board structure and the performance of Pakistani public listed companies by using a sample of Karachi Stock Exchange 100 (KSE-100) indexed companies. This study exploits the corporate performance by accounting-based measures (return on assets), market-based measures (Tobin’s Q), and economic profit (economic value added). Findings The outcome of the study shows the positive relationship between the board size, minority representation in board, and family director’s in-board and firm performance. The authors also find that, instead of adding value, independent directors in Pakistan are negatively associated with firm value. Research limitations/implications The study is based on KSE-100 indexed companies from 2009 to 2013; however, a large sample and multiple years’ data are required. Practical implications The paper provides empirical evidence that board independence is not necessary for public-listed companies in Pakistan and would be of interest to regulatory bodies, business practitioners, and academic researchers. Originality/value The paper contributes to the literature on corporate governance and firm performance by introducing a framework for identifying and analyzing moderating variables that affect the relationship between board structure and firm performance.

scholarly journals Lending terms, financial literacy and formal credit accessibility

2014 ◽  
Vol 41 (5) ◽  
pp. 342-361 ◽  
Author(s):  
Stephen Korutaro Nkundabanyanga ◽  
Denis Kasozi ◽  
Irene Nalukenge ◽  
Venancio Tauringana
Keyword(s):  
Interest Rates ◽  
Commercial Bank ◽  
Financial Literacy ◽  
Structural Equation ◽  
Small And Medium Enterprises ◽  
Explanatory Power ◽  
Bank Lending ◽  
Cross Sectional ◽  
Content Type ◽  
The Relationship

Purpose – The purpose of this paper is to investigate the relationship between commercial bank lending terms, financial literacy and access to formal credit by small and medium enterprises (SMEs). Design/methodology/approach – In this cross-sectional study, the authors surveyed 384 business owners or managers of SMEs in Uganda. The authors applied confirmatory factor analysis to reduce the number of factors and identify the important elements that capture commercial lending terms, financial literacy and access to formal credit. The authors put forward and tested two hypotheses relating to the significance of the relationship between perceived commercial bank lending terms, financial literacy and access to formal credit using structural equation modelling with analysis of moment structures 18. Findings – The results suggest a positive and significant relationship between perceived commercial bank lending terms, financial literacy and access to formal credit. Moreover, the ANOVA results serendipitously show that access to formal credit varies with type of business and turnover. However, collateral and loan repayment periods are not observed variables for commercial bank lending terms. The most significant observed variable for commercial bank lending terms is interest rates. This, together with financial literacy, explains 31 per cent of the variances in access to formal credit by SMEs in Uganda. Research limitations/implications – The study is limited to the SME firms registered and operating in Kampala, Uganda and it is possible that the results are only applicable to these firms in Uganda. Nevertheless, the findings have implications to commercial banks wishing to improve the turnover of their micro-lending schemes. Practical implications – Efforts by the stakeholders to improve financial literacy of SMEs owners and managers must be matched with favourable interest rates if access to formal credit is to be enhanced. Social implications – The findings also have implications for governments aiming at improving access to finance to overcome income inequality problems, and also improve their growth. Originality/value – The results provide initial evidence of the aggregate explanatory power of interest rates and financial literacy for the criterion variable, access to formal credit by SMEs.

scholarly journals The Relationship between Working Capital Management, Financial Constraints and Performance of Listed Companies in Tehran Stock Exchange

2017 ◽  
Vol 10 (2) ◽  
pp. 248 ◽  
Author(s):  
Ali Kowsari ◽  
Mohammad Reza Shorvarzi
Keyword(s):  
Financial Constraints ◽  
Negative Impact ◽  
Stock Exchange ◽  
Listed Companies ◽  
Capital Management ◽  
Working Capital ◽  
Cross Sectional ◽  
Working Capital Management ◽  
And Performance ◽  
The Relationship

The main objective of this study was to investigate the relationship between working capital management, financial constraints and performance of listed companies in Tehran Stock Exchange. To verify this financial information from 148companies listed on the Tehran Stock Exchange during the period 2009- 2013 were studied. Information required extracted from Rah Avard Novin 3 software, and thensummarized, classified, and calculated by Microsoft Excel, and finally through Eviews 8 and Stata 12 software were analyzed. According to the statistical procedures conducted in 95/0 reliability, the assumptions are tested. methods of the study are inductive reasoning and in terms of time are cross-sectional and in terms of relationship between variables is correlation. the results showed that ROA has a negative impact on working capital management. While financial constraints affect the relationship between working capital management and return on assets. better management of working capital can improve companies’ performance. On the other hand, effect of working capital on companies’ performance would be increased when facing financial constraint.

Organizational culture and performance: a macro-level longitudinal study

2019 ◽  
Vol 40 (1) ◽  
pp. 65-84 ◽  
Author(s):  
Taesung Kim ◽  
Jihyun Chang
Keyword(s):  
Organizational Culture ◽  
Organizational Performance ◽  
Empirical Support ◽  
Macro Level ◽  
Cross Sectional ◽  
Content Type ◽  
And Performance ◽  
Market Cultures ◽  
The Relationship ◽  
Over Time

Purpose The purpose of this paper is to take a series of snapshots of perceived organizational culture over time, analyze the longitudinal pattern of its change, examine the relationship between organizational culture and organizational performance and verify if the relationship remains consistent, regardless of the flow of time. Design/methodology/approach Competing values framework and balanced scorecard are employed to look at organizational culture and its link with organizational performance; the panel data with more than 400 Korean firms from three biennial waves (2011, 2013 and 2015) are analyzed for a macro-level longitudinal examination. Findings Findings include that clan and market cultures were more prevalent than adhocracy and hierarchy cultures, and clan culture significantly decreased over time (H1); adhocracy, clan and market cultures had a consistently positive relationship with all the performance variables over the years and demonstrated a stronger impact in that order (H2). Research limitations/implications The results call for continued research on organizational culture in a longitudinal and cross-sectional nature, and a more comprehensive culture framework for today’s organizations. Practical implications Suggestions include that leaders should engage in bilateral communications and network building for successful organization development and change, and take a comprehensive, long-range approach in conducting cultural assessments. Originality/value The current study addresses a lack of empirical support and a single organization, point-of-time perspective in organizational culture research by examining organizational culture and performance with a macro-level longitudinal approach.

The link between high performance work practices and organizational performance

2016 ◽  
Vol 38 (4) ◽  
pp. 578-595 ◽  
Author(s):  
Shatha M. Obeidat ◽  
Rebecca Mitchell ◽  
Mark Bray
Keyword(s):  
Organizational Performance ◽  
High Performance ◽  
Empirical Investigation ◽  
Work Practices ◽  
Cross Sectional ◽  
Content Type ◽  
Manufacturing Sectors ◽  
High Performance Work Practices ◽  
And Performance ◽  
The Relationship

Purpose – The purpose of this paper is to better understand the relationship between high-performance work practices (HPWP) and organizational performance through a multi-dimensional model of the relationship between HPWP and performance, which conceptualizes HPWP according to the ability, motivation and opportunity (AMO) framework. HPWP are conceptualized as HR practices capable of enhancing the AMO of employees to contribute to organizational performance. Design/methodology/approach – Data were collected from 118 Jordanian firms operating in the financial and manufacturing sectors. A questionnaire completed by the HR director in each firm assessed HPWP adoption and their influence on organizational performance. Findings – The findings generate support for the link between HPWP and organizational performance and confirm the utility of the AMO model for conceptualizing HPWP and their impact on organizational performance. Research limitations/implications – While this study relies on cross-sectional data, it confirms the utility of the AMO framework as an appropriate conceptual basis for HPWP and provides substantial support for the relevance of HPWP in increasing organizational performance. Originality/value – The findings provide a basis for more consistent empirical investigation and better theory building for HPWP, and also provide a more robust basis for practical prescription. The empirical contribution is also significant as one of the few studies to investigate the link between HPWP and organizational performance in the Middle East.

Intellectual capital and firm performance

2018 ◽  
Vol 11 (1) ◽  
pp. 139-151 ◽  
Author(s):  
Allam Hamdan
Keyword(s):  
Firm Performance ◽  
Intellectual Capital ◽  
Value Added ◽  
Return On Assets ◽  
Kingdom Of Saudi Arabia ◽  
Content Type ◽  
Two Measures ◽  
And Performance ◽  
Traditional Performance ◽  
The Relationship

Purpose This study sheds light on the relation between intellectual capital and firm performance. The study argues that traditional performance measurement based on accounting is still able to explore the relation between intellectual capital and performance. Design/methodology/approach The study was conducted at 198 firms from two Gulf Cooperation Council countries: Kingdom of Saudi Arabia and Kingdom of Bahrain for the period 2014–2016. To measure intellectual capital, the value added intellectual coefficient model was adopted along with two measures of performance: accounting-based performance which is return on assets and market-based performance which is Tobin’s Q, in addition to the Random-Effects Regression. Findings Study findings came up with evidences that support the relationship between intellectual capital and accounting-based performance, but negates any relation between intellectual capital and market-based performance. The findings also revealed different results, between Saudi Arabia’s and those of Bahrain. Originality/value The study contributes to the debate on the validity of relating intellectual capital to the traditional accounting-based performance.

scholarly journals Trust and performance in business teams: a meta-analysis

2020 ◽  
Vol 26 (5/6) ◽  
pp. 287-300 ◽  
Author(s):  
Amy M. Morrissette ◽  
Jennifer L. Kisamore
Keyword(s):  
Team Performance ◽  
Meta Analysis ◽  
Performance Criteria ◽  
Team Size ◽  
Criterion Measure ◽  
Cross Sectional ◽  
Content Type ◽  
And Performance ◽  
The Relationship ◽  
Team Trust

Purpose The purpose of this study is two-fold. First, the nature of the relationship between team trust and team performance in the business context is determined. Second, both team design (team size and team type) and methodological moderators (source of criterion measure and study date) of the relationship are assessed. Design/methodology/approach A random-effects meta-analysis was performed on published and unpublished empirical studies. Subgroup moderator analyses were conducted using Cochran’s Q. Continuous moderator analyses were conducted using meta-regression. Findings Data from 55 independent studies (3,671 teams) were pooled. Results indicated a large, positive relationship between team trust and team performance in real business teams. Further analyses indicated that the relationship was significantly moderated by business team type, team size and source of criterion measure. Research limitations/implications Results indicate that different team types, sizes and performance criteria should not be treated as equivalent. Results are based on cross-sectional research and can only be generalized to business teams. Practical implications Managers should be attentive to trust issues in work teams, as they may portend future performance problems or mirror other organizational issues that affect team performance. Team function and size predict how team trust is related to team performance. Originality/value The present study answers a call by Costa et al. (2018) for additional investigation of moderators of the trust-performance relationship in teams using a quantitative review of studies.

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