scholarly journals Impact of Intellectual Capital on Firm Value: The Moderating Role of Managerial Ownership

2019 ◽  
Author(s):  
Aftab Ahmed ◽  
Muhammad Kashif Khurshid ◽  
Muhammad Usman Yousaf
Keyword(s):  
Intellectual Capital ◽  
Firm Value ◽  
Market Competition ◽  
Value Added ◽  
Sampling Technique ◽  
Systematic Sampling ◽  
Managerial Ownership ◽  
The Relationship ◽  
Moderating Role

Rapidly changing dynamics of globalization and increasing market competition are causing the companies all around the world confronting several new challenges and opportunities. To be competitive and successful apart from relative importance of physical resources, companies must adapt modern strategies and policies regarding market flexibility and development. The purpose of this study is to empirically investigate the relationship between intellectual capital and firm value. Furthermore, the moderating role of managerial ownership has been evaluated with the help of regression analysis. The sample included the panel data taken from non-financial firms listed on Pakistan stock exchange (PSX) covering the period 2010-2015. A sample of 79 firms out of 384 firms have been selected with the help of systematic sampling technique. VAIC (Value Added Intellectual Coefficient) model has been used for the calculation of intellectual capital. Tobin's Q has been taken as a measure of firm value. Managerial ownership has been tested as moderator. Based on data analysis, it is concluded that the relationship between intellectual capital and firm value is positively significant. It is also concluded that managerial ownership moderates the relationship between intellectual capital and firm value negatively.

scholarly journals Capital Structure-Firm Value Nexus: Moderating Role of Profitability

2020 ◽  
Vol 11 (2) ◽  
pp. 375-386
Author(s):  
Hamed Ahmad Almahadin ◽  
Yazan Salameh Oroud
Keyword(s):  
Capital Structure ◽  
Firm Value ◽  
Panel Data Analysis ◽  
Policy Implications ◽  
Ample Evidence ◽  
Functional Models ◽  
The Impact ◽  
The Relationship ◽  
Moderating Role

This study aims to investigate the moderating role of profitability in the relationship between capital structure and firm value in Jordan, as an example of an emerging economy. For this purpose, two functional models were formulated to capture the direct relationship as well as the interaction impact of capital structure on firm value. The robust empirical findings of panel data analysis provide strong evidence of an adverse relationship between capital structure and firm value. The findings confirm that the impact of capital structure appears to be complicated in nature and difficult to examine without controlling for the interaction of profitability as one of the major determinants. Therefore, studying the interaction effect provides ample evidence and enhances the understanding of the link between firm value and capital structure. The empirical results of the study may provide important insights and policy implications to decision-makers.

scholarly journals The Moderating Role of Intellectual Capital between Relationship of Bank Specific Factors and Credit Risk of Islamic Banks

2019 ◽  
Vol 2 (4) ◽  
pp. 79-87
Author(s):  
Muhammad Nawaz ◽  
Alias Mat Nor ◽  
Habibah Tolos
Keyword(s):  
Credit Risk ◽  
Intellectual Capital ◽  
Management Policy ◽  
Annual Reports ◽  
Future Research ◽  
Islamic Banks ◽  
Relationship Of ◽  
The Relationship ◽  
Moderating Role

Purpose-The Objective of this study is to investigate the moderating role of Intellectual Capital between the relationship of Bank internal factor and Credit Risk in Islamic banks of Pakistan. Design/Methodology-Panel data are obtained from annual reports of 4 Islamic banks of Pakistan from the period 2006 to 2017. These are analyzed using hierarchical regression techniques, via Eviews 9 software. Findings-The results showed that intellectual capital significantly moderates the relationship of bank internal variable and credit risk in Islamic banks in Pakistan. Practical Implications-The study found that Intellectual Capital is a very important driver for credit risk. The investment in Intellectual Capital may lower the credit risk which will further help in the growth and sustainability of the bank and hence the growth in the economy. The results of the study will be useful for bank management, policy maker, and regulator and academia for future research.

scholarly journals Impact of Intellectual Capital Efficiency on Profitability (A Case Study of LSE25 Companies)

2008 ◽  
Vol 13 (2) ◽  
pp. 81-98 ◽  
Author(s):  
Muhammad Abdul Majid Makki ◽  
Suleman Aziz Lodhi
Keyword(s):  
Intellectual Capital ◽  
Regression Models ◽  
Value Added ◽  
Net Profit ◽  
The World ◽  
Capital Efficiency ◽  
Successful Business ◽  
The Relationship

The aim of this study is to examine the relationship between intellectual capital efficiency and the firm's profitability. The importance of intellectual capital (IC) and the related philosophy of the knowledge economy have captured the attention of researchers and business enterprises in the World Trade Organization (WTO) era. IC is widely recognized as a tool that is critical to running a successful business in a highly competitive environment. Various models have been introduced to measure the numerous facets of IC, including the Skandia navigator, Tobin's Q, and value added intellectual coefficient (VAIC). This article examines the role of IC efficiency in the firm’s net profit using the VAIC developed by Ante Pulic (1998). It also investigates its correlation with the firm’s profitability, using regression models.

scholarly journals PENGARUH PERENCANAAN PAJAK, STRUKTUR MODAL DAN KEPEMILIKAN MANAJERIAL TERHADAP NILAI PERUSAHAAN DENGAN TRANSPARANSI PERUSAHAAN SEBAGAI VARIABEL MODERASI

2022 ◽  
Vol 6 (1) ◽  
pp. 1-12
Author(s):  
Deaelma Sari ◽  
Wiwit Irawati
Keyword(s):  
Data Analysis ◽  
Capital Structure ◽  
Firm Value ◽  
Stock Exchange ◽  
Sampling Technique ◽  
Tax Planning ◽  
Managerial Ownership ◽  
Manufacturing Companies ◽  
Corporate Transparency ◽  
The Relationship

This study aims to identify and prove empirically the effect of Tax Planning, Capital Structure and Managerial Ownership on Firm Value with Corporate Transparency as a moderating variable. This type of research is quantitative approach research with explanatory research and associative methods. Samples were taken using the purposive sampling technique using Eviews 9 software for data analysis. The sample consists of 60 data from 12 property and real estate subsector manufacturing companies listed on the Indonesia Stock Exchange in 2016-2020. The results show that Tax Planning, Capital Structure and Managerial Ownership simultaneously affect the value of the company which is moderated by corporate transparency, tax planning has no effect on firm value, the capital structure does not affect firm value, managerial ownership does not affect firm value, and corporate transparency does not. effect on firm value, corporate transparency is unable to moderate the relationship between tax planning and firm value, corporate transparency is unable to moderate the relationship between capital structure and firm value, and corporate transparency is unable to moderate the relationship between managerial ownership and firm value.  

scholarly journals The Effect of Intellectual Capital and Good Corporate Governance on Company Value Mediated by Competitive Advantage

2021 ◽  
Vol 22 (2) ◽  
Author(s):  
Selvia Roos Ana ◽  
Agung Budi Sulistiyo ◽  
Whedy Prasetyo
Keyword(s):  
Corporate Governance ◽  
Competitive Advantage ◽  
Intellectual Capital ◽  
Firm Value ◽  
Capital Good ◽  
Company Value ◽  
Good Corporate Governance ◽  
The Relationship ◽  
A Company

Abstract:  This study examines the effect of the relationship between intellectual capital, good corporate governance, and firm value by using competitive advantage as mediation. Design/methodology/approach :  This study uses a sample of companies registered in CGPI during the 2014-2018 period. Data analysis using regression and path analysis.Research findings :  The research results show that the creation of a competitive advantage is inseparable from the role of intellectual capital and good corporate governance. In addition, competitive advantage is able to increase firm value but unfortunately it is not able to mediate company value.Theoretical contribution/ Originality :  This study uses M-VAIC to measure intellectual capital where in this measurement there is additional relational capital, and the use of competitive advantage as a mediating variable.Practitioner/Policy implication : This study proves the resourced-based theory which states that a company can win the competition by having a competitive advantage so that in the end it can increase firm value.Research limitation/Implication:  This study only includes CGPI listed companies as the research sample. In addition, the independent variables used are limited to intellectual capital and good corporate governance. Keywords:  intellectual capital, good corporate governance, competitive advantage, company value

scholarly journals Capital structure, corporate performance, and life cycle: Evidence from Indonesia

2017 ◽  
Vol 14 (4) ◽  
pp. 449-461
Author(s):  
Eko Suyono ◽  
Subba Reddy Yarram ◽  
Riswan Riswan
Keyword(s):  
Regression Analysis ◽  
Life Cycle ◽  
Interest Rate ◽  
Capital Structure ◽  
Institutional Ownership ◽  
Managerial Ownership ◽  
Company Performance ◽  
The Relationship ◽  
Moderating Role

This study aims to investigate firstly, the influences of company life cycle (i.e., pioneer, growth, mature, and decline) and set of control variables (i.e, tax level, interest rate, institutional ownership, and managerial ownership) on capital structure; secondly, the influence of capital structure on company performance; and thirdly, the moderating role of each stage of the company life cycle on the relationship between capital structure and company performance. Implementing quantitative approach by using OLS Regression Analysis and Moderated Regression Analysis (MRA) on a set of the sample that consists of 157 Indonesian non-financial listed firms for 2010-2015 periods (942 firm years), findings show that company life cycle has a significant influence on capital structure. While for control variables, tax level and institutional ownership have a positive influence on the capital structure, wherein interest rate and managerial ownership have a negative effect on capital structure. Moreover, capital structure ratio influences positively on company performance. Finding also documents that pioneer and growth stages have a moderating role in strengthening the influence of capital structure on company performance, while mature and decline stages have a moderating role in weakening the influence of capital structure on company performance. This study provides important implications for corporations and business practitioners with regard to the best choice in the composition of capital structure which is able to improve company performance. On the best of our knowledge, it is the first study testing the moderating role of company life cycle on the relationship between capital structure and company performance.

scholarly journals Ownership Structure and Financial Sustainability with Moderating Effect of Managerial Intention in Some Selected Emerging Economies. A Conceptual Review

2021 ◽  
Vol 4 (1) ◽  
pp. p78
Author(s):  
Maimako Livinus Nkuri ◽  
Ahmed Razman Abdul Latiff ◽  
Wan Fadzila Wan Yusoff
Keyword(s):  
Literature Review ◽  
Conceptual Model ◽  
Ownership Structure ◽  
Financial Sustainability ◽  
Managerial Ownership ◽  
Different Dimensions ◽  
And Performance ◽  
The Relationship ◽  
Moderating Role

Purpose The purpose of this study is to explore a model to measure the money deposit bank financial sustainability based on ownership structure and to examine the moderating role of managerial intention on managerial ownership and foreign ownership. Design/ Methodology/ Approach An elaborate literature review was conducted to identify the variables and a proposed conceptual model was conceived. Findings A conceptual model was presented after the discussion of relationship and literature review that examined ownership structure, managerial intention and financial sustainability. Originality/Value Many scholars have investigated the different dimensions of ownership structure, managerial intention and performance, however little research has been done on the integration of ownership structure and financial sustainability. Furthermore, there is also a dearth in literature that examine the moderating role of managerial intention on the relationship between ownership structure and financial sustainability.

scholarly journals PERAN KEPEMILIKAN MANAJERIAL SEBAGAI MEKANISME PENINGKATAN KUALITAS LABA DAN NILAI PERUSAHAAN

2018 ◽  
Vol 15 (2) ◽  
pp. 144-161
Author(s):  
Fenny Putrianti ◽  
Sugi Suhartono
Keyword(s):  
Firm Value ◽  
Sampling Method ◽  
Stock Exchange ◽  
Negative Relationship ◽  
Managerial Ownership ◽  
Manufacturing Companies ◽  
Purposive Sampling ◽  
The Relationship

This research is aimed to determine the role of managerial ownership as a mechanism to improve the quality of earnings and value companies in manufacturing companies listed in the Indonesia Stock Exchange period 2014-2016. The sample in this study is a manufacturing company listed on the Indonesia Stock Exchange (BEI) in the period 2014-2016. The sample were selected by purposive sampling method, with the number of sample is 312 companies. The results showed that managerial ownership negatively affects firm value and managerial ownership does not affect the quality of profit but has a negative relationship. In addition, the results also show that the quality of earnings does not affect the value of the company but has a negative relationship. In addition, the quality of earnings does not affect the value of the company. Based on the analysis, the quality of earnings as intervening variable is not able to mediate the relationship between managerial ownership and firm value.

Sign in / Sign up

Export Citation Format

Share Document