Intellectual capital pengertian, teori, structural, pengukuran. Tangible capital therefore refers to the physical and. Intellectual capital the commitment and competence of workers is embedded in how each employee thinks about and does work and in how an organization creates policies and systems to get work done. Evidence from publicly listed companies from the ftse 100, paper presented at mcmasters intellectual capital conference, january 2001, hamilton, ontario, canada. Muhammad and ismail 2009 examined the relationship between intellectual capital and business performance in the malaysian financial sector, they concluded that intellectual capital has a positive relationship with firm performance measured by roa and profitability. Review of empirical studies of intellectual capital from 1998 to 2014 the empirical researches on intellectual capital start from 1998. Journal of intellectual capital capital intelectual. Baldanza 2001 have developed a conceptual framework for km with four pillars organization, technology, leadership, and learning. Is intellectual capital performance and disclosure practices. It is based on the assumption that intellectual capital does not produce any value. Intellectual property is the value of a company or organizations employee knowledge, skills, business training or any proprietary information that may provide the company. At first consider the financial statements of the accounting paradigm has the. Journal of intellectual capital intellectual capital and traditional measures of corporate performance article information. Academic papers explore different methods of intellectual capital measurement.
This study intends to investigate empirically the relation between the value creation efficiency and firms market valuation and financial performance, by using data drawn from 21 banks enlisted in the milan stock exchange, italy. Intellectual capital and traditional measures of corporate. Sep 01, 2001 breaks with the prior literature on intellectual capital disclosure practices in two major ways. A contribution from a hrperspective abstract this study, as far as known, provides the first integrative attempt to explore the role of intellectual capital ic in the relationship between human resource management hrm and. Intellectual capital contribution to the financial. Although organizations have avoided the area of intellectual capital for many years15, scholars have come to emphasize the apparent importance of measuring and managing intellectual capital 16. The relevance of intellectual capital disclosure citeseerx. Excessive bail shall not be required, nor excessive fines imposed, nor cruel and unusual punishments inflicted in weems v. More specifically, by using pulics 1998, 2000, 2001, 2002 value added intellectual coefficient vaic as the efficiency measure of capital employed and. The city of houston, texas successfully underwent a similar evolution in the 1980s.
Research conducted by firer and williams 2003 a study in south africa to. The effect of intellectual capital on organizational. Impact of intellectual capital on financial performance. Pdf purpose the purpose of this paper is to develop a conceptual framework that can be used to formalise a reporting model for intellectual capital. The inquiry into whose income accountants are striving to measure has been largely ignored suojanen, 1954. We present a model that incorporates this overall argument in the form of a series of hypothesized relation ships between different dimensions of social capital and the main mechanisms and processes necessary for the creation of intellectual capital. Intellectual capital is defined as all knowledge within an organisation which has the potential to create value when applied in line with the mission, vision and goals of the organisation. Coefficient provided a historical background of the origins of the concpet of intellectual capital and identified different models. Pdf journal of intellectual capital intellectual capital and. According to stewart, intellectual capital is consisted of three interconnected parts, namely, human capital, structural capital and customer capital. Data are drawn from a sample of 75 publicly traded firms from. The skandia intellectual capital kmm is developed by leif edvinsson 1997 which is extensively referred to in ic measurement and research. Intellectual capital is the intangible value of a business, covering its people human capital, the value relating to its relationships relational capital, and everything that is left when the employees go home structural capital, of which intellectual property ip is but one component.
Human capital means the knowledge and skill level of corporate personnel. An intellectual is a person who engages in critical thinking and reading, research, writing, and human selfreflection about society. According to the above sentences, today, human capital has gained importance more than any other tangible resources for the organization. Ahmed bounfour, 2003,the icdval approach, journal of intellectual capital, vol. Intellectual capital is intellectual materials knowledge, information, intellectual property, experience that can be put to use to create wealth stewart, t. Many everyday roles require the application of intelligence to skills that may have a psychomotor componentfor example, in the fields of medicine or the artsbut these do not necessarily involve the practitioner in the world of ideas. The importance of developing intellectual capital for. Pdf the impact of intellectual capital on firms market value and. National intellectual capital as an economic driver 200408 final. Brooking 1996 defined intellectual capital as the combination of intangible assets which enable the company to function. The most well known asset types are tangible in nature. First, provides a longitudinal examination of intellectual capital disclosure practices in the annual reports of 31 ftse 100 listed companies from 1996.
Is intellectual capital performance and disclosure practice related. According to luthy 1998 and williams 2001, four groups of methods are defined. Only owing to its implementation, productivity of material and financial resources grows. This is the first book to show how to turn the untapped, unmapped knowledge of an organization into its greatest competitive weapon. The aim of this paper is to assess the impact of intellectual capital ic on firms. Origin and evolution investments on productivity and profitability, journal of learning and intellectual capital, 33, 233248.
There is an effect of intellectual capital to firm performances for non manufacture companies figure 1 if the company that owns higher of intellectual capital vaic, they will tend to have the future performance better, then logically, the average growth of the intellectual capital rate of growth of intellectual. An empirical investigation of the relationship between intellectual. Request pdf is intellectual capital performance and disclosure practice. Firer and williams 2003 investigated the association between efficiency of value added by major components of a firms resource base. The economic theory foundation of hrd supports the discussion of both individual and corporate models of investments in human capital, and the intellectual capital architecture model. Palgrave macmillan studies in banking and financial institutions. In the nursing intellectual capital theory, human capital investment is redefined as employer support for nurse continuing professional development. The impact of knowledge management models for the development. The city of houston, texas successfully underwent a. Review of super bowl impact studies the economic impact estimates for the super bowl extend from one intellectual end zone. Keywords disclosure, capital markets, financial analysts, intellectual capital. We also propose a scheme for identifying brand value drivers, that is, the parameters influencing the brands value. However, relational capital is highly intangible in nature, which is the reason why companies spend enormous amounts of marketing money to encapsulate this form of intellectual capital into a brand. In this paper, it has been attempted to explain the concept of human capital, its importance, and the characteristics of human capital and mention the measuring indices of human capital.
Pdf journal of intellectual capital intellectual capital. The icdval approach ahmed bounfour article information. Additionally, the relationship between social capital and intellectual capital is explored, as is the impact of this relationship upon a firms perceived organizational advantage. The principal purpose of this study is to investigate the association between the efficiency of value added va by the major components of a firms resource base physical capital, human capital and structural capital and three traditional dimensions of corporate performance. Therefore it is possible to develop a tentative new balance sheet as shown in figure 2. The idea that competitive advantage is gained through the application of intellectual. If an organization has a personnel inventory whose knowledge and skills are vital in the longrun, the first part of the. Journal of intellectual capital some seminal work attempts to bridge the gap between. It is posited that reporting on intellectual capital may attempt to resolve uncertainty about the firm, thereby improving the stock price edvinsson and malone, 1997.
Considering the perceived growing importance of intellectual capital in business organizations, this study attempted to. Another way of measurement of intellectual capital belonging to synthetic methods is knowledge capital earnings kce. There is an effect of intellectual capital to firm performances for non manufacture companies figure 1 if the company that owns higher of intellectual capital vaic, they will tend to have the future performance better, then logically, the average growth of the intellectual capital rate of. A natural outcome of these various differences is that each of these aspects of intellectual capital. Factors influencing intellectual capital measurement.
Social capital, intellectual capital, and the organizational. Intellectual capital human capital structural capital customer capital. Lepak and snell, 1999 and utility theory stigler, 1950a, 1950b. Coefficient provided a historical background of the origins of the concpet of intellectual capital and identified different models and methodologies that had evolved. Here, the intellectual capital is a debt item which is regarded in the same way as equity. The results indicate that the economic impact of the super bowl is likely on average onequarter or less the magnitude of the most recent nfl estimates. It offers powerful new ways of looking at what companies do and how to lead them. Intellectual capital is a groundbreaking book, visionary in scope and immediately practical in application. The importance of developing intellectual capital for innovative organizations. Pdf purpose intellectual capital ic shows a significant growing.
Breaks with the prior literature on intellectual capital disclosure practices in two major ways. Content and determinants of intellectual capital disclosure. Intellectual property is the value of a company or organizations employee knowledge, skills, business training or any proprietary. This is the most valuable form of intellectual capital because customers pay the bills, which directly contribute to revenues.
A natural outcome of these various differences is that. First, intellectual capital is a firms only appreciable asset. Manfaat dari intellectual capital sebagai alat untuk menentukan nilai perusahaan telah menarik perhatian sejumlah akademisi dan praktisi tan et al. Within the literature, there is no precise agreement on what ic concept might be starovic and marr, 2003. An overview of the intellectual capital ic intellectual capital is relatively new topic not only within the accounting and finance discipline but also within the business and management arena. Once these components are identified, they can be directly evaluated, either individually or as an aggregated coefficient. A conceptual framework of intellectual capital springerlink.
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