Article Sidebar

Tải bài báo PDF (Tiếng Việt) Tải phụ lục PDF (Tiếng Việt)
Published: 2023-04-25
Abstract Views: 613
Views Tải bài báo PDF (Tiếng Việt): 457
Views Tải phụ lục PDF (Tiếng Việt): 0
DOI: https://doi.org/10.52932/jfm.vi2.331
Issue
Vol.14, Issue 2
Section
Research Articles
How to Cite
Hạnh, L. T. M. ., Hoàng, N., Hà, N. T. L., & Quỳnh, P. T. G. . (2023). Intellectual capital efficiency of listed companies on the Vietnam stock market: Reality and research implication. Journal of Finance and Marketing, 14(2), 36-47. https://doi.org/10.52932/jfm.vi2.331

Intellectual capital efficiency of listed companies on the Vietnam stock market: Reality and research implication

Le Thi My Hanh 1, Hoang Minh Ngoc1, Ngo Tan Lam Ha1, Pham Tran Giang Quynh 1
1 Ton Duc Thang University

Main Article Content

Abstract

The purpose of the study is to provide an overview of the intellectual capital investment of companies listed on the Vietnamese stock market and consider contributions of intellectual capital components. The study is based on data from 200 companies with the largest market capitalization as of December 31, 2021, with a total of 1,298 observations in the period 2015-2021. The research results show that human capital contributes the most to intellectual capital, followed by structural capital and capital employed. Thereby, providing more empirical evidence on the contribution of intellectual capital to companies listed on the Vietnamese stock market. In addition, correlative analyses of company characteristics with intellectual capital performance help identify the company’s significance related to intellectual capital performance. Last but not least, the results also provide managers and stakeholders with the reality of the role of intellectual capital in the company’s operations as well as emphasize that human capital is an important factor affecting the company’s ability to remain competitive in the new global market.

Article Details

Author Biography

Le Thi My Hanh , Ton Duc Thang University

Hanh Thi My Le or Le Thi My Hanh (Vietnamese name) is An Accounting lecturer at the Faculty of Accounting, Ton Duc Thang University, Ho Chi Minh city, Vietnam. She has spent almost over fifteen years in teaching Accounting courses. Along with teaching, she has published many outstanding research papers. Her research interest mainly focuses on the quality of financial reports in emerging countries. Recently, her research has been further extended to other areas including corporate governance, earning management, accounting and managerial behavior, and accounting information system. Besides, she also commits time and effort to serve as the Dean of Faculty of Accounting at Ton Duc Thang Univeristy.

Keywords

Capital employed, Human capital, Intellectual capital, Structural capital

References

Bayraktaroglu, A. E., Calisir, F., & Baskak, M. (2019). Intellectual capital and firm performance: an extended VAIC model. Journal of Intellectual Capital, 20(3), 406-425.
Bontis, N., Chua Chong Keow, W., & Richardson, S. (2000). Intellectual capital and business performance in Malaysian industries. Journal of Intellectual Capital, 1(1), 85-100.
Chen, M.C., Bontis, N., Cheng, S.J. and Hwang, Y. (2005). An empirical investigation of the relationship between intellectual capital and firms’ market value and financial performance. Journal of Intellectual Capital, 6(2), 159-176.
Clarke, M., Seng, D., & Whiting, R. H. (2011). Intellectual capital and firm performance in Australia. Journal of Intellectual Capital, 12(4), 505-530.
Coff, R. W. (2002). Human capital, shared expertise, and the likelihood of impasse in corporate acquisitions. Journal of Management, 28(1), 107-128.
Edvinsson, L., & Malone, M. S. (1997). Intellectual capital: The proven way to establish your company's real value by finding its hidden brainpower. Piatkus.
Gates, S., & Langevin, P. (2010). Human capital measures, strategy and performance: HR managers' perceptions. Accounting Auditing and Accountability Journal, 23(1), 111-132.
Hamilton, K. (2006). Where is the wealth of nations? Measuring capital for the 21st century. Washington, D.C.: World Bank Publications.
Kweh, Q. L., Ting, I. W. K., Lu, W. M., & Le, H. T. M. (2022). Nonlinearity in the relationship between intellectual capital and corporate performance: Evidence from Vietnamese listed companies. Journal of Intellectual Capital, 23(6), 1246-1275. DOI:10.1108/JIC-03-2020-0105
Kweh, Q. L., Ting, I. W. K., Hanh, L. T. M., & Zhang, C. (2019). Intellectual capital, governmental presence, and firm performance of publicly listed companies in Malaysia. International Journal of Learning and Intellectual Capital, 16(2), 193-211. https://doi.org/10.1504/IJLIC.2019.098932.
Meles, A., Porzio, C., Sampagnaro, G., & Verdoliva, V. (2016). The impact of the intellectual capital efficiency on commercial banks performance: Evidence from the US. Journal of Multinational Financial Management, 36, 64-74.
Mondal, A., & Ghosh, S. K. (2012). Intellectual capital and financial performance of Indian banks. Journal of Intellectual Capital, 13(4), 515-530.
Ngân hàng thế giới (2016). Việt Nam 2035 - Hướng tới Thịnh vượng, Sáng tạo, Công bằng và Dân chủ. Báo cáo tổng quan. https://www.worldbank.org/vi/news/infographic/2016/02/23/vietnam-2035-toward-prosperity-creativity-equity-and-democracy
Ozkan, N., Cakan, S., & Kayacan, M. (2017 ). Intellectual capital and financial performance: A study of the Turkish Banking Sector. Borsa Istanbul Review, 17(3), 190-198.
Phạm Quốc Việt và Trịnh Thị Ngọc Trân (2020). Tác động của vốn trí tuệ đến hiệu quả tài chính của ngân hàng thương mại Việt Nam. Tạp chí Tài chính, 736(1), 60-64. https://epaper.tapchitaichinh.vn/2020/2020TCTCK1T9/mobile/index.html
Phong, N. M. (2021). Hội thảo đánh giá kinh tế Việt Nam năm 2020, triển vọng năm 2021. https://nhandan.vn/hoi-thao-danh-gia-kinh-te-viet-nam-nam-2020-trien-vong-nam-2021-post640414.html
Pulic, A. (2000). VAIC™–an accounting tool for IC management. International journal of technology management, 20(5-8), 702-714.
Pulic, A. (2004). Intellectual capital – does it create or destroy value? Measuring Business Excellence, 8(1), 62-68. https://doi.org/10.1108/13683040410524757.
Tan, H. P., Plowman, D., & Hancock, P. (2007). Intellectual capital and financial returns of companies. Journal of Intellectual capital, 8(1), 76-95.
Ting, I. W. K., Chen, F. C., Kweh, Q. L., Sui, H. J., & Le, H. T. M. (2021). Intellectual capital and bank branches' efficiency: an integrated study. Journal of Intellectual Capital, 23(4), 840-863. DOI: 10.1108/JIC-07-2020-0245
Ting, I. W. K., & Lean, H. H. (2009). Intellectual capital performance of financial institutions in Malaysia. Journal of Intellectual Capital, 10(4), 588-599.
Tuyen, T. N. (2018). Bức tranh kinh tế Việt Nam năm 2018 và triển vọng năm 2019. http://hdll.vn/vi/nghien-cuu---trao-doi/buc-tranh-kinh-te-viet-nam-nam-2018-va-trien-vong-nam-2019.html.
Wang, J. F. J., & Tarn, D. D. (2018). Are two heads better than one? Intellectual capital, learning and knowledge sharing in a dyadic interdisciplinary relationship. Journal of Knowledge Management, 22(6), 1379-1407.
Xu, J., Shang, Y., Yu, W., & Liu, F. (2019). Intellectual capital, technological innovation and firm performance: Evidence from China’s manufacturing sector. Sustainability, 11(19), 5328. DOI:10.3390/su11195328.