Intellectual Capital and Financial Performance: Comparison With Financial and Pharmaceutical Industries in Vietnam
This study investigates the impacts of intellectual capital through Value-Added Intellectual Capital (VAIC) and its components: human capital efficiency (HCE) and structural capital efficiency (SCE) on financial performance in terms of return on assets (ROA) and return on equity (ROE). In addition,...
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Frontiers Media S.A.
2021-03-01
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doaj-3fc595849fe04387a5f5bd0df2acf4722021-03-25T14:51:09ZengFrontiers Media S.A.Frontiers in Psychology1664-10782021-03-011210.3389/fpsyg.2021.595615595615Intellectual Capital and Financial Performance: Comparison With Financial and Pharmaceutical Industries in VietnamXiao-Bing Zhang0Tran Phuong Duc1Eugene Burgos Mutuc2Fu-Sheng Tsai3Fu-Sheng Tsai4Fu-Sheng Tsai5Fu-Sheng Tsai6Business School, Huaiyin Institute of Technology, Huai'an, ChinaCMC Technology & Solutions, Hanoi, VietnamCollege of Business Administration, Bulacan State University, Malolos, PhilippinesNorth China University of Water Resources and Electric Power, Zhengzhou, ChinaDepartment of Business Administration, Cheng Shiu University, Kaohsiung, TaiwanCenter for Environmental Toxin and Emerging-Contaminant Research, Cheng Shiu University, Kaohsiung, TaiwanSuper Micro Mass Research and Technology Center, Cheng Shiu University, Kaohsiung, TaiwanThis study investigates the impacts of intellectual capital through Value-Added Intellectual Capital (VAIC) and its components: human capital efficiency (HCE) and structural capital efficiency (SCE) on financial performance in terms of return on assets (ROA) and return on equity (ROE). In addition, this study compares the effects between firms from financial and pharmaceutical industries. A total of 149 Vietnamese firms comprising of 108 financial firms and 41 pharmaceutical firms were examined. Based on the findings, VAIC and HCE show beneficial impacts on both financial performance measures, ROA, and ROE. However, SCE shows adverse and beneficial implications on ROA and ROE, respectively. In terms of industry comparison, VAIC has positive effects on ROA and ROE among the firms from financial industry, whereas it has no effect in the firms from pharmaceutical industry. The effect of HCE on ROA is stronger in the firms from financial industry than firms from pharmaceutical industry while the effect of HCE on ROE is stronger in the firms from pharmaceutical industry than firms from financial industry. The effect of SCE on ROA is stronger in the pharmaceutical firms than financial firms while the effect of SCE on ROE is stronger in the financial firms than pharmaceutical firms. Lastly, the implications of the importance of knowledge-based resources on value creation were elaborated.https://www.frontiersin.org/articles/10.3389/fpsyg.2021.595615/fullintellectual capitalfinancial performanceindustry comparisonvietnampharmaceutical industry |
collection |
DOAJ |
language |
English |
format |
Article |
sources |
DOAJ |
author |
Xiao-Bing Zhang Tran Phuong Duc Eugene Burgos Mutuc Fu-Sheng Tsai Fu-Sheng Tsai Fu-Sheng Tsai Fu-Sheng Tsai |
spellingShingle |
Xiao-Bing Zhang Tran Phuong Duc Eugene Burgos Mutuc Fu-Sheng Tsai Fu-Sheng Tsai Fu-Sheng Tsai Fu-Sheng Tsai Intellectual Capital and Financial Performance: Comparison With Financial and Pharmaceutical Industries in Vietnam Frontiers in Psychology intellectual capital financial performance industry comparison vietnam pharmaceutical industry |
author_facet |
Xiao-Bing Zhang Tran Phuong Duc Eugene Burgos Mutuc Fu-Sheng Tsai Fu-Sheng Tsai Fu-Sheng Tsai Fu-Sheng Tsai |
author_sort |
Xiao-Bing Zhang |
title |
Intellectual Capital and Financial Performance: Comparison With Financial and Pharmaceutical Industries in Vietnam |
title_short |
Intellectual Capital and Financial Performance: Comparison With Financial and Pharmaceutical Industries in Vietnam |
title_full |
Intellectual Capital and Financial Performance: Comparison With Financial and Pharmaceutical Industries in Vietnam |
title_fullStr |
Intellectual Capital and Financial Performance: Comparison With Financial and Pharmaceutical Industries in Vietnam |
title_full_unstemmed |
Intellectual Capital and Financial Performance: Comparison With Financial and Pharmaceutical Industries in Vietnam |
title_sort |
intellectual capital and financial performance: comparison with financial and pharmaceutical industries in vietnam |
publisher |
Frontiers Media S.A. |
series |
Frontiers in Psychology |
issn |
1664-1078 |
publishDate |
2021-03-01 |
description |
This study investigates the impacts of intellectual capital through Value-Added Intellectual Capital (VAIC) and its components: human capital efficiency (HCE) and structural capital efficiency (SCE) on financial performance in terms of return on assets (ROA) and return on equity (ROE). In addition, this study compares the effects between firms from financial and pharmaceutical industries. A total of 149 Vietnamese firms comprising of 108 financial firms and 41 pharmaceutical firms were examined. Based on the findings, VAIC and HCE show beneficial impacts on both financial performance measures, ROA, and ROE. However, SCE shows adverse and beneficial implications on ROA and ROE, respectively. In terms of industry comparison, VAIC has positive effects on ROA and ROE among the firms from financial industry, whereas it has no effect in the firms from pharmaceutical industry. The effect of HCE on ROA is stronger in the firms from financial industry than firms from pharmaceutical industry while the effect of HCE on ROE is stronger in the firms from pharmaceutical industry than firms from financial industry. The effect of SCE on ROA is stronger in the pharmaceutical firms than financial firms while the effect of SCE on ROE is stronger in the financial firms than pharmaceutical firms. Lastly, the implications of the importance of knowledge-based resources on value creation were elaborated. |
topic |
intellectual capital financial performance industry comparison vietnam pharmaceutical industry |
url |
https://www.frontiersin.org/articles/10.3389/fpsyg.2021.595615/full |
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