Search results

1 – 2 of 2
Per page
102050
Citations:
Loading...
Access Restricted. View access options
Article
Publication date: 11 April 2016

Silvio Bianchi Martini, Antonio Corvino, Federica Doni and Alessandra Rigolini

The purpose of this paper is to analyse the content of relational capital disclosure (RCD) information communicated by a sample of European listed companies. It also investigates…

2002

Abstract

Purpose

The purpose of this paper is to analyse the content of relational capital disclosure (RCD) information communicated by a sample of European listed companies. It also investigates the links between RCD and certain corporate financial performance indicators.

Design/methodology/approach

This research did a cross-country analysis on a sample of 80 companies and a content analysis based on 51 items inherent to the relational capital (RC) framework of mandatory and voluntary reports. An RCD index has been used in certain bivariate and multivariate statistical analyses to investigate whether RCD is positively correlated to particular indicators adopted as proxies for measuring company performance.

Findings

The results show that RCD supports statistically significant relationships with revenues, net operating cash flow and capital expenditures. In contrast, there is no statistically significant association with enterprise value.

Research limitations/implications

This study evaluates the information disclosed in annual reports or other standalone reports, although companies might communicate such information using other information channels. The main caveat of this study is sample size; therefore, it could be insightful to extend this cross-country study.

Practical implications

The research could encourage preparers to improve the disclosure of specific items of RC and could offer useful suggestions to policymakers, for instance, to the European Commission, as it has recently announced new requirements for non-financial information reporting (Directive 2014/95/UE).

Originality/value

Given the crucial role of RC in company success and RCD’s importance for the decision-making process, this study provides interesting insights into the debate on RC reporting’s impacts on company performance.

Details

Journal of Intellectual Capital, vol. 17 no. 2
Type: Research Article
ISSN: 1469-1930

Keywords

Access Restricted. View access options
Article
Publication date: 30 April 2024

Giovanni Schiuma, Nicola Raimo, Stefano Bresciani, Alessandra Ricciardelli and Filippo Vitolla

Social media are emerging as the ideal channel for building one-to-many communication and disseminating intellectual capital (IC) information. Their rise is bringing out new…

193

Abstract

Purpose

Social media are emerging as the ideal channel for building one-to-many communication and disseminating intellectual capital (IC) information. Their rise is bringing out new research challenges to investigate the implications of their use. However, there needs to be more research contributions relating to the financial benefits of using social media for IC disclosure (ICD). This study aims to bridge this gap by analyzing, under the lens of signaling theory, the effect of ICD through Twitter on firm value.

Design/methodology/approach

This study is based on a content analysis of tweets disseminated by 262 companies aimed at examining the amount of IC information disclosed and on a regression analysis aimed at analyzing the impact of this type of information on firm value.

Findings

Empirical results show that a large ICD via Twitter favors an increase in firm value. They also demonstrate that disclosing information relating to the three IC dimensions positively affects the firm value. These findings suggest that actively and comprehensively communicating IC information via Twitter can help improve the perception and evaluation of the company by investors and other stakeholders.

Research limitations/implications

This study offers empirical evidence about the financial benefits associated with using social media as disclosure tools by companies. It also enriches the literature on the relationship between ICD and firm value and consolidates the goodness of the signaling theory as an ideal theoretical perspective to frame the relationship between IC information and firm value.

Practical implications

This study offers important managerial implications for firms and investors. In light of the significant financial benefits, firms should use social media to disclose IC information and should seek to increase their visibility on such platforms to convey the information to a greater number of users. Investors should also heed social media when gathering IC information, combining the analysis of these platforms with that of traditional corporate documents.

Originality/value

This study enriches the limited literature on ICD via social media and extends knowledge about the relationship between IC information and firm value. In this regard, the originality also lies in the individual analysis of the impact of the three IC dimensions on firm value.

Details

Journal of Intellectual Capital, vol. 25 no. 2/3
Type: Research Article
ISSN: 1469-1930

Keywords

1 – 2 of 2
Per page
102050