Mariia A. Molodchik, Carlos Maria Jardon and Anna Andreevna Bykova
The purpose of this paper is to present a comparative analysis of the contribution made by intellectual capital (IC) to company performance at company and industry levels in the…
Abstract
Purpose
The purpose of this paper is to present a comparative analysis of the contribution made by intellectual capital (IC) to company performance at company and industry levels in the Russian context. It examines the performance effect of IC using a multilevel approach.
Design/methodology/approach
The study combines the resource- and industry-based view. It decomposes performance determinants into two levels of analysis in such a way that it is assumed that IC at industry and company levels has a significant simultaneous impact on company performance. The empirical part of the study uses a database of 1,096 Russian public companies, covering the period of 2004–2014 and divided into 19 industries. The econometric methodology uses hierarchical linear models to estimate the effect of IC in the different levels of analysis.
Findings
The study confirms that the strength of the performance effect of IC is contingent on the industry. Furthermore, the study reveals that industry-level endowment with regard to intangibles contributes more to company performance in comparison with a company-level endowment, in the context of the transitional economy.
Originality/value
The study proposes a novel methodological approach to the performance effect of IC in the Russian context, studying the differences between industry and company effect. The study provides insights to better understand the importance of the politics of IC at the different levels (industry and company) and presents a new empirical enquiry into strategic behaviour regarding IC in Russia.
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Anna Bykova and Felix Lopez-Iturriaga
The purpose of this paper is to examine the relationship between export activity and firm performance for a positive impact of foreign direct investments (FDIs). The authors also…
Abstract
Purpose
The purpose of this paper is to examine the relationship between export activity and firm performance for a positive impact of foreign direct investments (FDIs). The authors also analyze two possible causes of the effect: technology transfer and financial support. The theoretical background is rooted in the resource-based approach taking into account multinational companies’ perspective and the specifics of emerging markets.
Design/methodology/approach
The authors propose testable hypotheses based on a review of the theory. To test the hypotheses, the authors build a sample of over 500 Russian public manufacturing firms covering the period from 2004 to 2014 and estimate regression models. Given concerns about endogeneity, the instrumental variable approach for panel data, using the GMM-estimator, is implemented.
Findings
Consistent with the view that FDIs generate spillover effects, the results support the positive impact of foreign ownership on the link between exports and firms’ performance. The results underline the importance of foreign ownership: shareholders from developed countries can provide benefits to exporting companies through transferring advanced technologies and loosening financial constraints by lowering interest and raising availability of bank loans.
Originality/value
The authors provide new insights on the relationship between exports and firm performance. Given our focus on Russia, a market with high potential to draw foreign investments, the research sheds some light on how emerging country firms can benefit from having foreign shareholders with paying attention to geographical distribution of such investments. Specifically, through the overcoming of technological barriers and loosening of financial constraints, the authors show empirically that foreign capital can make up for weak local institutional infrastructure and enhance the company’s returns from internationalization.
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Mariya Molodchik, Elena Shakina and Anna Bykova
The purpose of this paper is to present a framework that is developed for analysis of intellectual capital transformation into companies’ value, including an identification of the…
Abstract
Purpose
The purpose of this paper is to present a framework that is developed for analysis of intellectual capital transformation into companies’ value, including an identification of the key factors of this process.
Design/methodology/approach
The paper employs intellectual capital on the intersection of value‐based management (VBM) and the resource‐based view (RBV). Starting from a review of the results provided in the literature regarding intellectual capital (IC) evaluation and its link with firm performance, a system of proxy indicators related to IC transformation in both concepts has been designed. The evaluation ability of the developed model was justified using regression analyses.
Findings
A detailed algorithm for intellectual capital evaluation in terms of input‐outcome transformation. The intellectual capital transformation evaluating model (ICTEM) provides a holistic view of intellectual resources as companies’ strategic investments.
Research limitations/implications
The paper emphasizes that the ICTEM framework could be mostly applied for the analysis of a firm as a typical representative of the industry or the country. In that sense it is not applicable for specific feature analysis of a company.
Practical implications
The paper highlights the ICTEM as a tool of investment decisions, mostly taking into account common trends, the prospects of industries, and economies’ development.
Originality/value
The ICTEM provides the ostensive framework of intellectual capital transformation analysis using a statistical approach.
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Iuliia Naidenova and Petr Parshakov
Investments in intellectual capital (IC) are often linked to competitive advantages that improve economic profit and increase the value of a company. However, this effect is…
Abstract
Purpose
Investments in intellectual capital (IC) are often linked to competitive advantages that improve economic profit and increase the value of a company. However, this effect is reciprocal: companies that generate higher cash flow can invest more in IC. The purpose of this paper is to analyze a dynamic relationship between IC components and economic profit, with a special emphasis on industry specific effects in pharmaceutical, retail, steel, telecommunications, and service sectors.
Design/methodology/approach
Panel vector autoregression was used to deal with the mutual influence of IC components, the lag effect, and heterogeneity. The data were taken from Compustat database and covers the period from 2001 to 2010.
Findings
The paper proves that there is interaction between investments in the IC components and company performance. However, there are sectoral differences: there is a positive impact of economic profit on human capital in retail; in the steel industry a mutual influence is revealed. Moreover, interaction between different IC components is detected in telecommunication and steel industries.
Originality/value
This is the first study to present clear evidence of the effects of performance on IC investment decisions. The time lag in the effects of IC investments was estimated and compared for different industries. On the methodological side, the paper presents a rather simple method capable of yielding results consistent with other studies and yet rich enough to be applied to an analysis of sectoral differences in dynamic IC investment decisions.
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The purpose of this paper is to analyze business model (BM) and intellectual capital (IC) of a firm with a focus on their common elements. The common bases in the field of…
Abstract
Purpose
The purpose of this paper is to analyze business model (BM) and intellectual capital (IC) of a firm with a focus on their common elements. The common bases in the field of strategic management for these two concepts are, among others, resource-based view, knowledge-based view, intellectual capital-based view, dynamic capabilities, and configurational approach. It indicates areas in which these two concepts can benefit from each other, e.g. in classification of components, their configuration, or dynamic approach. This general review examines the following research questions: What are the common concepts for the BM and IC? What are their common components? What does the dynamic approach to IC and BM mean?
Design/methodology/approach
The Web of Science™ Core Collection database was selected for the period 1975-2014 and the Journal of Intellectual Capital (JIC) indexed in Scopus® (Elsevier) was incorporated into the analysis for the period it had been indexed by Scopus (1990-2015). These databases were selected because they offer a reliable overview of historical data regarding journals, articles, and citation impact. The key filter criteria were the presence of the phrases “business model” or “intellectual capital” in the article title, abstract, and key words in order to narrow down the selection to the most appropriate results for the research area.
Findings
This paper investigates two concepts from the point of view of their underpinnings in management, definitions, and components, as well as value creation. Analysis of the foundations in management allows the author to present a cohesive model, which depicts a comprehensive approach to analysis of these two concepts. Many common elements have been identified and investigated.
Originality/value
First, it provides an indication of the common underpinnings of the analyzed concepts within the framework of strategic management and proposals for their development toward resource, knowledge, and IC accumulation, combination and heterogeneity-based views. Second, it presents an analysis of the BM and IC components, showing common elements between them. Third, it provides a description and analysis of dynamic view of BM and IC components in a value creation context.
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Maribel Serna Rodríguez, Ana María Ortega Alvarez and Leonel Arango-Vasquez
This study aims to identify the current state, the emergent research clusters, the key research topics and the configuration of collaboration in scientific production related to…
Abstract
Purpose
This study aims to identify the current state, the emergent research clusters, the key research topics and the configuration of collaboration in scientific production related to the market value of soccer players.
Design/methodology/approach
This article analyzes 52 articles published between 1985 and 2021 and from the Scopus and WoS databases.
Findings
The subject is of growing interest both in academic and practical areas. A variable that frequently appears as a determinant of market value is crowd wisdom. The largest cluster related to the co-citation level shows that the main issues about soccer player market value are player performance, team performance, and the determinants of the superstar formation. Spain and Germany stand out as essential countries both in literary production and citation rate. The network of collaborations is still low.
Research limitations/implications
This study is supported by databases being constantly updated, resulting in continuous variation in the number of indexed journals. Consequently, a bibliometric analysis regarding an emergent topic can, in fewer years, be subject to essential variations. Another limitation is that it has analyzed a particular topic using the most influential databases, and the global perspective could be improved with the incorporation of other different databases. Data regarding collaborations could be helpful for investigations or policies that propose to approach the topic supported by specialized groups. This study offers the possibility for future researchers to extend the databases used, the level of analysis, or focus on specific topics or variables affecting the soccer player market value.
Originality/value
This study contributes to knowing the current state of the soccer player market value research. Studies on such topics are relatively limited concerning the literature review.