Samuel Kai Wah Chu, Kin Hang Chan and Wendy W.Y. Wu
This paper aims to investigate whether intellectual capital (IC) has an impact on the financial aspects of organizational performance as well as attempting to identify the IC…
Abstract
Purpose
This paper aims to investigate whether intellectual capital (IC) has an impact on the financial aspects of organizational performance as well as attempting to identify the IC components that are associated with corporate financial performance indicators that signal organizational growth.
Design/methodology/approach
This study drew on financial data from publicly available annual reports of all the constituent companies of the Hang Seng Index of the Hong Kong Stock Exchange for the years 2001‐2009. Following the value added intellectual coefficient™ (VAIC) methodology, regression models were constructed to examine the relationships between IC and the corporate financial performance indicators.
Findings
Evidence was found to suggest that IC, as measured by VAIC, was positively associated with profitability of businesses. In particular, structural capital, as a key component of IC, played a notable part in enhancing corporate profitability, and showed a growing trend in its significance. Empirical findings, based on correlation and linear multiple regression analysis, indicated that the components of VAIC were strong predictors of corporate financial performance such as return on equity and profitability. In particular, capital employed efficiency (CEE) was a significant predictor of all four corporate financial performance indicators.
Practical implications
The results may extend the understanding of the role of IC in business operations in Hong Kong, and may help to identify the specific IC drivers that may have a direct impact on the financial performance of these companies. In particular, although CEE was a significant predictor of all four corporate finance performance indicators, the increasing contribution of structural capital efficiency (SCE) in predicting ROA and ROE was observed. The role that structural capital plays in strengthening business performance warrants further investigation.
Originality/value
There has only been one previous empirical study on the intellectual capital of constituent companies on the Hong Kong Hang Seng Index. This study adds to the literature as the second study in the field. It is the first comparative study across two time periods of the above‐mentioned data.
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The purpose of this paper, which is written in two parts, is to investigate empirically if intellectual capital (IC) has an impact on the financial aspects of organisational…
Abstract
Purpose
The purpose of this paper, which is written in two parts, is to investigate empirically if intellectual capital (IC) has an impact on the financial aspects of organisational performance as well as attempting to identify the IC components that may be the drivers for the leading financial indicators of listed companies. The study sought evidence from the companies of the Hong Kong Stock Exchange.
Design/methodology/approach
Using data of all the constituent companies of the Hang Seng Index of the Hong Kong Stock Exchange from 2001 to 2005 and the VAIC™ methodology used in the measurement of IC by Pulic, regression models were constructed to examine the relationships between IC and the selected financial performance measures of these companies. The research hypotheses and research method are detailed in Part 1 of the paper. In this paper – Part 2, the results and findings of the investigation are analysed and discussed.
Findings
The results of the analysis revealed no conclusive evidence to support a definitive association between IC, as measured by VAIC™, and the four measures of financial performance in the sample companies surveyed in Hong Kong. At best, only a moderate association was recorded between IC and the profitability measures. The study further revealed that physical capital is highly regarded by the companies surveyed for enhancing market valuation, productivity and profitability.
Research limitations/implications
Evidence from Hong Kong shows that there is an overall lack of association between IC and financial performance, which contradicts some prior studies conducted overseas. This may suggest that Hong Kong may be lagging behind, for example, some Asian competitors such as Taiwan and Singapore in IC development. In addition, the empirical results suggest that physical capital continues to play a prominent role in the territory, which may be an indication of Hong Kong's ongoing reliance on “tangibles” as the strategic asset to generate corporate performance. These findings may, however, illustrate that the association between IC and financial indicators such as market valuation may not be a universal and uniform one. Rather, the association may vary from market to market, probably depending on the level of IC awareness in the investors.
Originality/value
It is believed that this is the first study conducted in Hong Kong involving the use of VAIC™ for the measurement of IC. It not only contributes to the knowledge of IC research, but adds to the existing literature of the progress of IC development in relation to financial performance in companies internationally.
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Keywords
The purpose of this paper, which is written in two parts, is to investigate empirically if intellectual capital (IC) has an impact on the financial aspects of organisational…
Abstract
Purpose
The purpose of this paper, which is written in two parts, is to investigate empirically if intellectual capital (IC) has an impact on the financial aspects of organisational performance as well as attempting to identify the IC components that may be the drivers for the leading financial indicators of listed companies. The study sought evidence from the companies of the Hong Kong Stock Exchange.
Design/methodology/approach
Using data of all the constituent companies of the Hang Seng Index of the Hong Kong Stock Exchange from 2001 to 2005 and the VAIC™ methodology used in the measurement of IC by Pulic, regression models were constructed to examine the relationships between IC and the selected financial performance measures of these companies. Part 1 of the paper first explores a working definition of IC as well as appraising some of the methods in IC measurement. After advocating the use of VAIC™ and reviewing the relevant prior studies, research hypotheses are developed for this study. Part 1 of the paper concludes with a discussion of the research method and regression models used in investigating the hypotheses.
Findings
The results of the analysis is presented in Part 2 of the paper, which examines the association between IC, as measured by VAIC™, and the four measures of financial performance in the sample companies surveyed in Hong Kong. Part 1 of the paper develops the hypotheses for the study and establishes the research method used to investigate these hypotheses.
Originality/value
It is believed that this is the first study conducted in Hong Kong involving the use of VAIC™ for the measurement of IC. It not only contributes to the knowledge of IC research, but adds to the existing literature of the progress of IC development in relation to financial performance in companies internationally.
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Kam C. Chan, Hung‐Gay Fung and Wai K. Leung
We examine the citations from four international business (IB) journals over 2000‐2004 to show the areas, the journals, and the institutions that impact IB research. The leading…
Abstract
We examine the citations from four international business (IB) journals over 2000‐2004 to show the areas, the journals, and the institutions that impact IB research. The leading works that influence IB research are primarily management journals, scholarly books, and IB journals. IB research is published in non‐IB journals, as well and this has influenced the recent research in IB journals. U.S. and non‐U.S. academic institutions and non‐academic organizations are among the top 100 institutions that impact IB research, indicating that this research is a truly global endeavor. Finally, recent IB research is influenced more by recent published research than by past research. Scholarly books have become less influential, while the economics, finance, and marketing journals show no change in the influence on IB research over time.
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The purpose of this paper is to assess the intra-party conflicts in Hong Kong’s Democratic Party (DP) and their implications for broader democratic processes in the territory. It…
Abstract
Purpose
The purpose of this paper is to assess the intra-party conflicts in Hong Kong’s Democratic Party (DP) and their implications for broader democratic processes in the territory. It also examines some other thematic issues including: the party’s policy decision-making process, candidate selection, party membership and mergers, and their overall relevance for democratisation in Hong Kong.
Design/methodology/approach
The study gives a historical review of intra-party conflicts. The concept of factionalism is applied to better understand the DP in Hong Kong’s political space.
Findings
Hong Kong is unique and popular models of party conflicts are hardly applicable to the country. Intra-party conflict is an obvious, expected conflict because of differences in formation, leadership, manifestoes and ideologies. The present author tries to examine the case with a view to making a novel contribution.
Originality/value
The study of political factionalism is not uncommon in Hong Kong but this paper intends to study intra-party elite conflicts and self-democratisation of the Hong Kong DP as a case study which is seldom addressed. Consolidation is a possible scenario and its presence is evident when political elites increasingly demonstrate commitment towards creating a democratic regime and when they hold strong beliefs in democratic procedures and institutions as crucial to governing public life.
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Yiu Chung Wong and Jason K.H. Chan
The purpose of this paper is to explore the emergence of civil disobedience (CD) movements in Hong Kong in the context of the notion of civil society (CS).
Abstract
Purpose
The purpose of this paper is to explore the emergence of civil disobedience (CD) movements in Hong Kong in the context of the notion of civil society (CS).
Design/methodology/approach
The paper begins by rigorously defining the notion of CD, as well as the concept of CS and tracing its development in Hong Kong over the past several decades. By using a model of CS typology, which combines the variables of state control and a society’s quest for autonomy (SQA), the paper aims to outline the historical development of CD movements in Hong Kong. It also discusses the recent evolution of CS and its relationship with CD movements, particularly focusing on their development since Leung Chun-ying became the Chief Executive in 2012. Finally, by using five cases of CD witnessed in the past several decades, the relationship between the development of CS and the emergence of CD in Hong Kong has been outlined.
Findings
Four implications can be concluded: first, CD cannot emerge when the state and society are isolated. Second, the level of SC and the scale of CD are positively related. Third, as an historical trend, the development of SQA is generally in linear progress; SQA starts from a low level (e.g. interest-based and welfare-based aims) and moves upwards to campaign for higher goals of civil and political autonomy. If the lower level of SQA is not satisfied, it can lead to larger scale CD in future. Fourth, the CD movement would be largest in scale when the state-society relationship confrontational and when major cleavages can be found within CS itself.
Originality/value
This paper serves to enrich knowledge in the fields of politics and sociology.
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Three types of industrial buyer-seller relational process models are available: joining theory, stage theory, and state theory. However, historically, these models have developed…
Abstract
Three types of industrial buyer-seller relational process models are available: joining theory, stage theory, and state theory. However, historically, these models have developed based on the knowledge and cultural context of the Western world. Several researchers note that national culture may have an impact on international industrial buyer-seller relationships. Including culture in the models is highly important, especially as the business environment is increasingly more global and different countries have different business cultures. The goal of this paper is to define the most suitable industrial buyer-seller relational process models for describing relationships in various contexts. The paper includes a through literature review and a single case study in order to reach this objective. A new state theory model evolved during the research. It consists of two beginning states: searching and starting; four purely middles states: constant/static, decline, growth, and troubled; and a purely end state: termination. The state of dormant/inert is both a middle state and an end state, that is, when the relational actors are not in contact does not mean that the relationship has ended, but instead, for example, new legislation may have been implemented, which requires the actors to evaluate their relationship and its future. A relationship goes through the two beginning states in the order mentioned above, but after that, any state may occur.
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Monica Law, Kin-Hon Ho and Xiling Cui
This study aims to analyze online responses to gain insights into public attitudes and concerns regarding traditional Chinese medicine (TCM) among Hong Kong residents. By…
Abstract
Purpose
This study aims to analyze online responses to gain insights into public attitudes and concerns regarding traditional Chinese medicine (TCM) among Hong Kong residents. By addressing gaps in understanding public sentiment, this study contributes to the development of effective health-care policies.
Design/methodology/approach
Responses were collected from Baby-Kingdom.com using Python, gathering 17,568 TCM-related comments from 2016 to 2023. Analysis involved an eight-theme codebook and sentiment and semantic network analyses with DiVoMiner.
Findings
Most responses expressed positive sentiments and attitudes toward TCM. The analysis revealed recurring topics related to conditioning and specific diseases, including gynecological problems. Clinic service quality, fair pricing and convenient locations were also highlighted.
Research limitations/implications
This study examines the networked public sphere and the Theory of Planned Behavior regarding TCM, emphasizing online forums’ impact on attitudes and highlighting gaps in service access, using big data and an interdisciplinary approach.
Practical implications
The findings of this study from Baby-Kingdom.com emphasize the need to improve the accessibility of TCM-related discussions. An official platform for professionals is proposed, with government support for reliable information and partnerships with local universities to expand services.
Originality/value
This study provides valuable insights into the popularity of TCM in Hong Kong, which may encourage uptake and use of TCM services in the health-care sector in not only Hong Kong but also the Greater Bay Area, China and potentially other countries in the future.
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The purpose of this paper is to assess critically the political challenges facing Hong Kong’s “one country, two systems” policy following the Umbrella Movement and to evaluate the…
Abstract
Purpose
The purpose of this paper is to assess critically the political challenges facing Hong Kong’s “one country, two systems” policy following the Umbrella Movement and to evaluate the territory’s democratic and autonomous future.
Design/methodology/approach
A critical, contextual, and analytical approach has been adopted to evaluate the problems and prospects for post-Umbrella Movement Hong Kong.
Findings
The contradictions embedded in the “one country, two systems” policy have become apparent since the Umbrella Movement arose and Hong Kong’s political and democratic future is as problematic as its prospects are uncertain, though the possibility of some rapprochement between Hong Kong and Beijing should not be ruled out completely.
Research limitations/implications
The critical evaluation offered by this paper is no scientific prediction. Social scientific analysis of this kind is suggestive rather than definitive. The informed discussion offered by this paper will help readers to better understand the strengths and weaknesses inherent in Beijing’s “one country, two systems” policy and the tortuous process of democratization in Hong Kong. The conclusion drawn in the paper points to a possible way out of the political impasse that is facing post-Umbrella Movement Hong Kong.
Originality/value
This paper is a pioneering study of the most important political conflict between Beijing and Hong Kong since 1997, the conclusion of which may have important political and policy implications for both China and Hong Kong.
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Peggy M.L. Ng, Po Kin Chow, Phoebe Wong and Wai Ming Bernard Luk
A new normal regarding teaching and learning has been established after COVID-19. The present study aims to examine the effectiveness of digital technology training on developing…
Abstract
Purpose
A new normal regarding teaching and learning has been established after COVID-19. The present study aims to examine the effectiveness of digital technology training on developing academics’ digital competence in higher education context. A conceptual model was developed using stimulus–organism–response (SOR) theory. Additionally, this study investigates the mediating effect of transfer of learning and the moderating effect of innovative climate in the relation between trainer capability and academics’ digital competence.
Design/methodology/approach
In total, 24 digital technology training sessions were organized. Data were collected from the 24 digital technology training sessions with 384 participants and analyzed using SPSS PROCESS macro.
Findings
The results indicated that digital technology training content and trainer capability were positively associated with academics’ digital competence. Mediation analysis indicated that transfer of learning mediated the relation between trainer capability and digital competence. Moderated mediated analysis revealed that the relationship between trainer capability and transfer of learning is stronger under a higher innovative climate.
Originality/value
This study contributes to the literature by applying the SOR theory in the context of digital technology training, providing a novel theoretical perspective on how digital training influences academics’ digital competencies. The study offers empirical evidence on the underlying process regarding the effect of digital technology training on academics’ digital competence. The findings revealed that transfer of learning as well as innovative climate play important intervening roles in enhancing academics’ digital competence. Higher education institutions can implement policies to promote the transfer of learning and innovative climate, allowing academics to learn innovative digital technology.