Carlos Maria F‐Jardón and Maria Susana Martos
There are different models to measure the effect of intellectual capital on firm performance. These models depend on different dimensions of intellectual capital, the…
Abstract
Purpose
There are different models to measure the effect of intellectual capital on firm performance. These models depend on different dimensions of intellectual capital, the interrelations between them and the effects on performance. It is important to analyze several specificities in small and medium sized enterprises (SME) in developing countries. This paper aims to test diverse models to verify the previously mentioned relations applied to wood manufacturer SMEs of Oberá (Argentina).
Design/methodology/approach
A global model including the variables used in the previous literature is used. The paper establishes hypotheses for testing this model and us PLS technique to estimate the parameters of the model in a sample of 113 wood manufacturer SMEs in Oberá (Argentina).
Findings
The only dimension of intellectual capital directly affecting performance is structural capital. The other dimensions exert an indirect effect through structural capital.
Research limitations/implications
The model does not use all the possible variables to characterize intellectual capital. The causality elements cannot be verified in a temporary horizon because the data are cross‐sectional. In addition, when making reference to data of a particular period of time, there may be causes that imply relations of accidental type. Moreover, the measures used were subjective. This paper only studies the SMEs of the Argentine wood industry.
Practical implications
The paper offers several suggestions to implement strategies for local SMEs and to support aid to projects for developing countries.
Originality/value
The paper tests different models to analyze the impact of dimensions of intellectual capital on performance in SMEs of developing countries and provides information on the wood manufacturer SMEs in Argentina.
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Carlos M. Jardon and Maria Susana Martos
Emerging clusters, formed by small to medium‐sized enterprises (SMEs) of slow growth and embryonic management systems present a different competitive advantage scheme. The purpose…
Abstract
Purpose
Emerging clusters, formed by small to medium‐sized enterprises (SMEs) of slow growth and embryonic management systems present a different competitive advantage scheme. The purpose of this paper is to analyze relationships among components of intellectual capital within a model of competitive advantages in emerging clusters in a region of Latin America.
Design/methodology/approach
An intellectual capital model in a competitive advantage scheme is defined. A sequential method based in PLS technique is suggested to select the model and estimate the parameters. A sample of 113 wood manufacturing SMEs in a region of Argentina was selected.
Findings
The competitive advantage scheme in emerging clusters of SMEs proposes that resources affect organizational capabilities; territory and organizational capabilities affect strategic factors which improve performance. In this scheme, human capital affects structural capital and structural capital generates relational capital. SMEs organize tangible resources and relational capital to build organizational capabilities.
Research limitations/implications
The sample is a cross‐section. The performance is subjectively measured by the satisfaction of the entrepreneurs with different items.
Practical implications
The paper establishes suggestions to strategies of the SMEs in emerging clusters and politics of developing countries. This paper enables practitioners and scholars to comprehend and make legitimate decisions and conclusions that can foster business growth.
Originality/value
The authors tested the impact of dimensions of intellectual capital on performance in emerging clusters of developing countries within a competitive advantage scheme, showing relationships among intellectual capital dimensions and competitive advantages. The analysis differentiates between intellectual capital dimension and organizational capabilities.
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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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Susana Martinez-Meyers, Idoya Ferrero-Ferrero and María Jesús Muñoz-Torres
The aim of this paper is to evaluate the impact of the sustainable financial disclosure regulation (SFDR) on the environmental, social and governance (ESG) performance and risk…
Abstract
Purpose
The aim of this paper is to evaluate the impact of the sustainable financial disclosure regulation (SFDR) on the environmental, social and governance (ESG) performance and risk scores of sustainable funds (SFs) from a multi-regional perspective.
Design/methodology/approach
This research involves conducting a comparative study between self-labeled SFs and conventional funds of the same mutual fund company matched using a five-step process. Using the SFDR publication as a natural study, this study uses panel data methodology on a portfolio ESG score database before SFDR implementation and three to six months post-SFDR Level 1 requirement to measure the impact.
Findings
The findings provide evidence of a clear reduction in ESG risk and an improvement in ESG performance across all samples and ESG dimensions following the SFDR regulation. In addition, the results reveal a positive spillover effect of the regulation on conventional funds following its implementation.
Research limitations/implications
The study can be helpful for fund managers, investors and regulators as it provides insights into the impact of mandatory ESG disclosure regulation on the global fund investment market. The study is limited by data availability due to the restrictive matching approach used, which starts with fund pairs from the same fund management company.
Practical implications
The study can be helpful for fund managers, investors and regulators as it provides insights into the impact of mandatory ESG disclosure regulation on the global fund investment market.
Originality/value
To the best of the authors’ knowledge, there is a lack of research papers that analyze the impact of the SFDR mandatory regulation as a driving force on the ESG scores of the fund market using the same fund management matched pair approach. This paper tests the importance of the investment area through a multi-regional approach to study potential “spillover” effects.
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Giovanna Mariani, Ada Carlesi and Alfredo Antonino Scarfò
The purpose of this paper is to discuss academic spinoffs (ASO) as an expression of the value creation of university technology transfer (TT) investments. More recently, scholars…
Abstract
Purpose
The purpose of this paper is to discuss academic spinoffs (ASO) as an expression of the value creation of university technology transfer (TT) investments. More recently, scholars have emphasised intellectual capital’s (IC) importance, also for universities in obtaining competitive advantages and by creating value. Such spinoffs are key to regional development, as a primary aspect of universities’ IC.
Design/methodology/approach
The authors tested the aim through a sample of the University of Pisa’s spinoffs. The authors measured the value the university’s third mission investment generates on the area by means of entrepreneurship through two different approaches. First, the authors defined a multiplier of the TT investment (university TT multiplier) and then explored the IC components’ contributions to the ASOs’ enterprise value (EV).
Findings
The results show that the University of Pisa’s TT investments positively impact the local community through the spinoff system, both in economic terms and in IC. In the long term, these investments can enrich scientific humus and entrepreneurial mindsets.
Research limitations/implications
This is an exploratory study of the University of Pisa’s impacts on the local economy. The results are limited to the context of Pisa and to the TT policy. Another limitation is the subjectivity of the EV estimation.
Practical implications
The results can have some practical implications. The large portfolio of university stakeholders (policymakers, families, students, companies, financiers, etc.) ask for information, especially on long-term results: in a simple way, the multiplier is able to communicate important feedbacks to support their decision-making process.
Social implications
With the multiplier, the authors give a tool to measure the social enrichment.
Originality/value
In the study, the authors propose a new tool to measure the impact of the investment in TT on the local community.