≣ MENU

Search For:  
Czech |  English

Journal of Competitiveness

The impact of intellectual capital on firm performance: A study of Vietnamese firms listed on Vietnam Stock Exchange

Phan Dinh Nguyen

Keywords:
Intellectual capital, firm performance, SGMM, Vietnam

Abstract:
Firms have considered intellectual capital (IC) as a key factor improving their competitiveness and performance. They can optimize their performance by maximizing resource utilization through examining the IC and physical capital. Therefore, in order to improve their competitiveness, this paper examines the impact of IC and its components on Vietnamese listed firm performance with a comparison among industry types over the period 2008-2021. The value added intellectual coefficient (VAIC) model is employed to measure IC. The system generalized method of moments (SGMM) and structural equation model (SEM) are used to identify the factors affecting firm performance. Our findings are that IC and its components play an important role in firm performance. VAIC, human capital efficiency (HCE), and capital employed efficiency (CEE) contribute to firm performance. Structural capital efficiency (SCE) positively influences firm performance for all combined firms and manufacturing companies, while it has a negative effect on firm performance in the service sector. The financial crisis played an important role, but the COVID-19 pandemic eroded firm performance. The financial crisis had a moderating effect on IC. This research expands the understanding of IC by analyzing the impact of IC and its components on firm performance with consideration of global crises and industry comparison.

Fulltext download:

The impact of intellectual capital on firm performance: A study of Vietnamese firms listed on Vietnam Stock Exchange [PDF file] [Filesize: 360.48 KB]

10.7441/joc.2024.01.02


Nguyen, P.D. (2024). The impact of intellectual capital on firm performance: A study of Vietnamese firms listed on Vietnam Stock Exchange. Journal of Competitiveness, 16(1), 26-45. https://doi.org/10.7441/joc.2024.01.02

Journal of Competitiveness

  

Copyright © 2009-2023 Tomas Bata University in Zlin.
Search powered by Google™

ISSN 1804-171X (Print); eISSN 1804-1728 (On-line)


Creative Commons License
The journal offers access to the contents in the open access system on the principles license Creative Commons (CC BY 4.0).