INTELLECTUAL VALUE-ADDED COEFFICIENT (VAIC) IN HEALTHCARE MANAGEMENT

Abstract

Purpose- Businesses are obliged to measure and manage Intellectual capital (IC) because of its importance. The literature focuses on the definition of intellectual capital, its measurement, reporting in accounting, examining its effect on performance, and ultimately the management of intellectual capital in terms of businesses. The purpose of this study is to evaluate the effect of the Intellectual Value Added Coefficient (VAIC) of a university hospital, which has important resources in terms of high-level knowledge and skill use. Methodology- Resource-based view theory is a leading paradigm in the field of strategic management. The main focus of this theory is to achieve sustainability by providing profit and efficiency by using strategic resources effectively. The theoretical structure of our study is based on the source-based view theory. In this direction, the financial data for the three years were evaluated by using the visible and invisible sources, the Intellectual Value Added Coefficient (VAIC) model. Findings- The revolving fund and the added budget (general budget) capital accounts of the university hospital, which are semi-autonomous public enterprises, were handled separately, and the data set that would form the intellectual capital values was determined from the sum of the two. The analysis reveals that capital employed (CEE) employed by years has a greater impact on intellectual capital than other components. Human capital has a greater impact on university hospital efficiency (ATO) than other intellectual capital components. The first two years of human capital (HCE) have a greater impact on university hospital profitability (ROA) than any other component of intellectual capital. Conclusion- Based on the findings of the analysis, it will make a unique contribution as it will focus on a new approach in the management and cost analysis applications where intellectual capital is effective in the efficiency evaluations of university hospitals. The VAIC Model should be adopted and implemented by university administrators. Keywords: Public administration, Intellectual Value Added Coefficient (VAIC), efficiency, university hospital, sustainability. JEL Codes: H83, D24, M21