Intellectual Capital Research Research Articles

Intellectual capital research opportunities on the sustainable growth of the MSME Industry in Indonesia

The purpose of this paper is to briefly review the literature on intellectual capital and sustainability growth in manufacturing companies, service companies or other industries and propose research opportunities related to the role of intellectual capital in influencing sustainable growth in the Micro, Small and Medium Enterprises (MSME) industry. Two steps are involved in developing a research proposition. First, identify the characteristics of the contingent faced by each type of business. Second, match the characteristics of the contingent for each type of company with the appropriate intellectual capital based on the results of previous research. The contingent characteristics of the type of MSME business can be identified as innovation, management knowledge, competence, competitive advantage, and technological ability to be able to demonstrate sustainable growth of a business. These variables can be used and combined to improve managerial performance as the basis for sustainable growth of a business. From the various problems experienced by MSMEs, it is deemed necessary to raise the issue of the influence of intellectual capital on sustainability growth with a combination of these variables.

Empowering Bumiputra SMEs Through Intellectual Capital: Lessons from a Developing Nation

Small and medium-sized enterprises (SMEs) play a vital role in the economic development of countries by contributing to the expansion of the export sector's GDP, generating a significant number of employment opportunities, and promoting the development of social infrastructure. Despite their crucial role, SMEs in Malaysia have not received sufficient attention in terms of intellectual capital research. This study aims to address this gap in the current literature by examining the intellectual capital of Bumiputra SMEs in a developing country. The primary objective of this study is to assess the impact of intellectual capital components on the performance of Bumiputra SMEs. The data gathering process will involve qualitative techniques, specifically NVivo-facilitated interview sessions. The insights derived from these sessions will provide SME firm owners with a comprehensive understanding of how intellectual capital influences company performance, empowering them to make informed decisions. This study relies on two firm owners as the main sources of information during the interview sessions. The findings reveal that various elements of intellectual capital, such as human capital, structural capital, customer capital, social capital, technological capital, and spiritual capital, significantly influence the commercial performance of Bumiputra SME entrepreneurs. The study's conclusions have a notable and positive impact on the theoretical and practical aspects of Bumiputra SME businesses by expanding the understanding of how intellectual capital serves as a strategic asset for SMEs and by incorporating resource-based, knowledge-based, and social capital frameworks. The decision of employing only a small number of participants was determined by limitations on time, money, and accessibility. Nevertheless, only a small number of representations can yield significant results, particularly in qualitative studies where data accuracy and breadth are crucial.

The Evolution of Intellectual Capital Research – a Bibliometric Analysis of Highly-cited Papers

This study presents and evaluates the development of research on intellectual capital (IC) using bibliometric analysis of highly cited research papers. It also uses social network analysis (SNA) to decipher the complex patterns of collaboration, influence, and knowledge diffusion in the field of IC research. Data for the SNA were extracted from the top 1% of highly cited papers identified through bibliometric analysis. The extracted data were processed using BibExcel, which allowed for the extraction of important metadata, statistical calculations, and an in-depth examination of the selected documents. Pajek, a network analysis tool, was used to visualize and understand the complex network of these influential articles. Our analysis shows the evolution of intellectual capital from a niche interest in the mid-20th century to a dynamically growing field of study. The number of publications increased from double digits in the early 1990s to over a hundred publications per year in the early 2000s. From the mid-2000s to the present, the field experienced almost exponential growth, peaking in 2022 with 796 publications. Analysis of the 103 most cited papers in intellectual capital identified a total of 212 authors. Remarkably, 92% of these authors contributed to only one publication each. The co-authorship analysis unveils a decentralized structure characterized by several smaller research clusters embedded within the broader network. The results of this study enhance our comprehension of intellectual capital research by identifying influential authors, highly cited journals, and co-publication networks, thereby providing valuable insights into the field's dynamics.

Revitalizing Higher Education Institutions: Embracing Frugal Innovation for Transformation

This conceptual paper aims to investigate the interrelationship between intellectual capital (IC) and frugal innovation (FI) in higher education institutions (HEI), considering the mediating role of information technology (IT) capabilities. With many private HEI facing financial challenges, it is crucial to explore how IC can be effectively managed to achieve frugal innovation. By drawing on the knowledge-based view (KBV), this study examines key factors that influence intellectual capital and its impact on frugal innovation in HEI. The findings emphasize the importance of leveraging intangible assets in HEI to enhance their capabilities and address the dynamic business environment. Specifically, the study highlights the need to identify the extent to which HEI can exploit IT capabilities to develop intellectual capital aligned with the criteria of frugal innovation for value creation. This research contributes to the development of evolving approaches in IC knowledge for effective IC management and highlights the benefits for HEI, including a focus on core functions, stronger integration with industry and local/international communities, and enhanced operational efficiency. By shedding light on the formalization, capture, and leveraging of intangible assets, rather than solely focusing on tangible assets, HEI can achieve frugal innovation. Overall, this paper provides a novel perspective by bridging the gap between frugal innovation and IC research in the context of HEI. It highlights the mediating role of IT capabilities in the relationship between IC and frugal innovation, adding valuable insights to the existing literature and contributing to the ongoing scholarly discourse in this field.

New Connections Between Integrated Reporting and Intellectual Capital: Future Research Implications in the Context of Sustainability-Related Information

Purpose: The objective of this study was to identify new links between Integrated Reporting (IR) and Intellectual Capital (IC) fields, useful for sustainability and climate change disclosures with ISSB standards. Theoretical Framework: The literature that has integrated IC and IR fields has been developed, mainly from the IC research perspective, addressing a wide range of thematic specializations that emerge when analyzing the research areas. Design/Methodology/Approach: We developed a Structured Literature Review (SLR) of articles indexed in Scopus, which allowed us to build a specific analytical framework from emerging categories; we rely on AtlasTi and VOSviewer software. Findings: We found that the literature converges towards the following research areas: Reviews and reflections on the IR framework as a means for IC disclosure; Proposals to improve the IR framework and IR disclosures through IR; The IR framework and definition, measurement, and management of IC within organizations; disclosures of CI in contexts of practical adoption of RI; Disclosure of IC through IR, its determinants, and effects. Research, Practical & Social Implications: We identified the need to advance research under a performative approach, research on stakeholder satisfaction by revealing IC through IR and the relationship of IC with information related to sustainability in the new ISSB context. The paper identifies previously unexamined connections between IC and IR and proposes future avenues of research. Originality/Value: This study raises the need for increased policy research to define a common language for presenting comparable IC information in ISSB sustainability reports. In addition, studies are needed to help identify IC information, other IR capital and metrics, which could represent material information for investors to assess sustainability-related risks and opportunities.

The magnitude of intellectual capital research: A comprehensive bibliometric analysis

AbstractThe purpose of this article is to map and explore in detail the development of intellectual capital (IC) literature with the help of bibliometric analysis. The research combines the IC literature from Scopus and Web of Science databases from 1985 to 2022, resulting in 2044 documents. Bibliographic coupling, co‐citation networks, content analysis and other techniques available under the Biblioshiny package were used to explore the database. The findings have demonstrated the four transition phases in IC research during 1997, 2004, 2011 and 2021. The results have revealed that the ‘Journal of Intellectual Capital’ and the ‘International Journal of Learning and Intellectual Capital’ are the core journals of the IC research. Further, it has been observed that Bontis, Dumay, Guthrie, Subramaniam and Youndt are some of the prolific contributors and pioneers of IC research. The conceptual structure unveiled that IC has been linked with its components, corporate governance, organisation performance and disclosures in the research undertaken so far. Reflecting upon the identified themes using the thematic evolution map, the research attempts to find future impediments. The bibliographic coupling of documents resulted in three clusters: disclosure, components and financial performance and VAIC. The co‐citation networks explored using content analysis resulted in four clusters: recognition and awareness of IC, measurement and development of IC, disclosure and reporting of IC and IC and corporate performance. Overall, the research is a comprehensive analysis of IC development over 38 years reflecting upon the present scenario and evolution of IC throwing light upon the niche themes requiring further exploration.

The impact of intellectual capital efficiency on value creation in video game industry—An evidence from Taiwan

In light of the metaverse’s vast expansion, it’s a crucial intellectual platform that’s transforming the video game industry and spurring creative innovation and technological advancement. Considering the distinctive niche that Taiwan occupies within the realm of the video game industry, this study uses a total of 11 video game companies in Taiwan as samples. The study spans a period of 16 years, from 2007 to 2022, and utilizes the random effect regression model for analysis. The study results illustrate that intellectual capital efficiency exerts varying contributions to the creation of value across different corporate value indicators within the video game industry. Among the factors, HCE, SCE, and CEE demonstrate the highest explanatory power for ROE, reaching up to 82.23%. Following this, they account for 73.57% of the variance in market share, but only a meager 13.67% for Tobin’s Q. This study is the empirical evidence that different methods of measuring intellectual capital and various definitions of value creation in an industry may lead to divergent results and managerial implications in intellectual capital research. Hence, it is worthwhile for subsequent studies to continue clarifying and delving deeper into these aspects.

Reflecting on intellectual capital measurement and management in European universities

Purpose This paper aims to critically review intellectual capital (IC) accounting research and practices in European public universities, specifically in Spain, Austria and Italy. These three countries represent the majority of IC accounting research related to universities. Design/methodology/approach This study critically reviews a selection of university-based IC accounting research, applying Alvesson and Deetz’s (2000) critical perspectives of insight, critique and transformative redefinition. Findings The analysis reveals that European public universities follow the Humboldtian model of higher education, integrating a third mission to society into their traditional roles as teaching and research institutions. This study explored how the emergence of a third mission for the university was conceptualised. This study also provided insights, critique and a transformative redefinition to advance IC as a strategic resource in European public universities. Originality/value The findings provide academics and policymakers with insights, critique and a transformative redefinition of IC as a strategic resource for European public universities to meet future challenges in an ever-changing world.

BIBLIOMETRIC ANALYSIS TOWARD TO INTELLECTUAL CAPITAL ON SMALL MEDIUM ENTERPRISES (SMES)

This study determines the development trend of Intellectual Capital research in SMEs published by leading journals indexed by Scopus by identifying key authors, keywords, journals that publish in IC and MSMEs and countries that write a lot of research related to it.The data analyzed consisted of 266 research publications from 1998-2020 using the VoS viewer application to discover the intellectual Capital research development bibliometric map.The findings suggest that there are two major theories related to intellectual capital in technology-based SMEs, namely resource-based view and knowledge base view, which support and complement each other

МОДЕЛИ ФОРМИРОВАНИЯ И ВОСПРОИЗВОДСТВА ИНТЕЛЛЕКТУАЛЬНОГО КАПИТАЛА

The article considers the key theoretical and methodological concepts and applied approaches to the conceptual essence of intellectual capital, the conditions of its formation and reproduction. It is noted that at present the concepts of formation and reproduction of intellectual capital are actively being formed, which is due to the trends of innovative development and the factors of the knowledge economy formation. In scientific practice, a single universal approach to the nature of such a phenomenon, its structure and forms of its functioning has not yet been developed. The author highlights that despite the variety of structural designs and approaches to the definition of the concept of “intellectual capital” and the variability of models of its formation and reproduction, there are common trends, factors and processes in forming and using the intellectual capital. It allowed to detail and clarify the features and content of those processes, to reveal their algorithms and essential characteristics. The main models of intellectual capital are considered, as well as the conceptual model of intellectual capital research, which includes goal-oriented and market approaches, is substantiated.

Building capabilities for software development firm competitiveness: The role of intellectual capital and intra-firm relational capital

Software is critical to nearly every organization's performance and can create value for all organizational functions. Given that software development firms that create solutions for client organizations are by necessity constantly seeking competitive advantage, the central objective of this research was to investigate the impact of capability building on software development firm competitiveness. Developing software is a knowledge-intensive and often complex process that requires internal exchanges among knowledgeable and capable employees within the firm. Accordingly, for software development firms, capability building is critical for competitive advantage. This research draws from capability, intellectual capital, and relational capital research streams and develops an intra-firm relational capital to intellectual capital model of capability building for software development. Analyses of data from key informants of 200 software development firms provide strong support for our model. We discuss the implications of our research for the competitiveness of software development firms for capability, intellectual capital, and relational capital theories and for firm practices.

Intellectual Capital History and Trends: A Bibliometric Analysis Using Scopus Database

This article aims to provide a bibliometric analysis of intellectual capital research published in the Scopus database from 1956 to 2020 to trace the development of scientific activities that can pave the way for future studies by shedding light on the gaps in the field. The analysis focuses on 638 intellectual capital-related papers published in the Scopus database over 60 years, drawing upon a bibliometric analysis using VOSviewer. This paper highlights the mainstream of the current research in the intellectual capital field, based on the Scopus database, by presenting a detailed bibliometric analysis of the trend and development of intellectual capital research in the past six decades, including journals, authors, countries, institutes, co-occurrence, and author’s keywords. The findings imply that intellectual capital researchers do not use broad relevant theories and findings from studies beyond their clusters. Another result is that developing nations continue to be underexplored in terms of intellectual property research due to a lack of trust representation and a lack of appropriate investigators. Finally, the data analysis identifies a number of potential research issues to be investigated regarding intellectual capital development, which serve as raw material for future research. Once again, this study provides a framework for firms to build and implement intellectual capital development plans.

Challenging the IC Theory: Suggestions for Some Ways Forward

Understanding how knowledge and related resources has permeated scholasticism and an intellectual capital (IC)-based view of the firm, and it has gained increasing weight in contemporary management literature. Manifold impacts of IC on organizational performance have been widely evidenced with management mechanisms for various IC dimensions to be found in most established organizations. As research is a strongly path-dependent activity, it seems natural that IC research may lean on classical frameworks and conceptualizations from prior decades. However, this consideration may be problematic, since large-scale changes in companies’ operating environments, such as digitalization, a crisis in sustainability, as well as reaction to the COVID-19 pandemic through remote-working initiatives. Consequently, call for new knowledge resources comes into play naturally. In this paper, an argument is made that the normative approaches for conceptualizing IC and its performance relevance must be updated. Further, we suggest that the new post-pandemic world of enterprise calls for novel understandings relevant to IC. To spur new thinking that offers a way forward, a theoretical model is proposed for a revised understanding of IC and its role in organizational viability. Important new issues are examined as related to various IC elements. The paper contributes to IC research by constructing a revised model of IC useful for generating topical research models suitable for development and testing in future theoretical and empirical studies. A set of potential research questions is outlined to guide additional research.

The Relationships Between National Intellectual Capital and Foreign Direct Investment

Foreign direct investment (FDI) has a significant influence on economic development, productivity and competitiveness in host countries. Policymakers are eager to attract FDI. With the importance of the knowledge economy, intellectual capital becomes a critical determinant of FDI location choice. Thus, the study tries to understand the relationships between national intellectual capital (NIC) and FDI in host countries and to compare the differences between developed countries and developing countries. The study hypothesizes that each component of NIC (human capital, market capital, process capital, renewal capital and financial capital) is positively related to FDI. Moreover, in developed countries, human capital and renewal capital has more influence on FDI while in developing countries, market capital and process capital have more influence on FDI.
 The study uses data from United Nations Conference on Trade and Development (UNCTAD) and Taiwan Intellectual Capital Research Center (TICRC). Because of data availability, the sample needs to be both included in the database of UNCTAD and TICRC during 2001 to 2018. The final sample consists of 59 countries which extends over the five continents. The study proceeds by using panel data, pooling 56 countries for the period from 2001 to 2019 after the Hausman test to determine whether there are fixed effects or random effects. A generalized least square (GLS) model is used to test the hypotheses with country-year data for FDI analysis.
 The results confirm that each dimension of NIC is positively related to inward FDI, indicating to the importance of NIC to attract inward FDI. In addition, national market capital, national process capital and national renewal capital have more influence on inward FDI in developing countries than in developed countries. Conclusions and practical suggestions are also provided.

Intellectual capital and R&D performance improvement: the case of Italian public universities

This paper aims to develop a model to analyse and improve the performance of R&D activities in Italian public universities through the intellectual capital (IC) perspective. The extant literature includes several models for R&D analysis, but none quantify the link between IC and universities' research activity performance. This research attempts to fill a gap in knowledge by explicitly focusing on the relationship between IC according to its dimensions and universities' research activity performance. To achieve this aim, we develop a theoretical model and test the model using secondary data from all the Italian public universities through the structural equation modelling method. The findings show that small universities with a good level of relations with external organisations, a good level of internationalisation and solid infrastructure have a higher level of scientific productivity than larger universities that are less internationalised and invest less in infrastructure.

Mapping the conceptual structure of intellectual capital research: A co-word analysis

This bibliometric study aims to map the conceptual structure of intellectual capital (IC) research between 1975 and 2020 using co-word analysis and social network analysis drawing upon the Web of Science database. The results show that 12,310 documents have been published from 1975 to 2020. From a total of 6,516 keywords used in documents, the five most frequent keywords have been identified as: “performance”, “innovation”, “knowledge”, “impact”, and “management”. The United States is the top-producing country with 3,303 documents. In addition, the findings indicate that the Journal of Intellectual Capital is the most prolific journal with 208 articles, and the Academy of Management Journal is the most frequently cited journal with 11,914 citations. The National Bureau of Economic Research (NBER) is the world's most prolific research institute with 84 documents. The most frequently used keywords in different geographical regions show that except for South America, where the most frequently used keyword is "innovation", "performance" is the most common keyword in Asia, Europe, North America, Oceania, and Africa. This study provides a comprehensive picture of the current state of IC research, thereby paving the way for future studies by shedding light on the gaps in the literature and presenting suggestions for future research.

PENGARUH INTELLECTUAL CAPITAL TERHADAP NILAI PERUSAHAAN SAAT PANDEMI COVID 19 DENGAN PROFITABILITAS SEBAGAI VARIABEL MODERASI (STUDI EMPIRIS PADA PEUSAHAAN LQ45 YANG TERDAFTAR DI BURSA EFEK INDONESIA)

This study analyzed the value of the company during the Covid 19 pandemic using LQ45 companies as the sample. This study aims to find out how the condition of the LQ45 firm value during the covid 19 pandemic during 2020. The data and information used in this study were obtained from the website of Indonesia stock exchange. This study used quantitative research methods. The independent variables used in this study were Intellectual capital, profitability as a moderating variable, and firm size as a control variable.The data used was secondary data in the form of audited annual financial reports obtained from the Indonesia Stock Exchange (IDX) website. Based on the results of the analysis of intellectual capital research that has a positive effect on firm value during the covid 19 pandemic, the profitability variable as a moderating variable can moderate the relationship between intellectual capital and firm value during the covid 19 pandemic, the firm size variable as a control variable has no effect on the firm value of LQ45 during the covid19 pandemic.

20 Years of Intellectual Capital Research: A Bibliometric Analysis

Intellectual Capital (IC) study began over 20 years ago. But little mapping of this study has been done. “How many IC articles have been published and cited?” This is vital for future IC research. This study's goal is to map 20 years of IC research bibliometrically. This is significant because IC has been shown to boost company performance, competitiveness, and welfare. Bibliometric analysis is used because it is quantifiable, objective, avoids potential subjective bias, and confirms expert opinions in the field of IC. The results showed 3993 IC articles between 2000-2020. English is the most extensively used language in publications, accounting for 95.04 percent. IC and competitive advantage, IC statement, and IC perspective are the most researched themes. Nick Bontis, James Guthrie, and John Dumay are the most prolific. This study's findings will be useful to future IC researchers.

Intellectual Capital and Firm Performance across Pakistani Industries

This study sheds light on the differences in intellectual capital (IC) efficiencies across non-financial sectors in Pakistan and determines the relationship between IC and firm performance. The study used sample of 155 non-financial firms from the manufacturing and service industries of Pakistan for the period 2009-2018. This study contributes to IC research by applying modified value-added intellectual capital (MVAIC) model with relationship to firm performance (return on assets and Tobin’s Q) of Pakistani non-financial firms which was overlooked by the previous researchers. In addition, to deal with endogeneity, the dynamic panel generalized methods of moments regression is applied to test the relationship between IC and performance. Findings provide evidence that different sectors in non-financial industries manage IC components differently. IC increases both market-based performance and accounting-based performance of Pakistani firms. Among all IC components, human capital efficiency is an important determinant of firm performance. The implication can provide help managers and investors to understand the IC to increase the firm performance.

Street earnings as a mediator of the effect of intellectual capital disclosure, customer value, and research development activities on firm value

This study is driven by the phenomenon of earnings indicators that can mislead investors due to managers' personal interests. As a result, investors would seek alternative earnings through analysts serving as intermediaries, referred to as street earnings. Street earnings are considered more predictive, informative, and more likely to be used to assess firm value. Furthermore, non-financial information from the corporation can affect street earnings. As a result, this study attempts to determine whether street earnings affect firm value while also determining whether it can mediate the relationship between non-financial information on firms with firm value. This analysis makes use of 392 observations from manufacturing firms between 2015 and 2020. SPSS 25 and the Sobel test are used to conduct data analysis. One of the three hypothesis is proven, namely that research and development activities directly and indirectly affect street earnings and firm value. If street earnings can moderate the relationship between the two variables, this conclusion is also supported by the Sobel test.