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Impact of Intellectual Capital to Financial Performance of Multinational Firms in BIST With The Perspective of Resource-Based View and Stakeholder View

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  • Ali OZER
  • Nevin OZER

Abstract

According to the resource-based view on the subject, intellectual capital is “the source of the business performance” and “an important key to gain competitive advantage”. The stakeholder view recommends that a better measure of financial performance than accounting profit is the total wealth created or net value added.Accordingly, this study examines the relationship between a return on total assets based on net value added (stakeholder view) and the strategic intangible asset of intellectual capital (resource-based view) on multinationality firms quoted in BIST for the period 2002-2011. The performance of intellectual capital is measured by Valued Added Intellectual Coefficient (VAIC) model which is employed by Ante Pulic. The results using a sample of BIST multinational firms are statistically significant in support of both the resource-based and stakeholder views.

Suggested Citation

  • Ali OZER & Nevin OZER, 2014. "Impact of Intellectual Capital to Financial Performance of Multinational Firms in BIST With The Perspective of Resource-Based View and Stakeholder View," Journal of BRSA Banking and Financial Markets, Banking Regulation and Supervision Agency, vol. 8(2), pages 119-149.
    • Handle: RePEc:bdd:journl:v:8:y:2014:i:2:p:119-149
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    Keywords

    Intellectual Capital; Resource-Based View; Stakeholder View;
    All these keywords.

    JEL classification:

    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models

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