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Intellectual Capital and Business Performance: An Empirical Study for the Greek Listed Companies

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  • Dimitrios Maditinos
  • Zeljko Sevic
  • Charalampos Tsairidis

Abstract

The aim of this study is to empirically examine the four elements of intellectual capital (human capital, customer capital, structural capital and innovation capital) and their relationship with business performance in the Athens Stock Exchange (ASE). This study was conducted based on a psychometrically validated questionnaire developed and launched by Bontis (1997) and Bontis et al. (2000). Confirmatory Factor Analysis and Structural Equation Model have been used as statistical methods to analyse the five hypotheses developed. Our results are designed to extend it to degrees consistent with those revealed by Bontis et al. (2000) for a Malaysian set of industries. In particularly, we found that: (a) human capital is important and positively associated to customer capital in both service and non-service industries; (b) customer capital has an influence in structural capital rather than in non-service industries; (c) innovation capital seems to have an important and positive relationship to structural capital, regardless of the industry type; and (d) structural capital has a positive relationship to business performance in both industry types, and especially in non-service industries.

Suggested Citation

  • Dimitrios Maditinos & Zeljko Sevic & Charalampos Tsairidis, 2010. "Intellectual Capital and Business Performance: An Empirical Study for the Greek Listed Companies," European Research Studies Journal, European Research Studies Journal, vol. 0(3), pages 145-168.
    • Handle: RePEc:ers:journl:v:xiii:y:2010:i:3:p:145-168
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    Cited by:

    1. Bambang Hadi Prabowo, 2017. "The Impact of Intellectual Capital Disclosure and Information Asymmetry on the Cost of Equity Capital: an Empirical Investigation in Indonesia," International Journal of Research in Business and Social Science (2147-4478), Center for the Strategic Studies in Business and Finance, vol. 6(5), pages 01-12, September.
    2. Cheng-Hung Tsai & Eugene Burgos Mutuc, 2020. "Evidence in Asian Food Industry: Intellectual Capital, Corporate Financial Performance, and Corporate Social Responsibility," IJERPH, MDPI, vol. 17(2), pages 1-21, January.
    3. Hsiao, Shu-Hua, 2014. "PTE, innovation capital and firm value interactions in the biotech medical industry," Journal of Business Research, Elsevier, vol. 67(12), pages 2636-2644.
    4. Francesca Maria Cesaroni & Mara Del Baldo & Paola Demartini & Paola Paoloni, 2015. "Entrepreneurial, Renewal and Trust Capital of Italian Firms: Insights from an Empirical Study," International Journal of Management, Knowledge and Learning, International School for Social and Business Studies, Celje, Slovenia, vol. 4(1), pages 69-89.

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    More about this item

    Keywords

    Intellectual Capital; human capital; customer capital; structural capital and innovation capital; business performance; Confirmatory Factor Analysis and Structural Equation Modelling;
    All these keywords.

    JEL classification:

    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

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