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A theoretical analysis of the value added intellectual coefficient (VAIC)

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  • Giuseppe Marzo

    (University of Ferrara)

Abstract

This paper offers a critical assessment of the value added intellectual coefficient (VAIC) through the analysis of the coherence of the definitions of and semantic relationships among the theoretical constructs at the heart of the model. Some of the criticisms detected here refer to inconsistencies of the VAIC with the most consolidated concepts developed by the Intellectual Capital (IC) literature as well as to the constructs internal to the model and generated by the misalignment of Pulic’s theoretical assumptions with the way they have been translated into the mathematical model. Other criticisms derive from the time mismatch in the relationship among the variables constituting the three ratios and from the ambiguous meanings of human capital efficiency and structural capital efficiency. Implications for both researchers and managers are discussed.

Suggested Citation

  • Giuseppe Marzo, 2022. "A theoretical analysis of the value added intellectual coefficient (VAIC)," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 26(2), pages 551-577, June.
    • Handle: RePEc:kap:jmgtgv:v:26:y:2022:i:2:d:10.1007_s10997-021-09565-x
    DOI: 10.1007/s10997-021-09565-x
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    Cited by:

    1. Angi Skhvediani & Anastasia Koklina & Tatiana Kudryavtseva & Diana Maksimenko, 2023. "The Impact of Intellectual Capital on the Firm Performance of Russian Manufacturing Companies," Risks, MDPI, vol. 11(4), pages 1-25, April.
    2. Jabir Ali & Ishrat Naaz & Tabassum Ali, 2024. "Does corporate social responsibility improve value-added intellectual capital efficiency in food and agribusiness firms in India?," International Journal of Disclosure and Governance, Palgrave Macmillan, vol. 21(1), pages 93-106, March.
    3. King Carl Tornam Duho, 2022. "Intangibles, Intellectual Capital, and the Performance of Listed Non-Financial Services Firms in West Africa: A Cross-Country Analysis," Merits, MDPI, vol. 2(3), pages 1-25, June.

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