Intellectual capital and firm performance: the moderating effect of controlling shareholders in Malaysia

IF 1.5 Q3 BUSINESS

International Journal of Learning and Intellectual Capital Pub Date : 2023-01-01 DOI:10.1504/ijlic.2023.129239

Irene Wei Kiong Ting, Jawad Asif, Qian Long Kweh, Imen Tebourbi

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引用次数: 1

Abstract

This study examines: 1) how intellectual capital (IC) investment nonlinearly affects firm performance; 2) how controlling shareholders moderate the nonlinear association between IC investment and firm performance. This study utilises the value-added intellectual coefficient to proxy for the efficiencies of IC and its components, namely, human capital, structural capital and capital employed. Panel regression analysis is conducted utilising data from 733 Malaysian public listed companies for the period 2009-2018. The positive effects of intangible components of IC investments vanish after a certain optimal breakpoint. Regression results also indicate that controlling shareholders moderate the nonlinear impacts of IC and component investment on firm performance except for human capital efficiency. This study is the first to examine the role of controlling shareholders in moderating the relationship between IC investment and firm performance with a joint investigation of controlling shareholders, IC, and firm performance.

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知识资本与企业绩效:马来西亚控股股东的调节作用

本研究探讨:1)智力资本投资对企业绩效的非线性影响;2)控股股东如何调节集成电路投资与企业绩效之间的非线性关联。本研究利用增值智力系数来代表集成电路及其组成部分(即人力资本、结构资本和使用资本)的效率。利用2009-2018年期间733家马来西亚上市公司的数据进行面板回归分析。集成电路投资中无形成分的积极作用在达到一定的最优断点后消失。回归结果还表明，除了人力资本效率外，控股股东调节了集成电路和组件投资对企业绩效的非线性影响。本研究首次通过对控股股东、集成电路和公司绩效的联合调查来检验控制股东在调节集成电路投资与公司绩效之间的关系中的作用。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

International Journal of Learning and Intellectual Capital Business, Management and Accounting-Strategy and Management

CiteScore

3.20

自引率

59.10%

发文量

期刊介绍： Strategy management is concerned with understanding the forces and causes that explain performance differences between organisations. One approach studies industry structures as external determinants of organisational performance. An alternative approach focuses on internal resources and capabilities as sources of sustained competitive advantage. This is the resource and capabilities theory of the firm. On the other hand, the knowledge-based view of the firm considers the firm as a repository of knowledge-based resources and capabilities. To the extent that these resources and capabilities are unique, rare, difficult to imitate and non-substitutable, they confer sustained competitive advantage on the firm.