智力资本与企业绩效:审计师特征的调节作用

IF 2.3 Q2 BUSINESS, FINANCE
M. Rahman, Hongyi Liu
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引用次数: 1

摘要

目的研究中国交通运输业的智力资本及其构成要素(人力资本、结构资本和关系资本)对企业绩效的影响。此外,本研究还研究了审计师特征(包括大n和非大n审计师)作为调节作用来检验IC与公司绩效之间的关系。设计/方法/方法数据包括2011年至2020年在上海和深圳证券交易所上市的398家运输公司的年度观察数据。应用增值智力系数(VAIC)模型及其修正模型(MVAIC)来衡量集成电路效率。最后,采用固定效应回归分析来缓解内生性问题。为了研究审计师特征的调节作用,作者根据四大会计师事务所和非四大会计师事务所审计的客户进行了样本划分。研究结果表明,集成电路可以提高中国交通运输行业的企业绩效。总体而言,研究结果表明,集成电路对企业盈利能力和生产力具有显著的正向影响。人力资本、有形资产和金融资产(已使用资本)的作用非常重要,但结构资本的影响不显著。作者还发现,审计师特征在内部审计与公司绩效之间的关系中起着重要的调节作用。例如,当四大会计师事务所审计客户公司时,IC与公司绩效之间的正相关关系更为明显。同时,作者发现,当非四大会计师事务所审计客户公司时,IC与公司绩效之间存在负相关关系。实际意义管理者必须明白,集成电路的几个组成部分对公司的财务绩效有全面的影响。因此,管理者可以根据绩效结果将更多的资源投入到这些组件中,以强调其业务战略。原创性/价值本研究首次实证分析了集成电路及其组成部分对中国这个新兴市场交通运输行业企业绩效的影响。以往的研究主要集中在发达国家的高科技和金融行业,而集成电路对交通运输行业的影响在很大程度上是未知的。因此,本研究通过揭示集成电路的组成部分有助于实现良好企业绩效的几个潜在机制,为集成电路文献做出了贡献。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
Intellectual capital and firm performance: the moderating effect of auditor characteristics
PurposeThis study aims to examine the impact of intellectual capital (IC) and its three components (human, structural and relational capital) on corporation performance in the Chinese transportation industry. In addition, this study also investigates auditor characteristics (both Big-N and non-Big-N auditors) as a moderating role to examine the relationship between IC and corporate performance.Design/methodology/approachThe data include 398 firm-year observations of transportation companies listed on the Shanghai and Shenzhen Stock Exchange from 2011 to 2020. Value-added intellectual coefficient (VAIC) model and its modified version (MVAIC) are applied to measure IC efficiency. Finally, the fixed effects regression analysis is used to mitigate the endogeneity issue. To investigate the moderating effect of auditor characteristics, the authors divide the samples based on the clients audited by Big-4 and non-Big-4 firms.FindingsThis study reveals that IC can enhance firm performance in China’s transportation sector. Overall, findings indicate that on the whole, IC has a positive and significant impact on corporation profitability and productivity. Human capital and physical and financial assets (capital employed) play highly important roles, but structural capital has no significant impact. The authors also found that auditor characteristics play an important moderating role in the connection between IC and corporate performance. For example, the positive association between IC and corporate performance is more pronounced when Big-4 auditors audit client firms. At the same time, the authors found a negative relationship between IC and firm performance when non-Big-4 auditors audit client firms.Practical implicationsManagers must understand that several components of IC have a total effect on corporate financial performance. Therefore, managers can dedicate more resources to such components based on the performance outcomes to emphasize their business strategies.Originality/valueThis study is the first empirical analysis of the impact of IC and its components on corporation performance in the transportation sector in China, an emerging market. Previous studies mainly focus on developed countries’ high technology and financial industries sectors but the impact of IC in transportation industry largely remains unknown. Thus, the present findings contribute to IC literature by revealing several underlying mechanisms by which the components of IC help achieve good firm performance.
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来源期刊
Asian Review of Accounting
Asian Review of Accounting BUSINESS, FINANCE-
CiteScore
3.20
自引率
25.00%
发文量
32
期刊介绍: Covering various fields of accounting, Asian Review of Accounting publishes research papers, commentary notes, review papers and practitioner oriented articles that address significant international issues as well as those that focus on Asia Pacific in particular.Coverage includes but is not limited to: -Financial accounting -Managerial accounting -Auditing -Taxation -Accounting information systems -Social and environmental accounting -Accounting education Perspectives or viewpoints arising from regional, national or international focus, a private or public sector information need, or a market-perspective or social and environmental perspective are greatly welcomed. Manuscripts that present viewpoints should address issues of wide interest among accounting scholars internationally and those in Asia Pacific in particular.
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