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Volume 4 Issue 1 January 2006
Intellectual Capital and Value Creation: Evidence from the Portuguese Banking Industry
Maria do Rosário Cabrita and Jorge Landeiro Vaz
Technical University, Institute of Economics and Business Administration, Portugal
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Intellectual capital has been described as the intangibles that drive the organizational value creation and nurture the sustainable competitive advantage. However, these intangibles cannot create value if they are not activated, combined and transformed. Even knowledge is not worth much if it is not put to productive use along with other organizational resources. This means that intellectual capital is a phenomenon of interactions, combinations and complementarities. As such, managing intellectual capital becomes a matter of creating and supporting connectivity between all sets of resources and activities that influence the organizational performance.
Intellectual capital is a complex phenomenon that requires theory and research methodology. Intellectual capital research is actually at critical cross-roads with increased emphasis on developing theoretical concepts and testing relationships guided by such concepts. It is vital to consolidate some findings, namely arrive at a set of operational measures that meet minimal criteria of measurement.
Management theory claims that the linkage between theoretical definitions and their corresponding measures has been generally weak although the process of construct development and measurement is at the core of theory construction. Linking theory construction to theory testing is a sine qua non condition for the management theory development.
Previous studies demonstrate that intellectual capital is positively and significantly associated with organizational performance.
The purpose of our study is: (i) to develop and validate a set of operational measures; (ii) to examine interrelationships among intellectual capital components and organizational performance and; (iii) to study the interaction effects among intellectual capital components and organizational performance.
Research model and hypotheses are analysed using the SEM/PLS (Partial Least Squares) statistical approach. We compare our results with those of two previous studies in Canada and Malaysia
Keywords:
Intellectual capital, human capital, relational capital, structural capital, value creation.
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