Intellectual capital and value creation: evidence from the Portuguese tourism industry

Detalhes bibliográficos
Autor(a) principal: Costa, Vânia
Data de Publicação: 2019
Outros Autores: Silva, Lurdes, Loureiro, Paula
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/11110/2277
Resumo: The intellectual capital is an important corporate asset, able to generate sustainable competitive advantages and higher financial income. In the literature is recognized as a key element of the value creation in contemporary economy. One of the factors that emphasized the importance of intellectual capital in an organization was to change the focus of tangible capital management for the intangible, as a result of the affirmation of its importance in the process of creating organizational value (Abeysekera, 2006). This work aims to evaluate and compare the intellectual capital in its three dimensions: (i) human capital, (ii) structural capital and (iii) relational capital, to identify the added value and the efficiency of each dimension in the context of the tourism sector. To approach the aim of the study the method Value Added Intellectual Coefficient (VAIC™) was applied and the practical data were collected from the Simplified Business Information (IES) through SABI (Iberian Balance Sheet Analysis System) database. Therefore, the economic and financial information was collected from balance sheets and financial reports of 46 951 Portuguese companies in the tourism sector, during the 2007 to 2016 period. The results showed that all the dimensions of the intellectual capital has a positive and significant impact on the business performance of the tourism sector. Therefore the results coincide with the literature, since human capital is the most effective dimension of intellectual capital and value creation (average representation of 60%), suggesting that the substantially more efficient intellectual capital than the financial component. However, between 2007 and 2016 we concluded a VAIC decrease of 12.7% (3.47 in 2007 and 3.03 in 2016), reflecting a decrease in the efficiency of capital employed (-10%), human capital (- 21%) and relational capital (-19%). Analysing the data taking into account the reference values concerning indices of efficiency we can conclude that the indexes present good and excellent performance during the period under review, reflecting a minimum corporate income for efficient business income. The application of the VAIC™ model provides practical implications for management and valorization of intellectual capital. So the empirical results with the present analysis are of relevance for future strategy for the tourism sector development in Portugal.
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spelling Intellectual capital and value creation: evidence from the Portuguese tourism industryIntellectual CapitalHuman CapitalValue CreationTourismValue Added Intellectual Coefficient (VAICTM)The intellectual capital is an important corporate asset, able to generate sustainable competitive advantages and higher financial income. In the literature is recognized as a key element of the value creation in contemporary economy. One of the factors that emphasized the importance of intellectual capital in an organization was to change the focus of tangible capital management for the intangible, as a result of the affirmation of its importance in the process of creating organizational value (Abeysekera, 2006). This work aims to evaluate and compare the intellectual capital in its three dimensions: (i) human capital, (ii) structural capital and (iii) relational capital, to identify the added value and the efficiency of each dimension in the context of the tourism sector. To approach the aim of the study the method Value Added Intellectual Coefficient (VAIC™) was applied and the practical data were collected from the Simplified Business Information (IES) through SABI (Iberian Balance Sheet Analysis System) database. Therefore, the economic and financial information was collected from balance sheets and financial reports of 46 951 Portuguese companies in the tourism sector, during the 2007 to 2016 period. The results showed that all the dimensions of the intellectual capital has a positive and significant impact on the business performance of the tourism sector. Therefore the results coincide with the literature, since human capital is the most effective dimension of intellectual capital and value creation (average representation of 60%), suggesting that the substantially more efficient intellectual capital than the financial component. However, between 2007 and 2016 we concluded a VAIC decrease of 12.7% (3.47 in 2007 and 3.03 in 2016), reflecting a decrease in the efficiency of capital employed (-10%), human capital (- 21%) and relational capital (-19%). Analysing the data taking into account the reference values concerning indices of efficiency we can conclude that the indexes present good and excellent performance during the period under review, reflecting a minimum corporate income for efficient business income. The application of the VAIC™ model provides practical implications for management and valorization of intellectual capital. So the empirical results with the present analysis are of relevance for future strategy for the tourism sector development in Portugal.University Portucalense2022-03-09T10:11:56Z2022-03-09T10:11:56Z2019-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articlehttp://hdl.handle.net/11110/2277oai:ciencipca.ipca.pt:11110/2277eng9781510882935http://hdl.handle.net/11110/2277Costa, VâniaSilva, LurdesLoureiro, Paulainfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2022-09-05T12:53:33Zoai:ciencipca.ipca.pt:11110/2277Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T15:02:33.120269Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Intellectual capital and value creation: evidence from the Portuguese tourism industry
title Intellectual capital and value creation: evidence from the Portuguese tourism industry
spellingShingle Intellectual capital and value creation: evidence from the Portuguese tourism industry
Costa, Vânia
Intellectual Capital
Human Capital
Value Creation
Tourism
Value Added Intellectual Coefficient (VAICTM)
title_short Intellectual capital and value creation: evidence from the Portuguese tourism industry
title_full Intellectual capital and value creation: evidence from the Portuguese tourism industry
title_fullStr Intellectual capital and value creation: evidence from the Portuguese tourism industry
title_full_unstemmed Intellectual capital and value creation: evidence from the Portuguese tourism industry
title_sort Intellectual capital and value creation: evidence from the Portuguese tourism industry
author Costa, Vânia
author_facet Costa, Vânia
Silva, Lurdes
Loureiro, Paula
author_role author
author2 Silva, Lurdes
Loureiro, Paula
author2_role author
author
dc.contributor.author.fl_str_mv Costa, Vânia
Silva, Lurdes
Loureiro, Paula
dc.subject.por.fl_str_mv Intellectual Capital
Human Capital
Value Creation
Tourism
Value Added Intellectual Coefficient (VAICTM)
topic Intellectual Capital
Human Capital
Value Creation
Tourism
Value Added Intellectual Coefficient (VAICTM)
description The intellectual capital is an important corporate asset, able to generate sustainable competitive advantages and higher financial income. In the literature is recognized as a key element of the value creation in contemporary economy. One of the factors that emphasized the importance of intellectual capital in an organization was to change the focus of tangible capital management for the intangible, as a result of the affirmation of its importance in the process of creating organizational value (Abeysekera, 2006). This work aims to evaluate and compare the intellectual capital in its three dimensions: (i) human capital, (ii) structural capital and (iii) relational capital, to identify the added value and the efficiency of each dimension in the context of the tourism sector. To approach the aim of the study the method Value Added Intellectual Coefficient (VAIC™) was applied and the practical data were collected from the Simplified Business Information (IES) through SABI (Iberian Balance Sheet Analysis System) database. Therefore, the economic and financial information was collected from balance sheets and financial reports of 46 951 Portuguese companies in the tourism sector, during the 2007 to 2016 period. The results showed that all the dimensions of the intellectual capital has a positive and significant impact on the business performance of the tourism sector. Therefore the results coincide with the literature, since human capital is the most effective dimension of intellectual capital and value creation (average representation of 60%), suggesting that the substantially more efficient intellectual capital than the financial component. However, between 2007 and 2016 we concluded a VAIC decrease of 12.7% (3.47 in 2007 and 3.03 in 2016), reflecting a decrease in the efficiency of capital employed (-10%), human capital (- 21%) and relational capital (-19%). Analysing the data taking into account the reference values concerning indices of efficiency we can conclude that the indexes present good and excellent performance during the period under review, reflecting a minimum corporate income for efficient business income. The application of the VAIC™ model provides practical implications for management and valorization of intellectual capital. So the empirical results with the present analysis are of relevance for future strategy for the tourism sector development in Portugal.
publishDate 2019
dc.date.none.fl_str_mv 2019-01-01T00:00:00Z
2022-03-09T10:11:56Z
2022-03-09T10:11:56Z
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