The impacts of intellectual capital of microfinance institutions on poverty alleviation

Chi Tung Luong, Ho Van Thi Cam, Chi Thi Ha Dang () and Anh Dinh Tuan Vu
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Chi Tung Luong: Foreign Trade University, Hanoi, Vietnam
Ho Van Thi Cam: Foreign Trade University, Hanoi, Vietnam
Chi Thi Ha Dang: Foreign Trade University, Hanoi, Vietnam
Anh Dinh Tuan Vu: Foreign Trade University, Hanoi, Vietnam

HO CHI MINH CITY OPEN UNIVERSITY JOURNAL OF SCIENCE - ECONOMICS AND BUSINESS ADMINISTRATION, 2025, vol. 15, issue 5, 169-186

Abstract: This study examines the impact of Intellectual Capital (IC) on poverty alleviation using a panel dataset of 3,114 Microfinance Institutions (MFIs) across 120 countries from 2009 - 2018. Intellectual capital is measured using the Value Added Intellectual Coefficient (VAIC), which comprises Human Capital Efficiency (HCE), Structural Capital Efficiency (SCE), and relational Capital Efficiency (CEE). The study adopts the Generalized Method of Moments (GMM) as the primary estimation technique to address potential endogeneity and dynamic relationships. The findings indicate that overall intellectual capital positively and significantly affects poverty alleviation. However, the impacts of its components are mixed. While relational capital contributes positively to poverty reduction, human capital shows no statistically significant effect, and structural capital efficiency unexpectedly displays a negative association with poverty mitigation. As a result, rather than merely expanding human capital, emphasis should be placed on skill specialization to improve efficiency. Additionally, fostering gradual technological adoption and facilitating knowledge-sharing can help optimize structural capital deployment, ultimately enhancing poverty reduction outcomes.

Keywords: intellectual capital; microfinance; microfinance institutions; poverty alleviation; VAIC model (search for similar items in EconPapers)
JEL-codes: G21 I32 O34 (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:bjw:econen:v:15:y:2025:i:5:p:169-186

DOI: 10.46223/HCMCOUJS.econ.en.15.5.4154.2025

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