Exploring the Nonlinear Effect of Intellectual Capital on Financial Performance: Evidence from Listed Shipping Companies in China

Jian Xu, Yi Zhang and Maricel Agop

Complexity, 2021, vol. 2021, 1-12

Abstract: Intellectual capital (IC) is reckoned as a significant driving force of competitive advantage and financial sustainability of any organization. The study’s objective is to explore the nonlinear effect of IC and its components on financial performance (FP) of China’s listed shipping companies over a six-year period (2014–2019). The modified Value Added Intellectual Coefficient (MVAIC) model is used to systematically assess IC. The empirical results show an inverted U-shaped relationship between the aggregate IC and FP (measured through return on assets). Regarding IC components, human, relational, and innovation capitals have an inverted U-shaped relationship with FP, while the quadratic relationship between structural capital and FP is not significant. In addition, physical capital has a U-shaped relationship with FP. This study will offer some new insights for corporate managers to improve firms’ FP by effectively utilizing their IC resources.

Date: 2021
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://downloads.hindawi.com/journals/complexity/2021/9004907.pdf (application/pdf)
http://downloads.hindawi.com/journals/complexity/2021/9004907.xml (application/xml)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hin:complx:9004907

DOI: 10.1155/2021/9004907

Access Statistics for this article

More articles in Complexity from Hindawi
Bibliographic data for series maintained by Mohamed Abdelhakeem (mohamed.abdelhakeem@hindawi.com).