Intellectual capital and financial performance. Evidences from Italian firms

Paola Demartini, Francesca Maria Cesaroni, Mara Del Baldo and Paola Paoloni ()

Global Business and Economics Review, 2017, vol. 19, issue 4, 468-484

Abstract: Traditionally, intellectual capital (IC) is seen as consisting of three components: human, structural and relational capital. Nevertheless, an emerging body of literature has started to suggest that three other components also form part of IC. These are renewal capital (RC), trust capital (TC) and entrepreneurial capital (EC). This paper shows preliminary results from the Italian unit of an international project on intellectual capital and value creation. The article focuses particularly on EC and RC, to ascertain their influence on the performance of firms using descriptive analysis techniques. Multi-item scales are used as key tools to achieve the research goals. Our analysis reveals a markedly positive relationship between EBITDA and EC. RC and EC levels positively influence ROI. Finally, RC is linked to positive effects on ROA.

Keywords: intellectual capital; entrepreneurial capital; renewal capital; corporate performance; Italy. (search for similar items in EconPapers)
Date: 2017
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