Examining the Relationship Between the Modified Value-Added Intellectual Coefficient and Financial Performance: A Study on the BIST Bank Index

Yasar Bayraktar () and Oguz Yusuf Atasel ()
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Yasar Bayraktar: Karadeniz Technical University, Faculty of Economics and Administrative Sciences, Department of Business Administration, Trabzon, Turkey
Oguz Yusuf Atasel: Trabzon University, Faculty of Economics, Administrative and Social Sciences, Department of International Trade and Logistics, Trabzon, Turkey

Muhasebe Enstitusu Dergisi - Journal of Accounting Institute, 2022, vol. 0, issue 67, 27-55

Abstract: The purpose of this study is to examine the relationship between the intellectual capital components and financial performance of banks in the Borsa Istanbul (BIST) Bank Index for the 2010-2021 period. For this purpose, the modified value-added intellectual coefficient (MVAIC) method has been used to measure intellectual capital. According to this method, human capital, relational (customer) capital, structural capital, and capital employed are taken into account with regard to the components of intellectual capital. Return on assets (ROA), return on equity (ROE), earnings per share, Tobin’s q, market-to-book value, and price-to-earnings (P/E) ratio have been used to measure financial performance. The study uses panel regression analysis as its method. As a result of the study, negative relationships have been determined for MVAIC with Tobin’s q, the market-to-book value, and the P/E ratio. In terms of the components of intellectual capital, negative relationships have been found for human capital with all the measures of financial performance except for earnings per share (no relationship); negative relationships have also been found for relational (customer) capital with earnings per share and the P/E ratio and a positive relationship with the market-to-book value; a negative relationship has been found between structural capital and the P/E ratio and positive relationships with ROA, ROE, and the market-to-book value; and a negative relationship has been found between capital employed and the P/E ratio and positive relationships with ROA, Tobin’s q, and the market-to-book value.

Keywords: Modified Value-Added Ä°ntellectual Coefficient; Financial Performance; Banks; Borsa Istanbul (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:ist:imeder:v:0:y:2022:i:67:p:27-55

DOI: 10.26650/MED.1117773

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