Does intellectual capital boost the financial performances? case of pharmaceutical companies

Alexandra Ioana Daniela Rus, Ion Anghel, Monica Violeta Achim and Sorin Nicolae Borlea

The Valuation Journal, 2018, vol. 13, issue 2, 101-119

Abstract: The aim of this paper is to analyse the role and the importance of the intellectual capital to enhance the financial performance of the companies. For this purpose, a panel analysis is conducted on a sample of pharmaceutical companies which are listed on the Bucharest Stock Exchange, over the period 2013-2018. Our finding documents a positive influence of the intellectual capital on the performance company. The findings are important for managers in order to know that increasing the investments in intellectual capital and human resources could contribute to the financial success of the firm. Also, the results suggest that investors must consider the level of intellectual capital as a good predictor of the best rate of return of their investments. Finally, our results may have implications on policy-makers and regulatory authorities of countries in order to find the best policies meant to support the development of the professional skills of human resources with the final purpose of increase the economic wealth.

JEL-codes: J24 L25 M21 (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:vaj:journl:v:13:y:2018:i:2:p:101-119

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