Measuring Firm-Specific Organizational Capital and its Impact on Value and Productivity: Evidence From Japan

Pablo Gonzalo Ramirez () and Toyohiko Hachiya ()
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Pablo Gonzalo Ramirez: Department of Industrial Engineering & Management, Tokyo Institute of Technology, 2-12-1, W9-75, Ookayama, Meguro-ku, Tokyo 152-8552, Japan
Toyohiko Hachiya: Department of Industrial Engineering & Management, Tokyo Institute of Technology, 2-12-1, W9-75, Ookayama, Meguro-ku, Tokyo 152-8552, Japan

Review of Pacific Basin Financial Markets and Policies (RPBFMP), 2006, vol. 09, issue 04, 549-574

Abstract: In this study we used Japanese firm-level data in order to explore the productive impact of organizational capital by isolating the effect of other intangibles like R&D, brand, human and social capital. Fixed-effect and random-effect panel methodology are proposed to assess specific-organizational capital at firm level. Our results suggest that in monetary terms the value of firm-specific organizational capital stock is significant when compared to traditional assets. Findings suggest that firms building up higher stocks of organizational capital not only increase their productivity but also their value.

Keywords: Intangibles; firm-specific organizational capital; productivity; market value (search for similar items in EconPapers)
JEL-codes: G1 G2 G3 (search for similar items in EconPapers)
Date: 2006
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Citations: View citations in EconPapers (2)

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DOI: 10.1142/S0219091506000860

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