1,721,017 research outputs found
The Human capital valuation: a Methological Proposal Among Intellectual Capital Elements
No full textThe Intellectual Capital (IC) is an important source of value for companies in recent years and has attracted special attention from scholars. In an economic scenario based knowledge on the role of human resources has been reallocated over time in the theory of the firm to rank higher than before. The worker's labor and management have evolved as a result of the growing attention to the intangible assets held by each business system. In the knowledge economy, manufacturing industries invest more and more in the processes of scientific and technological research in order to introduce new knowledge in production systems and ensure its survival by creating business value. The competitive firm invests in new productive ideas through scientific research and technology, the human factor and services. The knowledge worker, at every organizational level, have the knowledge that allows the organization to be competitive and to deal with the complexity of the environment by creating intellectual added value. The traditional factors of "old economy" based on physical assets has gone replacing, or at least reinforcing the belief that the "new economy" moves his footsteps mainly CI.
The aim of this paper is to examine the methods of evaluation of human capital and to provide an empirical methodology proposed by using a interactive logic in enhancement of the three components of intellectual capital.
In particular, the proposed methodology consists in the construction of a multiplier adjusted based on a simplified version of VAICTM able to express a direct relationship with the Return on Equity (ROE) from the perspective of creating value for shareholders based on the dynamic performance undertaking compared to those in the industr
The transfer of work and services to cooperative societies
No full textThe possibility of transferring works and services to cooperatives, by way of capital, confirms the trend that has
developed in the last few years, for which intangible and intellectual assets play a role that is becoming more and
more important to achieve company “performance” and the creation of company values.
In particular, extension of the application of this institutions to limited liability companies represents recognition, on
a legal level, of the value of human capital as an element of a system and a carrier of expected benefit for future years.
It is important to stop and focus on the reason why the transfer of works and services by way of capital implies the
creation of a new and separate business collaboration that, in cooperative societies, is regulated by general norms as
well as by the Law n. 142/2001
Il Reporting del Capitale Intellettuale
No full textIn recent years there has been a need to identify new tools, that must be more advanced and that are able to provide certainty, partly because of the evolution of the market, the economic strength and volatility of stock prices that has caused the bursting of the speculative bubble of the New Economy in 2001 and the financial crisis of 2008. This phenomenon, not being concluded, requires new models of representation, evaluation and management, and therefore new educational approaches, at a university level too. In this sense an important role was reserved by the academic world, requested to give more concrete answers on the meaning and significance of Intellectual Capital and in general on the intangible within the factory system. As evidenced by the facts, the financial market punishes the uncertainty and lack of information on resources and critical business processes with effects on the variability of the stock and with a higher cost of capital.
This work uses the methodology of the research report on the conceptual analysis of intellectual capital on the basis of European guidelines and the various projects undertaken nationally and internationally. In particular the study seeks to introduce new points of discussion by emphasizing the role played by intangible holdings and to identify indicators that can detect the resources perceived as invisible more than intangible
UEFA versus IFRS. I diritti alle prestazioni sportive dei giocatori professionisti: dalla rilevazione al costo a quella al fair value
No full text
How much do Intellectual Capital, Ownership Structure and the Board of Directors affect the Performance of Italian listed companies?
No full textPurpose – The objective of this paper is to examine the relationship between some aspects of governance (such as ownership structure and characteristics of the board), the efficiency of intellectual capital and the economic and market performance of a sample of Italian listed companies.
Design/methodology/approach – This study investigates a sample of forty Italian listed companies during the period 2002-2012, whose shareholder weight is equal to approximately 50 percent of the total market capitalization. In particular, through regression analysis there will be an examination of the relationship between economic and market performance and the efficiency of intellectual capital, the characteristics of the board and the ownership structure of the companies investigated. In addition, a few control variables (debt ratio, size, industry and firm age) will be used to measure the impact on the regression analysis.
Originality/value – This methodology highlights both the relationship between the efficiency of intellectual capital and the performance of firms and the influence that the governing body can have on the efficiency of intellectual capital. The research on the one hand extends the existing literature on some aspects of corporate governance and intellectual capital; on the other hand it aims to test the importance of the ownership structure and the characteristics of the board of directors as a means of creating value in firms.
Practical implications – The outcome of the application, in addition to enhancing knowledge on the relationship between ownership structures, the characteristics of the board, the efficiency of intellectual capital and business performance, intends to determine if the board of Italian listed companies affects the determination of business results and the management of intellectual capital. Moreover, the results could be useful both for policy makers in order to regulate the size of the boards and their independence with respect to the ownership, and also for enterprises in determining compensation and benefits
Intellectual Capital (IC) and Performance of listed companies: Empirical Evidence from Italy
No full textPurpose – The purpose of this paper is to investigate the relationship between corporate
performance and Value Added Intellectual Coefficient (VAICTM) on the one hand, and
the relationship between the variations in MV and the variations in VAIC on the other
hand.
Design/methodology/approach – Starting from the VAIC model, 23 Italian listed
companies were examined with the aim of investigating the relationship between VAIC
and the performance of the firms in the sample. The analysis can be divided into two
stages. In the first stage, after the correlation analysis, 8 models of linear regression were
estimated to verify the presence of a positive and statistically significant relationship
between M/BV and VAIC and between accounting performance indicators (ROE, ROI,
ROS) and the VAIC. In the second phase, 6 other models were tested, considering as an
independent variable the variations in MV and VAIC and the variations in profitability
indicators and VAIC throughout the period of analysis.
Originality/value – This methodology highlights some very interesting aspects. In
particular, whereas the relationship between M/BV and VAIC and between profitability
indicators (ROI, ROE, ROS) and VAIC is statistically insignificant, the subsequent
analysis highlights the importance of VAIC as a variable capable of increasing the
explanatory power of the regression in a cross-sectional perspective.
Practical implications – The outcomes of the application stress the importance of VAIC
in the explanation of the variations in MV and its role as “additional coefficient” in theanalysis of equity performance. In other words, the use of VAIC in regression analysis
improves the explanatory power of the model
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