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Autor
Arslan Muhammad (Bahria University Islamabad, PO box 44000, E-8, Islamabad, Pakistan), Zaman Rashid (Bahria University Islamabad, PO box 44000, E-8, Islamabad, Pakistan)
Tytuł
Intellectual Capital and Its Impact on Financial Performance: A Study of Oil and Gas Sector of Pakistan
Źródło
International Letters of Social and Humanistic Sciences (ILSHS), 2015, vol. 2 (1), s. 125-140, rys., tab., bibliogr. 40 poz.
Słowa kluczowe
Kapitał intelektualny, Wynik finansowy, Ropa naftowa, Gaz ziemny, Przemysł paliwowy
Intellectual capital, Financial performance, Oil, Natural gas, Fuel industry
Uwagi
summ.
Kraj/Region
Pakistan
Pakistan
Abstrakt
The study examines the Intellectual Capital (IC) performance of oil and gas sector of Pakistan over the period of 2007 to 2011 and its impact on corporate financial returns. The study uses value added intellectual coefficient (VAICit™) to measure IC performance and its various components of VAICit™ like (HCEit, SCEit and CEEit) and its impact on financial performance (ROEit, ROIit and EPSit). Micro panel data of oil and gas sector registered in KSE-100 index is collected from their consolidated annual reports over the period of 2007 to 2011. The IC performance is measured by Ante Pulic Model (VAICit™) and its effect on corporate returns (ROEit, ROIit and EPSit) is tested by Random Effect Model estimation. Hausman test suggests that study accepts null hypothesis (Chi2. Prop > 0.05) where for ui is uncorrelated with regressor means that random effect is preferred versus alternative fixed effect in all the proposed research models. The study reveals that VA is considered an important component for measuring the VAICit™ performance and it has positive and significant relationship with firm's profitability (EPSit) and HCEit and SCEit have positive and significant relationship with firm's financial performance (ROEit and ROIit) respectively. So, this study explores that Intellectual Capital Efficiency (ICE) has relatively larger contribution for measuring the VAICit™ performance where HCEit and SCEit execute substantive role to accelerate the financial performance of oil and gas sector of Pakistan as compare to tangible assets. (original abstract)
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Bibliografia
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Cytowane przez
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ISSN
2300-2697
Język
eng
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