The impact of intellectual capital on corporate performance: evidence from the Egyptian insurance market

Mohamed Sherif, Mahmoud Elsayed

    Research output: Contribution to journalArticlepeer-review

    19 Citations (Scopus)

    Abstract

    This paper examines, using various econometric techniques, the impact of intellectual capital (IC) on the performance of Egyptian insurance companies listed between 2006 and 2011. We measure IC using the value added intellectual coefficient (VAIC) approach and its components developed by Pulic (2000), and both a direct and a moderating relationship between VAIC and corporate performance are investigated. Our results show a direct relationship between (IC-VAIC) and the performance of Egyptian insurance companies, particularly with capital employed efficiency (CEE), and to a lesser extent with human capital efficiency. In addition, a positive relationship between IC (capital employed and structural capital) and performance in the prior and current years is found. Evidence also suggests the possibility of a moderating relationship between IC and physical and financial capital, which in turn impacts on corporate performance. Our study also reveals the importance of taking into account any unobservable heterogeneity and endogeneity issues when analysing corporate performance.
    Original languageEnglish
    Article number1650034
    Number of pages47
    JournalInternational Journal of Innovation Management
    Volume20
    Issue number3
    Early online date6 Nov 2015
    DOIs
    Publication statusPublished - Apr 2016

    Keywords

    • Intellectual capital
    • financial performance
    • insurance companies
    • Egypt

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