The Effect of Intellectual Capital on the Performance of Listed Companies in Iran Stock Exchange: A Panel Data Approach

Journal Title: International Journal of Financial Economics - Year 2014, Vol 3, Issue 3

Abstract

According to the resource-based view, intellectual capital is strategic resources that enable companies to create competitive advantage and deliver superior financial performance. Relationship between resources and firm performance is an undeniable relationship. Therefore, this article aims to examine the impact of intellectual capital on the performance of listed companies in Tehran Stock Exchange. The period under study is in 2006-2010 and selection sample consists of 112 firms. Statistical method for testing hypotheses in this study is panel data of "combined data" using Eviews software. The results of hypothesis testing using both QTOBIN model and return on equity (ROE) suggests that regardless of company size and debt structure, there is a positive significant relationship between intellectual capital and financial performance.

Authors and Affiliations

Ali Reza Hirad

Keywords

Related Articles

An Empirical Assessment of the Impact of Development Financial Institutions (DFIs) on Malaysian Economy

This paper aims to investigate the importance of Development Financial Institutions (DFIs) as a significant component of the financial system and their contributions towards promoting and supporting economic developmen...

An Empirical Analysis of the Effect of Income Inequality on Economic Growth in West Africa

The study empirically examined the effect of inequality on economic growth in West Africa covering the period 1980-2011, and using panel data from various secondary sources. The fixed effect and random effect, generali...

Does institutions quality matter for financial development and economic growth nexus? Another look at the evidence from MENA countries

The relationship between financial development and economic growth remains a fundamental issue in the economics and finance literature. This paper examines this relationship by introducing institutional variables (law a...

Factors Influencing Choice of Source of Business Finance By Small and Medium Enterprises: A Survey of Thika Municipality

Finance is regarded as one of the crucial prerequisites for economic development. Hence, access to credit as far as producers are concerned is an important factor since it provides external finance. Majority of small a...

Volatility Transmission among Macroeconomic Variables, Gold Return, Stock Return, Oil Return and Exchange Rate Return: Evidence from Pakistani Economy

This study employed GARCH and TGARCH models to examine the volatility transmission and asymmetry of information on volatility among macroeconomic variables in Pakistan for the period 2000 to 2010 monthly data. GARCH mo...

Download PDF file
  • EP ID EP27282
  • DOI -
  • Views 317
  • Downloads 7

How To Cite

Ali Reza Hirad (2014). The Effect of Intellectual Capital on the Performance of Listed Companies in Iran Stock Exchange: A Panel Data Approach. International Journal of Financial Economics, 3(3), -. https://europub.co.uk/articles/-A-27282