EFFECT OF INTELLECTUAL CAPITAL ON THE FINANCIAL PERFORNMANCE OF BRAZILIAN COMPANIES LISTED ON B3’s IBRX-50 INDEX FROM 2013 TO 2017

Authors

DOI:

https://doi.org/10.19094/contextus.v17i3.42289

Keywords:

Intellectual capital; Market value; Financial performance; VAIC ™ model; IBrX50

Abstract

This study aims to analyze the effect of the components of intellectual capital on the financial performance of companies of the B3 IBrX-50 Index, Brazilian stock exchange. The components of the VAIC ™ model (PULIC, 1998) were used: human capital (HCE), structural capital (SCE) and employed capital efficiency (EEC). Performance was measured by the financial indicators ROA, ROE, ROS and Market Value, measured by Tobin’s Q. This is a quantitative, descriptive, documentary research, with secondary data from 2013 to 2017 collected from Economática®. Four econometric models were estimated by multiple regression with panel data to test the hypotheses. Results indicate that all components positively affect ROA and ROE; only CEE affects Market Value; HCE positively affects and SCE negatively affects ROS. The study contributes to the empirical analysis of the components of intellectual capital in the Brazilian context.

Author Biographies

Chaline Evangelho Meyr, Universidade Estadual do Oeste do Paraná

Master student in Accounting from the State University of Western Paraná - Unioeste. Specialist in Business Economics and Small Business Management from the Federal University of Fronteira Sul - UFFS (2019).

Simone Boruck Klein, Universidade Estadual do Oeste do Paraná - Unioeste

Master in Administration from Fundação Pedro Leopoldo-MG. Master student in Accounting at the Postgraduate Program Accounting Unioeste-PR.

Wagner Dantas de Souza Junior, Universidade Estadual do Oeste do Paraná - Unioeste

Master of Accounting from the State University of Western Paraná (2019), Specialist in Finance and Controllership from the Northern University of Paraná, MBA (2017) and Graduated in Business Administration from Unioeste (2016). He is currently a professor in the Accounting Sciences course at the Union of the Americas College (Uniamérica) in Foz do Iguaçu-PR and a Content Professor at VG Educacional / Maringá-PR.

Denis Dall'Asta, Universidade Estadual do Oeste do Paraná - Unioeste

Lecturer in the Master of Accounting and undergraduate course in Accounting at the State University of Western Paraná. Has a PhD in Production Engineering from the Federal University of Santa Catarina (2006). Master in Production Engineering from the Federal University of Santa Catarina (2000).

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Published

2019-12-20

How to Cite

Evangelho Meyr, C., Boruck Klein, S. ., Dantas de Souza Junior, W. ., & Dall’Asta, D. (2019). EFFECT OF INTELLECTUAL CAPITAL ON THE FINANCIAL PERFORNMANCE OF BRAZILIAN COMPANIES LISTED ON B3’s IBRX-50 INDEX FROM 2013 TO 2017. Contextus - Contemporary Journal of Economics and Management, 17(3), 88–113. https://doi.org/10.19094/contextus.v17i3.42289

Issue

Vol. 17 No. 3: set/dez 2019

Section

Articles

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