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).

Downloads

Published

12/20/2019

Issue

Vol. 17 No. 3: set/dez 2019

Section

Articles

License

 

The authors, while doing the submission, accept the notice below:

We authors hold the copyright related to our paper and transfer Contextus journal the right for the first publication with a Creative Commons’ international license of the modality Attribution – Non-commercial 4.0, which in turn allows the paper to be shared providing that both the authorship and the journal’s right for initial release are acknowledged.

Furthermore, we are aware of our permission to take part in additional contracts independently for non-exclusive distribution of the version of our work published in this journal (e.g. publishing it in an institutional repository or as a book chapter), while acknowledging both the authorship and the journal’s initial publication.

We also certify that the paper is original and up to this date has not been released in any other journal, Brazilian or of another nationality, either in Portuguese or another language, as well as it has not been sent for simultaneous publication in other journals.

Last, we not only know that plagiarism is not tolerated by Contextus but also certify the paper presents the sources of passages from cited works, including those authored by ourselves.

How to Cite

EFFECT OF INTELLECTUAL CAPITAL ON THE FINANCIAL PERFORNMANCE OF BRAZILIAN COMPANIES LISTED ON B3’s IBRX-50 INDEX FROM 2013 TO 2017. (2019). Contextus - Revista Contemporânea De Economia E Gestão, 17(3), 88-113. https://doi.org/10.19094/contextus.v17i3.42289