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Censoring model for evaluating intellectual capital value drivers

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Abstract:

Purpose ‐ The purpose of this paper is to examine the relationship between firms' value drivers and their intellectual capital (IC). Design/methodology/approach ‐ The health care sector (GICS 35) firms listed in the S&P500 were used to build a research censoring Tobit model by adopting financial data to determine value drivers. Findings ‐ The results of the study show that innovation capital, customer capital and human capital are significant positive drive factors for firms to create more IC and hence more intangible value. Process capital exerts moderating effects on IC; organizations with greater process capital must raise customer capital to enhance intellectual value. Originality/value ‐ This is the first empirical study that uses a censoring Tobit model and tests of the association between competitive advantage and the value drivers of firms. This research successfully combines management perspectives with financial data to describe the value drivers of firms.

Keywords: Financial data processing; Intellectual capital

Document Type: Research Article

DOI: https://doi.org/10.1108/14691930810913195

Publication date: 2008-10-17

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