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ENTELEKTÜEL SERMAYE VE PERFORMANS ARASINDAKİ İLİŞKİ: TÜRK BANKACILIK SEKTÖRÜ ÜZERİNE BİR ÇALIŞMA

Year 2021, Volume: 13 Issue: 25, 918 - 932, 31.07.2021
https://doi.org/10.14784/marufacd.976556

Abstract

Bu makalede, entelektüel sermayenin (IC) artan önemi göz önüne alınarak VAIC (Katma Değerli Entelektüel Katsayı) modeli kullanılmış ve entelektüel sermayenin ve bunun üç bileşeninin Türk bankalarının finansal performansı üzerindeki etkilerine odaklanılmıştır. Türkiye'de faaliyet gösteren 20 bankadan oluşan örneklemimiz, 2013/4Ç - 2019/3Ç dönemini kapsamaktadır. Finansal performans, geniş çapta kabul gören iki muhasebe oranı olan aktif karlılığı (ROA) ve öz kaynak karlılığı (ROA) ile ölçülmüştür. Sonuçlar, VAIC’in, beşeri sermaye verimliliğinin (HCE) ve işletme sermayesi verimliliğinin (CEE) bankaların finansal performansı ile pozitif korelasyon gösterdiğini belirtmektedir. Özellikle, sonuçlar bankaların kârlılığını artırmak ve sürdürülebilir duruma getirmek için entelektüel sermaye, beşeri sermaye, finansal sermaye ve fiziksel sermayenin önemini göstermektedir.

References

  • AL-MUSALI, Mahfoudh A. & ISMAIL, Ku N. (2016). Cross-country comparison of intellectual capital performance and its impact on financial performance of commercial banks in GCC countries. International Journal of Islamic and Middle Eastern Finance and Management, 9(4), 512-531.
  • ARSLAN, Mehmet Lütfi & CEVDET Kızıl. (2019). Measuring Intellectual Capital of Turkish Banks Listed on Borsa Istanbul Banking Index (BIST XBANK) with the Market Value / Book Value Method and Value Added Intellectual Coefficient (VAIC) Model. Emerging Markets Journal, 9(1), 100-116.
  • BUALLAY, Amina. (2019). Intellectual capital and performance of Islamic and conventional banking Empirical evidence from Gulf Cooperative Council countries. Journal of Management Development, 38(7), 518-537.
  • EL-BANNANY, Magdi. (2008). A study of determinants of intellectual capital performance in banks: the UK case. Journal of Intellectual Capital, 9(3), 487-498.
  • FIRER, Steven & WILLIAMS, S. Mitchell. (2003). Intellectual capital and traditional measures of corporate performance. Journal of Intellectual Capital, 4(3), 348-360.
  • JOSHI, Mahesh, CAHILL, Daryll & SIDHU, Jasvinder. (2010). Intellectual capital performance in the banking sector: An assessment of Australian owned banks. Journal of Human Resource Costing & Accounting, 14(2), 151-170.
  • JOSHI, Mahesh, CAHILL, Daryll, SIDHU, Jasvinder & KANSAL, Monika (2013). Intellectual capital and financial performance: an evaluation of the Australian financial sector. Journal of Intellectual Capital, 14(2), 264-285.
  • MADITINOS, Dimitrios, CHATZOUDES, Dimitrios & TSAIRIDIS, Charalampos (2011). The impact of intellectual capital on firms’ market value and financial performance. Journal of Intellectual Capital, 12(1), 132-151.
  • MARR, Bernard & MOUSTAGHFIR, Karim. (2005). Defining intellectual capital: a three-dimensional approach. Management Decision, 43(9), 1114-1128.
  • MAVRIDIS, Dimitrios G. (2004). The intellectual capital performance of the Japanese banking sector. Journal of Intellectual Capital, 5(1), 92-115.
  • MELES, Antonio, PORZIO, Claudio, SAMPAGNARO, Gabriele, & VERDOLIVA, Vincenzo. (2016). The impact of the intellectual capital efficiency on commercial banks performance: Evidence from the US. Journal of Multinational Financial Management (36), 64-74.
  • NAWAZ, Tasawar & HANIFFA, Roszaini. (2017). Determinants of financial performance of Islamic banks: an intellectual capital perspective. Journal of Islamic Accounting and Business Research, 8(2), 130-142.
  • NIMTRAKOON, Sirinuch. (2015). The relationship between intellectual capital, firms’ market value and financial performance - Empirical evidence from the ASEAN. Journal of Intellectual Capital, 16(3), 587-618.
  • OECD, (1999). MEASURING AND REPORTING INTELLECTUAL CAPITAL FROM A DIVERSE CANADIAN INDUSTRY PERSPECTIVE: Experiences, Issues and Prospects. OECD Symposium. Amsterdam. 1-59.
  • OPPONG, Godfred K. & PATTANAYAK, J. K. (2019). Does investing in intellectual capital improve productivity? Panel evidence from commercial banks in India. Borsa Istanbul Review, 19(3), 219-227.
  • OZKAN, Nasif, CAKAN, Sinan & KAYACAN, Murad. (2017). Intellectual capital and financial performance: A study of the Turkish Banking Sector. Borsa Istanbul Review, 17(3), 190-198.
  • PETTY, Richard & GUTHRIE, James. (2000). Intellectual capital literature review-Measurement, reporting and management. Journal of Intellectual Capital, 1(2), 155-176.
  • PULIC, Ante. (1998). Measuring the Performance of Intellectual Potential in Knowledge Economy. 2nd McMaster World Congress. 1-20.
  • PULIC, Ante. (2004). Intellectual capital - Does it create or destroy value? Measuring Business Excellence, 8(1), 62-68.
  • ROOS, Göran & ROOS, Johan. (1997). Measuring your Company’s Intellectual Performance. Long Range Planning, 30(3), 413-426.
  • SINGH, Sukhdev, SIDHU, Jasvinder, JOSHI, Mahesh & KANSAL, Monika. (2016). Measuring intellectual capital performance of Indian banks A public and private sector comparison. Managerial Finance, 42(7), 635-655.
  • STÅHLE, Pirjo, STÅHLE, Sten & AHO, Samuli. (2011). Value added intellectual coefficient (VAIC): A critical analysis. Journal of Intellectual Capital, 12(4), 531-551.
  • STEWART, Thomas A. (1991). Brainpower. Fortune Magazine, (127), 44-60.
  • SVEIBY, Karl E. (1997). The Intangible Assets Monitor. JOURNAL OF HUMAN RESOURCE COSTING AND ACCOUNTING, 2(1), 73-97.
  • TAN, Hong P., PLOWMAN, David & HANCOCK, Phil. (2007). Intellectual capital and financial returns of companies. Journal of Intellectual Capital, 8(1), 76-95.
  • TIWARI, Ranjit & VIDYARTHI, Harishankar. (2018). Intellectual capital and corporate performance: a case of Indian banks. Journal of Accounting in Emerging Economies, 8(1), 84-105.
  • TRAN, Dai B. & VO, Duc H. (2018). Should bankers be concerned with Intellectual capital? A study of the Thai banking sector. Journal of Intellectual Capital, 19(5), 897-914.
  • USLU, Hakan. (2020). Intellectual Capital in Islamic Banking Sector: Evidence from Turkey. The rest: Journal of Politics and Development 10(1), 51-65.
  • ZÉGHAL, Daniel & MAALOUL, Anis. (2010). Analyzing value added as an indicator of intellectual capital and its consequences on company performance. Journal of Intellectual Capital, 11(1), 39-60.
  • BRSA. (2020). Banking Regulation and Supervision Agency. Retrieved January 2020, from https://www.bddk.org.tr/BultenAylik/en, (accessed 10 January 2020).

THE RELATIONSHIP BETWEEN INTELLECTUAL CAPITAL AND PERFORMANCE: A STUDY ON TURKISH BANKING SECTOR

Year 2021, Volume: 13 Issue: 25, 918 - 932, 31.07.2021
https://doi.org/10.14784/marufacd.976556

Abstract

In this paper, considering the increasing importance of intellectual capital (IC), we focus on the effects of not only IC but also its three components on Turkish banks’ financial performance by using VAIC (Value Added Intellectual Coefficient) model. We use a sample of 20 banks operating in Turkey over the period 2013/Q4 - 2019/Q3. We measure financial performance by two widely accepted accounting ratios; namely, ROA and ROE. The results show that VAIC, human capital efficiency (HCE) and capital employed efficiency (CEE) are positively correlated with the banks’ financial performance. In particular, the results indicate the significance of overall intellectual capital, human capital, and financial and physical capital to both increase and sustain banks’ profitability.

References

  • AL-MUSALI, Mahfoudh A. & ISMAIL, Ku N. (2016). Cross-country comparison of intellectual capital performance and its impact on financial performance of commercial banks in GCC countries. International Journal of Islamic and Middle Eastern Finance and Management, 9(4), 512-531.
  • ARSLAN, Mehmet Lütfi & CEVDET Kızıl. (2019). Measuring Intellectual Capital of Turkish Banks Listed on Borsa Istanbul Banking Index (BIST XBANK) with the Market Value / Book Value Method and Value Added Intellectual Coefficient (VAIC) Model. Emerging Markets Journal, 9(1), 100-116.
  • BUALLAY, Amina. (2019). Intellectual capital and performance of Islamic and conventional banking Empirical evidence from Gulf Cooperative Council countries. Journal of Management Development, 38(7), 518-537.
  • EL-BANNANY, Magdi. (2008). A study of determinants of intellectual capital performance in banks: the UK case. Journal of Intellectual Capital, 9(3), 487-498.
  • FIRER, Steven & WILLIAMS, S. Mitchell. (2003). Intellectual capital and traditional measures of corporate performance. Journal of Intellectual Capital, 4(3), 348-360.
  • JOSHI, Mahesh, CAHILL, Daryll & SIDHU, Jasvinder. (2010). Intellectual capital performance in the banking sector: An assessment of Australian owned banks. Journal of Human Resource Costing & Accounting, 14(2), 151-170.
  • JOSHI, Mahesh, CAHILL, Daryll, SIDHU, Jasvinder & KANSAL, Monika (2013). Intellectual capital and financial performance: an evaluation of the Australian financial sector. Journal of Intellectual Capital, 14(2), 264-285.
  • MADITINOS, Dimitrios, CHATZOUDES, Dimitrios & TSAIRIDIS, Charalampos (2011). The impact of intellectual capital on firms’ market value and financial performance. Journal of Intellectual Capital, 12(1), 132-151.
  • MARR, Bernard & MOUSTAGHFIR, Karim. (2005). Defining intellectual capital: a three-dimensional approach. Management Decision, 43(9), 1114-1128.
  • MAVRIDIS, Dimitrios G. (2004). The intellectual capital performance of the Japanese banking sector. Journal of Intellectual Capital, 5(1), 92-115.
  • MELES, Antonio, PORZIO, Claudio, SAMPAGNARO, Gabriele, & VERDOLIVA, Vincenzo. (2016). The impact of the intellectual capital efficiency on commercial banks performance: Evidence from the US. Journal of Multinational Financial Management (36), 64-74.
  • NAWAZ, Tasawar & HANIFFA, Roszaini. (2017). Determinants of financial performance of Islamic banks: an intellectual capital perspective. Journal of Islamic Accounting and Business Research, 8(2), 130-142.
  • NIMTRAKOON, Sirinuch. (2015). The relationship between intellectual capital, firms’ market value and financial performance - Empirical evidence from the ASEAN. Journal of Intellectual Capital, 16(3), 587-618.
  • OECD, (1999). MEASURING AND REPORTING INTELLECTUAL CAPITAL FROM A DIVERSE CANADIAN INDUSTRY PERSPECTIVE: Experiences, Issues and Prospects. OECD Symposium. Amsterdam. 1-59.
  • OPPONG, Godfred K. & PATTANAYAK, J. K. (2019). Does investing in intellectual capital improve productivity? Panel evidence from commercial banks in India. Borsa Istanbul Review, 19(3), 219-227.
  • OZKAN, Nasif, CAKAN, Sinan & KAYACAN, Murad. (2017). Intellectual capital and financial performance: A study of the Turkish Banking Sector. Borsa Istanbul Review, 17(3), 190-198.
  • PETTY, Richard & GUTHRIE, James. (2000). Intellectual capital literature review-Measurement, reporting and management. Journal of Intellectual Capital, 1(2), 155-176.
  • PULIC, Ante. (1998). Measuring the Performance of Intellectual Potential in Knowledge Economy. 2nd McMaster World Congress. 1-20.
  • PULIC, Ante. (2004). Intellectual capital - Does it create or destroy value? Measuring Business Excellence, 8(1), 62-68.
  • ROOS, Göran & ROOS, Johan. (1997). Measuring your Company’s Intellectual Performance. Long Range Planning, 30(3), 413-426.
  • SINGH, Sukhdev, SIDHU, Jasvinder, JOSHI, Mahesh & KANSAL, Monika. (2016). Measuring intellectual capital performance of Indian banks A public and private sector comparison. Managerial Finance, 42(7), 635-655.
  • STÅHLE, Pirjo, STÅHLE, Sten & AHO, Samuli. (2011). Value added intellectual coefficient (VAIC): A critical analysis. Journal of Intellectual Capital, 12(4), 531-551.
  • STEWART, Thomas A. (1991). Brainpower. Fortune Magazine, (127), 44-60.
  • SVEIBY, Karl E. (1997). The Intangible Assets Monitor. JOURNAL OF HUMAN RESOURCE COSTING AND ACCOUNTING, 2(1), 73-97.
  • TAN, Hong P., PLOWMAN, David & HANCOCK, Phil. (2007). Intellectual capital and financial returns of companies. Journal of Intellectual Capital, 8(1), 76-95.
  • TIWARI, Ranjit & VIDYARTHI, Harishankar. (2018). Intellectual capital and corporate performance: a case of Indian banks. Journal of Accounting in Emerging Economies, 8(1), 84-105.
  • TRAN, Dai B. & VO, Duc H. (2018). Should bankers be concerned with Intellectual capital? A study of the Thai banking sector. Journal of Intellectual Capital, 19(5), 897-914.
  • USLU, Hakan. (2020). Intellectual Capital in Islamic Banking Sector: Evidence from Turkey. The rest: Journal of Politics and Development 10(1), 51-65.
  • ZÉGHAL, Daniel & MAALOUL, Anis. (2010). Analyzing value added as an indicator of intellectual capital and its consequences on company performance. Journal of Intellectual Capital, 11(1), 39-60.
  • BRSA. (2020). Banking Regulation and Supervision Agency. Retrieved January 2020, from https://www.bddk.org.tr/BultenAylik/en, (accessed 10 January 2020).
There are 30 citations in total.

Details

Primary Language English
Journal Section Makaleler
Authors

Yusuf Yılmaz This is me

Aslı Aybars

Publication Date July 31, 2021
Submission Date May 12, 2020
Published in Issue Year 2021 Volume: 13 Issue: 25

Cite

APA Yılmaz, Y., & Aybars, A. (2021). THE RELATIONSHIP BETWEEN INTELLECTUAL CAPITAL AND PERFORMANCE: A STUDY ON TURKISH BANKING SECTOR. Finansal Araştırmalar Ve Çalışmalar Dergisi, 13(25), 918-932. https://doi.org/10.14784/marufacd.976556