Yönetim Kurulu Yapısı Çeşitliliği ve Entelektüel Sermaye Performansı: Borsa İstanbul Firmaları Üzerine Dinamik Panel Veri Analizi

Abstract

Bilgiye dayalı rekabetin yaşandığı günümüz dünyasında işletmelerin sahip olduğu entelektüel sermaye değerleri kurumsal başarının sağlanması ve firma performansının artırılması açısından önem arz etmektedir. Bu çalışmanın amacı yönetim kurulu yapısının entelektüel sermaye performansı üzerinde etkisinin olup olmadığını araştırmaktır. Çalışmada, yönetim kurulu yapısı ve entelektüel sermaye performansı arasındaki ilişki, Borsa İstanbul’da farklı sektörlerde işlem gören 122 firmanın 2015-2018 yılı verileri kullanılarak Sistem-GMM yöntemi ile analiz edilmiştir. Çalışmanın bağımlı değişkenini oluşturan entelektüel sermaye performansı, Entelektüel Sermaye Katma Değer Katsayısı yöntemi ile hesaplanmıştır. Bağımsız değişken olan yönetim kurulu yapısının göstergeleri olarak ise; yönetim kurulu büyüklüğü, bağımsız üye oranı, kadın üye oranı ve yabancı üye oranı kullanılmıştır. Ayrıca karlılık ve büyüklük olmak üzere iki adet kontrol değişkeninden yararlanılmıştır. Model 1 için elde edilen bulgular neticesinde, yönetim kurulu büyüklüğü, yabancı üye oranı ve kadın üye oranlarının entelektüel sermaye performansı üzerinde pozitif ve istatistiksel olarak anlamlı bir etkisinin olduğu tespit edilmiş; ancak bağımsız üye oranının entelektüel sermaye performansı üzerinde istatistiksel olarak anlamlı bir etkisinin olmadığı belirlenmiştir. Model 2 için elde edilen analiz sonuçlarına göre ise, yönetim kurulu büyüklüğü ile bağımsız üye oranının entelektüel sermaye performansını artırdığı bu karşın yabancı üye ve kadın üye oranlarının entelektüel sermaye performansı üzerinde herhangi bir etkisinin olmadığı görülmüştür.

Keywords

• Entelektüel sermaye
• yönetim kurulu yapısı
• dinamik panel veri analizi

Board Structure Diversity and Intellectual Capital Performance: Dynamic Panel Data Analysis on Borsa İstanbul Firms

Abstract

In our today's world where knowledge-based competition is experienced, intellectual capital values owned by a firm are important in terms of ensuring corporate success and increasing the firm performance. The aim of this study is to investigate the impact of board structure on intellectual capital performance. The relationship between the structure of the board of directors and intellectual capital performance has been analyzed by the System-GMM method, using 2015-2018 data of 122 companies traded in different sectors in Borsa Istanbul. Intellectual capital, which is the dependent variable of the study, has been calculated by the Intellectual Capital Added Value Coefficient method. As the indicators of the board structure, which is an independent variable; board size, the ratio of independent members, the ratio of female members, and the ratio of foreign members have been used. In addition, two control variables (profitability and size) have been used in the study. As a result of the findings obtained for Model 1, a positive and statistically significant correlation has been observed between the size of the board of directors, the ratio of foreign, and female members and the intellectual capital performance; however, a significant relationship has not been obtained between intellectual capital and the ratio of independent members. According to the analysis results obtained for Model 2, it has been observed that the size of the board of directors and the ratio of independent members increase the intellectual capital performance, in spite that the ratio of foreign members and female members has no effect on intellectual capital performance.

Keywords

• Intellectual capital
• board structure
• dynamic panel data analysis

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