The Effect of Intellectual Capital on the Financial Performance of Islamic and Conventional Life Insurance Companies in GCC and ASEAN

Öz

The objective of this study is to examine the association of intellectual capital with the financial performance of Islamic and conventional life insurance companies in the regions of the GCC and ASEAN. The study conducts an analysis to assess the association between intellectual capital, assessed explicitly by the value-added intellectual coefficient (VAIC) using Ordinary Least-Square Regression, and the financial performance of life insurance in the GCC and ASEAN through the panel analysis encompassing 4 GCC countries and 2 ASEAN, which encompasses of 26 conventional and 24 Islamic life insurance covering 2017-2021 period. The findings indicate a distinction between conventional and Islamic life insurance companies. The impact of intellectual capital in the context of conventional life insurance on financial performance is only affected by Capital Employed Efficiency. Conversely, financial performance is significantly affected by the intellectual capital elements of Islamic life insurance, except structural capital. Despite varying outcomes, conventional and Islamic life insurance correlation demonstrates a noteworthy impact of intellectual capital, except for structural capital, on financial performance.

Anahtar Kelimeler

• Intellectual Capital
• Financial Performance
• Islamic Finance
• Life Insurance

Entelektüel Sermayenin KİK ve ASEAN’daki İslami ve Konvansiyonel Hayat Sigortası Şirketlerinin Finansal Performansı Üzerindeki Etkisi

Öz

Bu çalışmanın amacı, entelektüel sermayenin KİK ve ASEAN bölgelerindeki İslami ve geleneksel hayat sigortası şirketlerinin finansal performansı ile ilişkisini incelemektir. Çalışmada, Sıradan En Küçük Kare Regresyonu kullanılarak katma değer entelektüel katsayısı (VAIC) ile hesaplanan entelektüel sermaye ve KİK ve ASEAN’daki hayat sigortalarının finansal performansı arasındaki ilişki analiz edilmiştir. Çalışma, 2017-2021 dönemininde 26 konvansiyonel ve 24 İslami hayat sigortası verilerini içeren 4 KİK ülkesi ve 2 ASEAN ülkesini kapsayan panel veri analizi yoluyla incelenmiştir. Bulgular, geleneksel ve İslami hayat sigortası şirketleri arasında bir ayrım olduğunu göstermektedir. Konvansiyonel hayat sigortası bağlamında entelektüel sermayenin finansal performans üzerindeki etkisine bakıldığında, sadece kullanılan sermaye verimliliğinden etkilendiği görülmektedir. Tersine, İslami hayat sigortasında finansal performans, yapısal sermaye hariç, entelektüel sermaye unsurlarından önemli ölçüde etkilenmektedir. Farklı sonuçlara rağmen, geleneksel ve İslami hayat sigortasındaki korelasyon, yapısal sermaye hariç entelektüel sermayenin finansal performans üzerinde kayda değer bir etkisi olduğunu göstermektedir.

Anahtar Kelimeler

• Entelektüel Sermaye
• Finansal Performans
• İslami Finans
• Hayat Sigortası

Kaynakça

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