دانلود رایگان مقاله تاثیر بازده سرمایه فکری بر عملکرد بانک های تجاری: شواهدی از ایالات متحده

Abstract

Using a large sample of 5,749 commercial banks, covering over 40,000 observations over the time window 2005-2012, we find that efficiency in the use of Intellectual Capital (IC) positively affects the financial performance of US banks. In addition, the results show that the human capital (HC) efficiency, a subcomponent of IC efficiency, is found to have a larger impact on financial performance than other IC sub-components. These findings suggest that the development of effective techniques of knowledge management, enabling banks to accumulate the IC necessary to adapt to a constantly changing environment, represents an effective tool of achieving the goals of both bank managers and policymakers.

7. Conclusions

In this study, we have provided empirical evidence regarding the contribution of IC efficiency and its sub-components to explain banks’ financial performance, using the US market as an experimental setting. IC efficiency of banks was measured using the VAICTM methodology. The study was conducted on a sample of 5,749 US banks over the time period 2005-2012. Overall, the empirical findings, which are based on multivariate regressions of conventional banks’ financial performance measures on VAIC, using panel data with over 40,000 observations, highlight that IC efficiency plays an important role in bank performance. However, when the measure of IC efficiency is decomposed into its sub-components, the efficiency of HC, in particular, is shown have a major positive effect on banks’ returns.