THE MODERATING EFFECT OF HUMAN CAPITAL ON INNOVATION CAPITAL AND FIRM MARKET VALUE RELATIONSHIP: AN APPLICATION ON BIST

In today's world, for wealth creation, capital should be invested in a manner of leading to innovation and human development. This kind of wealth creation, is generally discussed in the concept of intellectual capital (IC). There is a widespread belief in the literature that IC is a phenomenon...

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Bibliographic Details
Published inInternational journal of management economics and business Vol. 13; no. ICMEB17; pp. 512 - 522
Main Authors ÇAM, İlhan, ÖZER, Gökhan
Format Journal Article
LanguageEnglish
Published Zonguldak Bulent Ecevit University, Uluslararasi Yonetim Iktisat ve Isletme Dergisi Editorlugu 31.12.2017
Subjects
Human capital
Impact analysis
Intangible assets
Intellectual capital
Market value
Studies
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Summary:In today's world, for wealth creation, capital should be invested in a manner of leading to innovation and human development. This kind of wealth creation, is generally discussed in the concept of intellectual capital (IC). There is a widespread belief in the literature that IC is a phenomenon based on interactions and interdependencies among its components. In this paper, it was investigated the impact of innovation capital (INVC) on firm market value and moderating effect of human capital (HC) on this relation. Experimental models were based on Ohlson (1995) model. INVC and HC were measured by using proxy variables derived from accounting data. This paper concludes that INVC can be considered to be value-relevant to market participants, and HC augments the role of INVC in reinforcing firm's market value. As a managerial implication, managers should consider the interaction between HC and INVC when developing a strategy of utilizing intangible assets for sustainable performance.
ISSN:2147-9194
2147-9208
2147-9194
DOI:10.17130/ijmeb.2017ICMEB1735469