Intellectual Capital and the Creation of Value in Brazilan Companies

22 Pages Posted: 9 Jan 2008

See all articles by Flavio L. Richieri

Flavio L. Richieri

Escola Superior de Propaganda e Marketing (ESPM)

Leonardo Cruz Basso

Mackenzie Presbyterian University - Business Administration

Diógenes Manoel Leiva Martin

Mackenzie University

Date Written: January 9, 2008

Abstract

This study makes usage of CIV (Calculated Intangible Value) and ICE (Intellectual Capital Efficiency) to measure IC stock and flows respectively. It applies static panel data models, to study the influence of IC on companies ROE (Return-on-Equity), ROA (Return-on-Assets) and ROS (Return-on-Sales) ratios. The research utilizes a sample with data for the 1,000 biggest companies in Brazil from the Maiores and Melhores annual survey database, covering the period between 2000 and 2005.

Results found suggest the existence of a positive relation between both CIV and ICE and the dependent variables ROE, ROA and ROS.

Keywords: Intellectual capital (IC), Intangible assets, Knowledge assets, Value creation, Financial Performance, Valuation, Knowledge management (KM), Panel data

JEL Classification: C33, D21, D23, D46, I20, I21, I22, M20, M21

Suggested Citation

Richieri, Flavio L. and Cruz Basso, Leonardo and Martin, Diógenes Manoel Leiva, Intellectual Capital and the Creation of Value in Brazilan Companies (January 9, 2008). Available at SSRN: https://ssrn.com/abstract=1081849 or http://dx.doi.org/10.2139/ssrn.1081849

Flavio L. Richieri (Contact Author)

Escola Superior de Propaganda e Marketing (ESPM) ( email )

R. JOAQUIM TAVORA, 1240
Vila Mariana
Sao Paulo, SP 04015-013
Brazil
+55 11 9657 1919 (Phone)

Leonardo Cruz Basso

Mackenzie Presbyterian University - Business Administration ( email )

Rua da Consolacao, 896 7 - andar sala 73
01302-907 Sao Paulo
Brazil
+55 11 32368597 (Phone)
+55 11 32368600 (Fax)

Diógenes Manoel Leiva Martin

Mackenzie University ( email )

São Paulo
Brazil

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