The Impact of Ownership Structure on Intellectual Capital Efficiency: Evidence from Polish Emerging Market

Posted: 29 Dec 2013

See all articles by Leszek Bohdanowicz

Leszek Bohdanowicz

University of Lodz - Department of Business Management

Grzegorz Urbanek

University of Lodz - Department of Business Management

Date Written: December 27, 2013

Abstract

This study examines how ownership structure affects the intellectual capital efficiency. It is conducted in an emerging market and uses data on Polish companies listed on the Warsaw Stock Exchange. We find that ownership by management board members negatively affects intellectual capital efficiency and especially structural capital efficiency. We also find the negative relationships between ownership by foreign investors and capital employed efficiency. Moreover, our study shows that the interactions between ownership structure and intellectual capital efficiency are different in high-tech and non-high-tech industries. This findings suggest that ownership structure plays a significant role in intellectual capital creation and efficiency.

Keywords: Ownership structure, Intellectual Capital, Agency problem, Firm performance, Poland

JEL Classification: G32, G34, L21

Suggested Citation

Bohdanowicz, Leszek and Urbanek, Grzegorz, The Impact of Ownership Structure on Intellectual Capital Efficiency: Evidence from Polish Emerging Market (December 27, 2013). Available at SSRN: https://ssrn.com/abstract=2372412 or http://dx.doi.org/10.2139/ssrn.2372412

Leszek Bohdanowicz (Contact Author)

University of Lodz - Department of Business Management ( email )

Matejki 22/26
Lodz, 90-237
Poland

Grzegorz Urbanek

University of Lodz - Department of Business Management ( email )

Matejki 22/26
Lodz, 90-237
Poland

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