Article2020

The impact of corporate governance on intellectual capitals efficiency in Iran

Mahmoud Lari Dashtbayaz · Mahdi Salehi · Alieyh Mirzaei · Hamideh Nazaridavaji

51 citations0/0 files storedInternational Journal of Islamic and Middle Eastern Finance and Management

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Intellectual Capital and Performance Analysis Corporate Finance and Governance Corporate Governance and Financial Management

Abstract

Purpose The purpose of this study is to evaluate the impact of corporate governance on intellectual capital (IC) in companies listed on the Tehran stock exchange. Design/methodology/approach In this paper, the board features (size, independence and CEO duality) and the characteristics of the audit committee (financial expertise, independence and size) are considered to measure the factors of corporate governance. The IC is also divided into communicative, human, structural and value-added IC. Research data are gathered using a sample of 132 companies during 2013-2016. Research hypotheses are analyzed using panel data and logistic regression models. Findings The findings indicate that while the board’s independence, financial expertise and the size of the audit committee are negatively related to the communicative capital, the relationship between audit committee independence and communicative capital is positive and significant. Further, the authors observe that there is a positive relationship between board independence and human capital, a negative and significant link between audit committee size and human capital. By the way, the results reveal that audit committee independence and audit committee size have, respectively positive and negative impact on structural capital. Originality/value The results of the current study may give more insight into the relationship between corporate governance and managerial capital in developing nations.

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References

1983Separation of Ownership and Control 1980Agency Problems and the Theory of the Firm 2001Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature 1985Bid, ask and transaction prices in a specialist market with heterogeneously informed traders 2002Audit committee, board of director characteristics, and earnings management 2003Boards of Directors and Firm Performance: Integrating Agency and Resource Dependence Perspectives 2003Earnings management and corporate governance: the role of the board and the audit committee 2003Boards of Directors and Firm Performance: Integrating Agency and Resource Dependence Perspectives

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