Intellectual capital and financial performance: evidence from Portuguese banks

Abstract

This work has as the main goal to measure the intellectual capital and to analyse its relationship with the financial performance of 12 Portuguese banks between 2009 and 2016. To achieve this aim, we have used panel dynamic models, where the value-added intellectual coefficient (VAIC) model measures the intellectual capital, allowing to conclude that this capital and its components - human, structural and relational - influence the three proxies used for financial performance - return on equity, return on assets and net interest margin. Our results point out that intellectual capital components influence the Portuguese banks' performance, and for this reason should be a bet on future strategic decisions. Banks manage intellectual capital to improve their financial performance, achieving the goals of the interested parties.

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