臺灣博碩士論文加值系統

This research analyzes the impacts of intellectual capital on financial performance of 108 financial firms and 41 pharmaceutical firms operating in Vietnam. Financial performance was measured by Return on Equity (ROE), and Return on Assets (ROA), while the efficiency of using IC was measured by Value Added Intellectual Coefficient (VAIC) and its elements including Human Capital Efficiency (HCE), Capital Employed Efficiency (CEE) and Structural Capital Efficiency (SCE). Multiple regression models were used to discover the relationship among individual sub-components of VAIC and firms’ financial performance, and to compare the impacts of IC & its components on financial performance in two industries. The results showed that in Vietnamese financial firms, ROA and ROE are the consequences of the efficient methods of using IC. However, on the other hand, in Vietnamese pharmaceutical firms, human capital affects ROA; structural capital affects both ROE and ROA, while physical capital does not impact on financial performance. The limitations are VAIC components do not include relational capital, which is considered an important element of intellectual capital; and the old accounting system that Vietnamese firms are using leads to some weakness of data. In practical, the presented results are especially useful for companies’ implication of IC, for governments to use adequate policy to promote IC in firms, and for further research in the field.

Acknowledgements i
Abstracts ii
Table of Contents iii
List of Tables v
List of Figures vii
List of Abbreviations viii
Chapter 1: INTRODUCTION 1
1.1. Research Background 1
1.2. Research Objectives 4
1.3. Research Questions 4
1.4. Research Significance 5
1.5. Chapter Overview 5
Chapter 2: LITERATURE REVIEW AND HYPOTHESES DEVELOPMENT 6
2.1. Intellectual Capital 6
2.1.1. Definition and Scope of Intellectual Capital 6
2.1.2. Components of Intellectual Capital 7
2.1.3. Measuring Intellectual Capital 9
2.1.4. Calculation of VAICTM 11
2.2. Financial Performance 13
2.3. The Relation between IC and Firms’ Financial Performance 16
2.4. Financial and Pharmaceutical Firms 21
2.4.1. Financial and Pharmaceutical Firms in Vietnam 21
2.4.2. Intellectual Capital in Financial and Pharmaceutical Firms 25
2.5. Conceptual Framework and Hypotheses 27
Chapter 3: RESEARCH METHODOLOGY 28
3.1. Research Design 28
3.2. Population and Sampling 29
3.3. Data collection 30
3.4. Variables Definition and Measures 30
3.4.1. Independent Variables 30
3.4.2. Dependent Variable 31
3.4.3. Moderator Variable 31
3.4.4. Control Variable 31
3.5. Regression Models and Hypothesis Testing 31
3.6. Data analysis 32
Chapter 4: RESULTS AND ANALYSES 33
4.1. Descriptive Statistics 33
4.2. Correlation Analysis 34
4.3. Test of Control Variable 35
4.4. Hypothesis Testing 37
4.4.1. Test of Hypothesis 1 37
4.4.2. Test of Hypothesis 2 50
4.5. Summary of Results 63
Chapter 5: CONCLUSION AND RECOMMENDATIONS 64
5.1. Research Summary and Recommendations 64
5.1.1. Research Summary 64
5.1.2. Recommendations for Vietnamese Financial Firms 65
5.1.3. Recommendations for Vietnamese Pharmaceutical Firms 67
5.1.4. Recommendations for Vietnamese Government 69
5.1.5. Recommendations for Other Developing Countries 70
5.2. Limitations and Suggestions for Further Studies 71
5.2.1. Limitations 71
5.2.2. Suggestions for Further Studies 72
REFERENCES 73

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