The relationship between changes in corporate governance characteristics and intellectual capital

Artikel

The primary goal of this study was to investigate the effects of changes in corporate governance elements on a company's valuable resources (such as intellectual capital and its components). Previous studies have examined the impacts of some corporate governance characteristics on intellectual capital performance as a whole and they have produced inconclusive and different results. This paper examines the effects of some corporate governance characteristics (i.e., the change in CEO, the evolution of auditor, the change in board independence, and the change in institutional ownership) on intellectual capital and its components (i.e., capital employed, human capital, and structural capital). This research is based on a quantitative study and the selected sample contains 1170 observations from 220 companies listed on the Middle East Stock Exchange from 2011 to 2018. The research findings show a positive and significant relationship between an increase in institutional ownership and intellectual capital and its two components (human capital and structural capital). The results support the relationship between a change in auditor and intellectual capital and human capital efficiency. Further, a positive and significant association was found between an increase in board independence and human capital. However, no relationship was found between a change of CEO and intellectual capital or any of its components. This study extends the research field of corporate governance by studying the effects of changes in corporate governance characteristics on intellectual capital for the first time. Given the significant role of intellectual capital in the performance of firms, this study provides essential information to organisations' decision makers.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Journal: Journal of Risk and Financial Management ; ISSN: 1911-8074 ; Volume: 16 ; Year: 2023 ; Issue: 2 ; Pages: 1-19

Classification and Topics

• Classification: Management
• Subject: board independence ; changes of auditor ; changes of CEO ; institutional investors ; intellectual capital

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Nassirzadeh, Farzaneh ; Askarany, Davood ; Arefi-Asl, Solmaz
• Event: Veröffentlichung
• (who): MDPI
• (where): Basel
• (when): 2023

Further information

• DOI: doi:10.3390/jrfm16020133
• Handle: http://hdl.handle.net/10419/275201
• Last update: 10.03.2025, 11:43 AM CET