Analysis of the intellectual capital model in state-owned banks of the Islamic Republic of Iran

Subject Areas :

علیرضا  اسلامبولچی ¹ (نویسنده مسئول، استادیار گروه مدیریت دولتی، واحد همدان، دانشگاه آزاد اسلامی، همدان، ایران.)
بهزاد  زارعیان مرادآبادی ² (دانشجوی دکتری گروه مدیریت دولتی، واحد همدان ، دانشگاه آزاد اسلامی، همدان، ایران.)
کامبیز  حمیدی ³ (استادیار گروه مدیریت دولتی، واحد همدان، دانشگاه آزاد اسلامی، همدان، ایران.)
تحفه  قبادی لموک ⁴ (استادیار گروه مدیریت، واحد گنبدکاووس، دانشگاه آزاد اسلامی، گنبدکاووس، ایران.)

Received: 2022-05-07 Accepted : 2022-06-27 Published : 2022-10-22

Keywords: structural capital, Human Capital, Customer Capital, Key words: Intellectual Capital, Innovation Capital,

Abstract :

Abstract The main purpose of this study is to investigate the intellectual capital model in state-owned banks of the Islamic Republic of Iran. The present study is a quantitative research in terms of applied purpose and in terms of the nature of the data. The statistical population of this study was all managers of state-owned banks in the Islamic Republic of Iran, numbering 1100 people. The statistical sample of 285 people was selected by stratified random sampling method according to Morgan table. The research tool included a researcher-made questionnaire. The collected data were analyzed using descriptive statistics and structural equation modeling using SPSS22 and Smart PLS2 software. The validity, reliability and quality of the research model were confirmed. Based on several models of measuring intellectual capital presented by previous researchers, intellectual capital is classified into human capital, structural capital, innovation capital and customer capital. In this research, a qualitative index system has been designed for the above four elements of intellectual capital by analyzing their content. Through empirical study in state-owned banks, it was found that there is a significant relationship between the scores of the four elements and its business performance, which proves the validity and rationality of the intellectual capital measurement model and the system of indicators. In the meantime, further empirical study proves that there is a significant relationship between the four elements of intellectual capital. Therefore, banks must manage and improve their intellectual capital from an integrated perspective.

References:

منابع
- Ali, B. J., & Anwar, G. (2021). Intellectual capital: A modern model to measure the value creation in a business. International journal of Engineering, Business and Management, 5(2), 31–43.
- Andonova, V., & Pava-Ruíz, G. (2016). The role of industry factors and intangible assets in Colombia. Journal of Business Research, 69(10), 4377-4384.
- Arefumanesh, Z., Rahmani, A. (2015). Presenting a model for valuing intangible assets in companies listed on the Tehran Stock Exchange, Management Accounting Quarterly, 8(26), 112-81. (Persian)
- Aulia, H., Fanani, Z., Prasetyo, K., & Mardijuwono, W. (2015). The impact of intangible asset on firm’s competitive advantage and market value: Empirical Examination from Emerging Market. www.ssrn.com.
- Badiee, H., Ali Akbar, MA, Hosseinzadeh, A. (2021). The Impact of Intangible Asset Value on Profitability, Productivity, Capital Structure, Profit Sharing Policy and Market Value in Exchange and OTC Companies, Accounting and Management Perspectives Quarterly, 4(49), 81-66. (Persian).
- Bakhsha A, Afrazeh A, Esfahanipour A. (2018). Identifying the Variables of Intellectual Capital and Its Dimensions with the Approach of Structural Equations in the Educational Technology of Iran. EURASIA Journal of Mathematics, Science and Technology Education. Jan 1;14(5):1663-82.
- Barker, R., Lennard, A., Penman, S., Teixeira, A. (2021): Accounting for intangible assets: suggested solutions, Accounting and Business Research, DOI: 10.1080/00014788.2021.1938963.
- Bontis N, Fitz-Enz J. (2002). Intellectual capital ROI: a causal map of human capital antecedents and consequents. Journal of Intellectual capital. 2002 Sep 1; 3(3):223-47.
- Brooking A. IC. (1996). Core Asset for the Third Millennium Enterprise. Journal of Intellectual Capital.
- Castilla-Polo, F., & Gallardo-Vázquez, D. (2016). The main topics of research on disclosures of intangible assets: a critical review. Accounting, Auditing & Accountability Journal, 29(2), 323-356.
- Castilla-Polo, F., & Ruiz-Rodríguez, C. (2017). Content analysis within intangible assets disclosure: a structured literature review, Journal of Intellectual Capital, doi: 10.1108/JIC-11-2016-0123.
- Chen J, Zhu Z, Yuan Xie H. (2004). Measuring intellectual capital: a new model and empirical study. Journal of Intellectual capital. 2004 Mar 1;5(1):195-212.
- Dalirian, A., Moshki, M., Mohammadi Nodeh, F., Khordyar, S. (2019). End to Current Method of Reporting Intangible Assets: The need to start a new approach.
28 / ..... .................................... ....... واکاوی مدل سرمایه فکری در بان کهای دولتی …
Journal of Management Accounting and Auditing Knowledge. 8(32) 273-259. (Persian)
- De-Castro, M., Delgado-Verde, G., López-Sáez, M., & Navas-López, J. E. (2011). Towards an intellectual capital-based view of the firm: origins and nature, Journal of business ethics, 98(4), 649-662.
- Dimitropoulos PE, Koumanakos E. (2015). Intellectual capital and profitability in European football clubs. International Journal of Accounting, Auditing and Performance Evaluation. 11(2):202-20.
- Farazmand, H., Mansouri, SA, Khodayar, S. (2019). Investigating the effect of intellectual capital on maximizing the financial performance of oil affiliated companies in Tehran Stock Exchange, Quantitative Economics Quarterly, 16(1). 98-79. (Persian)
- Herati, M., Peymanizad, H., Talebpour, M., Keshtistar, M., (2019), Designing an economic valuation model of intangible assets of Iranian Premier League handball clubs, Sports management, 12(2), 443-423. (Persian)
- Khalilnejad, Sh; Yousefi Tabas, H., GolMohamadim A., Mohammadi, N. (2019). The Impact of Intellectual Capital on Entrepreneurial and Innovative Trends: Emphasizing the Mediating Role of Dynamic Capabilities, Science and Technology Policy Quarterly, 9(3), 5-15. (Persian)
- Khanjani, S., Alizadeh, H., Noori, A. (2013). Modeling the structural equations of the components of intellectual capital and knowledge management in the country's defense industry, Quarterly Journal of Resource Management in Law Enforcement, 1(3), 127-97. (Persian)
- Madhani, Pankaj M., A. (2018). Study on the Corporate Governance and Disclosure Practices of Tangible Assets and Intangible Assets-Dominated Firms and Their Relationship. The IUP Journal of Corporate Governance, 14(2), 7-29.
- Martínez Torres, M. D. R. (2014). Identification of intangible assets in knowledge based organizations using concept mapping techniques. R&D Management, 44(1), 42-52.
- Mashayekhi, B., Beyrami, H. (2018). Presenting a model for measuring intangible assets in Iran. Financial Accounting Research, 10(3), 68-45. (Persian)
- Mashayekhi, B., Beyrami, H., Beyrami, H. (2014). Determining the value of intangible assets using artificial neural networks, Empirical Accounting Research, 4(14), 238-223. (Persian)
- Mirzaei, H., Sepahvand, R., Nazarpour, A., Ismaili, M. (2017). Design of organizational intangible assets model using structural-interpretive modeling approach. Public Management Perspectives, (31), 125-97. (Persian)
- Mirzaei, H., Sepahvand, R., Nazarpour, A., Ismaili, M. (2017). Identifying and prioritizing the components of organizational intangible assets, Quarterly Journal
فصلنامه مطالعات کمی در مدیریت...................................................................... / 29
of Human Resource Management Research, Imam Hossein University, 9(1), 124-101. (Persian)
- Moghaddam, A. (2017). Methods of Valuing Intangible Assets Intellectual Capital, 3rd International Conference on Management and Accounting Techniques, Tehran. (Persian)
- Nikbakht, M., Dianti Deilami, Z., Momeni, M., Ahmadi, H. (2021). Provide a multi-indicator evaluation model of intellectual capital. Financial Accounting and Auditing Research, 13(49), 30-1. (Persian)
- Nikbakht, M., Pourqorban, A. (2021). Presenting a cost adhesion model based on intellectual capital, Journal of Management Accounting and Auditing Knowledge, 9(33), 141-156. (Persian)
- Rahimi, M., Mohammad Shafi'i, M., Ansari Tadi, A., Batushkan, M. (2020). Presenting a model for ranking intangible assets and brand valuation of companies listed on the Tehran Stock Exchange, Quarterly Journal of Business Research, No. 95, 1-18. (Persian)
- Roos G, Roos J. Measuring your company's intellectual performance. Long range planning. 1997 Jun 1; 30(3):413-26.
- Russell, M. (2016). Capitalization of intangible assets and firm performance. The University of Queensland, 1-67.
- Sánchez, M., Paloma; Elena, Susana. (2006). Intellectual capital in universities Improving transparency and internal management, Journal of Intellectual Capital, 7(3). Pp. 529 - 548 - Sandra Alves and Júlio Martins. (2017). The Impact of Intangible Assets on Financial and Governance Policies: A Simultaneous Equation Analysis. Journal of Applied Finance & Banking, 4(1), 61-89. - Santos, R. H., Dorrego, P. F., & Jardon, C. F. (2010). The influence of human capital on the innovativeness of firms, International Business & Economics Research Journal (IBER), 9(9).101-921. - Soleimani Amiri, Gh., Farmer of Claws, Z., Associate Professor, F. (2021). Investigating the Impact of Intellectual Capital Indices and Information Asymmetry on Stock Portfolio Returns: Growth or Value, Journal of Management Accounting and Auditing Knowledge, 10(38), 181-167. (Persian) - Sufi, H. A., Nusrat, S. (2017). Investigating the effect of intellectual capital on companies' financial vulnerability with structural equation modeling approach, Shabak Scientific Monthly, 3(11), 135-117. (Persian) - Van Criekingen, K., Bloch, C., & Eklund, C. (2021). Measuring intangible assets. A review of the state of the art. Journal of Economic Surveys. - Zahedi, Sh., Rezaeimanesh, B., Islambolchi, A. (2013). Designing a Model for Measuring Intellectual Capital in Governmental Cultural Organizations of Iran,
30 / ..... .................................... ....... واکاوی مدل سرمایه فکری در بان کهای دولتی …
Quarterly Journal of Management of Governmental Organizations, 1(3), 64-43. (Persian) - Zhang XP, Shang RH, Zhang XY. (2013). Managing Intangible Assets of Sports Celebrities in China. InProceedings of 20th International Conference on Industrial Engineering and Engineering Management 2013 (845-855). Springer, Berlin, Heidelberg.
- Zittei, M. V. M., et al. (2018). Analysis of the relation between Intangible Assets and levels of Corporate Governance of listed companies in BM & FBOVESPA. Revista Científica Hermes (14): 91-117.

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منابع
- Ali, B. J., & Anwar, G. (2021). Intellectual capital: A modern model to measure the value creation in a business. International journal of Engineering, Business and Management, 5(2), 31–43.
- Andonova, V., & Pava-Ruíz, G. (2016). The role of industry factors and intangible assets in Colombia. Journal of Business Research, 69(10), 4377-4384.
- Arefumanesh, Z., Rahmani, A. (2015). Presenting a model for valuing intangible assets in companies listed on the Tehran Stock Exchange, Management Accounting Quarterly, 8(26), 112-81. (Persian)
- Aulia, H., Fanani, Z., Prasetyo, K., & Mardijuwono, W. (2015). The impact of intangible asset on firm’s competitive advantage and market value: Empirical Examination from Emerging Market. www.ssrn.com.
- Badiee, H., Ali Akbar, MA, Hosseinzadeh, A. (2021). The Impact of Intangible Asset Value on Profitability, Productivity, Capital Structure, Profit Sharing Policy and Market Value in Exchange and OTC Companies, Accounting and Management Perspectives Quarterly, 4(49), 81-66. (Persian).
- Bakhsha A, Afrazeh A, Esfahanipour A. (2018). Identifying the Variables of Intellectual Capital and Its Dimensions with the Approach of Structural Equations in the Educational Technology of Iran. EURASIA Journal of Mathematics, Science and Technology Education. Jan 1;14(5):1663-82.
- Barker, R., Lennard, A., Penman, S., Teixeira, A. (2021): Accounting for intangible assets: suggested solutions, Accounting and Business Research, DOI: 10.1080/00014788.2021.1938963.
- Bontis N, Fitz-Enz J. (2002). Intellectual capital ROI: a causal map of human capital antecedents and consequents. Journal of Intellectual capital. 2002 Sep 1; 3(3):223-47.
- Brooking A. IC. (1996). Core Asset for the Third Millennium Enterprise. Journal of Intellectual Capital.
- Castilla-Polo, F., & Gallardo-Vázquez, D. (2016). The main topics of research on disclosures of intangible assets: a critical review. Accounting, Auditing & Accountability Journal, 29(2), 323-356.
- Castilla-Polo, F., & Ruiz-Rodríguez, C. (2017). Content analysis within intangible assets disclosure: a structured literature review, Journal of Intellectual Capital, doi: 10.1108/JIC-11-2016-0123.
- Chen J, Zhu Z, Yuan Xie H. (2004). Measuring intellectual capital: a new model and empirical study. Journal of Intellectual capital. 2004 Mar 1;5(1):195-212.
- Dalirian, A., Moshki, M., Mohammadi Nodeh, F., Khordyar, S. (2019). End to Current Method of Reporting Intangible Assets: The need to start a new approach.
28 / ..... .................................... ....... واکاوی مدل سرمایه فکری در بان کهای دولتی …
Journal of Management Accounting and Auditing Knowledge. 8(32) 273-259. (Persian)
- De-Castro, M., Delgado-Verde, G., López-Sáez, M., & Navas-López, J. E. (2011). Towards an intellectual capital-based view of the firm: origins and nature, Journal of business ethics, 98(4), 649-662.
- Dimitropoulos PE, Koumanakos E. (2015). Intellectual capital and profitability in European football clubs. International Journal of Accounting, Auditing and Performance Evaluation. 11(2):202-20.
- Farazmand, H., Mansouri, SA, Khodayar, S. (2019). Investigating the effect of intellectual capital on maximizing the financial performance of oil affiliated companies in Tehran Stock Exchange, Quantitative Economics Quarterly, 16(1). 98-79. (Persian)
- Herati, M., Peymanizad, H., Talebpour, M., Keshtistar, M., (2019), Designing an economic valuation model of intangible assets of Iranian Premier League handball clubs, Sports management, 12(2), 443-423. (Persian)
- Khalilnejad, Sh; Yousefi Tabas, H., GolMohamadim A., Mohammadi, N. (2019). The Impact of Intellectual Capital on Entrepreneurial and Innovative Trends: Emphasizing the Mediating Role of Dynamic Capabilities, Science and Technology Policy Quarterly, 9(3), 5-15. (Persian)
- Khanjani, S., Alizadeh, H., Noori, A. (2013). Modeling the structural equations of the components of intellectual capital and knowledge management in the country's defense industry, Quarterly Journal of Resource Management in Law Enforcement, 1(3), 127-97. (Persian)
- Madhani, Pankaj M., A. (2018). Study on the Corporate Governance and Disclosure Practices of Tangible Assets and Intangible Assets-Dominated Firms and Their Relationship. The IUP Journal of Corporate Governance, 14(2), 7-29.
- Martínez Torres, M. D. R. (2014). Identification of intangible assets in knowledge based organizations using concept mapping techniques. R&D Management, 44(1), 42-52.
- Mashayekhi, B., Beyrami, H. (2018). Presenting a model for measuring intangible assets in Iran. Financial Accounting Research, 10(3), 68-45. (Persian)
- Mashayekhi, B., Beyrami, H., Beyrami, H. (2014). Determining the value of intangible assets using artificial neural networks, Empirical Accounting Research, 4(14), 238-223. (Persian)
- Mirzaei, H., Sepahvand, R., Nazarpour, A., Ismaili, M. (2017). Design of organizational intangible assets model using structural-interpretive modeling approach. Public Management Perspectives, (31), 125-97. (Persian)
- Mirzaei, H., Sepahvand, R., Nazarpour, A., Ismaili, M. (2017). Identifying and prioritizing the components of organizational intangible assets, Quarterly Journal
فصلنامه مطالعات کمی در مدیریت...................................................................... / 29
of Human Resource Management Research, Imam Hossein University, 9(1), 124-101. (Persian)
- Moghaddam, A. (2017). Methods of Valuing Intangible Assets Intellectual Capital, 3rd International Conference on Management and Accounting Techniques, Tehran. (Persian)
- Nikbakht, M., Dianti Deilami, Z., Momeni, M., Ahmadi, H. (2021). Provide a multi-indicator evaluation model of intellectual capital. Financial Accounting and Auditing Research, 13(49), 30-1. (Persian)
- Nikbakht, M., Pourqorban, A. (2021). Presenting a cost adhesion model based on intellectual capital, Journal of Management Accounting and Auditing Knowledge, 9(33), 141-156. (Persian)
- Rahimi, M., Mohammad Shafi'i, M., Ansari Tadi, A., Batushkan, M. (2020). Presenting a model for ranking intangible assets and brand valuation of companies listed on the Tehran Stock Exchange, Quarterly Journal of Business Research, No. 95, 1-18. (Persian)
- Roos G, Roos J. Measuring your company's intellectual performance. Long range planning. 1997 Jun 1; 30(3):413-26.
- Russell, M. (2016). Capitalization of intangible assets and firm performance. The University of Queensland, 1-67.
- Sánchez, M., Paloma; Elena, Susana. (2006). Intellectual capital in universities Improving transparency and internal management, Journal of Intellectual Capital, 7(3). Pp. 529 - 548 - Sandra Alves and Júlio Martins. (2017). The Impact of Intangible Assets on Financial and Governance Policies: A Simultaneous Equation Analysis. Journal of Applied Finance & Banking, 4(1), 61-89. - Santos, R. H., Dorrego, P. F., & Jardon, C. F. (2010). The influence of human capital on the innovativeness of firms, International Business & Economics Research Journal (IBER), 9(9).101-921. - Soleimani Amiri, Gh., Farmer of Claws, Z., Associate Professor, F. (2021). Investigating the Impact of Intellectual Capital Indices and Information Asymmetry on Stock Portfolio Returns: Growth or Value, Journal of Management Accounting and Auditing Knowledge, 10(38), 181-167. (Persian) - Sufi, H. A., Nusrat, S. (2017). Investigating the effect of intellectual capital on companies' financial vulnerability with structural equation modeling approach, Shabak Scientific Monthly, 3(11), 135-117. (Persian) - Van Criekingen, K., Bloch, C., & Eklund, C. (2021). Measuring intangible assets. A review of the state of the art. Journal of Economic Surveys. - Zahedi, Sh., Rezaeimanesh, B., Islambolchi, A. (2013). Designing a Model for Measuring Intellectual Capital in Governmental Cultural Organizations of Iran,
30…
Quarterly Journal of Management of Governmental Organizations, 1(3), 64-43. (Persian) - Zhang XP, Shang RH, Zhang XY. (2013). Managing Intangible Assets of Sports Celebrities in China. InProceedings of 20th International Conference on Industrial Engineering and Engineering Management 2013 (845-855). Springer, Berlin, Heidelberg.
- Zittei, M. V. M., et al. (2018). Analysis of the relation between Intangible Assets and levels of Corporate Governance of listed companies in BM & FBOVESPA. Revista Científica Hermes (14): 91-117.