Title: Impact of shareholders' identity on intellectual capital performance: evidence from Tunisian manufacturing companies

Authors: Jamel Chouaibi; Amel Kouaib

Addresses: Department of Accounting, Faculty of Economics and Management of Sfax, University of Sfax, Airport Road km 4, 3018, Sfax, Tunisia ' Department of Accounting, Faculty of Economics and Management of Sfax, University of Sfax, Airport Road km 4, 3018, Sfax, Tunisia

Abstract: The main purpose of this study is to investigate the association between Intellectual Capital Performance (ICP) and ownership structure as an internal corporate governance mechanism. Data are drawn from a sample of 80 manufacturing Tunisian companies divided into nine sectors. These companies are listed and unlisted in the Tunis Stock Exchange for the 2010 fiscal year. Empirical analysis is conducted using linear multiple regression analysis in which Value-Added Intellectual Coefficient (VAIC) was selected to measure ICP. Findings from the empirical analysis revealed that both managerial ownership and ownership concentration have a positive impact on ICP, while institutional ownership has no significant effect on VAIC.

Keywords: shareholder identity; agency theory; intellectual capital performance; ownership structure; corporate governance; value-added intellectual coefficient; VAIC; Tunisia; manufacturing industry; managerial ownership; ownership concentration; institutional ownership.

DOI: 10.1504/IJMFA.2015.074903

International Journal of Managerial and Financial Accounting, 2015 Vol.7 No.3/4, pp.246 - 267

Received: 18 Dec 2014
Accepted: 27 Nov 2015
Published online: 23 Feb 2016 *

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