Intellectual capital efficiency and financial performance in the hotel sector
by José António Fernandes Lopes Oliveira Vale; Vera Cristina Fontes Teixeira Vale; Vânia Sofia Castro Lopes
International Journal of Learning and Intellectual Capital (IJLIC), Vol. 19, No. 1, 2022

Abstract: In the current knowledge age, intellectual capital (IC) is crucial to create competitive advantages for organisations, something that has been leading to studies about its impact on the financial performance of organisations of different sectors of activity. However, when regarding the hotel sector, this topic is underexplored. This paper aims to understand the relationship between intellectual capital's efficiency and the financial performance of micro, medium, and small-sized Portuguese companies pertaining to the hotel sector. The results suggest a positive and significant relationship between VAIC and hotels' financial performance. More specifically, human capital efficiency and capital-employed efficiency are the most important and statistically significant dimensions, which impact such performance, regardless of the companies' size. This study is not without its limitations. The used methodology (VAIC) does not take into account the traditional taxonomy of IC, i.e., human capital (HC), structural capital (SC) and relational capital (RC).

Online publication date: Tue, 30-Nov-2021

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