Title: Performance of intellectual capital during pre and post crisis: a study of S&P CNX 500 companies
Authors: Sushila Soriya
Addresses: Department of Commerce, School of Commerce and Management, Central University of Rajasthan, Ajmer – 305817, Rajasthan, India
Abstract: The study is carried out to examine the relationship of intellectual capital components with market performance measured by Tobin's q, market to book value and earning per share in India. Research sample consists of listed companies under S&P CNX 500 Index. Time period has been divided into two major segments as pre and post crisis period. Results implied that CEE was not significantly associated with any of the market valuation performance in both pre and post crisis period. Human capital was negatively associated with the Tobin's q and MB although it is not explaining EPS of the firms. Advertisement and research and development was positively associated with Tobin's q and MB but not positively related with EPS. Increasing consciousness about intellectual capital is not replicated in the market performance of the companies. Present study tries to aware the academicians and managers about the association of intellectual capital and market performance of the companies.
Keywords: intellectual capital; Tobin's q; market valuation; India; firm performance.
International Journal of Learning and Intellectual Capital, 2019 Vol.16 No.4, pp.399 - 419
Accepted: 12 Mar 2019
Published online: 30 Sep 2019 *