Does Digital Transformation Moderate the Effect of Intellectual Capital on Firm Performance?

IF 4 3区经济学 Q1 ECONOMICS Journal of the Knowledge Economy Pub Date : 2024-08-16 DOI:10.1007/s13132-024-02270-8

Duc Hong Vo, Ngoc Phu Tran

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Abstract

This study examines the independent and joint effects of digital transformation and intellectual capital on firm performance in the Vietnamese context. We utilize data from the annual reports of 118 publicly listed Vietnamese firms from 2011 to 2021. Intellectual capital is measured using the modified value-added intellectual coefficient (MVAIC) model, and the generalized method of moments is employed. In addition, we use the threshold regression estimator to examine these effects at varying levels of intellectual capital. Our results indicate that intellectual capital enhances firm performance, whereas digital transformation negatively affects firm performance in Vietnam. However, when digital transformation is implemented together with investing in intellectual capital, their joint effect positively contributes to firm performance. We also find that the positive impact of digital transformation on firm performance is more pronounced when intellectual capital is high. These findings offer valuable insights for executives and policymakers on effectively leveraging intellectual capital and managing digital transformation to support firm performance in Vietnam.

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数字化转型是否会调节智力资本对企业绩效的影响？

本研究探讨了数字化转型和智力资本对越南企业绩效的独立和联合影响。我们利用了 118 家越南上市公司 2011 年至 2021 年的年报数据。智力资本使用修正的智力增值系数（MVAIC）模型进行衡量，并采用广义矩方法。此外，我们还使用了阈值回归估计器来考察不同智力资本水平下的这些效应。我们的研究结果表明，在越南，智力资本提高了企业绩效，而数字化转型则对企业绩效产生了负面影响。然而，当数字化转型与智力资本投资同时实施时，它们的共同效应会对企业绩效产生积极的促进作用。我们还发现，当智力资本较高时，数字化转型对企业绩效的积极影响更为明显。这些发现为管理人员和政策制定者有效利用知识资本和管理数字化转型以支持越南企业绩效提供了宝贵的见解。

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来源期刊

Journal of the Knowledge Economy ECONOMICS-

CiteScore

5.90

自引率

27.30%

发文量

228

期刊介绍： In the context of rapid globalization and technological capacity, the world’s economies today are driven increasingly by knowledge—the expertise, skills, experience, education, understanding, awareness, perception, and other qualities required to communicate, interpret, and analyze information. New wealth is created by the application of knowledge to improve productivity—and to create new products, services, systems, and process (i.e., to innovate). The Journal of the Knowledge Economy focuses on the dynamics of the knowledge-based economy, with an emphasis on the role of knowledge creation, diffusion, and application across three economic levels: (1) the systemic ''meta'' or ''macro''-level, (2) the organizational ''meso''-level, and (3) the individual ''micro''-level. The journal incorporates insights from the fields of economics, management, law, sociology, anthropology, psychology, and political science to shed new light on the evolving role of knowledge, with a particular emphasis on how innovation can be leveraged to provide solutions to complex problems and issues, including global crises in environmental sustainability, education, and economic development. Articles emphasize empirical studies, underscoring a comparative approach, and, to a lesser extent, case studies and theoretical articles. The journal balances practice/application and theory/concepts.