Commerce and Management
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Item The Mediating Effect of Knowledge Management on Intellectual Capital and Value Creation: Evidence from Sri Lanka(Faculty of Commerce and Management Studies, University of Kelaniya., 2023) Karunarathne, W. V. A. D.; Weligamage, S. S.; Wanigasekara, W. A. D. K. J.This paper aims to investigate the impact of Intellectual Capital on Value Creation mediated through Knowledge Management in Sri Lankan companies. The ‘static’ and the ‘dynamic’ aspect of knowledge and the theoretical models, which are based on the relationship between Intellectual Capital and Knowledge Management forced the authors to address this research problem. The study was based on the top corporate personnel’s views collected through a self-administered questionnaire. Out of 297 Public Listed Companies listed on Colombo Stock Exchange and 517 private companies registered in Ceylon Chamber of Commerce, 263 companies were selected as the sample. Value creation was measured through both non-financial value drivers and financial value drivers, which was an innovative feature of this study. The data was analyzed using multivariate analysis through Partial Least Square Structural Equation Modeling. The findings confirmed a partial mediation of knowledge management. Further, findings revealed a significant and positive impact of intellectual capital on value creation and a significant positive impact of intellectual capital on knowledge management. The impact of knowledge management on value creation was also a significant positive one.Item The Impact of Intellectual Capital on Firm’s Market Value and Financial Performance(4th International Conference for Accounting Researchers and Educators, Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2018) Ganegoda, G.P.S.K.; Karunarathna, W.V.A.D.Intellectual capital has a huge impact on the firms’ value creation process and it will also generate competitive advantage to the organization with the development of knowledge based economy. The study aims to identify the impact of intellectual capital on firm’s market value and financial performance of the bank, finance and insurance sector and manufacturing sector in Sri Lanka. Return on asset and market to book value are separately used as dependent variables. The Value Added Intellectual Coefficient (VAIC) method introduced by Pulic (2000) is used to measure the intellectual capital of the firm. The study used secondary data of 15 bank, finance and insurance sector companies and 15 manufacturing sector companies covering the period of 2012 to 2017. Data were analyzed using linear regression model and used E-Views software to perform statistical tests. The results revealed that intellectual capital significantly impact to the firm’s financial performance in bank, finance and insurance sector. However, according to the results there was no significant impact of intellectual capital on firm’s financial performance in manufacturing sector. Furthermore, intellectual capital has no significant impact on firm’s market value in both sectorsItem Intellectual Capital Disclosure Practices: Evidence from Banking Industry in Sri Lanka(Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2016) Almeida, H.V.; Weligamage, S.Intellectual capital (IC) is recognized as a strategic asset which gives competitive advantages by driving organizations for superior performance in the modern day knowledge-based economies. Traditionally, tangible assets have been considered as significant in the process of value creation, whilst, intangible assets have not been recognized as equally important. The IC, knowledge related intangible assets in its existence have become more important than physical assets during the last two decades. However, in developing nations there can be seen very less amount of IC studies that have been carried out in comparison to the developed nations. Having identified the usage of IC as a strategic asset in modern day business and recent developments in the field of knowledge-related intangible assets, the prospective value and at the same time importance of research on IC can be understood. Therefore, a study which is ground in other than the IC disclosures in the context of Sri Lanka is timely needed. The objectives of the study are to identify the reporting trend in IC disclosure practices in licensed commercial banks in Sri Lanka and to examine the differences in the disclosure of intellectual capital among licensed commercial banks in Sri Lanka over the period of 2010 to 2015. The study is based on data drawn from 25 listed licensed commercial banks in Sri Lanka in the period of 2010 and 2015 and collected from published annual reports of the licensed commercial banks. Content analysis method was adapted to analyze the data and recorded using the framework identified through literature.Item THE IMPACT OF INTELLECTUAL CAPITAL ON THE FIRM PERFORMANCE AND INVESTOR RESPONSE: AN EMPIRICAL STUDY OF SELECTED SECTORS IN COLOMBO STOCK EXCHANGE(2010) Kehelwalatenna, S.; Gunaratne, P.S.M.Intellectual capital (IC) is recognized as a strategic asset which gives competitive advantages by driving organizations for superior performance in the modern day knowledge-based economies. The purpose of this study is to investigate, empirically, the relation between IC, and firm performance and the response of investors. In this respect, the study has been conducted using data drawn for 2002 to 2006 from listed financial services and manufacturing sector firms in Sri Lanka. The Pulic?s Value Added Intellectual Coefficient (VAIC) has been employed to measure the IC together with the measurements of value creation efficiencies of capital employed, human capital, and structural capital of selected firms. The researchers use the Pearson?s correlation analysis and construct regression models to investigate the said relationships. Results of the main analysis show that IC is positively associated with firm performance, and investor response. In addition, it is found that the level of importance placed by investors on three components of value creation efficiencies (physical capital, human capital, and structural capital) has not been uniform. Moreover, the results of the extended analyses further confirm some of the above associations with few exceptions. The study is novel and original in its approach to determine the value addition in the VAIC model. In this regard, current study brings the assumptions of the stewardship theory in alternative to both economic value addition and value addition according to the stakeholder theory. Moreover, the results may extend in understanding the role of IC in creating corporate value and building sustainable advantages for companies in developing countries as the findings in developed economies and emerging economies cannot be generalized to developing nations, since country-specific factors and technological advancements influence significantly in determining the level of IC.