Crescimento da rentabilidade sobre o ativo |
ΔROAt+1
|
Explicada |
Variação da razão entre lucro líquido e ativo total em t + 1 |
Janošević et al. (2013)Janošević, S., Dženopoljac, V., & Bontis, N. (2013). Intellectual capital and financial performance in Serbia. Knowledge and Process Management, 20(1), 1–11. https://doi.org/10.1002/kpm.1404 https://doi.org/10.1002/kpm.1404...
, Nadeem et al. (2018)Nadeem, M., Gan, C., & Nguyen, C. (2018). The importance of intellectual capital for firm performance: Evidence from Australia. Australian Accounting Review, 28(3), 334–344. https://doi.org/10.1111/auar.12184 https://doi.org/10.1111/auar.12184...
e Cao et al. (2011)Cao, Y., Myers, L. A., & Sougiannis, T. (2011). Does earnings acceleration convey information? Review of Accounting Studies, 16(4), 812–842. https://doi.org/10.1007/s11142-011-9150-y https://doi.org/10.1007/s11142-011-9150-...
|
Não se aplica |
Crescimento da rentabilidade sobre o patrimônio |
ΔROEt+1
|
Explicada |
Razão entre lucro líquido e patrimônio líquido em t + 1 |
Janošević et al. (2013)Janošević, S., Dženopoljac, V., & Bontis, N. (2013). Intellectual capital and financial performance in Serbia. Knowledge and Process Management, 20(1), 1–11. https://doi.org/10.1002/kpm.1404 https://doi.org/10.1002/kpm.1404...
, Nadeem et al. (2018)Nadeem, M., Gan, C., & Nguyen, C. (2018). The importance of intellectual capital for firm performance: Evidence from Australia. Australian Accounting Review, 28(3), 334–344. https://doi.org/10.1111/auar.12184 https://doi.org/10.1111/auar.12184...
e Cao et al. (2011)Cao, Y., Myers, L. A., & Sougiannis, T. (2011). Does earnings acceleration convey information? Review of Accounting Studies, 16(4), 812–842. https://doi.org/10.1007/s11142-011-9150-y https://doi.org/10.1007/s11142-011-9150-...
|
Não se aplica |
Crescimento do capita intelectua |
VAIC
|
Explicativa |
Soma do ECH, ECl e ECE |
Pulic (1998Pulic, A. (1998). Measuring the performance of intellectual potential in knowledge economy. 2nd McMaster Word Congress on Measuring and Managing Intellectual Capital by the Austrian Team for Intellectual Potential. https://doi.org/10.6007/ijarbss/v8-i9/4607 https://doi.org/10.6007/ijarbss/v8-i9/46...
, 2000Pulic, A. (2000). VAIC™ – an accounting tool for IC management. International Journal of Technology Management, 20(5–8), 702–714. https://doi.org/10.1504/ijtm.2000.002891 https://doi.org/10.1504/ijtm.2000.002891...
, 2004Pulic, A. (2004). Intellectual capital: does it create or destroy value? Measuring Business Excellence, 8(1), 62–68. https://doi.org/10.1108/13683040410524757 https://doi.org/10.1108/1368304041052475...
) |
+ |
Investimento em capita humanc |
ECH
|
Explicativa |
Razão entre valor adicionado bruto e gasto com pessoal |
Pulic (1998Pulic, A. (1998). Measuring the performance of intellectual potential in knowledge economy. 2nd McMaster Word Congress on Measuring and Managing Intellectual Capital by the Austrian Team for Intellectual Potential. https://doi.org/10.6007/ijarbss/v8-i9/4607 https://doi.org/10.6007/ijarbss/v8-i9/46...
, 2000Pulic, A. (2000). VAIC™ – an accounting tool for IC management. International Journal of Technology Management, 20(5–8), 702–714. https://doi.org/10.1504/ijtm.2000.002891 https://doi.org/10.1504/ijtm.2000.002891...
, 2004Pulic, A. (2004). Intellectual capital: does it create or destroy value? Measuring Business Excellence, 8(1), 62–68. https://doi.org/10.1108/13683040410524757 https://doi.org/10.1108/1368304041052475...
) |
+ |
Capital investido |
ECI
|
Explicativa |
Razão entre valor adicionado e patrimônio Iíquido |
Pulic (1998Pulic, A. (1998). Measuring the performance of intellectual potential in knowledge economy. 2nd McMaster Word Congress on Measuring and Managing Intellectual Capital by the Austrian Team for Intellectual Potential. https://doi.org/10.6007/ijarbss/v8-i9/4607 https://doi.org/10.6007/ijarbss/v8-i9/46...
, 2000Pulic, A. (2000). VAIC™ – an accounting tool for IC management. International Journal of Technology Management, 20(5–8), 702–714. https://doi.org/10.1504/ijtm.2000.002891 https://doi.org/10.1504/ijtm.2000.002891...
, 2004Pulic, A. (2004). Intellectual capital: does it create or destroy value? Measuring Business Excellence, 8(1), 62–68. https://doi.org/10.1108/13683040410524757 https://doi.org/10.1108/1368304041052475...
) |
+ |
Investimento em capita estrutura |
ECE
|
Explicativa |
Razão do valor adicionado subtraído do gasto com pessoal e valor adicionado |
Pulic (1998Pulic, A. (1998). Measuring the performance of intellectual potential in knowledge economy. 2nd McMaster Word Congress on Measuring and Managing Intellectual Capital by the Austrian Team for Intellectual Potential. https://doi.org/10.6007/ijarbss/v8-i9/4607 https://doi.org/10.6007/ijarbss/v8-i9/46...
, 2000Pulic, A. (2000). VAIC™ – an accounting tool for IC management. International Journal of Technology Management, 20(5–8), 702–714. https://doi.org/10.1504/ijtm.2000.002891 https://doi.org/10.1504/ijtm.2000.002891...
, 2004Pulic, A. (2004). Intellectual capital: does it create or destroy value? Measuring Business Excellence, 8(1), 62–68. https://doi.org/10.1108/13683040410524757 https://doi.org/10.1108/1368304041052475...
) |
+ |
Tamanho da empresa |
Tamanho |
Controle |
Ln do ativo tota |
Firer e Williams (2003)Firer, S., & Williams, S. M. (2003). Intellectual capital and traditional measures of corporate performance. Journal of Intellectual Capital, 4(3), 348–360. https://doi.org/10.1108/14691930310487806 https://doi.org/10.1108/1469193031048780...
, Riahi-Belkaoui (2003)Riahi-Belkaoui, A. (2003). Intellectual capital and firm performance of US multinational firms: A study of the resource-based and stakeholder views. Journal of Intellectual Capital, 4(2), 215–226. https://doi.org/10.1108/14691930310472839 https://doi.org/10.1108/1469193031047283...
e Hsu e Sabherwal (2012)Hsu, I. C., & Sabherwal, R. (2012). Relationship between intellectual capital and knowledge management: An empirical investigation. Decision Sciences, 43(3), 489–524. https://doi.org/10.1111/j.1540-5915.2012.00357.x https://doi.org/10.1111/j.1540-5915.2012...
|
+ |
Alavancagem da empresa |
Alavancagem |
Controle |
Razão entre dívida e ativo total |
Firer e Williams (2003)Firer, S., & Williams, S. M. (2003). Intellectual capital and traditional measures of corporate performance. Journal of Intellectual Capital, 4(3), 348–360. https://doi.org/10.1108/14691930310487806 https://doi.org/10.1108/1469193031048780...
|
+/− |
Concentração acionária da empresa |
Concentração acionária |
Controle |
Percentual de controle do acionista majoritário |
Heugens et al. (2009)Heugens, P. P., Van Essen, M., & Van Oosterhout, J. H. (2009). Meta-analyzing ownership concentration and firm performance in Asia: Towards a more fine-grained understanding. Asia Pacific Journal of Management, 26(3), 481–512. http://dx.doi.org/10.1007/s10490-008-9109-0 http://dx.doi.org/10.1007/s10490-008-910...
e Wang e Shailer (2015)Wang, K., & Shailer, G. (2015). Ownership concentration and firm performance in emerging markets: A meta-analysis. Journal of Economic Surveys, 29(2), 199–229. https://doi.org/10.1111/joes.12048 https://doi.org/10.1111/joes.12048...
|
− |
Market-to-book da empresa |
Market-book
|
Controle |
Valor de mercado sobre patrimônio líquido |
Firer e Williams (2003)Firer, S., & Williams, S. M. (2003). Intellectual capital and traditional measures of corporate performance. Journal of Intellectual Capital, 4(3), 348–360. https://doi.org/10.1108/14691930310487806 https://doi.org/10.1108/1469193031048780...
|
+ |
Idade da empresa |
Log_Idade |
Controle |
dade das empresas |
Yazdanfar (2013)Yazdanfar, D. (2013). Profitability determinants among micro firms: Evidence from Swedish data. International Journal of Managerial Finance, 9(2), 151–160. https://doi.org/10.1108/17439131311307565 https://doi.org/10.1108/1743913131130756...
|
+ |