• The Journal of Asian Finance, Economics and Business
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• v.8 no.4
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• pp.549-561
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• 2021

This study aims to identify the role of organizational behavior and intellectual capital on risk management implementation and Village Credit Institutions (called LPD) performance. The LPD population is 1,256 units spread across nine districts/cities in Bali. This research was conducted at the LPD as the only microfinance institution based on local wisdom in traditional villages in Bali Province, Indonesia. Based on sampling using the Slovin method, there were 139 LPD as sampled in this study. The respondent in this study was the Head of the LPD. LPD performance measurement is using the balanced scorecard method that combines financial and non-financial aspects. This study also investigates risk management's role as a mediator in the relationship between organizational behavior and intellectual capital on the LPD performance. Methods of data collection using a survey. The questionnaire was given to 139 LPD chairman who was respondents in this survey. The data analysis technique used SEM-PLS. This study succeeded in confirming Resource-Based View Theory that organizational behavior and intellectual capital affect risk management and organization performance. These results also prove risk management's role as a mediation for the relationship between organizational behavior and intellectual capital on organizational performance.

• Journal of Technology Innovation
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• v.11 no.1
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• pp.1-27
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• 2003

In the knowledge-based economy, technology valuation of patents, brand name, know-how is presented for as key subject of intangible assets management science. This paper reviews the methods of technology valuation that have been developed by valuation specialists. Also, is talking about the practical application by income approach (DCF) method. The function and role of technology valuation analysts such as the related organizations and the reference of foreign organization is appeared through the examples.

• The Korean Journal of Financial Management
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• v.20 no.1
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• pp.1-27
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• 2003

The purpose of this study is to empirically investigate the role of capitalized intangibles such as patents, copy rights and R&D and non-capitalized intangibles such as advertising expenses and labor-related expenses, which are considered to be important to generating future excess profits, on the valuation of IPO shares. This study examines 125 firms which went public during 1992 - 1998. The result suggests that advertising expenses do not have significant influence on the offer price and the market price of IPO shares. On the other hand, R&D and labor-related expenses play important role in determining the offer price and the market price of IPO shares. In case of capitalized intangible assets, they we important factors in determining the market price but not the of for price. This study suspects that the Securities and Exchange Law of the Korean Securities Exchange Commission potentially contribute to the result of no effect of capitalized intangibles (except R&D) on the offer price by underwriters. According to the Law, any intangible assets which are considered to be irrelevant to the valuation of IPO shares must be exclued. This is very ambiguous and potentially cause underwriters to exclude any intangibles difficult to measure their value. However the market considers capitalized intangibles to be important, as suggested by the result of this study. To reduce this valuation asymmetry, it is important to reveal detailed information regarding the valuation of assets, in particular, intangible assets to the public.

• East Asian Journal of Business Economics (EAJBE)
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• v.2 no.3
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• pp.23-32
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• 2014

Even though Islamic microfinance has flourished in the last two decades, still it faces some problems related to its sustainability and outreach. Market orientation has generally developed some strategies for organizations aiming to retain the current customers and attract new ones. In addition, organizations, which are addressed as Islamic, should be Shariah-compliant in all aspects. This paper introduces the market orientation concept which is adapted to Shariah rules and recommends a solution for sustainability problems of Islamic microfinance institutions. Current study tries to provide some intangible instances and evidences to introduce and use Islamic market orientation concept for Islamic microfinance institutions, in particular.

• KDI Journal of Economic Policy
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• v.37 no.1
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• pp.73-96
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• 2015

Research and innovation are widely agreed to be major driving forces behind long-term productivity and economic growth. However, the relationships have proven to be difficult to quantify. We make reference to the international literature and draw on recent research for Australia to advance our understanding of these relationships. Particular focus is on assessing the impact of publically financed R&D on productivity. The conclusions have implications for government innovation policies, providing insight into possible productivity gains from funding reallocations. Specifically, the findings suggest that government research agencies and higher education are areas in which investment leads to more potential productivity gains.

• Journal of Technology Innovation
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• v.6 no.2
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• pp.159-177
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• 1998

Although each company is trying to develop an economic analysis model with its own particular style or format, the appropriate method is not yet developed because there are many problems to be solved such as uncertainity of outcomes and intangible benefits of technology. The purpose of tris paper therefore is to suggest an economic analysis methodology, which reflects the complexity and the risk of R&D investment, through a case study on the development of a superconductor fault current limiter. A self-developed Monte Carlo simulation program utilized as a main tool in this paper was very useful for risk analysis of R&D investment which could not be solved in the previous DCF(Discounted Cash Flow) model. We also introduce learning effect to consider the intangible benefits such as Know-How obtained from R&D execution. The expected value and its probability distribution for R&D investment can be obtained by combining the Monte Carlo method with the decision tree approach. This result is helpful in judging the priority and the resource-allocation of R&D projects. It is however necessary to develop more precise model for quantifying the technology stock and the simulation program using the continuous probability distribution in expected values to improve the reliability of economic analysis on R&D projects.

• Korean Journal of Organic Agriculture
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• v.17 no.4
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• pp.413-439
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• 2009

This study conducts a survey and test to understand U.S. public's perception about multifunctionality. The questionnaire suggests seven alternative way of providing questions about intangible benefits provided by agriculture in the U.S. The final questionnaire was administered as an e-mail survey in June 2008 to a nationally representative household panel maintained in the U.S. by the Ipsos Observer. Data analysis shows that 64 percent of respondents considered the multifunctionality of agriculiture as an important issue and 45 percent of respondents were in favor of increasing government expenditure to support farmland preservation. Using Fishbein's multi-attribute model as a theoretical background, this paper develops an empirical model to assess and attributes of multifunctionality. For the analysis, bivariate orderd probit model was set up to reflect respondent's attitude. Regression analyses show that two questions (how much you agree with agriculture's intangible benefit and increasing government expenditure to support agriculture) are shaped by different sets of facts.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.4
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• pp.735-740
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• 2021

The purpose of this study is to assess how accounting conservatism is practiced in the Jordanian pharmaceuticals and medical industry. It assesses the association between accounting conservatism and intellectual capital (IC) in this industry. This study measures IC performance using the market price per share less book value. Accounting conservatism is measured using the book-to-price ratio, and the data was collected from company annual reports and the Amman Stock Exchange (ASE) website. The data was collected for the period of six years (2014 to 2019). The sample was made up of four companies in the industry listed in the ASE. The data was analyzed using the SPSS program though the ordinary least squares regression model to assess how accounting conservatism is associated with IC. The findings indicate a negative association with companies having higher IC performance and reporting lower accounting conservatism. IC is applied more in these companies, although it might be lower than in other companies in other sectors. This study provides empirical evidence on how IC is applied in the industry and how it might be negatively associated with accounting conservatism. Findings indicate the need for more effective policies to promote recognition of intangible assets in the sector.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.8
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• pp.715-721
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• 2020

This paper aims to investigate the factors affecting the quality of rural labor in Vietnam, a case study in Thai Nguyen province. For this purpose, we establish an integrated framework of factors affecting the quality of rural labor. We use Fuzzy analytic hierarchy process (Fuzzy-AHP) to assess the weight of the criteria and sub-criteria of rural labor quality. This method introduced by Saaty (1987) is a useful tool to cope with the complexity of decision-making. The Fuzzy-AHP is one of the most common Multi-Criteria Decision-Making instruments for dealing with quantifiable and intangible criteria, which reflect the relative importance of the alternatives based on constructing a pairwise comparison matrix. The results show that the four most weighted factors are institutions, local government policies, technical qualifications, and mentality. In particular, the weight of the institution is the largest (0.2343), meaning that this factor is the most important one affecting the quality of rural labor in Thai Nguyen province. The weight of local government policy is close to that of institution, about 0.2259. The weights of technical qualification and mentality are 0.1238 and 0.1135, respectively. In addition, age and education levels do not significantly affect the rural labor quality of Thai Nguyen province.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.7
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• pp.231-237
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• 2022

Intellectual Capital, a valuable intangible organizational asset, is primarily linked to a company's financial performance and is divided into three categories: human, structural, and relational capital. This paper investigates the impact of intellectual capital on the financial performance of selected Pakistani companies in the Information and Communication sector, as this sector is heavily reliant on intellectual capital. The data for 11 firms was gathered from the State Bank's Financial Statements Analysis of Companies Listed on the Pakistan Stock Exchange from 2015 to 2020. Pulić's (2004) Value Added Intellectual Coefficient (VAICTM) has been used to assess a company's IC efficiency. VAIC^TM and its components, the efficiency of intellectual capital, and the efficiency of capital employed are calculated. Financial performance is measured through return on assets, return on capital employed, and asset turnover ratio. Multiple regression, fixed-effect, and random-effect Panel Data estimation are used in the empirical study. The findings suggest that intellectual capital efficiency has a large impact on major profitability metrics, but little effect on company productivity. It can be inferred from the results that the companies must invest in advanced technology, the latest machinery, and well-equipped offices to improve financial performance and productivity and gain a competitive advantage.