498
Views
0
CrossRef citations to date
0
Altmetric
Financial Economics

The value of intellectual capital in improving MSMEs’ competitiveness, financial performance, and business sustainability

ORCID Icon &
Article: 2325834 | Received 21 Nov 2022, Accepted 27 Feb 2024, Published online: 31 Mar 2024

References

  • Acmad, B. H., & Djaslim, S. (2010). Pengaruh people, physical evidence, product, promotion, price, dan place terhadap tingkat kunjungan di kafe coffee cozies Surabaya. Jurnal Manajemen Pemasaran Petra, 1(2), 1–9.
  • Adeoye, A. O., & Elegunde, A. F. (2012). Impacts of external business environment on organisational performance in the food and beverage industry in Nigeria. British Journal of Arts and Social Sciences, 6(2), 194–201.
  • Agostini, L., Nosella, A., & Filippini, R. (2017). Does intellectual capital allow for improving innovation performance? Quantitative analysis in the SME context. Journal of Intellectual Capital, 18(2), 400–418. https://doi.org/10.1108/JIC-05-2016-0056
  • Ahmed Haji, A., &Mohd Ghazali, N. A. (2012). Intellectual capital disclosure trends: some Malaysian evidence. Journal of Intellectual Capital, 13(3), 377–397. https://doi.org/10.1108/14691931211248927
  • Almulhim, A. F. (2020). Linking knowledge sharing to innovative work behaviour: The role of psychological empowerment. The Journal of Asian Finance, Economics and Business, 7(9), 549–560. https://doi.org/10.13106/jafeb.2020.vol7.no9.549
  • Amel-Zadeh, A., Meeks, G., & Meeks, J. G. (2016). Historical perspectives on accounting for M&A. Accounting and Business Research, 46(5), 501–524. https://doi.org/10.1080/00014788.2016.1182703
  • Amin, S., & Aslam, S. (2017). Intellectual capital, innovation and firm performance of pharmaceuticals: A study of the london stock exchange. Journal of Information & Knowledge Management, 16(02), 1750017. https://doi.org/10.1142/S0219649217500174
  • Amin, S., Usman, M., Sohail, N., & Aslam, S. (2018). Relationship between intellectual capital and financial performance: The moderating role of knowledge assets. Pakistan Journal of Commerce and Social Science, 12(2), 521–547.
  • Andreeva, T., & Garanina, T. (2016). Do all elements of intellectual capital matter for organizational performance? Evidence from Russian context. Journal of Intellectual Capital, 17(2), 397–412. https://doi.org/10.1108/JIC-07-2015-0062
  • Anggraini, F., Ilhamda, T., & N, N. (2020). Peranan intellectual capital dan orientasi kewirausahaan pada usaha kecil dan menengah. Jurnal Benefita, 5(2), 238. https://doi.org/10.22216/jbe.v5i2.5233
  • Ardhiani, M. R., & Nasih, M. (2019). Intellectual capital mediation effect in Indonesia’s banking industries. International Journal of Innovation, Creativity and Change, 9(7), 342–354.
  • Asiaei, K., &Jusoh, R. (2015). A multidimensional view of intellectual capital: the impact on organizational performance. Management Decision, 53(3), 668–697. https://doi.org/10.1108/MD-05-2014-0300
  • Asuquo, A. (2012). International Journal of Scientific & Technology Research, 1(7), 25–33.
  • Beattie, V., & Smith, S. J. (2013). Value creation and business models: Refocusing the intellectual capital debate. The British Accounting Review, 45(4), 243–254. https://doi.org/10.1016/j.bar.2013.06.001
  • Becker, G. (1964). Human Capital, 2nd edn. Columbia University Press, New York.
  • Bratianu, C. (2018). A critical analysis of intellectual capital research in universities. Proceedings of the International Conference on Business Excellence, 12(1), 151–160. https://doi.org/10.2478/picbe-2018-0015
  • Brown-Liburd, H., Cohen, J., & Zamora, V. L. (2018). CSR disclosure items used as fairness heuristics in the investment decision. Journal of Business Ethics, 152(1), 275–289. https://doi.org/10.1007/s10551-016-3307-3
  • Bukair, A. A., & Abdul Rahman, A. (2015). Bank performance and board of directors attribute to Islamic banks. International Journal of Islamic and Middle Eastern Finance and Management, 8(3), 291–309. https://doi.org/10.1108/IMEFM-10-2013-0111
  • Caloghirou, Y., Giotopoulos, I., Korra, E., & Tsakanikas, A. (2017). How do employee training and knowledge stocks affect product innovation? Economics of Innovation and New Technology, 27(4), 343–360. https://doi.org/10.1080/10438599.2017.1362796
  • Capozza, C., & Divella, M. (2019). Human capital and firms’ innovation: Evidence from emerging economies. Economics of Innovation and New Technology, 28(7), 741–757. https://doi.org/10.1080/10438599.2018.1557426
  • Caska, Indrawati., & H., Suarman. (2018). Determinan Inovasi Teknologi Usaha Menengah Kecil dan Mikro (UMKM) Provinsi Riau. Research Report, Universitas Riau Archives, Pekanbaru-Indonesia.
  • Chang, A. Y., & Cheng, Y. T. (2019). Analysis model of the sustainable development of manufacturing small and medium-sized enterprises in Taiwan. Journal of Cleaner Production, 207, 458–473. https://doi.org/10.1016/j.jclepro.2018.10.025
  • Costa, E., Soares, A. L., & De Sousa, J. P. (2016). Information, knowledge and collaboration management in the internationalisation of SMEs: A systematic literature review. International Journal of Information Management, 36(4), 557–569. https://doi.org/10.1016/j.ijinfomgt.2016.03.007
  • Deswanto, R. B., & Siregar, S. V. (2018). The associations between environmental disclosures with financial performance, environmental performance, and firm value. Social Responsibility Journal, 14(1), 180–193. https://doi.org/10.1108/SRJ-01-2017-0005
  • Durst, S., & Ferenhof, H. (2014). Knowledge leakages and ways to reduce them in small and medium-sized enterprises (SMEs). Information, 5(3), 440–450. https://doi.org/10.3390/info5030440
  • Dwivedi, Y. K., Ismagilova, E., Hughes, D. L., Carlson, J., Filieri, R., Jacobson, J., Jain, V., Karjaluoto, H., Kefi, H., Krishen, A. S., Kumar, V., Rahman, M. M., Raman, R., Rauschnabel, P. A., Rowley, J., Salo, J., Tran, G. A., & Wang, Y. (2021). Setting the future of digital and social media marketing research: Perspectives and research propositions. International Journal of Information Management, 59, 102168. https://doi.org/10.1016/j.ijinfomgt.2020.102168
  • Fontana, E., & Egels-Zandén, N. (2019). Non sibi, sed omnibus: Influence of supplier collective behaviour on corporate social responsibility in the bangladeshi apparel supply chain. Journal of Business Ethics, 159(4), 1047–1064. https://doi.org/10.1007/s10551-018-3828-z
  • Gocejna, M. M. (2016). The relationship between corporate social responsibility and corporate financial performance – evidence from empirical studies. Comparative Economic Research, 19(4), 67–84.
  • Gogan, L. M., Artene, A., Sarca, I., & Draghici, A. (2016). The impact of intellectual capital on organizational performance. Procedia - Social and Behavioral Sciences, 221(0), 194–202. https://doi.org/10.1016/j.sbspro.2016.05.106
  • Gomes, G., & Wojahn, R. M. (2017). Organizational learning capability, innovation and performance: A study in small and medium-sized enterprises (SMEs). Revista de Administração,)52(2), 163–175. https://doi.org/10.1016/j.rausp.2016.12.003
  • Hapsoro, D., & Husain, Z. F. (2019). Does sustainability report moderate the effect of financial performance on investor reaction? Evidence of Indonesian listed firms. International Journal of Business, 24(3), 308–328.
  • Hidayat, N. K., Offermans, A., & Glasbergen, P. (2018). Sustainable palm oil as a public responsibility? on The governance capacity of indonesian standard for sustainable palm oil (ISPO). Agriculture and Human Values, 35(1), 223–242. https://doi.org/10.1007/s10460-017-9816-6
  • Hidayat, R., Akhmad, S., & Alim, M. (2015). Effects of environmental factors on corporate strategy and performance of manufacturing industries in Indonesia. Journal of Industrial Engineering and Management, 8(3), 763–782. https://doi.org/10.3926/jiem.1326
  • Holland, J., Henningsson, J., Johanson, U., Koga, C., & Sakakibara, S. (2012). Use of IC information in japanese financial firms. Journal of Intellectual Capital, 13(4), 562–581. https://doi.org/10.1108/14691931211276133
  • Hsu, H. Y. S., & Mykytyn, P. P. (2010). Intellectual capital. Encyclopedia of Knowledge Management, 1(1), 452–461. https://doi.org/10.4018/978-1-59904-931-1.ch043
  • Igielski, M. (2018). The role of intellectual capital in building a competitive advantage for companies from the Baltic sea region in the transport, shipping and logistic industry (TSL). SHS Web of Conferences, 57, 01015. https://doi.org/10.1051/shsconf/20185701015
  • Indrawati, H., Caska, H., & Suarman, H. (2020). Barriers to technological innovations of SMEs: How to solve them? International Journal of Innovation Science, 12(5), 545–564. https://doi.org/10.1108/IJIS-04-2020-0049
  • Ismail, M., Alias, S. N., & Rasdi, R. M. (2015). Community as stakeholder of the corporate social responsibility programme in Malaysia: Outcomes in community development. Social Responsibility Journal, 11(1), 109–130. https://doi.org/10.1108/SRJ-05-2013-0053
  • Jain, N. K., Kamboj, S., Kumar, V., & Rahman, Z. (2018). Examining consumer-brand relationships on social media platforms. Marketing Intelligence & Planning, 36(1), 63–78. https://doi.org/10.1108/MIP-05-2017-0088
  • Jaya, I. M. L. M. (2020). Metode Penelitian Kuantitatif dan Kualitatif: Teori, Penerapan, dan Riset Nyata, V. Wiratna Sujarweni, Ed., 1st ed. http://www.anakhebatindonesia.com/author-i-made-laut-mertha-jaya-606.html and http://www.anakhebatindonesia.com/author-i-made-laut-mertha-jaya-606.html
  • Jordão, R. V. D., & Novas, J. C. (2017). Knowledge management and intellectual capital in networks of small-and medium-sized enterprises. Journal of Intellectual Capital, 18(3), 667–692. https://doi.org/10.1108/JIC-11-2016-0120
  • Krasniqi, F. X., & Topxhiu, R. M. (2016). The importance of investment in human capital: Becker, Schultz, and Hekcman. Journal of Knowledge Management, Economics, and Information Technology, 6(4), 1–18.
  • Lentjušenkova, O., & Lapina, I. (2016). The transformation of the organization’s intellectual capital: From resource to capital. Journal of Intellectual Capital, 17(4), 610–631. https://doi.org/10.1108/JIC-03-2016-0031
  • Likert, R. (1932). Technique for the measurement of attitudes. Archives of Psychology, 140(22), 1–55.
  • Malesev, S., & Cherry, M. (2021). Digital and social media marketing-growing market share for construction SMEs. Construction Economics and Building, 21(1), 65–82. https://doi.org/10.5130/AJCEB.v21i1.7521
  • Manning, P. (2010). Explaining and developing social capital for knowledge management purposes. Journal of Knowledge Management, 14(1), 83–99. https://doi.org/10.1108/13673271011015589
  • Matos, F., Vairinhos, V., Selig, P. M., & Edvinsson, L. (2018). Intellectual capital management as a driver of sustainability: Perspectives for organizations and society. Intellectual Capital Management as a Driver of Sustainability: Perspectives for Organizations and Society, Springer. https://doi.org/10.1007/978-3-319-79051-0
  • Mention, A. L., & Bontis, N. (2013). Intellectual capital and performance within the banking sector of Luxembourg and Belgium. Journal of Intellectual Capital, 14(2), 286–309. https://doi.org/10.1108/14691931311323896
  • Mills, A. M., & Smith, T. A. (2011). Knowledge management and organizational performance: A decomposed view. Journal of Knowledge Management, 15(1), 156–171. https://doi.org/10.1108/13673271111108756
  • Moustaghfir, K., Schiuma, G., Moustaghfir, K., Schiuma, G., & Schiuma, G. (2013). Knowledge, learning, and innovation: Research and perspectives. Journal of Knowledge Management, 17(4), 495–510. https://doi.org/10.1108/JKM-04-2013-0141
  • Muchran. (2020). Effect of intellectual capital on the sustainable financial performance of indonesian pharmaceutical firms with moderating role knowledge management. Systematic Reviews in Pharmacy, 11(1), 203–212. https://doi.org/10.5530/srp.2020.1.27
  • Nemati, A. R., Bhatti, A. M., Maqsal, M., Mansoor, I., & Naveed, F. (2010). Impact of resource based view and resource dependence theory on strategic decision making. International Journal of Business and Management, 5(12), 110–115. https://doi.org/10.5539/ijbm.v5n12p110
  • Ogston, S. A., Lemeshow, S., Hosmer, D. W., Klar, J., & Lwanga, S. K. (1991). Adequacy of sample size in health studies. Biometrics, 47(1), 347. https://doi.org/10.2307/2532527
  • Razafindrambinina, D., & A, S. (2014). The impact of strategic corporate social responsibility on operating performance: an investigation using data envelopment analysis in Indonesia annisa sabran - marketing management, prasetiya mulya business school. Journal of Business Studies Quarterly, 6(1), 1–12.
  • Ruiz-Real, J. L.,Uribe-Toril, J.,Torres, J. A., &De Pablo, J. (2020). Artificial intelligence in business and economics research: Trends and future. Journal of Business Economics and Management, 22(1), 98–117. https://doi.org/10.3846/jbem.2020.13641
  • Sakr, A. g., A. (2017). The relationship between corporate social responsibility and corporate financial performance in Korea. International Journal of Business and Economic Development, 5(2), 59–73. https://doi.org/10.1080/1540496X.2015.1039903
  • Sardo, F., & Serrasqueiro, Z. (2017). A European empirical study of the relationship between firms’ intellectual capital, financial performance and market value. Journal of Intellectual Capital, 18(4), 771–788. https://doi.org/10.1108/MRR-09-2015-0216
  • Sari, N. P. (2020). Pengaruh modal intelektual terhadap kinerja bisnis pada UKM di Kabupaten Sidoarjo (Studi Empiris pada UKM di Bidang Industri). Jurnal Akuntansi Unesa, 8(3), 1–8.
  • Saunila, M. (2014). Innovation capability for SME success: Perspectives of financial and operational performance. Journal of Advances in Management Research, 11(2), 163–175. https://doi.org/10.1108/JAMR-11-2013-0063
  • Schneider, A. (2015). Reflexivity in sustainability accounting and management: Transcending the economic focus of corporate sustainability. Journal of Business Ethics, 127(3), 525–536. https://doi.org/10.1007/s10551-014-2058-2
  • Serenko, A., Hardie, T., Bontis, N., Booker, L., & Sadeddin, K. (2010). A Scientometric analysis of knowledge management and intellectual capital academic literature (1994-2008). Journal of Knowledge Management, 14(1), 3–23. https://doi.org/10.1108/13673271011015534
  • Shen, F., Ma, Y., Wang, R., Pan, N., & Meng, Z. (2019). Does environmental performance affect financial performance? Evidence from Chinese listed companies in heavily polluting industries. Quality & Quantity, 53(4), 1941–1958. https://doi.org/10.1007/s11135-019-00849-x
  • Shih, K. H., Chang, C. J., & Lin, B. (2010). Assessing knowledge creation and intellectual capital in banking industry. Journal of Intellectual Capital, 11(1), 74–89. https://doi.org/10.1108/14691931011013343
  • Shokri, S., Nazari, K., & Akbari, P. (2017). Analysis of the impact of human resources management, intellectual capital, organizational entrepreneurship on organizational performance. Iranian Journal of Educational Sociology, 1(5), 194–202.
  • Singh, S., Olugu, E. U., & Musa, S. N. (2016). Development of sustainable manufacturing performance evaluation expert system for small and medium enterprises. Procedia CIRP, 40, 608–613. https://doi.org/10.1016/j.procir.2016.01.142
  • Soewarno, N., & Tjahjadi, B. (2020). Mediating effect of strategy on competitive pressure, stakeholder pressure and strategic performance management (SPM): Evidence from HEIs in Indonesia. Benchmarking: An International Journal, 27(6), 1743–1764. https://doi.org/10.1108/BIJ-06-2019-0292
  • Suseno, N. S., Hermina, T., Ramdhani, A., & Utari, L. (2019). The impact of intellectual capital on financial performance. International Journal of Recent Technology and Engineering, 8(1), 359–365.
  • Sydler, R.,Haefliger, S., &Pruksa, R. (2014). Measuring intellectual capital with financial figures: Can we predict firm profitability?. European Management Journal, 32(2), 244–259. https://doi.org/10.1016/j.emj.2013.01.008
  • Thijssens, T., Bollen, L., & Hassink, H. (2015). Secondary stakeholder influence on CSR disclosure: An application of stakeholder salience theory. Journal of Business Ethics, 132(4), 873–891. https://doi.org/10.1007/s10551-015-2623-3
  • Tomarken, A. J., & Waller, N. G. (2005). Structural equation modeling: Strengths, limitations, and misconceptions. Annual Review of Clinical Psychology, 1(1), 31–65. https://doi.org/10.1146/annurev.clinpsy.1.102803.144239
  • Wheelen, T., & Hunger, J. (2012). Strategic management and business policy. http://books.google.com/books?id=J8YGhhK5keUC&pgis=1
  • Widyatini, I. R. (2019). Financial inclusion for economic sustainability through the implementation of good corporate governance. Review of Integrative Business and Economics Research, 8(3), 122–130. Retrieved from https://search.proquest.com/docview/2236122130?accountid=17242
  • Zaied, A. N. H. (2012). An integrated knowledge management capabilities framework for assessing organizational performance. International Journal of Information Technology and Computer Science, 4(2), 1–10. https://doi.org/10.5815/ijitcs.2012.02.01
  • Zhicheng, L., Zhuoer, C., Shing, L. T. T., & Wah, C. S. K. (2016). The impact of intellectual capital on companies’ performances: A study based on make award winners and non-make award winner companies. Procedia Computer Science, 99, 181–194. https://doi.org/10.1016/j.procs.2016.09.110
  • Zulaikha, & Fredianto, R. (2003). Hubungan Antara Lingkungan Eksternal, Orientasi Strategik dan Kinerja Perusahaan (Studi Empiris pd Industri Manufaktur Menengah-Kecil di Kota Semarang). Jurnal Ekonomi Dan Bisnis (JEBI), 6(1), 1–10.