International Business Management

Year: 2017
Volume: 11
Issue: 11
Page No. 1871 - 1881

An Analysis of Mediating Effect of Intellectual Capital Linking Board of Director and Firm Performance: Empirical Evidence from Thai Listed Companies

Authors : Thanapin Attarit, Kusuma Dampitakse and Panarat Panmanee

References

Abdullah, S., K. Ismail, K.N. Izah and L. Nachum, 2012. Women on boards of Malaysian firms: Impact on market and accounting performance. BBA Thesis, Department of Marketing and International Business, Pullman, Washington.

Abidin, Z.Z., N.M. Kamal and K. Jusoff, 2014. Board structure and corporate performance in Malaysia. Int. J. Econ. Finance, 1: 150-164.
Direct Link  |  

Adams, R., B.E. Hermalin and M.S. Weisbach, 2010. The role of boards of directors in corporate governance: A conceptual framework and survey. J. Econ. Literat., 48: 58-107.
CrossRef  |  Direct Link  |  

Al-Matari, Y.A., A.K. Al-Swidi, F.H.B. Fadzil, H. Fadzil and E.M. Al-Matari, 2012. Board of directors, audit committee characteristics and the performance of Saudi Arabia listed companies. Intl. Rev. Manage. Marketing, 2: 241-251.
Direct Link  |  

Al-Musalli, M.A.K. and K.N.I.K. Ismail, 2012. Intellectual capital performance and board characteristics of GCC banks. Procedia Econ. Finance, 2: 219-226.
Direct Link  |  

Anderson, R.C., S.A. Mansi and D.M. Reeb, 2004. Board characteristics, accounting report integrity and the cost of debt. J. Account. Econ., 37: 315-342.
CrossRef  |  Direct Link  |  

Appuhami, R. and M. Bhuyan, 2015. Examining the influence of corporate governance on intellectual capital efficiency: Evidence from top service firms in Australia. Managerial Auditing J., 30: 347-372.
CrossRef  |  Direct Link  |  

Azam, M.N., M.Z. Hoque and M. Yeasmin, 2010. Audit committee and equity return: The case of Australian firms. Intl. Rev. Bus. Res. Pap., 6: 202-208.
Direct Link  |  

Baron, R.M. and D.A. Kenny, 1986. The moderator-mediator variable distinction in social psychological research: Conceptual, strategic and statistical considerations. J. Pers. Social Psychol., 51: 1173-1182.
CrossRef  |  PubMed  |  Direct Link  |  

Berzkalne, I. And E. Zelgalve, 2014. Intellectual capital and company value. Procedia Social Behav. Sci., 110: 887-896.
Direct Link  |  

Brick, I.E. and N.K. Chidambaran, 2010. Board meetings, committee structure and firm value. J. Corporate Finance, 16: 533-553.
Direct Link  |  

Butt, S.A., 2012. Corporate Governance for Pakistan. Azeem Academy Publishers, Lahore, Pakistan,.

Carter, D.A., B.J. Simkins and W.G. Simpson, 2003. Corporate governance, board diversity and firm value. Financial Rev., 38: 33-53.

Cerbioni, F. and A. Parbonetti, 2007. Exploring the effects of corporate governance on intellectual capital disclosure: An analysis of European biotechnology companies. Eur. Account. Rev., 16: 791-826.

Chen, M.C., S.J. Cheng and Y. Hwang, 2005. An empirical investigation of the relationship between intellectual capital and firms' market value and financial performance. J. Intell. Capital, 6: 159-176.
CrossRef  |  Direct Link  |  

Cheng, S., 2008. Board size and the variability of corporate performance. J. Financial Econ., 87: 157-176.
CrossRef  |  

Connelly, J.T., P. Limpaphayom and N.J. Nagarajan, 2012. Form versus substance: The effect of ownership structure and corporate governance on firm value in Thailand. J. Banking Finance, 36: 1722-1743.
CrossRef  |  Direct Link  |  

Dadashinasab, M., S. Sofian, M. Asgari and M. Abbasi, 2012. The effect of intellectual capital on performance: A study among Iranian automotive industry. J. Basic Appl. Sci. Res., 2: 11353-11360.
Direct Link  |  

DeZoort, F.T., D.R. Hermanson, D.S. Archambeault and S.A. Reed, 2002. Audit committee effectiveness: A synthesis of the empirical audit committee literature. J. Account. Lit., 21: 38-75.
Direct Link  |  

Dobbin, F. and J. Jung, 2012. Corporate board gender diversity and stock performance: The competence gap or institutional investor bias?. North C. Law Rev., Vol. 89,

Fooladi, M. and G.N. Chaleshtori, 2011. Corporate governance and firm performance. Proceedings of the International Conference on Economics Development and Research (IPEDR) Vol. 10, June 17-19, 2011, IACSIT Press, Singapore, pp: 1-6.

Guest, P.M., 2009. The impact of board size on firm performance: Evidence from the UK. Eur. J. Finance, 15: 385-404.
Direct Link  |  

Hayes, A.F., 2013. Introduction to Mediation, Moderation and Conditional Process Analysis: A Regression-Based Approach. 1st Edn., The Guilford Press, New York, USA., ISBN-13: 978-1609182304, Pages: 507.

Ho, C.A. and S.M. Williams, 2003. International comparative analysis of the association between board structure and the efficiency of value added by a firm from its physical capital and intellectual capital resources. Intl. J. Accounting, 38: 465-491.
Direct Link  |  

Ibrahim, N.A., D.P. Howard and J.P. Angelidis, 2003. Board members in the service industry: An empirical examination of the relationship between corporate social responsibility orientation and directorial type. J. Bus. Ethics, 47: 393-401.
Direct Link  |  

Jackling, B. and S. Johl, 2009. Board structure and firm performance: Evidence from India's top companies. Corporate Governance: Int. Rev., 17: 492-509.
CrossRef  |  

Judge, W.Q., I. Naoumova and N. Koutzevol, 2003. Corporate governance and firm performance in Russia: An empirical study. J. World Bus., 38: 385-396.
Direct Link  |  

Karamanou, I. and N. Vafeas, 2005. The association between corporate boards, audit committees and management earnings forecasts: An empirical analysis. J. Acc. Res., 43: 453-486.
Direct Link  |  

Khan, A. and S.H. Awan, 2012. Effect of board composition on firm’s performance: A case of Pakistani listed companies. Interdiscip. J. Contemp. Res. Bus., 3: 853-863.
Direct Link  |  

Khumalo, V., 2011. Effect of board size on return on equity of dual listed South African companies. Master Thesis, University of KwaZulu‐Natal, Durban, South Africa.

Kiel, G.C. and G.J. Nicholson, 2003. Board composition and corporate performance: How the Australian experience informs contrasting theories of corporate governance. Corporate Governance: Int. Rev., 11: 189-205.
CrossRef  |  Direct Link  |  

Leung, S., G. Richardson and B. Jaggi, 2014. Corporate board and board committee independence, firm performance and family ownership concentration: An analysis based on Hong Kong firms. J. Contemp. Accounting Econ., 10: 16-31.
Direct Link  |  

Li, J., M. Mangena and R. Pike, 2012. The effect of audit committee characteristics on intellectual capital disclosure. Br. Account. Rev., 44: 98-110.
CrossRef  |  Direct Link  |  

Li, J., R. Pike and R. Haniffa, 2008. Intellectual capital disclosure and corporate governance structure in UK firms. Accounting Bus. Res., 38: 137-159.
Direct Link  |  

Mahmudi, B. and E. Nurhayati, 2015. The influence of board governance characteristics on intellectual capital performance (empirical study on listed banks in BEI 2008-2012). Rev. Integr. Bus. Econ. Res., 4: 417-430.
Direct Link  |  

Makki, M.A.M. and S.A. Lodhi, 2014. Impact of corporate governance on intellectual capital efficiency and financial performance. Pak. J. Commerce Social Sci., 8: 305-330.
Direct Link  |  

Mondal, A. and S.K. Ghosh, 2012. Intellectual capital and financial performance of Indian banks. J. Intellectual Capital, 13: 515-530.
Direct Link  |  

Morariu, C.M., 2014. Intellectual capital performance in the case of Romanian public companies. J. Intellectual Capital, 15: 392-410.
Direct Link  |  

Muhammad, N.M.N. and M.K.A. Ismail, 2009. Intellectual capital efficiency and firm’s performance: Study on Malaysian financial sectors. Intl. J. Econ. Finance, 1: 206-212.
Direct Link  |  

Murale, V., R. Jayaraj and A. Ashrafali, 2010. Impact of intellectual capital on firm performance: A resource based view using VAIC approach. Intl. J. Bus. Manage. Econ. Inf. Technol., 2: 283-292.

Nimtrakoon, S., 2015. The relationship between intellectual capital, firms market value and financial performance: Empirical evidence from the ASEAN. J. Intellectual Capital, 16: 587-618.
Direct Link  |  

Orens, R., W. Aerts and N. Lybaert, 2009. Intellectual capital disclosure, cost of finance and firm value. Manage. Decis., 47: 1536-1554.
Direct Link  |  

Pathan, S., M. Skully and J. Wickramanayake, 2007. Board size, independence and performance: An analysis of Thai banks. Asia Pacific Financial Markets, 14: 211-227.
Direct Link  |  

Pulic, A., 2000. VAIC™-an accounting tool for IC management. Intl. J. Technol. Manage., 20: 702-714.
Direct Link  |  

Ramdani, D. and A.V. Witteloostuijn, 2010. The impact of board independence and CEO duality on firm performance: A quantile regression analysis for Indonesia, Malaysia, South Korea and Thailand. Br. J. Manage., 21: 607-627.
CrossRef  |  Direct Link  |  

SET., 2012. The principles of good corporate governance for listed companies 2012. Stock Exchange of Thailand, Thailand. https://www.set.or.th/sustainable_dev/en/cg/principle_p1.html

Stewart, J. and L. Munro, 2007. Auditor perceptions of the impact of audit committees and the frequency of audit committee meetings on the external audit. Intl. J. Auditing, 11: 51-69.

Tan, H.P., D. Plowman and P. Hancock, 2007. Intellectual capital and financial returns of companies. J. Intell. Capital, 8: 76-95.
CrossRef  |  Direct Link  |  

Tayles, M., R.H. Pike and S. Sofian, 2007. Intellectual capital, management accounting practices and corporate performance: Perceptions of managers. Account. Audit. Accountability J., 20: 522-548.
CrossRef  |  Direct Link  |  

Ting, I.W.K. and H.H. Lean, 2009. Intellectual Capital Performance of Financial Institutions in Malaysia. J. Intellectual Capital, 10: 588-599.
CrossRef  |  Direct Link  |  

Vafeas, N., 1999. Board meeting frequency and firm performance. J. Fin. Econ., 53: 113-142.
CrossRef  |  

Williams, S.M., 2001. Corporate Governance Diversity and its Impact on Intellectual Capital Performance in an Emerging Economy. University of Calgary, Calgary, Alberta, Pages: 60.

Yermack, D., 1996. Higher market valuation of companies with a small board of directors. J. Financial Econ., 40: 185-211.
CrossRef  |  

Zahn, J.W.M.V.D., 2006. Impact of gender and ethnic composition of South African boards of directors on intellectual capital performance. Intl. Sci. J., 2: 7-22.
CrossRef  |  Direct Link  |  

Zamani, F.G., Y.B. Nahandi, M. Lalepour and A. Re-Zagholibeyghi, 2012. The relation between corporate governance and intellectual capital stressing human capital characteristics. Intl. J. Bus. Manage. Tomorrow, 2: 1-7.

Design and power by Medwell Web Development Team. © Medwell Publishing 2024 All Rights Reserved