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The Impact of Intellectual Capital Efficiency on Corporate Sustainable Growth-Evidence from Smart Agriculture in China

Author

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  • Xin Long Xu

    () (College of Tourism, Hunan Normal University, Changsha 410006, China)

  • Hsing Hung Chen

    () (School of Business, Macau University of Science and Technology, Macau, China)

  • Rong Rong Zhang

    () (School of Business, Macau University of Science and Technology, Macau, China)

Abstract

In this paper, we expand the value-added intellectual coefficient (VAIC) model by constructing a comprehensive financial capital (FC) component. Human capital efficiency is subdivided into executive (EHCE) and nonexecutive human capital efficiency (NHCE). We have sampled listed agriculture companies (LAC) in China’s Shanghai and Shenzhen A-share markets from 2009 to 2018 and categorized them as high-tech (HTAC) and non-high-tech agriculture companies (NHTAC). We find that capital employed efficiency (CEE) and EHCE have a significant positive effect on corporate sustainable growth (CSG) of HTAC but no significant effect on CSG of NHTAC, while FC has a significant positive effect on both. These results suggest that companies, especially HTAC, should invest in human capital, and their executives and policymakers should develop effective knowledge management tools and begin accumulating the necessary intellectual capital to allow adaptation to their changing environment. In the spirit of the intellectual agriculture concept, we present some new ways to study the performance of agricultural companies using intellectual capital and offer suggestions that can help to modernize the industry.

Suggested Citation

  • Xin Long Xu & Hsing Hung Chen & Rong Rong Zhang, 2020. "The Impact of Intellectual Capital Efficiency on Corporate Sustainable Growth-Evidence from Smart Agriculture in China," Agriculture, MDPI, Open Access Journal, vol. 10(6), pages 1-15, June.
  • Handle: RePEc:gam:jagris:v:10:y:2020:i:6:p:199-:d:366408
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    References listed on IDEAS

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    Cited by:

    1. Oksana Pirogova & Olga Voronova & Tatyana Khnykina & Vladimir Plotnikov, 2020. "Intellectual Capital of a Trading Company: Comprehensive Analysis Based on Reporting," Sustainability, MDPI, Open Access Journal, vol. 12(17), pages 1-21, August.

    More about this item

    Keywords

    intellectual capital; VAIC model; smart agriculture; corporate sustainable growth;

    JEL classification:

    • Q1 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture
    • Q10 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - General
    • Q11 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Aggregate Supply and Demand Analysis; Prices
    • Q12 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Micro Analysis of Farm Firms, Farm Households, and Farm Input Markets
    • Q13 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Markets and Marketing; Cooperatives; Agribusiness
    • Q14 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Finance
    • Q15 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Land Ownership and Tenure; Land Reform; Land Use; Irrigation; Agriculture and Environment
    • Q16 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - R&D; Agricultural Technology; Biofuels; Agricultural Extension Services
    • Q17 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agriculture in International Trade
    • Q18 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Policy; Food Policy

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