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Intellectual capital and investment efficiency: The mediating role of strategic management accounting practices

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  • Trinh Hiep Thien
  • Nguyen Xuan Hung

Abstract

This study investigates the mediating effect of strategic management accounting (SMA) practices on the relationship between intellectual capital (IC) and investment efficiency (IE). Using secondary data and primary data through the questionnaire survey from 127 Vietnamese listed companies, this work applies the PLS-SEM approach to examine the mediating role of SMA practices in the relationship between IC and IE. The empirical results show a direct connection between structural capital (a measurement of IC) and IE because firms will likely use structural capital representing a well-organized structure to facilitate efficient capital allocation. Moreover, the research findings also indicate a direct correlation between IC components and SMA practices. Regarding the mediating role of SMA in the relationship between IC and IE, SMA fully or partially mediates the positive influence of IC components over the performance of IE. This research contributes to existing resources management literature on the Resources (i.e. IC) – Practices (i.e. SMA practices) – Productivity (i.e. IE) connectedness. Thereby, it provides undiscovered empirical evidence of the role of employees (human capital (HC)) and well-organized structure (structural capital (SC)) such as procedures or processes to facilitate the efficient allocation of capital.

Suggested Citation

  • Trinh Hiep Thien & Nguyen Xuan Hung, 2023. "Intellectual capital and investment efficiency: The mediating role of strategic management accounting practices," Cogent Business & Management, Taylor & Francis Journals, vol. 10(2), pages 2207879-220, December.
    • Handle: RePEc:taf:oabmxx:v:10:y:2023:i:2:p:2207879
    DOI: 10.1080/23311975.2023.2207879
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    Cited by:

    1. Derrick W. H. Fung & Charles C. Yang & Jason J. H. Yeh, 2024. "The market price to embedded value gap: an analysis of European life insurers," Review of Quantitative Finance and Accounting, Springer, vol. 62(1), pages 69-96, January.
    2. Liem Tan Vo & Nhi Van Vo & Toan Ngoc Pham & Nguyen Ngoc Hien, 2023. "The Impact of Historical Performance and Managerial Risk-taking Propensity on the Behavior of Choosing Prospector Strategy and Using Strategic Management Accounting Information in Viet Nam Manufacture," SAGE Open, , vol. 13(4), pages 21582440231, December.

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