オオタケ トシツグ   OTAKE Toshitsugu   大竹 敏次    所属   立命館アジア太平洋大学  国際経営学部    職種   教授
言語種別	英語
発行・発表の年月	2026/03
形態種別	学術論文
査読	査読あり
標題	The Impact of Intellectual Capital Efficiency on Firm Performance in the MENAT Region: Does R&D Intensity Matter?
執筆形態	共著
掲載誌名	Journal of Financial Reporting and Accounting
掲載区分	国外
出版社・発行元	Emerald Group Publishing Limited
巻・号・頁	1(1)
概要	The purpose of this study is to investigate empirical results of the moderating effect of research and development (R&D) intensity on the relationship between intellectual capital (IC) efficiency and firm performance. It also examines the direct impact of IC efficiency and its components, human capital efficiency (HCE), capital employed efficiency (CEE), and structural capital efficiency (SCE), on firm business performance. Additionally, the study explored the direct relationship between R&D intensity and firm performance using quantitative data from listed companies in the Middle East, North Africa, and Turkey (MENAT) region. The data had been accessed via the Bloomberg terminal for the period from 2015 to 2024 for 525 non-financial firms in the MENAT region. The Panel Least Squares, with fixed effects regression analysis, was utilized via EViews software to investigate the empirical results for the study variables. The results showed a positive association between Value Added Intellectual Capital (VAIC) and HCE with firm performance. However, a significant negative relationship is found between R&D intensity and firm performance. On the other hand, the study explored no moderation effect for the IC efficiency and firm performance.
DOI	10.1108/JFRA-10-2025-0863