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Investigating the impact of intellectual capital management on the financial performance of banks and insurances in Gilan province

Number of pages: 165 File Format: word File Code: 30478
Year: 2014 University Degree: Master's degree Category: Management
Tags/Keywords: Communication capital - Financial performance - Human capital - Intellectual capital - Structural capital
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  • Summary of Investigating the impact of intellectual capital management on the financial performance of banks and insurances in Gilan province

    Academic thesis for obtaining a master's degree in the field of business management, major: finance

    The purpose of this research is to investigate the impact of intellectual capital management on the financial performance of the supervision of banks and insurances in Gilan province. Descriptive-correlation research design and the statistical population of the research is banks and insurances in Gilan province, based on the collected statistics, there are 29 banks and 18 insurance companies (47 organizations) operating in the province, and sampling was done among all the supervisors of banks and insurances in Gilan province.  Data collection was done using the Bontis (1998) standard questionnaire and it was used in the field. To analyze the data, statistical techniques of regression with SPSS 19 software were used to test the research hypotheses.

    The examination of the research hypotheses shows that the variable of human capital has the greatest impact on the management of intellectual capital. Also, the impact of intellectual capital management and its dimensions on the financial performance of the supervision of banks and insurance companies in Gilan province is positive and significant. Different activities moderate the relationship between intellectual capital management on the financial performance of banks and insurances in Gilan province, but these hypotheses are not confirmed regarding the variable of different sizes.

    Key words: intellectual capital, human capital, structural capital, communication capital, financial performance.

    Introduction

    Today's global world relies on organizations as institutions to meet needs. Modern man is in various fields. Therefore, today human life is inseparably tied to the way organizations operate, in such a way that any society in which organizations perform their duties in a more competent way provides a better level of well-being for its people.

    One of the most important fields in the continuation of today's societies is the economic field. Economy, like other areas of modern life, depends on organizations to perform their functions, financial markets are one of the most important sectors in the modern world economy (Mazloumi et al., 2012, p. 2), and two industries, banking and insurance, are leading and important industries in financial markets, whose financial performance is the most important goal of the current research.

    The performance of an organization is the degree of success of an organization in creating value for different parts of the market. Because all the efforts of an organization in all areas should be clear in its performance and most organizations try to improve their performance by using various tools and mechanisms, for this purpose measuring the performance status is one of the important categories and attention of organizations (Lin & Kuo, 2007, P.1066). In general, organizational performance is an indicator that measures the extent to which a company achieves its goals (Wagner. et al., 2012, p. 3), so organizations need to measure their financial and non-financial performance to check their situation (Azar and Daneshwar, 2016, p. 124). Intellectual capital is a type of capital that is known as an intangible asset of an organization and is claimed to be a valuable asset in the organization (Srivihok, 2008).

    Intellectual capital consists of things such as knowledge, information, intellectual property and experience that can be used for wealth creation. Intellectual capital in a broader and acceptable view consists of three axes: human, structural and communication. Human capital can be considered to include things such as knowledge, education, skills, innovation and problem solving ability. Structural capital includes all non-human reserves of knowledge in companies. Most of the communication capital is in the knowledge hidden in marketing channels and communication with customers (Qurbani et al., 2009). In this chapter, statement of the problem, importance of research and hypotheses, theoretical framework, conceptual and operational definitions; and also the scope of the research are investigated. 1-2 Statement of the problem Today, organizations and managers have to find new ways to adapt to global changes and developments so that they can remain in the domestic and global competition scene (Faizi, 2016) and have better performance than competitors.

    1-2 Statement of the problem

    Nowadays, organizations and managers have to find new ways to adapt to global changes and developments so that they can remain in the domestic and global competition scene (Faizi, 2016) and have better performance than competitors. financial and performance-based scales have been emphasized (Rahnvard, 2017). Organizational performance is measurable results, decisions and organizational actions that indicate the degree of success in the achievements (Tangen, 2004). . By examining the performance of Iranian companies, it is possible to witness the fluctuating and controversial trend of growth and investment return rate over the past 10 years, while experts know the potential of companies in Iran's capital market in terms of better performance (Yousfi, 1389). Where is today's complex and dynamic environment is very important for organizations (Hassanzadeh and Zare, 2017, p. 9).

    Given that organizations are facing an environment that is characterized by increasing complexity, globalization, and dynamism, therefore, organizations are facing new challenges for their continuity and establishment, and overcoming these challenges requires more attention to the development and strengthening of internal skills and abilities, which is done through the foundations of organizational knowledge and intellectual capital. organizations use them to achieve better performance in the business world. Knowledge and intellectual capital have been recognized as sustainable strategies for obtaining and maintaining the competitive advantage of organizations (Pahlavanian, 2013).

    Today, intellectual capital, including knowledge, experience, personal skills, good relationships, and technological ability, is considered an important source of competitive advantage and a key factor in company profitability. Two important factors that have increased the quality of companies' performance over the past two decades are globalization and increasing technological changes. In this environment, intellectual capital and intangible assets are important success factors. In the new economic competition, knowledge-based assets provide an inherent competitive advantage (Mojtahedzadeh et al., 2019, p. 110). Today, the intangible aspect of the economy is based on intellectual capital, and its first and main ingredient is knowledge and information. In order to participate in today's markets, organizations need information and knowledge in any form and type to improve their performance (Khavandkar et al., 2017).

    Given that knowledge assets in many knowledge-based organizations are considered as primary sources of competitive advantage (Lev, 2001). The knowledge-based business environment requires an approach that new organizational intangible assets such as knowledge and competencies of human resources, innovation, relationships with It includes the customer, organizational culture, systems, organizational structure, etc. In the meantime, the theory of intellectual capital has attracted the increasing attention of academic researchers and organizational practitioners. On the other hand, in today's knowledge-based economy, intellectual capital is an important part of the value of companies. The ability to manage and control intellectual capital requires that companies be able to identify, measure and report on intellectual capital. (Meer-Kooistra et al., 2001, P.459)

    Human capital can be considered the most important assets of the organization. Therefore, it is expected that organizations that have higher intellectual and human capital will also have higher financial performance. Intellectual capital is a capital beyond physical assets and tangible assets. Today, the contribution of intellectual capital due to the production of knowledge and information and as a result the production of wealth in the knowledge-based economy can play an important role in creating added value and gross domestic product. For this reason, at the level of economic enterprises, the financial performance of organizations can be affected by intellectual assets and human capital (Roshani Asal et al., 2012, p. 2). As a service sector, the insurance industry has a compensatory and protective role in the economy of any country; So that the successful operation of this industry creates an incentive and stimulus for other industries and the development of that economy; Therefore, to achieve this in any economy, insurance companies, like any other company, must have a strong and successful performance in fulfilling their mission, goals and strategies.

  • Contents & References of Investigating the impact of intellectual capital management on the financial performance of banks and insurances in Gilan province

    List:

    Table of Contents

    Abstract. 1

    Chapter One: General research. 2

    1-1- Introduction. 3

    1-2- statement of the problem. 4

    1-3- Importance and necessity of research. 7

    1-4- research objectives. 10

    1-5- Theoretical framework. 11

    1-6- research hypotheses. 12

    1-7- Conceptual and operational definitions of research variables. 13

    1-7-1- Financial performance. 13

    1-7-2- Intellectual capital. 14

    1-7-2-1-Human capital. 15

    1-7-2- Structural capital. 15

    1-7-2-3- customer/communication capital. 16

    1-8- Research area. 16

    Chapter Two: Theoretical literature and research background. 17

    2-1- Introduction. 18

    First part: Intellectual capital. 19

    2-2- Introduction of intellectual capital. 19

    2-3- The importance and necessity of intellectual capital. 23

    2-4- Components of intellectual capital. 24

    2-5- Characteristics and strategies of intellectual capital. 29

    2-6- Introduction of different models of intellectual capital. 30

    2-7-Strengths and weaknesses and new methods for intellectual capital management. 37

    2-8- Successful management of intellectual capital. 38

    2-9- The relationship between intellectual capital and financial performance. 39

    The second part: financial performance. 40

    2-10- Explanation of the concept of performance. 40

    2-11- performance management at the organizational level. 42

    2-12- Performance measurement approaches. 43

    2-13- Objectives of performance evaluation. 46

    2-14- Performance evaluation levels. 47

    2-15- Organizational performance evaluation models. 48

    2-16-Evaluation of financial performance. 58

    2-17- Existing approaches around performance measures. 59

    2-18- Performance evaluation models. 60

    2-19- Performance measurement units. 62

    20-20- traditional and new perspectives in performance evaluation. 63

    2-21- Characteristics of efficient performance evaluation system. 65

    2-22-performance indicators. 66

    2-23- The concept of performance in the bank. 69

    2-24- The concept of performance in insurance. 73

    2-25-The functional position of the insurance industry according to global indicators. 75

    2-26- Performance evaluation models in insurance companies. 77

    The third part: Research background. 78

    2-27-Internal investigations. 78

    2-28- Foreign research. 81

    2-29- Relationships between variables and research model. 85

    Chapter 3: Research implementation method. 87

    3-1- Introduction. 88

    3-2- Research implementation method. 88

    3-3- Statistical population. 89

    3-4- Sampling method and estimation of sample volume. 89

    3-5- Information collection methods and tools. 90

    3-6- Validity and reliability of measurement tools. 91

    3-7- Statistical methods of data analysis. 93

    Chapter four: Data analysis. 94

    4-1- Introduction. 95

    4-2- Description of research variables. 95

    4-3- Klomogrov-Smirnov test. 99

    4-4- Research hypotheses. 100

    The main research hypothesis. 100

    Research sub-hypotheses. 102

    Chapter Five: Conclusion and suggestions. 107

    5-1- Introduction. 108

    5-2- Results of descriptive statistics. 108

    5-3- The final results of the hypotheses. 112

    5-4-Research proposals based on the analysis of hypothesis test results. 116

    5-5- Suggestions for future research. 118

    5-6-research limitations. 119

    Sources and sources. 120

    Persian sources. 120

    Latin sources. 126

    Appendixes. 131

    1-Questionnaire. 131

    2- List of banks and insurances. 135

    3- Cronbach's alpha coefficient. 136

    4-Research outputs. 139

    5- Samaritan case. 151

    Source:

    Sources and sources

    Persian sources

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    2- Abunouri, Ismail. Spanalo, Hadi, 1384, "Analysis of the effects of internal organizational factors on the attraction of bank deposits", Daneshwar, No. 14, pp. 1-15.

    3- Azar Adel Daneshvar Maryam, 1386, "Review of methods for evaluating the performance of insurance branches", Insurance Industry Quarterly, Year 22, Number 2, Summer, 1386, serial number 86, pp. 152-123.

    4- Azar, Adel and Motamani, Alireza, 1383, "Measurement of productivity in manufacturing companies by means of DEA model", bimonthly scientific-research journal of Shahid University, D. month, year 11,

    4-Azer, Adel and Motamani, Alireza, 2013, "Measuring Productivity in Manufacturing Companies by Model (DEA)", Shahid University Scientific-Research Bimonthly, December, 11th Year, Number 8, p. 44.

    5- Armstrong, Michael, 2015, "Key Strategic Performance Management and Practical Guide", Translation: Saeed Safari, Jihad Publications academic.

    6- Ahmadian, Majid; Ghorbani, Rahim, 2012, "Examination of the relationship between intellectual capital and organizational performance: the case study of the Ministry of Economic Affairs and Finance", Economic Journal, numbers 11 and 12, Bahman and Esfand, pp. 111-130.

    7- Asmailzadeh Moghri, Ali; Hematfar, Mahmoud; Zamaniyan, Alireza, 1389, "Investigating the relationship between intellectual capital and performance evaluation indicators of companies listed on the Tehran Stock Exchange", Journal of Management Accounting, 3rd year, 6th issue, pp. 1-12.

    8- Ashna, Mustafa; Yousefi, Hamidreza; Sadeghi, Farzaneh, 1388, "Intellectual capital, a valuable and effective capital in the country's tax affairs organization", Specialized Tax Quarterly, New Volume, Number 6, pp. 155-139.

    9- Afje Aliakbar, Qaderpurhana, 1389, "Evaluation of the impact of intellectual capital management on the organization's financial performance", Government Management Quarterly, Volume 1, Number 3, pp. 113-140.

    10- Alwani, Seyyed Mehdi, 2018, "General Management", Nei Publishing House, Tehran, p. 119.

    11- Iranzadeh Suleiman, Barghi Amir, 2018, "Evaluation of Organizational Performance with the Balanced Scorecard (BSC) Model", Industrial Management: Summer, Volume 4, Number 8, pp. 86-67.

    12- Babai Niloui, Niloufer; Rahimi, Gholamreza; Bahlouli Zeinab, Nader, 2013, "Comparative study of intellectual capital management in universities", Innovation and creativity in humanities, first year, number 3, autumn and winter, pp. 53-96.

    13-Hassanzadeh brothers, Rasul. Nejad Irani, Farhad. Lotfollahi Haghi, Mahrokh, 2018, "Comparative study of the impact of financial performance criteria on the decision-making of state and non-state bank managers (using hierarchical analysis technique)", Beyond Management, third year, number 11, pp. 185-211.

    14-Behrangi, Mohammad Reza. 2018, "Creative and innovative organization of an intellectual capital from the perspective of management on education", collection of articles of the first international conference on intellectual capital management.

    15- Bayazi Tahraband, Ali; Agili, Hassan; Moin Najafabadi, Faqiheh, 2018, "Comprehensive Model of Organizational Performance Management", Tadbir, Azar, No. 211, pp. 54-49.

    16- Parhizgar, Mohammad Mehdi; Haji Karimi, Abbas Ali, 2016, "Effective Mechanisms in Designing and Implementing New Organizational Performance Evaluation Systems in Commercial Banks of the Country (Case Study, Bank Mellat)", Volume and Number: Volume 7, Number 27, Winter, pp. 113-140.

    17- Pahlavanian, Hossein, 2016, "Intellectual Capital Hidden Assets for Superiority in Competition", Engineering Magazine Management, 5 (46), pp. 67-64.

    18- Perivian, legend; Zaranejad, Mansour; 1391, "Investigating the relationship between market structure and the performance of the insurance industry in Iran", New Insurance World No. 176, 4-17.

    19-Jaafari, Mostafa and others, 1384, "Reviewing models of intellectual capital capture of a holistic event", 4th Tehran International Conference on Management.

    20-Chopani, Haider; Zare Khalili, Mojtaba; Ghasemi, Agil; Gholamzadeh, Hojat, 2013, "Investigating the relationship between intellectual capital and organizational innovation (Case study: Development Insurance Joint Stock Company)", Innovation and Creativity in Human Sciences, Volume 2, Number 1, pp. 1-17.

    21-Haji Karimi, Abbas Ali and Bathai, Atieh. 1388, "Intellectual capital management (strategic advantage of organizational value creation) concepts and applications.", first edition, Tehran: Neshar Trading.

    22- Hajipour, Bahman; Kord, Morteza, 2013, "Effects of strategic agreements on the relationship between organizational learning, innovation and financial performance of the company", Management Studies of Improvement and Transformation, Summer and Fall - No. 62, pp. 162-143. 23- Hasanpour, Daud; Yazdani, Hamidreza, 2013, "Investigating the relationship between the added value of intellectual capital and the financial, economic and stock market performance of companies listed on the Iran Stock Exchange", Accounting and Auditing Reviews, Volume 19, Number 4, pp. 15-32.

    24-Hassanzadeh, Hamidreza; Zare, Mohammad Sadegh, 2017, "Explaining performance evaluation indicators of private insurance companies using the balanced scoring method with experts' opinions", Insurance industry quarterly, year 23, numbers 3 and 4, autumn and winter, serial number 91-92, pp. 36-7.

Investigating the impact of intellectual capital management on the financial performance of banks and insurances in Gilan province
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